File photo MANILA - Net foreign direct investments (FDIs) in November 2022 stood at USD793 million, the Bangko Sentral ng Pilipinas (BSP) reported Friday. The central bank said net FDI inflows last November declined by 43.6 percent from USD1.4 billion net inflows in the same month in 2021. "This resulted from the drop in non-residents' net investments in debt instruments and reinvestment of earnings. Meanwhile, net placements of equity capital rose year-on-year for the third consecutive month," the BSP said in a statement. Rizal Commercial Banking Corp. (RCBC) economist Michael Ricafort said the drop in net inflows may be attributed to higher base effects in November 2021, when appetite for investments went back after the onset of the pandemic in 2020. "The slowdown in the net FDI data may also have to do with higher short-term interest rates and the peak in long-term interest rates in the United States/globally/locally around October-November 2022," Ricafort sa
DOLLAR RESERVES. The country's gross international reserves (GIR) are expected to continue getting a boost from structural inflows, such as the remittances from overseas Filipino workers (OFWs), revenues of the business process outsourcing (BPO) sector and tourism receipts. Last January, the country's dollar reserves rose to USD99.72 billion from month-ago's USD96.16 billion but was lower than year-ago's USD107.69 billion. (PNA file photo) MANILA - An economist forecasts continued increase in the country's dollar reserves, which improved to USD99.72 billion last January compared to the previous month's level. Data released by the Bangko Sentral ng Pilipinas (BSP) Tuesday night showed that the January 2023 gross international reserves (GIR) of the country, however, was lower than the USD107.69 billion in the same period in 2022. In a commentary on Wednesday, Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the country's dollar
The most recent Tết holiday witnessed an outstanding performance by Vietnam’s domestic tourism sector, while international tourism had a year of underwhelming figures.