Top News
Rice prices continue easing; other commodities see price rise
The Philippine Statistics Authority (PSA) recorded mixed movements in the prices of agricultural commodities in mid-January, with potential implications for inflation. January inflation data are due 5 February.
JG Summit shuts down petrochemical operations amid losses
JG Summit Holdings Corp., led by the Gokongwei family, has decided to cease operations at its petrochemical business, JGSOC (JG Summit Olefins Corp.), citing persistent losses and unfavorable market conditions in the global petrochemical industry.
Philippine economy expands 5.6% in 2024, misses target
The Philippine economy showed resilience in 2024, posting a 5.6 percent year-on-year growth in gross domestic product (GDP), despite challenges such as the contraction in agriculture due to El Niño and a series of storms. However, this growth fell short of the government’s target of between 6.0 percent and 6.5 percent.
ADB approves $500M loan for Philippine labor reforms
The Asian Development Bank (ADB) has approved a USD500 million policy-based loan to support the Philippine government in enhancing labor market programs aimed at improving the productivity and employability of Filipino workers. The loan will also assist in transforming the country’s investment environment to better support job creation and inclusive economic growth.
ADB approves $500M PH disaster resilience loan
The Asian Development Bank (ADB) has approved a $500 million policy-based loan to bolster the country’s disaster resilience and response capacity. The loan will support the Second Disaster Resilience Improvement Program, aimed at improving the country’s ability to manage natural hazards and health-related emergencies, ensuring quicker recovery and minimizing economic disruptions.
