MANILA, Philippines — Inflation is likely to hit as much as 5% this month even as signs are emerging that tight meat supplies responsible for the price uptick in recent months are abating, the central bank said on Wednesday. The official projection is pegged between 4.2% and 5% inflation for March, this time driven by […]
Read MoreMANILA, Philippines — The Philippines slid by a notch in a global ranking of gender equality after headways to bring more Filipinas to the labor force got stunted while the pandemic wiped out gains in closing gender gaps around the world. Out of 156 countries, the Philippines inched down to the 17th spot in this […]
Read MoreMANILA, Philippines — Local insurance technology startup Kwik.insure has launched the country’s largest online insurance marketplace with over 100 life and non-life insurance products from more than a dozen of the country’s top insurance and healthcare providers. The digital platform aims to help Filipinos gain democratized access to insurance products that are tailored for their […]
Read MoreMANILA, Philippines — The government’s budget shortfall widened to P116 billion in February as pandemic response expenditures outpaced revenue collections by a wide margin, according to the Bureau of the Treasury (BTr). The latest budget deficit figure was more than three times the P37.6 billion shortfall in the same period last year, driving the year-to-date […]
Read MoreMANILA, Philippines — The financial and operational performance of low-cost carriers Cebu Pacific and AirAsia Philippines suffered severely last year due to the pandemic. Cebu Pacific yesterday reported a P22.2 billion net loss in 2020, a reversal of the P9.12 net income in 2019. The airline said it flew five million passengers last year, 78 […]
Read MoreMANILA, Philippines — Banks are expected to dispose about P152 billion worth of non-performing assets (NPAs) under a new law allowing the industry to offload soured loans, even at substantial discount, to ensure a sound and safe financial system amid the global health crisis, according to the Bangko Sentral ng Pilipinas (BSP). BSP Governor Benjamin […]
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