The World Bank expects the Philippine economy to grow by an average of six percent in the next three years — one of the fastest rates in the region, despite challenges to jobs arising from new technologies like robots and artificial intelligence (AI). In its East Asia and the Pacific...
House Speaker Martin Romualdez (Facebook) Speaker Martin Romualdez played up during plenary session on Wednesday night, Sept. 25 the contributions made by the House of Representatives, and Congress in general, to the economic...
Consumers are under new threat of financial drain next week as pump prices are seen rising again by a significant proportion, based on the estimates of the oil companies. According to the industry players, the price of gasoline products will potentially go up by P0.65 to P1.05 per liter; while...
Despite the string of strong typhoons that battered economically-productive parts of the Philippines so far in the third quarter, the country's chief economist still expects to hit the targeted economic expansion for 2024. "We're confident we'll achieve our six- to seven-percent growth target this...
A few months before reaching the midpoint of his six-year term, President Marcos ensured that the government was doing everything so every Filipino would benefit from the country's improving economy. File photos/Arnold Quizol Marcos said this after the Japan-based Rating and Investment Information,...
President Marcos has vowed to invest in job-generating infrastructure and social protection programs to further lower the country's poverty rate to nine percent by 2028 after reporting that the poverty rate dropped to 15.5 percent last year. In a video message late Friday, Aug. 9, Marcos noted that...
Despite robust outcome at its top line, the consolidated net income of leading oil player Petron Corporation posted a slight downturn in the first half to P6 billion from last year’s P6.14 billion in the same period. On the company’s operating income, this logged more favorable result with 8.0...
Finance Secretary Ralph G. Recto said that the inflation rate may move at a much faster pace in July, while the impact of Typhoon Carina on the prices of goods is expected to be felt in the following months. “I think, coming from a low base, the inflation will be higher, but still within target...
Having posted record sales of roughly 9.0% in the first half and with cash stream from additional generated capacities, power utility giant Manila Electric Company (Meralco) has scaled up its profit goal to P43 billion for the entire year from its initial target of P40 billion. Meralco Chairman...
The Department of Finance (DOF) said that the remittance of P89.9 billion in unused funds from the Philippine Health Insurance Corp. (PhilHealth) is projected to boost economic growth by 0.8 percentage points. Finance Secretary Ralph G. Recto said at the Post-State of the Nation Address...
Consumers will still feel the pinch of higher oil prices at the pumps next week, although calculated adjustments will be coming at relatively moderate amounts compared to the past two weeks. Based on the estimates of the oil companies, the price of gasoline products will rise by P0.50 to P0.90 per...
The progress of many economies on their energy transition agendas will weaken demand growth for oil commodities in the years ahead, according to Paris-based global think tank International Energy Agency. But while oil consumption will be on decline, there are projections that oil production on...
