MANILA, Philippines — The country’s electronics exports are at risk, with growth lower than projected this year if the supply chain disruptions brought by the COVID-19 outbreak are prolonged. Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) president Dan Lachica said in a text message that the electronics industry is grappling with the […]
Read MoreMANILA, Philippines — Taxes collected by the Bureau of Internal Revenue (BIR) through its electronic channels jumped by almost two-fold to P1.2 billion in 2019 following the launch of an online facility linked to the central bank’s PESONet, the Department of Finance (DOF) said yesterday. Citing the latest data from the BIR, the DOF said […]
Read MoreMANILA, Philippines — The country’s economic growth momentum could be derailed, with gross domestic product (GDP) growth slowing down further and staying below six percent if the coronavirus disease-2019 (CoViD-19) outbreak lasts about six months. Ruben Carlo Asuncion, chief economist at Union Bank of the Philippines, said in a latest research note that the impact […]
Read MoreMANILA, Philippines — The Philippines is expected to maintain its status as the world’s biggest rice importer even as it decides to import less rice this year. This year, the country is seen importing some 2.5 million metric tons of rice, 13.8 percent lower than the previous year. “Global trade is down with lower estimates […]
Read MoreMANILA, Philippines — Term deposits rates fell sharply yesterday, dropping below four percent across the board as the Bangko Sentral ng Pilipinas (BSP) is expected to further slash key interest rates. The seven-day term deposits fetched 3.8943 percent at the term deposit auction facility (TDF), 12.97 basis points lower than last week’s 4.0240 percent. Likewise, […]
Read MoreMANILA, Philippines — Economic growth in the first quarter can be expected to remain at around six percent as the economy remains resilient to headwinds and public sentiment on the novel coronavirus COVID-19 outbreak begins to improve, the National Economic and Development Authority (NEDA) said. “I think we have a fighting chance,” Socioeconomic Planning Secretary […]
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