Higher-yielding emerging market (EM) currencies, including the Philippine peso, have stabilized after the Fed paused its hiking cycle and the ECB indicated that it might restart QE. Encouraged by the increasingly dovish global central banks, investors looking for yield have flocked to emerging markets to profit from “carry trades.” What is a carry trade? A […]
Read MoreMANILA, Philippines — The government plans to suspend the importation of round scad (galunggong) amid improving local production. Agriculture Secretary Emmanuel Piñol said he would issue an order suspending the importation after the Holy Week. “We are intending to suspend the importation already because we have enough fish right now,” he said. The Department of Agriculture (DA)’s […]
Read MoreMANILA, Philippines — The country’s external payments position strengthened for the fifth straight month with a balance of payments (BOP) surplus of $627 million in March, reversing the $266 million deficit recorded in the same month last year, as more foreign exchange continued to flow into the country, according to the Bangko Sentral ng Pilipinas […]
Read MoreMANILA, Philippines — The Bureau of Internal Revenue (BIR) is planning to audit the income taxes that were withheld and remitted by Philippine offshore gaming operators (POGOs) for their foreign workers, a top official of the agency said. In an interview, Internal Revenue Deputy Commissioner Arnel Guballa said the agency is planning to counter-check the […]
Read MoreMANILA, Philippines — The Philippines plans to slow down the processing of meat import permits amid the current oversupply which is affecting the local hog and poultry sectors. In a meeting with local producers, Agriculture Secretary Emmanuel Piñol said stakeholders agreed to start a rationalization program amid the need to conduct a study on the […]
Read MoreMANILA, Philippines — Net inflows of foreign direct investments (FDI) tumbled by 38.2 percent to $609 million in January from $986 million in the same period last year amid the worsening trade war between the US and China which prompted jittery investors to withdraw their funds from the local equities market. According to the Bangko […]
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