ADB cuts Philippines growth outlook to 6% in 2024
The Asian Development Bank has trimmed its growth forecast for the Philippines for this year, citing risks posed by extreme weather events that can drive up inflation and the slower growth in advanced economies......»»
ADB, iSON ink deal to boost Philippines digital connectivity
MANILA, March 4 (Xinhua) -- The Asian Development Bank (ADB) said Monday that it has signed a 2.4 billion pesos (42.85 million U.S. dollars) loan with the telecom towers building and managing company iSON Tower Limited Inc. as part of a ADB-led co-financing package to enhance digital connectivity in the Philippines. The loan will support the construction, development, and operation of 800 shared telecommunicatio.....»»
ADB, iSON ink deal to boost Philippines digital connectivity
MANILA, March 4 (Xinhua) -- The Asian Development Bank (ADB) said Monday that it has signed a 2.4 billion pesos (42.85 million U.S. dollars) loan with the telecom towers building and managing company iSON Tower Limited Inc. as part of a ADB-led co-financing package to enhance digital connectivity in the Philippines. The loan will support the construction, development, and operation of 800 shared telecommunicatio.....»»
ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
ADB approves 655,000 USD to help Philippine rural banks digitization
MANILA, Feb. 19 (Xinhua) -- The Asian Development Bank (ADB) on Monday said it will provide grants totaling 655,000 U.S. dollars for the digitization of nine rural banks and a bank consortium in the Philippines. The grants are part of ADB's Fintech for Inclusion Transformation (FIT) program. The grant awardees were chosen from among rural banks nationwide serving women, farmers, fisherfolk, and micro, sma.....»»
ADB cuts Philippines growth outlook to 6% in 2024
The Asian Development Bank has trimmed its growth forecast for the Philippines for this year, citing risks posed by extreme weather events that can drive up inflation and the slower growth in advanced economies......»»
Moody’s outlook: Philippine banks remain on stable footing
Moody’s Investors Service has maintained a stable outlook for Philippine banks as interest rate cuts from the Bangko Sentral ng Pilipinas this year are seen to support economic recovery......»»
ADB approves USD 100 mln loan to support small and medium-sized enterprises in Sri Lanka
Manila [Philippines], March 19 (ANI): The Asian Development Bank (ADB) has approved a USD 100 million loan to provide small and medium-sized enterprises (SMEs) in Sri Lanka more access to finance and build their resilience to external shocks, such as the economic crisis and climate change. SMEs play a critical role in Sri Lanka's economy, contributing 52 per cent to the country's gross domestic product and employ 45 per c.....»»
CitySavings Named One of the 2024 Philippines’ Growth Champions
City Savings Bank (CitySavings) continues to cement its position to become the leading mass market bank in the country with its inclusion as one of the 2024 Philippines’ Growth Champions. The Philippine Daily Inquirer released the report with international market research firm Statista. This year’s Philippines’ Growth Champions are companies with remarkable growth and resilience […].....»»
Market falls amid worries over rate cuts, China growth
Share prices ended in the red for a third session after another dour day across global markets, fuelled by a sense of resignation that the interest rate cuts long expected in March will not materialize due to stubbornly high inflation......»»
PH Economy Remains Optimistic Amid Global Slowdown
The country is one of the fastest growing economies in East Asia and the Pacific according to the World Bank, foreseeing robust growth despite global economic slowdown. In the latest World Bank Global Economic Outlook report released on Tuesday, the Philippines is expected to maintain its economic growth rate in 2024 at 5.8%, slightly higher […].....»»
S& P: Philippines may miss growth goal this year
S&P Global Ratings sees the Philippines again missing its growth targets this year as it kept its gross domestic product growth forecast at 5.9 percent. While the projection is better compared to other economies in the region, it is again below the government’s 6.5 to 7.5 percent growth target......»»
Household cuts rice consumption
Household cuts rice consumption.....»»
Faster inflation could delay interest rate cuts – BDO
Faster inflation could delay monetary policy rate cuts from the Bangko Sentral ng Pilipinas , according to an official from BDO Trusts and Investments, the investment arm of BDO Unibank Inc......»»
Gradual BSP rate cuts likely by Q3
The Bangko Sentral ng Pilipinas is expected to make gradual interest rate cuts starting in the third quarter of the year, according to global banking giant Citi......»»
Gov t cuts growth target to 6%-7% — NEDA
In a press briefing with the members of the press on Thursday, Balisacan said that the country's economic growth target had been revised following a careful consideration of factors such as the global economic slowdown, rising oil prices and inflation trends......»»
BPI sees stronger credit growth
Bank of the Philippine Islands expects a robust growth in credit this year amid the country’s economic expansion and the planned interest rate cuts by the Bangko Sentral ng Pilipinas......»»
PH Remains One of the Fastest Growing Economies in East Asia and Pacific, World Bank Says
The World Bank retains its positive outlook on the Philippine economy despite foreseen challenges. According to their April 2024 East Asia and Pacific Economic Update, the World Bank projects a 5.8 percent economic growth for the Philippines this year — the East Asia and Pacific region’s second fastest-growing economy. Moreover, the said update also adjusted […].....»»
NEDA Optimistic on Economic Growth in the PH for 2024
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan expressed optimism about the country’s economic growth for 2024. According to Balicasan, major development organizations like the IMF, ADB, and the World Bank expect the country to have an economic growth rate of at least 6%. The IMF projects a growth rate of 6.2%, the ADB […].....»»
Philippine government retains 6.5 to 7.5 pct GDP growth target for 2024
MANILA, Jan. 26 (Xinhua) -- National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Friday expressed optimism that the Philippine government will achieve a gross domestic product growth of 6.5 percent to 7.5 percent in 2024. "This growth will be supported by low and manageable inflation, a labor force with access to more and better jobs, a stronger fiscal position in the form of a lower.....»»
Philippine government retains 6.5 to 7.5 pct GDP growth target for 2024
MANILA, Jan. 26 (Xinhua) -- National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Friday expressed optimism that the Philippine government will achieve a gross domestic product growth of 6.5 percent to 7.5 percent in 2024. "This growth will be supported by low and manageable inflation, a labor force with access to more and better jobs, a stronger fiscal position in the form of a lower.....»»