Foreign direct investments (FDI) that fell at an annual clip of 34 percent in May continued to fall in June but at a significantly moderate rate of only 3.9 percent in June, the Bangko Sentral ng Pilipinas (BSP) said on Monday.
The Philippines’ balance of trade with the rest of the world still showed a wide deficit in July, with exports still lagging the value of products bought by the country to sustain the economy.
Trade in global goods showed signs of a turnaround in the second quarter of 2023, driven by strong automobile production and sales, according to the World Trade Organization (WTO).
The Philippine economy lost more than 4 million jobs between July and June this year, with data released Friday by the Philippine Statistics Authority showing the number of employed Filipinos plunging to 44.6 million in July from 48.8 million in June.
The Bank of the Philippine Islands (BPI) is moving into the last phase of its merger with Robinsons Bank, with a final system update scheduled to unify operations and deliver a more streamlined banking experience for all customers.
The Japan Maritime Self-Defense Force vessel JS IKAZUCHI docked at the Port of Davao to reinforce longstanding friendship and growing cooperation between Japan and the Philippines. Its crew held meetings with Philippine Navy officials, including Naval Force Eastern Mindanao chief Commodore Ireneo D. Battung, to highlight joint efforts for regional stability and maritime security.
Saudi Arabia-based ACWA Power has signed a lease agreement with the Bases Conversion and Development Authority (BCDA) for a 500-hectare site in New Clark City, paving the way for a utility-scale solar and battery storage project that could attract up to USD200 million in investments and supply clean power to emerging industries in Central Luzon.
The Department of Agriculture (DA) has expanded market monitoring nationwide to strictly enforce the P50 per kilogram price ceiling for imported rice with 5 percent broken grains. In a statement Tuesday, the agency reported that compliance has steadily improved since the measure took effect, reaching 47.42 percent in the latest round of simultaneous inspections across Metro Manila and other regions. The increase is credited to more frequent checks and stronger presence of law enforcement in public markets.