MANILA, Philippines — Uncertainties due to the pandemic remain an issue as the Philippines continues to fail in attracting foreign investors in the country amid the recent surge in COVID-19 cases and slow rollout of vaccines. Latest data from the Philippine Statistics Authority (PSA) showed foreign firms have yet to pour in much-needed capital to […]
Read MoreMANILA, Philippines — The Philippines is out to test investors’ appetite for longer-dated debts in a bid to stop maturities from further deteriorating and put limited government resources in a bind, no thanks to last year’s borrowing spree. Fiscal planners and observers are however not worried that more obligations are falling due much earlier than […]
Read MoreMANILA, Philippines — The downgrade of quarantine restrictions helped the manufacturing sector to bounce back last month, closing in to the stabilization level as a number of factories managed to restart operations. According to market intelligence firm IHS Markit, the country’s headline purchasing managers’ index (PMI) registered at 49.9 in May, an improvement from the […]
Read MoreMANILA, Philippines — At least half of the total retail transactions will be online as early as next year or one year ahead of the 2023 target of the Bangko Sentral ng Pilipinas (BSP) as the regulator continues to ramp up efforts to transform the Philippines to a cash-lite from a cash-heavy economy. During the […]
Read MoreTHE Philippine economy’s continued underperformance puts pressure over banks’ near-term business prospects, which could also weigh on their standalone credit profiles, according to Fitch Ratings. In its latest forecasts, Fitch Ratings was eyeing a considerably lower Philippine economic recovery in 2021 as compared to the early stages of Covid-19 pandemic. This can translate to diminished […]
Read MoreThe Bangko Sentral ng Pilipinas (BSP) said the country’s headline inflation rate for May likely remained at above 4 percent. “The BSP projects May 2021 inflation to settle within the range of 4.0 to 4.8 percent,” said BSP Governor Benjamin Diokno in a statement on Monday. Headline inflation settled at 4.5 percent last month while […]
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