MAYVELIN U. CARABALLO, TMT

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Monetary policy in the Philippines remains appropriate, the country’s central bank chief said on Friday amid market developments and continued observations that a tightening was overdue. “In my view, the sum of BSP actions remain appropriate for the situation,” Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. told reporters when…

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The country’s Socioeconomic Planning chief sought to allay overheating concerns on Friday, declaring that officials remained watchful of risks that could affect the Philippines’ strong growth. “As we tread a high growth trajectory, risks are typically present on both domestic and external fronts. Nevertheless, we remain vigilant in monitoring these developments.…

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Banks on the whole maintained lending standards for businesses but tightened these for households during the first quarter, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. “The unchanged credit standards for business loans was largely attributed to respondent banks’ steady outlook for the economy as a whole and for…

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The Philippines posted a narrower balance of payments (BoP) deficit in March but the shortfall was still the highest in four months, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. March’s deficit of $266 million was smaller than the $429 million and $550 million recorded in February and a year earlier, respectively. “Outflows in March 2018 stemmed…

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Gross revenue growth in the Philippine industrial sector slowed in the fourth quarter of 2017, decreasing to 8.9 percent from 9.4 percent a year earlier, the Philippine Statistics Authority (PSA) said on Friday. In a statement, PSA said that among industries, real estate posted the fastest growth with 11 percent,…

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Foreign portfolio investments turned positive in March, recording the biggest net inflow in three years based on Bangko Sentral ng Pilipinas (BSP) data released on Thursday. The $1.132 billion net “hot money” inflow — a reversal from February’s net outflow of $545.14 million — came as investments in peso debt instruments and Philippine…

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The government is planning to build a host of bridges to link the Visayan Islands to Luzon to encourage economic activity and create jobs, the Finance department said on Thursday. The initiative is expected to cost a combined P269.19 billion, the department said in a statement. Investment Coordination Committee (ICC)…

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BANK of the Philippine Islands (BPI) expects continued earnings growth this year and is earmarking P50 billion on four strategic opportunities. “It is still a continued growth momentum that we are seeing in 2018,” BPI Chief Finance Officer and head of Strategy and Development Maria Theresa Javier told reporters during…

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Inflation in the Philippines could hit 5.0-6.0 percent in the second quarter of the year and monetary authorities will likely move to address rising prices by hiking key interest rates next month, Singapore-based bank DBS said. “Having risen above the official 2-4 percent target to 4.3 percent year-on-year in March,…

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Promises of a significant economic boost from the Duterte administration’s pivot to China and Beijing’s ambitious Belt and Road Initiative (BRI) remain just that, given current realities, Japan’s Nomura indicated. In a report titled “Belt and Road: Globalization, China style” released on Tuesday, Nomura tagged the Philippines, along with Pakistan,…

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