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Peso weakens to 2-month low after Fed minutes. THE PHILIPPINE peso fell to a two-month low against the dollar on Thursday after markets grew more confident about a patient approach by the US Federal Reserve to further monetary easing, based on the minutes of the Federal Open Market Committee’s (FOMC) September policy meeting.
Top Stories Archives - BusinessWorld Online
5 days ago · Congress leaders vow to pass budget bill on time. LEADERS of the Senate and House of Representatives on Wednesday assured the public that Congress could approve the proposed P6.352-trillion national budget for 2025 on time, despite political realignments and tension inside their backyards.
PHL’s economic freedom improves - BusinessWorld Online
1 day ago · Manila’s score in the freedom to trade internationally category rose to 7.14 from 6.53 in 2021. Its score in regulation slipped to 6.51 from 6.62 in 2021. Among sub-categories, the Philippines had its lowest score at 4.59 in business regulation and the highest score at 8.27 in credit market. Leonardo A. Lanzona, an economics professor at the ...
BSP cuts rates for a 2nd straight meeting - BusinessWorld Online
1 day ago · THE BANGKO SENTRAL ng Pilipinas (BSP) continued its easing cycle with a 25-basis-point (bp) rate cut for a second straight meeting and signaled further cuts ahead. The Monetary Board on Wednesday trimmed the target reverse repurchase (RRP) rate by 25 bps, bringing the key rate to 6% from 6.25%. This was also in line with the expectations of 16 ...
BSP to cut rates by 25 bps — poll - BusinessWorld Online
4 days ago · A BusinessWorld poll conducted last week showed that 16 out of 19 analysts expect the Monetary Board to reduce rates by 25 bps at its policy review meeting on Oct. 16. If realized, this would bring the target reverse repurchase rate to 6% from the current 6.25%. On the other hand, two analysts expect the central bank to cut by 50 bps, while one ...
Oil price shocks could fuel inflation anew - BusinessWorld Online
2 days ago · Fuel retailers raised gasoline prices by P2.65 per liter, diesel by P2.70 per liter and kerosene by P2.60 per liter. “I believe the BSP’s (inflation) forecasts are anchored on a global fuel price of at least $100 per barrel of oil,” Mr. Guinigundo, a former BSP deputy governor, said. “If this critical level is tipped, and tipped long ...
Philippines’ top 1,000 companies post P16.7 trillion in revenues in ...
Jan 8, 2024 · Petron Corp. returned as the largest corporation in the Philippines in 2022, ending Manila Electric Co.’s (Meralco) two-year stint as the country’s top-grossing company. Petron, which last topped the list in 2019, posted P438.87 billion in gross revenue in 2022, which was an 82.1% increase from P240.94 billion the previous year.
Stock Market Archives - BusinessWorld Online
Sep 19, 2024 · PHILIPPINE SHARES ended their four-day rally on Wednesday due to weak data and as investors turned cautious before the release of the August US... PHILIPPINE SHARES closed less than a point higher on Tuesday, with the main index testing the 7,100 level before succumbing to profit taking at market ...
Factory activity at 2-year high in Sept. - BusinessWorld Online
Oct 2, 2024 · PHILIPPINE MANUFACTURING ACTIVITY continued to expand in September, hitting its highest in two years and outperforming its peers in Southeast Asia, S&P Global said in a report. The Philippine Manufacturing Purchasing Managers’ Index (PMI) rose to 53.7 in September, from 51.2 in August. It was the fastest reading since the 53.8 clip in June 2022.
World Bank optimistic on PHL growth - BusinessWorld Online
Sep 13, 2024 · The World Bank expects the country to grow by an average of 5.9% from this year until 2026. It projects Philippine GDP growth at 5.8% in 2024. Economic managers are targeting 6-7% growth this year, and 6.5-7.5% in 2025. Despite the impact of recent typhoons, Mr. Varela said he sees “some persistence in high economic activity” and expects a ...