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PH stocks break 8,200 level, post 3rd straight all-time high

Sep 18, 2017 - 8:35 PM

Local stocks post a new milestone just before the Chinese ghost month ends on Tuesday, September 19

NEW MILESTONE. On Monday, September 18, the Philippine Stock Exchange index (PSEi) close at a record high of 8,294.14, up by 113.29 points or 1.4% from Friday, September 15. Photo courtesy of PSE

PH external debt drops by 1.8% to $72.5 billion in Q2 2017

Sep 17, 2017 - 9:20 PM

The end-June 2017 level is also down by $5.2 billion from the same time last year

August net outflows hit $58M as ghost month begins

Sep 14, 2017 - 8:40 PM

Tensions between the US and North Korea mixed Q2 corporate results and political developments also contribute to investor hesitancy according to the Bangko Sentral ng Pilipinas

Philippine stocks post all-time high amid upbeat U.S. market

Sep 14, 2017 - 5:10 PM

UPDATED Aside from upbeat US data there is one foreign broker who released a buy recommendation on Philippine property shares says an analyst

RECORD HIGH. The PSEi closed at 8,144.91, up by 91.03 points or 1.13% from Wednesday, September 13's close. Photo from PSE

Government infrastructure spending up 25% to P48.4B in July

Sep 11, 2017 - 12:30 AM

July s result means government spending on infrastructure and other capital expenditures stands at P297 5 billion so far this year up 11 1

Consumer confidence declines in PH during Q3 2017

Sep 08, 2017 - 8:53 PM

The Philippines central bank reports the latest overall index remains the 2nd highest since the survey was launched in 2007

Number two at U.S Federal Reserve to step down

Sep 07, 2017 - 7:35 AM

With Federal Reserve Vice Chair Stanley Fischer s departure President Donald Trump will be able to name the top three officials on the board including Fed Chair Janet Yellen whose term expires February 3

The US Federal Reserve building is seen August 1, 2015 in Washington, DC. Karen Bleier/AFP

Inflation rises to 3.1% in August

Sep 05, 2017 - 5:40 PM

The National Economic and Development Authority attributes the increase to higher prices of food transportation water electricity and gas

22 more towns may be added to Cagayan economic zone

Sep 04, 2017 - 6:59 PM

We are anticipating a lot of economic activity says CEO of Cagayan Economic Zone Authority as the reason for the expansion

Second round of NAFTA talks amid Trump threats

Sep 01, 2017 - 9:53 AM

UPDATED There are 25 issues on the agenda for this round each being discussed at a separate roundtable including e commerce the environment anti corruption measures investment and access to property markets

NAFTA. US President Donald Trump speaks following a meeting on infrastructure at Trump Tower, August 15, 2017 in New York City. File photo by Drew Angerer/Getty Images/AFP

Business confidence in PH plunges to 3-year low

Aug 25, 2017 - 11:15 PM

The BSP shows that overall business confidence index for the 3rd quarter of 2017 plunged to 37 9 from 43 in the previous quarter

LESS OPTIMISTIC. Business confidence in the Philippines during this quarter was the lowest percentage recorded since the 3rd quarter of 2014, when confidence index reached 34.4% Rappler file photo

Credit Suisse upgrades Philippine GDP 2017 outlook on Q2 results

Aug 21, 2017 - 6:10 PM

The global financial services giant now expects the Philippines gross domestic product to grow faster at 6 1 instead of 6 this year

STRONGER. The upgrade is a result of a better-than-expected 2nd quarter 2017 results. Rappler file photo

Gov't spending, agriculture lift Philippine GDP in Q2 2017

Aug 17, 2017 - 8:50 PM

Spending on infrastructure is a bright spot for the economy in the 2nd quarter of 2017 but in a role reversal it s now the private sector and not the government that is lagging

Malacañan Photo

Philippine GDP grows faster by 6.5% in Q2 2017

Aug 17, 2017 - 10:10 AM

3rd UPDATE The 6 5 growth in GDP places the Philippines ahead of ASEAN nations that have released their 2nd quarter figures but it is still behind China

Warning from history: Could Japan-style crash hit China?

