MANILA, Philippines — The net inflow of foreign direct investments (FDIs) declined for the fourth straight month, tumbling by 7.9 percent to a two-month low of $626 million in September from $680 million a year ago amid external headwinds arising from tighter global financial conditions to fight soaring inflation. Michael Ricafort, chief economist at Rizal […]
Read MoreMANILA, Philippines — The Philippines’ trade gap narrowed in October after a surprise exports growth tempered surging imports. Trade deficit, which occurs when the country’s imports bill outgrows export sales, expanded 13.5% year-on-year to $3.31 billion in October. This, however, was smaller by 31.73% compared to the previous month’s gap, data released by the Philippine […]
Read MoreMANILA, Philippines — The peso is likely to face less choppy waters in 2023 after emerging as one of the worst performing currencies in Asia this year when the external position of the Philippines deteriorated significantly, according to ANZ Research. In its Asia FX Outlook 2023, “Ready to Rebound Even if Growth Slows,” ANZ Research […]
Read MoreMANILA, Philippines — Households and businesses in areas served by Manila Electric Co. (Meralco) can expect higher electricity bills in December after the power distributor completed one of its mandated refunds to customers, which tempered benefits from lower generation charges. In a statement on Friday, the largest power distributor in the country said the overall […]
Read MoreMANILA, Philippines — The Philippines was among the countries in Southeast Asia that saw the highest growth in greenfield investments in the first three quarters of the year, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said. In its Foreign Direct Investment Trends and Outlook in Asia and the Pacific 2022/2023 […]
Read MoreMANILA, Philippines — The national government’s debt stock increased in October and has already exceeded the expected pile by the end of the year, as the Marcos Jr. administration took on new debts to finance its programs. The Bureau of the Treasury revealed Wednesday that government liabilities hit P13.64 trillion in October, inching up 0.92% month-on-month. […]
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