News

Philippines to reclaim growth momentum with spending 'catch-up': finance chief

ABS-CBN News
Posted at May 24 01:25 PM

The "carefully crafted and bold" program aims to keep full year growth above 6 percent, said Dominguez, the head of President Rodrigo Duterte's economic team. Read more »

3 in 10 Filipinos say personal quality of life improved in 2018: SWS

ABS-CBN News
Updated as of May 24 05:49 PM

Three in 10 Filipinos believed their personal quality of life improved in the past 12 months, while there were fewer who said they felt declines, a a Social Weather Stations survey released Friday showed. Read more »

PH shares decline as trade jitters persist in Asia

ABS-CBN News
Posted at May 23 11:47 PM

Philippine shares are in the red as more suppliers cut ties with embattled Chinese tech firm Huawei. Read more »

IMF warns US-China trade war will 'jeopardize' 2019 global growth

Agence France-Presse
Posted at May 23 10:06 PM

The IMF warned Thursday that the escalating US-China trade war will jeopardize 2019 global growth, undermining confidence and raising prices for consumers. Read more »

US envoy ready to work with newly-elected PH lawmakers

Michael Joe Delizo, ABS-CBN News
Updated as of May 24 12:00 PM

MANILA – The United States envoy to the Philippines on Thursday said Washington is ready to work with Manila’s newly-elected lawmakers, a roster dominated by President Rodrigo Duterte's allies seen to consolidate his power and push for his legislative priorities in Congress. Read more »

BSP cuts reserve requirement for thrift, savings, coop banks

ABS-CBN News
Updated as of May 23 08:00 PM

The RRR cuts for small banks came after the BSP earlier announced a phased 200-basis point reduction in the RRR for big banks and a 25-basis point cut in the benchmark lending rate. Read more »

Fed's patience on interest rates to last 'for some time'

Howard Schneider and Jason Lange, Reuters
Posted at May 23 08:14 AM

US Federal Reserve officials at their last meeting agreed that their current patient approach to setting monetary policy could remain in place "for some time," a further sign policymakers see little need to change rates in either direction. Read more »

PH shares continue rise for 4th day

ABS-CBN News
Posted at May 22 11:41 PM

Philippine shares defied extending gains despite escalating trade tensions. Read more »

Chinese surveillance giants' stocks dive on US blacklist report

Agence France-Presse
Posted at May 22 10:04 PM

Shares in two top Chinese surveillance firms plunged Wednesday following reports Washington is considering banning them from buying US components, just as the blacklisting of telecoms giant Huawei fanned their escalating tech war.   Read more »

UAE offers golden visas to investors, 'exceptional talents'

Agence France-Presse
Posted at May 22 07:28 AM

The United Arab Emirates said Tuesday it has launched a permanent residency scheme to attract wealthy individuals and highly skilled workers to the oil-rich Gulf country. Read more »

PH shares back to 7,700 amid temporary reprieve for Huawei

ABS-CBN News
Posted at May 22 01:21 AM

The temporary reprieve for Chinese telco giant Huawei seemed to give Asian shares a lift as most markets, including the Philippines, end the day higher.  Read more »

OECD cuts global growth forecast as US-China tensions rise

Agence France-Presse
Posted at May 21 06:31 PM

The OECD on Tuesday cut its forecast for the world economy, urging governments to resolve their trade disputes as the latest flare-up in the China-US trade war threatens to crimp global growth. Read more »

US business debt a 'moderate' economic risk: Fed's Powell

Agence France-Presse
Posted at May 21 08:51 AM

With corporate debts reaching historic highs relative to the size of the economy, public comment has run the gamut, according to Powell, either warning of grave danger or waiving off such threats as "nothing to worry about." Read more »

PH shares jump to 7,600 level supported by late afternoon rally

ABS-CBN News
Posted at May 20 11:27 PM

 An analyst believes fundamentals, not monetary adjustments, will be the main market drivers in the long-term.  Read more »

PH posts balance of payments surplus in April

ABS-CBN News
Posted at May 20 03:19 PM

The Philippines posted a balance of payments surplus of $467 million in April, reversing a $270 million deficit posted in the same month last year.  Read more »

In surprise, Japan’s economy grows in first quarter

Ben Dooley, The New York Times
Posted at May 20 12:15 PM

Japan’s economy, the third largest in the world, behind the United States’ and China’s, grew by an annualized rate of 2.1 percent in the first three months of this year. Read more »

China says economic impact of US trade tensions 'controllable'

Reuters
Posted at May 17 02:54 PM

The National Development and Reform Commission (NDRC) gave its assessment during a press conference held in Beijing. Read more »

Global stocks mostly rise after solid US data, earnings

Agence France-Presse
Posted at May 17 08:18 AM

Investors took solace in reports from Wednesday that the Trump administration would hold off for 6 months on imposing tariffs on auto imports. Read more »

PH shares fall anew

ABS-CBN News
Posted at May 16 10:55 PM

Philippine shares fell to 7,400 as global headwinds and a lack of good catalysts weigh on market sentiment.  Read more »

Bangko Sentral cuts reserve requirement for banks

ABS-CBN News
Updated as of May 16 11:46 PM

A 100-basis point cut will take effect on May 31, followed by two other cuts of 50 basis points each on June 28 and July 26. Read more »