MANILA, Philippines — The inflows of remittances and receipts from business process outsourcing (BPO) industry in the fourth quarter may help prop up the peso against the dollar, according to Finance Secretary Benjamin Diokno. During the 17th Philippine Summit hosted by The Asset, Diokno said he is banking on remittances from overseas Filipino workers (OFWs) […]
Read MoreMANILA, Philippines — Philippine manufacturers of electric vehicles want the government to slash tariffs on raw materials needed to make e-vehicles to support the industry in boosting its local production. Electric Vehicle Association of the Philippines (EVAP) president Edmund Araga yesterday asked the government to consider cutting, if not totally eliminating, the import duties imposed […]
Read MoreMANILA, Philippines — The government is keeping its growth target for next year, even as sustained increases in inflation may slow down the economy next year, the National Economic and Development Authority (NEDA) said. Socioeconomic Planning Secretary Arsenio Balisacan told reporters on the sidelines of the 48th Philippine Business Conference and Expo yesterday that the […]
Read MoreMANILA, Philippines — Filipinos planning to travel for the holiday season can expect air fares to go down next month, as airlines vow to reduce ticket prices with a lower fuel surcharge in place. Local carriers Philippine Airlines (PAL), Cebu Pacific and AirAsia Philippines yesterday said they would comply with the directive of the Civil […]
Read MoreMANILA, Philippines — The Philippines sank deeper into a dollar deficit in September as foreign currency fluctuations sent the national government’s debt payments into steep territory. What’s new The country’s balance of payments (BOP) amounted to a deficit of $2.3 billion in September, wider compared with the $412 million deficit a year ago, the Bangko […]
Read MoreMANILA, Philippines — The National Economic and Development Authority (NEDA) expects the continued uptick in inflation this year and in 2023 to cut the country’s economic growth by 0.6 percent next year. “We are particularly concerned about higher inflation. Our analysis shows that sustained increases in inflation in 2022 and 2023 will cause a slowdown […]
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