MANILA, Philippines — A former Sugar Regulatory Administration (SRA) board member, as well as sugar planters, are urging the government to recall the order allowing the importation of 200,000 metric tons (MT) of sugar, saying raw sugar prices have already declined. In a statement, former SRA board representative for planters Dino Yulo said local raw […]
Read MoreMANILA, Philippines — Moving up the ladder toward an upper-middle income country status by end-2022 may be an empty achievement as the economy remains fragile and the labor market has yet to recover. Research and advocacy group IBON Foundation said the government’s target to upgrade to an upper-middle income country by the end of the […]
Read MoreMANILA, Philippines — Stocks bounced back yesterday, bucking the downtrend in Asia, as an expected loosening of COVID restrictions and a likely retention of the central bank’s policy rates outweighed geopolitical risks overseas. “The index recouped its losses from last Friday’s selloff after Bangko Sentral ng Pilipinas Governor Benjamin Diokno reaffirmed that the BSP will […]
Read MoreMANILA, Philippines — The Philippine economy may not be able to recover from the pandemic and may likely suffer further setbacks if the dictator’s son, Ferdinand “Bongbong” Marcos Jr., secures the presidency, an international think tank said. In its weekly brief, UK-based Capital Economics said Marcos’ plans for the country’s economic recovery from COVID-19 and […]
Read MoreMANILA, Philippines — Japanese investment bank Nomura has raised its 2022 gross domestic product (GDP) growth forecast for the Philippines to 6.8 percent from the previous target of 6.5 percent as COVID cases start to ease. In a report, Euben Paracuelles, chief ASEAN economist at Nomura, said the upward revision reflected the faster-than-expected expansion in […]
Read MoreMANILA, Philippines — The financial technology arm of Aboitiz-led Union Bank of the Philippines expects to sustain its growth momentum, as gross transaction value processed reached P20 billion last year. John Januszczak, president and CEO at UnionBank’s UBX, said the leading open finance platform in the country aims to ride on its remarkable growth last […]
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