MANILA, Philippines — The country’s economic recovery this year remains in jeopardy as the chances of achieving herd immunity are getting dimmer, even as the government moves to stop imposing restrictions and mobility curbs. In a report, London-based Capital Economics said prospects for a strong economic rebound for the Philippines this year are dimming with […]
Read MoreMANILA, Philippines — Loans released by big banks shrank for the eighth straight month, although at a slower pace of 0.7 percent in July from two percent in June, as consumer lending contracted further due to rising COVID-19 infections with the emergence of the highly contagious Delta variant. Preliminary data released by the Bangko Sentral […]
Read MoreMANILA, Philippines — Filipinos need to stay vigilant amid the jump in online fraud cases over the past three months, global payments firm WorldRemit said. Earl Melivo, country director for the Philippines at WorldRemit, said the number of fraud cases has increased amid the accelerated growth in the use of digital methods of making payments […]
Read MoreMANILA, Philippines — Local shares finished in the green on Thursday, as investors’ optimism on vaccination rates trump concerns on the country’s elevated virus caseload. The 30-member Philippine Stock Exchange index gained 0.72% to close at 6,834.66. The broader All Shares index, meanwhile, inched up 0.40%. All sub-indices ended in the positive territory, with mining and oil […]
Read MoreMANILA, Philippines — Inflation in August likely accelerated and stayed above the government’s two to four percent target on the back of higher food prices, weak peso and more expensive power rates, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said inflation last month could settle within the 4.1 to 4.9 percent […]
Read MoreMANILA, Philippines — Bank lending continued to contract in July, albeit at a milder pace, but the recent return to harsh lockdowns may reverse some gains. Excluding lending to each other, outstanding loans of big banks fell 0.7% year-on-year in July to P9.12 trillion, the Bangko Sentral ng Pilipinas reported Wednesday. This drop was slower compared […]
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