Tag: phl
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PHL banks fall short of lending quota for small, medium businesses
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PHILIPPINE BANKS failed to meet the mandated quota for small business loans in the first quarter, data from the Bangko Sentral ng Pilipinas (BSP) showed. Loans extended by the banking industry to micro-, small-, and medium-sized enterprises (MSMEs) amounted to P474.922 billion as of end-March. This made up only 4.41%…
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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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PHL eyes ODA from France to fund projects
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THE PHILIPPINES and France have signed a government-to-government agreement to secure funding for the former’s priority projects, the Finance department said. In a statement on Monday, the agency said the agreement would allow the Philippine government to obtain concessional official development assistance (ODA) and blended financing from France. This would…
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PHL big banks’ asset growth quickens in Q1
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THE COMBINED ASSETS of the Philippines’ biggest lenders rose in the first quarter, fueled by increasing confidence in the economy’s prospects.
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HSBC sees above 6% growth for PHL in Q2
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THE PHILIPPINE ECONOMY is expected to grow above 6% in the second quarter amid base effects and improved government spending, HSBC Global Research said on Wednesday. “For the second quarter, [the economy is] going to grow above 6%, mainly because of base effects, because as you remember, in second quarter…
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WB keeps PHL growth projection for 2024, 2025
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THE WORLD BANK (WB) kept Philippine growth forecasts for 2024 and 2025 amid improved global conditions and better trade, but said delayed policy easing and China’s property sector woes pose risks to the outlook.
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Semiconductors, renewables to drive PHL growth — Go
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THE PHILIPPINE government is banking on the semiconductor and renewable energy (RE) sectors to drive economic growth, according to the Palace’s chief investment adviser.
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Web attacks on PHL companies more than triple
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ONLINE attacks targeting Philippine companies more than tripled last year from 2022, Kaspersky said on Monday, highlighting the urgency of boosting cyber defenses against web threats that can reverse the benefits of digitalization. In a statement, the global cybersecurity company said the number of web threats on local companies jumped…
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‘Most exciting chapter’ for PHL yet to come — WEF
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THE Philippines could become one of the drivers of global growth in the future, if the government continues to ease foreign ownership restrictions and ramp up partnerships with the private sector, according to a World Economic Forum (WEF) executive.
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3 German firms considering PHL expansions, PEZA says
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THE Philippine Economic Zone Authority (PEZA) said three German companies in the automotive, semiconductor, and pharmaceutical industries are planning to expand their Philippine operations. In a statement Sunday, the investment promotion agency (IPA) said it found out about the expansion plans after business-to-business meetings on a visit to Germany this…