The Asian Development Bank (ADB) said multilateral development banks (MDBs) are coordinating efforts to help countries manage the economic fallout from the conflict in the Middle East through financing support, policy assistance, private-sector instruments, and technical expertise. In a statement...
The World Bank warned that the Philippines’ broad-based economic slowdown in the first quarter of 2026 could spill over into weaker household incomes and higher food prices as the country grapples with an escalating energy price shock triggered by tensions in the Middle East. In its latest...
Japanese financial giant MUFG Bank Ltd. revealed that the Philippine peso has emerged as the worst-performing currency in Asia since the flare-up of deepening military tensions between the United States (US) and Iran. According to data monitored by MUFG covering 11 Asian currencies, the peso has...
Metropolitan Bank & Trust Co. (Merobank), the second-largest private universal bank by assets, has increased interest rates on its digital time deposits to as high as five percent per annum amid persistent inflationary pressures and heightened financial responsibilities. As local savers grow...
Seven multilateral development banks (MDBs), including the Manila-based Asian Development Bank and the World Bank Group (WBG), pledged coordinated support measures to help countries manage the economic fallout from the ongoing conflict in the Middle East. In a joint statement released in Paris,...
Asia United Bank Corp. (AUB) posted a record net income of ₱3.2 billion for the first quarter of the year, driven by expanding margins and a surge in low-cost deposits that helped the lender weather global economic headwinds stemming from conflict in the Middle East. In a disclosure to the...
More than a decade after the World Bank approved financing for the Cebu Bus Rapid Transit (BRT) Project, the flagship urban transport initiative remains far from achieving its original objectives, with only a short section of the corridor substantially completed before the loan expires in...
The Philippines is aiming to spend nearly $300 million, or 30 percent, of its record-high $1 billion loan from the World Bank (WB) this year to augment the budget needed for programs aimed at helping the agriculture sector cushion the impact of the oil crisis. Agriculture Assistant Secretary Arnel...
The Philippines will repay until 2044 its biggest-ever loan from the World Bank, which will bankroll a sweeping agricultural transformation program aimed at boosting food production, modernizing farming systems, and strengthening climate resilience. Documents showed that Finance Secretary Frederick...
The Asian Development Bank (ADB) is prepared to provide up to $1.75 billion in additional financing to help the Philippines, its host country, manage the economic fallout from the ongoing conflict in the Middle East. In a statement on Friday, May 15, the Manila-based multilateral lender said ADB...
GT Capital Holdings Inc., the investment vehicle of the late tycoon George Ty’s family, reported a three percent decline in consolidated net income for the first quarter of 2026, as a global economic slowdown and supply chain bottlenecks pressured its automotive and real estate units. The firm...
Victims of two typhoons that struck the country last year would soon receive cash assistance after the Philippines and the Asian Development Bank (ADB) signed the agreement for a $3-million grant that will fund emergency aid for families affected by Typhoons “Tino” and “Uwan.” Documents...
