Grab Philippines may again seek the government’s permission to participate in the latter’s extended motorcycle taxi pilot run, an official said on Wednesday. During a virtual briefing, Ronald Roda, Grab Philippines head of transport and shared services, said his company might approach the Department of Transportation on reintroducing its GrabBike ride-hailing service after Malacañang decided […]
Read MoreMANILA, Philippines — The country’s overall balance of payments (BOP) position posted a surplus of $2.1 billion in September, bringing the year-to-date surplus position to $6.88 billion, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. The latest figure reflected mainly the inflows from the BSP’s foreign exchange operations and income from its investments abroad, and […]
Read MoreMANILA, Philippines — Governments and corporates accumulating large debts this year for pandemic programs are bound to suffer the negative consequence of expensive payments starting next year, Moody’s Investors Service said on Monday. The scenario, in turn, threatens to further deteriorate the fiscal house of Asian economies, but most especially Indonesia, Sri Lanka and the […]
Read MoreMANILA, Philippines — The projected two percent decline in remittances from overseas Filipino workers (OFWs) due to the COVID-19 pandemic may have minimal impact on the economy, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diok-no said risks to OFW remittances remain on the downside due mainly to the continued large repatriation of […]
Read MoreMANILA, Philippines — Borrowings secured by the national government ballooned to P2.56 trillion from January to September as it ramped up its debt issuances and loan availments to fund coronavirus response measures, according to the Bureau of the Treasury (BTr). Based on BTr data, the national government’s gross borrowings from January to September surged by […]
Read MoreMANILA, Philippines — The country’s group of manufacturers is proposing stricter rules on product standards to protect consumers from substandard goods. Federation of Philippine Industries (FPI) chairman Jesus Arranza said there is a need for the Department of Trade and Industry (DTI) to have clearer and stricter provisions on products classified under mandatory and voluntary […]
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