MANILA, Philippines — Regulatory impediments are hampering the Philippines’ digital shift, raising internet costs even as network speed has not caught up with rest of Southeast Asia despite a welcome boost from movement restrictions brought by the pandemic. In a joint report with the National Economic and Development Authority, the World Bank said that while […]
Read MoreMANILA, Philippines — Manufacturing output declined at a slower pace in August even with the reimposition of a strict lockdown in Metro Manila and surrounding areas during the month, the Philippine Statistics Authority (PSA) said. Factory output, as measured by the Volume of Production Index (VoPI), declined at a slower pace of 9.8 percent in […]
Read MoreMANILA, Philippines — Price increases in consumer goods continued to ease in September as food prices were mostly lower, the Philippine Statistics Authority (PSA) reported yesterday. The continued growth in transportation cost, however, threatens the stability of inflation in the remaining months of the year. Headline inflation fell further to 2.3 percent in September from […]
Read MoreMANILA, Philippines — Credit card billings plunged by 27 percent in the first semester as usage slumped amid the coronavirus pandemic. Alex Ilagan, executive director of the Credit Card Association of the Philippines (CCAP), said “the high unemployment rate, as well as the loss of livelihood for self-employed individuals and small business owners took its […]
Read MoreMANILA, Philippines — The country is importing as much as 300,000 metric tons of rice until the end of the year, giving it a stable buffer stock by 2021. In a virtual briefing Tuesday, Agriculture Secretary William Dar said the DA expects about 200,000 to 300,000 MT of rice to arrive in the country for […]
Read MoreMANILA, Philippines — The World Bank said it is committed to supporting the digital transformation of the Philippines, but underscored the need for reforms particularly in the investment environment. “The World Bank is committed to supporting the Philippines in its digital economy agenda. Reforms that will enable digital transformation across the government and the private […]
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