Tag: Pope Francis

The country’s gross international reserves (GIR) reached US$104 billion as at end-May this year, according to preliminary figures from the Bangko Sentral ng Pilipinas (BSP). This reflects a slight drop from the previous month, caused mainly by the national government withdrawing funds from its foreign currency deposits with the central bank to pay off foreign debts, lower value of the BSP’s gold holdings due to falling global gold prices, and net foreign exchange transactions carried out by the central bank.

The Philippine automotive industry is renewing its push for a performance-based incentive program similar to the discontinued Comprehensive Automotive Resurgence Strategy (CARS), arguing that both internal combustion engine (ICE) and electrified vehicle production will be necessary to sustain local manufacturing and meet evolving market demand.

Janytte Siega is stepping into one of the most significant roles in the Philippine meetings and events industry as SM Hotels and Conventions Corp. (SMHCC) taps the seasoned hospitality executive to lead SMX Convention Center Seaside Cebu ahead of its scheduled opening in November 2026.

The Philippines and Japan have broadened their agricultural cooperation to include fisheries, upgrading a 2023 agreement through an enhanced Memorandum of Cooperation (MOC) signed during President Ferdinand R. Marcos Jr.’s state visit to Japan. Signed by Agriculture Secretary Francisco P. Tiu Laurel Jr. and Japanese Agriculture Minister Norikazu Suzuki, the expanded pact aims to speed up technology transfer, modernize both sectors, and strengthen food security amid climate risks, higher production costs, and rising food demand.