logo
Read More

Philippines: TRAIN 2 to scare away Korean investors

MANILA, Philippines — Korean businessmen are worried that certain provisions of the government’s second tax reform package would discourage new investments in the country, saying that its implementation could prompt more Korean investors to choose Thailand and Vietnam over the Philippines. In its position paper submitted to Finance Secretary Carlos Dominguez III, a copy of […]

Read More
bus2-dollars_2018-03-15_19-22-29
Read More

Philippines: Hot money reverts to net outflow in February

MANILA, Philippines — Foreign portfolio investments reverted to a net outflow in February as investors cashed in their profits with the impending rate hike by the US Federal Reserve. Data released by the Bangko Sentral ng Pilipinas (BSP) showed foreign portfolio investments, or hot money, booked a net outflow of $545.14 million in February, a […]

Read More
logo
Read More

Payoneer picks Philippines as Southeast Asia hub

MANILA, Philippines — Payoneer, a New York-based cross-border payments company for digital services, platforms and small and medium businesses, has identified the Philippines as its regional hub in Southeast Asia amid the country’s growing economic fundamentals. Payoneer CEO Scott Galit, who is in the country for a visit, expressed confidence in the continued growth of […]

Read More
logo
Read More

Philippines: Jan remittances post double-digit growth

Remittances posted a strong start to 2018 with Filipinos working abroad sending home a total of $2.65 billion in January, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday. The result was up 10.8 percent from a year earlier, central bank data showed, beating the 7.9-percent expansion seen in December when personal remittances hit a […]

Read More
logo
Read More

Philippines: Taming inflation

Just before the Philippine Statistics Authority (PSA) released its adjusted February 2018 inflation rate of 3.9 percent using 2012 as the base year, majority of private sector economic analysts were already warning of inflation rising over the roof of the government’s two to four percent estimate. Inflation watchers would have been proven correct if the […]

Read More