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High rates dampen credit growth in 2023
he expansion of credit in the country slowed last year as the still elevated cost of borrowing dampened demand, the Bangko Sentral ng Pilipinas said......»»
Government tackling high construction costs
The Government is focused on reducing sky-high construction costs to make it more affordable to build a home, Building and Construction Minister Chris Penk says. Stats NZ data shows the cost of building a house has increased by 41 per cent since 2019, making housing even more unaffordable for Kiwi families."Further analysis shows building costs are consistently higher.....»»
Baltimore bridge collapse could lead to delayed shipments, higher shipping costs
The closure of the Port of Baltimore in the US following the collapse of the Baltimore key bridge is expected to lead to shipment delays and higher shipping costs......»»
Indian banking sector continues to improve with better asset quality, high credit growth: Survey
New Delhi [India], March 21 (ANI): The health of the Indian banking sector continues to improve with better asset quality and high credit growth, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) showed. The eighteenth round of the survey was carried out for the period July to December 2023. Those banks that were surveyed together represent about 77 per cent of the banking i.....»»
UBS sees 2-digit credit growth for Philippines banks
Banks operating in the Philippines are expected to post a double-digit credit growth this year on the back of robust economic expansion, according to banking giant UBS......»»
BPI sees stronger credit growth
Bank of the Philippine Islands expects a robust growth in credit this year amid the country’s economic expansion and the planned interest rate cuts by the Bangko Sentral ng Pilipinas......»»
Should You Bite on Digital Credit Line Offerings?
Digital credit lines have become a prevalent offering for digital platforms like digital banks and online shopping apps. These readily available lines of credit, often so accessible, can be tempting, especially for unexpected expenses. But before you hit “apply,” it’s crucial to weigh the pros and cons to determine if a digital credit line aligns […].....»»
Moira Dela Torre highlights value of giving credit following viral copyright issue
Moira Dela Torre weighed in on the viral copyright issue and said that it is important to give credit where credit is due. .....»»
CCAP: Current credit card rate cap sufficient
The Credit Card Association of the Philippines said it fully supports the assessment process of the Bangko Sentral ng Pilipinas in adjusting or keeping the cap on credit card charges, adding that the current ceiling is sufficient......»»
Worker shortage, rising costs to slow healthcare growth
The expansion of the country’s healthcare industry may slow this year on rising costs and shortage of medical practitioners even as the demand for health services among Filipinos is on an uptrend......»»
BSP to be more cautious on lowering rates – S& P
The Bangko Sentral ng Pilipinas, along with other emerging market central banks, would be more cautious about cutting borrowing costs this year amid external risks, according to S&P Global Ratings......»»
Approved construction permits down by 5.5 percent in February
Approved building permits declined 5.5 percent in February from a year ago as fewer residential projects were started amid high borrowing costs......»»
March inflation may pick up amid high food prices
Inflation likely accelerated for the second straight month in March, mainly driven by high rice prices, prompting the Bangko Sentral ng Pilipinas (BSP) to keep borrowing costs unchanged at its next policy review in April, analysts said......»»
Philippines to take cue from Fed policy
Ahead of the policy meeting next week, the Bangko Sentral ng Pilipinas is likely to follow the steps of the US Federal Reserve as to when high borrowing costs can finally take a breather......»»
Fitch keeps credit rating of 5 Philippine banks
Fitch Ratings has affirmed the credit rating of five of the country’s biggest banks and kept its stable outlook, on the back of a likely robust economic growth over the next two years......»»
Japan credit rater bullish on Philippine growth this year
The Philippine economy is likely to grow by six percent this year, mainly driven by robust private consumption amid easing prices and stable remittances, Japan Credit Rating Agency Ltd. said......»»
Higher shipping costs loom as Red Sea route suspended
The suspension of Red Sea routes by major shipping lines because of the continued attacks of Iran-backed Houthi rebels in Yemen is expected to result in higher shipping rates and delay the trade of goods which may affect exporters from ecozones, the Philippine Economic Zone Authority said yesterday......»»
Factory output growth slows sharply in 2023
The country’s manufacturing output expanded at a slower pace in 2023 as food, beverages and 12 other industry divisions registered declines, according to the Philippine Statistics Authority......»»
Philippines GDP growth slows to 5.6 pct in 2023
© Provided by Xinhua MANILA, Feb. 1 (Xinhua) -- The Philippine economy grew by 5.6 percent in 2023 after expanding by 5.6 percent in the fourth quarter, below the 6 to 7 percent target range for 2023 set by the government, the Philippine Statistics Authority.....»»
Philippines GDP growth slows to 5.6 pct in 2023
© Provided by Xinhua MANILA, Feb. 1 (Xinhua) -- The Philippine economy grew by 5.6 percent in 2023 after expanding by 5.6 percent in the fourth quarter, below the 6 to 7 percent target range for 2023 set by the government, the Philippine Statistics Authority.....»»