economy
ARTICLE FINDER

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)

PH Competition Commission eyes raising threshold for merger review

Feb 21, 2018 - 3:00 PM

The country's antitrust body is reviewing its existing P1-billion threshold, taking into account that inflation hit a 3-year high last January

THRESHOLD. Under Republic Act (RA) No. 10667 – also known as the Philippine Competition Act – the antitrust regulator should be notified for M&A deals with transaction values above P1 billion. Photo of Chairman Arsenio Balisacan from Philippine Competition Commission

Text of revised Trans-Pacific Partnership released

Feb 21, 2018 - 1:51 PM

New Zealand Trade Minister David Parker says making it public will allow better scrutiny before it is formally signed in Santiago on March 8

TRADING BLOC. In this file photo, trade ministers and delegates from the remaining members of the Trans Pacific Partnership (TPP) attend the TPP Ministerial Meeting ahead of the Asia-Pacific Economic Cooperation (APEC) leaders summit in the central Vietnamese city of Danang on November 9, 2017. Na Son Nguyen / Pool / AFP

#ThewRap: Things you need to know, February 21, 2018

Feb 21, 2018 - 12:44 PM

Hello! Here's a roundup of news you need to know this Wednesday.

President Rodrigo Roa Duterte and newly-appointed Presidential Security Group (PSG) Commander Colonel Lope Dagoy witness the program proper during the Change of Command Ceremony at the PSG Compound in Malacañang Park on March 23, 2017. ROLANDO MAILO/ Presidential Photo

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

South Korea's Moon urges 'stern' response to new U.S. tariffs

Feb 19, 2018 - 4:00 PM

The trade frictions have strained ties at a time when Seoul and Washington are seeking to present a united front against North Korea's nuclear threat

MORE TARRIFS. This file photo taken on January 6, 2016 shows an exhibitor demonstrating an Inverter Direct Drive washing machine at the LG exhibit during the 2016 Consumer Electronics Show in Las Vegas, Nevada. David McNew/AFP

#ThewRap: Videos you need to watch this week, February 12-18, 2018

Feb 18, 2018 - 9:52 AM

Must-watch videos this week

DISINFORMATION. Computer programmer Carlos Nazareno shares how Duterte supporters swarmed the Facebook page of the  International Criminal Court shortly after it announced its probe on the government's war on drugs. Photo by LeAnne Jazul/Rappler

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%

Donors pledge $30B for Iraq reconstruction at Kuwait conference

Feb 15, 2018 - 7:41 AM

76 countries, numerous international funds and global organizations and hundreds of investors have made pledges

PICKING UP THE PIECES. A general view taken on February 14, 2018 shows Iraqis reconstructing a damaged street in the northern Iraqi city of Mosul. Ahmad Muwafaq/AFP

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

Ghana president says 'no reason' to return to IMF

Feb 08, 2018 - 11:51 PM

Ghana President Nana Akufo-Addo tells parliament his government had buckled down on mismanagement and pledged to stabilize the economy to avoid another bailout

NANA AKUFO ADDO. President of the Republic of Ghana Nana Akufo Addo addresses the audience at The Confederation of African Football (CAF) 2017 Awards at The Accra International Conference Centre in Accra on January 4, 2018. Photo by Cristina Aldehuela/AFP

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

[OPINION] Triple whammy: Why are prices rising so fast?

Feb 07, 2018 - 6:05 PM

We haven’t yet seen the full effects of TRAIN’s new taxes. Instead, what we saw in January was likely a combination of profiteering, higher world oil prices, and the peso’s depreciation

EU negotiator warns Britain: time to choose Brexit future

Feb 06, 2018 - 6:58 AM

EU chief negotiator Michel Barnier warns that Britain faces 'unavoidable' trade barriers after Brexit if it also quits the bloc's single market and customs union

LEAD NEGOTIATOR. European Union Chief Negotiator in charge of Brexit negotiations, Michel Barnier gives a press after a General affairs council debate on the article 50 concerning Brexit in Brussels, at the EU headquarters in Brussels on January 29, 2018. John Thys/AFP

New leader to take the helm at U.S. Federal Reserve

Feb 04, 2018 - 10:09 AM

Jerome Powell takes over at a remarkably quiet time following a decade of economic turmoil that forced the central bank into uncharted policy waters to try to recover from the global financial crisis

NEW FED CHAIR. In this file photo, Jerome Powell testifies during his confirmation hearing before the Senate Banking, Housing and Urban Affairs Committee November 28, 2017 on Capitol Hill in Washington, DC. Alex Wong/Getty Images/AFP

El Nido's balancing act: Managing nature and tourism

Jan 31, 2018 - 4:55 PM

The national and local governments are putting in place measures to minimize the negative impact of tourism pressure on El Nido

EL NIDO. A banca inside one of El Nido's treasured lagoons. File photo

[OPINION] Economic conditions don’t favor 3rd telco player

Jan 26, 2018 - 4:07 PM

It would take a grind of 3-4 years to settle the corporate and regulatory issues before the third player could operate in the local market, which is being dominated by the duopoly of the PLDT Group and Globe Telecom

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

Mayon Volcano eruption, 2017 GDP growth, Facebook on democracy | Midday wRap

Jan 23, 2018 - 12:32 PM

Watch the midday newscast with Gelo Gonzales

Snow-bound Davos warms to business-friendly climate

Jan 23, 2018 - 12:19 PM

Undermining rosy data on the world economy are warnings that elite fora such as Davos must start finding solutions for everyone else down the income ladder

SNOWY DAY. A security guard show the way to a man outside of the Davos Congress Centre under snow ahead of the opening of the World Economic Forum (WEF) 2018 annual meeting, on January 22, 2018 in Davos, eastern Switzerland. Fabrice Coffrini/AFP

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.

