MANILA, Philippines — After a four-day upswing, stocks succumbed to selling pressure as investors anticipate February inflation to breach the upper end of the government’s target. The benchmark Philippine Stock Exchange index (PSEi) closed at 6,882.49, down 60.27 points or 0.86 percent. Likewise, the broader All Shares index slipped 23.54 points or 0.56 percent to […]
Read MoreMANILA, Philippines — Ayala-led Bank of the Philippine Islands (BPI) expects the country’s economic contraction to slowdown further in the first quarter amid the expected recovery this year. BPI lead economist Jun Neri said the country’s gross domestic product (GDP) would contract at a slower pace of two percent in the first quarter from 8.3 […]
Read MoreMANILA, Philippines — The Philippine Ports Authority (PPA) expects a recovery in cargo traffic this year after volume plunged by 13.5 percent last year, but its return to pre-pandemic levels is not seen in the short-term. Cargo volume fell to 230.43 million metric tons (MMT) last year from 266.42 MMT in 2019, PPA general manager […]
Read MoreMANILA, Philippines — The Philippine Ports Authority (PPA) expects a recovery in cargo traffic this year after volume plunged by 13.5 percent last year, but its return to pre-pandemic levels is not seen in the short term. Cargo volume fell to 230.43 million metric tons last year from 266.42 MMT in 2019, PPA general manager […]
Read MoreS&P expects credit recovery this year MANILA, Philippines — S&P Global Ratings expects Philippine banks to build up their lending portfolio again this year after slumping for the first time in 14 years in 2020 due to uncertainties brought about by the COVID-19 pandemic. Nikita Anand, associate director at S&P, said in a webinar that […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) plans to extend temporary regulatory relief measures to convince banks to offload soured loans even at substantial discount to ensure a sound and safe financial system amid the global health crisis. In a draft memorandum, the central bank said the proposed measures would encourage BSP-supervised financial […]
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