The trade deficit widened in October to USD4.17 billion as the value of exports fell more sharply compared to the decline in the value of the country’s imports.
The International Monetary Fund's No. 2 official on Monday warned that fragmentation in the global economy and clear shifts in underlying bilateral trade could trigger a "new Cold War" given the conflict in Ukraine and U.S.-China tensions.
The export sector has yet to exploit an untapped revenue source estimated at some USD49 billion for a number of reasons, chief among them the sector's inability to diversify, among other critical factors.
The Philippine Center for Post-harvest Development and Mechanization (PhilMech), an adjunct of the Department of Agriculture, has turned over P398.5 million worth of agricultural machinery to the province of Nueva Ecija.
Maya has begun rolling out cards made from recycled plastic (rPVC) and plans to transition all newly produced prepaid cards to recycled materials by the end of the year as part of its sustainability commitment.
The Philippine Chamber of Commerce and Industry (PCCI) believes the Bureau of Internal Revenue (BIR) may finally be turning a page on one of the private sector's longest-running frustrations: a tax system often seen as costly to comply with and difficult to navigate.
The Philippines is making its pitch to become more than a consumer of artificial intelligence. It wants a seat at the table where the chips, data centers, and investments are being built.
President Ferdinand R. Marcos Jr. is heading to Canada next week with an investment-heavy agenda, seeking to translate growing bilateral ties into fresh capital for industries expected to shape the Philippines' next phase of economic growth.