US economy shrank at record-breaking 33% rate last quarter
In this July 13, 2020 file photo, a For Rent sign hangs on a closed shop during the coronavirus pandemic in Miami Beach, Fla. Having endured what was surely a…
Duterte’s telco takeover threat compounds red tape woes: 200 days to get permits
From breaking the duopoly to recent threats of a takeover, President Rodrigo Duterte’s relationship with industry giants PLDT Inc. and Globe Telecom has been a tense affair since the start…
Meet ‘BOB’, BSP’s chatbot to help consumers in complaints vs banks, financial firms
The Bangko Sentral ng Pilipinas (BSP) is now pilot testing an automated “chatbot” that will assist consumers in their complaints against banks and other financial institutions under the supervision of…
BSP economists see fuel prices nudging up July inflation
Prices of consumer goods and services were expected to have risen between 2.2 to 3 percent in July — higher than the central bank’s forecast for June — due to…
‘Hot money’ outflows from PH financial markets surged in H1 due to pandemic
MANILA, Philippines — Bangko Sentral ng Pilipinas-registered foreign portfolio investments for June 2020 yielded net outflows of $235 million resulting from the $1.3 billion gross outflows and $1.0 billion gross…
PH electronics sector seen to benefit from ‘high-tech’ COVID-19 new normal
MANILA, Philippines — The Philippines’ electronics sector stands to benefit from increasing global demand for tech goods amid COVID-19 lockdowns worldwide, hence would help ease the domestic recession inflicted by…
S. Korea, US extend $60b currency swap deal by 6 months amid pandemic
(Yonhap) SEOUL — South Korea and the United States have agreed to extend a $60 billion bilateral currency swap agreement by six months in an effort to help ease lingering…
Unilever to donate 1M worth of hygiene products across PH
Unilever Philippines is donating one million Lifebuoy hygiene products to different communities in need across the country. In an official statement posted on the company’s website in June, Unilever PH…
Asian stocks gain after Fed keep US interest rates low
BEIJING — Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. A currency trader walks near the screen showing the…
Wall Street rallies as Fed keeps rates pinned at record low
NEW YORK — Wall Street rallied on Wednesday, and the S&P 500 climbed 1.2% for its best day in two weeks after the Federal Reserve kept the accelerator floored on…