Aug 16, 2017 - 1:32 PM

China is starting to look like Japan before its economic bubble burst in the early 90s – but China is not a mirror image of Japan 30 years ago

An investor looks at an electronic board showing stock information at a brokerage house in Shanghai on March 16, 2017. Johannes Eisele/AFP

BSP seen to hike interest rates until 2018 – BMI Research

Aug 15, 2017 - 5:30 PM

This is because the global research firm expects Philippine inflation to hit the higher end of the 2017 target

Businessmen's wishlist: 3rd telco player, C6 road, end Marawi crisis

Aug 09, 2017 - 9:05 PM

Several business leaders and the country s economic managers gather to discuss 10 issues they want to prioritize for 2017 and 2018

BETTER PH. Included in the wishlist are entry of a major telecommunications player, completion of Circumferential Road 6, and resolution of the ongoing conflict in Marawi City, Lanao del Sur. Rappler graphics

IMF cuts 2017, 2018 Philippine GDP forecasts

Aug 09, 2017 - 2:25 PM

The multilateral lender cuts its Philippine economic growth forecast to 6 6 for 2017 and 6 8 for 2018 but remains optimistic about the country s economy

REMAINS OPTIMISTIC. Despite a downgrade in forecasts, International Monetary Fund says it is still 'very optimistic about growth in the Philippines.' Rappler file photo

Philippine inflation in July edges up

Aug 04, 2017 - 6:15 PM

BSP Governor Nestor Espenilla Jr says the central bank continues to see a manageable inflation outlook over the policy horizon

WITHIN TARGET. The July 2017 inflation remains below the midpoint of the 2% to 4% target set by the Bangko Sentral ng Pilipinas (BSP). Rappler image

Standard Chartered cuts Philippine GDP forecast

Aug 01, 2017 - 8:05 PM

The bank slashes its forecast to reflect the disappointing GDP expansion in the 1st quarter of the year which was largely due to weak investment growth

STILL FASTEST? The projected GDP growth for the Philippines this 2017 would be faster than Stanchart's 2017 outlook for Vietnam (6.4%), Indonesia (5.2%), Malaysia (4.6%), Thailand (3.5%), Singapore (2%), and Taiwan (1.9%). Rappler file photo

SONA 2017: No promises to speed up infra implementation

Jul 24, 2017 - 10:53 PM

President Rodrigo Duterte cites the victories in his administration s infrastructure initiatives during its first year in office

OFF TOPIC. The Philippine president once again veered away from the supposed focus of his 2nd SONA, which is economic development. Instead, Duterte gave off-the-cuff remarks on his campaign against illegal drugs, irresponsible miners, and the 1901 Balangiga Massacre, among others. Screenshot from Rappler YouTube account

Strong export demand to lift Asian economies – ADB

Jul 20, 2017 - 1:31 PM

Surging global demand for Asian exports and low oil prices will help China and the region s developing economies grow faster than expected this year and next

LOADING CARGO. In this file photo, a worker (C) monitors as containers are lifted onto a trailer at Keppel port terminal in Singapore on January 18, 2016. Roslan Rahman/AFP

OFW cash remittances rebound to hit $2.31B in May

Jul 17, 2017 - 9:00 PM

Total cash remittances are up 4 5 for the first 5 months of the year totaling 11 346 billion

U.S. seeks to renegotiate South Korea free trade deal

Jul 13, 2017 - 12:33 PM

The US free trade agreement with South Korea known as KORUS went into force in March 2012 since when Washington says its trade deficit with the country has more than doubled

This picture taken on September 3, 2016 shows a general view of the Hanjin Incheon Container Terminal in Seoul.  Ed Jones/AFP

FDI net inflows down 61.1% to $874M in April

Jul 10, 2017 - 6:00 PM

The net inflows total 2 4 billion for January to April this year down 32 compared to the 3 6 billion in the same period a year ago

First Metro, UA&P lower Philippine GDP forecast due to slow spending

Jul 05, 2017 - 8:05 PM

Economists express concern over infrastructure projects warning that changing modes of implementation midway would lead to delays and slower growth

FORECAST. First Metro and UA&P have trimmed their Philippine economic growth forecast for 2017

