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Philippines: FDI inflows contract in 5 months

MANILA, Philippines — The net inflow of foreign direct investments (FDIs) contracted by nearly 26 percent to $2.38 billion in the first five months from $3.19 billion in the same period last year despite the strong recovery in May, according to the Bangko Sentral ng Pilipinas. The BSP attributed the lower inflow to the grim […]

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Philippines: Term deposit yields rise across the board

MANILA, Philippines — Term deposit yields rose across the board as cash-rich banks continued to park their excess funds in the liquidity absorption facility of the Bangko Sentral ng Pilipinas (BSP). BSP Deputy Governor Francisco Dakila Jr. said tenders at yesterday’s term deposit auction facility reached P502.1 billion, higher than the increased volume offering of […]

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Philippines: Factory conditions weaken in August

MANILA, Philippines — Manufacturing conditions in the country deteriorated further in August as the reimposition of a strict two-week lockdown stalled factory operations. The headline IHS Markit Philippines Manufacturing Purchasing Managers’ Index (PMI) fell anew to 47.3 in August from 48.4 in July. This reading, however, was still above the record low PMI of  31.6 […]

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