World Bank Approves Funding to Support Financial Sector Resiliency and Strengthen Recovery in the Philippines

The World Bank’s Board of Executive Directors approved financing to support the Philippine government’s efforts to boost the resiliency and sustainability of its financial sector and strengthen economic recovery from the COVID-19 pandemic. The US$600-million Philippines Second Financial Sector Reform Development Policy Financing provides continuing support to three policy reform areas including strengthening financial sector stability, integrity, and resilience; expanding financial inclusion for individuals and firms, especially micro, small, and medium enterprises (MSMEs); and catalyzing climate and disaster risk finance to help protect Filipino families from the impacts of climate change and…

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Exports Volume Index Fell in Q3 2022

​Exports Unit Value Index continues to rise in the third quarter of 2022 driven by higher commodities prices in the world market. The terms of trade, registered an increase of 29.2 per cent in third quarter, Q3 2022 compared to Q3 2021. This was mainly contributed by the growth of Chemicals index, followed by Food and Beverages. Total exports increased by 32.2 per cent which was due to a rise in the exports unit value index mainly contributed by Mineral Fuels, Food and Beverages. Rising prices of these commodities in…

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Retails Sales Index and Food and Beverages Services Index

In the third quarter, Q3 2022, the performance of the retail sales showed a year-on-year increase of 4.8 percent with an estimated value increased from $407.4 million to $427 million. The Department of Economic Planning and Statistics, DEPS, Ministry of Finance and Economy in its press release on Retails Sales Index and Food and Beverages Services Index informed that in terms of volume, the retail sales also recorded a positive growth of 2.4 percent year-on-year.   The increase in retail sales was mainly caused by an increase in sales of…

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International Merchandise Trade Statistics September 2022

The total trade recorded an increase of 13.5 percent from $2,267.5 million in September 2021 to $2,572.8 million in September 2022, contributed by a rise in both export and import value between those periods. The Department of Economic Planning and Statistics, DEPS, Ministry of Finance and Economy in its press release informed that compared to August 2022, total trade fell 7.2 percent due to a fall in exports and imports value, mainly Mineral Fuels.   Total exports increased by 22.6 percent to $1612.2 million in September 2022. This was mainly…

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Payment of Service Pension and Derivative Pension for December 2022

  Payment of Service Pension and Derivative Pension for Widows and Dependents for the Brunei Muara District will be continued at the Revenue Division Counter, First Floor, Ministry of Finance and Economy building.   For Tutong District, Belait District and Temburong District, payments will be made at the Treasury Department Branch Office counters in the respective districts until 11th January 2023 from 8:30 until 11:30 in the morning and 1:30 to 3:30 in the afternoon via walk-in during office hours.   Any inquiries, contact 2380822 or 2383469 for Brunei Muara…

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Expresses Creativity in Decorations

​Starting with only accepting orders for wedding arrangements and gifts decorations, Lailys Wedding Boutique owned by local is now providing options for those who want to start a family.   Established since 1997, the boutique offers a variety of wedding accessories. Being a bridal boutique entrepreneur requires creativity in offering each service in addition to following current developments in order to remain relevant.   Along with the passage of time, the wedding industry is also able to contribute in generating the economy. Not only providing facilities for those who want…

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