June 23, 2018, 2:29 am
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1 Philippine Peso = 0.06897 UAE Dirham
1 Philippine Peso = 2.04526 Albanian Lek
1 Philippine Peso = 0.03404 Neth Antilles Guilder
1 Philippine Peso = 0.52113 Argentine Peso
1 Philippine Peso = 0.02544 Australian Dollar
1 Philippine Peso = 0.03343 Aruba Florin
1 Philippine Peso = 0.03756 Barbados Dollar
1 Philippine Peso = 1.57728 Bangladesh Taka
1 Philippine Peso = 0.03184 Bulgarian Lev
1 Philippine Peso = 0.00709 Bahraini Dinar
1 Philippine Peso = 32.88225 Burundi Franc
1 Philippine Peso = 0.01878 Bermuda Dollar
1 Philippine Peso = 0.02522 Brunei Dollar
1 Philippine Peso = 0.12883 Bolivian Boliviano
1 Philippine Peso = 0.07009 Brazilian Real
1 Philippine Peso = 0.01878 Bahamian Dollar
1 Philippine Peso = 1.277 Bhutan Ngultrum
1 Philippine Peso = 0.19573 Botswana Pula
1 Philippine Peso = 375.96244 Belarus Ruble
1 Philippine Peso = 0.03752 Belize Dollar
1 Philippine Peso = 0.02494 Canadian Dollar
1 Philippine Peso = 0.01868 Swiss Franc
1 Philippine Peso = 12.01146 Chilean Peso
1 Philippine Peso = 0.12169 Chinese Yuan
1 Philippine Peso = 54.86948 Colombian Peso
1 Philippine Peso = 10.59718 Costa Rica Colon
1 Philippine Peso = 0.01878 Cuban Peso
1 Philippine Peso = 1.78854 Cape Verde Escudo
1 Philippine Peso = 0.41869 Czech Koruna
1 Philippine Peso = 3.33333 Djibouti Franc
1 Philippine Peso = 0.12088 Danish Krone
1 Philippine Peso = 0.93052 Dominican Peso
1 Philippine Peso = 2.20053 Algerian Dinar
1 Philippine Peso = 0.25367 Estonian Kroon
1 Philippine Peso = 0.33502 Egyptian Pound
1 Philippine Peso = 0.51117 Ethiopian Birr
1 Philippine Peso = 0.01621 Euro
1 Philippine Peso = 0.03897 Fiji Dollar
1 Philippine Peso = 0.01426 Falkland Islands Pound
1 Philippine Peso = 0.01425 British Pound
1 Philippine Peso = 0.08833 Ghanaian Cedi
1 Philippine Peso = 0.87962 Gambian Dalasi
1 Philippine Peso = 169.05164 Guinea Franc
1 Philippine Peso = 0.14052 Guatemala Quetzal
1 Philippine Peso = 3.88526 Guyana Dollar
1 Philippine Peso = 0.14739 Hong Kong Dollar
1 Philippine Peso = 0.44866 Honduras Lempira
1 Philippine Peso = 0.1197 Croatian Kuna
1 Philippine Peso = 1.23812 Haiti Gourde
1 Philippine Peso = 5.22103 Hungarian Forint
1 Philippine Peso = 261.46479 Indonesian Rupiah
1 Philippine Peso = 0.06819 Israeli Shekel
1 Philippine Peso = 1.27817 Indian Rupee
1 Philippine Peso = 22.23474 Iraqi Dinar
1 Philippine Peso = 796.99531 Iran Rial
1 Philippine Peso = 2.05333 Iceland Krona
1 Philippine Peso = 2.4507 Jamaican Dollar
1 Philippine Peso = 0.01331 Jordanian Dinar
1 Philippine Peso = 2.06607 Japanese Yen
1 Philippine Peso = 1.89577 Kenyan Shilling
1 Philippine Peso = 1.28255 Kyrgyzstan Som
1 Philippine Peso = 75.84601 Cambodia Riel
1 Philippine Peso = 7.92488 Comoros Franc
1 Philippine Peso = 16.90141 North Korean Won
1 Philippine Peso = 20.8492 Korean Won
1 Philippine Peso = 0.00568 Kuwaiti Dinar
1 Philippine Peso = 0.0154 Cayman Islands Dollar
1 Philippine Peso = 6.40488 Kazakhstan Tenge
1 Philippine Peso = 157.33333 Lao Kip
1 Philippine Peso = 28.26291 Lebanese Pound
1 Philippine Peso = 3.00282 Sri Lanka Rupee
1 Philippine Peso = 2.66254 Liberian Dollar