Inflation in June slowest in 5 months

Jul 05, 2017 - 6:25 PM

The National Economic and Development Authority projects a moderate inflation rate for the rest of 2017 thanks to lower fuel prices

LOW. PSA reports significantly slower year-on-year increase in domestic petrol prices in June, particularly unleaded gasoline (5.1% from 9.9%), diesel (5.3% from 13.6%), and kerosene (3% from 9.6%). Rappler file photo

Businesses think SC decision on Mindanao martial law 'necessary'

Jul 04, 2017 - 8:00 PM

UPDATED The largest business group in Mindanao says imposition of martial law in the region is necessary to resolve the terror threat

'NECESSARY.' Although it may cause a temporary setback on tourism, Mindanao Business Council says the Supreme Court decision to uphold Duterte's martial law declaration in Mindanao is 'necessary.' Rappler file photo

World Bank cuts PH growth outlook to 6.8%

Jul 02, 2017 - 10:25 PM

With government consumption and investment growth somewhat weaker the World Bank lowers its forecast for the Philippines in 2017

REVISED DOWNWARDS. The multilateral bank agency's growth outlook for the Philippines is now 6.8% for 2017, one percentage point lower than the 6.9% forecast released in the April edition of the World Bank Philippine Economic Update. Rappler file photo

Government hits P33.4-B budget deficit in May

Jun 23, 2017 - 5:45 PM

The government incurs a deficit of P33 4 billion P15 8 billion higher than the deficit recorded in the same month in 2016

BSP maintains interest rates in Tetangco's final Monetary Board meeting

Jun 22, 2017 - 6:20 PM

While global economic conditions remain challenging outgoing BSP Governor Amando Tetangco Jr says prospects for domestic economic activity continue to be firm

RATES KEPT. BSP Governor Amando Tetangco Jr says the central bank is keeping the overnight borrowing rate at 3%. Screenshot from BSP YouTube page

Peso breaches $1 to 50 mark again

Jun 20, 2017 - 6:54 PM

It is a reaction to external developments particularly the hawkish statements of Fed officials overnight says BSP Governor Amando Tetangco Jr

$544M of hot money flows out of PH in first 5 months of 2017

Jun 18, 2017 - 10:20 PM

A net total of 543 79 million in foreign portfolio investments flows out in contrast to the 178 million in net inflows for the January May period last year

Philippine stocks, peso down on another U.S. Fed hike

Jun 15, 2017 - 8:45 PM

The US Federal Reserve s decision to raise the benchmark interest rate for the 2nd time this year is the primary market mover on Thursday June 15

ANTICIPATED. The US Federal Reserve's decision to raise interest rates for the second time this year is a move widely expected by economists and investors. Rappler file photo

OFW cash remittances at 15-month low in April

Jun 15, 2017 - 6:20 PM

This is the lowest level cash remittances have totaled since registering 1 997 billion in January 2016

PH economy to march on despite political risks – Oxford Business Group

Jun 14, 2017 - 7:35 PM

Navigating the new world order and completing massive infrastructure projects are more crucial to economic momentum according to experts

NEDA expects Philippine economy to grow faster in Q2

Jun 12, 2017 - 6:55 PM

Socioeconomic Planning Secretary Ernesto Pernia says the Marawi siege and the Resorts World Manila attack will not have lasting impact on tourism and the economy as a whole

HIGHER GROWTH. 'I think it will approach 7%. If you look at leading indicators, the second quarter I think will be better (than the first quarter),' Socioeconomic Planning Secretary Ernesto Pernia says. Malacañang file photo  Malacañang file photo

BSP keeping close watch over Middle East developments

Jun 06, 2017 - 5:45 PM

BSP Deputy Governor Nestor Espenilla Jr says it is too soon to draw anything from this but it bears close watch

4TH BIGGEST. There are as many as 260,000 Filipinos living in Qatar as of January 2017, making it the fourth biggest group of foreign workers in Qatar. Rappler file photo

Inflation eases to 4-month low in May

Jun 06, 2017 - 3:15 PM

A 3 1 inflation rate is recorded in May – the lowest since the consumer price index averaged 2 7 last January

