MANILA, Philippines — The Philippines can boost trade with the US amid its escalating trade war with China as it looks for other sources of capital goods, the National Economic and Development Authority (NEDA) said. During the economic briefing for banks and other finance institutions late Tuesday, Socioeconomic Planning Secretary Ernesto Pernia said with the […]
Read MoreMANILA, Philippines — The country can still attain its poverty reduction goals despite the adverse effect of soaring consumer prices on the poor, according to the National Economic and Development Authority (NEDA). Socioeconomic Planning Secretary and NEDA chief Ernesto Pernia said the country has plenty of time to catch up on poverty reduction efforts slowed down by the spike […]
Read MoreMANILA, Philippines — Last month’s BOP surplus was a reversal of the $7 million shortfall recorded in August last year. The Philippines has been booking BOP deficits since the start of the year due to strong foreign currency outflows. The latest figure was the biggest since the country recorded a $2.04 billion BOP surplus in […]
Read MoreMANILA, Philippines — The Philippines is expected to lose billions of pesos in quality investments if the government decides to push through with its plan to slap royalty on all mining operations, the country’s biggest mining group said. Imposing a five percent royalty on all mining companies, regardless whether they operate within mineral reservation areas or not, will push away international […]
Read MoreMANILA, Philippines — The peso slightly recovered yesterday, closing at 54.07 to $1, up four centavos from Monday’s 54.11 to $1. The currency opened slightly weaker at 54.15 compared to the previous day’s level of 54.1 to $1 and reached an intra-day high of 54.06 to $1. Total volume reached $766.45 million, lower than the […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) yesterday expressed confidence that the Philippine economy can overcome “temporary adversities,” such as high inflation and a widening current account deficit. While recognizing that the country is indeed facing some headwinds, Finance Secretary Carlos Dominguez said the local business community should also take a look at the […]
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