MANILA, Philippines — The country’s manufacturing activity continued to grow in September, rising to a three-month peak, due to stronger demand. S&P Global Market Intelligence said in a report released yesterday that the Philippines’ manufacturing purchasing managers’ index (PMI) was at 52.9 in September, up from the 51.2 in August. The latest reading is the […]
Read MoreTHE country should concentrate on improving the digital payment platforms InstaPay and PESONet before establishing a central bank digital currency (CBDC), a government official said on Monday. During a Senate budget hearing on Monday, Finance Secretary Benjamin Diokno, a former central bank governor, underscored that establishing a CBDC is not yet the right time. “Iyon […]
Read MoreTHE Philippine peso closed at P59 to a United States dollar on Monday for another record low despite increasing by small increments against greenback in the past three trading days. Data from the Bankers Association of the Philippines said local foreign exchange trading opened at P58.75, weaker than Friday’s P58.6. The local currency traded between […]
Read MoreMANILA, Philippines — Inflation likely accelerated in September as the peso slumped to record low levels, coupled with higher food prices and more expensive electricity, according to economists. Bank of the Philippine Islands chief economist Jun Neri said inflation may have quickened to seven percent last month after easing to 6.3 percent in August from […]
Read MoreMANILA, Philippines — The sharp depreciation of the peso against the dollar alongside higher charges at the Wholesale Electricity Spot Market (WESM) could raise Manila Electric Co. (Meralco)’s generation charge for October. “We still haven’t received suppliers’ bills. However, we expect the steep depreciation of the peso to put upward pressure on generation costs, as […]
Read MoreMANILA, Philippines — The government increased its borrowings for the first time this year to P133 billion in August, as the Marcos administration marked its second month in office. Latest data from the Bureau of the Treasury showed that total borrowings for August rose by 13.25 percent from the P117.74 billion in obligations in the […]
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