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Jobless rate in April eases to 4% from 4.5% year-earlier — PSA

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The unemployment rate in the Philippines declined in April to 4 percent from 4.5 percent in the year-ago period, with the economy creating more jobs in industry and services to take up the slack in agriculture because of the adverse impact of El Nino on the farm sector.

Inflation nudges higher in May to 3.9%

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Inflation nudged higher in May to 3.9 percent, lower than most analysts' forecasts averaging 4 percent, versus only 3.8 percent in April, the Philippine Statistics Authority said on Wednesday.

NEDA Board slashes rice import duty to 15% from 35% to tame inflation

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The NEDA Board, chaired by President Ferdinand Marcos Jr., has approved the reduction of tariff on rice to 15 percent from 35 percent to substantially lower the cost of the staple and ease its impact on inflation, whose elevated level has kept the central bank from cutting interest rates to help spur greater economic activity.

Government outstanding debt rise to P15.02 trillion in April

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The total outstanding debt of the national government in April reached P15.02 trillion, marking a rise of P91.50 billion or 0.61 percent from March 2024. 

Luzon 2023 port collection up even as Visayas ports prove a disappointment

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The various ports across the country posted revenue collection averaging 2.5 percent more in 2023 than in previous year, based on preliminary data generated by the Bureau of Customs in April this year.
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Final system integration set for BPI-Robinsons Bank merger, services temporarily unavailable 6 June

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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.

Japan Navy ship makes goodwill visit to Davao

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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 energy giant ACWA Power invests in Clark

Energy & Mining 0
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.

Compliance with imported rice price cap hits 47% amid stricter DA checks

Agriculture 0
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.

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