MANILA, Philippines — Investments for projects approved by the Philippine Economic Zone Authority (PEZA) went down by nearly a fifth last year amid the coronavirus disease 2019 (COVID-19) pandemic. In a statement, PEZA said it approved P95.03 billion worth of projects last year, 19 percent lower than the P117.5 billion in 2019. Also, only 326 […]
Read MoreMANILA, Philippines — The growth in the country’s money supply continued to ease for the sixth consecutive month in November 2020 as credit demand remained weak amid a pandemic-induced slowdown in business activities and consumer spending, the Bangko Sentral ng Pilipinas (BSP) said yesterday. Preliminary data from the central bank showed that domestic liquidity, as […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers continued to grow in November 2020 although at a slower pace compared to previous months, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. According to the latest data from the BSP, personal remittances rose by just 0.1 percent to $2.643 billion in November last year from $2.639 […]
Read MoreMANILA (Reuters) – The Philippines on Friday extended by two weeks a ban on travelers from more than 30 territories and countries where a more transmissible COVID-19 variant has been detected, with the restriction also now covering Filipinos who want to come home. The Southeast Asian country, which has recorded its first case of a […]
Read MoreMANILA, Philippines — The country’s foreign reserves hit an all-time high in 2020 on the back of ballooning external debt while domestic demand that used to drive dollar outflows remained weak amid a pandemic-induced recession. Gross international reserves amounted to $109.8 billion as of end-December last year, up 4.77% on a month-on-month basis, the Bangko […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) yesterday assured the public that the Philippine banking system remains sound and well-capitalized, with no emerging risks seen to pose problems in the industry going forward. BSP Governor Benjamin Diokno said the central bank remains proactive in monitoring the health of the financial system to determine […]
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