MANILA, Philippines — Southeast Asia’s “everyday app” Grab has updated its ride policy to reduce unreasonable cancellations for both drivers and passengers. To eliminate excessive cancellations that affect the ridesharing experience for both drivers and passengers, Grab said yesterday it has put in place a number of initiatives and policies to discourage cancellations on both […]
Read MoreMANILA, Philippines — The reversal of the tightening cycle and the reduction of the level of deposits banks are required to keep with the central bank are “inevitable,” according to the Bangko Sentral ng Pilipinas. During the general membership meeting of the Financial Executives of the Philippines (FINEX) BSP Governor Benjamin Diokno said monetary authorities […]
Read MoreMANILA, Philippines — Private economists expect inflation this year to fall within the two to four percent target set by the Bangko Sentral ng Pilipinas (BSP), according to a survey conducted by the central bank. BSP Governor Benjamin Diokno said inflation expectations of private sector economists are now lower and aligned to the inflation target. “Analysts expect inflation in 2019 and 2020 to settle within […]
Read MoreMANILA, Philippines — The country’s raw sugar production is expected to marginally improve in the next crop year despite the effects of the El Niño phenomenon, the United States Department of Agriculture (USDA) said. In the latest report of the USDA Foreign Agricultural Service (FAS), the Philippines is seen to produce 2.2 million metric tons […]
Read MoreMANILA, Philippines — The Philippines now has more room to unwind last year’s monetary policy tightening as inflation is now under check, but must carefully assess if lowering policy rates would spur growth, according to multilateral banks. The Monetary Board will convene on May 9, the day the first quarter gross domestic product (GDP) performance […]
Read MoreMANILA, Philippines — Fitch Ratings has slashed the country’s gross domestic product (GDP) growth forecasts for 2019 and 2020 due to the delayed passage of the 2019 national budget, the series of rate hikes by the Bangko Sentral ng Pilipinas (BSP) and the trade war between the US and China. In a report, Fitch Ratings […]
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