MANILA, Philippines — The country’s banking industry recorded a double-digit growth in deposits in the first semester as more Filipino households substantially raised their savings amid the coronavirus pandemic, according to the Bangko Sentral ng Pilipinas (BSP). According to the BSP, bank deposits expanded by 12.4 percent to P11.2 trillion from January to June compared […]
Read MoreMANILA, Philippines — The Bureau of Customs (BOC) is conducting post-modification and post-audit measures to ensure that rice shipments that entered the country are properly assessed and levied with the correct taxes and duties. In a report to Finance Secretary Carlos Dominguez, Customs Commissioner Rey Leonardo Guerrero said traders were allowed to avail of the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may keep the country’s accommodative monetary policy stance over the next two years to help the economy fully recover from the impact of the COVID-19 pandemic. In an interview with ANC’s Market Edge, BSP Governor Benjamin Diokno said monetary authorities are likely to maintain the current […]
Read MoreMANILA, Philippines — The government is urging cigarette manufacturers to nearly double their procurement of local tobacco as the industry gears up for the new season. The National Tobacco Administration recently had a consultative meeting with cigarette manufacturers, leaf buyers and traders to boost the industry and benefit local growers amid the pandemic. Currently, local […]
Read MoreMANILA, Philippines — London-based think tank Capital Economics expects the peso to further appreciate to 47 to $1 by the end of the year on the back of the country’s robust external position and narrowing trade deficit. In a report, Capital Economics economist for Asia Alex Holmes said the peso may strengthen further in the […]
Read MoreMANILA, Philippines — Additional liquidity injected into the financial system from various measures aimed at softening the economic impact of the coronavirus pandemic has reached P1.4 trillion, according to the Bangko Sentral ng Pilipinas. BSP Governor Benjamin Diokno told participants of a webinar organized by Standard Chartered Bank that the amount released into the financial […]
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