MANILA, Philippines — The Philippines on Thursday secured its first ever “A” credit rating from Japan Credit Rating Agency Ltd. (JCR), which validated the strength of the economy to withstand the coronavirus disease-2019 (COVID-19) pandemic. The Japan-based debt watcher, whose ratings matter to Japanese companies, the country’s top investors, upgraded the Philippines to “A-” and assigned a “stable” outlook on […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) expects a five percent drop in remittances from overseas Filipino workers (OFWs) due to the economic fallout from the coronavirus disease 2019 or COVID-19 pandemic. BSP Governor Benjamin Diokno said cash remittances coursed through banks may contract to $28.6 billion this year from a record high […]
Read MoreMANILA, Philippines — When most establishments were shuttered during the quarantine, Mhonick Dizon’s business was booming. Her online grocery store selling toiletries and canned goods expanded to offer fresh fruits and vegetables to loyal customers when Metro Manila was put on lockdown and everyone was encouraged to stay home. The result was additional income for her […]
Read MoreMANILA, Philippines — The aviation industry’s recovery will be long and challenging as airlines will remain financially fragile until next year, according to the International Air Transport Association. IATA said airlines globally are expected to lose $84.3 billion this year, with revenues to be slashed by half to $419 billion from $838 billion in 2019. […]
Read MoreMANILA, Philippines — Local farmers are claiming an undervaluation in rice imports by nearly P1 billion for the first four months of the year. The Federation of Free Farmers (FFF) is calling anew on the government to immediately investigate the alleged undervaluation and the wrong application of tariff rates on rice imports, which have reportedly […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) has approved a $500 million loan to expand its support for the Philippine government’s conditional cash transfer program. The Manila-based multilateral bank said the Expanded Social Assistance Project would help families sustain health and educational gains for their children achieved under the country’s Pantawid Pamilyang Pilipino Program […]
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