PH export, import growth goals slashed
With global demand and supply constrained by the COVID-19 pandemic, the government economic team has slashed the country’s external trade growth targets even as it expects domestic inflation to settle…
PSEi posts slight gain as market cheers improvement in oil prices
The local stock barometer firmed up for the first time this week on Thursday as global markets welcomed a nascent recovery in global oil prices. The main-share Philippine Stock Exchange…
SEC orders shutdown of 4 online lending ventures
The Securities and Exchange Commission (SEC) has ordered the shutdown of four online lending platforms that had been operating without the proper permits, imposing “unreasonable” terms and using “abusive” practices.…
IC gives life insurers more time to sell online amid COVID-19 crisis
MANILA, Philippines — In light of the two-week extension of the ongoing enhanced community quarantine until April 30, the Insurance Commission (IC) has given life insurers more time to sell…
European economies on course for unprecedented recession
A man walks along an empty street in downtown Barcelona, Spain, Monday, April 20, 2020, as the lockdown to combat the spread of coronavirus continues. (AP Photo/Emilio Morenatti) LONDON —…
DBM orders belt-tightening to preserve funds for COVID-19 fight
To ensure that the government won’t run short of funds to fight COVID-19, the Department of Budget and Management (DBM) has ordered agencies to tighten their belts and defer non-essential…
UK think tank: PH infra growth ‘slow’ as DPWH, DOTr can’t fully spend budgets
The Philippines stood to gain much from its ambitious infrastructure spending spree but rollout of projects so far had been “slow” as implementing agencies struggled to spend bigger budgets, UK-based…
Target of WB’s $100M COVID-19 loan to PH: Save 16,700 lives
The World Bank (WB) has given the green light to a $100 million loan for the Philippine Department of Health’s (DOH) COVID-19 Emergency Response Project which seeks to acquire more…
PH banks free to assume more dollar risk under new BSP rules
The central bank has eased a rule that had required financial institutions to keep a 100-percent buffer of assets for their foreign currency liabilities on a daily basis, saying that…
NEDA dangling tax-free perks for 6 development projects
MANILA, Philippines – The state planning agency National Economic and Development Authority (Neda) is dangling tax incentives to private individuals and firms that will donate money to six programs under…