With economic growth slowing to its lowest pace since the second quarter of 2023, economists pointed to lower inflation and eased monetary policy as potential catalysts for boosting consumption, although trade barriers and peso volatility could hinder this progress. "Admittedly, a continued boost...
The National Economic and Development Authority (NEDA) remains confident that the government can still achieve its full-year growth target despite a slowdown in gross domestic product (GDP) growth in the third quarter of 2024. In a briefing on Thursday, Nov. 7, the Philippine Statistics Authority...
By Derco Rosal The National Economic and Development Authority (NEDA) Board has approved funding extensions and budget increases for two major flood-control projects under the Department of Public Works and Highways (DPWH), amounting to 79.73 billion. “Both projects will receive supplemental...
The construction period for two of the government's flood mitigation projects in Cavite and Metro Manila has been extended to up to five more years and consequently received additional funding. President Marcos on Tuesday, Nov. 5, first approved the extension of the construction period and...
By Derco Rosal The country's inflation rate rose to 2.3 percent from September’s four-year low of 1.9 percent due to soaring rice prices which jumped following recent calamities including Severe Tropical Storm (STS) Kristine and Super Typhoon Leon. October's inflation pushed the 10-month...
By DERCO ROSAL While the majority of expectations nod to an uptick in October inflation, economists surveyed by Manila Bulletin hold mixed forecasts for the Philippines’ third-quarter 2024 economic performance, noting both growth opportunities and possible risks ahead. Following the four-year low...
President Marcos has urged private businesses to continue working with the government to achieve the administration's goal towards economic growth. President Ferdinand R. Marcos Jr. (MB File Photo/Noel B. Pabalate) "Moving forward, I urge the PCCI to continue working with us so we can achieve our...
The finance chiefs of the 21-member Asia-Pacific Economic Cooperation (APEC) have established a public-private Sustainable Finance Initiative (SFI) to foster inclusivity and resiliency in the region. In a statement, APEC said the SPI is "a flexible, voluntary and non-binding collaboration tool...
Aboitiz InfraCapital Economic Estates reported that one of its lessors, ATOMED Cebu Inc., is planning to expand its operations in the Philippines by adding incubator assembly lines and increasing its research and development capabilities. In a statement, the firm said ATOMED Cebu has renewed its...
By DERCO ROSAL The Bank of the Philippine Islands (BPI) expects the economy to continue outperforming its peers from the Asia-Pacific region, driven by anticipated strong consumer consumption, increased food supply, and stable global commodity prices. “Inflation is expected to be more manageable...
A decade after the Cebu Action Plan was crafted in the Philippines, finance ministers of the Asia-Pacific Economic Cooperation (APEC) will come up with a new non-binding five-year roadmap attuned to the regional challenges of these times. "Despite the reduction of inflationary pressures and gradual...
The SM Group is expanding its footprint in Clark Freeport and Special Economic Zone in Pampanga with the construction of a P2 billion multi-modal transport terminal, a convention center, and several hotels. In a statement, SM Investments Corporation said its integrated property in Clark is set to...
