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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

PH, Bank of China seal deal for $200-M 'Panda bond' offering

Nov 17, 2017 - 4:57 PM

The Philippine government will be the issuer while the Bank of China will be the lead underwriter in a 1.2 billion RMB offering aimed at Chinese investors

Philippines overtakes China in economic growth again

Nov 16, 2017 - 12:45 PM

In the 3rd quarter of 2017, the Philippine economy's 6.9% growth performs better than China and neighboring ASEAN countries

Philippine GDP grows faster than expected by 6.9% in Q3 2017

Nov 16, 2017 - 10:16 AM

(3rd UPDATE) The Philippines posts a 'spectacular' 6.9% economic growth in the 3rd quarter despite slower consumption

Remittances drop by 8.3% in September amid Saudi repatriation

Nov 15, 2017 - 9:30 PM

Despite this, total cash remittances for January to September 2017 are still up 3.8% to $20.78 billion

Philippine GDP growth in Q2 2017 raised to 6.7%

Nov 15, 2017 - 8:55 PM

The top 3 contributors to the upward revision are financial intermediation; construction; and real estate, renting, and business activities

Pangilinan still optimistic over oil hunt in West Philippine Sea

Nov 14, 2017 - 6:15 PM

As ASEAN countries and China prepare to craft a Code of Conduct, Filipino tycoon Manuel Pangilinan is hopeful potential oil and gas reserves in the disputed waters can eventually be tapped

HOPEFUL. 'We are quite optimistic that something could happen, but that is entirely beyond our control,' PXP Energy chief Manuel Pangilinan says. Photo by Angie de Silva/Rappler

New Zealand PM Jacinda Ardern oversees 3 new agreements with PH

Nov 14, 2017 - 2:53 PM

The Philippines and New Zealand look to cement a growing relationship with the new agreements that will boost tourism and trade between the two countries

PH wants free trade agreement with U.S.

Nov 13, 2017 - 6:01 PM

At the bilateral meeting between Trump and Duterte, the Philippine side says it's about time a free trade agreement is sealed between the two allies

$60 billion a year needed to address ASEAN infrastructure gap – ADB

Nov 13, 2017 - 3:25 PM

To fill the region's massive infrastructure gap, some businessmen recommend the public-private partnership (PPP) route

INFRA GAP. Citing an ADB study, ADB's Diwakar Gupta saya a 10% increase in energy distribution would mean 7% increase in exports; while a 10% increase in trasnportation leads to 2% increase in exports. Photo by Adrian Portugal/Rappler

Philippines aims to identify 300 new eco zones in January 2018

Nov 12, 2017 - 11:30 PM

These would include mega economic zones, spanning 1,000 to 4,000 hectares

ECO ZONES. Location of some of the Philippines' economic zones, according to PEZA. Image grabbed from PEZA website

HIGHLIGHTS: ASEAN Business and Investment Summit 2017, November 12

Nov 12, 2017 - 7:25 PM

Watch the highlights of the ASEAN Mentorship for Entrepreneurs Network launch

Suu Kyi pushes for more women in top business roles

Nov 12, 2017 - 7:00 PM

(UPDATED) But critics call Myanmar's de facto leader a hypocrite, amid sordid accounts of Rohingya women being raped in Myanmar

WHO RUN THE WORLD? Myanmar State Counsellor Aung San Suu Kyi tells business leaders at the ASEAN Summit that women should be given more decision-making roles. Photo by Angie De Silva/Rappler

Trade tops agenda of ASEAN ministers' meetings

Nov 12, 2017 - 1:18 PM

The 10 member states of Association of Southeast Asian Nations (ASEAN) has set a 3-point agenda on the 1st day of the Manila summit on Sunday, November 12

TRADE TALKS. The trade ministers of the ASEAN member countries at the ASEAN Economic Community council meeting in Manila, November 12, 2017. Framegrab/Pool feed

Which ASEAN economy has the most developed infrastructure?

Nov 12, 2017 - 7:49 AM

Ahead of the ASEAN Summit in Manila, Rappler looks at how economies in the region compare in terms of infrastructure development

Graphics by Raffy de Guzman/Rappler

BSP keeps interest rates unchanged

Nov 09, 2017 - 9:50 PM

The Bangko Sentral ng Pilipinas says there is no need to change monetary settings at the moment as there is enough credit and liquidity in the market

MANAGEABLE. Despite faster rise in consumer prices, Bangko Sentral chief Nestor Espenilla Jr says monetary authorities believe future inflation path would stay within target. Photo by Inoue Jaena/Rappler

Higher fuel, food prices push PH inflation in October to 3-year high

Nov 07, 2017 - 3:26 PM

The Philippine inflation rate of 3.5% in October 2017 is the highest since November 2014, when it registered 3.7%

A costumer buys vegetables at a market in Manila on January 4, 2013. The Philippines' inflation rate fell to a five-year low last year, the government said Friday, helping efforts to hold down interest rates and boost economic growth. Consumer prices expanded by 3.2 percent for the entire 2012, substantially lower than the 4.6 percent recorded in 2011, the National Statistics Office said. AFP PHOTO / JAY DIRECTO / AFP PHOTO / JAY DIRECTO

ASEAN business summit to discuss reduction of non-tariff barriers

Nov 05, 2017 - 10:00 PM

The 3-day summit will press for the tearing down of non-tariff barriers – which include quotas and levies – as a way to push the region's further integration

FURTHER INTEGRATION. Other than the reduction on non-tariff barriers, the ASEAN council will also seek greater connectivity to improve logistics and movement of people in the region. File photo by Tang Chhin Sothy/AFP

BSP lowers risk weighting for loans to boost MSMEs

Nov 03, 2017 - 4:32 PM

‘The policy intends to facilitate the increased flow of funds to MSMEs that will translate to the further growth of the sector and of the domestic economy,' says the Bangko Sentral ng Pilipinas

Trump taps Jerome Powell to lead U.S. Federal Reserve

Nov 03, 2017 - 11:56 AM

President Donald Trump has decided not to reappoint current Fed Chair Janet Yellen, the first woman to oversee monetary policy, despite praising her excellent management of the US economy over the past 4 years

NOMINEE. US President Donald Trump walks with Jerome Powell, his nominee to be Federal Reserve chairman, at the White House in Washington, DC, on November 2, 2017. Photo by Nicholas Kamm/AFP

'Sobering,' PCC says of drop in PH ease of doing business ranking

Nov 02, 2017 - 6:31 PM

The Philippine Competition Commission calls the drop in the country's ranking a ‘sobering account of our performance in attracting new investors and putting up new businesses in the country’

PH slides 14 notches in World Bank's ease of doing business ranking

Nov 01, 2017 - 3:36 PM

The pace of reforms in the Philippines is slower compared to many other countries, including several regional neighbors

PH to receive $366M dev’t loan from ADB, France

Nov 01, 2017 - 3:24 PM

The loan is intended for inclusive growth programs with target disbursement late this year or early next year, says the Department of Finance

Philippines pledges $1 billion to IMF emergency fund

Oct 31, 2017 - 6:15 PM

The emergency fund is used to provide assistance to ailing economies

SHARED RESPONSIBILITY. This is the Philippines' commitment to contribute to the stability of the international monetary system given its sound macroeconomic fundamentals. In the photo are BSP Governor Nestor Espenilla Jr (r) and IMF head Christine Lagarde. Photo from BSP

Philippine peso weakens to new 11-year low

Oct 19, 2017 - 7:10 PM

The Philippine peso closes at P51.530 to $1 on Thursday, October 19, its weakest since August 24, 2006

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