1 Philippine Peso = 0.2584 Lesotho Loti
1 Philippine Peso = 0.05725 Lithuanian Lita
1 Philippine Peso = 0.01165 Latvian Lat
1 Philippine Peso = 0.02546 Libyan Dinar
1 Philippine Peso = 0.17921 Moroccan Dirham
1 Philippine Peso = 0.31576 Moldovan Leu
1 Philippine Peso = 0.99324 Macedonian Denar
1 Philippine Peso = 25.69014 Myanmar Kyat
1 Philippine Peso = 45.33333 Mongolian Tugrik
1 Philippine Peso = 0.15181 Macau Pataca
1 Philippine Peso = 6.66667 Mauritania Ougulya
1 Philippine Peso = 0.65765 Mauritius Rupee
1 Philippine Peso = 0.29239 Maldives Rufiyaa
1 Philippine Peso = 13.39812 Malawi Kwacha
1 Philippine Peso = 0.3853 Mexican Peso
1 Philippine Peso = 0.07515 Malaysian Ringgit
1 Philippine Peso = 0.25797 Namibian Dollar
1 Philippine Peso = 6.74178 Nigerian Naira
1 Philippine Peso = 0.59151 Nicaragua Cordoba
1 Philippine Peso = 0.15379 Norwegian Krone
1 Philippine Peso = 2.0385 Nepalese Rupee
1 Philippine Peso = 0.0272 New Zealand Dollar
1 Philippine Peso = 0.00723 Omani Rial
1 Philippine Peso = 0.01878 Panama Balboa
1 Philippine Peso = 0.06164 Peruvian Nuevo Sol
1 Philippine Peso = 0.06142 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28545 Pakistani Rupee
1 Philippine Peso = 0.06993 Polish Zloty
1 Philippine Peso = 106.70047 Paraguayan Guarani
1 Philippine Peso = 0.06835 Qatar Rial
1 Philippine Peso = 0.07565 Romanian New Leu
1 Philippine Peso = 1.1966 Russian Rouble
1 Philippine Peso = 15.95174 Rwanda Franc
1 Philippine Peso = 0.07042 Saudi Arabian Riyal
1 Philippine Peso = 0.14841 Solomon Islands Dollar
1 Philippine Peso = 0.25277 Seychelles Rupee
1 Philippine Peso = 0.33719 Sudanese Pound
1 Philippine Peso = 0.16718 Swedish Krona
1 Philippine Peso = 0.02548 Singapore Dollar
1 Philippine Peso = 0.01426 St Helena Pound
1 Philippine Peso = 0.41701 Slovak Koruna
1 Philippine Peso = 149.29577 Sierra Leone Leone
1 Philippine Peso = 10.57277 Somali Shilling
1 Philippine Peso = 397.4216 Sao Tome Dobra
1 Philippine Peso = 0.16432 El Salvador Colon
1 Philippine Peso = 9.67099 Syrian Pound
1 Philippine Peso = 0.25817 Swaziland Lilageni
1 Philippine Peso = 0.61446 Thai Baht
1 Philippine Peso = 0.04845 Tunisian Dinar
1 Philippine Peso = 0.04326 Tongan paʻanga
1 Philippine Peso = 0.08905 Turkish Lira
1 Philippine Peso = 0.12487 Trinidad Tobago Dollar
1 Philippine Peso = 0.56648 Taiwan Dollar
1 Philippine Peso = 42.59155 Tanzanian Shilling
1 Philippine Peso = 0.49596 Ukraine Hryvnia
1 Philippine Peso = 72.33803 Ugandan Shilling
1 Philippine Peso = 0.01878 United States Dollar
1 Philippine Peso = 0.59211 Uruguayan New Peso
1 Philippine Peso = 147.69953 Uzbekistan Sum
1 Philippine Peso = 1498.59155 Venezuelan Bolivar
1 Philippine Peso = 429.12676 Vietnam Dong
1 Philippine Peso = 2.02911 Vanuatu Vatu
1 Philippine Peso = 0.04869 Samoa Tala
1 Philippine Peso = 10.62592 CFA Franc (BEAC)
1 Philippine Peso = 0.0507 East Caribbean Dollar
1 Philippine Peso = 10.62592 CFA Franc (BCEAO)
1 Philippine Peso = 1.92432 Pacific Franc
1 Philippine Peso = 4.69202 Yemen Riyal
1 Philippine Peso = 0.25823 South African Rand
1 Philippine Peso = 97.4554 Zambian Kwacha
1 Philippine Peso = 6.79624 Zimbabwe dollar

