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Philippines: BSP keeps focus on inflation target

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) reiterated it is not expected to move in synch with the tightening moves of some central banks in advanced economies. BSP Governor Nestor Espenilla Jr. said monetary authorities are focused on promoting price and financial stability conducive to a balanced and sustainable economic growth. “Our monetary […]

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Philippines: Gov’t urged to address high power rates

MANILA, Philippines — The Philippines will continue to lag behind Asian neighbors in socio-economic development unless government takes proactive reforms to address the country’s  high power cost – considered the most expensive in the world, according to Meralco PowerGen Corp. (MGen) senior vice president for commercial and planning Chrysogonus Herrera. “We are at the bottom […]

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Philippines: Not all deficits are created equal

MANILA, Philippines — A celebrated playwright and coincidentally one of the founders of London School of Economics and Political Science (LSE), George Bernard Shaw once famously quipped “If all economists were laid end to end, they would not reach a conclusion.”  Economics as a field has been characterized by a number of disagreements. One only […]

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Philippine Business Bank core profit up 51%

MANILA, Philippines — Philippine Business Bank (PBB) reported a core income of P673.7 million in the nine months to September this year, rising 50.6 percent from P447.3 million in the same period last year. In a statement, PBB said net interest income went up 19 percent to P2.2 billion in the third quarter from P1.8 […]

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Philippines: Economy likely grew faster in Q3 — Pernia

MANILA, Philippines — The economy likely grew faster in the third quarter on the back of strong exports, agricultural production and investments, the National Economic and Development Authority (NEDA) said yesterday. In an interview with reporters, Socioeconomic Planning Secretary Ernesto Pernia said the economy likely grew at a faster rate in the third quarter compared […]

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