MANILA, Philippines (Update 2, 12:24 p.m.) — Consumers already bearing the brunt of rising prices of widely used goods and services continued to feel the sting of inflation, which hit its highest level in nearly a decade in August and may prompt the central bank to hike policy rates anew. Inflation rose for the eighth consecutive month […]
Read MoreMANILA, Philippines — The Philippines’ manufacturing activity registered a “quicker” pace of growth in August, sharing the second place with Indonesia while factory growth in Southeast Asia regained some momentum in the middle of the third quarter, according to monthly tracking done by IHS Markit for Nikkei, Inc. The Philippines chalked up a “modest increase” of 51.9 Purchasing Managers Index, […]
Read MoreMANILA, Philippines — The country’s manufacturing sector regained its growth pace in August, driven by the surge in new orders which compensated for the softer rise in output, the latest Nikkei Philippines Manufacturing Purchasing Managers’ Index (PMI) showed. The PMI increased to 51.9 in August, up from 50.9 in July, indicating a modest improvement in […]
Read MoreMANILA, Philippines — Southeast Asia’s biggest e-commerce portal Lazada is aiming to double its sales in the Philippines this year with the launch of LazMall which seeks to offer a premium shopping experience. “Our ambition is to grow, to double the business this year at least,” Lazada Philippines chief executive officer Ray Alimurung said. He […]
Read MoreAugust inflation likely rose to 6% MANILA, Philippines — Inflation last month remained elevated and likely touched the six percent mark on the back of rising oil and food prices, higher electricity rates as well as the weak peso, according to economists. Jennifer Kusuma, senior Asia rates strategist at ANZ, said in the latest Asia macro strategy weekly, the […]
Read MoreMANILA, Philippines — Economic managers have proposed to President Duterte the lowering of non-tariff barriers and loosening of restrictions on the importation of several food items in place of lowering tariffs to curb inflationary pressures, the National Economic and Development Authority (NEDA) said. Socioeconomic Planning Secretary and NEDA chief Ernesto Pernia said this was among […]
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