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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read moreCredit 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 […]
Read more