MANILA, Philippines — The Asian Development Bank on Wednesday downwardly revised its growth outlook on the Philippine economy following the slower than expected gross domestic product expansion in the first half of the year. In an update of its annual economic publication, the Manila-based multilateral lender said it expects the Philippine economy to grow 6.4 percent […]
Read MoreMANILA, Philippines — The national government continued to incur a budget deficit in August as the growth in expenditures once again outpaced the increase in revenues, according to the Bureau of the Treasury. According to the latest cash operations report of the BTr, the government’s fiscal position in August swung to a deficit of P2.6 billion, a […]
Read MoreMANILA, Philippines — The Philippine travel and tourism sector has the potential to further increase its contribution to gross domestic product (GDP) if it fully embraces digital platforms and data innovation, a report by the Pacific Asia Travel Association (PATA) said. In a joint report with Oxford Economics, PATA revealed that the 91 percent of […]
Read MoreMANILA, Philippines — Various non-monetary measures and safety net programs of the government are necessary to control the continued increase in prices as raising interest rates alone would not be enough to curb rising inflationary pressures, according to the Bangko Sentral ng Pilipinas. BSP officer-in-charge Chuchi Fonacier said the central bank is reassessing its inflation forecasts and ready to […]
Read MoreSINGAPORE — Power and digitization should go hand in hand in the Internet of Things (IoT) era to be able to provide efficient and reliable power to people especially in the face of climate change. But the Philippines would need appropriate policies to support and speed up the country’s digital transformation, top officials of French […]
Read MoreMANILA, Philippines — Singapore-based startup Shopback is aiming to increase the number of users and total spend for the cashback reward provided to shoppers this year as it takes advantage of opportunities in the fast growing e-commerce market in the Philippines. Shopback Philippines country manager Prashant Kala said the startup is aiming to see […]
Read More
Thailand
