economy
ARTICLE FINDER

Philippines to borrow more from foreign lenders

Apr 25, 2018 - 8:15 AM

Budget Secretary Benjamin Diokno says the government decided to hike the share of foreign borrowings to 25% of the total financing program for the next 5 years, from the initial 20%

Philippine economy to lose up to P1.96 billion over Boracay closure

Apr 24, 2018 - 4:10 PM

Socioeconomic Planning Secretary Ernesto Pernia says the growth rates of Western Visayas 'will be trimmed'

ECONOMIC IMPACT. Upon the orders of President Rodrigo Duterte, Boracay Island will be closed to tourists for 6 months starting Thursday, April 26. Photo by Angie De Silva/Rappler

Most Filipinos worry about workers' pay, inflation – Pulse Asia

Apr 24, 2018 - 10:22 AM

While urgent concerns are mostly economic in nature, levels of concern about fighting corruption and enforcing the rule of law drop between December 2017 and March 2018

BPI expects to benefit from higher interest rates, tax reform, infra buildup

Apr 19, 2018 - 6:50 PM

In 4 to 5 years, BPI expects to raise the share of SME, retail, and microfinance loans to 35%, and reduce the share of corporate loans to 65%

EXPANSION PLANS. BPI plans to allocate P50 billion to accelerate the growth of small and medium enterprise (SME), boost digitalization efforts, enhance deposit franchise and delivery infrastructure, as well as improve its microfinance business. Photo by LeAnne Jazul/Rappler

Philippine remittances growth slows down in February

Apr 16, 2018 - 4:00 PM

Cash remittances, or remittances formally channeled through banks, register $2.27 billion in February 2018, representing 4.5% year-on-year growth from the same month a year ago

OF REMITTANCES. Cash remittances from land-based workers and sea-based workers increased by 6.4% and 9.8%, respectively, data from BSP showed. Photo by LeAnne Jazul/Rappler

Canada's Trudeau squeezed in pipeline crisis

Apr 15, 2018 - 11:20 AM

Canadian Prime Minister Justin Trudeau is cutting short an overseas tour to return home and mediate

POLITICAL CRISIS. Canadian Prime Minister Justin Trudeau faces a domestic political crisis. File photo by AFP

[OPINION] Enough of policymaking without planning

Apr 13, 2018 - 6:12 PM

As the Boracay example illustrates, policymaking without planning makes for needless chaos, confusion, and destruction

World Bank expects stable 6.7% growth for PH in 2018, 2019

Apr 12, 2018 - 8:00 PM

'Any growth above 6.7% would require vigorous investment in physical and human capital to push the economy beyond its current potential output,' says the World Bank

Philippines in 'golden age' of growth – ADB

Apr 11, 2018 - 1:21 PM

The Asian Development Bank projects the Philippine economy to grow by 6.8% in 2018 and 6.9% in 2019

ADB Asian development outlook 2018

Philippines starts 2018 with foreign direct investments up by over 50%

Apr 10, 2018 - 6:45 PM

Foreign direct investment inflows reach $919 million in January 2018, up from the $587 million in January 2017

Philippine inflation continues to rise at 4.3% in March

Apr 05, 2018 - 12:27 PM

(UPDATED) Higher price increases are noted in rice, corn, fish, fruits, and vegetables, according to data from the Philippine Statistics Authority

INFLATION. The Philippines' inflation rate accelerates to 3.5% in October 2017. File photo by Jay Directo/AFP

SC on drug war documentation, FBI probe on Quiboloy church, Grindr on HIV data | Evening wRap

Apr 03, 2018 - 8:22 PM

Watch the evening newscast with Acor Arceo

PH can become upper middle income country by 2019 – NEDA

Apr 03, 2018 - 4:20 PM

'Our target to become an upper middle income country is in 2022. But we think we will get to that stance much earlier,' says National Economic and Development Authority Undersecretary Rosemarie Edillon

6-month Boracay closure to have minimal impact on economy – NEDA

Apr 03, 2018 - 12:24 PM

A National Economic and Development Authority official says the proposed 6-month shutdown of Boracay will 'only have 0.1% impact' on the country's gross domestic product growth

NO SIGNIFICANT IMPACT. National Economic and Development Authority says the planned temporary closure of Boracay will not have a significant impact on the country's economic growth. Photo from Wikimedia

Philippine economy likely to grow above 7% in Q1 2018 – First Metro, UA&P

Apr 02, 2018 - 2:40 PM

Higher jobs created, foreign direct investments, and manufacturing output, among others, point to a stronger gross domestic product growth for the Philippines

Freelancing taking root in the Philippines – study

Apr 01, 2018 - 6:10 PM

The young and digitally adept Philippine freelance market encompasses around 2% of the population and is expected to grow further, according to a new study by PayPal

Inflation concerns weaken consumer sentiment in Q1 2018

Mar 26, 2018 - 9:00 PM

The Bangko Sentral ng Pilipinas says the overall confidence index dropped to 1.7% in the 1st quarter of 2018 from 9.5% in the 4th quarter of 2017, as consumers fear higher prices and low income

[OPINION] Part 2: Markets vs. Duterte: Are blanket bans a good idea?

