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Business

Inflation to taper off by yearend

Socioeconomic Planning Secretary Ernesto Pernia is counting on the country’s inflation rate to normalize towards the end of the year after peaking this quarter. This, after price pressures accelerated to a five-year high of 5.2 percent last month. “We expect…

Grab subsidizes drivers for P70M

An official of the ride-sharing firm Grab Philippines bared Thursday that the company has provided its drivers about PHP70 million in subsidy in the past two weeks amid the limited supply of its transportation network vehicle services (TNVS) units. The…

DoF chief bullish on 7% GDP growth

Finance Sec. Carlos Dominguez III has expressed confidence in the economy expanding by 7 percent or better over the medium term on the back of the government’s “mammoth investment” of up to P9 trillion for the rest of the Duterte…

Peso seen within target range this year

The peso’s depreciation against the dollar is no cause for alarm, as its average rate is expected to remain within target range for the year of up to 52 to 53 to the dollar, according to a ranking National Economic…

DBCC keeps 7%-8% medium-term growth goal

The Development Budget Coordination Committee (DBCC) remains optimistic that the projected seven to eight percent medium-term economic growth for the country is still attainable. The Duterte administration’s economic managers remain positive that the gross domestic product (GDP) will increase despite…

Q2 GDP growth seen at 7%

The Philippine economy is expected to accelerate at least 7 percent in the second quarter of the year spurred on by the surge in infrastructure spending, manufacturing output and tax revenues, analysts at First Metro Investment Corp. (FMIC) and University…

H1 capital raising at record high

Capital raised at the Philippine Stock Exchange (PSE) was at a record high of PHP150.01 billion in the first half of 2018. The amount raised in the first six months was 40.5 percent higher than the PHP106.74 billion recorded in…

Fast economies, weak currencies?

The Department of Finance (DOF) sought to allay domestic and foreign investors' fears that the depreciating peso is dragging the national economy down with it. In its economic bulletin released on Friday, DOF data showed that those countries with weakest…

Infra to add P31T to economy

The government’s massive infrastructure program can contribute as much as PHP31.2 trillion to the economy over the next five years, according to the National Economic and Development Authority (NEDA). NEDA Assistant Secretary for Investment Programming Jonathan Uy told reporters on…

Optimism in economy stays—bank execs

Executives of Asia United Bank (AUB) are still optimistic with the Philippine economy despite the risks and challenges in both domestic and global markets. During its stockholders’ meeting Friday, AUB President Manuel Gomez cited that increasing interest rates and inflation,…

Gov’t urged to tailor-fit aid to firms

The government needs to develop interventions adapted to the specific needs of micro, small and medium enterprises (MSMEs) to encourage them to take risks and innovate, according to a study of the Philippine Institute for Development Studies (PIDS). In a…

EU slaps tariffs on US as trade war erupts

The European Union slapped revenge tariffs on iconic US products including bourbon, jeans and motorcycles on Friday in its opening salvo in a trade war with President Donald Trump. Within hours, Trump responded with a threat to impose a 20…

Gov’t mulls issuance of $1-B ‘Samurai’ bond

Secretary Carlos Dominguez III confirmed here Tuesday that the Philippines is planning to issue about USD1 billion-worth of “Samurai” bonds this year following its two successful floats of dollar- and renminbi-denominated securities in the offshore markets in the first quarter…

PH among best economic performers

Economic and Development Authority (NEDA) Director-General Ernesto Pernia on Tuesday told the Japanese business community and other stakeholders that the Philippines remains one of the best performing economies in the region. “National and international observers have remarked that the Philippine…
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