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Foreign investment pledges down 51.8% in 2017

Feb 22, 2018 - 10:55 PM

A significant 82.8% drop is recorded in the 4th quarter of 2017 alone, according to the Philippine Statistics Authority

SAN ANSELMO, CA - AUGUST 29: In this Photo Illustration, One and five dollar bills are displayed on August 29, 2017 in San Anselmo, California. The dollar fell to a two and a half year low to 91.77 Tuesday following the latest missile launch by North Korea. The U.S. dollar index has slipped over 10% since the inauguration of U.S. President Donald Trump. (Photo Illustration by Justin Sullivan/Getty Images)

NEDA seeks to strengthen trade ties with U.S.

Feb 21, 2018 - 9:30 PM

Philippine Socioeconomic Planning Secretary Ernesto Pernia says there is a need to explore more free trade agreements with the United States to foster investment opportunities

7% economic growth 'very achievable' this year – BPI

Feb 20, 2018 - 8:50 PM

The Ayala-led bank also predicts the peso will depreciate 3-4% every year until 2021 as the government's infrastructure buildup progresses

Philippines' hosting of ADB meeting 'more frugal' in 2018 than in 2012

Feb 20, 2018 - 4:05 PM

The Philippine government earmarks less than P90 million for the hosting of the Asian Development Bank annual meeting in 2018, lower than the P200 million it spent in 2012

PH starts 2018 with hot money net inflows of $162M

Feb 16, 2018 - 3:40 PM

The central bank attributes this to investor optimism over the passage of the first phase of the tax reform program, positive corporate earnings, and the expected infrastructure spending this year

BSP cuts banks' reserve requirement

Feb 15, 2018 - 8:10 PM

The reserve requirement ratio for banks is lowered from 20% to 19%, a move seen to free up liquidity for a growing economy

PH remittances beat gov't target, hit record in 2017

Feb 15, 2018 - 6:25 PM

Cash remittances of overseas Filipinos grow by 4.3% to $28.06 billion, while personal remittances grow by 5.3% to $31.29 billion, surpassing the government target of 4%

Philippine peso weakest in over 11 years

Feb 14, 2018 - 4:45 PM

(UPDATED) Pressured by a record trade deficit, the local currency closes at P52.12 against the US dollar on Wednesday, February 14, its weakest since July 2006

DPWH gets help from Hong Kong-based Arup for infra deals

Feb 13, 2018 - 4:43 PM

The consulting contract is the first of 3 consulting packages expected under the $100-million Infrastructure Preparation and Innovation Facility approved by the Asian Development Bank in October 2017

Philippines exceeds foreign direct investments target for 2017

Feb 12, 2018 - 3:55 PM

The Bangko Sentral ng Pilipinas attributes the strong inflows to the country's sound macroeconomic fundamentals

PH foreign trade up 9.9% in 2017

Feb 09, 2018 - 7:03 PM

Total imports and exports exceed government targets for the year, posting 10.2 % and 9.5 % growth rates, respectively, while the trade deficit hit a record $4.02 billion in December 2017

BSP maintains interest rates, raises inflation forecast for 2018, 2019

Feb 08, 2018 - 8:35 PM

The Bangko Sentral ng Pilipinas sees inflation hitting 4.3% in 2018, and 3.5% in 2019

Inflation hits 3-year high of 4% in January

Feb 06, 2018 - 2:50 PM

The government attributes the increase partly to the tax reform law, which took effect in January

Philippine stocks log biggest single-day price drop in over a year

Feb 05, 2018 - 7:45 PM

Wall Street and Asian markets wobble, dragging Philippine stocks on Monday, February 5

BIG DROP. The bellwether Philippine Stock Exchange index (PSEi) on Monday, February 5 ends at 8,616 points, 2.21% or 194.75 points lower than that of Friday, February 2. Rappler file photo

5 key themes of a week in Davos

Jan 27, 2018 - 12:39 PM

Here is a recap of 5 key themes that emerged over a week of meetings at the World Economic Forum in the Swiss Alpine village of Davos, which closed on Friday, January 26

DAVOS. US President Donald Trump delivers a speech during the World Economic Forum (WEF) annual meeting on January 26, 2018 in Davos, eastern Switzerland. Photo by Fabrice Coffrini/AFP

Philippine economy returns crown to China

Jan 23, 2018 - 5:45 PM

The Philippine economy lags behind China and Vietnam in 2017, but remains the fastest-growing economy in the ASEAN-5

Philippine GDP grows by 6.7% in 2017

Jan 23, 2018 - 10:05 AM

(2nd UPDATE) For the 4th quarter of 2017 alone, the Philippine economy grows by 6.6%. Its 2017 growth places it 3rd in Asia behind China and Vietnam.

