Tighter-than-necessary rate environment on BSP’s radar
The Bangko Sentral ng Pilipinas (BSP) is beginning to see a tighter-than-necessary monetary policy environment, which may call the need to lower interest rates in the second half even if it cuts ahead of the US Federal Reserve......»»
SEC orders Infinity8 to halt operations
The Securities and Exchange Commission has flagged another entity for soliciting investments from the public without the necessary permits.In a Jan. 16 order, the SEC en banc directed Infinity8Networks Digital Services OPC to immediately cease and desist from further engaging in the unlawful solicitation, offer, and/or sale of securities in the form of investment contracts without the necessary license from the SEC......»»
VM Quitain: City Council will revisit firecracker ban if necessary
DAVAO CITY (MindaNews – 11 January) – Davao City vice-mayor J Melchor Quitain Jr. said the City ordinance 060-02 also known as firecracker ban ordinance is “as good as it is now” but they would “revisit” it if necessary. Quitain said this amid allegations that organizers of the recent “Paghinugyaw: Sugat sa Bag-ong Tuig,” Davao City’s […].....»»
BSP on guard vs inflation risks amid El Niño
The BSP chief said headline inflation likely further accelerated to 3.9 percent in March from 3.4 percent in February due to base effects, but lower than the 7.6 percent in March 2023......»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
Xinhua world economic news summary at 0900 GMT, Jan. 19
MANILA -- The Philippines' overall balance of payments (BOP) posted a surplus of 642 million U.S. dollars in December 2023, higher than the 612 million dollars recorded in the same month 2022, the country's central bank said Friday. The Bangko Sentral ng Pilipinas (BSP) said the BOP surplus in December 2023 reflected inflows arising mainly from the national government's net foreign currency deposits with the BSP.....»»
BSP to review 3 percent rate cap on credit card transactions
The Bangko Sentral ng Pilipinas will review this month whether to keep or hike the three percent interest rate cap on credit card transactions......»»
Gradual BSP rate cuts likely by Q3
The Bangko Sentral ng Pilipinas is expected to make gradual interest rate cuts starting in the third quarter of the year, according to global banking giant Citi......»»
US Strikes Another Houthi Site in Yemen
The U.S. military carried out an additional strike early Saturday against Houthi positions in Yemen in an effort to protect shipping in the Red Sea, according to U.S. media reports.News organizations citing anonymous sources said the latest strike targeted a radar site that officials said presented a continuing threat to maritime traffic.The strike came a little more than a day after the U.S. and British.....»»
US Strikes Another Houthi Site in Yemen
The U.S. military carried out an additional strike early Saturday against Houthi positions in Yemen in an effort to protect shipping in the Red Sea, according to U.S. media reports.News organizations citing anonymous sources said the latest strike targeted a radar site that officials said presented a continuing threat to maritime traffic.The strike came a little more than a day after the U.S. and British.....»»
BSP to keep policy stance sufficiently tight
Despite the slowdown in the rise in consumer prices in the past four months, monetary authorities deem it necessary to keep monetary policy settings sufficiently tight until there is sustained decline in inflation......»»
BSP unlikely to cut rates in 1st half
The Bangko Sentral ng Pilipinas is unlikely to cut key policy rates within the first half of the year as it deems it necessary to keep monetary policy settings sufficiently tight in the near term to better anchor inflation expectations and mitigate second-round effects......»»
Overseas businessmen show confidence in Hong Kong s business environment
HONG KONG, April 30 (Xinhua) -- A number of trade exhibitions were held in Hong Kong in April, attracting visitors worldwide who expressed their confidence in the business environment of Hong Kong. "Hong Kong is a very nice place. We are always happy to come," Belgian businesswoman Isolde Hanson said, adding that this was her first visit to Hong Kong after the pandemic. She had been to Hong Kong more than ten ti.....»»
Employment Increased to 96% in the April 2024 Labor Force Survey, PSA
The country’s employment rate increased to 96% in April this year according to the Philippines Statistics Authority’s (PSA) latest report on June 6, 2024. This is higher compared to both April 2023 and January 2024 with a rate of 95.5%. In April of this year, the labor force participation rate (LFPR) was 64.1%, which is […].....»»
Philippine inflation rate slightly rises to 3.9 pct in May
MANILA, June 5 (Xinhua) -- The Philippines' inflation rate rose up to 3.9 percent in May from 3.8 percent in April, the Philippine Statistics Authority (PSA) said on Wednesday. The May inflation rate brings the national average in the first five months to 3.5 percent. In a news conference, PSA chief Dennis Mapa said the uptick in overall inflation in May was primarily influenced by the higher year-on-year.....»»
Philippine inflation rate slightly rises to 3.9 pct in May
MANILA, June 5 (Xinhua) -- The Philippines' inflation rate rose up to 3.9 percent in May from 3.8 percent in April, the Philippine Statistics Authority (PSA) said on Wednesday. The May inflation rate brings the national average in the first five months to 3.5 percent. In a news conference, PSA chief Dennis Mapa said the uptick in overall inflation in May was primarily influenced by the higher year-on-year.....»»
NLEX toll rate tataas sa June 4
Muling tataas ang toll rate sa North Luzon Expressway simula sa June 4, 2024. The post NLEX toll rate tataas sa June 4 first appeared on Abante......»»
BSP’s monetary board retains policy rate at 6.5%
This has been the fifth time the MB kept the interest rate since its off-cycle policy rate hike in October 2023 to mitigate supply-side inflation pressures......»»
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.....»»
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......»»