MANILA, Philippines — The Philippines’ trade gap narrowed to a three-month low in December, after exports stayed weak while import growth slowed sharply during the month, the country’s statistics agency reported Tuesday. Trade deficit in December stood at $3.75 billion, slimmer than $3.97 billion gap posted a year ago and $3.90 billion shortfall registered in November. […]
Read MoreMANILA, Philippines — The amount of foreign direct investments (FDIs) flowing into the Philippines declined by 3.2 percent in the first 11 months of 2018 as investors remained wary of the trade war between the US and China, as well as rising inflation in the domestic front. The Bangko Sentral ng Pilipinas (BSP) reported yesterday […]
Read MoreMANILA, Philippines — Project approvals by the Board of Investments (BOI) took off at the start of the year, surging 91 percent in January from the same month a year ago. In a statement yesterday, the BOI said it approved P97.9 billion worth of projects in the first month of the year, up from P51.3 billion in […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) decided yesterday to keep interest rates unchanged to allow the economy to absorb the effects of the previous rate hikes. In a statement, BSP Governor Nestor Espenilla said the Monetary Board believes the prevailing monetary policy remains appropriate after the tightening episode that saw interest rates rise by […]
Read MoreINFLATION rose 4.4 per cent year-on-year in January, the slowest in 10 months, partly as the full impact of the second round of oil excise tax increase under the Tax Reform for Acceleration and Inclusion (Train) Act was not yet felt at the start of the year. The rate of increase in prices of basic […]
Read MoreMANILA: Philippine central bank Deputy Governor Diwa Guinigundo said a quick reversal of last year’s monetary tightening — either through a reduction in the amount of cash that banks must hold as reserves or a cut in key interest rates — would be “bad economic or monetary policy.” While inflation in the last two months […]
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