News

Eurozone industry slips into contraction

Agence France-Presse
Posted at Feb 22 05:42 PM

Eurozone manufacturing slipped into contraction in February, as an industrial slump in Germany continued to weigh down on the European economy, a closely watched survey showed Thursday. Read more »

Duterte signs revised Corporation Code

Dharel Placido, ABS-CBN News
Updated as of Feb 21 10:18 PM

President Rodrigo Duterte has signed a law which seeks to update the 38-year-old Corporation Code and make the Philippines an attractive investment destination.   Read more »

Japan manufacturing shrinks as trade war rages

Reuters
Posted at Feb 21 10:09 AM

The survey also showed business confidence in Japan soured for the first time in more than 6 years, highlighting the growing toll that the US-China trade war is inflicting on Asia's export-reliant economies and global manufacturing. Read more »

US economy to see another strong year, recession unlikely: White House

Agence France-Presse
Posted at Feb 20 06:44 AM

The US economy should continue growing this year at the same pace seen in 2018, and there is only a very slim chance of recession, the chief White House economist said Tuesday.   Read more »

Ford pulls out of S. America truck business, closes Brazil plant

Agence France-Presse
Posted at Feb 20 06:25 AM

US automaker Ford said Tuesday it was pulling out of the commercial heavy truck business in South America, closing a plant in Brazil employing 2,800 workers that has been operating for half a century. Read more »

PH shares underperform in Asia amid renewed US-China trade tensions

ABS-CBN News
Posted at Feb 19 11:00 PM

The Philippine Stock Exchange index underperformed in Asia anew, falling to its lowest in six weeks, amid renewed trade tensions between China and the US.  Read more »

BSP to act if liquidity not enough to maintain growth: Guinigundo

Stanley White, Reuters
Posted at Feb 19 09:55 PM

The Philippine central bank will act swiftly if it judges there is not enough liquidity in the financial system to maintain economic momentum, its deputy governor Diwa Guinigundo said on Tuesday. Read more »

Japan's Honda to shut UK car plant, as Brexit looms

Ben Perry and Richard Carter, Agence France-Presse
Posted at Feb 19 09:53 PM

Honda will shut its UK plant with the loss of 3,500 jobs, the Japanese carmaker announced Tuesday as the global auto industry faces "unprecedented changes" and the UK economy hits the skids on Brexit uncertainty. Read more »

PH posts $2.7-B balance of payments surplus in January

ABS-CBN News
Updated as of Feb 19 07:47 PM

This was a reversal of the $531 million BOP deficit recorded in January 2018, the BSP said.  Read more »

Bangko Sentral: 'Landmark' rice tariffs to ease inflation further

ABS-CBN News
Posted at Feb 18 03:42 PM

It is important for state agencies to implement the Rice Tariffication Act quickly since the first quarter is drawing to a close, Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo said. Read more »

Philippine economic growth to lead Asia in 2019: HSBC

ABS-CBN News
Updated as of Feb 18 03:34 PM

Inflation is easing and is likely to settle at less than 4 percent at the end of the year, but growth could be affected by possible oil and food price shocks, said Frederic Neumann, HSBC managing director and co-head of Asian economics research. Read more »

US millennials a popular but elusive target for brands

Luc Olinga, Agence France-Presse
Posted at Feb 17 10:59 AM

American millennials -- the generation of people aged 17-35 -- are a popular target for advertisers and brands, but companies risk missing out by approaching them as one homogenous population.  Read more »

Trump briefed in Florida on 'productive' China trade talks

Agence France-Presse
Posted at Feb 17 09:48 AM

US President Donald Trump said Saturday he was briefed at his Florida resort by negotiators working to reach a trade deal with Beijing after their return from "very productive" meetings with Chinese officials. Read more »

Cash remittance reaches 'all-time high' at $2.8 billion in December, BSP says

ABS-CBN News
Updated as of Feb 15 10:46 PM

The BSP said the bulk of cash remittances for the year came from the United States, Saudi Arabia, United Arab Emirates, Singapore, Japan, United Kingdom, Qatar, Germany, and Hong Kong.  Read more »

PH among nations 'more resilient' to US-China trade war: Moody's

ABS-CBN News
Updated as of Feb 15 10:46 AM

Public spending and consumption are the 2 domestic drivers of the country's gross domestic product (GDP) as compared to Thailand, Malaysia or Singapore, said vice president and senior sovereign risk analyst of Moody’s Investor Service Christian de Guzman. Read more »

US, China seek deal to prevent trade war escalation

Ryan Mcmorrow, Agence France-Presse
Posted at Feb 14 05:52 PM

Trump indicated this week he was open to extending a trade truce beyond March 1 depending on progress in Beijing. He is considering pushing the deadline back an additional 60 days, Bloomberg News reported, citing sources. Read more »

S&P keeps 6.4 percent growth forecast despite lower 2019 inflation outlook

ABS-CBN News
Posted at Feb 14 12:34 PM

Credit ratings firm S&P Global on Thursday said it was keeping its 6.4 percent growth forecast for the Philippines despite lower inflation as the Bangko Sentral's 175 basis point hike in borrowing rates could have a "lagged" effect this year.  Read more »

Japan's economy grew 0.3 pct in fourth quarter of 2018

Agence France-Presse
Posted at Feb 14 09:00 AM

Gross domestic product for the last quarter of 2018 expanded 0.3 percent from the previous quarter, Cabinet Office data showed, after a 0.7 percent contraction in the quarter before.  Read more »

US household debt in 2018 jumps $400 bn

Agence France-Presse
Posted at Feb 13 01:16 AM

Total debt held by US households surged by nearly $400 billion in 2018 to more than $13.5 trillion, marking the sixth straight annual increase, even as home mortgages declined, according to data released Tuesday. Read more »

PH shares underperform Asia but still clings to 8,000

ABS-CBN News
Posted at Feb 12 11:02 PM

Earning reports dragged investor sentiments as the Philippine Stock Exchange index barely clings to 8,000.  Read more »