Lucio Co-led Philippine Bank of Communications (PBCom) was assigned an issuer credit rating of PRS Aa minus (corp.), with a Stable Outlook, by Philippine Rating Services Corporation (PhilRatings). An issuer credit rating, also sometimes called corporate credit ratings or company ratings, or...
Financing, mainly borrowings, for Philippine climate change mitigation and adaptation projects hit a record-high $3.131 billion (over P174 billion) in 2023. The 2023 Joint Report on Multilateral Development Banks' (MDBs) Climate Finance published by the European Investment Bank (EIB) this month...
Easy monetary policy supportive of economic growth across the Asia-Pacific region would follow the US Federal Reserve's cut in interest rates by an aggressive 50 basis points (bps), according to the top economist of the Manila-based Asian Development Bank (ADB). "I think it's good for the region...
The Department of Education (DepEd) announced on Tuesday, Sept. 17, that its key officials met with senior officials from the World Bank Philippines to review their collaborative efforts in addressing challenges in basic education in the country. (Photo from DepEd) Led by DepEd Secretary...
Growth in the country's bond market slowed in the second quarter of the year owing to reduced issuance from both corporate and government sectors, amid potential interest rate cut by the Bangko Sentral ng Pilipinas (BSP). Based on the Asian Development Bank’s (ADB) Asia Bond Monitor (ABM) report,...
Tycoon Manuel V. Pangilinan, who is also the chairman of PXP Energy Corporation, has an extraordinary wish for this year’s holiday season – a “Chinese Santa Claus” who will finally give a strife-free nod to petroleum exploration in the turbulent waters of West Philippine Sea,...
President Marcos has expressed his gratitude to the Asian Development Bank (ADB) for its "vote of confidence" for the Philippines' progress as it commits $12 billion to bolster support and address key constraints in the country over the next six years. FOR THE FUTURE — President Ferdinand...
The World Bank is committed to extend to the Philippines more loans, possibly blended with grants to slash interest costs, in order to bankroll flood control as well as climate change mitigation and adaptation projects as extreme weather poses a bigger threat to Filipino lives and livelihoods....
The Philippine Ports Authority (PPA) has committed the repurposing of at least three initial ports that will support the development of billion dollars-worth of offshore wind projects that the Marcos administration has been pushing for completion by 2028, according to the Department of Energy....
Users in developing countries such as the Philippines have been maximizing generative artificial intelligence (GenAI) tools like ChatGPT to make their work—and lives—easier, according to the World Bank. "Countries like India, Brazil, the Philippines, and Indonesia exhibit high rates...
The World Bank has flagged the delay in implementing the over one-year-old Philippine fisheries and coastal resiliency project (FishCoRe), for which the Marcos administration had borrowed $176 million (over P9.9 billion). "Despite the progress made, the project is still falling behind the overall...
CIMB Bank Philippines reported solid growth in its customer base for the first half of the year, fueled by attractive deposit promotions. In a statement on Monday, Sept. 9, the digital-only commercial bank said that its customer count surged 14 percent to 8.1 million as of June 2024 from 7.1...
