Bank lending to the agricultural sector, historically low and problematic, showed promise in latest survey jointly conducted by the Bangko Sentral ng Pilipinas (BSP) and the Agricultural Credit Policy Council (ACPC), which works under the Department of Agriculture (DA).
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.
BDO Unibank Inc. (BDO) has partnered with VITRO Inc., the data center arm of the PLDT Group, to finance and support the country’s most advanced data center, VITRO Santa Rosa (VSR).
Voltai, a startup under Aboitiz Power Corp.’s 1882 Energy Ventures, has rolled out the country’s first large-scale battery swapping ecosystem for electric two-wheel vehicles, aimed at fleet-based businesses.
Philex Mining Corp. plans to begin operations at its Silangan copper-gold project in Surigao del Norte by the first quarter of next year, even if it has yet to secure a development partner.
PLDT Inc. announced Wednesday that Anastacio R. Martirez has resigned as chief operating officer of Smart Communications Inc., amid allegations of a toxic workplace culture under his leadership.