MANILA, Philippines — The peso extended yesterday its losing streak to six trading days, slumping to a new record low of 57.18 to $1, 4.5 centavos weaker than Wednesday’s 57.135. The local currency, which has been hitting all-time lows since Friday last week, opened stronger at 57.07 and strengthened to an intraday high of 57.06. […]
Read MoreMANILA, Philippines — UK-based think tank Pantheon Macroeconomics has hiked its inflation forecast for the Philippines to five percent this year, but it expects a slowdown to take hold by the fourth quarter. Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics, said in a report yesterday the think tank has raised its average inflation […]
Read MoreMANILA, Philippines (Updated, 11:39 a.m.) — There were fewer jobless Filipinos in July as the economy continues to reopen, although more people sought additional work to boost their income amid rising consumer prices. Results of a nationwide survey of 43,521 families showed there were 2.60 million Filipinos who were either jobless or out of business in July, […]
Read MoreMANILA, Philippines — The Foundation for Economic Freedom (FEF) is pushing for the opening of the rice and corn sectors to full foreign ownership to boost the supply of the staples. “We, the FEF, call on the 19th Congress to build on its momentum to attract more capital into the country by removing foreign investment […]
Read MoreMANILA, Philippines — The country’s economic growth may slow further in the coming quarters amid accelerating inflation, according to economists. Taimur Baig, chief economist at DBS, said the country’s gross domestic product (GDP) expansion is likely to revert to the six percent range in the coming quarters, but is on track to reach seven percent […]
Read MoreMANILA, Philippines (Updated 11:34 a.m.) — Inflation in the Philippines slightly eased in August on lower transport costs as global oil prices started to fall, but the pressure on the Marcos Jr. administration and the central bank to tame rapid price increases remains. Inflation, as measured in the consumer price index, accelerated to 6.3% year-on-year, the Philippine Statistics Authority reported […]
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