Indonesia’s ride-hailing app Go-Jek has said it would wait for the issuance of accreditation from the Philippine government before operating in the country. Nila Marita, Go-Jek chief of corporate affairs, said in Jakarta on Monday that the company would abide by the regulations of the Philippines. “We will first focus on securing accreditation in the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas lifted anew the rediscount rates on loans extended to local banks to finance the expansion needs of businesses and households. In a statement, the BSP said it raised the rediscount rates for loans under the peso rediscount facility to 5.0625 percent from 4.5625 percent for loans with […]
Read MoreMANILA, Philippines — The International Monetary Fund (IMF) is urging the Duterte administration to address rising inflation and sustain economic reforms, including ensuring financial stability and opening sectors to competition, to reduce poverty and inequality. In its country report released last Sept. 27, the IMF said the Philippine economy “continues to perform strongly” with a projected 6.5 percent growth this […]
Read MoreMANILA, Philippines — The domestic manufacturing sector grew at a moderate pace in September, signalling “resilient” expansion in the months ahead, according to the latest reading of the Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI). The headline PMI registered a higher reading of 52 in September from 51.9 in August. This took the third quarter […]
Read MoreMANILA, Philippines — The National Economic and Development Authority (NEDA) has assured British businesses that the government is working to ease foreign investment restrictions through the 11th Regular Foreign Investment Negative List (FINL), which is now up for signing by President Duterte. During the recent Philippine economic briefing held by economic managers in London, Socioeconomic […]
Read MoreMANILA, Philippines — Private economists expect the Bangko Sentral ng Pilipinas (BSP) to continue with its tightening episode as the 150-basis-point rate hike is not enough to curb rising inflationary expectations. Benjamin Shatil, regional economist at J.P. Morgan, said the BSP’s Monetary Board is expected to further raise interest rates by another 25 basis points in the […]
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