MANILA, Philippines — The “Great Lockdown” from March may have already eased, but is not loosened enough to put the brakes on the Philippine economy’s fall this year. Even with most of the economy already reopened, the existence of some form of movement restrictions to fight the deadly coronavirus would force the economy to contract faster […]
Read MoreMANILA, Philippines — BDO Unibank Inc. said the Philippine economy is set to recover with smaller gross domestic product (GDP) contractions in the third and fourth quarters, paving the way for a full recovery next year amid the pandemic. In a Market Sense webinar titled “Gearing up for recovery” organized by BDO Trust Group, BDO chief […]
Read MoreMANILA, Philippines — Loans extended by banks to large enterprises that recorded a 25 percent drop in gross receipts and are unable to pay financial obligations due to the pandemic are now considered as alternative compliance with the reserve requirements, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno said the regulator approved […]
Read MoreMANILA, Philippines — The government is committed to re-open more sections of the economy in line with efforts to return to a growth trajectory, according to the National Economic and Development Authority (NEDA). In a statement over the weekend, Acting Socioeconomic Planning Secretary Karl Chua said the government would also ensure the greater availability of […]
Read MoreMANILA, Philippines — The Department of Trade and Industry (DTI) is aiming to complete the country’s e-commerce roadmap within the year. “We are working on an e-commerce roadmap. Hopefully it can be completed by end of the year,” Trade Assistant secretary Jean Pacheco said during the online dialogue of the Union of Local Authorities of […]
Read MoreMANILA, Philippines — Nearly 70 percent of micro, small and medium enterprises (MSMEs) reported lower sales due to the pandemic, according to a survey conducted by the Department of Trade and Industry (DTI). During the online dialogue of the DTI with the Union of Local Authorities of the Philippines, Trade Undersecretary Ireneo Vizmonte said the […]
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