Fitch Solutions Country Risk and Industry Research expects the Philippines to grow by 6.6% this year and by 6.2% in 2023. — PHILIPPINE STAR/ MICHAEL VARCAS PHILIPPINE economic growth is expected to slow in 2023, amid higher interest rates. “We expect GDP (gross domestic product) growth in the Philippines to come in at 6.6% in […]
There is little value in developing vaccines that target specific coronavirus variants, according to Bruce Mungall, Asia area medical director of vaccines and infectious diseases at AstraZeneca, a multinational pharmaceutical company. “In terms of whether there’s value in chasing a new updated vaccine for a specific variant, I think there’s very limited incremental value in […]
The Philippine central bank said on Friday it expects the country’s current account (C/A) balance to register wider deficits in 2022 and 2023 than previously projected, taking into account the challenges facing the global economy. The Bangko Sentral ng Pilipinas (BSP) has revised its balance of payments (BoP) projections, with the current account deficit now […]
GLOBE TELECOM, Inc. on Monday said it expects a pre-tax gain of around P10.5 billion from its current data center. The company also announced that it recently sealed its data center joint venture partnership with ST Telemedia Global Data Centres (STT GDC) and Ayala Corp. (AC). “Globe will recognize a pre-tax gain of around P10.5 […]
HONG KONG, Mar 30, 2022 – (ACN Newswire via SEAPRWire.com) – ESPRIT HOLDINGS LIMITED (the “Company”, together with its subsidiaries, “ESPRIT” or the “Group”; HKEx: 00330) has announced its audited financial annual results for the year ended 31 December 2021 (the “Current Year”), highlighted by a significant increase in both revenue and profit attributable to […]
MANILA – The Philippine central bank on Friday released revised projections for the current account and balance of payments this year and for 2022, reflecting it said the global economy’s recovery as well as lingering pandemic-related risks. The Bangko Sentral ng Pilipinas (BSP) now expects the country’s current account this year to post a deficit of $4 […]
TO STOP the proliferation of fake vaccination cards and to adhere to the international vaccination certificate standards set by the World Health Organization (WHO), the Department of Information and Communications Technology’s (DICT) is set to launch its “VaxCertPH” nationwide. VaxCertPH is the portal and mobile app for issuing vaccination certificates to fully vaccinated citizens in […]
THE CURRENT account deficit is likely to widen starting in 2022, pressing home the need for reforms to attract more foreign direct investment (FDI) rather than more transitory forms of inflows, Fitch Solutions Country Risk and Industry Research said. “Policymakers will have to manage the economy’s external financing needs over the long term, with a […]
CONSUMER-INTEREST group Laban Konsyumer, Inc. (LKI) said Wednesday that the Energy Regulatory Commission (ERC) needs to dismiss the National Power Corp.’s (Napocor) applications to raise the universal charge for missionary electrification (UCME), and roll back current charges as well. The UCME is collected from all on-grid electricity end-users, as authorized by the Electric Power Industry […]
AROUND 80 million liters of water per day will be added to the current water production of the Metropolitan Cebu Water District (MCWD) once desalination plants in Metro Cebu will be completed in 2022. MCWD aims to close the gap between the demand and supply of water among consumers in the coming years. MCWD chairman […]
The Philippine central bank raised its balance of payment (BoP) projection for this year on expectations of an improved economic landscape here and overseas. It now expects the payment position to post a $7.1 billion surplus by year-end, which is lower than the $16-billion surplus last year but higher than the $6.2-billion surplus projection made […]
The country’s current account swung to a $13 billion surplus last year, the highest since at least 2005. Data released by the Bangko Sentral ng Pilipinas (BSP) on Friday showed the current account posted a surplus of $12.979 billion, which is equivalent to 3.6% of the country’s gross domestic product (GDP). This is a turnaround […]