OFW remittances post Oct rebound

Money sent home by overseas Filipino workers (OFWs) bounced back in October, the Bangko Sentral ng Pilipinas (BSP) reported on Friday, boosting the year-to-date tally past the $25-billion mark. Personal remittances rose to $2.55 billion from $2.32 billion a year ago, up 9.7 percent and recovering from September’s five-month low of $2.44 billion. Year to […]

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Over 170,000 Pinoys affected by Uber breach

The massive data breach that hit ride-hailing company Uber last year affected about 171,000 Filipino drivers and passengers, the National Privacy Commission (NPC) said on Friday. In a statement, NPC Commissioner Raymund Enriquz Liboro said Uber confirmed the news to his agency last Thursday. “Uber made public additional information earlier made available to us on […]

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PH upgrade to boost global bond offering

The Philippines’ upgraded investment rating bodes well for a planned global bond offering, Treasury and Finance officials said. Fitch’s move to raise the country further into investment-grade territory, they claimed, was an endorsement of the Duterte administration’s economic strategy, which is anchored on a comprehensive tax reform plan and a massive infrastructure modernization program. “We […]

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BoP to hit $1.4-B deficit in 2017 – BSP

The country will likely post a substantially higher balance of payments (BoP) deficit this year, the Bangko Sentral ng Pilipinas announced on Friday. Projections of a greater net outflow in the financial account could lead to an overall BoP deficit of $1.4 billion, officials said in a briefing, much higher than the previous forecast of […]

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Key rates, inflation forecasts unchanged

Philippine monetary officials maintained key interest rates on Thursday as expected, given a “broadly unchanged” inflation environment. Consumer price growth forecasts for this year to 2019 were also retained despite upside risks, the Bangko Sentral ng Pilipinas (BSP) announced. In its final meeting for the year, the policymaking Monetary Board (MB) kept the central bank’s […]

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Pernia: 2017 GDP growth may fall between 6.7-6.9%

Full-year economic growth will likely come in below the midpoint of the 6.5-7.5 percent target and last three months of 2017 could see an easing from the third quarter’s better-than-expected results, a Cabinet official said on Thursday. “[Growth for 2017 is estimated to fall] between 6.7 percent and 6.9 percent,” Socioeconomic Planning Secretary Ernesto Pernia […]

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Test Your Knowledge: Differences Between Private Sector and Government Managers

It’s become a cliché that government would be better if it were only run by private-sector managers using standard business practices. However, there are significant differences between the private sector and government. This quiz is designed to test your knowledge of those differences. Create your own user feedback survey To learn 18 more differences, read “25 Differences Between […]

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ADB raises PH growth forecasts

The Asian Development Bank (ADB) has upgraded its Philippine growth forecasts for this year and the next on account of infrastructure investments as well as strong household consumption. “GDP (gross domestic product) growth forecasts are raised from 6.5 percent to 6.7 percent for 2017 and from 6.7 percent to 6.8 percent for 2018,” the Manila-based […]

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PH bitcoin transactions averaging $8M monthly

Virtual currency transactions in the Philippines now average over $8 million per month, the Bangko Sentral ng Pilipinas (BSP) said. “For the first half of the year, the transactions are about $8.8 million on the average per month,” said Melchor Plabasan, deputy director and head of the central bank’s Core Information Technology Specialist Group. Plabasan […]

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Auto sales up 16.8% ahead of higher taxes

Year to date automotive sales were up 16.8 percent as of the end of November and the month itself saw a 23.8 percent surge in vehicles leaving showrooms, industry data released on Wednesday showed. In a joint report, the Chamber of Automotive Manufacturers of the Philippines (CAMPI) and the Truck Manufacturers Association (TMA) said they […]

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