MANILA, Philippines — Increases in wholesale prices of construction materials in the National Capital Region (NCR) eased in July, as six commodity groups registered slower upticks. The Philippine Statistics Authority (PSA) said the annual increase of the Construction Materials Wholesale Price Index (CMWPI) in NCR eased to 8.7 percent in July from 8.9 percent in […]
Read MoreMANILA, Philippines — Ty-led Metropolitan Bank & Trust Co. (Metrobank) is confident it can sustain credit growth despite the series of interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). Minda Claver Olonan, first vice president and head of investor relations at Metrobank, said in an interview with reporters during a tour of the […]
Read MoreMANILA – The Philippine peso dropped to a record low on Friday (Sept 2), boosting pressure on the central bank to raise interest rates more aggressively to stem the slide. The currency weakened beyond its previous all-time low set in 2004 after surging imports widened the trade deficit to a record high in June. The […]
Read MoreMANILA, Philippines — The Philippines continued to lag behind its Southeast Asian neighbors in motor vehicle production, as it was the only country among six that posted a decline in output in the seven months of the year. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed 48,166 motor vehicles were […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has raised the minimum capital requirements for rural banks to at least P50 million to further strengthen the country’s banking sector. BSP Governor Felipe Medalla said the increase in the minimum capitalization requirement is part of the initiatives of the central bank under the Rural Bank […]
Read MoreMANILA, Philippines — The country’s manufacturing sector showed improvement in August as it grew at a faster pace, but high prices, supply chain disruptions and rising interest rates pose challenges to growth. In its report released yesterday, S&P Global Market Intelligence said the Philippines’ manufacturing purchasing managers’ index (PMI) improved to 51.2 in August from […]
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