Philippines Exports Sugar to USA
By Lilybeth G. Ison The Sugar Regulatory Administration (SRA) said Friday it will deliver the second shipment of 36,899.35 metric tons raw value (MTRV) sugar under the United States Tariff Quota Scheme by mid-August of this year. The Philippines was given an additional volume of 72,373.65 MTRV for quota year 2011-2012 above the traditional quota [...]
Inflation Rate of the Philippines
By Joann Santiago The Bangko Sentral ng Pilipinas (BSP) expects drop in oil prices that might o result in slower inflation rate this month, but cautions that hike in utility rates and fare increases might push inflation higher. BSP Governor Amando Tetangco Jr., in a text message to reporters Friday, projects inflation to stay within [...]
Inflation Expectation in the Philippines
Noting the continued rise in oil prices and its impact on inflation expectations, the policy-making Monetary Board (MB) implemented another 25 basis points hike in the Bangko Sentral ng Pilipinas’ (BSP) policy rates Thursday. The latest MB decision, the second in a row since last March, brought to 4.50 percent BSP’s overnight borrowing rate and [...]
Inflation Rate in the Philippines 2011
The Bangko Sentral ng Pilipinas (BSP) said that although the scope for keeping policy rates has narrowed due to continued climb of the inflation rate, there is still no need to hike rates. This as the government reported the rise in the inflation rate to 4.3 percent last February from month-ago’s 3.5 percent on account [...]
The Philippine Economy is Likely to Grow 7 Percent
The Philippine economy is likely to grow 7 percent this year mostly because of the government’s plan to hike infrastructure spending, according to a senior economist at the University of Asia and the Pacific (UA&P). Bernardo M. Villegas, UA&P economist and educator, said the projected 7 percent growth in 2011 “will be made possible by [...]
Conversion Rate of Phil Peso vs US Dollar Money
The Hongkong and Shanghai Bank Corp. (HSBC) on Tuesday said remittances, the business process outsourcing (BPO) sector as well as fundamentals would continue to power the local unit and enable it to end at 41 level before end-2010. The HSBC earlier projected the local unit to end at 43.50 to a dollar this year but [...]