MANILA, Philippines — The earnings of the Bangko Sentral ng Pilipinas (BSP) more than doubled to P30.21 billion in the first five months from P14.04 billion in the same period last year on higher trading gains and operating income. Data from the central bank showed total revenues mostly comprised of interest income on foreign investments, […]
Read MoreThe Philippine e-commerce market is expected to grow to $12 billion by 2025, e-commerce solutions provider Etaily said. “On a standardized level, I would use the forecast which everyone…clearly pointing out that by 2025 the Philippine e-commerce market can be at $12 billion talking about the entire developments of the region which is even higher,” […]
Read MoreThe government’s economic managers will meet today (Wednesday) to review their macroeconomic targets in light of recent events, according to Finance Secretary Carlos Dominguez 3rd. “We are having another meeting with the DBCC tomorrow to determine what the future seems to look like given this lockdown episode we had,” he said in an interview on […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers (OFWs) continue to climb, hitting the highest level in six months in June amid further global economic reopening, although at a slower pace than the double-digit growth recorded in April and May, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said personal remittances increased […]
Read MoreThe Philippine economy will likely be back to its pre-pandemic level next year but further lockdowns could delay the recovery to 2023, an economist from Rizal Commercial Banking Corporation (RCBC) said. “We’re estimating a return to pre-Covid levels for the economy by the latter part of next year,” Ricafort said in a briefing on Monday. Ricafort said […]
Read MoreThai car exporters’ prospects have become brighter after the Philippines scrapped plans to impose tariffs on cars imported from Thailand, and returned 1.2 billion baht worth of safeguard duty to importers. According to Thai Commerce Minister Jurin Laksanawisit, the Philippines agreed on Aug 6 to scrap the tariff plans and return the import duties, after […]
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