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First quarter car sales up 23%

Sales of local automotive vehicles grew double digit in the first quarter ending March this year. Data from Chamber of Automotive Manufacturers of the Philippines Inc. and Truck Manufacturers Association released Monday show that their combined sales for January to…

Output index hits Q1 high

The country’s output index continued to increase in March and hit the highest score for the first quarter of the year, a Purchasing Managers’ Index (PMI) survey by IHS Markit showed Monday. The Nikkei Philippines Manufacturing PMI in March recorded…

Residential price spike tame

The Bangko Sentral on Friday reported the slight year-on-year uptick in residential real estate prices in the last quarter of 2016. However, BSP Deputy Governor Diwa Guinigundo said it was understandable since the expanding domestic economy had the same impact…

Wealth accounting key to growth

The Philippines will continuously implement wealth accounting initiatives needed to sustain long-term development, the country’s chief economic planner said Thursday. National Economic and Development Authority Director General Ernesto Pernia said the agency supported natural capital accounting to help more Filipinos…

BSP refines DOSRI rules

The Bangko Sentral has amended the regulation on interlocking directorship and/officership of government representatives to clarify their positions vis-à-vis their offices’ share holdings in banks and non-bank financial institutions. According to BSP Circular No. 953, Series of 2017, the amendment…

Fitch confirms economy’s strength

Bangko Sentral Governor Amando M. Tetangco Jr. said Fitch Ratings decision on Wednesday to affirm its ratings on the country attests to the strength and resiliency of the domestic economy. Fitch Ratings has affirmed its investment grade ‘BBB-‘ rating, with…

Megaworld bonds upsized to P12B

Property developer Megaworld Corp. has upsized its fixed rate bonds issue to P12 billion from the initial offer size of P8 billion on strong demand from investors. The Series B fixed rate bonds priced at 5.3535 percent per annum due…

BSP sets March 31 deadline for old notes

The BSP reminds overseas Filipinos , Filipino immigrants and non-residents that they have until today March 31, 2017 only to register up to P50,000 of their old note series in the Online Registration for NDS Banknote System (https://orbs.bsp.gov.ph). NDS banknotes…

Century Pacific Food nets P2.66B

Listed canned tuna food firm Century Pacific Food, Inc. on Wednesday said its profit surged 37 percent in 2016 on the back of continued revenue growth and the consolidation of its recently acquired coconut subsidiary. Its net income reached P2.66…

EU pledges 6.1-M-euro trade aid to PH

The European Union (EU) has committed some 6.1 million euros to the Philippines for the Trade-Related and Technical Assistance Project Phase Four (TRTA-4), EU Ambassador to the Philippines Franz Jessen said. “We are committed to support the strengthening of Philippines’…

BSP chief keen on inflation up to 4%

The Philippines’ inflation rate is seen to continue its rise towards the upper end of the central bank’s 2 percent to 4 percent target range until the third quarter of the year. ”A closer scrutiny of the monthly inflation path…

S&R coming to Novaliches

The latest branch of the world-class S&R Membership Shopping chain in Metro Manila is opening soon in the fast-growing business district of Novaliches , now divided between Quezon City and Caloocan City. To be called S&R Commonwealth, its spacious building…

MBC poll: Optimism on growth stays

Businesses remain optimistic with the country’s economic growth for this year, according to First Semester Executive Outlook Survey for 2017 of the Makati Business Club (MBC) released on Tuesday. The MBC survey shows that 83 percent of the respondent companies…

Sino traders assured of Duterte support

President Rodrigo Duterte assured Chinese businessmen of his support, so long as they pay the right taxes and help him in his reform initiatives. In his speech during the opening of the 31st Biennial Convention of the Filipino-Chinese Chamber of…

BSP keeps rates, cuts inflation forecasts

Philippine monetary officials on Thursday kept the Bangko Sentral key rates anew, citing the manageable inflation environment as supportive of growth. However, the policy-making Monetary Board (MB) cut the inflation forecasts for 2017 and 2018 due to lower oil prices…
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