Mar 16, 2018 - 8:45 PM

Bans, prohibitions, and crackdowns are some of Duterte’s favorite economic policies. But bans are the ultimate form of market regulation, and government should use them cautiously, not rashly.

PH economy reverts to hot money outflows of $545 million in February

Mar 15, 2018 - 9:35 PM

The Bangko Sentral ng Pilipinas attributes the net outflows to investor concerns over the possibility of a US Federal Reserve rate hike

OFW cash remittances start 2018 strong at $2.37 billion

Mar 15, 2018 - 6:30 PM

Cash remittances or those channeled through banks are up 9.7% from January last year, while personal remittances are also up by 10.8% to $2.65 billion

Record high again for foreign investments in Philippines

Mar 12, 2018 - 3:10 PM

But the growth of foreign direct investments in the Philippines in 2017 was substantially lower than in 2016

PH economic managers hail ranking by U.S. firm, vow more reforms

Mar 06, 2018 - 10:40 PM

'Our efforts to create a more business- and investor-friendly environment are gaining traction,' says Socioeconomic Planning Secretary Ernesto Pernia, after an American firm ranked the Philippines as the best country to invest in

With rising inflation, NEDA calls for measures to help the poor

Mar 06, 2018 - 7:25 PM

Socioeconomic Planning Secretary Ernesto Pernia says the government 'must pay closer attention to the poor,' as inflation hits a new 3-year high

Philippine inflation hits new 3-year high at 4.5% in February

Mar 06, 2018 - 10:17 AM

(3rd UPDATE) Higher prices of food and drinks, among others, drive the cost of living up, with inflation at its fastest rate since August 2014

DOF expects February inflation to exceed projections

Mar 05, 2018 - 7:45 PM

The Department of Finance attributes this to the higher prices of sin products such as cigarettes and alcoholic beverages

SIN PRODUCTS. A visit to Puregold supermarket on January 8, 2018 shows that a pack of Marlboro Black 20s is more expensive at P87.50, from last year's P68. Photo by Chrisee Dela Paz/Rappler

PH Competition Commission doubles threshold for review of mergers

Mar 05, 2018 - 6:00 PM

With inflation going up, the country's antitrust body adjusts the threshold for reviewing merger and acquisition (M&A) transactions to P2 billion, from P1 billion

THRESHOLD REVIEW. Arsenio Balisacan says PCC will continue to conduct regular monitoring of the M&A notifications and will revisit the threshold level periodically to make sure it is responsive to changes in the markets and the economy. Photo by Chrisee Dela Paz/Rappler

EU aims to tax internet giants at '2-6%' – France

Mar 04, 2018 - 8:22 PM

Critics say the tax-avoidance strategies used by the tech titans like Google, Amazon, Facebook and Apple – deprive EU governments of billions of euros while giving them an unfair advantage over smaller rivals

TAXED. The European plans to tax giant technology companies like Google, Facebook, Amazon, and Apple.

Sereno won’t resign, Malacañang on joint exploration, Duterte on UN rapporteurs | Evening wRap

Mar 02, 2018 - 8:03 PM

Watch the evening newscast with Jee Geronimo

World braces for blowback from Xi lifetime power play in China

Feb 28, 2018 - 1:58 PM

Where countries stand on the move largely depends on where they sit

PRESIDENT FOR LIFE? In this file photo, Chinese President Xi Jinping (C) raises his hand to vote for the reports with other China's leaders at the closing of the 19th Communist Party Congress at the Great Hall of the People in Beijing on October 24, 2017. Wang Zhao/AFP

EU's Brexit treaty set to reignite tensions

Feb 28, 2018 - 11:52 AM

EU negotiator Michel Barnier will unveil a long-awaited draft Brexit divorce treaty, which threatens to trigger new arguments with Britain on key issues

CHIEF NEGOTIATOR. In this file photo, 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

UK Labour pressures PM with Brexit customs union call

Feb 27, 2018 - 8:10 AM

Jeremy Corbyn: 'Labour would seek to negotiate a new comprehensive UK-EU customs union to ensure that there are no tariffs with Europe'

CALL FOR CUSTOMS UNION. Opposition Labour party leader Jeremy Corbyn gives a speech on Brexit at Coventry University in Coventry on February 26, 2018. Ben Stanstall/AFP

Decades-old Zamboanga airport transfer study makes progress

Feb 27, 2018 - 7:38 AM

Local officials here have long wanted to move the Zamboanga International Airport due to its proximity to the city center

TOO NEAR. The Zamboanga International Airport's proximity to the city's main district makes local planning a challenge, thus the local government has been lobbying to transport the facility away from the bustling center. Mick Basa / Rappler

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