Philippines revises Q3 2017 GDP growth upwards to 7%

Jan 22, 2018 - 2:30 PM

The top 3 contributors to the upward revision are manufacturing; trade and repair of motor vehicles, motorcycles, personal and household goods; as well as mining and quarrying

PH's EU-GSP+ preferential status 'stays' – Malacañang

Jan 20, 2018 - 11:30 PM

The European Union's annual report notes progress in labor rights, environmental protection, and good governance, but a decline in human rights in the Philippines

RETAINED. The EU retains its Generalized Scheme Preference Plus status for the Philippines. Photo by Rappler

Philippine remittances for November 2017 grow by only 2%

Jan 15, 2018 - 8:25 PM

The slowdown in growth could be traced to base effects, as the Philippines recorded an 'unusually high' growth in remittances in November 2016

Foreign direct investments in PH hit 16-month high in October 2017

Jan 10, 2018 - 6:35 PM

The October 2017 figure of $2.02 billion is the biggest monthly FDI inflow since April 2016

FLOWING. Actual investments channeled into the Philippines last October is the highest in 16 months. File photo from AFP

ING Bank expects another 1% rise in 2018 inflation amid tax reform

Jan 09, 2018 - 7:00 PM

The movement of prices of basic goods and services in the Philippines is seen to move faster this year than last year, due to the newly-implemented tax reform package

PRICES OF GOODS. Philippine inflation remains steady at 3.3% in December last year, similar with that of November 2017. Stock photo

EXPLAINER: How the tax reform law affects Filipino consumers

Jan 09, 2018 - 9:00 AM

Payroll managers start adjusting their systems to reflect the new withholding tax rates. Supermarkets, oil retailers, convenience stores, and even sidewalk vendors begin updating their price lists.

HIKE IN SRPs.The retail price of one-liter bottle of Coca Cola, for instance, is projected to increase to P43 per bottle from the current P31 per liter, in light of the TRAIN law. Photo by Chrisee Dela Paz/Rappler

Steady Philippine inflation of 3.2% in 2017 seen to rise on new tax rates

Jan 05, 2018 - 4:06 PM

The movement of prices of basic goods and services was steady at 3.3% in December, bringing the full-year 2017 rate to 3.2%. But the newly-implemented tax package and higher global oil rates could put pressure on inflation this year.

PRICES OF GOODS. Philippine inflation remains steady at 3.3% in December last year, similar with that of November 2017. Stock photo

Philippines ready to face potential shocks in 2018 – BSP

Jan 04, 2018 - 8:15 PM

The country's central bank says the Philippine economy can withstand any volatility in the global financial markets

Philippine economy to grow fastest in ASEAN-5 in 2018 - First Metro

Jan 04, 2018 - 4:06 PM

The Philippine economic growth is seen to be driven by the revival in manufacturing, consumption spending, stable remittances from overseas Filipinos, and tourism boom

Philippine stocks break 8,700 level to open 2018

Jan 03, 2018 - 4:30 PM

(UPDATED) Investors remain upbeat even as the 20% hike in stock transaction tax takes effect at the local bourse

Philippine stocks hit fresh all-time high on 2017's last trading day

Dec 29, 2017 - 7:44 PM

This is the 14th time the main index closed at an all-time high this 2017. For the year alone, the Philippine Stock Exchange index gained 25.1%.

ALL-TIME HIGH. The executives of Philippine Stock Exchange on Friday, December 29 celebrate last trading day of 2017. Photo from PSE Corporate Communications

Philippines sees manageable inflation until 2020

Dec 28, 2017 - 5:52 PM

The Development Budget Coordination Committee still projects consumer price index to be between 2% to 4% until 2020

Philippine peso strongest in 6 months, stocks break 8500 level

Dec 28, 2017 - 5:11 PM

Philippine peso and stocks finish on a strong note two days before trading takes a 4-day New Year break

DOCUMENT: Tax reform package in Republic Act 10963

Dec 27, 2017 - 11:24 PM

The Tax Reform for Acceleration and Inclusion (Train) Law will take effect on January 1, 2018

Bad loans rise at Philippines' big banks in October

Dec 27, 2017 - 6:30 PM

The Philippines' central bank says rate of bad loans remains manageable across economic sectors, like financial and insurance activities

India to become 5th largest economy in 2018 – report

Dec 26, 2017 - 9:22 PM

The Center for Economics and Business Research predicts that India will move up to the 5th place in 2018 and 3rd by 2032

GROWING. The Center for Economics and Business Research predicts that India will become the 5th largest economy in the world by 2018. Photo by Raveendra/AFP

Lopez optimistic PH will keep EU-GSP+ preferential status

Dec 26, 2017 - 8:20 PM

The European Union will assess whether or not to continue giving the Philippines privileges under the GSP+ program which allows a country's products to be exported to the EU duty-free

Gov't deficit narrows in November on 16% higher collections

Dec 26, 2017 - 7:45 PM

This offset the 10% increase in government spending for the month, but the year-to-date deficit is still wider by 4% compared to the same period in 2016

