Tag: bworldonline
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Philippines’ move to upper middle-income level unlikely by 2025
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THE PHILIPPINES is unlikely to achieve the government’s goal of becoming an upper middle-income country by 2025, analysts said. Analysts said Philippine gross domestic product (GDP) needs to expand by at least 6% annually in the near term to ensure a significant growth in Filipino incomes. “The Philippines can still…
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BSP @ 31: Shaping the financial landscape towards sustainable growth
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A central bank needs to accomplish a few things in its service to the nation: among which are monetary policy, which involves controlling the money supply and interest rates to achieve macroeconomic objectives such as controlling inflation, managing employment levels, maintaining economic stability; the regulation and supervision of banks and…
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Board approves P35 NCR wage hike
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THE REGIONAL Tripartite Wages and Productivity Board (RTWPB) has approved a P35 minimum wage hike for workers in the National Capital Region (NCR), which will take effect on July 17.
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Philippine manufacturing growth slips to 3-month low
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PHILIPPINE MANUFACTURING activity in June expanded at its slowest pace in three months amid cooling demand, S&P Global said. The S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI), which measures the country’s monthly factory performance, stood at 51.3 in June, slightly lower than the 51.9 reading in May. June was…
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BSP may cut by 50 bps in October — BMI
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A WEAK PESO may cause the Bangko Sentral ng Pilipinas (BSP) to delay the start of its easing cycle, with a 50-basis-point (bp) cut in October at the earliest, Fitch Solutions’ unit BMI said. “Given that the peso has come under heavy pressure due to fluctuations in US interest rate…
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DoubleDragon’s Sia: 2024 last chance for 8.008% retail bond
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LISTED property developer DoubleDragon Corp. (DD) has set the interest rate for its forthcoming 3.5-year retail bond offering at 8.008% per annum. “I personally believe that 2024 could be the very last year in my entrepreneurial journey that the retail public can participate with a retail bond priced at 8.008%…
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Gov’t urged to prepare for expected surge in rice imports
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THE MARCOS ADMINISTRATION should ensure that the lower tariffs on imported rice will not result in a further decline in rice self-sufficiency, the Philippine Chamber of Agriculture and Food, Inc. (PCAFI) said. In a letter to President Ferdinand R. Marcos, Jr., PCAFI President Danilo V. Fausto aired the group’s “grave…
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CREC, SMC power arm to boost solar capacity with 153.5-MW plant in Bataan
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CITICORE Renewable Energy Corp. (CREC) has formed a joint venture with SMC Global Light and Power Corp. (SGLP), the power arm of San Miguel Corp. (SMC), to build a 153.5-megawatt (MW) solar power plant in Mariveles, Bataan, the Saavedra-led solar power company said on Monday. CREC and SGLP recently signed an…
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June inflation likely within target
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HEADLINE INFLATION likely remained steady in June and settled within the central bank’s 2-4% target for a seventh straight month, analysts said.
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Housing price growth slows in first quarter
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RESIDENTIAL PROPERTY PRICES nationwide rose at a slower pace in the first quarter, the Bangko Sentral ng Pilipinas (BSP) said. Data from the central bank showed that the Residential Real Estate Price Index (RREPI) rose by an annual 6.1% in the January-March period but slowed from the 6.5% growth in…