MANILA, Philippines — US President Donald Trump has accepted a proposal from the Philippines to explore a bilateral free trade agreement (FTA) with the world’s largest economy. “During a bilateral meeting between the Philippines and US, we were able to raise to President Trump and US delegation the growing trade between the two countries. We […]
Read MoreMANILA (Reuters) – The outsourcing industry in the Philippines, which has dethroned India as the country with the most call centres in the world, is worried that the rise of artificial intelligence (AI) will eat into the $23 billion sector. AI-powered translators could dilute the biggest advantage the Philippines has, the wide use of English, […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) kept interest rates unchanged yesterday, but raised the inflation forecast for 2018 amid rising oil prices, higher liquidity in the financial system and the weak peso. BSP Governor Nestor Espenilla Jr. said the Monetary Board retained the interest rate on the overnight reverse repurchase facility at […]
Read MoreMANILA, Philippines — The government may implement next year a tax amnesty program aimed at improving taxpayer compliance and boosting government revenue, the Department of Budget and Management (DBM) said yesterday. During the Philippine Economic Society’s annual meeting yesterday, Budget Secretary Benjamin Diokno said the government is serious in its crackdown against tax evaders to […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) said monetary and fiscal authorities should act swiftly to prevent the Philippine economy from overheating amid rapid growth and low inflation. “The combination of high credit growth, buoyant private investment, and fiscal expansion without tax reform could lead to overheating of the economy,” it said. Overheating occurs […]
Read MoreMANILA, Philippines — Share prices ended flat yesterday as investors decided to stay on the sidelines following reports that headline inflation accelerated to a three-year high of 3.5 percent in October. The benchmark Philippine Stock Exchange Index (PSEi) closed 0.01 percent, or 1.26 points, lower at 8,521.81, while the wider All Shares index fell 0.04 […]
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