Singapore-based United Overseas Bank (UOB) expects the Philippine economy to grow as targeted this and next year while inflation risks and interest rates ease. In its quarterly global outlook report for the fourth quarter of 2024, UOB forecasted the Philippines' gross domestic product (GDP) to...
The Philippines is among the lower middle-income countries in the Asia-Pacific region that can borrow from the Asian Development Bank's (ADB) new funding aimed at addressing the education crisis. In a Sept. 26 statement, the ADB said it forged an agreement with the sovereign-backed Geneva-based...
Inflation likely further slid to 2.9 percent in September as oil and rice price hikes eased, according to Dutch financial giant ING. "The Philippines' small decline in rice prices in September and lower transport fuel prices will have been offset by increases in fruits and vegetables and some other...
The Philippine Statistics Authority (PSA) has partnered with GoTyme Bank to offer free bank account openings for unbanked Filipinos who registered for the National ID system through mobile registration activities. “Filipinos who have just successfully registered to the National ID system in...
The World Bank is dangling a new $2.5-billion financing program to push East Asian and Pacific countries towards renewable energy (RE) use. The Accelerating Sustainable Energy Transition Program would "contribute to reducing greenhouse gas (GHG) emissions by 60 million tons over its lifetime while...
Inflation in the Philippines is expected by the Asian Development Bank (ADB) to further ease as reduced import tariffs on staple rice and other food products spill over to domestic retail prices, boosting consumption and overall economic growth. The Manila-based ADB's Asian Development Outlook...
Women-led and women-owned business incubator Villgro Philippines has secured a financial grant from the United States Agency for International Development (USAID) for its gender and climate initiatives. While USAID did not disclose the grant amount, the aid agency said in a Sept. 23 statement that...
The World Bank has cited progress in spending the $178.1-million loan that the Philippines obtained two years ago to fight prevalent stunting among Filipino children. A Sept. 23 implementation status and results report showed the Washington-based multilateral lender upgraded the overall risk rating...
Union Bank of the Philippines (UnionBank) is infusing an additional capital of up to P1.6 billion in subsidiary UnionDigital Bank Inc. which has been reported to be booking losses recently. In a disclosure to the Philippine Stock Exchange (PSE), the bank said its board of directors approved the...
SUSTAINABLE PARTNERSHIP From left: Jordan Tan, The Manila Bulletin head of business development, Philip Cu-Unjieng, The Manila Bulletin columnist, Dr. Raul Destura, Clinical and Translational Research Institute director at The Medical City, Jose Xavier Gonzales, chairman of the board of The Medical...
BuildHub PH, an online marketplace focused on construction, has teamed up with the Bank of the Philippine Islands (BPI) to support construction businesses in the country. In a statement, BuildHub PH said its partnership with the Ayala-led bank will offer contractors and hardware stores access to up...
Once its "Project Agila" ends in January 2025, the Bangko Sentral ng Pilipinas (BSP) will craft a three- to five-year roadmap in preparation for a possible central bank digital currency (CBDC), a top official said. During a breakout session at the Philippine Institute for Development Studies'...
