MANILA, Philippines – The country’s foreign obligations decreased 4.9 percent in the first quarter as key external debt indicators remained at comfortable levels, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend. BSP Governor Amando Tetangco Jr. said the outstanding Philippine external debt stood at $73.8 billion in the first quarter, lower by $3.8 […]
Read MoreLowest in 15 months as Saudi workers repatriated MANILA, Philippines – After hitting record monthly levels in March, cash and personal remittances from overseas Filipino workers slipped in April, hitting their lowest levels in 15 months primarily due to the repatriation of workers from Saudi Arabia, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. BSP […]
Read MoreMANILA: Powered by China’s infrastructure push, Chinese construction steel producers are seeing their best profits in years, lording it over their high-value counterparts in a setback for Beijing’s years-long drive urging steelmakers to move up the value chain. As its manufacturing engine sputters, the world’s second largest economy is increasingly relying on infrastructure spending to […]
Read MoreMANILA, Philippines – Total foreign investments approved by the country’s seven investment promotion agencies (IPAs) fell 12.8 percent in the first quarter of the year, the Philippine Statistics Authority (PSA) reported yesterday. Investment pledges cleared in the first three months of the year fell to P22.9 billion from P26.2 billion in the same period last […]
Read MoreMANILA, Philippines – Prospects for the Philippines continue to remain bright given its sound economic fundamentals, but further improvement on its domestic policies would be critical to take its economy a notch higher, global research and consultancy firm Oxford Business Group (OBG) said. OBG launched yesterday its latest publication entitled “The Report: The Philippines 2017” […]
Read MoreMANILA, Philippines – The net inflow of foreign direct investments (FDI) into the Philippines rose 17 percent to $1.56 billion in the first quarter from $1.34 billion in the same period last year as the country continues to enjoy strong macroeconomic fundamentals, according to the Bangko Sentral ng Pilipinas (BSP). “The sustained FDI inflows reflect […]
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