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,...
Motorcycle sales in the Philippines accelerated by eight percent to more than 640,000 units in the first four months of the year as fuel prices remained elevated, although the impact of inflation on purchases is already being felt. Based on data from the Federation of Asian Motorcycle Industries...
The Asian Development Bank (ADB) is prepared to provide up to $1.75 billion in additional financing to help the Philippines, its host country, manage the economic fallout from the ongoing conflict in the Middle East. In a statement on Friday, May 15, the Manila-based multilateral lender said ADB...
Victims of two typhoons that struck the country last year would soon receive cash assistance after the Philippines and the Asian Development Bank (ADB) signed the agreement for a $3-million grant that will fund emergency aid for families affected by Typhoons “Tino” and “Uwan.” Documents...
The Asian Development Bank (ADB) has entered into a new partnership with Security Bank Corp. aimed at expanding access to supply-chain financing for small and medium enterprises (SMEs) in the Philippines. In a statement on Tuesday, May 12, the ADB said it signed a risk participation agreement (RPA)...
The Asian Development Bank (ADB) will mobilize $30 billion by 2030 to help the Association of Southeast Asian Nations (ASEAN) strengthen long-term development priorities and withstand external economic shocks. ADB president Masato Kanda announced the commitment during the 48th ASEAN Summit in Cebu...
The Multilateral Investment Guarantee Agency (MIGA), the World Bank Group’s (WBG) arm that extends political risk insurance to both private-sector investors and lenders, has renewed its cooperation agreement with the Asian Development Bank (ADB) to support investments and job creation across...
Samarkand, UZBEKISTAN — Amid comparisons by some local firms claiming that the ongoing oil crisis triggered by the conflict in the Middle East is hurting their business operations more severely than the Covid-19 pandemic, economists from the Asian Development Bank (ADB) said the broader...
With Bennie Boatwright nearing his Filipino citizenship to become a Gilas Pilipinas player, excitement has begun to build up not only for the fans but for the San Miguel import as well. The 6-foot-10 center, who is expected to provide the size, shooting and versatility to the national team, is now...
Samarkand, UZBEKISTAN — The information technology and business process management (IT-BPM) industry, the Philippines’ top dollar earner, needs to overcome infrastructure and talent challenges while keeping pace with emerging technologies such as artificial intelligence (AI) to maintain its...
BALI, INDONESIA—Southeast Asia is taking bold steps to professionalize its sporting landscape, with regional leaders affirming the Bali Declaration on Youth and Sports and unveiling plans to elevate the Southeast Asian Games (SEA Games) to global standards. The initiative includes the creation of...
Samarkand, UZBEKISTAN — The Asian Development Bank (ADB) said central banks should be cautious about raising interest rates too quickly in response to supply shock-driven inflation, even as the Bangko Sentral ng Pilipinas (BSP) is now widely expected to tighten monetary policy further after April...
