economy

Bangko Sentral ng Pilipinas

The country’s central bank stated on Thursday they have moved to issue further liquidity into the Philippine financial system amid an environment of declining inflation and lower economic growth in the first quarter of 2019. Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno stated to the press that the amount of cash banks is required to immobilize in their vaults will be reduced by 200 basis points in three stages

rice

The National Food Authority (NFA) perceived a boost in inventory that the largely rice stocks in the country increased by 20.5% to 2.63 million metric tons (MMT) as of April 1 from a year ago, as the Philippine Statistics Authority (PSA) said. The latest inventory is also 18.4% higher month-on-month. High quantity of rice is estimated to be sufficient for around 82 days. Notwithstanding the 14.4% year-on-year drop in household

economy

Malacañang uttered confidence the Philippine economy will still reach the government target of 6 to 7 percent growth by the end of 2019 as seen that the budget impasse has been resolved. Philippine economy cultivated at its slowest pace in 4 years, missing forecasts, pulled by a delay in the enactment of the P3.7-trillion national budget, officials stated Thursday. Salvador Panelo stated President Rodrigo Duterte and the other members of

Carlos Dominguez

A head of President Rodrigo Duterte’s economic team said Wednesday that the S&P Global’s upgrade of the Philippines’ credit rating is a “green light” for more investments in the country. Finance Secretary Carlos Dominguez stated that the upgrade to one notch below the minimum “A” rating will allow the government and Filipino companies to borrow at lower interest. Adding it was a “definitive win” for the government, “The upgrade is

tourist

The influx of Foreign tourist rose 7.6 percent in the first quarter to 2.2 million, much that Tourism Secretary Bernadette Romulo-Puyat perceives the country hitting another record-high number of tourists from abroad for the entire year. During Asian Development Bank’s (ADB) 52nd Annual Meeting, Romulo-Puyat told last Saturday that influxes from January to March exceeded the 2.05 million posted during the same three-month period last year. March sees foreign arrivals

Palace welcomes improvements in PH business, consumer sentiment

Malacañang sees as a positive improvement the latest Business Expectations Survey which showed business out-look in the country rising to 35.2 percentage in the first quarter of 2019.Presidential Spokesperson Salvador Panelo built the statement after the Bangko Sentral ng Pilipinas (BSP) said in its report Thursday that the said figure rose from 27.2 percent for the duration of the last quarter of 2018. In accordance with the BSP, this figure

Slowdown fears drive PSEi plunge

Stock market recoiled on Friday joining a global rout generated by a renewed worry of a global economic slowdown. The Philippine Stock Exchange index (PSEi) benchmark fell 1.07 percent or 84.68 points closed at 7,797.11 while the broader All Shares weakened by 0.59 percent or 28.74 points to finish at 4,817.22. Matthew Cabangon, president of AAA Southeast Equities Inc. remarked that market players were sold on news that Chinese exports

GIR back on track, hits 3-year high in February

Bangko Sentral ng Pilipinas (BSP) claims a $410-million growth in the Philippines’s Gross International Reserves (GIR) as of February this year from the previous month, reported Thursday. This interpreted to a GIR level of $82.9 billion in February this year, up from the $82.5-billion level of dollar reserves in the previous month. It is also $2.5 billion higher than the $80.4-billion level seen in the same month last year. Central

A world-wide Finance Corp. programs wider exposure in Philippines

Fresh from it is anchor investment in Ayala-led AC Energy’s green bonds, the International Finance Corp . (IFC) said it plans to widen it is exposure investments in the country for climate-smart commercial infrastructure and then affordable housing in the near term . In a meeting yesterday, Vivek Pathak, director of IFC’s East Asia and Pacific Department, said they plan to invest more in green infrastructure , particularly in logistics

Philippine Airlines mulls re-IPO solution to increase funds

PAL Holdings , the operator of flag-carrier Philippine Airlines, is looking at the possibility of organizing a re-initial public offering (re-IPO) to raise funds and then comply with the looming higher public float requirement for listed companies. PAL president Jaime Bautista said the organization is preparing to comply with the up coming regulation should it be implemented this year. “We’ll learning that …if we will really be required, because I