CHINA’S One Belt, One Road (OBOR) Initiative will help the Philippines to be more competitive in global trade, the Department of Finance (DoF) said. With airports and seaports as part of the Duterte presidency’s envisioned “Golden Age of Infrastructure,” the maritime Silk Road component of OBOR will open new markets for Philippine products in Beijing’s […]
Read MoreING Bank on Tuesday said the business process outsourcing (BPO) industry will hit revenue of $26 billion this year. “The BPO industry this year may hit $26 billion, the 2017 target is part of the whole BPO industry projection for 2020 of about $40 billion and to generate two million jobs,” Consuelo Garcia, managing director […]
Read MoreMANILA, Philippines – The government is set to borrow P889.7 billion from local and foreign lenders in 2018 to plug the budget shortfall, the Bureau of the Treasury (BTr) said yesterday. In an interview, National Treasurer Rosalia de Leon said the amount is 22.27 percent higher than the P727 billion revised debt ceiling for 2017. […]
Read MoreMANILA, Philippines – The country’s balance of payments (BOP) position reverted back to a deficit in May amid the continued outflow of funds and strong imports, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. BSP Deputy Governor Diwa Guinigundo said the Philippines booked a BOP deficit of $59 million in May, reversing the $241 million […]
Read MoreMANILA, 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 […]
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