Malacañang remains hopeful that the Philippines would be able to attain the upper middle income threshold this year. The country is just $26 away from reaching the upper middle-income country (UMIC) status, according to Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio...
Alabang Country Club has announced on Tuesday, Aug. 5, the temporary closure of its Petron station, located inside the posh Ayala Alabang Village in Muntinlupa, following a reported gas leak incident. In a statement, the upscale, members-only club said that the incident was first reported on...
Citing a lackluster performance that the Philippine economy has been showing since its recovery from the Covid-19 pandemic, climbing to the high-income-status target 15 years from now could be impossible, the country’s chief socioeconomic planner stated. Department of Economy, Planning, and...
While the Philippines’ climb to upper-middle-income-country (UMIC) status is attainable in the medium term, the country will be surpassed by neighboring Vietnam, which would jump to become a high-income economy 15 years from now, according to Singapore-based DBS Bank Ltd. The Philippines,...
President Marcos has cited the role of the World Bank in the Philippines ' goal to build critical infrastructure and boost preparedness against climate change and natural disasters. During the ceremonial turnover of the World Bank Group Philippines Country Partnership Framework (CPF) for...
Marking two glorious decades of golf excellence, the Lakewood Golf and Country Club held a member-guests tournament on June 28, 2025, in celebration of its 20th anniversary. The shotgun event was kicked off with a ceremonial tee by Sta. Lucia Land Chairman and Lakewood Board Member Vicente R....
The World Bank Group’s (WBG) International Finance Corp. (IFC) is considering another round of investment financing support for Ayala Land Inc. (ALI), including for the property giant’s ongoing renovation and expansion of its flagship malls to make them “greener.” A World Bank document seen...
The Department of Agriculture (DA) is set to receive a loan financing from the Washington-based multilateral lender World Bank next year for a project aimed at supporting small agri-businesses. A June 26 document published on Thursday, July 3, showed that the DA is seeking an investment project...
President Marcos is optimistic that the country would achieve upper-middle-income status during his presidency, Malacañang said. Palace Press Officer and Communications Undersecretary Claire Castro said the administration will double its efforts in order to attain the status. “[L]agi pong...
President Ferdinand Marcos Jr.’s chief economic manager said that achieving upper-middle-income country (UMIC) status is definitely attainable by the end of 2025 or 2026, citing the still expansionary national budget planned for next year to stimulate the economy. “Surely, we will attain UMIC...
As widely expected, the Philippines remained classified as a lower-middle-income country (LMIC) after narrowly missing the lowered threshold to achieve upper-middle-income country (UMIC) status, based on the World Bank’s latest country income classification. The latest data released by the...
The Philippines is seeking a World Bank loan worth billions of pesos to enhance technical-vocational education and training (TVET) in the country. In a concept document dated June 24, the World Bank said the investment project financing (IPF) for the proposed $250.625-million (over ₱14-billion)...
