Gov’t cuts economic growth forecast for 2023 to 6-7%
The Philippine peso is also expected to weaken in 2023 to the 55 to 59 against the US dollar, coming from the 54 to 55 range seen in this year.
Economic Affairs
Big firms hold back on investment plans for 2023: survey
Reportedly, local businesses are struggling to absorb the impact from a series of rate hikes.
Yoon likens local truckers strike to N. Korea’s nuclear threats
The vicious cycle will repeat if government succumbs to illegal demands, he tells aides.
Philippines: Survey numbers show hunger worse among those sinking deeper in poverty
While 30 percent of people say their lives got better, the latest Social Weather Station survey reveals that at least 29 per cent are being hit hardest by accelerating inflation.
Digital yuan to spread its wings
Hong Kong, with its inherent advantages, is set to become a vibrant center for use of the digitual yuan in international trade.
‘Digital rupiah’ won’t cut out banks, fintech, BI claims
The bank announced it would not offer interest rates on the so-called “digital rupiah” to avoid creating “head-to-head” competition with financial products created by…
PH CEOs turn optimistic about 2023 prospects
A good number of the largest corporations in the country has posted profit numbers last seen before the pandemic struck.
China still Thailand’s largest market, but trade value slumping
An expert offered that the contraction is inevitable as China keeps locking down its cities repeatedly in line with its zero-Covid policy.
Timor Leste opens new port in largest ever foreign investment
The $490 million port at Tibar Bay near the capital Dili is expected to expand trade for Timor Leste, one of the poorest countries in the region.
Rice export boom seen in Cambodia following EU court victory
A marked uptick in Indica rice exports to European markets is expected after Cambodia won a challenge against the European Commission’s (EC) 2019 decision to remove tariff…