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Unemployment rate eases to 4.1 percent in May; 48.87 million Filipinos with jobs

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Unemployment rate in the Philippines eased in May to 4.1 percent from 4.3 percent in the same period last year as the economy generated more jobs, helped by increased spending on infrastructure development.

NG debt hits P15.35 trillion in May

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Outstanding Philippine national government (NG) debt totalled P15.35 trillion in May, an increase of P330.39 billion, or 2.2 percent, from end-April level. This was primarily attributed to the impact of local currency depreciation on the value of NG's foreign-currency denominated debt.

DOTr plans hailing trainmaker CRRC Dalian before Court of Arbitration in Singapore

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The Department of Transportation (DOTr) plans hailing CRRC Dalian, the Chinese train manufacturer, before the Court of Arbitration in Singapore over alleged non-compliant trains delivered to the MRT-3 system but have never been used. 

NG debt payments push GIR level lower in June

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The country’s gross international reserves (GIR) level, an indicator of capacity to pay the country's obligations as and when they fall due, eased to USD104.70 billion as of end-June 2024 from the year-ago level of USD105.02 billion.

June inflation eases to 3.7% from level in May

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The Philippines' headline inflation moderated to 3.7 percent in June 2024 from 3.9 percent in May, signaling a slight deceleration in overall price level
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PEZA, Oman target investments across four strategic industries

Trade & Investments 0
The Philippine Economic Zone Authority (PEZA) and Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) have identified four priority industries for deeper investment cooperation, as both countries seek to strengthen trade and position their economic zones as complementary gateways to regional markets.

Davao durian shipped to Oman in new trial export

Agriculture 0
The Department of Agriculture announced Tuesday that 56 boxes of Davao durian, weighing 1.08 metric tons and worth around P183,000 ($3,000), have been sent to Oman. The shipment from Engseng Food Products of Davao City is bound for Jeel Almaaly International in Al Dakhiliyah Governorate.

Petron net income drops 28% on high oil costs

Corporate 0
Petron Corp. reported a 28 percent fall in first-half net income to P3.8 billion from P5.3 billion a year earlier, the company said Tuesday. The decline was mainly due to Middle East tensions pushing crude, import and freight costs higher. Dubai crude averaged $91 a barrel, up 27 percent year-on-year.

Singapore’s USEL eyes Philippine logistics, data center investments

Transport & Logistics 0
Singapore-based Universal Success Enterprises Limited (USEL) is exploring investments in logistics parks and data centers in the Philippines, underscoring growing foreign interest in sectors benefiting from the country's expanding digital economy and infrastructure buildout.

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