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PH remittances for August rise fastest in 5 months

Oct 16, 2017 - 2:50 PM

Cash remittances – money sent through banks and transfer agents – grow by 7.8% to $2.5 billion in August 2017

BSP still expects 2017 FDIs to be near 2016 level

Oct 12, 2017 - 7:45 PM

The Bangko Sentral ng Pilipinas sees this year's foreign direct investments hitting close to the $8 billion posted last year, noting that push and pull investment factors remain

Philippine stocks close above 8,400 in new milestone

Oct 12, 2017 - 7:05 PM

This is the Philippine Stock Exchange index's 4th milestone in just 31 trading days

PH exports, imports up in August

Oct 10, 2017 - 10:15 PM

China is the Philippines' top trading partner for the 1st semester of 2017, accounting for 15% of the total trade

MAIN COMMODITY. Electronic products remain as the top imported commodities, accounting for 25% of the total import bill. Photo by Romeo Gacad/AFP

Foreign direct investments in PH drop to one-year low in July

Oct 10, 2017 - 6:40 PM

(UPDATED) Despite the drop, the economic team of President Rodrigo Duterte says foreign investors remain confident to do business in the Philippines

Achieving peace in Mindanao key to PH economic growth – World Bank

Oct 05, 2017 - 8:30 PM

The World Bank says long-standing armed conflict in Mindanao makes it challenging to unlock the growth potential of the region, which is a major source of agricultural products

UNLOCKING MINDANAO. World Bank says increasing productivity in Mindanao could reduce prices for food and other goods across the country and improve the competitiveness of the agriculture sector. Rappler graphics by Raffy De Guzman

Rising food prices push PH inflation higher in September

Oct 05, 2017 - 1:45 PM

(UPDATED) Faster price increases are recorded for corn, fish, and vegetables, among others, based on data from the Philippine Statistics Authority

World Bank cuts Philippine GDP forecast again

Oct 04, 2017 - 9:05 PM

The World Bank's new projections are 6.6% for 2017 and 6.7% for 2018, down from the previous forecasts of 6.8% and 6.9%, respectively

Philippine stocks close above 8,300, track Wall Street gains

Oct 03, 2017 - 8:45 PM

'Investors continue to remain bullish about the prospects of the Philippine economy,' says Philippine Stock Exchange president and chief executive officer Ramon Monzon

FOLLOW SUIT. The Philippine Stock Exchange index (PSEi) on Tuesday, October 3 closes at an all-time high of 8,312.93, up by 56.65 points from Monday’s close. Image from PSE

Qatar wants to invest in PH via Islamic bonds

Oct 03, 2017 - 6:45 PM

The Qatar Investment Authority has at least $320 billion worth of excess funds which may be used for energy projects in the Philippines and Southeast Asia

ALEX BANCOLA. Photo of Alex Bancola from http://www.amanahbank.gov.ph/

Japan business confidence hits decade high – Bank of Japan

Oct 02, 2017 - 8:46 AM

The mood among major manufacturers – who plan to boost their capital spending – has now risen for a fourth straight quarter

NUMBERS. Pedestrians are reflected on an electronic stock indicator at the window of a securities company in Tokyo on August 30, 2017.  Toshifumi Kitamura/AFP

Gulf states say goodbye to tax-free reputation

Oct 01, 2017 - 12:03 PM

The 6 states are now taking austerity measures a step further with the plan to introduce value-added tax, ending their decades-old reputation for being tax havens

In this file photo, people shop at the Dubai Mall on June 1, 2016 in the Gulf emirate of Dubai. Marwan Naamani/AFP

Infrastructure remains weak link in Philippines' competitiveness

Sep 28, 2017 - 9:25 PM

The World Economic Forum's Global Competitiveness Index for 2017-2018 underscores that slow infrastructure development is hampering the Philippines' economy

Canada, U.S., Mexico herald 'astonishing' progress in trade talks

Sep 28, 2017 - 7:17 AM

The negotiations wrapped up as a row erupted over Canadian aircraft sales to the United States

NAFTA RENEGOTIATION. (L-R) Mexico's Secretary of Economy Ildefonso Guajardo Villarreal, Canada's Minister of Foreign Affairs Chrystia Freeland, and United States Trade Representative Robert E. Lighthizer gather for a trilateral meeting at Global Affairs on the final day of the third round of the NAFTA renegotiations in Ottawa, Ontario, September 27, 2017. Lars Hagberg/AFP

PH inches up in 2017 WEF Global Competitiveness Index

Sep 27, 2017 - 7:00 AM

However, it falls behind more neighbors, given inadequate public infrastructure and inefficient government bureaucracy

ADB retains PH growth outlook, sees no signs of economy overheating

Sep 26, 2017 - 8:15 PM

The Asian Development Bank retains its forecast of 6.5% GDP growth for 2017 and 6.7% for 2018, while noting that infrastructure investment and receding inflation will fuel the economy

BSP leaves Philippine interest rates unchanged again

Sep 21, 2017 - 9:46 PM

The Bangko Sentral ng Pilipinas believes the prevailing monetary policy settings remain appropriate

STAY VIGILANT. 'While prospects for global economic growth have stayed broadly upbeat, geopolitical tensions and lingering uncertainty over macroeconomic policies in advanced economies continue to pose downside risks to external demand,' BSP Governor Nestor Espenilla Jr says. Photo by Inoue Jaena/Rappler

New milestone as Philippine stocks breach 8,300 mark

Sep 21, 2017 - 6:50 PM

Ignoring the political noise in the country, investors mainly react to the US Federal Reserve's expected rate decision later in the year

ON A ROLL. At the close of Thursday’s trading, the PSEi is at 8,286.86 points, up by 67.54 or 0.8% from Wednesday’s close. All sectoral indices also ended higher with the Holding Firms and Industrial counters up the most, gaining 1.3% and 1%, respectively. Photo from PSE

Landmark EU, Canada trade deal enters into force

Sep 21, 2017 - 12:17 PM

Observers have said the Comprehensive Economic and Trade Agreement (CETA) could set a model for future ties between Britain and the EU after Brexit

This file photo taken on September 20, 2016 shows a man holding a placard depicting a no entry sign with the TTIP and CETA logos, during a demonstration outside the European Union headquarters in Brussels. John Thys/AFP

Senate files version of tax reform bill seen to exempt 3.2 M Filipinos from income tax

Sep 20, 2017 - 11:23 PM

The Senate ways and means committee estimates that its version of the bill will earn the government P148 billion in revenue despite exempting an estimated 64% of workers from paying income tax

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