MANILA, Philippines — Retail and wholesale prices of building materials in Metro Manila surged in September as business activities resumed with the easing of quarantine measures in the capital, the Philippine Statistics Authority (PSA) said. The Construction Materials Retail Price Index (CMRPI) in the National Capital Region went up to two percent from 1.6 percent […]
Read MoreMANILA, Philippines — Insurance premiums grew more than 37 percent to P187 billion in the second quarter as the economic reopening heightened demand for both life and non-life policies. According to the Insurance Commission (IC), insurers in the Philippines posted a combined profit of P24.63 billion during the period, swelling by over 29 percent from […]
Read MoreMANILA, Philippines — The Philippines’ economic recovery may be put in jeopardy as the government continues to fail in narrowing the budget shortfall, a global think tank said. In its latest economic monitor, UK-based Pantheon Macroeconomics said the Philippines’ strained public finances reflected the feeble recovery it is going through nearly two years since the […]
Read MoreMANILA, Philippines — The Duterte administration has ordered the taxman to study how other countries impose levies on digital transactions as the government seeks to cash in on an online selling craze fueled by the pandemic. The Bureau of Internal Revenue (BIR) will form a unit that will track sales of goods and services online, […]
Read MoreMANILA, Philippines — The pandemic wiped out $43 billion (P2.2 trillion) in Philippine economic output last year, with the impact of the health crisis expected to be felt until the medium term, according to Tokyo-based think tank Japan Center for Economic Research (JCER). In a report, JCER said the 15 major economies in Asia lost […]
Read MoreMANILA, Philippines — Payments made by the national government to settle its maturing foreign debts brought the Philippines’ dollar position back to a deficit in September, the Bangko Sentral ng Pilipinas reported Tuesday. What’s new The country’s balance of payments (BOP) position posted a deficit of $412 million in September, reversing surpluses recorded both in […]
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