June 19, 2018, 4:34 am
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1 Philippine Peso = 0.06887 UAE Dirham
1 Philippine Peso = 2.01763 Albanian Lek
1 Philippine Peso = 0.03375 Neth Antilles Guilder
1 Philippine Peso = 0.52595 Argentine Peso
1 Philippine Peso = 0.02519 Australian Dollar
1 Philippine Peso = 0.03338 Aruba Florin
1 Philippine Peso = 0.0375 Barbados Dollar
1 Philippine Peso = 1.56891 Bangladesh Taka
1 Philippine Peso = 0.03163 Bulgarian Lev
1 Philippine Peso = 0.00708 Bahraini Dinar
1 Philippine Peso = 32.83293 Burundi Franc
1 Philippine Peso = 0.01875 Bermuda Dollar
1 Philippine Peso = 0.02508 Brunei Dollar
1 Philippine Peso = 0.12845 Bolivian Boliviano
1 Philippine Peso = 0.06994 Brazilian Real
1 Philippine Peso = 0.01875 Bahamian Dollar
1 Philippine Peso = 1.26852 Bhutan Ngultrum
1 Philippine Peso = 0.19282 Botswana Pula
1 Philippine Peso = 375.39846 Belarus Ruble
1 Philippine Peso = 0.03746 Belize Dollar
1 Philippine Peso = 0.02475 Canadian Dollar
1 Philippine Peso = 0.0187 Swiss Franc
1 Philippine Peso = 11.85955 Chilean Peso
1 Philippine Peso = 0.12072 Chinese Yuan
1 Philippine Peso = 54.23964 Colombian Peso
1 Philippine Peso = 10.57585 Costa Rica Colon
1 Philippine Peso = 0.01875 Cuban Peso
1 Philippine Peso = 1.78136 Cape Verde Escudo
1 Philippine Peso = 0.41526 Czech Koruna
1 Philippine Peso = 3.32833 Djibouti Franc
1 Philippine Peso = 0.1203 Danish Krone
1 Philippine Peso = 0.92481 Dominican Peso
1 Philippine Peso = 2.19301 Algerian Dinar
1 Philippine Peso = 0.25282 Estonian Kroon
1 Philippine Peso = 0.33377 Egyptian Pound
1 Philippine Peso = 0.51078 Ethiopian Birr
1 Philippine Peso = 0.01616 Euro
1 Philippine Peso = 0.03862 Fiji Dollar
1 Philippine Peso = 0.01411 Falkland Islands Pound
1 Philippine Peso = 0.01411 British Pound
1 Philippine Peso = 0.08774 Ghanaian Cedi
1 Philippine Peso = 0.8783 Gambian Dalasi
1 Philippine Peso = 168.7418 Guinea Franc
1 Philippine Peso = 0.13756 Guatemala Quetzal
1 Philippine Peso = 3.86799 Guyana Dollar
1 Philippine Peso = 0.14715 Hong Kong Dollar
1 Philippine Peso = 0.44823 Honduras Lempira
1 Philippine Peso = 0.11904 Croatian Kuna
1 Philippine Peso = 1.22745 Haiti Gourde
1 Philippine Peso = 5.20533 Hungarian Forint
1 Philippine Peso = 261.11007 Indonesian Rupiah
1 Philippine Peso = 0.06788 Israeli Shekel
1 Philippine Peso = 1.27862 Indian Rupee
1 Philippine Peso = 22.20139 Iraqi Dinar
1 Philippine Peso = 793.5496 Iran Rial
1 Philippine Peso = 2.01763 Iceland Krona
1 Philippine Peso = 2.42115 Jamaican Dollar
1 Philippine Peso = 0.01329 Jordanian Dinar
1 Philippine Peso = 2.07454 Japanese Yen
1 Philippine Peso = 1.89293 Kenyan Shilling
1 Philippine Peso = 1.28161 Kyrgyzstan Som
1 Philippine Peso = 75.86537 Cambodia Riel
1 Philippine Peso = 7.83274 Comoros Franc
1 Philippine Peso = 16.87605 North Korean Won
1 Philippine Peso = 20.66229 Korean Won
1 Philippine Peso = 0.00567 Kuwaiti Dinar
1 Philippine Peso = 0.01538 Cayman Islands Dollar
1 Philippine Peso = 6.31164 Kazakhstan Tenge
1 Philippine Peso = 157.15357 Lao Kip
1 Philippine Peso = 28.23364 Lebanese Pound
1 Philippine Peso = 2.99081 Sri Lanka Rupee
1 Philippine Peso = 2.62835 Liberian Dollar
1 Philippine Peso = 0.2522 Lesotho Loti
