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Central bank approvals for state foreign borrowings continued their climb in the first quarter, reflecting the government’s scouring of funds to finance an ongoing pandemic fight. From January to March, the Bangko Sentral ng Pilipinas (BSP) greenlighted $2.84 billion in offshore [...]
A convincing recovery is unlikely for the Philippines this year and any rebound would be “fragile” and vulnerable to quarantine swings that have usurped business and consumer confidence coming into 2021. This was the forecast of Manila-based Asian Development Bank [...]
The Philippines and Chile have inked an accord to strengthen the economic cooperation between the countries. Trade Undersecretary Ceferino Rodolfo and Chile’s Vice Minister for Trade Rodrigo Yáñez virtually signed a memorandum of understanding (MOU) for the establishment of a [...]
The Philippines returned to the euro bond market for the first time in more than a year on Wednesday, raising 2.1 billion euros ($2.5 billion). The nation tapped low interest rates in the euro bond market with a three-part note [...]
According to Jonas Leones, undersecretary of the Department of Environment and Natural Resources (DENR), with the lifting of the moratorium on new mining agreements, 100 mining projects, which are now in the pipeline, are expected to generate P21 billion in [...]
Citigroup Inc. plans to exit retail banking in 13 markets across Asia and the Europe, Middle East and Africa region. The bank will instead operate its consumer-banking franchise in both regions from four wealth centres in Singapore, Hong Kong, the [...]
China-backed Dito Telecommunity Corp. is entering Luzon and expanding to other areas in the Visayas and Mindanao where services were launched early last month. From the initial 15 cities and municipalities where the telco piloted, 21 locations will be added [...]
Malacañang announced on Tuesday that President Duterte is prepared to veto any legislative measure that seeks to change the import tariffs on pork products. Presidential spokesman Harry Roque said the Palace respects the call of some lawmakers to revoke Executive [...]
The economic damage from the coronavirus pandemic last year was greater than originally reported, state statisticians said Thursday. Gross domestic product (GDP), the sum of all products and services created in an economy, actually shrank at 9.6% on-year for the [...]
The central bank said on Wednesday that inflation is likely to hit as much as 5% this month even as signs are emerging that tight meat supplies responsible for the price uptick in recent months are abating. The official projection [...]
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