Fitch Ratings revise Philippines rating from positive to stable
May 8, 2020
Fitch Ratings on Thursday has revised the outlook on the Philippines’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to stable from positive, and affirmed the rating at ‘BBB’. Key rating drivers The revision of the outlook reflects deterioration in the Philippines’
Palace hopes economic rebound in H2 after GDP contraction in Q1
May 7, 2020
Malacanang expressed optimism on Thursday that the Philippine economy would register a “strong rebound” by the second half of this year following the contraction of the gross domestic product during the first quarter of this year. In a virtual press
ABS-CBN asks SC to stop NTC’s shut down order
May 7, 2020
ABS-CBN Corp. on Thursday asked the Supreme Court to issue a temporary restraining order to stop the National Telecommunications Commission from implementing its cease and desist order to shut down the broadcast firm. In a 46-page petition, ABS-CBN appealed to
PSE index ends slightly higher
May 7, 2020
The Philippine Stock Exchange ( PSE) index closed slightly higher on Thursday despite low first quarter growth. The peso closed at P50.56 against the US dollar from P50.46 on Wednesday. Volume at the foreign exchange portal of the Bankers Association
No free WiFi, sales, marketing events in malls under GCQ, says Palace
May 7, 2020
Malacañang said on Thursday that malls and shopping centers in areas under general community should turn off the free WiFi and suspend the sale and marketing events and other promotional activities in order not to attract large crowds. In a
NEDA chief Chua favors more telco players with need to shift to digital economy
May 7, 2020
Acting National Economic and Development Authority Director General Karl Kendrick Chua underscored on Thursday the need to shift to digital economy amid the coronavirus disease crisis. With this, Chua said he favors possible move for more players in the telecommunications
UPDATE: Philippine economy shrinks in Q1, first in 22 years
May 7, 2020
The Philippine economy contracted by 0.2 percent during the first quarter of this year, the lowest since 1998, the Philippine Statistics Authority said on Thursday. Acting Socioeconomic Planning Secretary Karl Kendrick Chua attributed the contraction of the gross domestic product
Q1 negative growth ‘inevitable’ outcome of initial COVID-19 hit
May 7, 2020
Finance Secretary Carlos Dominguez III has said the negative first-quarter growth was the inevitable outcome of the initial ravages on the global economy by the coronavirus disease 2019 (COVID-19), which first surfaced in Wuhan, China last December and then started “upending
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