The finance chiefs of the 21-member Asia-Pacific Economic Cooperation (APEC) have established a public-private Sustainable Finance Initiative (SFI) to foster inclusivity and resiliency in the region. In a statement, APEC said the SPI is "a flexible, voluntary and non-binding collaboration tool...
Aboitiz InfraCapital Economic Estates reported that one of its lessors, ATOMED Cebu Inc., is planning to expand its operations in the Philippines by adding incubator assembly lines and increasing its research and development capabilities. In a statement, the firm said ATOMED Cebu has renewed its...
By DERCO ROSAL The Bank of the Philippine Islands (BPI) expects the economy to continue outperforming its peers from the Asia-Pacific region, driven by anticipated strong consumer consumption, increased food supply, and stable global commodity prices. “Inflation is expected to be more manageable...
A decade after the Cebu Action Plan was crafted in the Philippines, finance ministers of the Asia-Pacific Economic Cooperation (APEC) will come up with a new non-binding five-year roadmap attuned to the regional challenges of these times. "Despite the reduction of inflationary pressures and gradual...
The SM Group is expanding its footprint in Clark Freeport and Special Economic Zone in Pampanga with the construction of a P2 billion multi-modal transport terminal, a convention center, and several hotels. In a statement, SM Investments Corporation said its integrated property in Clark is set to...
The National Economic and Development Authority (NEDA) said public-private partnerships (PPPs) are vital in bolstering the Philippines' disaster resilience, particularly in developing climate-resilient infrastructure. During the opening of the 2024 Asia-Pacific Ministerial Conference on Disaster...
The Philippines' below-goal and slowing near-term economic growth would be unlikely to gain from China's massive stimulus due to meager exports to the mainland, according to Deutsche Bank Research. Deutsche Bank's global macro forecasts released on Tuesday, Oct. 15, showed projected gross domestic...
The Asian Development Bank (ADB), Asian Infrastructure Investment Bank (AIIB), and Export Import Bank of Korea (KEXIM) vowed to support the Laguna Lakeshore Road Network (LLRN) project. The ADB has committed $1.2 billion as the initial tranche of funding, while the AIIB is contributing $188...
Investments to uplift the poorest and most vulnerable sectors in the Philippines may be funded by more foreign borrowings and other fiscal savings from more-than-enough US dollar reserves, the United Nations Economic and Social Commission for Asia and the Pacific (Unescap) said. "Applying a...
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...
President Marcos has designated a parcel of land in Tarlac City as a special economic zone (SEZ). President Ferdinand 'Bongbong' Marcos Jr. (Noel Pabalate) Malacañang said Marcos created the SEZ through Proclamation No. 701. The new SEZ is in Barangay Lourdes in Tarlac City. Proclamation No. 701...
The drop in Philippine inflation reflects weaker demand as consumers' pockets hurt by high prices and interest rates dry up, according to Deutsche Bank Research. Citing the over four-year low headline rate, Deutsche Bank's economist for the Philippines Junjie Huang said in an Oct. 4 report that "if...
