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BSP says inflation to peak soon, continues FX intervention
While in New York along with the Marcos administration’s economic team, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla tried to assure US investors that the central bank will bring back inflation to within the target range by 2024, and vowed to temper peso depreciation.
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Economic team courts US investors
President Marcos’ economic managers were pursuing more foreign investments from the US, trumpeting the country’s sound macroeconomic fundamentals, the government’s clear roadmap for economic recovery, and sustainable growth.
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Consumers turn more optimistic in Q4 — BSP survey
espite high inflation and a depreciated peso, Filipino consumers have a more favorable outlook for the last quarter of 2022 and in the next 12 months on expectation of additional income and improved employment condition, according to the latest Consumer Expectation Survey (CES) of the Bangko Sentral ng Pilipinas (BSP).
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Zobel sees more new sources of jobs
Jaime Augusto Zobel de Ayala, chairman of one of the Philippines’ leading conglomerates Ayala Corp., said the government’s continuing infrastructure roll out, tourism and digitalization are creating externalities that will become top sources of new jobs in the country.
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Meralco fast tracks power service restoration
From over 1.2 million customers who suffered power service interruptions at the height of super typhoon Karding’s devastation, power utility giant Manila Electric Company (Meralco) announced that it already brough back the electricity services of most of its affected subscribers.
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SSI Group performance exceed pre-covid levels
Retailer SSI Group reported a 383 percent jump in net income to P491 million in the first half of the year from a P173.7 million net loss in the same period of 2021 as second quarter 2022 sales, gross profit margins and net income exceed pre-COVID levels.
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Lotilla wants NPC to borrow to plug fuel budget shortfall
To plug budget shortfall on fuel procurements, Energy Secretary Raphael P.M. Lotilla prefers that state-run National Power Corporation (NPC) will resort to borrowings despite escalating interest rate that will eventually be shouldered by consumers in their electric bills.
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Gasoline prices cut by P1.65/liter; diesel by P1.25/liter
Motorists using gasoline products will benefit more in this week’s price rollback, as the per-liter cost of this commodity will be slashed by P1.65 per liter; while diesel prices will be trimmed by P1.25 per liter.
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Pinoys splurge more on hygiene than food during emergencies– research
Bathing is a daily ritual, sacred and taken seriously in the Philippines as research confirmed that Filipinos spend more for hygiene and self-care essentials, such as shampoo and conditioner, than food during emergencies.
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Health Carousel Philippines, Inc. earns ISO Certification
Health Carousel Philippines, Inc. (HCPI) has been awarded with an International Organization for Standardization (ISO) for its Quality Management System according to ISO 9001:2015.
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InLife to recruit 400 financial advisors from Cebu
InLife to recruit 400 financial advisors from Cebu
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Moody’s Analytics sees further interest rate hikes
The Bangko Sentral ng Pilipinas (BSP) is expected to continue raising its key policy rates in the final two months of the year in an attempt to tackle the faster than expected rate of increase in consumer prices.
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Telcos battle illegal cable cutting
Local telecom and cable providers have formed a coalition for the “Oplan Kontra Putol” campaign, in an intensified battle against illegal cable cutting.