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Cebu’s inflation rate rose in Feb compared to January
CEBU CITY, PHILIPPINES – Cebu’s inflation rate rose slightly in February compared to lJanuary as prices have gone up in most parts of the province including the tri-cities of Cebu, Lapu-Lapu, and Mandaue. This was after the Philippine Statistics Authority (PSA) Cebu Province announced the current inflation rate of Cebu including the Highly Urbanized Cities.....»»
BSP keeps policy rate at 6.5%
In the MB’s first policy rate meeting in 2024, the MB held steady at a 6.5% benchmark interest rate as the country’s inflation risks continued to lean on the upside. .....»»
Philippines jobless rate drops to decades-low in December 2023
MANILA, Feb. 7 (Xinhua) -- The unemployment rate in the Philippines decreased to 3.1 percent in December 2023, the lowest since 2005, the Philippine Statistics Authority (PSA) said on Wednesday. "The full-year unemployment rate for 2023 was 4.3 percent compared to 5.4 percent in 2022," PSA head Dennis Mapa said at a press conference. Mapa said about 1.60 million were jobless in December last year. "This w.....»»
Consumers express mixed reactions on slight power rate increase
Consumers of Davao Light and Power Co., Inc. have expressed mixed reactions to a slight increase in the overall power rate starting January 2024. The increase is attributed to higher market prices affecting the generation rate. Noriza Mabanding, a virtual assistant, noted the impact on her energy usage and the need to schedule appliance usage to save energy. Jenalyn Manguiob, a small business owner, expressed dissatisfaction with the increase's effect on her business but acknowledged the global market's influence and the importance of conserving energy. The increase amounts to P0.0774 per kWh, resulting in a minor increase in electricity bills for residential customers......»»
MPTC prefers term extension over toll hike
To recover investments on toll road improvements, Metro Pacific Tollways Corp. is leaning toward getting its concession agreements expanded instead of burdening motorists with rate hikes......»»
Remolona sees 5.9 percent GDP this year
The Philippine economy is likely to grow at a faster pace this year, but it would still be below the government’s goal of six to seven percent as rate hikes continue to constrict demand, Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said......»»
Meralco cuts power rates in April
The Manila Electric Company will slash power rates in April, ending three consecutive months of rate hikes since the first quarter of 2024. .....»»
Nearly 50,000 UK businesses on verge of collapse - report
Construction and real estate are among the hardest hit sectors, researchers say The number of UK businesses on the brink of bankruptcy skyrocketed by more than a quarter at the end of last year amid a "debt storm" triggered by a series of interest rate hikes, a report from a group of insolvency specialists re.....»»
BSP Governor Eyes Potential Rate Cut as Inflation Eases
In a recent interview, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. hinted at a potential rate cut later this year, signaling optimism amid the nation’s economic landscape. While cautious about the first semester, Remolona remains watchful, stating that the move could come “within the year.” The BSP, responding to escalating inflation, had hiked […].....»»
BSP sees room for further rate hike
After discounting the possibility of a rate cut in the first half of the year, the Bangko Sentral ng Pilipinas (BSP) believes there is still room to raise interest rates amid the country’s robust economic growth......»»
Market falls amid worries over rate cuts, China growth
Share prices ended in the red for a third session after another dour day across global markets, fuelled by a sense of resignation that the interest rate cuts long expected in March will not materialize due to stubbornly high inflation......»»
Why the dollar is still strong
Despite the ongoing wars in Ukraine and Gaza, Fitch’s credit rating downgrade of the US, the lowering of the US credit rating outlook to negative by Moody’s and a growing US debt burden, the US dollar has regained its strength......»»
Why the dollar is still strong
Despite the ongoing wars in Ukraine and Gaza, Fitch’s credit rating downgrade of the US, the lowering of the US credit rating outlook to negative by Moody’s and a growing US debt burden, the US dollar has regained its strength......»»
Weak exports still biggest hurdle to Philippines expansion
The Philippine export sector remains the biggest drag to economic expansion as it takes a hit from the slowdown in major trading partners, according to a unit of Fitch Solutions......»»
Tourist arrivals seen to breach pre-COVID-19 levels
The country’s tourism sector is expected to sustain its recovery this year, with international arrivals hitting 8.21 million, effectively closing in to pre-COVID levels, according to a unit of Fitch Solutions......»»
Government hikes borrowings to P2.57 trillion for this year
The Philippines raised its 2024 borrowing program by four percent to P2.57 trillion, which could make fiscal consolidation more challenging for the government......»»
Singapore bank hikes Philippines inflation forecast
DBS Bank Ltd. of Singapore raised its inflation forecast for the Philippines this year to 3.7 percent from 3.3 percent previously, a development which could prompt the Bangko Sentral ng Pilipinas (BSP) to keep rates higher for longer......»»
AEV hikes capex to P153 billion
Aboitiz Equity Ventures Inc. is hiking its capital expenditures by 135 percent to P153 billion this year as it gears up for another phase of growth and innovation......»»
China maintains defence budget growth despite economic travails
Hong Kong, March 12 (ANI): At the 14th National People's Congress, China announced its defence budget for 2024 and interestingly maintained the growth rate of its military expenditure at precisely the same percentage as last year, as Chairman Xi Jinping continues to prioritize the People's Liberation Army (PLA) at the expense of other sectors of government funding. Indeed, according to figures released on the opening day.....»»
Rate cut seen to boost growth
The much anticipated monetary policy easing will bolster the country’s economic expansion, but the growth will still be below targets amid risks stemming from the impact of El Niño, according to Sun Life Investment Management and Trust Corp.......»»