Philippine Economic Briefing schedules
十二月 1, 2009
对不起，此内容只适用于English。
Peso – Dollar exchange rate in 2008
十二月 27, 2008
Past performance is definitely not a guarantee of future results.
In 2007, the Philippine Peso was Asia’s best performing currency, up 18.8% against the US Dollar, closing at P41.28 at the end of the year.
In 2008, this situation has reversed. The peso is now one of the worst performing currencies in Asia, closing at P47.52 to the dollar in December 24, the last trading day of the year. This is a 15% decline from the P41.28 level at the beginning of 2007.
Philippine economic news and market recap: August 25-29, 2008
九月 1, 2008
Update on the Philippine market and other economic news, for the week ended August 25 to 29, 2008.
Philippine GDP growth slows down to 4.6%
The growth of the country’s gross domestic product (GDP) slowed down in the second quarter of 2008 to 4.6% from 8.3% in the same period last year.The decline was primarily due to a contraction in the industry sector brought about by the contraction of mining and quarrying and also in the services sector which was adversely affected by rising inflation. The gross national product (GNP) also went down from 9.8% in the previous year to 5.5% in the second quarter.
Philippine market news and economic recap: August 4-8, 2008
八月 12, 2008
Update on the Philippine market and other economic news, for the week ended August 4 to 8, 2008.
Philippine inflation rate hits 17-year high of 12.2%
The country’s inflation rate rose to 12.2% in July from 11.4% in the previous month to post its highest rate since December 1991. Food, beverage and tobacco led the groups of commodities with the largest increases, with prices rising by 17.8%. Price increases in fuel, light and water, however, slowed down to 5.5% from 7.6%. The average inflation during the first seven months of the year now stands at 8.3%.
Tax on Google Adsense payment via Western Union
八月 10, 2008
Got my Google Adsense earnings via Western Union last week and like what we reported here last month, they are now charging the Documentary Stamps Tax on all incoming remittances.
The deduction was exactly 0.15% of my payment balance. It’s still not that much — just P1.50 for every P1,000 — but it’s still money I could have spent for myself. Read more
Philippine market news and economic recap: July 28-August 1, 2008
八月 5, 2008
Update on the Philippine market and other economic news, for the week ended July 28 to August 1, 2008.
GMA delivers 8th SONA
President Gloria Macapagal-Arroyo delivered her 8th State of the Nation Address (SONA) on 28 July 2008 and defended that the expanded value added tax law, among others, allowed the Philippines to better weather the impact of food and oil price volatility. Various issues regarding food security, agrarian reform, energy, population control, peace and order, corruption, and the environment were also cited during the SONA. She also announced that telecommunication firms agreed to temporarily cut the cost of text messaging to P0.50.
Philippine market news and economic recap: July 7-11, 2008
七月 14, 2008
Update on the Philippine market and other economic news, for the week ended July 7 to 11, 2008.
Total export earnings up but exports of electronic products decline
The country’s export earnings for the month of May went up by 2.3% to US$4.22 billion from US$4.13 billion in the same period last year. However, exports of electronic products, which accounted for 58.6% of total export earnings in May, decreased by 3.4% to US$2.47 billion from US$2.56 billion in the same period last year. The decline in electronics exports was attributed to the slowdown in the demand for electronic products, especially semiconductors, which recorded a decrease of 7.1%.
Western Union to charge 0.15% tax on remittances
七月 10, 2008
The good news is that the additional 0.15% tax on all incoming overseas remittances was supposed to start May 30, 2008 but, until now, this has not been implemented.
The bad news is that the collection of this tax will start anytime soon.
Last week when I picked up my Google Adsense earnings from Western Union, they told me that the additional Documentary Stamp Tax (DST) tax on remittances will start “sometime this June.”
No more jobs abroad for Filipino nurses?
七月 9, 2008
Planning to take up Nursing so you can earn a lot when you practice the profession outside of the Philippines?
Think again, because if the decreasing demand for Filipino nurses continues, you may not be able to work abroad anymore.
Jeepney and bus fare hike looms as diesel prices rise
七月 6, 2008
More bad news for jeepney and bus drivers and operators and, eventually, the commuters: the price of diesel used mainly by public utility vehicles may further increase to P60 per liter — or even more — and this could ultimately lead to a new fare hike.
Jeepney and bus drivers currently enjoy slightly lower gasoline prices because diesel is being sold to them for P51 to P53 a liter. Premium unleaded gasoline, used by regular car drivers, normally sells for P60 to P62 per liter.
