MANILA, Philippines — The rise in energy costs due to higher global oil prices amid the Ukraine-Russia war will drag down the Philippines’ gross domestic product (GDP) by as much as one percentage point, ANZ Research said. Sanjay Mathur, chief economist for Southeast Asia and India at ANZ Research, said in a note that surging […]
Read MoreTHE Bangko Sentral ng Pilipinas (BSP) plans to launch a pilot central bank digital currency (CBDC) in the near future, its head said. “As next step, the BSP targets to roll out in the near term, a pilot CBDC implementation which we call Project CBDCPh,” Bangko Sentral Governor Benjamin Diokno was quoted as saying in […]
Read MoreMANILA, Philippines — The manufacturing sector started at a slow pace in January following the surge in new COVID cases due to the Omicron variant. Factory output, as measured by the Volume of Production Index (VoPI), went up by 16.5 percent in January, slower than the 21.3 percent in December, but still better than the […]
Read MoreMANILA, Philippines — Private companies relied more on foreign currency (FCY) bonds for their financing needs last year, reducing their exposure to the local currency (LCY) bond market. In a report, the Department of Finance (DOF) said corporate LCY bond issues fell by nearly 12 percent to P1.42 trillion last year from P1.61 trillion in […]
Read MoreMANILA, Philippines — Labor Secretary Silvestre Bello III has directed wage boards across the country to hasten their review of minimum wages over zooming fuel prices on account of Russia’s invasion of Ukraine that has sent global oil prices skyrocketing. In a statement, Bello said oil prices — which increased this week by between P3.60 […]
Read MoreMANILA, Philippines — Increasing the minimum fare in public transport could further push inflation up and affect economic growth as the government plays a balancing act between fare increase and the release of subsidies for drivers. During the House of Representatives hearing on Monday, the National Economic and Development Authority (NEDA) said the impact of […]
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