May 20, 2022
IMF’s Georgieva says finance leaders must prepare for more inflation shocks
KOENIGSWINTER, Germany — International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday that global finance leaders may need to become more comfortable with fighting multiple bouts of inflationary pressures. Ms. Georgieva told Reuters that it was getting harder for central banks to bring down inflation without causing recessions, due to mounting pressures on […]
May 20, 2022
TikTok plans big push into gaming, conducting tests in Vietnam – sources
HONG KONG/HANOI — TikTok has been conducting tests so users can play games on its video-sharing app in Vietnam, part of plans for a major push into gaming, four people familiar with the matter said. Featuring games on its platform would boost advertising revenue as well as the amount of time users spend on the […]
May 20, 2022
BoP swings to deficit in April
BW FILE PHOTO By Luz Wendy T. Noble, Reporter The country’s balance of payment (BoP) posted a deficit in April as the government continued to pay for its foreign debt obligations, and as the trade deficit widened due to the rising value of imports. Data released by the Bangko Sentral ng Pilipinas late Thursday showed […]
May 20, 2022
Bespoke and boutique: A new kind of home for the elite
When Jardin Wong, Jillian Sze, and Miguel Tan approached WTA Architecture and Design Studio with their idea for their first project as real estate developers, they came with a story about independence. Seeking to cast a new shadow over the hyper-competitive Philippine property scene, and make a mark outside their respective family businesses, the three […]
May 19, 2022
BSP hikes rates for 1st time since 2018
A vendor arranges vegetables at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE Bangko Sentral ng Pilipinas (BSP) raised its key interest rate for the first time since 2018 to tame rising inflation. The Monetary Board on Thursday increased the benchmark rate by 25 basis points (bps) to 2.25%, as expected […]
May 19, 2022
BSP hikes rates for 1st time since 2018
A vendor arranges vegetables at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE Bangko Sentral ng Pilipinas (BSP) raised its key interest rate for the first time since 2018 to tame rising inflation. The Monetary Board on Thursday increased the benchmark rate by 25 basis points (bps) to 2.25%, as expected […]
May 19, 2022
BSP hikes rates for 1st time since 2018
A vendor arranges vegetables at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE Bangko Sentral ng Pilipinas (BSP) raised its key interest rate for the first time since 2018 to tame rising inflation. The Monetary Board on Thursday increased the benchmark rate by 25 basis points (bps) to 2.25%, as expected […]
May 19, 2022
NPL ratio eases to three-month low
BW FILE PHOTO SOURED LOANS held by Philippine banks declined in March, bringing the nonperforming loan (NPL) ratio to its lowest in three months amid the further reopening of the economy. Data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed the banking industry’s gross NPL ratio slipped to 4.08% in March from […]
May 19, 2022
NPL ratio eases to three-month low
BW FILE PHOTO SOURED LOANS held by Philippine banks declined in March, bringing the nonperforming loan (NPL) ratio to its lowest in three months amid the further reopening of the economy. Data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday showed the banking industry’s gross NPL ratio slipped to 4.08% in March from […]
May 19, 2022
Credit raters awaiting incoming administration’s fiscal consolidation plan
A view of residential condominium buildings in Mandaluyong City, Metro Manila, Philippines, Aug. 22, 2016. — REUTERS By Luz Wendy T. Noble, Reporterand Tobias Jared Tomas CREDIT RATING agencies will keep a close eye on how the incoming Marcos administration will manage the country’s mounting debt in assessing the Philippines’ sovereign rating. Moody’s Investors Service […]
May 19, 2022
Credit raters awaiting incoming administration’s fiscal consolidation plan
A view of residential condominium buildings in Mandaluyong City, Metro Manila, Philippines, Aug. 22, 2016. — REUTERS By Luz Wendy T. Noble, Reporterand Tobias Jared Tomas CREDIT RATING agencies will keep a close eye on how the incoming Marcos administration will manage the country’s mounting debt in assessing the Philippines’ sovereign rating. Moody’s Investors Service […]
May 19, 2022
Central banks’ hopes for supply chain miracle may be dashed by China, Ukraine
REUTERS WASHINGTON — Global central banks hoping that high inflation would ease through improving global supply chains saw little relief through April as new coronavirus lockdowns in China and the war in Ukraine lengthened delivery times and drove costs higher, new analyses from the New York Federal Reserve and others indicate. A global supply chain […]