MANILA, Philippines — The Philippines has successfully purchased a parametric insurance policy from the international reinsurance market which will provide a maximum coverage of P20.49 billion to protect the government’s assets against the impact of natural disasters, according to the Department of Finance (DOF). In a report to Finance Secretary Carlos Dominguez, National Treasurer Rosalia […]
Read MoreMANILA, Philippines — Strong inflows boosted the country’s external payments position with the balance of payments (BOP) swinging back to a surplus in November, ending two straight months of deficits, according to the Bangko Sentral ng Pilipinas (BSP). Based on BSP data, the country posted a BOP suplus of $847 million in November, a complete […]
Read MoreMANILA, Philippines — The Philippines is asking Indonesia to relax its protocol in a bid to correct the trade imbalance which is in favor of the ASEAN neighboring country. Agriculture Secretary Emmanuel Piñol said trade negotiators between the two countries are meeting in Jakarta for a two-day meeting with the aim of settling the restrictions […]
Read MoreMANILA, Philippines — Inflation may fall below six percent for the first time in four months at 5.7 percent in December due to lower oil and food prices, according to British banking giant HSBC. “We expect inflation to have peaked at 6.7 percent year-on-year and to continue its gradual decline in December to 5.7 percent. The deceleration has largely been […]
Read MoreMANILA, Philippines — The inter-agency Mining Industry Coordinating Council (MICC) has decided to defer its recommendation involving a moratorium imposed on new mineral agreements pending the passage of a bill which seeks to overhaul the mining industry’s fiscal regime, according to the Department of Finance (DOF). During a meeting last week, Finance Secretary Carlos Dominguez and Environment Secretary Roy Cimatu, co-chairpersons […]
Read MoreMANILA, Philippines — Personal and cash remittances booked their fastest growth in six months, rising by at least eight percent in October as overseas Filipinos continued to send more money to their loved ones in the Philippines ahead of the Christmas holidays, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. BSP Governor Nestor Espenilla Jr. said personal […]
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