Tag: bworldonline
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Peso slump could derail rate cuts
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THE PESO WEAKNESS could impact the Bangko Sentral ng Pilipinas’ (BSP) policy easing cycle even after inflation has settled within target for a sixth straight month in May, analysts said.
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Marcos says inflation is still Philippines’ ‘greatest problem’
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PHILIPPINE PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday said inflation remains a major concern for his government. “It remains unfortunately our greatest problem that is brought by forces that we cannot control,” Mr. Marcos said at an annual Independence Day reception for diplomats at the Presidential Palace. Headline inflation hit…
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World Bank says global growth stabilizing but below pre-COVID levels
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WASHINGTON — The World Bank on Tuesday said the US economy’s stronger-than-expected performance has prompted it to lift its 2024 global growth outlook slightly but warned that overall output would remain well below pre-pandemic levels through 2026. The World Bank said in its latest Global Economic Prospects report that the…
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Meralco seeks bids for 600-MW baseload supply
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MANILA Electric Co. (Meralco) said it has started the bidding process for 600 megawatts (MW) of baseload power supply to meet energy requirements from 2025 onwards. The company launched the competitive bidding process aimed at securing a 15-year power supply agreement, scheduled to start on Aug. 26, 2025, Meralco said…
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PHL has room to raise taxes — IMF
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THE PHILIPPINES’ fiscal consolidation plan may be too “ambitious,” the International Monetary Fund (IMF) said, noting that the government still has room to raise taxes to generate much-needed revenues.
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April trade gap widest in 5 months
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THE PHILIPPINES’ trade deficit narrowed year on year in April but posted the widest level in five months, as exports and imports posted double-digit growth, the statistics agency said on Tuesday.
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Banking industry outlook is ‘improving,’ says Fitch
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THE PHILIPPINE BANKING industry’s revenue prospects are seen to further improve this year amid strong lending growth and an expected delay in policy easing, Fitch Ratings said. In a commentary, Fitch said that it revised its outlook on the Philippine banking sector to “improving” from “neutral.” “We expect banks to…
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New vehicle sales rise by 5.5% in May
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PHILIPPINE AUTOMOTIVE SALES rose by an annual 5.5% in May, amid “good consumer demand,” according to an industry group.