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    ADB approves $500M loan for Philippine labor reforms

    The Asian Development Bank (ADB) has approved a USD500 million policy-based loan to support the Philippine government in enhancing labor market programs aimed at improving the productivity and employability of Filipino workers. The loan will also assist in transforming the country’s investment environment to better support job creation and inclusive economic growth.

    ADB approves $500M PH disaster resilience loan

    The Asian Development Bank (ADB) has approved a $500 million policy-based loan to bolster the country’s disaster resilience and response capacity. The loan will support the Second Disaster Resilience Improvement Program, aimed at improving the country’s ability to manage natural hazards and health-related emergencies, ensuring quicker recovery and minimizing economic disruptions.

    Agriculture struggles: Economic decline in Q4 2024 and full year performance

    Agricultural production in the Philippines fell by 2.2 percent in the fourth quarter of 2024, marking a reversal from the 0.9 percent increase seen in the same period last year.

    ADB invests $100M to power Ayala Corporation’s electric mobility vision in PH

    The Asian Development Bank (ADB) has secured a financing package of up to USD100 million to support Ayala Corporation’s efforts to build a sustainable electric mobility ecosystem in the Philippines. The funding will be directed towards the procurement and installation of electric vehicle charging stations (EVCS) and the purchase of electric vehicles for commercial use, accelerating the country’s transition to cleaner transportation.

    Monetary Board approves $3.21B public sector foreign borrowings in 4Q 2024

    The Bangko Sentral ng Pilipinas (BSP) has approved USD3.21 billion in medium- to long-term foreign borrowings for the public sector in the fourth quarter of 2024.

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    Fuel price hikes set this week

    Motorists and businesses should brace for another round of fuel price increases this Tuesday, with Jetti Petroleum Inc. projecting hikes of P0.60 to P0.80 per liter for gasoline and P0.30 to P0.50 per liter for diesel. Kerosene is also expected to rise by around P0.10 per liter, according to the Department of Energy (DOE).

    Marcos Jr. gov’t urged to greenlight national logistics backbone project within term

    The consortium behind the proposed breakthrough national logistics integrated backbone project has reaffirmed its commitment to complete the infrastructure program within the remaining years of President Ferdinand R. Marcos Jr.'s administration — provided swift government action is taken.

    Globe, Google complete successful trial of wireless optical tech

    Globe Telecom Inc., together with its subsidiary Fiber Infrastructure and Network Services Inc. (FINSI), has successfully completed a landmark field trial of Google's TAARA Free Space Optics (FSO) technology, achieving a 10Gbps wireless optical connection over 11 kilometers.

    DICT, Kintsugi forge digital transformation deal

    The Department of Information and Communications Technology (DICT) has signed a memorandum of understanding (MOU) with global tech firm Kintsugi to establish a strategic partnership aimed at advancing the Philippines’ digital transformation.

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