MANILA: Philippine inflation accelerated for the ninth straight month in September, the statistics agency said on Friday, hitting the highest in nearly a decade, although coming in slightly lower than market estimates. The consumer price index rose 6.7 percent last month from a year earlier, the fastest since February 2009, and but slower than the 6.8 percent […]
Read MoreMANILA, Philippines — The government should focus in making power rates in the country competitive and address inefficient transport and telco services to attract more foreign direct investments (FDI) and achieve inclusive economic growth, the Philippine Chamber of Commerce and Industry (PCCI) said. In a press conference yesterday, PCCI president Alegria Sibal-Limjoco said the country has […]
Read MoreMANILA, Philippines — After plunging deeper into bear market territory on Tuesday, the stock market recovered yesterday, indicating that investors are again on a fighting stance and ready for some bargains. The benchmark Philippine Stock Exchange index (PSEi), the stock market gauge, gained 78.51 points or 1.10 percent to finish at 7,210.87 while the broader […]
Read MoreMANILA, Philippines — The government is losing about P43 billion in revenue each year due to companies that abuse transfer pricing schemes, according to the Department of Finance (DOF). In a report to Finance Secretary Carlos Dominguez, Finance Undersecretary Karl Kendrick Chua said some companies avoid paying the correct amount of taxes to the government […]
Read MoreMANILA, Philippines — ANZ Research expects inflation to hit seven percent this quarter as the Bangko Sentral ng Pilipinas (BSP) believes the supply shocks from Typhoon Ompong are likely to persist over the next few months. “We expect headline inflation to cross seven percent this fourth quarter,” ANZ Research economist for ASEAN and India Shashank Mendirata said. Mendirata said price pressures […]
Read MoreMANILA, Philippines — The Philippine stock market was a world in turmoil yesterday, with the index slipping way below bear territory as most investors are now getting increasingly impatient over the still unabated monster inflation in the country. The benchmark Philippine Stock Exchange index (PSEi) went on a tailspin to close at 7,132.36, down 89.72 […]
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