PhilExport’s Ortiz-Luis sees exports to end flat this year, 6% growth in 2020
December 16, 2019
Philippine Exports Confederation (PhilExport), Inc. president and CEO Sergio Ortiz-Luis Jr. said on Monday exports could “end flat” this year and could grow by 6 percent in 2020. In a forum in Manila, Ortiz-Luis blamed the ongoing trade war between
Philippine external debt up in Q3
December 14, 2019
Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said Friday the Philippines’ outstanding external debt stood at US$82.7 billion as of end-September, up by US$1.4 billion or 1.7 percent from the US$81.3 billion level as of end-June. The rise in
PCC clears circuit-maker Mikuni Toyo’s buyout of shares in mechatronics producer Hitachi in PH
December 13, 2019
The Philippine Competition Commission (PCC) has approved the acquisition by circuit board-maker Mikuni Toyo Co., Ltd. (Mikuni Toyo) of 100 percent of shares of ATM module assembler Hitachi Terminals Mechatronics Philippines Corporation (Hitachi), seeing the transaction as not likely to
ADB OKs $200-M loan to support delivery of PH flagship infra projects
December 13, 2019
The Asian Development Bank (ADB) has approved a $200 million loan to help the Philippine government prepare and implement major infrastructure projects under its flagship “Build, Build, Build” (BBB) development program. The loan, as additional financing to the ongoing Infrastructure
Central bank maintains benchmark interest rate
December 12, 2019
The Bangko Sentral ng Pilipinas maintained Thursday the benchmark interest rate amid benign inflation environment. In a statement, the Monetary Board said the BSP’s overnight reverse repurchase facility was kept at 4.0 percent and interest rates on the overnight deposit
PSE index gains, peso ends lower vs US dollar
December 11, 2019
The main Philippine share index closed higher on Wednesday. The peso closed at P50.81 against the US dollar from P50.735 on Tuesday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $782.8 million from $742.36
DBCC cuts growth, other macroeconomic targets for 2019
December 11, 2019
The interagency Development Budget Coordinating Committee (DBCC) has cut its growth target for this year to be “credible,” an official said on Wednesday. Emerging from the 177th DBCC meeting held at the Department of Finance in Pasay City, Budget Secretary
FDI post $566 million net inflows in September
December 11, 2019
Foreign direct investments (FDI) recorded net inflows of $566 million in September, 2.9 percent lower than the $582 million net inflows posted in the same period last year, the Bangko Sentral ng Pilipinas ( BSP) said Tuesday,. This was mainly
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