Business confidence index lower

Business outlook on the economy for first quarter turned less optimistic while remaining positive, with the overall confidence index (CI) declining to 39.5 percent from 43.3 percent for the previous quarter, a survey conducted by the Bangko Sentral ng Pilipinas showed.

BSP said this indicates that the number of optimists declined but continued to be greater than the number of pessimists during the quarter. 

The confidence index is computed as the percentage of firms that answered in the affirmative less the percentage of firms that answered in the negative with respect to their views on a given indicator.

According to respondents, their less upbeat quarter-on-quarter outlook was due primarily to the following factors: (a) usual slowdown in business activity and moderation of consumer demand after the holiday and harvest seasons, (b) rising fuel prices that are largely influenced by higher international prices of crude oil and the increase in excise tax on petroleum products, and (c) stiffer competition. 

Likewise, concerns cited by respondent firms over the transitory impact on consumer prices with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law may have contributed to the lower outlook, although a significant number of businesses surveyed also mentioned about the positive impact of the tax reform.   

The sentiment of businesses in the Philippines mirrored the less favorable business outlook in the US, Canada, China, Hong Kong and South Korea, but was in contrast to the more bullish views of those in the UK, Australia, France, Germany, Netherlands and Thailand.

For the next quarter , business sentiment improved, with the CI rising to 47.8 percent from  39.7 percent in the last quarter’s survey. 

BSP said this suggests that economic growth could accelerate for the next quarter.

Respondents cited the following factors as reasons behind their more optimistic outlook: (a) usual increase in demand during summer (in view of the foreseen increase in the number of local and foreign tourists), enrolment and harvest periods, as well as the anticipated higher levels of household disposable income as the TRAIN Law takes into effect, (b) expected increase in government infrastructure spending with the “Build, Build, Build” strategy of the administration and higher tax revenues due to the TRAIN Law, (c) expansion of businesses, new projects and investment opportunities, and (d) continued product development, new product lines, and enhanced marketing strategies.

The survey showed the sentiment of businesses across trading types was mixed for the first quarter Q1 2018. 

The outlook of exporters, importers and domestic-oriented firms was less favorable for Q1 2018. 

Meanwhile, the outlook of dual-activity (both importer and exporter) firms was more optimistic. 

For the quarter ahead (Q2 2018), the outlook of firms across trade groups improved.

BSP said the decline in business sentiment for Q1 2018 is attributable largely to the wholesale and retail trade sector.

The outlook of the industry and construction sectors was more buoyant compared to that in the previous quarter. 

The sentiment of the services sector was steady for the current quarter, while those of the wholesale and retail trade sector was less favorable.

Industry firms’ bullish outlook was on account of expectations of increasing demand, improvement in production capacity, new product lines, enhanced marketing strategies, and increase in households’ disposable incomes attributable to the TRAIN Law. Industry firms were also looking forward to more favorable business conditions in both the domestic and external markets, and sustained foreign investment inflows.

The more upbeat outlook of construction firms was due mainly to expectations of new construction projects to be awarded in 2018.

The services sector’s outlook was steady compared to the outlook a quarter ago as the more positive sentiment of the financial intermediation, business activities, and community and social services sub-sectors offset the less favorable views of the real estate and hotels and restaurants sub-sectors. 

The steady outlook was also in view of the unchanged sentiment of some respondents on the economy and on business plans and operations as they await the effects of the implementation of the TRAIN Law.

The less favorable outlook of the trade sector stemmed from expectations of a slack in consumer demand and business activities after the Christmas season, higher fuel costs, and initial increase in prices due to the implementation of the TRAIN Law.

For the next quarter, optimism was higher in the industry, wholesale and retail trade, and services sectors, but lower in construction. 

The outlook of firms about their own business operations also turned less positive for Q1 2018 compared to that a quarter ago. 

The sectoral outlook of firms on the volume of business activity and total orders booked was consistent with those at the national level—more bullish for the industry and construction sectors but less upbeat for the wholesale and retail trade and services sectors.

The employment outlook index for the next quarter increased to 29.9 percent from 24.7 percent in the last quarter’s survey. This indicates that the number of firms with hiring intentions increased relative to a quarter ago.

Likewise, the percentage of businesses with expansion plans in the industry sector for Q2 2018 increased to  35.1 percent from 31.1 percent in the previous quarter. 

The financial conditions index remained in negative territory at -4.6 percent for Q1 2018 from -0.9 percent in the previous quarter. 

This means that firms that expected tighter financial conditions increased and continued to outnumber those that said otherwise. However, firms were of the view that their financing requirements could be met through available credit as respondents reported easy access to credit.

The Business Expectations Survey was conducted during the period 8 January – 22 February 2018. 

There were   1,469 firms surveyed nationwide. Respondents were drawn from the combined list of the Securities and Exchange Commission’s Top 7,000 Corporations in 2010 and Business World’s Top 1,000 Corporations in 2015, consisting of 584 companies in NCR and 885 firms in AONCR, covering all 16 regions nationwide. 

The survey response rate for this quarter was lower at 82.3 percent from 84 percent in the previous quarter. 

The response rate was lower for both NCR at 80 percent from 80.3 percent in the previous quarter and AONCR at 83.8 percent compared to   86.4 percent in the previous quarter.
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