MANILA, Philippines — The percentage of Filipino households with savings at present reached an all-time high in the third quarter as consumers expect inflation, interest and unemployment rates to increase and the peso to weaken against the dollar, according to the results of a quarterly survey conducted by the Bangko Sentral ng Pilipinas. Redentor Paolo […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) may further ease the country’s monetary policy settings through another 25-basis points rate cut this week as the economy continues to find its way back to higher growth, according to economists. Noelan Arbis, economist at British banking giant HSBC, said the fast declining inflation provides room […]
Read MoreMANILA, Philippines — The country’s top distilleries has warned lawmakers that imposing too much tax increases may dampen demand for alcoholic products, which may result in lower revenues and tax yield for the government. In a position paper submitted to the Senate ways and means committee, Distilled Spirits Association of the Philippines (DSAP) president Olivia Limpe-Aw […]
Read MoreMANILA, Philippines — The Philippines continued to maintain a healthy external payments position, posting a balance of payments (BOP) surplus of $5.53 billion in the first eight months, reversing a $2.44 billion deficit recorded in the same period last year, the Bangko Sentral ng Pilipinas reported yesterday. “The surplus may be attributed partly to remittance […]
Read MoreMANILA, Philippines — The recent supply disruption caused by attacks on Saudi Arabia’s oil facilities is no longer expected to exert inflationary pressure after the Middle East oil giant announced it can normalize oil production within the month,” Socioeconomic Planning Secretary Ernesto Pernia said yesterday. “Saudi has said they will be back in full business […]
Read MoreMANILA, Philippines — While the Philippines could see a spike in nickel prices when it is able capitalize on Indonesia’s nickel ore ban, the government is unsure if the local sector will be able to meet the demand for high grade ore. In an interview, Mines and Geosciences Bureau (MGB) director Wilfredo Moncano told reporters […]
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