MANILA, Philippines (Update 1, 12:12 p.m.) — Renewed lockdowns meant to arrest a surge fueled by the Delta variant tempered growth in the third quarter, although the economy avoided a contraction after the government changed tack and imposed less damaging restrictions. Gross domestic product, or the sum of all goods and services created in an economy, grew 7.1% year-on-year […]
Read MoreMANILA, Philippines — The Philippine economy grew faster than initially estimated in the second quarter, state statisticians reported Monday. Gross domestic product grew 12% year-on-year in the April-June period, better than the 11.8% preliminary reading reported in August, the Philippine Statistics Authority said in a statement. The upward revision was due to adjustments to growth rates […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) said three economic indicators – the balance of payments, budget deficit and interest rates – should be monitored in the country’s path toward recovery as quarantine restrictions are starting to ease. Finance Undersecretary and chief economist Gil Beltran said the government should keep its BOP and fiscal […]
Read MoreMANILA, Philippines — The country likely posted positive economic growth in the third quarter although at a slower pace after emerging from the pandemic-induced recession in the second quarter, according to private economists. Security Bank chief economist Robert Dan Roces said the country’s gross domestic product (GDP) likely expanded by 10.4 percent in the third […]
Read MoreMANILA, Philippines — SM Prime Holdings Inc. reported higher earnings in the first nine months, although a revenue slump during the period showed the property giant is not yet out of the coronavirus hole. Consolidated net income stood at P15.6 billion in the January-September period, up 9% year-on-year, the Sy-led company said in a statement […]
Read MoreMANILA, Philippines — The Philippines is pushing for the review of the bilateral free trade agreement (FTA) with Japan to keep it up to date with other trade deals and allow greater market access for agricultural products. “The Philippines’ bilateral agreement with Japan was its first ever bilateral FTA and since it has been already […]
Read More
Thailand
