Infrastructure spending sharply lower in October on month-on-month basis

INFRASTRUCTURE spending fell 38.3% month on month in October to P61.2 billion, according to the Department of Budget and Management (DBM). The DBM said on Tuesday that on a year-on-year basis, expenditure on infrastructure and other capital outlays rose 0.5%. The DBM said in October, disbursements fell for the Armed Forces of the Philippines Modernization […]

Manhattan apartment rents inch up after 3 months of decline

MANHATTAN apartment rents climbed slightly in November after three months of declines. But the market isn’t returning to the hypercompetitive heights of the summer. The median rent rose 2.1% from October to $4,095, the third-highest level ever recorded by appraiser Miller Samuel, Inc. and brokerage Douglas Elliman Real Estate. Yet there were also indications that […]

Peso rises on oil’s decline

THE PESO strengthened further against the dollar on Wednesday on lower global oil prices and better Philippine employment and factory data. The local currency ended at P55.45 against the greenback on Wednesday, surging by 52.5 centavos from P55.975-a-dollar close on Tuesday, based on data from the Bankers Association of the Philippines. The peso opened stronger […]