MANILA, Philippines — Wholesale prices of building materials in Metro Manila, which influences the cost of government projects, rose at a slower pace in July, the Philippine Statistics Authority (PSA) reported. Growth in the Construction Materials Wholesale Price Index (CMWPI) in the National Capital Region (NCR) slowed to 8.4 percent in July 2018 from 8.8 […]
Read MoreMANILA, Philippines — Dutch financial giant ING Bank said inflation may breach the six percent level both in August and September. Joey Cuyegkeng, senior economist at ING Bank Manila, said there is an upside risk on the inflation front especially with the latest reports of rice prices continuing to increase due to supply-related constraints. “We […]
Read MoreSINGAPORE — The Philippines is taking steps toward the digitalization of the country’s manufacturing sector and enterprises, joining its neighbors in the region in entering the fourth industrial revolution. Data from consultancy firm AT Kearney show the Philippines is still at the “planning phase” in adopting the so-called Industry 4.0, in which technology gathers and analyzes […]
Read MoreMANILA, Philippines — The Department of Finance (DOF) remains keen on pushing for reforms to increase the excise tax rates on alcoholic beverages under Package 2 Plus of the Comprehensive Tax Reform Program (CTRP). According to documents acquired by reporters, the DOF is proposing for an increase in the tax rates on all types of alcoholic beverages, including distilled […]
Read MoreMANILA, Philippines — Philippine borrowers–both the national government and the private sector — continued to prepay their foreign obligations resulting in the further weakening of the peso against the dollar, data from the Bangko Sentral ng Pilipinas (BSP) showed. Debt prepayments amounted to $1.45 billion in the first six months. The national government accounted for […]
Read MoreMANILA, Philippines — Foreign portfolio investments reverted to a net inflow in July after massive outflows in May and June due to the strong interest of investors in securities listed on the Philippine Stock Exchange (PSE), as well as peso-denominated debt instruments, according to the Bangko Sentral ng Pilipinas. The inflow of net foreign portfolio investments amounted to […]
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