MANILA, Philippines — Retail prices of construction materials in the capital region slightly went up in March, the Philippine Statistics Authority (PSA) said. The Construction Materials Retail Price Index (CMRPI) in the National Capital Region moved upward to 1.2 percent from 1.1 percent in February. It is also much faster than the 0.9 percent recorded […]
Read MoreMANILA, Philippines — Capturing the digital economy into the country’s tax system will not be a walk in the park as several barriers have yet to be addressed. In a recent study, state-run think tank Philippine Institute for Development Studies (PIDS) said the “complex and multifaceted” nature of the digital economy creates tax issues and […]
Read MoreMANILA, Philippines — The restoration of consumer confidence is crucial to get the country back on its feet from the pandemic-induced recession, according to Metropolitan Bank & Trust Co. (Metrobank). Pauline Revillas, research analyst at Metrobank, said the restoration of consumer confidence to spend outside of discretionary spending is vital to ensure that the country’s […]
Read MoreMANILA, Philippines — The prospects of a strong economic rebound for the Philippines this year continue to fade as mobility restrictions and slow COVID-19 vaccine rollout are blocking the road toward recovery, a global think tank said. In its latest Global Outlook, London-based Oxford Economics slashed its gross domestic product (GDP) forecast for the country […]
Read MoreMANILA, Philippines — The asset quality of Philippine banks further deteriorated for the second straight month in February as the industry’s gross non-performing loan (NPL) ratio rose to 4.08 percent, the highest in more than 11 years due to the impact of the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP). The latest […]
Read MoreMANILA, Philippines — Moody’s Investors Service has raised the outlook of Philippine banks to stable from negative on expectations of a mild recovery from the pandemic-induced recession. In a report, Moody’s said the recovery from the record 9.6 percent gross domestic product (GDP) contraction last year would support the operating environment for banks. “Operating environment […]
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