MANILA, Philippines — The rate of increase in consumer prices was likely unchanged in August as oil and food prices managed to ease further last month, an international think tank said. In its weekly brief, London-based Capital Economics said it expects inflation in August to remain at four percent, the same rate in July when […]
Read MoreMANILA, Philippines — Lazada Philippines expects continued growth in sales on the platform this year as it looks to encourage more consumers to shop and businesses to go online through its sales events and other initiatives, including cashback for purchases. “We definitely expect to continue growing,” Lazada Philippines chief operating officer Carlos Barrera said in […]
Read MoreMANILA, Philippines — The government more than doubled its borrowings in July, bringing the country’s outstanding debt to a new record high of P11.61 trillion, the Bureau of the Treasury said. Based on records, the government hiked its gross borrowings to P337.14 billion in July, a 150.6-percent increase from P134.53 billion a year ago. Domestic […]
Read MoreMANILA, Philippines — New York-based think tank Global Source Partners lowered anew its 2021 gross domestic product (GDP) growth forecast for the Philippines to 3.5 percent, slower than the revised four to five percent target set by the Development Budget Coordination Committee (DBCC). In a report written by economists Romeo Bernardo and Marie Christine Tang, […]
Read MoreMANILA, Philippines — Local stocks will seek guidance from the government’s decision on quarantine classification, particularly as the shift to granular lockdown will enable more businesses to reopen and people to return to work. “The local bourse may take cues from the government’s decision regarding the quarantine classifications of the country. Last week’s positive performance […]
Read MoreMANILA, Philippines — The country’s manufacturing sector went back into contraction mode in August, posting its lowest output in 15 months, as the surge in cases due to the Delta variant prompted the reimposition of strict lockdown measures. Market intelligence firm IHS Markit said the Philippines’ headline purchasing managers’ index (PMI) fell sharply to 46.4 […]
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