Weekly Updates

The USD could remain volatile from late October to November 3 with four major central bank meetings. The exception of BoJ keeping its policy unchanged, the rest are expected to hike rates 75 bps. However, deteriorating US economic data could undermine the strengthening USD and mean a sooner end to the Fed’s tightening cycle.

President Ferdinand Marcos signed a law Monday requiring mobile users to provide personal details when buying a SIM card, a regulation aimed at combating text messaging fraud. A national ID system covers most Filipinos and will serve as a crucial source document for telcos to counter check IDs that prepaid SIM users present as proof of identity. Telcos are calling for the full rollout to ensure the successful implementation of the newly signed SIM Registration law.

According to the Commerce ministry, Thailand’s exports rose 7.8% YoY in September from 7.5% YoY in August. For 9-month exports rose 10.6% YoY, exports expanded well as a shortage of supply had begun to unravel and a weak Thai baht.

President Ferdinand Marcos signed a law Monday requiring mobile users to provide personal details when buying a SIM card, a regulation aimed at combating text messaging fraud. A national ID system covers most Filipinos and will serve as a crucial source document for telcos to counter check IDs that prepaid SIM users present as proof of identity. Telcos are calling for the full rollout to ensure the successful implementation of the newly signed SIM Registration law.

The Department of Transportation (DOTr) broke ground on the construction of two stations of the Metro Manila Subway, a 33-kilometer underground railway system which will connect Valenzuela City to Pasay City. The groundbreaking for the Ortigas and Shaw Boulevard stations and tunnels, comprising package 104 of the project worth P20.46 billion, was led by President Bongbong Marcos and Transportation Secretary Jaime Bautista Monday.

President Ferdinand Marcos Jr. signed Sugar Order No. 1 classifies all locally produced sugar for the crop year 2022-2023 as “B” sugar, or for the domestic sugar market. This implies that no sugar produced domestically has been set aside for export to the United States.

According to Department of Energy (DOE) Secretary Raphael Lotilla, the Philippines have sufficient power supply until Dec-22, but the outlook for next year needs to be reviewed amid volatility in fuel prices. Aside from fuel prices, DOE emphasized issues on generation, transmission, and distribution which cause power outages in the country.

According to the Department of Trade and Industry (DTI), sugar retail prices are still selling at a high of P100-105/kg in the markets. This is despite the three big supermarket chains, SM, Robinson, and Puregold, now selling white refined sugar at P70/kg. In a separate statement, American Chamber of Commerce of the Philippines Executive Director Ebb Hinchliffe is urging the government to import more sugar to address the supply deficit of around 600,000 metric tons (MT).

According to the Department of Trade and Industry (DTI), sugar retail prices are still selling at a high of P100-105/kg in the markets. This is despite the three big supermarket chains, SM, Robinson, and Puregold, now selling white refined sugar at P70/kg. In a separate statement, American Chamber of Commerce of the Philippines Executive Director Ebb Hinchliffe is urging the government to import more sugar to address the supply deficit of around 600,000 metric tons (MT).