MANILA, Philippines — The Philippines is hopeful it can meet with the US to discuss the possibility of a free trade agreement (FTA) during the upcoming Asia Pacific Economic Cooperation (APEC) meetings in Papua New Guinea in November. “What we are waiting for is the opportunity for (Trade) Secretary (Ramon) Lopez and the USTR (Office of the US Trade […]
Read MoreMANILA, Philippines — Inflation likely eased in October due to lower prices of food items and power rates, the Bangko Sentral ng Pilipinas (BSP) said yesterday. According to the BSP’s Department of Economic Research (DER), inflation may settle within the 6.2 to seven percent range in October. “This corresponds to a month-on-month inflation forecast range of -0.2 to 0.6 percent, which is in […]
Read MoreMANILA, Philippines — Excise tax collections from alcohol and tobacco products of the Bureau of Internal Revenue (BIR) both exceeded their respective targets in the first nine months, according to the Department of Finance (DOF). In an interview, Finance Undersecretary Antonette Tionko said the government’s alcohol excise tax collection from January to September amounted to […]
Read MoreMANILA, Philippines — Vehicle makers and assemblers are expecting a sales recovery in the market next year as consumers would have adjusted to price changes caused by the new excise taxes. In an interview, Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) president Rommel Gutierrez told reporters that they are projecting a conservative 10 […]
Read MoreMANILA, Philippines — The Philippines is expected to win a larger share of China’s overseas investments, reaching an estimated $120 billion with the signing of an agreement that would pave the way for the direct conversion of the respective currencies of the two countries under a so-called Philippine Renminbi Trading Community (PRTC) and peso-renminbi spot market, according […]
Read MoreMANILA, Philippines — Fare hikes for buses and jeepneys that will take effect in November may compel the Bangko Sentral ng Pilipinas (BSP) to raise policy rates by a maximum of 25 basis points (bps) before the end of the year to stave off inflationary pressures, according to First Metro Investment Corp. (FMIC). In the […]
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