Hot money’ net inflow hits $292 million in January MANILA, Philippines — The net inflow of foreign portfolio investments or speculative funds hit a two-month high of $292.12 million in January, 20 times the $14.6 million inflow recorded in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP). Michael Ricafort, chief […]
Read MoreMANILA: The Philippines joining the Regional Comprehensive Economic Partnership (RCEP), the world’s largest free trade agreement, will boost the South-East Asian country’s economy and inject fresh energy into regional economic integration, experts and business executives say. The economic and trade cooperation between China and the Philippines is also expected to reach new heights, they said. […]
Read MoreMANILA, Philippines — The Philippines, along with Thailand and Vietnam, has the most to gain if travel from China rebounds to levels prior to the COVID-19 pandemic, according to Moody’s Analytics. In a report, the research arm of the Moody’s Group said the tourism industries in the Philippines and the two other countries depend the […]
Read MoreMANILA, Philippines — Retail and wholesale prices of building materials in Metro Manila grew at a slower pace in January from the previous month, according to the Philippine Statistics Authority (PSA). Data from the PSA showed the year-on-year growth of the Construction Materials Retail Price Index (CMRPI) in the National Capital Region (NCR) eased to […]
Read MoreMANILA, Philippines — Banks have started imposing higher interest rates on credit card transactions after the Bangko Sentral ng Pilipinas (BSP) increased the ceiling amid a series of aggressive rate hikes to tame inflation and stabilize the peso. However, BDO Unibank Inc. has decided to move the effectivity of the higher three percent monthly interest […]
Read MoreMANILA, Philippines — A think tank argued that the 2023 budget will hamper the domestic economy’s chances of straddling global recession hurdles, especially since higher borrowing costs could stifle consumption around the country. UK-based Oxford Economics made the case in a commentary on Wednesday. “Lack of policy support is a key reason for our below-consensus […]
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