In the quest to materialize the great regional grid interlink across the Association of Southeast Asian Nations (ASEAN), the Manila-based Asian Development Bank (ADB) is projecting around $16 billion (approximately ₱890 billion) worth of investments to pursue the development of key...
In a continuing push to improve the power situation in off-grid communities, the Department of Energy (DOE) and the Asian Development Bank (ADB) are collaborating on a program to upgrade the off-grid systems of the National Power Corp. (NPC). During the Asian Clean Energy Forum (ACEF), Energy...
Japanese financial giant MUFG Bank Ltd. sees t he peso 's appreciation streak against the United States (US) dollar being sustained until early 2026. "We continue to forecast the Philippine peso to strengthen against the US dollar, reflecting low inflation, continued space for rate cuts, FDI...
The Bangko Sentral ng Pilipinas (BSP) is seen cutting interest rates for two consecutive policy meetings as inflation falls to below-target levels, according to Deutsche Bank Research. In a May 31 report emailed on Monday, June 2, Deutsche Bank Research forecast headline inflation in May at 1.5...
Nearly three months after launching a promotional ₱10 transaction fee, Ayala-led Bank of the Philippine Islands (BPI) has decided to keep the lower fee as a permanent feature for interbank fund transfers (IBFT) carried out via InstaPay, due to strong customer demand. The BPI has announced in a...
Big businesses were asked in 2022 to take accountability for their plastic packaging. Those with P100 million or more in assets were tasked to gradually recover 80 percent of their plastic product footprint by 2028. Over 2,000 companies are obliged to do that. Three years have passed and, alas,...
The World Bank Group (WBG) has imposed a 4.5-year debarment on L.S.D. Construction & Supplies, a construction firm in the Philippines, for “collusive, fraudulent, and corrupt practices” linked to the Philippine rural development project (PRDP). In a May 28 statement posted on its website, the...
The Philippines is scheduled to borrow a total of $7.85 billion, or over ₱437 billion, from the Washington-based World Bank in the next two years under their new six-year lending program aimed at supporting the climb to upper-middle-income country (UMIC) status. The country partnership framework...
A "steady" Philippine economy would allow the peso to further strengthen to the ₱54:$1 level before year-end, despite lingering downside risks from local politics as well as external economic and financial developments, according to Japanese financial giant MUFG Bank Ltd. In a May 27 report...
The Philippines will receive a $400-million, or about ₱23.4-billion, loan from the Asian Development Bank (ADB) to restore marine ecosystems and strengthen its blue economy, as part of the lender’s $24-billion support package for Southeast Asia through 2028. ADB President Masato Kanda announced...
The Philippines ' annual economic growth is expected by the World Bank Group (WBG) to remain below six percent this year until 2031. Its newest country partnership framework (CPF) for the Philippines, covering fiscal years (FYs) 2026 to 2031, showed that the WBG forecasts Philippine gross...
The World Bank Group (WBG) will extend to the Philippines between $22 billion and $23 billion—or as much as over ₱1.2 trillion—in loan and other financing starting mid-2025 until 2031 to support both public and private initiatives aligned with the country 's climb to upper-middle-income...
