Growth across the economy this year is forecast to remain below its five-year average of 6.6 percent, according to the sovereign credit watcher Standard and Poor's.
The economy expanded at the rate of 5.7 percent in the first three months of the year in terms of the gross domestic product (GDP), slower than various analyst forecasts averaging 5.9 percent during the period but quicker than the adjusted but scaled-back growth of only 5.5 percent a quarter earlier, the Philippine Statistics Authority (PSA) said on Thursday.
Output growth averaging only 5.5 percent in the December quarter last year was seen accelerated to 5.8 percent in the quarter ended March this year, according to analysts at Moody's Analytics
The country' local output expansion, measured as the gross domestic product (GDP), is forecast to accelerate to 5.9 percent this year from last year's 5.6 percent, the sovereign credit watcher Standard and Poor's said in commentaries published at its website.
Banco De Oro Universal Bank (BDO Unibank) on Friday bared a new policy against financing the construction of new coal-fired power plants as a matter of course going forward.
Aboitiz Power Corp. is expanding its use of artificial intelligence (AI) and data analytics in coal-fired power plants across Luzon and Visayas as part of its modernization initiative, Project Arkanghel.
The Department of Agriculture (DA), the Sugar Regulatory Administration (SRA), and the Bureau of Customs seized four container vans carrying smuggled refined sugar during an inspection in Manila on Thursday, signaling heightened enforcement against agricultural smuggling.
Philippine Airlines Inc. (PAL) is preparing for a major fleet upgrade with the scheduled delivery of nine Airbus A350-1000 long-range aircraft, starting this year. The first unit is expected to arrive by year-end, the flag carrier announced.