MANILA, Philippines — Banks’ bad loans are expected to pick up until the first half of next year as the country continues to struggle to contain the pandemic. In a virtual media roundtable, Joyce Ong, analyst at Moody’s Investors Service, said the Philippine banking sector is expected to suffer from an elevated non-performing loan (NPL) […]
Read MoreMANILA, Philippines — The reimposition of stricter lockdown and quarantine measures in the National Capital Region (NCR) starting Friday could further dampen the recovery prospects of the Philippines from the pandemic-induced recession, according to Moody’s Investors Service. In a virtual media roundtable, Moody’s senior vice president Christian de Guzman said the reimposition of enhanced community […]
Read MoreMoody’s Investors Service forecasts a 5-percent credit growth in the Philippines this year but warned that further lockdowns are a key downside risk. Moody’s analyst Joyce Ong said in a virtual briefing on Tuesday that credit growth in the country will likely remain moderated below pre-pandemic levels as businesses postpone expansion plans due to Covid-19 pandemic. “In terms of […]
Read MoreMANILA, Philippines — The country’s manufacturing sector slowed down in July as threats of the COVID Delta variant and other pandemic-related restrictions continue to weaken demand. Market intelligence firm IHS Markit said the country’s headline purchasing managers’ index (PMI) registered at 50.4 last month, lower than the 50.8 recorded in June. Despite the slowdown, July’s […]
Read MoreMANILA, Philippines (Update 1, 10:22 a.m.) — The Philippine Statistics Authority reported that jobless rate was steady in June, but looming harsh lockdowns in Metro Manila could throw a spanner in the works. In a briefing, National Statistician Claire Dennis Mapa reported there were 3.76 million people who were either unemployed or out of business in June, higher […]
Read MoreMANILA, Philippines — The Bureau of Customs surpassed its collection target in July by more than P4 billion as imports recovered and returns from 14 ports improved. In a report yesterday, the Customs said taxes and duties it generated in July rose by over eight percent to P58.18 billion from P53.75 billion during the same […]
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