Inflation in the Philippines is expected by the Asian Development Bank (ADB) to further ease as reduced import tariffs on staple rice and other food products spill over to domestic retail prices, boosting consumption and overall economic growth. The Manila-based ADB's Asian Development Outlook...
Women-led and women-owned business incubator Villgro Philippines has secured a financial grant from the United States Agency for International Development (USAID) for its gender and climate initiatives. While USAID did not disclose the grant amount, the aid agency said in a Sept. 23 statement that...
The World Bank has cited progress in spending the $178.1-million loan that the Philippines obtained two years ago to fight prevalent stunting among Filipino children. A Sept. 23 implementation status and results report showed the Washington-based multilateral lender upgraded the overall risk rating...
Union Bank of the Philippines (UnionBank) is infusing an additional capital of up to P1.6 billion in subsidiary UnionDigital Bank Inc. which has been reported to be booking losses recently. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its board of directors approved the...
SUSTAINABLE PARTNERSHIP From left: Jordan Tan, The Manila Bulletin head of business development, Philip Cu-Unjieng, The Manila Bulletin columnist, Dr. Raul Destura, Clinical and Translational Research Institute director at The Medical City, Jose Xavier Gonzales, chairman of the board of The Medical...
BuildHub PH, an online marketplace focused on construction, has teamed up with the Bank of the Philippine Islands (BPI) to support construction businesses in the country. In a statement, BuildHub PH said its partnership with the Ayala-led bank will offer contractors and hardware stores access to up...
Once its "Project Agila" ends in January 2025, the Bangko Sentral ng Pilipinas (BSP) will craft a three- to five-year roadmap in preparation for a possible central bank digital currency (CBDC), a top official said. During a breakout session at the Philippine Institute for Development Studies'...
Lucio Co-led Philippine Bank of Communications (PBCom) was assigned an issuer credit rating of PRS Aa minus (corp.), with a Stable Outlook, by Philippine Rating Services Corporation (PhilRatings). An issuer credit rating, also sometimes called corporate credit ratings or company ratings, or...
Financing, mainly borrowings, for Philippine climate change mitigation and adaptation projects hit a record-high $3.131 billion (over P174 billion) in 2023. The 2023 Joint Report on Multilateral Development Banks' (MDBs) Climate Finance published by the European Investment Bank (EIB) this month...
Easy monetary policy supportive of economic growth across the Asia-Pacific region would follow the US Federal Reserve's cut in interest rates by an aggressive 50 basis points (bps), according to the top economist of the Manila-based Asian Development Bank (ADB). "I think it's good for the region...
The Department of Education (DepEd) announced on Tuesday, Sept. 17, that its key officials met with senior officials from the World Bank Philippines to review their collaborative efforts in addressing challenges in basic education in the country. (Photo from DepEd) Led by DepEd Secretary...
Growth in the country's bond market slowed in the second quarter of the year owing to reduced issuance from both corporate and government sectors, amid potential interest rate cut by the Bangko Sentral ng Pilipinas (BSP). Based on the Asian Development Bank’s (ADB) Asia Bond Monitor (ABM) report,...
