MAYVELIN U. CARABALLO, TMT

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The Philippine banking system continues to remain sound and stable despite the uncertainties in the global economy, according to the Bangko Sentral ng Pilipinas (BSP). “The Philippine banking system remained resilient amid the subdued global economic environment,” the BSP said in the latest “Report on Economic and Financial Developments.” The…

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The National Economic and Development Authority (NEDA) is urging more development partnership between the Philippines and other middle-income countries (MICs) toward inclusive growth. In a statement, the NEDA said that lessons and best practices from other MICs can help the Philippines improve its poverty reduction and infrastructure programs, to achieve…

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Rural and cooperative banks in the Philippines recorded an 11.57 percent-combined non-performing loans (NPL) at end-2012, the Bangko Sentral ng Pilipinas (BSP) reported on Tuesday. In a statement, the BSP said that rural and cooperative banks had a total loan portfolio of P127.47 billion at end-2012. “Although the ratio is…

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Despite the broad-based expansion in 2012, a power crisis remains a major challenge to regional development in the Philippines, according to the 2012 Report on Regional Economic Developments released by the Bangko Sentral ng Pilipinas (BSP). “Going forward, a major challenge that could hamper regional development, particularly in Mindanao, is…

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The Philippine economy, as measured by gross domestic product (GDP), may grow faster at 6.9 percent in 2013 as investments to infrastructure are scaling up, according to the Standard Chartered Bank. In its latest research report released on Monday, the bank said that it lifted its 2013 growth projection for…

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The Bangko Sentral ng Pilipinas (BSP) on Monday announced that personal remittances from overseas Filipino workers (OFW) continued to show strength, as it rose in April 2013, reaching $2 billion, or a 7-percent year-on-year increment. The April figure brought the cumulative remittances for the first four months of the year…

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Wholesale prices of construction materials in Metro Manila inched up to 1.1 percent in May from 0.6 percent in April, according to the latest Construction Materials Wholesale Price Index (CMWPI) of the National Statistics Office (NSO). The agency said that this resulted from a higher annual uptick in the following…

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The government spends more in maintaining prisons in the country compared to the assistance it provides to a poor family, according to a report from the National Statistical Coordination Board (NSCB). Authored by NSCB Secretary General Jose Ramon Albert, the report said that based on the 2012 General Appropriations Act,…

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Filipino households with savings declined in the second quarter of 2013, according to Bangko Sentral ng Pilipinas survey. The recently released Consumer Expectation Survey (CES) showed that 22.4 percent of household had savings in the second quarter of the year, lower than the 24.5 recorded in the previous quarter. “The…