MANILA, Philippines — The Philippines faces three pressing economic storm clouds, namely rising debt across countries, surging global inflation and policy normalization in advanced economies, according to former Bangko Sentral ng Pilipinas (BSP) governor Amando Tetangco Jr. During the CEO Forum hosted by the Bankers Association of the Philippines (BAP), Tetangco said the dangerous trend […]
Read MoreIN Filipino, the word “toka” is commonly uttered to assign a specific task, duty or responsibility to someone. In a family setting, it means one sibling’s share of household chores. This term is also used in planning a family vacation, fiesta, outing, and even a group activity or school project. This word is also present […]
Read MoreMANILA, Philippines — The current monetary policy tightening cycle in Asia-Pacific is favorable for Philippine banks, but is not expected to result in a significant decline in credit growth and asset quality, according to Fitch Ratings. In a report, the debt watcher said the rising interest rates would be mildly favorable and would have revenue […]
Read MoreMANILA, Philippines — The country’s factory activity slowed down in July as higher prices and global uncertainties dampened demand for products. S&P Global Market Intelligence said in a report released yesterday that the country’s purchasing managers’ index (PMI) fell to 50.8 in July from 53.8 in June. The latest reading remained above the 50-no change […]
Read MoreMANILA, Philippines — Philippine factory output posted its weakest expansion in 11 months in July, indicating a loss in growth momentum as boiling inflation hit demand for locally-produced goods. A survey of around 400 manufacturers in the country found that the Philippines’ Purchasing Managers’ Index (PMI), a gauge of manufacturing output, fell to 50.8 in July […]
Read MoreMANILA, Philippines — Ayala-led Bank of the Philippine Islands said Monday its balance sheet is strong enough to weather the impact of the Bangko Sentral ng Pilipinas’ rate hikes, although the company said it remains worried about red-hot inflation. At a press conference, top officials of the 171-year-old bank said they do not expect consumer […]
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