Banking & Insurance
2024 BOP still a surplus at USD609M but 16 percent lower vs 2023
The country's balance of payments (BOP) position for the fourth quarter of 2024 shifted to a deficit of USD4.5 billion, a stark contrast from the USD1.9 billion surplus recorded in the same period of 2023.
Food tops Filipino household spending, followed by housing and transportation – BSP Survey
In a recent survey conducted by the Bangko Sentral ng Pilipinas (BSP), food and beverages consumed at home were found to be the largest expenditure for Filipino households, comprising 55.4 percent of their total spending in 2021.
ADB funds flood mitigation projects
The Department of Public Works and Highways (DPWH) is set to receive funding from the Asian Development Bank (ADB) to support major flood mitigation initiatives that address recurring flooding and enhance community resilience across the Philippines.
New guidelines seen boosting asset sale, present investment opportunities for Filipinos
The government’s privatization program has received a significant boost with the issuance of new guidelines by the Privatization Council (PrC), expediting the disposition of non-performing public assets. Finance Secretary Ralph G. Recto said the guidelines will not only generate additional non-tax revenue but also offer investment opportunities for ordinary Filipinos.
IFC appoints Amena Arif as new country manager for PH
The International Finance Corporation (IFC), the private investment arm of the World Bank Group, has appointed Amena Arif as its new country manager for the Philippines. In this role, Arif will focus on mobilizing private sector investments to promote job creation, mitigate the impacts of climate change, and enhance financial inclusion across the country.
