News

PH shares close flat, but hang above 7,500

ABS-CBN News
Posted at Dec 17 11:28 PM

Philippine shares trade cautiously Monday, following Wall Street's sell-off last week.  Read more »

Cash remittances up 8.7 pct in October: BSP

ABS-CBN News
Posted at Dec 17 05:21 PM

Cash remittances from overseas Filipinos hit $2.5 billion in October, up 8.7 percent compared to the same month last year, the Bangko Sentral ng Pilipinas said Monday.  Read more »

Macron govt hopes 'yellow vest' protests running out of steam

Adam Plowright and Camille Malpas, Agence France-Presse
Posted at Dec 17 07:07 AM

The French government was on Sunday hoping the sharp drop in "yellow vest" demonstrators signaled an end to the biggest crisis of Emmanuel Macron's presidency, but conceded "mistakes" had been made. Read more »

US Fed to hike again but hints at pause in 2019

Douglas Gillison, Agence France-Presse
Updated as of Dec 16 02:26 PM

The US Federal Reserve is likely to raise interest rates in the coming week but policymakers have begun to signal they may take it a bit slower in 2019.  Read more »

Trade war: Signs of progress in US-China talks

Heather Scott, Agence France-Presse
Updated as of Dec 16 12:39 PM

Though markets are on edge and the arrest of a top Chinese executive threatened to spark a crisis, there are signs the US-China trade war can be resolved without further collateral damage to the global economy. Read more »

BSP expects current account deficit widening in 2019

ABS-CBN News
Posted at Dec 15 12:22 AM

A wider trade gap is seen to push the country's current account deficit to its widest in nearly two decades.  Read more »

Pernia sees robust 2019 due to Build, Build, Build, SEA Games

ABS-CBN News
Posted at Dec 14 11:47 AM

The year 2019 "will not be bereft of challenges" but the resiliency of the Philippine economy in 2018 will likely continue, supported by the administration's “Build, Build, Build” program, Pernia told reporters during a media appreciation dinner held late Thursday. Read more »

PH shares climb back above 7,500

ABS-CBN News
Posted at Dec 13 11:44 PM

With the final market-moving event of the year out of the way, analysts and investors are now looking forward to 2019. Read more »

Duterte won't call for special session to pass 2019 budget: Diokno

ABS-CBN News
Updated as of Dec 13 11:04 PM

MANILA - President Rodrigo Duterte will not call for a special session so that Congress can finish deliberations on the proposed P3.7 trillion national budget for 2019, the budget chief said on Thursday. Read more »

Bangko Sentral keeps interest rates steady after 5 successive hikes

ABS-CBN News
Updated as of Dec 13 04:36 PM

The Monetary Board kept the overnight borrowing rate, which banks use to price their loans at 4.75 percent on its last meeting for the year. Read more »

Diokno on alleged P75-B budget 'insertions': Not my job to pick contractors

ABS-CBN News
Updated as of Dec 12 12:44 PM

Diokno also warned against not passing the 2019 General Appropriations Act before the end of the year, saying a reenactment of this year's expenditure program would "interrupt growth momentum." Read more »

Trump says 'foolish' for Fed to raise rates next week

Reuters
Posted at Dec 12 08:48 AM

Trump has repeatedly railed against Fed chairman Jerome Powell. He told Reuters in August that he was not "thrilled" with the US central bank raising interest rates. Read more »

PH shares snap 4-day losing streak as Asia sees cautious trade

ABS-CBN News
Posted at Dec 11 11:39 PM

Local investors are also keeping an eye on the Brexit delays as Philippine shares gain after four days of losses.  Read more »

Trade deficit widens in October as infra push drives imports

ABS-CBN News
Updated as of Dec 11 12:56 PM

Imports grew 21.4 percent in October to $10.32 billion compared to the same month last year, data from the Philippine Statistics Authority showed. Read more »

PH shares retest 7,300 as Asian markets slump

ABS-CBN News
Posted at Dec 10 11:45 PM

The potential fallout from a Huawei executive's arrest is also roiling on Philippine shares as they track the slump across Asia. Read more »

US Fed on quest for unicorn of monetary policy: the soft landing

Heather Scott, Agence France-Presse
Posted at Dec 08 08:26 AM

The Federal Reserve's job might seem simple: the economy is closing in on the longest period of growth in recorded history, with unemployment at the lowest in nearly 50 years and inflation right on target at two percent. Read more »

CHART: Approved foreign investments rise in Q3

Edson Joseph Guido, ABS-CBN Data Analytics
Posted at Dec 07 04:21 PM

After plummeting year-on-year in 6 of the first 7 quarters of the Duterte administration, approved foreign investments rose in the last 2 quarters. Read more »

CHART: Inflation for bottom 30 percent is at highest in nearly a decade

Edson Joseph Guido, ABS-CBN Data Analytics
Updated as of Dec 07 04:45 PM

Inflation for the bottom 30 percent of households based on income quickened to 8.5 percent in the third quarter. Read more »

Asian markets extend decline ahead of OPEC meeting

ABS-CBN News
Posted at Dec 07 12:15 AM

The Organisation of the Petroleum Exporting Countries' (OPEC) expected production cuts is also affecting local market sentiment, as Philippine shares joined the wide-scale sell-off. Read more »

US business optimism wanes over tariffs, rate hikes: Fed

Heather Scott, Agence France-Presse
Posted at Dec 06 07:49 AM

The Fed's "beige book" survey of the economy showed the impact of President Donald Trump's punitive import tariffs has become more widespread, with cost increases felt by manufacturers, retailers and restaurants, restraining demand. Read more »