A stronger and more resilient middle class is critical to sustainably reducing poverty and achieving inclusive economic growth in the Philippines, according to the Department of Economy, Planning, and Development (DEPDev). Speaking at the launch of the World Bank’s Poverty and Equity Assessment...
Philippine National Bank proudly announces that its homegrown talent has been recognized by Citywire Asia in its Top 25 ASEAN Selectors 2026 list. Mark Gieron De Mesa, Head of Wealth Solutions, is among the eight Filipino awardees honored this year. Now in its fifth year, the Citywire Asia Top...
Quezon City Mayor Joy Belmonte emphasized the crucial role of local government units (LGUs) in strengthening the Filipino middle class and advancing poverty reduction during a World Bank forum on Friday, June 5. She made the statement at the launch of the World Bank report and forum titled...
State-run Development Bank of the Philippines (DBP) approved a ₱100 million credit line to Bayanihan Bank Inc., a rural lender, to expand financing for small-scale farmers and fishermen across several provinces. In a statement, Michael O. de Jesus, DBP president and chief executive officer, said...
The Philippines and the World Bank have signed an $18.85-million grant agreement to strengthen the country’s defenses against future pandemics, while the Washington-based multilateral lender also commended the satisfactory implementation of an ongoing agriculture modernization project. Documents...
The outbreak of the Middle East conflict, which resulted in disruptions to the global oil supply and caused the sharp increase in the price of crude oil per barrel, has profoundly altered the Philippines’ approach to energy security. The fragility of the country’s energy security—due largely...
Foreign banks expect Philippine inflation to have picked up further in May, above the already more-than-four-year high of 7.2 percent last April, making room for more interest rate hikes by the Bangko Sentral ng Pilipinas (BSP). In a May 29 report obtained by Manila Bulletin, Goldman Sachs...
The Philippines is set to secure another $1-billion loan from the World Bank in June, this time for an energy project follow-through and coupled with a $20-million grant, making the package the largest single financing commitment extended to the country by the Washington-based multilateral lender....
Philippine banks’ bad loan ratio deteriorated to 3.37 percent as of end-April 2026, marking an eight-month high, likely due to the delayed impact of elevated borrowing rates on borrowers. The latest Bangko Sentral ng Pilipinas (BSP) data showed that the banking industry’s gross non-performing...
Foreign banks are turning more hawkish on domestic consumer prices than the central bank, warning that expiring price freezes and unabsorbed food costs will drive inflation beyond official projections. Frankfurt-based Deutsche Bank AG has an inflation forecast of 8.1 percent for May, breaching the...
International Finance Corp. (IFC) is collaborating with Thailand-based renewable energy (RE) developer Sermsang Power Corp. Public Co. Ltd. as the latter pursues its planned entry into the Philippines through a proposed RE generation project on Negros Island. In a disclosure over the weekend, the...
Inflation may have surged to as high as 7.9 percent in May, driven by soaring basic commodity prices and the weakening local currency, according to the Bangko Sentral ng Pilipinas (BSP), Amid intensifying macroeconomic headwinds, global supply shocks filter into the domestic economy, the central...
