MANILA, Philippines — More foreign portfolio investments flowed into the Philippines last year, hitting the highest level in five years and reversing the net outflow in 2017 as investors welcomed the implementation of the government’s tax reform program, according to the Bangko Sentral ng Pilipinas (BSP). Net inflow of hot money or speculative funds amounted to $1.2 billion […]
Read MoreMANILA, Philippines — The government is seeking to liberalize the importation of sugar to push down the price of the commodity and improve the competitiveness of the country’s food export industry, the Department of Budget and Management (DBM) said yesterday. In his weekly press briefing, Budget Secretary Benjamin Diokno said the government wants to deregulate […]
Read MoreMANILA, Philippines — The economy likely grew by 6.5 percent in 2018, within the lower range of the government’s gross domestic product (GDP) growth target for that year, the Department of Budget and Management (DBM) said yesterday. During his weekly press briefing, Budget Secretary Benjamin Diokno said the country’s real GDP is estimated to have grown by at least […]
Read MoreMANILA, Philippines — Three international tower companies are set to ink separate agreements with the Department of Information and Communications Technology (DICT) in their quest to become common telecommunications infrastructure providers in the country. The DICT is slated to sign today memoranda of understanding (MOU) with Nigeria’s IHS Towers and Malaysia’s Edotco Towers. For tomorrow, […]
Read MoreMANILA, Philippines — Term deposit rates eased across the board yesterday as banks continued to park their excess funds in the liquidity absorption facilities of the Bangko Sentral ng Pilipinas (BSP). The yield of the seven-day term deposits shed 0.68 basis points to 5.0638 percent from 5.0706 percent last week, while the rate of the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) said yesterday the failure of Korean shipbuilder Hanjin Heavy Industries and Construction Philippines (HHIC-Phil) to settle its obligations to five of the largest banks in the Philippines worth over P21 billion would have minimal impact on the capitalization of the banking industry. In a statement released by the Investor Relations […]
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