MANILA, Philippines — Credit ratings of five Philippine banks are in danger after they were exposed to what could be the biggest corporate default in Philippine history, as this could mean higher credit costs and reduction in profit, Moody’s Investors Service said. The Philippine unit of South Korean shipbuilder Hanjin last week filed for court […]
Read MoreBy Melissa Luz T. Lopez Senior Reporter THERE IS LESS PRESSURE for the Bangko Sentral ng Pilipinas (BSP) to raise rates further this year as inflation has somewhat eased and the trade gap can be expected to narrow, two global banks said. Deutsche Bank has scaled down its rate hike forecast to two from three […]
Read MoreCHINA has overtaken the United States in terms of the volume of net equity capital investments to the Philippines in the January-to-October period last year, according to data from the Bangko Sentral ng Pilipinas (BSP). However, a closer neighbor’s volume of long-term investments to the Philippines is almost triple that of the combined capital placements […]
Read MoreMANILA, Philippines — Liquidity in the financial system may post a double-digit growth this year after the tightening cycle by the Bangko Sentral ng Pilipinas (BSP) last year to prevent inflation from spiraling out of control. BSP officer-in-charge Diwa Guinigundo said domestic liquidity or M3 may grow between 10 and 11 percent this year with […]
Read MoreMANILA, Philippines — Investment pledges with the Philippine Economic Zone Authority (PEZA) fell 41 percent last year from 2017 amid investor concerns on government’s plan to change the incentives regime under its tax reform program. Data from the PEZA showed investments approved by the agency reached P140.24 billion last year, lower than the P237.57 billion […]
Read MoreMANILA, Philippines — An unexpected contraction in exports and the continued growth in imports widened the country’s trade deficit to $3.9 billion in November from the $3.28 billion gap a year earlier, the Philippine Statistics Authority (PSA) reported yesterday. The November trade deficit, however, eased from the record high $4.21 billion gap logged in October. PSA said exports fell 0.3 […]
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