LOWER. A customer buys garlic at a market in Manila on August 5, 2014. Philippine inflation eases to 4-month low in May this year. Photo by AFP

PH tourism braces for impact of Resorts World Manila attack

Jun 02, 2017 - 6:13 PM

The Philippine Travel Agencies Association says the incident resort will definitely impact the country s tourism industry Airlines report another round of delayed cancelled flights

CASINO ATTACK. Past midnight, Friday, June 2, an 'emotionally disturbed' man fired gunshots and set ablaze gaming tables at the casino floor of the Resorts World Manila in Pasay City, says the National Capitol Region Police Office (NCRPO). Photo by Ben Nabong/Rappler

Moody's keeps Philippine GDP target despite Marawi crisis

Jun 01, 2017 - 5:50 PM

A senior credit officer at Moody s says the firm expects the economic impact of the Marawi crisis to be minimal and short lived

CONTAINED. Moody's explains the fighting has thus far has been contained to Marawi, located in the Autonomous Region in Muslim Mindanao (ARMM), which itself accounts for only 0.7% of GDP. File photo

Bulk of Duterte's massive infra plan to be funded via local financing

May 31, 2017 - 7:00 PM

Only about P1 3 trillion or 18 will be accounted for through public private partnership projects

HYBRID. The administration of President Rodrigo Duterte is pushing for a hybrid mode, where the government will build the infrastructure projects and later bid out the operation and maintenance to the private sector. Stock photo

Gov't spending on infrastructure falls by P9B in April

May 28, 2017 - 10:15 PM

The Department of Budget and Management says the drop is mainly due to the absence of big ticket expenditures in the military s modernization program which are set for later in the year

Malacañan Photo

BSP sees slightly lower inflation in May

May 27, 2017 - 9:00 AM

The Bangko Sentral ng Pilipinas attributes this to lower oil prices and electricity rates

OFFSET. On the other hand, Tetangco says higher rice prices could partly offset the impact of declining oil prices and cheaper power rates. Rappler file photo

U.S. Fed: New rate hike likely coming 'soon'

May 25, 2017 - 10:35 AM

Most analysts expect two more rate increases this year likely in June and in September but there are now doubts over that schedule

RATE HIKE. Federal Reserve Board Chair Janet Yellen holds a news conference after the central bank announced an increase in the benchmark interest rate following a Federal Open Market Committee meeting on December 14, 2016 in Washington, DC. File photo by Chip Somodevilla/Getty Images/AFP

'Normal working day' for businesses amid martial law in Mindanao

May 24, 2017 - 11:15 PM

But should President Rodrigo Duterte expand military rule beyond Mindanao and seek an extension tourism and trade may suffer

BUSINESS AS USUAL. For now, it is business as usual for most companies in the Philippines. Photo of waving of ISIS flag by Maulana Macadato

Philippine peso, stock market stable despite martial law declaration

May 24, 2017 - 10:15 PM

BSP Governor Amando Tetangco Jr points out however that there may be temporary cautiousness in the next few days

Moody's cuts China's rating on debt fears

May 24, 2017 - 9:20 PM

But Beijing s finance ministry rejects the assessment saying Moody s had used an inappropriate method to assess risks

A general view shows a congested road in Beijing on May 24, 2017. Moody's on May 24 slashed China's credit rating for the first time in almost three decades citing concerns about the country's rising debt and slowing growth, but Beijing rejected the downgrade as "inappropriate". / AFP PHOTO / FRED DUFOUR

Why Duterte's pivot to 'new friends' benefits Russia too

May 23, 2017 - 7:35 PM

What does Russia stand to gain from rolling out the red carpet for Philippine President Rodrigo Duterte and his delegation?

President Rodrigo Roa Duterte inspects the Russian Guards of Honor before singing the Philippine National Anthem upon his arrival at Vnukovo-2 Airport in Moscow for his official visit to the Russian Federation on May 23, 2016. Joining the President is Deputy Foreign Minister Igor Vladimirovich Morgulov. PRESIDENTIAL PHOTO

Gov't infra push fails to spark economy in Q1

May 22, 2017 - 12:30 PM

The Duterte administration s Build Build Build program has yet to break ground and lift the economy leaving the private sector to fill the void