Amid COVID-19 outbreak MANILA, Philippines — The country is planning to borrow more from domestic and foreign debt markets to plug the wider budget deficit this year arising from lower revenue collections amid the spread of the coronavirus disease 2019 or COVID-19, according to the Department of Finance. DOF Secretary Carlos Dominguez said the government […]
Read MoreMANILA, Philippines — The country’s rice inventory maintained its upward momentum in February, given a continued open market regime. Latest data from the Philippine Statistics Authority (PSA) showed that total rice inventory stood at 2.37 million metric tons (MT) in February, up 11 percent from the previous year. However, the current inventory is 11.2 percent […]
Read MoreMANILA, Philippines — The country’s banking industry is adequately capitalized to survive potentially crippling impact of certain events such as the rapid spread of the novel coronavirus disease 2019 or COVID-19, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the capital adequacy ratio (CAR) of local banks are much higher than […]
Read MoreMANILA, Philippines — The Pharmaceutical and Healthcare Association of the Philippines (PHAP) has reiterated its commitment to ensure stable supply and prices of medicines and vaccines following the declaration of a state of public health emergency throughout the country amid increasing cases of coronavirus disease 2019 (COVID-19). “Our members commit to exert all efforts to […]
Read MoreMANILA, Philippines — With more overseas Filipinos still wanting to extend their helping hand to their kababayans adversely affected by the Taal Volcano eruption, BDO Remit has extended its free remittance campaign on cash donations sent until end-June this year. As of end-January, BDO Remit has collected more than P600,000 in cash donations from overseas […]
Read MoreMANILA, Philippines — S&P Global Ratings slashed this year’s economic growth forecast anew for the Philippines to below six percent amid the coronavirus disease 2019 (COVID-19) outbreak. In its latest report titled “COVID-19 now threatens more damage to Asia Pacific,” the debt watcher said the GDP growth of the Philippines would soften further to 5.8 […]
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