Tag: bworldonline
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IMF cuts Philippine growth outlook
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THE INTERNATIONAL Monetary Fund (IMF) trimmed the Philippines’ growth outlook for this year, after a slower-than-expected first-quarter expansion.
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FDI inflows up 23% in March
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By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINES’ foreign direct investment (FDI) net inflows jumped by 23% year on year to $686 million in March, bringing the first-quarter inflows to nearly $3 billion, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. Net inflows plunged by 49.8% in…
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Iti Mapukpukaw, Third World Romance win big at 2024 Gawad Urian
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CARL JOSEPH E. Papa’s animated film Iti Mapukpukaw emerged victorious at the 47th Gawad Urian awards ceremony held on June 8, winning Best Picture, Best Animation, and Best Sound. Mr. Papa said while accepting the award that the win is “bittersweet” because it talks about “abuse and trauma.” “Para ito…
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PHL eyes ODA from France to fund projects
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THE PHILIPPINES and France have signed a government-to-government agreement to secure funding for the former’s priority projects, the Finance department said. In a statement on Monday, the agency said the agreement would allow the Philippine government to obtain concessional official development assistance (ODA) and blended financing from France. This would…
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Balisacan defends decision to cut tariffs on imported rice
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NATIONAL ECONOMIC and Development Authority (NEDA) Secretary Arsenio M. Balisacan on Monday defended the government’s decision to slash tariffs on rice until 2028, saying this would reduce the impact of elevated global rice prices on Filipino consumers. “If you reduce the tariff… that will dampen the effects of world rice…
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Lenders’ nonperforming loan ratio hits 11-month high
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THE PHILIPPINE banking industry’s nonperforming loan (NPL) ratio in April rose to the highest in 11 months, as soured loans increased due to elevated interest rates. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the banking industry’s gross NPL ratio rose to 3.45% in April from 3.39% in…
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Dollar reserves rise to over 2-year high
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By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINES saw its dollar reserves soar to its highest level in over two years, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. Gross international reserves (GIR) rose by 1.8% to $104.48 billion as of end-May from $102.65 billion as of…
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PHL big banks’ asset growth quickens in Q1
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THE COMBINED ASSETS of the Philippines’ biggest lenders rose in the first quarter, fueled by increasing confidence in the economy’s prospects.
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23 years of shaping energy regulation in the Philippines
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The Energy Regulatory Commission (ERC) has been an essential institution in overseeing and regulating the energy sector in our country since its inception. With its commitment to ensuring a dependable, cost-effective, and sustainable energy supply, the ERC has continued to uphold the highest standards and promote a resilient energy industry…