The Bangko Sentral ng Pilipinas (BSP) expects inflation at 3.9-4.8 percent this month as rising oil and electricity rates offset falling rice prices and the peso’s continued rise against the dollar.
Despite the possible uptick, the central bank said the rise in consumer prices would likely fall within its target of 3.5-5.5 percent this year from 3.2 percent last year.
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MANILA, Philippines – Remittances will likely grow faster than initially expected this year, the Bangko Sentral ng Pilipinas (BSP) said, as it noted strong demand for Filipino workers abroad and the increasing deployment of professionals.
Central bank Governor Amando M. Tetangco, Jr. told reporters last Friday that the BSP now expected money sent home by Filipinos living and working abroad to grow by 8%, up f
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MANILA, Philippines – The government has so far sold $416 million worth of Fixed Rate Multicurrency Retail Treasury Bonds or the so-called OFW bonds as of yesterday.
The amount is $84 million short of completing the government’s target to issue $500 million worth of the bonds, intended mainly for overseas Filipino workers (OFWs).
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MANILA, Philippines – Tax collection efforts have to be improved by the Philippines if the country is to grow at the same pace as its Southeast Asian peers, an International Monetary Fund (IMF) official yesterday said.
It was a sentiment shared by a visiting team of London-based Fitch Ratings, a Finance official said separately.
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MANILA, Philippines – The International Monetary Fund (IMF) upgraded anew the Philippines’ economic outlook but the country is still expected to be the laggard in terms of economic growth among Southeast Asian countries this year.
In its latest World Economic Outlook, the IMF said the country’s gross domestic product (GDP) would expand by 3.6 percent this year instead of the previous growth forecast of 3.
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MANILA, Philippines – Cebu Air Inc. said Tuesday it would purchase an additional 7 Airbus A320s, bringing to 22 its pending orders from European manufacturer Airbus, a unit of EADS.
Company chairman Lance Gokongwei told reporters the carrier would spend $1.4 billion over 5 years on its aircraft purchases, most of which have been previously disclosed.
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MANILA, Philippines – The historic move of China and Taiwan to forge an economic partnership poses a serious threat to the country’s economy, officials warned yesterday.
National Economic and Development Authority (NEDA) Director Dennis Arroyo briefed President Arroyo and the Cabinet on the implications of the move of China and Taiwan to sign in June an Economic Cooperation Framework Agreement (ECFA) that s
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MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) reported yesterday that the country’s balance of payments (BOP) posted a surplus of $255 million in March, a complete reversal of the $472-million deficit registered in the same month last year.
BSP Governor Amando M. Tetangco Jr. attributed the country’s healthy BOP position last month to strong remittances of overseas Filipino workers (OFW), r
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MANILA, Philippines – The government is scheduled to auction on April 21 some $500 million in retail treasury bonds (RTBs) intended for overseas Filipino workers (OFWs).
In a telephone interview during the weekend, National Treasurer Roberto Tan said that after conducting a series of successful briefings in different parts of the globe, he is confident the government would be able to sell the whole amount of
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MANILA, Philippines – Money sent home by overseas Filipinos grew 7.1% in February, the Bangko Sentral ng Pilipinas (BSP) reported on Friday.
Remittances for the month reached $1.4 billion, bringing the total for the first 2 months of 2010 to $2.8 billion, up 7.8% from the prior year.
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Ahron Villena: Ahron Villena (born Roche Ahron Villena in 1987 in Brgy. San Jose Sico, Batangas City, Province of Batangas, Philippines) is a Filipino actor. He is currentl...
Claudine Barretto:
Claudine Margaret Castelo Barretto-Santiago (born July 20, 1979), popularly known as Claudine Barretto, is a film and television actress in the Philippines....
