MANILA, Philippines — The re-imposition of hard lockdowns in the capital and nearby provinces in August sent local factory output crashing to its lowest level in 15 months, derailing an already fragile recovery of the beleaguered manufacturing sector. A monthly survey of around 400 companies showed the Philippines’ purchasing managers’ index (PMI), a measure of […]
Read MoreMANILA, Philippines — Economic recovery for the Philippines will continue to be tough, with its return to pre-crisis levels seen only by late 2023, the Asian Development Bank (ADB) said. In a webinar organized by the United Nations Development Program (UNDP) Philippines yesterday, ADB country director Kelly Bird said economic recovery for the Philippines has […]
Read MoreMANILA, Philippines — Three in every five poor Filipinos said their income fetll this year as the pandemic drags on and continues to impact the most vulnerable sector of society. Results of the third phase of the COVID-19 Pulse PH conducted by the United Nations Development Program (UNDP) Philippines and Zero Extreme Poverty 2030 revealed […]
Read MoreBy Sameer Manekar Sept 1 (Reuters) – The Philippine peso and the Thai baht weakened over half a percent each on Wednesday, leading declines among largely mixed Asian currencies as a slew of soft regional economic data as well as from the United States and China weighed on the sentiment. The Philippine peso slipped as […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) ordered the closure of the Rural Bank of Datu Paglas Inc. based in Maguindanao, bringing to five the number of problematic banks shuttered this year. BSP Deputy Governor Chuchi Fonacier said the Monetary Board issued Resolution 110.A last Aug. 26 prohibiting the Rural Bank of Datu […]
Read MoreMANILA, Philippines — The Philippines remains a laggard in the Association of Southeast Asian Nations (ASEAN) in terms of real gross domestic product (GDP) growth despite the strong double-digit expansion in the second quarter of the year, according to the DBS Bank Ltd. of Singapore. In a report, DBS said most member countries of the […]
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