MANILA, Philippines — Inflation likely spiked to between 4.9 percent and five percent this month, reflecting the continuing market adjustment to the first package of the tax reform program and a confluence of other factors such as power rate hikes and fluctuating oil pump prices, an economist said yesterday. Ateneo de Manila professor Alvin Ang […]
Read MoreMANILA, Philippines — Consumer confidence in the first quarter of the year slumped mainly due to expectations of increased prices of goods, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. Rosabel Guerrero, senior director of the BSP Department of Economic Statistics, said Filipino consumers turned less optimistic in Q1 2018, as reflected by the confidence […]
Read MoreMANILA, Philippines — The country’s net oil import rose by nearly a third in 2017 due to higher volume and import cost, Department of Energy (DOE) data showed. The net import bill, or the difference between oil imports and exports, amounted to $8.92 billion last year, up 29.5 percent from $6.89 billion in 2016, the […]
Read MoreMANILA, Philippines — The Philippine Competition Commission on Monday reminded Grab Philippines that the country’s antitrust body must be notified should the ride-hailing firm’s recent acquisition of Uber Technologies Inc.’s Southeast Asian operations meet the mergers and acquisitions review trigger. “No notification has been filed at the PCC by Grab or Uber to date,” PCC […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has given assurance that the country’s economic growth remains solid enough to absorb higher interest rates, if warranted, as inflation is seen peaking in the third quarter due to transitory effects of the tax reform law. BSP Governor Nestor Espenilla Jr. told members of the Money […]
Read MoreStock market movements could be muted during a shortened trading week with the central bank’s decision not to cut rates also expected to mitigate volatility. “I think we will see the market trade within a tight range … after the Bangko Sentral ng Pilipinas (BSP) maintained interest rates which came as a surprise to investors,” […]
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