Foreign banks expect Philippine inflation to have picked up further in May, above the already more-than-four-year high of 7.2 percent last April, making room for more interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). In a May 29 report obtained by Manila Bulletin, Goldman Sachs...
Foreign banks are turning more hawkish on domestic consumer prices than the central bank, warning that expiring price freezes and unabsorbed food costs will drive inflation beyond official projections. Frankfurt-based Deutsche Bank AG has an inflation forecast of 8.1 percent for May, breaching the...
International Finance Corp. (IFC) is collaborating with Thailand-based renewable energy (RE) developer Sermsang Power Corp. Public Co. Ltd. as the latter pursues its planned entry into the Philippines through a proposed RE generation project on Negros Island. In a disclosure over the weekend, the...
Inflation may have surged to as high as 7.9 percent in May, driven by soaring basic commodity prices and the weakening local currency, according to the Bangko Sentral ng Pilipinas (BSP), Amid intensifying macroeconomic headwinds, global supply shocks filter into the domestic economy, the central...
Arthaland Corp., the green property developer controlled by the Po family, expects to generate ₱12 billion in revenue from its upscale Sondris residential project in Makati, capitalizing on resilient demand for premium sustainable real estate. In an interview, Arthaland Marketing Group Head...
Relying solely on the Bangko Sentral ng Pilipinas’ (BSP) interest rate hikes will likely provide limited support for the Philippine peso, which remains on the verge of another historic low amid elevated oil prices, a stronger United States (US) dollar, and cautious market risk appetite, according...
The inflation-targeting Bangko Sentral ng Pilipinas (BSP) is expected to continue raising interest rates to contain surging inflation despite the risk of slower economic growth. In a May 22 report, Japanese financial giant MUFG Bank Ltd. said the Philippines is facing one of the most severe...
Japanese financial giant MUFG Bank Ltd. revealed that the Philippine peso has emerged as the worst-performing currency in Asia since the flare-up of deepening military tensions between the United States (US) and Iran. According to data monitored by MUFG covering 11 Asian currencies, the peso has...
The peso shed 26 centavos against the United States (US) dollar on Thursday, May 14, closing at a fresh record low of ₱61.64 from ₱61.38 last Wednesday, May 13. According to the Bankers Association of the Philippines (BAP), the local currency hit an intraday low of ₱61.66 and a high of...
Four Asian economies—India, Indonesia, Taiwan, and Vietnam—are expected to outpace Philippine economic growth this year, as the country’s expansion remains muted amid pressures from overheating inflation, rising unemployment, and slowing remittances. American financial giant Goldman Sachs...
Zobel-led conglomerate Ayala Corp. has secured its first Singapore dollar-hedged loan through a $100 million (or Singapore dollar equivalent) sustainability-linked facility with DBS Bank Ltd. In a statement on Monday, May 11, Ayala said the facility further diversifies its funding sources while...
An off-cycle policy meeting by the Bangko Sentral ng Pilipinas (BSP) could signal to investors that the central bank is falling behind the inflation curve, potentially triggering further market volatility, according to a former senior policymaker. Diwa Guinigundo, a former BSP deputy governor who...
