MANILA, 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 […]
Read MoreMANILA, Philippines — More speculative funds flowed out of the Philippines than what came in for the fourth straight month in August, with foreign portfolio investments yielding a net outflow, according to the Bangko Sentral ng Pilipinas (BSP). Data released by the central bank showed that total foreign investments registered through authorized agent banks registered […]
Read MoreMANILA, Philippines — An economist sees the peso slumping closer to 62 to $1 level by the end of the year amid the continued strengthening of the greenback as the hawkish US Federal Reserve delivers jumbo rate hikes to tame inflation. Jonathan Ravelas, managing director at eManagement for Business and Marketing Services, said in an […]
Read MoreMANILA, Philippines — Meat importers and traders have urged President Marcos to issue an executive order (EO) to further lower tariffs on pork imports for another five years to help address rising inflation and food security concerns. In a letter to the President through Agriculture undersecretary Domingo Panganiban, the Meat Importers and Traders Association (MITA) […]
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