October inflation in Cebu rises to 2.8% as typhoon effects, food costs take their toll

Niña Mae C. Oliverio 11/17/2024

CEBU CITY, Philippines — After observing a significant downtrend in the inflation rate in September 2024, Cebu Province’s inflation rate accelerated to 2.8 percent in October, as reported by the Philippine Statistics Authority Cebu (PSA-Cebu). PSA Cebu…

OFW remittances hit $3.34 billion in September

Alden Monzon - @inquirerdotnet 11/16/2024

Overseas Filipinos’ remittances grew by 3.2 percent in September, matching August’s growth and marking the second-fastest rate this year. According to the Bangko Sentral ng Pilipinas (BSP), remittances reached $3.34 billion, up from $3.23 billion in September…

PH investments surge over 500% in Q3, driven by local investors

Alden Monzon - @inquirerdotnet 11/15/2024

Philippine government-approved investments surged over sixfold in the third quarter of this year, with nearly 75 percent coming from local investors. According to the Philippine Statistics Authority (PSA), total approved investments from foreign and Filipino sources reached…

Trump’s return seen to hit Philippine remittances

Ian Nicolas P. Cigaral - @inquirerdotnet 11/11/2024

Remittances to the Philippines and income from the business process outsourcing (BPO) sector may be affected by U.S. President-elect Donald Trump’s strict immigration policies. Meanwhile, reduced security support from Washington could heighten tensions in the West Philippine…

PH stock market surges past 7,400 mark amid positive economic outlook

Meg Adonis 09/27/2024

The local stock market regained the 7,400 level on Thursday, boosted by positive expectations for the country’s economic growth. By the end of the day, the Philippine Stock Exchange Index (PSEi) rose 1.31%, or 96.12 points, to…

Bankers maintain confidence in PH’s economic growth story

Morexette Marie B. Erram 09/23/2024

CEBU CITY, Philippines – Bankers here remain optimistic about the Philippines’ economic growth, noting that the global market should pay attention to the country’s potential. Recently, top executives of the Hong Kong Shanghai Banking Corp. (HSBC) in…

World Bank sees PH economy growing 6% this year

Ian Nicolas P. Cigaral - @inquirerdotnet 09/13/2024

The World Bank (WB) warned that despite expected interest rate cuts, the Philippine economy may still miss the Marcos administration’s growth target next year due to a slowing global economy. WB lead economist for Brunei, Malaysia, the…

Moody’s: Infrastructure push to bolster PH economic growth

Ian Nicolas P. Cigaral - @inquirerdotnet 08/26/2024

Moody’s Analytics said the government’s strong push to upgrade the Philippines’ infrastructure will help the economy maintain high growth, despite some uneven progress over the past year. The agency kept its GDP growth forecast for the Philippines…

Foreign investment pledges soar to P189.5B in Q2

Mariedel Irish U. Catilogo 08/16/2024

Foreign investment pledges approved by investment promotion agencies (IPAs) jumped by 220.07 percent in the second quarter compared to the same period last year, showing a strong rise in investor confidence, according to the Philippine Statistics Authority…

PH gains 2nd ‘A’ credit rating from Japan’s credit watcher, citing strong economic growth

Mariedel Irish U. Catilogo 08/15/2024

Japan’s Rating and Investment Information Inc. (R&I) has upgraded the Philippines’ credit rating to ‘A-’ with a stable outlook, citing strong economic growth and a better fiscal position. This is the country’s second ‘A-‘ credit rating, following…

PH economy grows 6.2% in Q2, buoyed by gov’t spending, strong investments

Mariedel Irish U. Catilogo 08/09/2024

The Philippine economy grew by 6.3 percent in the second quarter, thanks to increased government spending and strong investments, which helped counter the effects of high consumer prices on household spending. This growth is an improvement from…

Easing inflation, election spending seen to drive economic growth in Q2

Mariedel Irish U. Catilogo 07/22/2024

The Philippine economy may grow by 7.1 percent in the second quarter due to easing inflation and mid-term election spending, the Bank of the Philippine Islands’ (BPI) lead economist said. This exceeds the government’s annual growth target…

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