MANILA, Philippines — The recovery of foreign direct investment (FDI) inflows demonstrates investors continued confidence in the Philippines’ long-term growth prospects, according to the Department of Finance (DOF) . In his latest economic bulletin, Finance undersecretary Gil Beltran said that while FDIs initially suffered following the imposition of lockdowns in mid-March, inflows showed a quick […]
Read MoreMANILA, Philippines — The earnings of the Bangko Sentral ng Pilipinas (BSP) dropped by 35 percent to P13.71 billion from January to August compared to P33.51 billion in the same period last year due to lower revenues and net loss on foreign exchange rate fluctuations. According to the BSP, its revenue comprised mostly of interest […]
Read MoreMANILA, Philippines — The government has launched the National Food Policy which formalizes the country’s commitment to end hunger and malnutrition. During the closing of the 2020 World Food Day over the weekend, Agriculture Secretary William Dar and Cabinet Secretary Karlo Nograles formally launched the NFP. Nograles chairs the Interagency Task Force on Zero Hunger. […]
Read MoreMANILA, Philippines — Remittances from overseas Filipino workers (OFWs) contracted by 2.6 percent to $21.41 billion from January to August compared to last year’s $21.99 billion amid the massive displacement caused by the impact of the pandemic on the global economy, the Bangko Sentral ng Pilipinas (BSP) reported yesterday. For August alone, personal remittances including […]
Read MoreMANILA, Philippines — Mall and other space owners were asked on Thursday not to evict stalls unable to pay their rent and instead extend relief to tenants disproportionately battered by the pandemic. “Sales have plunged to their worst in decades. There has been a cascade of store closures and jobs losses,” Benedicto Yujuico, president of […]
Read MoreMANILA, Philippines — Sen. Francis Pangilinan is urging the government to revisit its food supply chain and focus on logistics and transport amid spikes in some commodity prices. “There’s something wrong with the food price hikes. There’s demand and there’s supply. Our people are going hungry. Our farmers are producing more. Transport seems to be […]
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