Duterte vetoes parts of tax reform law

Dec 22, 2017 - 7:12 PM

The vetoes will help the first package of tax reforms expected to reach the target P90 billion in revenue in 2018, according to the Department of Finance

President Rodrigo Roa Duterte shares a light moment with Finance Secretary Carlos Dominguez III during the cabinet cluster meeting in Malacañan Palace on November 6, 2017. ACE MORANDANTE/PRESIDENTIAL PHOTO

Japanese credit watcher maintains Philippines' investment grade rating

Dec 19, 2017 - 7:00 PM

Tokyo-based R&I is optimistic that the Duterte administration's infrastructure plan will sustain the country's solid economic growth

NEDA eyes 6 big infra project rollouts, 8% GDP growth in 2018

Dec 14, 2017 - 6:10 PM

These projects include the Metro Manila Subway and Phase 1 of the Mindanao Railway which would encompass the Tagum-Davao-Digos Segment

ECONOMIC PLANNING. NEDA officials led by Socioeconomic planning secretary Ernesto Pernia (5th from right) discuss upcoming infrastructure and other economic issues at NEDA's 2017 year-end briefing held in Pasig on December 14. Photo by Chris Schnabel/Rappler

ADB upgrades Philippine GDP growth forecast for 2017, 2018

Dec 13, 2017 - 4:30 PM

The outlook of the Asian Development Bank 'assumes that growth in the government's infrastructure program will accelerate'

PH underemployment rate drops to lowest in 10 years

Dec 12, 2017 - 6:05 PM

Underemployment refers to workers wanting to spend more hours at work to earn more

LABOR DAY. Thousands of job seekers troop the Quezon City Hall on Labor Day, May 1, to seek for job opportunities at the DOLE's Job Fair. Photo by Darren Langit/Rappler

Foreign direct investments up 61.8% in September 2017

Dec 12, 2017 - 11:35 AM

Bangko Sentral ng Pilipinas data show that FDI hit net inflows of $754 million in September this year, from $466 million recorded in the same month in 2016

Fitch upgrades Philippines' credit rating

Dec 11, 2017 - 12:26 PM

(UPDATED) The upgrade from BBB- to BBB is due to strong economic growth and the tax reform initiative

BSP releases Philippine peso bills with 'enhanced design'

Dec 05, 2017 - 8:15 PM

The Bangko Sentral ng Pilipinas says the new banknotes are 'aimed at highlighting significant moments in the nation's history, as well as its world heritage sites and iconic natural wonders'

Inflation slows to 3.3% in November amid lower food prices

Dec 05, 2017 - 4:25 PM

A slowdown is seen in November after 4 straight months of rising prices

BOC posts record high P46.47-B collection in November

Dec 02, 2017 - 1:35 PM

The Bureau of Customs posts its highest collection ever after it surpasses revenue targets in Batangas, Tacloban, Cagayan de Oro, Clark, and Davao

NEW CUSTOMS CHIEF. Customs Commissioner Isidro Lapena addresses the Bureau of Customs during turnover ceremonies at the BOC headquarters on August 30, 2017. Photo by Inoue Jaena/Rappler

BSP releases new P5 coin to honor Andres Bonifacio

Nov 29, 2017 - 5:05 PM

The central bank will circulate the new coin on December 1 to commemorate the 154th birth anniversary of the father of the Philippine Revolution, while other newly designed coins will be circulated in January 2018

DA: Q3 growth in palay production 'most notable' for agri sector

Nov 22, 2017 - 4:05 PM

Agriculture Secretary Emmanuel Piñol hopes the 'bountiful harvest' of rice they are expecting for the 4th quarter will boost the agriculture sector's performance by the end of the year

SUPPLY CHECK. Keeping the rice supply in check is crucial because it tames the grain’s retail price in the market. File photo by Jay Directo/AFP

BSP remains vigilant over potential economic overheating

Nov 21, 2017 - 7:15 PM

'We do not believe that we are there yet and we remain very vigilant to avoid it,' Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr says on the possibility that the economy might overheat

Janet Yellen to depart U.S. Federal Reserve in February

Nov 21, 2017 - 7:00 AM

In her resignation letter to Donald Trump, Yellen said she is pleased by the US economy's continuing recovery from the Great Recession of 2008-2009

STEPPING DOWN. In this file photo, Federal Reserve Board Chair Janet Yellen holds a news conference December 14, 2016 in Washington, DC.  Chip Somodevilla/Getty Images/AFP

Philippines' foreign aid disbursements decline in 2016

Nov 20, 2017 - 8:30 AM

The Department of Transportation, Department of Social Welfare and Development, Land Bank of the Philippines, and National Irrigation Administration are the top 4 agencies that failed to meet disbursement targets for 2016

UNMET TARGETS. The decline in disbursements reflects the planning and implementation capacities of project management offices. Photo by LeAnne Jazul/Rappler