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News

  • Duterte formally terminates peace talks with Reds President Rodrigo Duterte formally terminated negotiations with communists, citing the rebels' supposed failure to display sincerity to the peace process. Pres. Duterte, who has repeatedly expressed readiness to wage war against the communist rebels, scrapped the moribund talks through Proclamation No. 360, Presidential Spokesman Harry Roque said. "While we agreed to resume peace talks with the aforementioned group and exerted our best efforts to accelerate the signing and implementation of the final peace agreement, the NDF-CPP-NPA has engaged in acts of violence and hostilities," Sec. Roque added.
  • Hot money outflows hit $563.2 Mn in October Profit taking resulted in the biggest net outflow of foreign portfolio investments in almost a year with $563.21 million in speculative funds leaving the country in October. The Bangko Sentral ng Pilipinas (BSP) or central bank reported inflows of foreign portfolio investments or hot money fell 15.3% to $1.38 billion in October from $1.63 billion in the same month last year. For the first 10 months, the country registered a net outflow of $812.17 billion, reversing the net inflow of $1.47 billion recorded in the same period last year. “This may be attributed to certain domestic and international developments including the interest rate hikes by the U.S. Federal Reserve, global terrorist attacks, North Korea’s nuclear missile testing and the closure order for several mining companies in the country,” the central bank said.

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