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Philippines: Tax reform to improve Phl fiscal stability — Fitch

MANILA, Philippines –  International credit rating agency Fitch Ratings said the passage of the first package of the tax reform program shows the commitment of the Duterte administration to improve the country’s fiscal stability and support its ambitious public investment program. In a report titled “Philippine tax bill supports long-term fiscal priorities,” Fitch said the […]

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Philippines: Inflation eases to 3.1% in May

MANILA, Philippines – Inflation eased to a four-month low of 3.1 percent in May from 3.4 percent in April amid slower price adjustments in both food and non-food commodities, the Philippine Statistics Authority (PSA) reported yesterday. Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said the latest inflation figure was within the central bank’s […]

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Philippines: World Bank sees steady 6.9% Phl GDP growth

MANILA, Philippines – The World Bank expects a steady economic growth for the Philippines until next year, driven by public and private investment.  Based on the World Bank’s June 2017 Global Economic Prospects report, the Philippines is expected to post a steady 6.9 percent growth this year and the next, led by a pickup in […]

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Philippines leads in internet speed increase

MANILA, Philippines –  Akamai, a leading content delivery network services provider for media and software delivery, and cloud security solution, recently came out with its State of the Internet Q1 2017 Report. According to Akamai, the Philippines, together with Thailand and China, led the Asia Pacific cluster in gains with each country enjoying a 20 […]

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Philippines: Phl manufacturing outperforms in Asean

MANILA, Philippines –  The Philippine manufacturing sector outperformed those of other Southeast Asian countries in May as it remains firmly in expansion territory during the month, according to the latest reading of the Nikkei ASEAN Manufacturing Purchasing Managers’ Index (PMI). Domestic manufacturing registered a higher PMI reading of 54.3 in May, up from 53.3 in […]

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Philippines, Indonesia agree to open up banking

MANILA, Philippines – The Philippines and Indonesia are set to ink an agreement this weekend to open up the banking industry aimed at greater financial integration and economic development among members of the Association of Southeast Asian Nations (ASEAN). Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said a letter of intent (LOI) on the […]

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