MANILA, Philippines — Higher interest rates may address the monster inflation in the country but may soon constrict Philippine companies’ capacity to expand as borrowing costs rise, according to industry players. “Companies will further be saddled by the additional burden of borrowing and overhead costs. It’s a major domino effect. Almost all segments will be […]
Read MoreMANILA, Philippines — The growth in consumer prices may have already peaked this quarter as September is seen to begin a drier period more conducive to agricultural production and rice imports are set to arrive, said First Metro Investment Corp. (FMIC) in a report. In its new Market Call report the investment banking arm of […]
Read MoreMANILA, Philippines — As part of its transition from a ride-hailing service to an “everyday” application, Grab Philippines said yesterday it is planning to expand digital payment services through GrabPay mobile wallet feature. Ooi Huey Tyng, managing director of Grabpay Malaysia, Singapore and the Philippines, made the announcement after Grab Philippines acquired its e-money license from the Bangko […]
Read MoreMANILA, Philippines (Update 2, 6:32 p.m.) — As widely expected, the Bangko Sentral ng Pilipinas on Thursday raised anew its benchmark rates by another 50 basis points to tame inflation, which monetary authorities expect to soar above official target for two straight years. The latest round of monetary policy tightening brings the central bank’s policy rate to 4.5 […]
Read MoreMANILA, Philippines — The group representing the country’s biggest miners warned lawmakers yesterday that the planned imposition of higher taxes would kill the mining industry. “At present, we are paying a four percent excise tax. If you impose an additional five-percent royalty, plus local taxes, the total would be close to 12 percent. That will […]
Read MoreMANILA, Philippines — The series of rate hikes by the Bangko Sentral ng Pilipinas may temper loan growth as higher inflation is expected to crimp consumer demand, according to global rating agency Fitch Ratings. In a report, the debt watcher said the country’s credit growth would likely settle in the mid-teens this year from 19 percent last year. Latest data […]
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