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...
The Board of Investments (BOI) has formalized a tripartite agreement with Sumitomo Mitsui Banking Corp. and Rizal Commercial Banking Corp. (RCBC) to bolster the pipeline of Japanese capital into the country, targeting a broader array of domestic industrial sectors. In a statement on Monday, April...
Despite escalating tensions in the Middle East, the Board of Investments (BOI) is pressing ahead with investor engagements in the region, as firms signal continued interest in Philippine projects and new opportunities emerge from the country’s inclusion in the United States (US)-led Pax Silica...
Groundbreaking for the planned United States (US) economic security zone in the Philippines could take place within the current Marcos Jr. administration, with the project expected to generate hundreds of thousands of jobs once fully developed, Philippine investment officials said. Officials from...
The Bangko Sentral ng Pilipinas (BSP) signaled a shift toward a tightening cycle, with the central bank chief indicating that the recent quarter-point increase in the benchmark borrowing rate is likely the first of several gradual moves to tame resurgent price pressures. BSP Governor Eli M....
The inflation-targeting Bangko Sentral ng Pilipinas (BSP) is expected to raise the policy rate by 25 basis points (bps) to 4.5 percent to confront war-driven price hikes head-on, according to investment banking giant Goldman Sachs. “Given its price stability mandate, we believe the BSP will hike...
While Asian currencies have been on a modest decline since Middle East tensions flared up, Japanese financial giant MUFG Bank Ltd. said the Philippine peso was the biggest loser among regional currencies, given the domestic economy’s high exposure to imported oil. Separately, think tank Capital...
The Civil Aeronautics Board (CAB) increased the passenger fuel surcharge to a record level as global jet fuel prices continue to surge, a move that is set to make air travel more expensive for the remainder of the month. In an advisory dated April 13 but released on Wednesday, April 22, the CAB...
British banking giant Barclays has maintained its “underweight” rating on Philippine sovereign debt, following Fitch Ratings’ decision to downgrade the country’s credit outlook to ‘negative’ amid mounting fiscal and growth concerns. In an April 20 report obtained by Manila Bulletin,...
British banking giant Barclays expects Philippine economic growth this year to fall to a new post-pandemic low, even as easing tensions in the Middle East may help limit further downside risks to the outlook. An April 17 report obtained by Manila Bulletin showed Barclays’ latest forecast of just...
The United States (US) and the Philippines are planning to establish a 4,000-acre, or a nearly 1,619-hectare (ha), industrial hub in Luzon aimed at strengthening supply chains for critical inputs, according to the US Department of State. In an April 16 fact sheet, the US State Department said the...
The government has extended the deadline for companies to report their tax incentives and benefits by one month, providing relief to businesses grappling with the nationwide energy emergency. Inter-agency Fiscal Incentives Review Board (FIRB) moved the submission date for the annual tax incentives...
