The World Bank said its loan-funded Philippine Fisheries and Coastal Resiliency (FishCoRe) Project is making progress even as the Washington-based multilateral lender slightly downgraded the project’s overall implementation ratings. In a Sept. 5 implementation status and results report, the World...
Singapore-based United Overseas Bank (UOB) expects lower interest rates to lift Philippine economic growth in the near term, despite lingering global challenges that would likely expand the domestic economy below the government’s goal for the year. In its Quarterly Global Outlook report for the...
Economic growth in Asia-Pacific stands to benefit from increased artificial intelligence (AI) and cloud computing adoption across the region, according to the Asian Development Bank (ADB). In a brief titled “Leveraging Artificial Intelligence and Cloud Computing to Accelerate Growth in Asia and...
Japanese financial giant MUFG has forecast the Philippine peso to fare steadily against the United States dollar through the second quarter of 2026, as the latter bears the brunt of U.S. President Donald Trump’s attack on the Federal Reserve’s independence. MUFG projected the peso’s current...
Union Bank of the Philippines (UnionBank) reported that the board of directors of its fintech arm UBx Philippines has appointed former Foodpanda Philippines head Daniel Marogy as chief executive officer (CEO) effective Sept. 1, 2025. “Marogy brings over 16 years of transformative leadership...
Consumer prices may have risen at a faster pace in August, the central bank projected, as recent typhoons and excessive rainfall likely stoked the cost of basic goods, especially food items. Last month’s inflation is expected to clock within the range of one percent to 1.8 percent, according to...
To enhance school leadership and accelerate classroom development, the Department of Education (DepEd) has teamed up with Security Bank Foundation, Inc. (SBFI) and Security Bank Corporation (SBC). In a statement issued on August 29, DepEd said the partnership aligns with President Marcos’ call to...
The passage into law of the Konektadong Pinoy Act is seen by the World Bank as a positive development toward digital transformation in the Philippines. In an Aug. 28 implementation status and results report, the Washington-based multilateral lender said the rollout of the Philippines Second Digital...
State-owned Development Bank of the Philippines (DBP) has extended a ₱815-million term loan to a mass housing developer to construct three residential buildings in Bulacan, heeding the call from President Marcos to broaden support for the housing sector. The DBP’s funding, which was extended to...
Ayala-led Bank of the Philippine Islands (BPI) expects the Bangko Sentral ng Pilipinas (BSP) to extend its easing cycle until the first quarter of 2026, after the widely expected two-quarter-point rate cuts by year-end, to stimulate growth as price pressures remain subdued. “We think there’s...
Germany-based Deutsche Bank said a quarter-point rate cut on Thursday would help support Philippine economic activity, following the Bangko Sentral ng Pilipinas’ (BSP) revised forecast that the negative output gap will persist until 2027. “We see the BSP lowering its policy rate by 25 bps...
When President Marcos took office in 2022, his administration vowed to ramp up oil and gas investments, starting within the safer terrains of the Philippines’ exclusive economic zone (EEZ). It also eyed the flashpoint: restarting exploration and drilling in the contested waters of the West...
