MANILA, Philippines — A new breed of digital-only banks and financial technology (fintech) companies are likely to take over the retail space as some traditional banks remain slow in developing new digital services, according to Moody’s Investors Service. In a report titled “Fintech companies can overtake incumbent banks in retail services,” Moody’s analyst Joyce Ong […]
Read MoreMANILA, Philippines — The Philippines should expedite the passage of key reform measures that would boost foreign direct investments (FDIs) and aid the country in its long-term recovery from the pandemic, the World Bank said. In a briefing with members of East Asia and the Pacific (EAP) press, World Bank president David Malpass said recovery […]
Read MoreMANILA, Philippines — With an earlier resurgence in new COVID-19 cases and the slow pace of vaccination, the Philippines may recover slower from the pandemic than other economies in Asia, according to Standard Chartered Bank. During a webinar, StanChart economist for Asia Chidu Narayanan said the bank expects the Philippines to grow by 4.6 percent […]
Read MoreMANILA, Philippines — Business groups want the Bureau of Internal Revenue (BIR) to repeal the imposition of 12 percent value-added tax (VAT) on local purchases of exporters and indirect exports, saying its implementation may lead to job losses and discourage investments in the country. In an online press conference, the business groups, consisting of the […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) expects the cost of food and transportation to rise in July due to price hikes in the international market, but supply stability and energy innovation should hold off rates from skyrocketing any further. In an economic bulletin, Finance Undersecretary and chief economist Gil Beltran said inflation the […]
Read MoreMANILA, Philippines — Dutch financial giant ING Bank sees the Philippines lagging in terms of recovery from the pandemic as it slashed the gross domestic product (GDP) growth forecast to 4.7 percent instead of five percent this year. Nicholas Mapa, senior economist at ING Bank Manila, said the downward revision was brought about by the […]
Read More
Thailand
