Business

The gross domestic product (GDP) dipped 0.2 percent in the first quarter as the economy shrank after more than two decades due to the COVID-19 pandemic.

The country’s economic managers are deliberating a P80-billion to P100-billion stimulus package for micro and small businesses to help them cope with the disastrous economic effects of the COVID-19 pandemic, according to Department of Trade and Industry Secretary Ramon Lopez.

The Manila International Airport Authority (MIAA) has incurred over a billion pesos in financial losses due to air travel restrictions arising from the COVID-19 pandemic.

The Philippine Senate is seriously considering providing a “liability shield” for local businesses, on the trail of a similar bill filed in the US Congress that many American businessmen are clamoring when the US economy starts to reopen.

The BSP releases the Enhanced Report on the Philippine Financial System for the Second Semester of 2019.[1] The Report highlights the capability of the Philippine financial system, with banking system at the core, to withstand external vulnerabilities such as the Coronavirus Disease 2019 (COVID-19) pandemic. Existing prudential reforms guided the BSP-supervised financial institutions (BSFIs) to maintain sufficient cushion in times of …

The Monetary Board approved prudential measures to assist the micro-, small- and medium enterprise (MSME) sector carry on with its business during the corona virus disease (COVID-19) crisis, as well as hasten recovery and sustainability of MSME operations in the post-crisis period.  The MSME sector is a vital component of the Philippine economy owing to its capacity to generate employment …

To kick-start the economy when the quarantine gets lifted, government plans to inject more than P30 billion in loans for companies affected by the business disruptions caused by the COVID-19 pandemic.

Global demand for fuel is expected to remain weak for the first half of 2020 and may recover in the second half as economies start to open up after COVID-19 pandemic, according to Moody’s Investors Service.

The Bureau of the Treasury (BTr) plans to borrow P170 billion from the domestic market by issuing government securities.

Oil languished at multi-year lows, with WTI crude close to its weakest level since 2002, as dire warnings about a virus-triggered demand shock overshadowed massive output cuts.