Bangko Sentral ng Pilipinas (BSP) is confident of within-target inflation
The Bangko Sentral ng Pilipinas (BSP) is confident of within-target inflation this year amid any unexpected price spike in the remaining months of the year as inflation continue to decelerate. This after rate of price increases further slowed to 11-month low of 2.8 percent last October from the previous month’s 3.5 percent. Year-ago inflation rate [...]
Germany has criticized the United States’ decision
Germany has criticized the United States’ decision to pump an additional 600 billion euros into the economy to stimulate growth as a breach of agreement by G-20 nations to refrain from further driving up their national budget deficits and debts. “The United States too had explicitly committed at the summit of G-20 nations in Toronto, [...]
The Philippines foreign reserves breached the revised US$ 55 billion projection
The Philippines foreign reserves breached the revised US$ 55 billion projection of the central bank after it rose to US$ 56.8 billion in end-October 2010. Data released by the Bangko Sentral ng Pilipinas (BSP) Friday showed that the latest gross international reserves (GIR) jumped by 5.6 percent or US$ 3 billion from the previous month’s [...]
Indonesia would raise development issues at the G-20 meeting
Indonesia would raise development issues at the G-20 meeting on November 11-12 in Seoul to represent the interests of developing nations outside the grouping, a trade official said. “President Susilo Bambang Yudhoyono will be a keynote speaker at the G-20 meeting and raise the issue of development. This is to show that Indonesia really is [...]
Consolidated net income of Aboitiz Equity Ventures, Inc. (AEV)
Consolidated net income of Aboitiz Equity Ventures, Inc. (AEV), one of the country’s biggest conglomerates, soared to P16.8 billion in the first nine months, up 187 percent, with the power business contributing 83 percent of the company’s net income. AEV disclosed to the Philippine Stock Exchange that for the third quarter alone, its consolidated net [...]
A high-profile funds reporting case
A high-profile funds reporting case involving former Democratic Party of Japan leader Ichiro Ozawa will go to the Tokyo High Court. This, after lawyers serving as prosecutors for the case, which has major political implications, said Wednesday they have decided to appeal a lower court verdict clearing Ozawa of all charges. The April 26 ruling [...]
Securities firms in South Korea
Securities firms in South Korea saw their earnings for the first year 2011 drop 19.2 percent from a year earlier due to stock-related loss and reduction in commission profits, the financial watchdog said Wednesday. The combined net profit of 62 local and foreign securities firms operating in South Korea came in at 2.27 trillion won [...]
Impact on monetary policy of the rising interest rate differentials
Barclays Capital does not see any increase in the Bangko Sentral ng Pilipinas (BSP)rate until the second half of 2010 due to the the benign inflation environment in the country. Barclays Capital regional economist Prakriti Sofat, in a report released Friday, said the central bank was worried about the impact on monetary policy of the [...]
Australia to study easing non-tariff barriers to trade
President Benigno S. Aquino III called on Australia to study easing non-tariff barriers to trade such as the phyto-sanitary standards for the importation of tropical fruits. The Chief Executive issued the call to Australian Prime Minister Julia Gillard at the ASEAN-Australia Summit held at the National Convention Center here. The President noted that the implementation [...]
Withholding tax on foreign money invested in the country’s state bonds
The chief of South Korea’s central bank on Wednesday stressed the need to draw up policy options to ease excessive cross-border capital flows so as to sustain stable growth. “Sound macroeconomic policies are the first line of defense in reducing countries’ vulnerability to external shocks,” Bank of Korea (BOK) Gov. Kim Choong-soo, said in a [...]