MANILA, Philippines — Consumer price growth quickened in January on the back of higher food prices during the month, the Philippine Statistics Authority reported Wednesday. Inflation last month stood at 2.9%, faster than December’s 2.5% but softer than 4.4% recorded in January 2019. “The heavily-weighted food and non-alcoholic beverages index, which registered an annual increment […]
Read MoreMANILA, Philippines — Juul Labs Philippines has sought the assistance of the Department of Finance (DOF) in clarifying President Duterte’s ban on the importation of electronic cigarettes, noting that the passage of new sin tax laws should have legitimized these products in the country. Quoting a letter sent to Finance Secretary Carlos Dominguez, the DOF […]
Read MoreMANILA, Philippines — Manufacturing conditions strengthened for the second consecutive month in January as firms received more new orders and ramped up production to cope with demand, according to the latest IHS Markit Philippines Manufacturing Purchasing Managers’ Index (PMI). The headline PMI rose to 52.1 in January from 51.7 in December, signalling a moderate improvement […]
Read MoreMANILA, Philippines — The country’s hotel market is pushing for more domestic-centered marketing initiatives amid the temporary China travel ban, an industry group said. Hotel and Sales Marketing Association (HSMA) president Christine Ibarreta said hotels are currently experiencing a 20 percent to 40 percent booking cancellation rate. “But we do have to accept this fact…,” […]
Read MoreMANILA, Philippines — The stock market may sustain its downward trend this week as fears of the novel coronavirus continue to sent jitters across the globe. BDO Research said risk aversion is contagious and coronavirus has infected investor confidence. Japhet Louise Tantiangco, senior research analyst at Philstocks Financials, also said that downside risks remain. “Risks remain tilted […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has downplayed the risks posed by the offshore gaming industry to the real estate and banking sectors, saying measures are in place to manage the exposure of banks. In a press briefing, BSP Governor Benjamin Diokno said the reliance of the real estate sector to Philippine […]
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