Philippine economy expands 5.7% in Q1

Ian Nicolas P. Cigaral - @inquirerdotnet 05/09/2024

MANILA — The Philippine economy expanded by 5.7 percent in the first quarter of the year, up from 5.5 percent in the previous quarter, according to the Philippine Statistics Authority (PSA). However, this growth was below the government’s…

Saving money in piggy banks? BSP explains risks, disadvantages of not saving in banks

Niña Mae Oliverio 05/09/2024

CEBU CITY, Philippines — If you are saving money in your piggy banks, you might consider the advice from Bangko Sentral ng Pilipinas (BSP). BSP Visayas Director Anna Clara Oville said that among the benefits of saving…

Farmers’ group: Rice tariff law results to P44B in economic losses

Russel Loreto 05/06/2024

MANILA, Philippines — A farmers’ group wants to get rid of the rice tariffication law or Republic Act No. 11203. They don’t think the changes proposed by the House of Representatives will fix the problem of expensive rice.…

PH economy seen to accelerate in 2024 but faces high inflation, El Niño-driven risks

Ian Nicolas P. Cigaral 04/29/2024

The Philippine economy is expected to grow faster this year, but it might not reach the government’s target due to the impact of the El Niño climate phenomenon on food supply and the risk of high inflation.…

Cebu City wants to declare special ‘BPO Day’ to honor sector’s economic impact

Niña Mae C. Oliverio 04/21/2024

CEBU CITY, Philippines — Cebu City’s economy has benefited significantly from the Business Process Outsourcing (BPO) industry. The City Council plans to honor the dedicated workers in this sector by declaring a special ‘BPO Day’. Councilor Pancrasio “Francis”…

AI impact on IT-BPM industry fuels future growth

Carl Lorenciana 04/18/2024

The Contact Center Association of the Philippines (CCAP) said that generative Artificial Intelligence (AI) has generated positive impact not just to contact center companies but also to the entire Information Technology and Business Process Management (IT-BPM) industry.…

Creative economy contributes P1.72 trillion to GDP in 2023

Ian Nicolas P. Cigaral 03/22/2024

MANILA, Philippines — The local creative economy surged ahead in 2023, surpassing national output growth to reach a total value of P1.72 trillion. This sector not only generated more jobs but also made a significant contribution to…

Cebu’s economy seen to grow with South African partnership

Pia Piquero 03/16/2024

CEBU CITY, Philippines – Cebu’s economy is expected to experience significant growth after a potential foreign business investor proposed a collaboration with the province. The South African Ambassador to the Philippines, H.E Bartinah Ntombizodwa Radebe-Netshitenzhe, revealed the…

South Korea prepares $57 billion corporate financial support programme

02/15/2024

SEOUL (Reuters) – South Korea has prepared a financial support programme of 75.9 trillion won ($56.97 billion) for companies increasing investment in key sectors as well as small businesses struggling with the impact of high interest rates.…

Japan unexpectedly slips into recession, Germany now world’s third-biggest economy

02/15/2024

TOKYO (Reuters) -Japan unexpectedly slipped into a recession at the end of last year, losing its title as the world’s third-biggest economy to Germany and raising doubts about when the central bank would begin to exit its…

Tech-savvy families drive PH leisure spending surge

Ian Nicolas P. Cigaral 02/15/2024

The increasing number of tech-savvy families in the middle and upper-income brackets is boosting the demand for leisure items in the Philippines, said BMI, a unit of the Fitch Group. This trend is expected to benefit the…

Investors told: Keep cash amid US recession fears

Miguel Camus 01/30/2024

MANILA, Philippines —A top stockbrokerage in the country advises investors to keep cash amid US recession fears, despite the Philippines’ strong economic growth bouyed by easing interest rates and inflation. COL Financial Group chief equity strategist April…

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