MANILA, Philippines — Car sales recovered in May after registering the lowest level in April as the government eased community quarantine restrictions. On a year-on-year basis, however, sales in May went down by 85 percent on weak demand for both passenger cars (PC) and commercial vehicles (CV). Data released yesterday showed that the combined sales […]
Read MoreMANILA, Philippines — The government has recorded a decline in the importation of poultry meat and products which could help local raisers recover from the effects of the coronavirus pandemic. Data from the Bureau of Animal Industry showed that the volume of poultry meat imports declined by 23 percent from 43,000 metric tons in January […]
Read MoreMANILA, Philippines — Lower loan take-up from both consumer and businesses eased bank lending growth in April, as the impact of one of the world’s longest and toughest coronavirus lockdowns became more pronounced during the month. Data from the Bangko Sentral ng Pilipinas released Monday showed outstanding loans by big banks — net of reverse […]
Read MoreMANILA, Philippines — Credit growth slowed down in April, ending five straight months of faster loan disbursements as containment measures such as the enhanced community quarantine to limit the spread of the coronavirus disease or COVID-19 outbreak took its toll on economic activity, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data released by […]
Read MoreMANILA, Philippines — A cross-border exchange of leisure travelers from the provinces of Western Visayas, driven by the reopening of Boracay, is a good move for the takeoff of the domestic tourism market in the country, according to an industry group. “If we could come up with coronavirus disease 2019 or COVID-19 protocols for province to […]
Read MoreMANILA, Philippines — Lower disbursements and budget due to the coronavirus disease 2019 or COVID-19 pandemic may dent the growth prospects of the country’s infrastructure sector this year, according to Fitch Solutions Country Risk & Industry Research. In a report, the research arm of the Fitch Group said the country’s infrastructure sector may grow by […]
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