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FILIPINOS should brace for higher commodity prices in the coming months if the depreciation of the Philippine peso continues against the United States dollar, according to local economists. On Thursday, the Philippine peso closed at P59 to the greenback. The last time the peso weakened to this level was on October 17, 2022. The peso […]
MACTAN, Cebu—The country’s balance of payments (BOP) swung to a deficit in October and posted its steepest decline in nine months, according to the latest data from the Bangko Sentral ng Pilipinas (BSP). Based on the latest data, the BOP posted a $724-million deficit in October 2024 from a $1.5-billion BOP surplus recorded in October […]
MACTAN, Cebu—The Bangko Sentral ng Pilipinas (BSP) has no plans to break its easing cycle despite the country’s slower-than-expected growth in the third quarter and the uncertainties surrounding the Trump administration in the United States. However, BSP Governor Eli M. Remolona Jr. told reporters here on Tuesday that the Monetary Board will still leave room […]
TAILWINDS from rate cuts and the impact of the recently passed CREATE to Maximize Opportunities for Reinvigorating the Economy (Create More) law will boost the economy’s growth next year. This was according to Citi Research, which now expects the country’s full-year GDP growth to slow to 5.8 percent this year. Fourth quarter GDP growth is […]
Small businesses and consumers can now hope for greater transparency when loan shopping with the launch of the PESO interest rate swap market (PESO IRS), according to the Bangko Sentral ng Pilipinas (BSP). The Bankers Association of the Philippines (BAP) said the International Swaps and Derivatives Association (ISDA) recognizing BAP’s Philippine Overnight Reference Rate (ORR), […]
If the Philippines wants to attract more foreign direct investments (FDIs), expanding its pool of investors and areas where these firms can invest could make the country an attractive place to do business. On Monday, the Bangko Sentral ng Pilipinas (BSP) disclosed the country’s FDI net inflows contracted 14.5 percent to $813 million in August […]
SUPPLY-SIDE challenges such as material shortages and longer delivery times have led to slower Purchasing Manager’s Index (PMI) in October for the country’s manufacturing sector. In Standard & Poor’s (S&P) Global PMI report, the country’s PMI slowed to 52.9 in October 2024 from the 53.7 posted in September 2024. Despite the slowdown, S&P Global Market […]
Um helicóptero do Corpo de Bombeiros, conhecido como Arcanjo 4, sofreu um trágico acidente na tarde da última sexta-feira (11) em Minas Gerais, enquanto realizava buscas por um monomotor que havia caído no distrito de Ouro Preto. A aeronave, que transportava seis ocupantes – incluindo bombeiros, médicos e enfermeiros – desapareceu logo após decolar. A […]