MANILA, Philippines — Local vehicle assemblers registered a 15 percent decline in sales in January from a year ago on continued weak demand for cars. The joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association Inc. (TMA) released yesterday showed total vehicle sales reached 26,888 units in January, down […]
Read MoreMANILA, Philippines — Economists see the peso rebounding close to 52 versus the dollar in the next few months as investors regain confidence in emerging markets, but expect a “moderate depreciation” to 54.40 by yearend. Speaking during the general membership meeting of the Management Association of the Philippines (MAP), World Bank senior economist for the […]
Read MoreMANILA, Philippines — The Energy Regulatory Commission (ERC) has ordered Manila Electric Co. (Meralco) to use unclaimed tax refund to reduce power rates. ERC has directed Meralco to submit a proposed scheme that incorporates the unclaimed tax refund for purposes of reducing the distribution rates of its customers, among others. It also directed the country’s largest power distributor to […]
Read MoreMANILA, Philippines — Foreign selling pulled down the market yesterday, sending the index below the 8,000 mark. The benchmark Philippine Stock Exchange index tumbled by 76.83 points, or 0.97 percent, to close at 7,833.75. The broader All Shares gauge, meanwhile, was down 38.71 points, or 0.80 percent, to end at 4,802.89. The sectoral indices fared […]
Read MoreMANILA, Philippines — The government is studying the possibility of imposing a non-tariff fee for sugar imports in line with liberalizing the sugar industry, the chief of the Department of Trade and Industry (DTI) said. In an interview, Trade Secretary Ramon Lopez said one of the possible solutions to liberalize the sugar industry is to impose a non-tariff […]
Read MoreMANILA, Philippines — Economists see no respite from the swelling trade deficit hitting record levels over the next two years amid soft global export market and rising imports of capital equipment and raw materials to support the growing economy. Lindsey Ice, economist at Barcelona-based think tank Focus Economics, said the trade gap may widen to […]
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