MANILA, Philippines — Local banks continued to tighten their credit standards for real estate loans to corporations in the fourth quarter of 2017, results of a Bangko Sentral ng Pilipinas (BSP) survey showed. Based on the central bank’s Senior Bank Loan Officers’ Survey (SLOS) for December 2017, banks saw a net tightening of their overall […]
Read MoreMANILA, Philippines — The passage of a bill which seeks to remove the quantitative restrictions (QR) on rice imports could lower inflation by one percentage point and offset the inflationary impact of the tax reform law, an official of the Bangko Sentral ng Pilipinas (BSP) said. In a press briefing, BSP Deputy Governor Diwa Guinigundo […]
Read MoreMANILA, Philippines — The status of the country’s Generalized Scheme of Preferences Plus (GSP+) with the European Union (EU) continues to hang in the balance as the trade bloc hit anew human rights conditions in the Philippines, but lauded the government’s fight against corruption and efforts in promoting labor rights. The second biennial GSP report […]
Read MoreMANILA, Philippines — Philippine economic growth in the third quarter of 2017 was revised upwards from 6.9 percent to seven percent, the Philippine Statistics Authority (PSA) said. Contributing to the upward revision were gains in manufacturing, trade and repair of motor vehicles, motorcycles, personal and household goods, and mining and quarrying. PSA said it revised […]
Read MoreMANILA, Philippines — The Philippine economy likely grew 6.7 percent during the last three months of 2017 on account of strong domestic demand, Moody’s Analytics said. “The Philippines’ economy has been a standout in recent years, underpinned by strong domestic demand and favorable demographics,” Moody’s said in its January 18 market outlook. “Domestic demand likely […]
Read MoreMANILA, Philippines — The government is expected to generate about P183.2 billion in revenue from the excise taxes on cigarettes and alcoholic beverages this year, data from the Department of Finance (DOF) showed. According to data from the DOF, P126.97 billion of the Bureau of Internal Revenue’s collection this year is projected to come from […]
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