MANILA, Philippines — The peso retreated yesterday, closing to its lowest in almost 12 years at 52.95 to $1 due to uncertainties caused by the recent developments in the G7 meeting, analysts said. The local currency weakened by 25 centavos from last Friday’s close of 52.70 to $1. This was the lowest since the peso […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) has a $7.915 -billion lending pipeline for infrastructure and other long-term investments in the country from 2018 to 2021, the National Economic and Development Authority (NEDA) said yesterday. The government concluded late last month the wrap up meeting of the Country Programming mission on ADB loans and […]
Read MoreMANILA, Philippines — Inflation may peak earlier-than-expected this year due to the lower-than-expected turnout for the month of May, according to the Bangko Sentral ng Pilipinas (BSP). BSP Deputy Governor Diwa Guinigundo said inflation may peak sooner than the fourth quarter forecast as inflation accelerated to just 4.6 percent in May from 4.5 percent in […]
Read MoreMANILA, Philippines — The Foundation for Economic Freedom (FEF) is urging Congress to immediately pass the Rice Tariffication Act to avoid prospects of runaway inflation. In a statement issued Wednesday, the policy advocacy group said the liberalization of rice trade in the country would bring down inflation by 0.4 percentage point as rice prices fall […]
Read MoreMANILA, Philippines — Foreign investment pledges approved by the country’s investment promotion agencies fell 37.9 percent in the first quarter of the year, the Philippine Statistics Authority (PSA) reported yesterday. The PSA said investment commitments in the first quarter dropped to P14.2 billion from P22.9 billion in the same period last year. These cover investment […]
Read MoreMANILA, Philippines — The Philippines’ trade deficit continued to swell in April on the back of weaker exports and double digit growth in imports, the government’s statistics agency reported Friday. The country’s trade gap sharply widened to $3.62 billion in April, higher than the $1.55 billion deficit in the same month last year. Total external […]
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