Tourist arrivals in the Philippines surged by 14 percent year-on-year in the first five months of this year, reaching 2.56 million, despite a double-digit decline in the arrivals of Filipinos living overseas, based on data from the Department of Tourism.
The National Food Authority (NFA) has purchased 3.32 million 50-kilo bags of palay as of 5 June this year of which over 3.17 million bags were purchased from rice farmers the past six weeks.
Fitch Ratings has kept the country's standing as an investment grade issuer or one whose sovereign debt is rated a triple B or BBB, the Bangko Sentral ng Pilipinas said.
Monetary board member Anita Linda Aquino, just under four years as member of the policy-making body of the Bangko Sentral ng Pilipinas, has resigned in the wake of a scandal involving ghost central bank employees.
The government is moving to safeguard fuel and fertilizer supplies for the sugar industry as the sector enters the most resource-intensive phase of the harvest season.
Transportation Secretary Giovanni Lopez has directed the Civil Aviation Authority of the Philippines (CAAP) to reduce Passenger Service Charges (PSC) and airport navigation fees in airports operated by the agency.
Universal Robina Corp., the listed food unit of the Gokongwei Group, posted modest revenue growth last year but saw profits ease as unusually high coffee input costs squeezed margins, highlighting how volatile commodity prices continue to challenge food manufacturers.
Economic ministers of the Association of Southeast Asian Nations on Friday called for urgent de-escalation of tensions in the Middle East, warning that prolonged conflict could ripple across global energy markets and threaten Southeast Asia’s fragile economic recovery.