MANILA, Philippines — Vehicle manufacturers have cut production by over a third as the Philippines slid to being the second worst performer in Southeast Asia in the first four months of the year. Latest data from the ASEAN Automotive Federation showed the country posted the second largest drop in vehicle sales among eight economies in […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) yesterday delivered back-to-back rate hikes as inflation expectations remain elevated for this year as well as the risk of possible second-round effects from ongoing price pressures. BSP Governor Nestor Espenilla Jr. said in a press conference the Monetary Board decided to raise the interest rate on […]
Read MorePHILIPPINE and Cambodian officials have taken the first step to strengthen each other’s farming sector that is expected to lead to an agreement formalizing a collaboration, the Department of Agriculture (DA) said on Monday. In a release, DA said the department, led by Agriculture Undersecretary for Operations and Agri-fishery Mechanization Ariel T. Cayanan, and its […]
Read MoreMANILA, Philippines — Raising wages further would lead to job losses, while suspending the Tax Reform for Acceleration and Inclusion (TRAIN) Law would not address inflation, said foreign business leaders. “While wages, in conjunction with inflation and soaring commodity prices, have always been concerns that need to be addressed, but also here, a balance must […]
Read MoreMANILA, Philippines — Inflation may have already peaked at 4.6 percent in May and may slowly taper in the coming months, according to the National Economic and Development Authority (NEDA). In an interview, Socioeconomic Planning Secretary Ernesto Pernia said the rate of increase in inflation has already decelerated, and that inflation is expected to slowly […]
Read MoreMANILA, Philippines — The peso pierced the 53 to $1 resistance level yesterday, closing at a new 12-year low as traders braced for widely expected policy rate increase of the US Federal Reserve. The local currency closed 28 centavos lower at 53.23 from Monday’s close of 52.95. This was the weakest level for the peso […]
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