The Philippines has secured its largest-ever loan from the World Bank, with the Washington-based multilateral lender approving $1 billion on Friday, March 27. This funding will support the Philippines Sustainable Agricultural Transformation Project (PSAT), which will be implemented by the...
The peso tumbled to a fresh record low on Friday, March 27, breaching the 60.5-level as geopolitical tensions in the Middle East intensified and the central bank signaled it sees no immediate need to defend the currency. The peso weakened to ₱60.55 per dollar, surpassing the previous historic low...
State-owned Development Bank of the Philippines (DBP) signed a ₱2-billion loan agreement with the City of Kabankalan to fund infrastructure and disaster resiliency projects, marking a significant escalation in state-backed efforts to combat chronic flooding in the Negros Occidental region. In a...
Foreign lenders are backing the Bangko Sentral ng Pilipinas’ (BSP) increasingly hawkish stance as the local economy grapples with war-driven oil price volatility and supply disruptions. Nomura Holdings Inc., a Japanese investment and brokerage giant, raised its expectations for “significant”...
The World Bank Group (WBG) said it is stepping up support for emerging market (EM) economies like the Philippines, as the ongoing Middle East conflict drives up commodity prices and disrupts global logistics, posing new risks to growth and food security. In a statement on Thursday, March 26, the...
Asia-Pacific economies, including the Philippines, are highly vulnerable to a protracted conflict in the Middle East, as sustained spikes in energy prices and broader disruptions threaten to slow growth and accelerate inflation, according to the Asian Development Bank (ADB). In a brief titled...
President Ferdinand R. Marcos Jr.’s chief economic manager said the economic team is in dialogue with the Philippines’ development partners, including the Asian Development Bank (ADB), to secure ample funding for the country’s power and fuel needs. “We are in constant discussion with our...
President Marcos’ declaration of a state of national energy emergency was a timely preemptive strike against volatile global crude markets rather than a delayed reaction, according to private sector economists, who warned that Filipino consumers must still prepare for a prolonged period of...
The Asian Development Bank (ADB) has rolled out a financial support package to help developing member countries (DMCs) cushion the economic fallout from the escalating conflict in the Middle East, as energy prices surge and global supply chains face disruptions. The move comes as the Philippines,...
Ty-led Metropolitan Bank & Trust Co. (Metrobank) has closed the public offer for its series F Association of Southeast Asian Nations (ASEAN) sustainability peso-denominated bonds a week early, indicating that the minimum ₱5-billion issuance was oversubscribed. The bank disclosed to the Philippine...
RAMALLAH, West Bank (AP) — At least 10 Palestinians were injured Sunday night in attacks in the occupied West Bank by Israeli settlers, who rampaged through nearby villages after holding a funeral for a settler killed in a car crash a night earlier. The Palestinian Red Crescent Society said the...
Ty-led Metropolitan Bank & Trust Co. (Metrobank) has launched the offer of its series F Association of Southeast Asian Nations (ASEAN) sustainability peso-denominated bonds, aiming to raise at least ₱5 billion with an oversubscription option as it continues to diversify its funding sources. In a...
