Philippine Seven Corp (PhilSeven)., the operator of 7-Eleven convenience stores in the country, brushed off the rapid expansion of mini-marts and hard discounters, stating that the competitive formats pose no material threat to its top line. Lawrence M. De Leon, PhilSeven head of finance and...
The Philippines recorded its lowest poverty rate on record last year, achieving its single-digit target ahead of schedule as sustained economic growth and tamer inflation boosted household incomes. According to full-year data released by the Philippine Statistics Authority (PSA), the country’s...
Philippine Seven Corp. (PhilSeven), the exclusive licensor of 7-Eleven convenience stores in the Philippines, sustained its strong first-half sales growth in July, but growth has been dampened this month as heavy rains and floods kept some customers away. During the recent Philippine Stock Exchange...
The Bangko Sentral ng Pilipinas (BSP) signaled it remains prepared to adjust monetary policy further as upside risks to inflation accelerate and spillover effects threaten to broaden across the economy. Speaking at a legislative budget briefing on Monday, Aug. 17, BSP Governor Eli M. Remolona Jr....
The Philippines must push through political and economic reforms in the final two years of the Marcos Jr. administration to rebuild confidence and strengthen the economy’s growth potential, according to the country’s chief economist. During the Development Budget Coordination Committee (DBCC)...
The Philippines remains far from stagflation despite high inflation and sluggish economic growth, members of the Marcos Jr. administration’s economic team said, pushing back against Monetary Board Member (MBM) Benjamin E. Diokno’s characterization of the current situation as “stagflation...
Fears that artificial intelligence (AI) could lead to massive job losses in the Philippines’ information technology and business process management (IT-BPM) industry may be overstated as the sector continues to grow despite the rapid adoption of the technology, the country’s chief economist...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. said the central bank had projected second-quarter economic growth to pick up faster than the actual reading, but noted that output remains weak. Speaking at the Economic Journalists Association of the Philippines (EJAP) economic forum...
Foreign investors seeking entry into the Philippines could soon use the Social Security System (SSS) as anchor to expand locally, a move that may accelerate capital deployment alongside the nation’s sovereign wealth fund. SSS President and Chief Executive Officer (CEO) Robert Joseph M. De Claro...
The Philippines managed to secure only one merger and acquisition (M&A) deal in the second quarter as foreign investors are becoming more selective in deal-making, according to Singapore-based media company DealStreetAsia. In a report, DealStreetAsia said the country’s M&A deal volume fell to...
State-run Social Security System (SSS) is eyeing to invest roughly about ₱75 billion of its trillion-peso reserve fund overseas over the next five years as it seeks to diversify beyond the “unexciting” domestic market. SSS President and Chief Executive Officer (CEO) Robert Joseph Montes De...
Pressure on the Bangko Sentral ng Pilipinas (BSP) to raise its benchmark interest rate has eased after economic growth slowed to a post-pandemic low in the second quarter of the year, according to the central bank officials. Speaking to reporters on the sidelines of the central bank’s...
