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BANGKO SENTRAL ng Pilipinas (BSP) Governor Nestor A. Espenilla, Jr. got the third-highest rating for his first year as central bank chief, with the Global Finance magazine touting sustained economic growth while noting the weaker peso and a wider trade gap as setbacks.
SOARING world crude prices will further bloat the country’s trade deficit, which in turn could keep the peso under pressure over the coming year, a global bank said.
A REGIONAL research group has slashed its growth forecast for the Philippines, noting that surging inflation and consumer pessimism will likely weigh on household spending and dampen overall expansion.
THE government will pursue competitive bidding for the national ID system, with the pilot registration pushed back to next year.
BIG BANKS again failed to comply with required lending to the farming sector in June, which came at a time of robust asset growth, latest central bank data showed.
FURTHER RELAXATION of foreign exchange rules can be expected to be more gradual for now as monetary authorities focus more on tempering sharp swings in daily peso-dollar trades, according to a senior official of the Bangko Sentral ng Pilipinas (BSP).
INFLATION will likely hover above seven percent in the remaining months of 2018, ANZ Research said, adding to mounting doubts about government expectations that overall price spikes could have peaked last quarter.
THE WORLD BANK has released a $496.25-million aid package for the Philippines to help fund reconstruction and recovery in areas hit by typhoon Ompong (international name: Mangkhut).
TRANSFER pricing schemes employed by companies have resulted in annual revenue losses of at least P43 billion in 2015, the Department of Finance (DoF) said.
INFLATION likely clocked in faster in September as a strong typhoon that month pushed food prices even higher, according to a BusinessWorld poll in which analysts cited the need for more interest rate hikes from the central bank to rein in overall price pressures.
BAD debt held by big banks grew further in July but remained subdued relative to the over 18% pace of loan growth, the central bank said.
ANZ Research once more scaled down its growth forecast for the Philippines, citing the volatile global environment coupled with rapid domestic inflation.
THE BANGKO SENTRAL ng Pilipinas (BSP) will likely raise interest rates by another 50 basis points (bp) this week, according to most analysts in a BusinessWorld poll, citing inflation fueled by damage from the storm that ravaged Northern Luzon the other week and unrelenting oil price hikes.
THE National Economic Development Authority (NEDA) backed the declaration of a state of calamity in regions affected by typhoon Ompong, as it would allow authorities to impose price ceilings on basic goods to help soften inflation in hard-hit areas.
THE CENTRAL BANK is eyeing to set up an online marketplace for the personal equity and retirement account (PERA), in a bid to attract more investments for the two-year-old savings scheme.
CLARK, PAMPANGA -- Growth should have bounced this quarter from the preceding three months’ slowdown on the back of a “phenomenal” infrastructure drive, a global bank analyst said, although full-year expansion will likely settle below seven percent.
BANKS SWARMED the week-long deposits offered by the Bangko Sentral ng Pilipinas (BSP) yesterday and shied away from longer tenors under the facility ahead of an expected rate hike next week.
THE PHILIPPINE ECONOMY is ready to face headwinds from rising inflation and further depreciation of the peso which have intensified in recent months, economic managers said on Tuesday, saying the government has all the tools it needs to handle these “temporary” challenges.
PHILIPPINE companies and their peers in the Association of Southeast Asian Nations (ASEAN) are largely expected to weather rising interest rates, S&P Global Ratings said in a Sept. 17 report that cited bigger debts incurred by firms in the region.
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