A whole-of-government approach, with the participation of the private sector, is the way to get the Philippines ready for the coming ‘digital tsunami’ that will transform our lives. That is the major conclusion of the conference on digital future organized by the Carlos P. Romulo Foundation which was held on Wednesday. Two hundred participants and 30 speakers […]
Read MoreMANILA, Philippines (Update 2, 2:19 p.m.) — The Philippine economy expanded at a slower pace in the third quarter amid weak consumer spending and lackluster agriculture growth, which may give the central bank a chance to hit the pause button on policy tightening to rein in inflation. Gross domestic product — or the value of all finished goods and services […]
Read MoreMANILA, Philippines — Philippine imports hit an all-time high in September while exports remained weak, bringing the trade deficit to $3.93 billion, the highest in nine months amid sustained purchase of capital goods needed for the government’s ambitious infrastructure program, the Philippine Statistics Authority (PSA) reported yesterday, a day before the release of third quarter economic performance. […]
Read MoreMANILA, Philippines — The country’s foreign exchange buffer thinned to its lowest level in more than seven years at $74.8 billion in October as the Bangko Sentral ng Pilipinas (BSP) continued to smoothen the volatility in the foreign exchange market. The gross international reserves (GIR) level last month was $166 million lower than the $74.94 […]
Read MoreMANILA, Philippines — Investments approved by the Board of Investments (BOI) rose 26 percent in the January to October period from a year ago driven by projects in five key industries. In a statement yesterday, the BOI said it approved P515.9 billion worth of investments in the 10-month period this year, higher than the P408.8 […]
Read MoreMANILA, Philippines — Further easing restrictions on foreign investments after the recent signing of the 11th Foreign Investment Negative List (FINL) would fall largely on Congress through the amendments of laws that cap foreign equity in viable industries, the National Economic and Development Authority (NEDA) said. Socioeconomic Planning Secretary Ernesto Pernia said a lot still […]
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