MANILA, Philippines – The Philippines is set to sign agreements with two more countries as early as next month to open up the banking industry aimed at greater financial integration and economic development among members of the Association of Southeast Asian Nations (ASEAN). Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said in a speech […]
Read MoreBANGKOK – Thailand has vowed to help the Philippines narrow the trade gap between the two countries by encouraging Thai companies to buy more Philippine-made products, Trade Secretary Ramon Lopez said Wednesday. Lopez said while Thailand is the sixth largest trade partner of the Philippines, the difference between the values of Manila’s exports and imports […]
Read MoreMANILA, Philippines – The deficit in the country’s balance of payments (BOP) further widened in February as the country incurred shortfalls for the past five straight months amid the negative investor sentiment arising from uncertainties brought about by the normalization of interest rates in the US, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. Data […]
Read MoreBSP cites young population, sound macroeconomic fundamentals The central bank sees continued inflow of foreign direct investments (FDI) into the Philippines in 2017 as the country remains an attractive destination for investors given its young population, vibrant industry sectors and solid macroeconomic fundamentals. FDI inflow “is going to continue, given the [country’s] sustained economic growth, […]
Read MoreTHE Philippines’ balance of payments position yielded a $436 million deficit in February, its widest deficit in four months, central bank data released on Monday showed. The payments deficit expanded from a $251 million gap a year earlier and a $9 million shortfall in January. The February deficit was the widest since November 2016, when […]
Read MoreMANILA, Philippines – Despite external economic challenges, the Philippines continues to see strong inflow of foreign direct investments (FDI), driven by the recovery in the manufacturing sector and the sustained growth in the services sector, according to the Bangko Sentral ng Pilipinas (BSP). “Manufacturing for instance is picking up again in addition to the usual […]
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