Private employers can now claim a dual tax deduction if they match or exceed the retirement contributions of their employees, the Bangko Sentral ng Pilipinas (BSP) said, as policymakers seek to deepen the domestic capital market and boost corporate participation in the country’s voluntary savings...
Global debt watcher Fitch Ratings expects Philippine banks to face increasing costs as they write off unpaid debts and prepare for future losses while navigating an increasingly uncertain geopolitical and economic environment caused by the Middle East war. This outlook comes even as the Bangko...
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...
Escalating tensions in the Middle East and the resulting spike in global oil prices could trigger broader economic disruptions in the Philippines, worsening inflation, weakening the peso, and raising costs across transportation, food, tourism, and other energy-intensive industries, according to...
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,...
De La Salle University (DLSU) economists slashed their 2026 Philippine gross domestic product (GDP) growth forecast to 3.11 percent from 3.79 percent previously, warning that the economy is facing mounting pressure from the Middle East conflict, elevated inflation, and lingering domestic...
The peso’s descent to unprecedented lows is facing a volatile new headwind, with MUFG Bank Ltd. warning that an escalating political feud between the nation’s two most powerful dynasties threatens to upend investor confidence. The Japanese financial institution said that the deepening rift...
The country’s gross gaming revenues fell 15.9 percent in the first quarter of the year, driven by the sharp contraction in electronic gaming as inflationary spillovers from conflicts in the Middle East eroded local consumer discretionary spending. Philippine Amusement and Gaming Corp. (Pagcor)...
The Philippines finds itself navigating an increasingly difficult global environment. Even before the outbreak of war in the Middle East sent oil prices surging, the country was already grappling with slowing foreign direct investment (FDI) inflows, elevated inflation, and weakening economic...
The Philippines is facing a deepening cost-of-living crisis and a sharp economic slowdown driven by escalating tensions between the United States (US) and Iran, according to a report by BMI, a unit of Fitch Solutions. While the government has introduced relief measures, a narrowing fiscal window...
A group of 322 overseas Filipino workers (OFWs) safely returned to the country from Kuwait on Friday morning, May 15, as the Department of Migrant Workers (DMW) and Overseas Workers Welfare Administration (OWWA) intensified repatriation efforts amid continuing tensions in the Middle East. The OFWs...
