Philippine rating downgrade ‘unlikely’
THE PHILIPPINES is unlikely to see any credit rating downgrades this year and in 2023, as the economy is expected to grow faster despite headwinds.
Q2 sustained fast GDP growth — poll
ECONOMISTS expect gross domestic product (GDP) growth last quarter to have been sustained past six percent on the back of higher government spending, as...
DoF: less pressure to put off oil tax hike
THERE MAY BE less pressure for the government to press on with its stated commitment earlier this week to put off an oil excise tax hike set in January amid signs that Dubai crude price -- Asia’s benchmark -- could in this final quarter average less than the $80 per barrel (/bbl) trigger price under the law for automatic suspension, the Department of Finance (DoF) hinted in a bulletin on Wednesday.
Government readies dollar, ‘panda,’ ‘samurai’ bond offers for this year
THE GOVERNMENT is lining up three offshore bond offers this year, the Finance chief said yesterday.
First up will be a sale of dollar-denominated “global...
ADB approves $300-M PHL loan to boost financial inclusion
THE Asian Development Bank (ADB) on Thursday said it approved a $300-million loan to fund the Philippine government’s initiatives to boost vulnerable sectors’ access...
BSP eyes use of QR code for transport payments
THE BANGKO SENTRAL ng Pilipinas (BSP) is proposing to identify strategic use cases for its national QR code standard such as for transportation payments.
In...
Agricultural output slumps in Q3
THE PHILIPPINES’ agricultural output shrank by an annual 2.6% in the third quarter as crops, livestock and fisheries production declined due to bad weather, the statistics authority reported.
MWSS assures Razon firm of action on Wawa dam proposal
THE GOVERNMENT REGULATOR has assured that the Wawa bulk water supply project is up for final approval, Prime Metroline Infrastructure Holdings, Corp. (Prime Infra), the water company led by businessman Enrique K. Razon Jr., said on Friday.
More needed to open up biomass dev’t
THE MOVE by the Department of Energy (DoE) to allow full foreign ownership of biomass power plants has done little to attract more investments in projects involving the renewable energy technology, local developers said.
PHL posts record trade gap in Aug.
THE PHILIPPINES posted its biggest single-month trade deficit on record in August as imports surged while exports slowed for a second straight month.
ADB approves $300-M loan for Philippine LGU support
THE ASIAN DEVELOPMENT BANK has approved a $300-million loan from the Asian Development Bank (ADB) to help local government units (LGUs) improve public services and revenue collections as well as reduce the cost of doing business, the regional lender said in a press release on Thursday.
June FDI bounces back
By Beatrice M. Laforga, Reporter
Foreign direct investments (FDI) rebounded in June on base effects and an improving economic landscape, according to the latest central bank data.
FDI net inflows surged...