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Philippines attracts more speculative funds ‘

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 […]

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Philippines’ RCEP entry to boost trade ties with China

MANILA: 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. […]

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Philippines: Higher credit card rates take effect

MANILA, 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 […]

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Philippines: Tight fiscal space to deter GDP growth as rate hikes bite — Oxford Economics

MANILA, 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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