Top News
BOP swings to deficit of $298M in May, reversing year-ago surplus
The country's balance of payments (BOP) stood as a deficit of US$298 million in May, reversing the US$2 billion surplus recorded in the same month last year, according to data released by the Bangko Sentral ng Pilipinas (BSP).
BSP cuts key rate by 25bps as inflation outlook eases
The Bangko Sentral ng Pilipinas (BSP) reduced its benchmark interest rate by 25 basis points on Thursday, as the monetary board responded to a more favorable inflation outlook and signs of slowing global economic activity.
Tourism fuels economy, creates jobs in 2024
The Philippine tourism industry continued its strong post-pandemic recovery in 2024, contributing 8.9 percent to the country’s gross domestic product (GDP) and supporting nearly 7 million jobs, according to the Philippine Statistics Authority (PSA).
Federal Reserve hold rates, eyes inflation, jobs paths
The Federal Open Market Committee (FOMC) on Thursday held the federal funds target range steady at 4.25 percent to 4.5 percent, citing steady economic growth and lingering inflationary pressures.
PH renews MRT-3 deal with Sumitomo ahead of system privatization push
The Department of Transportation (DOTr) will extend its maintenance contract with Japan’s Sumitomo Corp. for the MRT-3, signaling continuity in operations ahead of the planned privatization of the system's operations and maintenance (O&M).
