Economy

Stay up to date with the country’s Economic growth and development, issues on the economy and latest trends.

Pesos

MANILA – The Philippine peso hits the 49:$1 territory on Friday, gaining 20 centavos to close at a level not seen since 2017. The strengthened local currency closed at an intraday high of P49.80 as inflation relaxes to a six month low in May and optimism among traders as they expect recovery of the economy affected by the Covid-19 pandemic. RCBC chief economist Michael Ricafort said the Peso continued to

Taiwan-workers

TAIPEI – Taiwan’s foreign ministry has dismissed the Philippine government’s call for the deportation of a Filipina worker critical of President Rodrigo Duterte’s response to the coronavirus disease 2019 (COVID-19) pandemic. Taiwan’s Ministry of Foreign Affairs spokeswoman Joanne Ou said that foreign workers enjoy the freedom of speech in the country and their rights and interests are being protected by the country’s laws and regulations. “Taiwan is a sovereign, independent

Proper-Diet-to-Fight-COVID-19-ThreatProper-Diet-to-Fight-COVID-19-Threat

The COVID-19 pandemic has turned the focus of the world to the immune system, the defensive mechanism of the body against disease-causing bacteria, viruses, and other species that we touch, eat and inhale every day. A safe lifestyle which is not smoking, consuming less to no alcohol, sleeping regularly, maintaining a nutritious diet, taking mild exercise on a daily basis, and reducing stress – lets our immune systems be in

The Department of Budget and Management (DBM) is preparing to increase the budget for the installation of the 2019 novel coronavirus acute respiratory disease (nCoV) and assistance for the Taal Volcano eruption victims, Speaker Alan Cayetano said Friday.

The Department of Budget and Management (DBM) is preparing to increase the budget for the installation of the 2019 novel coronavirus acute respiratory disease (nCoV) and assistance for the Taal Volcano eruption victims, Speaker Alan Cayetano said Friday. Cayetano, in a statement, said he had obtained such assurance from DBM Chief Wendel Avisado at their meeting. Quezon Representatives Angelina Tan and Albay Rep. Joey Salceda are seeking an additional P2-billion

OceanaGold

Didipio, Nueva Vizcaya – OceanaGold Philippines, Inc. (OGPI) recently published information on its contributions to the local economy from its years of commercial manufacturing. The firm has provided the region with a total of P39.5 billion in the form of taxes, jobs, agricultural and social development assistance. It has remitted nearly 780-million pesos from a combination of 580-million in local business and 210-million in real estate taxes for Nueva Vizcaya

financial team

The financial team of President Rodrigo Duterte is confident that the sky-high inflation in 2018 will not occur again for the remainder of his term, as the government is ramping up reforms and external forces are becoming favourable. The Development Budget Coordination Committee (DBCC) even lowered the inflation outlook for 2019 to between 2.7% and 3.5% at its 176th session. The previous outlook was 2% to 4%. Due to the

ADB

The Asian Development Bank (ADB) has cut its 2019 growth prediction for the Philippines to 6.2 percent, primarily owing to government underspending at the beginning of the year that pushed first-quarter economic expansion to a four-year low. The Asian Development Outlook Supplement study published Thursday by the multilateral lender based in Manila showed a reduced gross national product (GDP) growth projection for this year from 6.4 percent earlier, even as

money

France’s finance minister said that the post-war global monetary order required to be reinvented or become increasingly dominated by China. Since its founding at the Bretton Woods Conference in New Hampshire in July 1944, the pillars of that order, the International Monetary Fund and its sister institution the World Bank, have been governed by the United States and Europe. But globalization, the increasing populist backlash against it, and the rise

petrol station

PETRON Corp. is placing its development plans on the back burner in the Philippines as it is waiting to stabilize worldwide crude oil prices. Earlier, the listed oil refiner said it was spending $1 billion to upgrade its refinery and expand its retail network over the next three years. About $600 million of this expenditure was allocated for its development of the refinery in Limay, Bataan. Petron’s business is getting

rice

With rice tariffication in place, bulking up investments in research and development in agriculture and investing in irrigation, among others, can markedly increase rice yields and farm productivity in the long run, the National Economic and Development Authority (NEDA) said in a statement on Thursday. NEDA, in partnership with the International Food Policy Research Institute (IFPRI), conducted an assessment on the projected impact of the removal of the quantitative restriction