News

Asian firms' confidence sinks to near 3-year low on trade war fears: poll

Gayatri Suroyo, Reuters
Posted at Sep 19 03:40 PM

Representing the six-month outlook of 104 firms, the Thomson Reuters/INSEAD Asian Business Sentiment Index fell to 58 for the July-September quarter, its lowest since the fourth quarter of 2015, from 74 three months before. Read more »

Peso steady as gov't seen defending currency

ABS-CBN News
Posted at Sep 19 10:52 AM

Bangko Sentral ng Pilipinas Governor Nestor Espenilla's announcement that he would take a 2-week long medical leave starting Wednesday did not appear to affect the exchange rate. Read more »

US consumers may bear brunt of Trump's tariffs

Delphine Touitou
Posted at Sep 19 10:18 AM

Shampoo and furniture. Vacuum cleaners, handbags and mobile phones. Half of everything Americans buy from China will by Monday be subject to 10 percent levies, rising to 25 percent about 3 months later. Read more »

PH to be upper-middle income country in 2019, Pernia says

ABS-CBN News
Posted at Sep 18 10:52 PM

The World Bank defines upper-middle income countries as having a per capita income of $3,896 to $12,055.  Read more »

Global trade war is real, finance chief says

ABS-CBN News
Posted at Sep 18 04:32 PM

US President Donald Trump escalated his trade war with China on Monday, announcing $200 billion in tariffs. Read more »

Dissecting Data: Inflation, peso as gov't looks to midterm

ABS-CBN News
Posted at Sep 18 04:18 PM

University of the Philippines economics professor Emmanuel de Dios helps analyze inflation data with Cathy Yang on ANC's Market Edge. Read more »

Peso poised for boost from holiday remittances: BSP

ABS-CBN News
Updated as of Sep 18 03:06 PM

The Bangko Sentral ng Pilipinas is seen supporting the local currency at the P54.28 level, said First Metro Securities analyst Paul Angelo. Read more »

China will hit back at any new US tariffs: ministry

Agence France-Presse
Posted at Sep 17 08:36 PM

China's foreign ministry said Monday it would strike back at the US if Washington moved forward with new tariffs on $200 billion of its exports. Read more »

Ompong may stoke inflation but economic growth 'solid,' says S&P

ABS-CBN News
Posted at Sep 17 10:45 AM

The Philippine economy is still poised to grow 6.5 percent in the next couple of years, S&P Global Ratings economist Vincent Conti said. Read more »

JPMorgan Chase chief: banks healthy 10 years after meltdown

Agence France-Presse
Posted at Sep 17 07:34 AM

Lehman Brothers, a venerable Wall Street investment bank, filed for bankruptcy September 15, 2008 amid a subprime mortgage crisis, setting off a broader market crash that imperiled the global financial system. Read more »

Samsung heir in South Korea's delegation to North: Seoul

Agence France-Presse
Posted at Sep 16 03:11 PM

The heir to the Samsung empire and the leaders of several other South Korean conglomerates will go to Pyongyang this week for an inter-Korean summit, Seoul announced Sunday. Read more »

Dark clouds over rising inflation

Dennis Gasgonia, ABS-CBN News
Posted at Sep 14 04:30 PM

Typhoon Ompong's impact could make it harder for the Duterte administration to fight rising inflation, which hit 6.4% in August 2018, the highest in nearly a decade.  Read more »

China economy shows weakness as investment growth hits new low

Agence France-Presse
Posted at Sep 14 02:55 PM

China's National Bureau of Statistics, which released the new data Friday, said the trade spat has had a limited effect on economic data so far. Read more »

China welcomes US trade talks offer as new tariffs loom

Ryan McMorrow, Agence France-Presse
Posted at Sep 13 05:57 PM

China welcomed on Thursday a US offer to hold fresh trade talks, adding that the two are discussing the details and providing some hope the world's top economies could step back from the brink of an all-out trade war.  Read more »

Duterte economic team targets food in inflation-taming EO

ABS-CBN News
Posted at Sep 13 04:26 PM

The issuance will remove administrative and non-tariff barriers on food imports, and will "zero in" on fish, rice, sugar, meat and vegetables, Socioeconomic Planning Secretary Ernesto Pernia said. Read more »

Record spending by tourists in 2017: US government

Agence France-Presse
Posted at Sep 13 07:11 AM

Spending by tourists visiting the United States inched higher in 2017, setting a new record and accounting for about a tenth of all US exports, the Commerce Department reported Wednesday.   Read more »

Peso touches 54 vs $1 as market monitors Bangko Sentral move

ABS-CBN News
Updated as of Sep 12 10:21 PM

The peso touched an intra-day low of P54.13 against the greenback from Tuesday's close of P53.94, holding at its weakest in nearly 13 years. Read more »

Price hikes on basic goods on hold for at least 3 months: DTI

ABS-CBN News
Updated as of Sep 12 01:18 PM

Manufacturers of canned sardines, canned meats, all kinds of milk, coffee, bottled water, canned meats, detergent and bath soap will not increase for at least 3 months. Read more »

Why higher interest rates may be good for the economy

ABS-CBN News
Updated as of Sep 12 09:03 AM

The Bangko Sentral ng Pilipinas could hike its benchmark rate by as much as 50 more basis points, bringing it to 4.5 percent by year end, which will still be low compared to the early 2000s. Read more »

Tiwala ng mga Pinoy sa ekonomiya ng bansa, bumaba

ABS-CBN News
Posted at Sep 12 02:14 AM

Bumaba ang kumpiyansa ng mga Pilipino sa ekonomiya, ayon sa Consumer Expectations Survey ng Bangko Sentral ng Pilipinas. Read more »