The Philippine Economic Zone Authority (PEZA) signaled plans to lower this year’s ₱300-billion target for investment pledges amid a 22-percent drop in approvals in the first quarter, as the ongoing war in the Middle East dampens investment plans. In a statement on Saturday, April 11, PEZA said...
The Philippine economy is facing its most severe test from the ongoing oil crisis, with economists warning that surging fuel costs and supply disruptions are exposing deep structural vulnerabilities and could derail growth prospects this year. In separate reports released on Friday, April 10,...
The interagency Fiscal Incentives Review Board (FIRB) has allowed registered business enterprises (RBEs) in economic zones and freeports to temporarily adopt work-from-home (WFH) arrangements of up to 90 percent of their workforce, following the declaration of a national energy emergency. In a...
CEBU CITY – More than 200 Overseas Filipino Workers (OFWs) from Central Visayas have been repatriated due to the tension in the Middle East. According to the Overseas Workers Welfare Administration-Central Visayas (OWWA-7), 202 OFWs from Region 7 have returned home, 59 from Saudi Arabia, 46 from...
The Department of Foreign Affairs (DFA) said it is receiving a steady stream of repatriation requests from Filipinos amid persistent tensions in the Middle East. As of Friday, April 10, data released by the DFA showed that it has received a total of 1,451 repatriation requests from overseas...
While the Bangko Sentral ng Pilipinas (BSP) remains firm on intervening in the foreign exchange (forex) market only when it becomes inflationary, its chief said this threshold has been lowered, citing the central bank’s credibility. BSP Governor Eli M. Remolona Jr. told CNBC on Friday, April 10,...
Amid tensions in the Middle East that could affect global logistics and fuel costs, medicine prices in the Philippines are expected to remain stable in the coming months, with no increases seen at least until June, the Department of Health (DOH) said on Friday, April 10. Health Secretary Teodoro...
School-based non-teaching and related teaching personnel will now be covered by the Department of Education’s (DepEd) work-from-home (WFH) arrangement every Friday, under an updated memorandum that also directs schools to maintain uninterrupted operations. In a memorandum posted on Thursday...
The country’s umbrella group of manufacturers and producers is urging the government to provide more support to businesses through subsidies and incentives, as higher operating costs threaten millions of livelihoods. In a statement, the Federation of Philippine Industries (FPI) said the...
Philippine economic recovery from the flood-control corruption fallout last year is seen as being derailed by escalating geopolitical risks from the Middle East conflict, according to the Asian Development Bank (ADB), which slashed its 2026 growth forecast to below target. Citing uncertainties tied...
British banking giant Barclays sees the Bangko Sentral ng Pilipinas (BSP) holding key interest rates steady at this month’s policy meeting before possibly hiking in June, in a bid to support the already weak economic growth outlook even prior to the war in the Middle East. “With the ceasefire...
The ceasefire-driven rally of Asian currencies, including the Philippine peso, may be short-lived as global oil risks linger, according to Singapore-based Oversea-Chinese Banking Corp. Ltd. (OCBC). In an April 9 report, OCBC Group Research foreign exchange (FX) strategists Sim Moh Siong and...