Global unemployment down but working poverty rampant – UN

Jan 23, 2018 - 9:42 AM

The ILO also raised serious red flags about the health of the planet's labor market

ASSEMBLY LINE. Workers in the auto parts production line of the Bosch factory in San Luis Potosi, Mexico, on January 11, 2017. Pedro Pardo/AFP

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

Hong Kong's Hang Seng Index hits all-time high

Jan 17, 2018 - 4:31 PM

The Hang Seng Index climbs 0.25%, or 78.66 points, to finish at 31,983.41 – overtaking its previous high of October 30, 2007, before the global financial crisis kicked in

RECORD HIGH. Pedestrians walk past a stocks display board after the Hang Seng Index leapt 1.81 percent, or 565.88 points, to close at 31,904.75 in Hong Kong on January 16, 2018. Anthony Wallace/AFP

Pressure rises on British govt over giant firm's collapse

Jan 17, 2018 - 2:52 PM

The British government defends its decision not to bail out imploding construction-to-catering group Carillion, as criticism grows of its handling of the giant firm's demise

OUT OF BUSINESS. A picture shows the branding of British construction company Carillion defaced with the words 'pay the wages' on the hoarding at the collapsed company's construction site at the Royal Liverpool University Hospital in Liverpool, northwest England, on January 16, 2018. Paul Ellis/AFP

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

[OPINION] Without enough transfers, tax reform law will hurt the poor

Jan 10, 2018 - 5:29 PM

'All in all, the first package of TRAIN was an opportunity to correct many problems that have long ailed our tax system. While a step in the right direction, many of TRAIN’s well-meaning provisions got watered down by politicians.'

Fresh unrest in Tunisia after death at price rise demos

Jan 10, 2018 - 9:51 AM

Tunisia has seen several days of protests after activists and politicians denounce hikes in value-added tax and social contributions introduced at the start of the year as a tough new budget is implemented

FACE OFF. Tunisian protesters clash with security forces in the town of Tebourba on January 9, 2018, following the funeral of a man who was killed the previous day in a demonstration over rising costs and government austerity. Fethi Belaid/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

[EDITORIAL] #AnimatED: Sasagasaan ng TRAIN ang mahirap

Jan 08, 2018 - 9:00 AM

Maglalaho ang mga ngiti sa ating mga labi kapag nilimas ng price increases ang nadagdag sa paycheck

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

Most Filipinos prefer socially responsible brands

Jan 04, 2018 - 7:23 AM

Research shows Filipinos are most likely to believe businesses have a responsibility to ensure their supply chain doesn’t harm the environment

Firecracker ban, Tropical Depression Agaton, New Year in New York | Evening wRap

Jan 01, 2018 - 8:06 PM

Watch Rappler’s evening newscast with Mara Cepeda

Iran cuts social media access as unrest turns deadly

Dec 31, 2017 - 8:02 PM

(UPDATED) The interior minister warns protesters will 'pay the price' as footage on social media showed thousands marching across the country overnight in the biggest test for the Islamic republic since mass demonstrations in 2009

PROTESTS. Iranian students protest at the University of Tehran during a demonstration driven by anger over economic problems, in the capital Tehran on December 30, 2017. Stringer/AFP

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

The Philippines' biggest business deals in 2017

Dec 28, 2017 - 3:00 PM

The country's conglomerates have acquired everything from digital payment tech to coal power plants this year, as they acquire the tools they hope will shape the economy’s future

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

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

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

Gov’t urged to shield poor from higher costs due to tax reform law

Dec 19, 2017 - 4:24 PM

The Associated Labor Union-Trade Union Congress of the Philippines says 15.6 million informal workers will be affected by the newly-signed Train law

Clark airport maintenance among PPP projects set for rollout in 2018

Dec 18, 2017 - 7:36 PM

The PPP Center is also eyeing 5 to 8 water projects under some local government units

[OPINION] Economic hardship in the time of Duterte: Here’s the data

Dec 15, 2017 - 6:30 PM

Economic woes, if unabated, could lead to social unrest. Recall that it was not so much Ninoy Aquino’s assassination in 1983 that led to EDSA 1, but the deep, painful recession in 1984 to 1985 that preceded it.

Putin, Trump discuss North Korea in phone call

Dec 15, 2017 - 11:26 AM

The White House says the two 'discussed working together to resolve the very dangerous situation in North Korea'

NORTH KOREA. In this file photo, US President Donald Trump (L) chats with Russia's President Vladimir Putin as they attend the APEC Economic Leaders' Meeting, part of the Asia-Pacific Economic Cooperation (APEC) leaders' summit in the central Vietnamese city of Danang on November 11, 2017. File photo by Mikhail Klimentyev/Sputnik/AFP