News Snapshot:
The country’s balance of payments will likely further improve in November and December on higher seasonal inflows of remittances and business process outsourcing revenues, an economist said over the weekend. Rizal Commercial Banking Corp. chief economist Michael Ricafort said in a report the factors for the improved BOP position would include increased remittances, revenues from business process outsourcing, tourism receipts and contributions from offshore gaming operations. The Bangko Sentral ng Pilipinas reported on Friday that the BOP in October posted a surplus for the first time in seven months at $711 million, following a deficit of $2.3 billion in September....
