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Argentina permitted to tap IMF bailout
The Latin American country is heading towards 200% inflation amid the worst economic crisis in decades The International monetary Fund (IMF) has agreed to unlock $4.7 billion for Argentina as part of a debt restructuring plan even though the country missed targets related to its $43 billion loan program, the fund anno.....»»
Race for global economic dominance sees striking turn of fortunes - ex-IMF official
The assumption that China will eventually overtake the US as the world's largest economy now seems less certain, Eswar Prasad has said The US has extended its lead over China in the race for the globe's largest economy, Bloomberg reported on Friday. The American economy defied forecasts in outperfo.....»»
IMF hikes Philippines 2024 growth target
The International Monetary Fund upgraded its 2024 economic growth forecast for the Philippines amid the stronger rebound in investments and exports......»»
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 […].....»»
The Future of Work: AI’s Double-Edged Sword for Global Economies
Artificial Intelligence (AI) holds promise in revolutionizing global productivity and economic growth. However, the flip side includes potential job displacement and a widening wealth gap. Without proper policies, nations may struggle to adapt to this emerging technology. The International Monetary Fund (IMF) indicates that nearly 40% of global jobs could be influenced by AI. In […].....»»
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......»»
Cebu City Council slashes Rama’s proposed P100B budget to P25B
CEBU CITY, Philippines — Cebu City Mayor Michael Rama’s proposed P100 billion budget for 2024 was reduced to P25 billion by the City Council, which overrode the mayor’s veto. Councilor Jocelyn Pesquera, vice chairperson of the council’s Committee on Budget and Finance, confirmed the decision on Wednesday, Jan. 24, emphasizing that all provisions in the.....»»
Tesla lays off top performers and slashes departments, sources say
In a surprising turn of events, Tesla has announced layoffs impacting over 10% of its global workforce as the company prepares for its next phase.....»»
Nickel Asia sees better ore output, slashes capex
Nickel Asia Corp expects better ore output this year, driven by the start of two new mine operations and the possible increase in global nickel prices......»»
Summer is officially here, says Pagasa
Friday, March 22, 2024, has been declared as the official start of the summer season by the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa). Dr. Nathaniel Servando, Pagasa chief, announced this during a press briefing, today. READ: Pagasa forecasts two days of 46°C heat index in La Union “Today, we officially declare the start of.....»»
Love and relationship ‘forecasts’ for stars after breakup
What does the future hold for love and relationships, whether you’re a celebrity or just like us regular folks?.....»»
Nvidia exceeds expectations with strong results and forecasts as China sales decline significantly
Nvidia (NVDA) Exceeds Expectations with Strong Fourth-Quarter Earnings Graphics chip giant Nvidia (NVDA) has reported fourth-quarter earnings that surpassed analysts’ expectations, both on the top.....»»
ChatGPT – Year of the Dragon
The bull market in stocks was driven by the enthusiasm over artificial intelligence and the myriads of possibilities that it offers. Considering this and the upcoming Chinese New Year, we thought it was appropriate to ask ChatGPT, OpenAI’s chat bot, about its forecasts for the year of the dragon......»»
Shear line-induced disaster death in Davao Region climbs to 12
Summary: The Davao Region has witnessed a devastating toll with 12 reported casualties due to the ongoing shear line surge and localized thunderstorms, leading to widespread flooding in eastern sections of Mindanao. In Monkayo, 10 lives were lost during a prayer meeting, with one person still missing and a child hospitalized. Financial assistance and support are being provided to the affected families. In Davao City, two individuals were buried alive in separate incidents. The Regional Disaster Risk Reduction and Management Council has raised the alert status to closely monitor the situation. The state weather bureau forecasts continued adverse weather conditions in the coming days......»»
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 […].....»»
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......»»
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.....»»
Double-digit growth in bank lending seen this year
The Philippine banking sector is expected to book double-digit growth in loan disbursements this year on the back of robust economic growth, according to BMI Country Risk & Industry Research......»»
India, Philippines have seen very perceptible growth in recent times: Jaishankar
Manila [Philippines], March 26 (ANI): Hailing ties between India and the Philippines, External Affairs Minister S Jaishankar, who is on a visit to the Philippines on Tuesday, said that ties between Delhi and Manila have witnessed a very perceptible growth in recent times. Addressing a joint press briefing with Philippine Secretary of Foreign Affairs Enrique Manalo, Jaishankar said, "As you all know, India's ties with the.....»»