MANILA, Philippines — The peso is strong, but it’s not for a good reason. The peso soared to its strongest level against the US dollar in nearly four years on Tuesday, a development not entirely good news as it signals demand for the greenback remain subdued in absence of a convincing economic revival. The local […]
Read MoreMANILA, Philippines — The Philippines is seen booking the highest unemployment rate in Southeast Asia, with about eight million Filipinos expected to lose their jobs as the coronavirus disease 2019 or COVID-19 pandemic continues to overwhelm the economy, according to Maybank ATR Kim Eng. In its ASEAN economics report titled “Labour market: Retrenchments and Recovery,” […]
Read MoreMANILA, Philippines — Some industries have experienced a pickup in business activities following the slight easing of movement restrictions in Metro Manila and other urban centers in June, according to the Department of Finance (DOF). In a series of meetings with the private sector in the third week of July, Finance Secretary Carlos Dominguez and […]
Read MoreMANILA, Philippines — Domestic debt rose to P5.96 trillion as of end-July as the government continued to issue more securities amid strong demand from investors, according to the Bureau of the Treasury (BTr). The outstanding government securities issued by the government swelled by 1.12 percent to P5.96 trillion as of end-July from P5.89 trillion a […]
Read MoreMANILA, Philippines — British banking giant HSBC expects the Philippine economy to contract deeper by 9.6 percent this year due to the rising number of COVID-19 cases in the country. According to HSBC economist Noelan Arbis, the company has revised its economic projections for the Philippines to a contraction of 9.6 percent for this year […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) sees no immediate need to further cut interest rates, reiterating that the economic fallout from the coronavirus pandemic is temporary. In a television interview, BSP Governor Benjamin Diokno said the country’s current monetary policy stance would hold for the next few quarters as it works with […]
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