Remittance growth slows in February
CASH REMITTANCES from overseas Filipino workers (OFWs) increased in February, although at its slowest pace in 13 months, reflecting the impact of the resurgence of coronavirus disease 2019 (COVID-19) infections in many countries.
Banks see smaller returns, more soured loans in Q3
THE COUNTRY’S biggest banks became less profitable in the third quarter as they continued to boost loan loss reserves amid an increase in bad loans and tighter lending standards.
StanChart hikes PHL economic growth outlook for 2022
By Jenina P. Ibañez, Senior Reporter
Standard Chartered Bank raised its economic growth outlook for the Philippines this year in response to the lower...
Philippines raises $559M via Samurai bond deal
MANILA — The Philippines has raised 70.1 billion yen ($559 million) from an offering of four-tranche Samurai bonds, fixed-income news provider IFR reported on Tuesday.
BSP keeps benchmark rates steady
THE Bangko Sentral ng Pilipinas (BSP) kept benchmark interest rates unchanged on Thursday amid a benign inflation outlook and signs of economic recovery.
Philippines poised to be 22nd biggest economy in the world by 2035 — CEBR
THE Philippines is set to become the 22nd biggest economy in the world over the next 15 years despite the disruption caused by the coronavirus pandemic, a report showed.
Central bank eyes ‘national QR code’ for retail payments
THE BANGKO SENTRAL ng Pilipinas (BSP) will require financial firms to use a standard design for quick response (QR) codes to allow simpler transactions across service providers.
Senate chief shoots down move to extend workers’ probation period
THE PROPOSAL to extend employees’ probation period to two years from the current six months has no chance of approval in the Senate, Senate President Vicente C. Sotto III said on Wednesday.
Fiscal balance swings to deficit in June, but 1st half gap shrinks
THE NATIONAL GOVERNMENT’s fiscal balance swung to a deficit in June after two straight months of surplus -- even amid relatively flat state spending and a double-digit hike in tax collections -- with the first half nevertheless yielding a much smaller budget gap than a year ago, the Bureau of the Treasury reported on Monday.
Growth prospects could dim if NCR lockdown is extended
THE PHILIPPINE economy’s recovery prospects could further deteriorate if the strict lockdown in the capital region goes beyond two weeks and extends to other regions, analysts said.
IMF cuts Philippine growth forecast for 2018 amid new challenges
THE INTERNATIONAL Monetary Fund (IMF) lowered its gross domestic product (GDP) growth projection for the Philippines this year, amid downside risks from “rising inflation, continued rapid credit growth, higher US interest rates and US dollar, volatile capital flows, and trade tensions.”
Western Visayas minimum wage set to increase in November
ILOILO CITY -- Minimum wage rates in Western Visayas are expected to increase before the end of the year following the regional board’s approval.