The Department of Agriculture (DA) declared a food security emergency on Monday that allowed the National Food Authority (NFA) to release buffer stocks for public sale. The declaration, signed by DA Secretary Francisco Tiu Laurel Jr., comes in the wake of persistent price increases that have not aligned with global market trends or previous tariff reductions.
The Philippine Chamber of Telecommunications Operators (PCTO) has raised alarms over the Konektadong Pinoy bill, a key legislative measure designed to expand internet access and encourage new players in the telecom sector.
Foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) through authorized agent banks (AABs) took the high path in 2024, with net inflows totaling USD2.1 billion, a sharp turnaround from the previous year's outflows. This marked a significant 39.2 percent increase from 2023, which saw USD12.9 billion in investments.
The Philippine Statistics Authority (PSA) recorded mixed movements in the prices of agricultural commodities in mid-January, with potential implications for inflation. January inflation data are due 5 February.
The Philippine economy showed resilience in 2024, posting a 5.6 percent year-on-year growth in gross domestic product (GDP), despite challenges such as the contraction in agriculture due to El Niño and a series of storms. However, this growth fell short of the government’s target of between 6.0 percent and 6.5 percent.
The Bank of the Philippine Islands (BPI) is reinforcing its commitment to empowering Filipinos by enhancing accessibility to its services. Through its suite of retail loan products, BPI is helping make vehicle, home, and motorcycle ownership more achievable while offering special anniversary rates, waived fees, and exclusive partner discounts.
AllHome Corp., the retail and wholesale arm of the Villar Group, reported a steep decline in profit for the first half of the year, citing soft demand for construction and furnishing products amid a sluggish real estate market.
Federal Reserve Chair Jerome Powell signaled Friday that the U.S. central bank may cut interest rates at its next policy meeting in September, citing growing risks to the labor market and ongoing inflation pressures.
Agriculture Secretary Francisco P. Tiu Laurel Jr. has instructed the Rice Industry Development Office (RIDO), led by Undersecretary Christopher Morales, to closely examine the apparent shift in Filipino rice preferences, as demand for imported rice—particularly Vietnamese varieties—continues to grow.