MANILA, Philippines — Digitalization aims to breathe a new life into a government-led retirement program hampered for years by tax issues and which kicked off to a dismal start in 2016. Assisted by technology, the Bangko Sentral ng Pilipinas (BSP) targets to attract 5 million people within 5 years to invest in Personal Equity Retirement Accounts […]
Read MoreMANILA, Philippines — The Federation of Philippine Industries (FPI) is urging the government to recalibrate trade policies to help local industries and protect consumers from the entry of lower priced and substandard imports amid the COVID-19 pandemic. In a statement, FPI said now is the time to review the country’s trade policies to shield both […]
Read MoreMANILA, Philippines — Local manufacturing activity is expected to pick up in the coming months on the back of record low interest rates, as well as higher infrastructure spending, according to Rizal Commercial Banking Corp. (RCBC). Michael Ricafort, chief economist at RCBC, said the record low interest rates would support greater demand for loans and […]
Read MoreMANILA, Philippines — The economy still cannot be expected to return to its pre-crisis level by next year as prevailing weaknesses in industries, labor market, and overseas employment prospects will weigh on near-term prospects, said US-based Global Source Partners. In its recently released quarterly report, the market intelligence firm forecasts an 8.5 percent contraction for […]
Read MoreMANILA, Philippines — Philippine banks have started reducing the interest on peso and foreign currency deposit accounts as the Bangko Sentral ng Pilipinas (BSP) has slashed interest rates by 175 basis points so far this year to soften the blow of the coronavirus disease 2019 or COVID-19 pandemic. Ayala-led Bank of the Philippine Islands (BPI) […]
Read MoreDESPITE imposing one of the world’s longest and strictest lockdowns, coronavirus cases in the Philippines have now surged past 230,000, with Indonesia eclipsed as the region’s biggest outbreak. The virus resurgence is said to have been fuelled by testing gaffes and failures in quarantine protocol in the face of over 100,000 overseas Filipino workers arriving […]
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