Budget gap shrank to P138.5B in Sept

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 23 Oct 2020 17:08:33 +0000

The government’s fiscal deficit slimmed to P138.5 billion in September as revenues and spending both declined by double digits in the month, data from the Bureau of the Treasury (BTr) showed on Friday. The shortfall was smaller than the P178.6-billion deficit a year earlier, but higher than the P40.1-billion gap in August. “The budget gap […]

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Okayed foreign borrowings up 48% in Q3

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 23 Oct 2020 17:06:08 +0000

The country’s monetary authorities approved more foreign borrowings by the national government in the third quarter of 2020, the Bangko Sentral ng Pilipinas (BSP) reported on Friday. In a statement, the central bank said its policymaking Monetary Board (MB) greenlighted an aggregate $3.91 billion in foreign borrowings in July to September. The amount was a […]

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PSEi closes at strongest level since June

Credit to Author: Faye Almazan| Date: Fri, 23 Oct 2020 17:04:15 +0000

Improved corporate earnings and the continued decline in new coronavirus disease 2019 (Covid-19) cases helped the stock market surpass the 6,400 mark on Friday. The benchmark Philippine Stock Exchange index (PSEi) jumped by 2.2 percent or 139.43 points to close at its intraday high of 6,484.06 — the highest since its 6,476.24 finish on June […]

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Budget gap, debt-to-GDP ratios to expand

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 16 Oct 2020 16:33:45 +0000

Fitch Ratings has projected wider Philippine budget deficit- and general government debt-to-gross domestic product (GDP) ratios this year, still on account of the coronavirus disease 2019 (Covid-19) pandemic. In a report on Friday, Fitch Ratings analyst Sagarika Chandra said the government’s fiscal shortfall could swell to 7.5 percent of total domestic output this year “as […]

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‘Travel agencies, tour operators can reopen’

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Fri, 16 Oct 2020 16:32:26 +0000

Travel agencies, tour operators, and related businesses and services in the country can now resume operations today at different capacities, depending on their location. This was announced by Trade Secretary Ramon Lopez through a memorandum circular he signed on October 14 and released on Friday, which recategorized travel and tourism-related firms from Category 4 to […]

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‘WPS ban lifting to lead to energy security’

Credit to Author: Eireene Jairee Gomez| Date: Fri, 16 Oct 2020 16:31:53 +0000

The Department of Energy (DoE) on Friday voiced optimism that the Philippines would finally attain energy independence after the government lifted the ban on oil and gas exploration activities in the disputed West Philippine Sea (WPS or South China Sea) on its recommendation. In a virtual conference on Friday, Energy Secretary Alfonso Cusi said lifting […]

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Weak participation, catalyst lack drag PSEi

Credit to Author: Faye Almazan| Date: Fri, 16 Oct 2020 16:30:10 +0000

The stock market capped off another trading week in the red on investors’ anemic participation and the absence of catalysts. The benchmark Philippine Stock Exchange index (PSEi) declined by 0.67 percent or 39.86 points to end at its intraday low of 5,898.47 while the wider All Shares dipped by 0.1 percent or 3.71 points to […]

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OFW remittances fell to $2.75B in August

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Oct 2020 16:20:15 +0000

Money sent home by overseas Filipino workers (OFWs) declined in August, keeping the eight-month tally smaller than the year-ago amount, data from the Bangko Sentral ng Pilipinas (BSP) showed on Thursday. Personal remittances — personal transfers in cash or kind and capital transfers between households — reached $2.75 billion in the month, a 10.66-percent and […]

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Forex reserves breached $100-B mark in Sept

Credit to Author: Mayvelin U. Caraballo, TMT| Date: Thu, 15 Oct 2020 16:19:40 +0000

The foreign exchange (forex) operations of the Bangko Sentral ng Pilipinas and deposits from the national government (NG) lifted the country’s gross international reserves (GIR) to a record $100.49 billion at end-September. Preliminary data from the central bank showed on Thursday that the amount was a 1.55-percent and 17.42-percent increase from those posted a month […]

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Budget passage hopes lift PH stocks

Credit to Author: Faye Almazan| Date: Thu, 15 Oct 2020 16:18:39 +0000

Local shares slightly rose on Thursday on optimism that the 2021 national budget would be passed on time after the leadership dispute in the House of Representatives was resolved. The bellwether Philippine Stock Exchange index (PSEi) inched up by 0.22 percent or 13.03 points to close at 5,938.33 while the broader All Shares added 0.15 […]

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