MANILA, Philippines — The country’s automotive industry is optimistic of vehicle sales returning to pre-pandemic levels this year as it projects a 10 to 15 percent growth in sales, according to an official of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI). In an interview with reporters, CAMPI president Rommel Gutierrez said they […]
Read MoreTo tackle stubborn inflation MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may raise interest rates by 50 basis points this week as it tries to address the stubbornly elevated inflation that rocketed to a fresh 14-year high of 8.7 percent in January from 8.1 percent in December. In a report, Moody’s Analytics said […]
Read MoreMANILA, Philippines — The government’s voluntary retirement savings program reported a significant increase in contributions in 2022, speaking volumes on the public’s spending priorities as living expenses turn expensive by the day. In a statement on Tuesday, the Bangko Sentral ng Pilipinas said that personal equity and retirement account (PERA) contributions ballooned 30% year-on-year to P329.6 […]
Read MoreMANILA, Philippines — Vehicle sales in the country welcomed the year with an over 40 percent increase, continuing the double-digit growth momentum in 2022. Latest data from Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and the Truck Manufacturers Association (TMA) showed that new motor vehicle sales reached 29,499 units in January, a 42.1 […]
Read MoreMANILA, Philippines — Japanese investment bank Nomura expects a shallower economic growth dip for the Philippines this year, raising its gross domestic product (GDP) growth forecast to 5.5 percent from the original target of 4.3 percent. Nomura chief ASEAN economist Euben Paracuelles and analyst Rangga Cipta cited the better-than-expected GDP growth of 7.2 percent in […]
Read MoreMANILA, Philippines — Bank economists are divided on whether the Bangko Sentral ng Pilipinas (BSP) is going for a softer 25-basis-point interest rate hike or maintain the aggressive 50-basis-point increase this week, as inflation blew past expectations to hit a fresh 14-year high of 8.7 percent in January from 8.1 percent in December. China Bank […]
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