MANILA, Philippines — Fitch Solutions Country Risk & Industry Research expects the peso to weaken further to 51 to $1 next year as the Philippines continues to struggle to contain the pandemic. In a commentary, the research arm of the Fitch Group said it has revised its peso forecasts to 49.20 to $1 from the […]
Read MoreMANILA, Philippines – The Asian Development Bank maintained its economic outlook on the Philippines despite the recent tightening of pandemic lockdowns, saying the economy is healing but recovery remains delicate. In an update of its flagship “Asian Development Outlook (ADO)” report released Wednesday, the Manila-based lender said the economy will likely grow 4.5% this year, […]
Read MoreMANILA, Philippines — New York-based Global Source Partners raised its 2021 inflation forecast to 4.4 percent from the original target of 4.1 percent as food prices are expected to remain elevated until the end of the year. Former finance undersecretary Romeo Bernardo, economist at Global Source, said this year’s projection was revised after the headline […]
Read MoreMANILA, Philippines — Internet in the Philippines remains pricey for Filipinos, but bandwidth quality improved this year, a new report released Tuesday found. Filipinos would have to work approximately five hours to afford the cheapest broadband internet package, although this was two hours and 18 minutes less than last year, cybersecurity company Surfshark said in […]
Read MoreMANILA, Philippines — Excise tax collections from tobacco products went up more than 31 percent to P83 billion in the seven months to July from P63 billion a year ago, the Department of Finance (DOF) said. Philip Morris Fortune Tobacco Co. Inc. (PMFTC) remained the top tax payer among tobacco firms with over 50 percent […]
Read MoreMANILA, Philippines — The Philippines is expected to be among the countries that will push global nickel production this year as the mineral sector recovers from the pandemic. In its latest report, GlobalData, a leading data and analytics company in the UK, said global nickel production is seen growing 6.8 percent to reach 2.42 million […]
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