MANILA – Just when they thought that they were saddled enough by the effects of the economic crisis, a number of Philippine firms had to endure the impact of natural calamities on their day-to-day operations.
Utility companies, banks, airlines, and hotels, among many others, bore the brunt of tropical storm “Ondoy” (international code name Ketsana) and typhoon “Pepeng” (international code name Parma)
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MANILA – Local consumer confidence improved in the 3 months ending September as the economy begins to show signs of recovery from the global crisis.
The overall consumer confidence index (CI) for the third quarter increased slightly to -31.9% from -34.2% recorded in the previous quarter, data from the central bank’s Consumer Expectations Survey (CES) showed. From July to September 2008, the CI was at
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MANILA – After posting its lowest annual contraction since November 2008, Philippine merchandise exports slipped by more than a quarter in July.
Data from the National Statistics Office showed that export earnings fell 25.4% to $3.312 billion in July from $4.437 billion recorded in the same period last year. Compared to June’s export earnings of $3.406 billion, the latest figure is lower by 2.8%.
In Ju
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The International Monetary Fund (IMF) has warned member-countries of the dangers of pulling the plug too soon on stimulus packages that the Philippines, for instance, adopted in response to the global economic downturn.
The warning aired by IMF managing director Dominique Strauss-Kahn in Berlin on Friday was especially significant for the Philippines, whose proposed capital outlay for 2010 was reduced by P15 billi
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MANILA – The country’s debt stock is expected to increase by up to P234 billion next year as the government eyes more borrowings to help boost economic output.
According to the Finance Department, the Philippines’ outstanding debt may hit P4.723 trillion or 56.7% of gross domestic product (GDP) in 2010 from the projected P4.489 trillion or 57.6% of GDP this year.
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MANILA – Philippine imports fell 22.8% in June from a year earlier, the slowest decline since October, the National Statistics Office (NSO) said on Tuesday, as economic activity continued to gain pace.
Imports in June at $4.11 billion were also the highest for a single month since October.
However, purchases of electronics parts, a key component in the country’s export sector, were down 20.3% in June f
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MANILA – All borrowings under President Arroyo’s term–that racked up the country’s outstanding debt to a whopping P4.2 trillion as of 2008 from only P2.2 trillion in 2000–were necessary, her economic managers argue, amid accusations the President was responsible for the country’s deepening financial woes.
The question now is: Where did all the debt go?
Finance Secretary Margarit
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MANILA – A better partnership between the government and the private sector is key to improving education in any developing country, a World Bank report said.
In a study entitled “The Role and Impact of Public-Private Partnerships in Education,” the multilateral lender said government initiatives aimed towards accessible, high-quality education can be enhanced with the help of programs and resour
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MANILA – The Philippines will have to sell assets to keep its budget deficit target this year, Finance Secretary Margarito Teves said, after the fiscal gap ballooned in the first 7 months.
The country’s budget deficit hit P34.6 billion in July, bringing the fiscal shortfall for the first 7 months of the year to P188 billion, up 462.5% from last year’s P33.4 billion. The July figure is higher than
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MANILA – Along with the world’s biggest economies, the Philippines has been showing “signs of recovery” from the global crisis, the National Statistical Coordination Board (NSCB) said on Wednesday.
According to NSCB Secretary-General Romulo Virola, a number of the country’s major economic indicators have started to show signs of recovery as early as February this year.
He said the pac
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Manny Pacquiao: Emmanuel Dapidran Pacquiao (IPA: /'pækjaʊ/; born December 17, 1978), known as Manny "Pac-Man" Pacquiao is a professional Filipino boxer. He is the former WBC li...
Rhian Ramos: Rhian Denise Ramos (born on October 3, 1990 in Makati City, Philippines) is an actress and commercial model of Welsh-Filipino descent.
Rhian Denise Ramos Howe...
