The World Bank Group has approved a record USD1.02-billion financing package for the Philippines, backing reforms aimed at lowering electricity costs, strengthening water security and accelerating the country's transition to cleaner energy.
The Philippine government is pinning its next employment surge on three high-growth industries—business process outsourcing (BPO), semiconductors, and renewable energy, said Finance Secretary Frederick Go.
The World Bank expects Philippine economic growth to slow to 3.7 percent in 2026, down from 4.4 percent in 2025, according to its East Asia and Pacific (EAP) outlook released on April 8.
At least five million Filipino farmers are poised to benefit from a USD1-billion World Bank financing package aimed at accelerating a nationwide shift toward higher productivity, diversification, and climate resilience—an overhaul long seen as critical to stabilizing food supply and rural incomes.
The World Bank has approved an USD800-million financing package for the Philippines aimed at strengthening fiscal resilience, improving the business climate and equipping Filipino workers with skills needed for higher-quality jobs.
The Philippine Economic Zone Authority (PEZA) and Oman's Public Authority for Special Economic Zones and Free Zones (OPAZ) have identified four priority industries for deeper investment cooperation, as both countries seek to strengthen trade and position their economic zones as complementary gateways to regional markets.
The Department of Agriculture announced Tuesday that 56 boxes of Davao durian, weighing 1.08 metric tons and worth around P183,000 ($3,000), have been sent to Oman. The shipment from Engseng Food Products of Davao City is bound for Jeel Almaaly International in Al Dakhiliyah Governorate.
Petron Corp. reported a 28 percent fall in first-half net income to P3.8 billion from P5.3 billion a year earlier, the company said Tuesday. The decline was mainly due to Middle East tensions pushing crude, import and freight costs higher. Dubai crude averaged $91 a barrel, up 27 percent year-on-year.
Singapore-based Universal Success Enterprises Limited (USEL) is exploring investments in logistics parks and data centers in the Philippines, underscoring growing foreign interest in sectors benefiting from the country's expanding digital economy and infrastructure buildout.