1 Philippine Peso = 0.05717 Lithuanian Lita
1 Philippine Peso = 0.01164 Latvian Lat
1 Philippine Peso = 0.02542 Libyan Dinar
1 Philippine Peso = 0.17853 Moroccan Dirham
1 Philippine Peso = 0.31382 Moldovan Leu
1 Philippine Peso = 0.9715 Macedonian Denar
1 Philippine Peso = 25.27658 Myanmar Kyat
1 Philippine Peso = 45.11532 Mongolian Tugrik
1 Philippine Peso = 0.15157 Macau Pataca
1 Philippine Peso = 6.65667 Mauritania Ougulya
1 Philippine Peso = 0.65479 Mauritius Rupee
1 Philippine Peso = 0.29196 Maldives Rufiyaa
1 Philippine Peso = 13.37802 Malawi Kwacha
1 Philippine Peso = 0.38672 Mexican Peso
1 Philippine Peso = 0.0747 Malaysian Ringgit
1 Philippine Peso = 0.2516 Namibian Dollar
1 Philippine Peso = 6.71292 Nigerian Naira
1 Philippine Peso = 0.58522 Nicaragua Cordoba
1 Philippine Peso = 0.15276 Norwegian Krone
1 Philippine Peso = 2.03846 Nepalese Rupee
1 Philippine Peso = 0.02698 New Zealand Dollar
1 Philippine Peso = 0.00722 Omani Rial
1 Philippine Peso = 0.01875 Panama Balboa
1 Philippine Peso = 0.06144 Peruvian Nuevo Sol
1 Philippine Peso = 0.05887 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.23233 Pakistani Rupee
1 Philippine Peso = 0.06922 Polish Zloty
1 Philippine Peso = 105.94412 Paraguayan Guarani
1 Philippine Peso = 0.06825 Qatar Rial
1 Philippine Peso = 0.07529 Romanian New Leu
1 Philippine Peso = 1.18378 Russian Rouble
1 Philippine Peso = 15.92781 Rwanda Franc
1 Philippine Peso = 0.07032 Saudi Arabian Riyal
1 Philippine Peso = 0.1483 Solomon Islands Dollar
1 Philippine Peso = 0.25162 Seychelles Rupee
1 Philippine Peso = 0.33668 Sudanese Pound
1 Philippine Peso = 0.16475 Swedish Krona
1 Philippine Peso = 0.02532 Singapore Dollar
1 Philippine Peso = 0.01412 St Helena Pound
1 Philippine Peso = 0.41639 Slovak Koruna
1 Philippine Peso = 148.88431 Sierra Leone Leone
1 Philippine Peso = 10.53816 Somali Shilling
1 Philippine Peso = 395.79974 Sao Tome Dobra
1 Philippine Peso = 0.16407 El Salvador Colon
1 Philippine Peso = 9.65648 Syrian Pound
1 Philippine Peso = 0.25162 Swaziland Lilageni
1 Philippine Peso = 0.61204 Thai Baht
1 Philippine Peso = 0.04892 Tunisian Dinar
1 Philippine Peso = 0.04288 Tongan paʻanga
1 Philippine Peso = 0.08861 Turkish Lira
1 Philippine Peso = 0.12572 Trinidad Tobago Dollar
1 Philippine Peso = 0.56497 Taiwan Dollar
1 Philippine Peso = 42.52766 Tanzanian Shilling
1 Philippine Peso = 0.49372 Ukraine Hryvnia
1 Philippine Peso = 71.94825 Ugandan Shilling
1 Philippine Peso = 0.01875 United States Dollar
1 Philippine Peso = 0.59066 Uruguayan New Peso
1 Philippine Peso = 148.13426 Uzbekistan Sum
1 Philippine Peso = 1496.34352 Venezuelan Bolivar
1 Philippine Peso = 427.78924 Vietnam Dong
1 Philippine Peso = 2.02025 Vanuatu Vatu
1 Philippine Peso = 0.04811 Samoa Tala
1 Philippine Peso = 10.58541 CFA Franc (BEAC)
1 Philippine Peso = 0.05063 East Caribbean Dollar
1 Philippine Peso = 10.58541 CFA Franc (BCEAO)
1 Philippine Peso = 1.91656 Pacific Franc
1 Philippine Peso = 4.68498 Yemen Riyal
1 Philippine Peso = 0.25181 South African Rand
1 Philippine Peso = 97.30921 Zambian Kwacha
1 Philippine Peso = 6.78605 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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