The Philippines placed second to the last among 14 Asia-Pacific economies ranked by UK-based Oxford Economics on attractiveness to foreign direct investment (FDI) due to its poor infrastructure and competitiveness rankings. Economics lead Asia economist Sian Fenner...
A standardized quick reaction—or QR— code system in the local financial system will help accelerate the Philippines’ transition to a more “cash light” economy where payments between merchants and customers will be faster, safer and more efficient. Thus said the Bangko...
Engagement and collaboration with Filipinos with no bank accounts are key elements in financial inclusion which would bring the benefits of economic development down to difficult-to-reach sectors. Thus said Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno as...
Villar-owned supermarket chain AllDay Marts Inc. slashed the offer price for its maiden share sale, giving investors a discount that could push up demand for the offer. In a notice to the stock exchange on Wednesday, the company set the final offer price at P0.60 per...
External trade jumped by a fourth to $16.5 billion in August not only due to base effects but also to recovering shipments as the domestic and global economies rebounded from their pandemic-induced slump. The Philippine Statistics Authority’s (PSA) latest preliminary...
A United States-based financial technology (fintech) is taking advantage of the strong remittance market in the Philippines as it launched a cashless digital remittance service from the US to the Philippines. In a virtual press briefing Wednesday, Pomelo founder and...
Jollibee Foods Corp. (JFC) continues to expand outside the Philippines as it targets economies that have reopened sooner than the Philippines. JFC has been expanding in North America, other parts of the US, and many countries in Europe as part of its goal to become...
The International Monetary Fund (IMF) revised its global economic growth projection to 5.9 percent for 2021, down by 0.1 percentage point, according to a report issued on Tuesday. Forecast for 2022 was kept stable at 4.9 percent compared to the previous update...
The central bank approved more foreign borrowings by the government in the third quarter of 2021 by nearly 20 percent higher than in the same period last year to help finance economic recovery as the COVID-19 pandemic continues. In a statement, the Bangko Sentral ng...
AirAsia has achieved unicorn status after its digital business grew to over USD 1 billion under two years during the pandemic. While the pandemic wreaked havoc on the aviation industry, the company fast-tracked its non-airline verticals and transformed itself into one...
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