MANILA, Philippines – The peso continued yesterday to lose more ground against the dollar, shedding 26 centavos to close at its weakest level in almost 11 years. The local currency closed at 51.34 from Monday’s 51.08 to $1. This was the weakest level for the peso since closing at 51.38 to $1 on Aug. 25, […]
Read MoreMANILA: The Philippine government, seeking to reduce concerns about a sliding peso, said the country’s strong economy and attractiveness for investors will bolster the currency. Economists say global political uncertainties and import-driven demand for dollars have caused the peso’s recent fall. The peso, Asia’s worst performing currency this year, hovered slightly above Friday’s 11-year low […]
Read MoreMANILA, Philippines – Foreign direct investment (FDI) inflows into the Philippines jumped 57 percent to $572 million in May from $364 milion a year ago as the country’s strong macroeconomic fundamentals continued to buoy investor confidence, according to the Bangko Sentral ng Pilipinas (BSP). “This was driven by the continued positive outlook on the Philippine […]
Read MoreMANILA, Philippines – The country’s gross domestic product (GDP) growth likely slowed to below six percent in the second quarter, according to Credit Suisse. In a research note titled “Philippines macro wrap: 2Q GDP likely to disappoint,” Credit Suisse economist Michael Wan said the Philippine economy likely grew 5.8 percent in the second quarter from 6.4 percent in […]
Read MoreSINGAPORE retail sales rose 1.9 per cent in June, compared to a year ago, the Department of Statistics said on Friday. Excluding motor vehicles, retail sales increased 4 per cent. The total retail sales value in June 2017 was estimated at S$3.7 billion, higher than the S$3.6 billion generated in June 2016. Retail sales of […]
Read MoreMANILA, Philippines – The country’s trade deficit narrowed 9.3 percent in June as import growth slowed while exports accelerated modestly, the National Economic and Development Authority (NEDA) said yesterday. Total external trade in goods fell 1.2 percent to $11.97 billion in June from $12.12 billion registered in the same period last year after posting 10 […]
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