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Senate, House at loggerheads over People’s Initiative, may lead to bickering that stalls economic recovery

A constitutional crisis that could derail the country’s economic recovery from the COVID-19 pandemic is looming , with the Senate and the House of Representatives take polar positions on the ongoing People’s Initiative to revise the Philippine Constitution.

Public sector taps $1.32 billion more loans in 4Q23

The government sector borrowed USD1.32 billion more in medium- to long-term (MLT) funds in the final three months of 2023, which was 66 percent more than that borrowed a year earlier, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.

Onion import ban could last beyond May – Laurel

The Department of Agriculture (DA) on Sunday reiterated the likelihood for the onion import ban to last beyond May or even June as part of measures helping shield onion growers from unreasonable farm gate prices and the destruction of their crops. 

Buoyant Q4 palay prices make for happy farmers at diners’ expense – PSA data

The price of palay or unhusked rice per kilo in the final three months of 2023 averaged P21.81, a 6.4 percent increase from third-quarter prices and 25 percent more than the year-earlier period.

Anticipated drop in mortgage rates seen boosting residential, industrial space development

An expected monetary policy easing this year—and consequently a drop in mortgage rates--should bolster demand for residential projects and industrial space, the latest edition of Colliers Research said.

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Digital lender launches CIMB Prime with 3.5% interest rate and zero fees

CIMB Bank Philippines has introduced CIMB Prime, a new premium banking segment offering higher interest rates, reduced fees, and priority customer service for qualified clients.

Philippines courts hybrid export hub with Mitsubishi

The Department of Finance said Monday the Philippines is on track to produce its first locally manufactured hybrid vehicles, as Mitsubishi Motors Corp. advances plans to set up dedicated hybrid electric vehicle (HEV) production at its Philippine unit’s plant in Santa Rosa, Laguna.

Philippines pushes inclusive, resilient ASEAN finance agenda

As this year’s chair of the Association of Southeast Asian Nations (ASEAN), the Philippines will steer a round of financial talks, setting the tone for deeper regional cooperation to boost economic activity and expand financial inclusion across Southeast Asia.

NTA steps in to resolve tobacco pricing, grading issues

The National Tobacco Administration (NTA) has ordered its branch offices to quickly arrange talks between tobacco farmers and buyers whenever disputes arise, especially on grading and pricing.

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