MANILA, Philippines — Economists following developments in the Philippines have trimmed their growth forecast for this year and next year over concerns on the weak peso and high inflation, according to a survey of think tank Japan Center for Economic Research (JCER). Results of the quarterly consensus survey on Asian economies conducted by JCER in […]
Read MoreMANILA, Philippines — While the Philippines posted a minimal increase in motor vehicle production in the eight months of the year, its growth continues to lag behind six of its Southeast Asian neighbors. Data from the Association of Southeast Asian Nations (ASEAN) Automotive Federation (AAF) showed 54,918 motor vehicles were assembled in the Philippines from […]
Read MoreTHE Philippine central bank said on Tuesday (Oct 4) it was taking steps to manage any disruption in the financial market, and urged participants not to take advantage of a peso currency hovering at record lows against the US dollar. The peso closed at a record 59 to the greenback on Monday, taking its year-to-date […]
Read MoreMANILA, Philippines — The country’s manufacturing activity continued to grow in September, rising to a three-month peak, due to stronger demand. S&P Global Market Intelligence said in a report released yesterday that the Philippines’ manufacturing purchasing managers’ index (PMI) was at 52.9 in September, up from the 51.2 in August. The latest reading is the […]
Read MoreTHE country should concentrate on improving the digital payment platforms InstaPay and PESONet before establishing a central bank digital currency (CBDC), a government official said on Monday. During a Senate budget hearing on Monday, Finance Secretary Benjamin Diokno, a former central bank governor, underscored that establishing a CBDC is not yet the right time. “Iyon […]
Read MoreTHE Philippine peso closed at P59 to a United States dollar on Monday for another record low despite increasing by small increments against greenback in the past three trading days. Data from the Bankers Association of the Philippines said local foreign exchange trading opened at P58.75, weaker than Friday’s P58.6. The local currency traded between […]
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