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The government has lowered its medium-term economic and fiscal targets, adopting a more cautious outlook as global uncertainty, persistent inflation, and climate risks weigh on the Philippine economy, while reaffirming its commitment to long-term growth and fiscal stability.

President Ferdinand Marcos Jr. said more Filipino workers could receive higher minimum wages in the coming months as regional wage boards move closer to completing reviews that could lead to additional pay increases across the country.

Globe Telecom has introduced its new Globe Starlink service, delivering mobile connectivity to areas outside the reach of traditional cell sites, following its official launch in January and successful pilot tests earlier this year.

The Philippines' unemployment rate climbed to 4.8 percent in May, the highest in a year, as fewer Filipinos found work despite a modest month-on-month increase in employment, underscoring persistent cracks in the labor market. 

Inflation eased for a second straight month in June, offering consumers and businesses some relief from elevated prices, but a pickup in underlying price pressures could keep the Bangko Sentral ng Pilipinas (BSP) on course for another interest rate increase.