The Asian Development Bank (ADB) has approved a $500 million policy-based loan to further strengthen the Philippines’ efforts to tackle climate change. In a statement, Pavit Ramachandran, ADB Philippines country director, said the Climate Change Action Program (CCAP) Subprogram 2 supports the...
(DSWD-DROMIC Facebook Page) The Department of Social Welfare and Development (DSWD) said 21,492 families or 75,110 individuals, are still sheltered in evacuation centers following the devastation caused by Typhoon Nika, Super Typhoon Ofel, and Super Typhoon Pepito. Based on the data from the...
The local stock market recovered some lost ground as investors wait for fresh US and Philippine economic data to be released later this week. The main index added 69.87 points or 1.03 percent to close at 6,850 as the Services sector led all sub-indices higher. Volume rose to 701 million shares...
Real estate firm Italpinas Development Corporation (IDC) announced that businessman Benjamin Tan Co had invested about P188 million to acquire a 15 percent stake in the company as its new investor-partner. In a statement, IDC said it has inked an agreement for the entry of Co as a strategic...
The Philippines will repay to the Asian Development Bank (ADB) the initial loan it secured for the Laguna Lakeshore Road Network (LLRN) until 2052, or 24 years after the project is expected to be passable. Documents showed that Finance Secretary Ralph G. Recto, on behalf of the Philippine...
The local stock market dropped on concern over the weaker peso and the escalation of the war between Russia and Ukraine. The main index fell 82.88 points or 1.21 percent to close at 6,780.13 with Conglomerates leading the retreat while Miners bucked the trend. Volume fell to 605 million shares...
Senator Ronald “Bato” Dela Rosa said he is confident that an increase in the budget for the Mindanao Development Authority (MinDA) and the continued financial support for the Southern Philippines Development Authority (SPDA) would boost the economic growth of Mindanao. Dela Rosa,...
The local stock market fell on profit-taking following a strong three-day bounce. The main index lost 112.62 points or 1.61 percent to close at 6,863.01 as Conglomerates led the drop with only the Services sector managing to advance. Volume was stable at 1.37 billion shares worth P5.64 billion as...
Vice President Sara Duterte is not a fan of dole-outs or “ayuda,” touting good governance and peace and development programs as the better options to help uplift the lives of Filipinos from poverty. Vice President Sara Duterte (MB file photo) In an interview at the Office of the...
The PSEi continues to rally following last week’s steep dive and is now close to the 7,000 level as the central bank said its rate cut plan is unchanged while investors are more upbeat now with US-Philippine relations under incoming President Trump. The main index surged by 172.44 points or 2.53...
Asia-Pacific economies should keep free trade flowing despite looming challenges to be presented by the return of a protectionist Trump 2.0 administration in the US, according to the top economist of the Asian Development Bank (ADB). “We’re concerned—obviously, it’s probably going to be a...
Micro, small and medium enterprises (MSMEs) continue to expand in fast-growing Philippines, getting a boost from booming electronic commerce, according to the Asian Development Bank (ADB). However, MSMEs in the country remain hampered by limited access to financing, partly as banks avoid bad loans...
