MANILA, Philippines — Businesses have revived plans to pursue expansion programs and hire more workers next year in anticipation of a strong economic rebound from the pandemic-induced recession, according to the Bangko Sentral ng Pilipinas (BSP). Redentor Paolo Alegre, director of the BSP’s Department of Economic Statistics, said the result of the latest Business Expectation […]
Read MoreMANILA, Philippines — Bank economists see the Bangko Sentral ng Pilipinas (BSP) taking a prudent pause on Thursday to assess the impact of aggressive monetary easing, including the surprise 25 basis points rate cut last month, on the country’s ailing economy. Security Bank chief economist Robert Dan Roces said the BSP’s Monetary Board is likely […]
Read MoreMANILA, Philippines — Third telecommunications player Dito Telecommunity Corp. is hiking its population coverage target to over 90 percent once its five-year network rollout is completed to serve more areas than what it has originally committed to the government. “Our government commitments in terms of coverage for the first year it’s 37 percent, second year […]
Read MoreMANILA, Philippines — The World Bank has downgraded its economic forecast for the Philippines this year following the still steep decline in output in the third quarter and the onslaught of devastating typhoons last month. In the December issue of the Philippines Economic Update, the multilateral lender said its now expects the gross domestic product […]
Read MoreFor clearer view of pandemic impact on banks MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has shortened to end-December the time given to banks to reclassify loans to borrowers as past due and non-performing, to see a clearer picture of the impact of the COVID-19 pandemic on the banking sector. BSP Deputy Governor […]
Read MoreMANILA, Philippines — Remittances from overseas Filipinos are expected to remain broadly steady this year despite the adverse impact of the coronavirus pandemic on the global economy, according to digital payments provider WorldRemit. Earl Melivo, WorldRemit country director for the Philippines, said the company sees the inflow of remittances to remain “resilient,” with a projected […]
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