Philippines buys 250,000 tons of rice to boost stockpiles
THE NATIONAL FOOD AUTHORITY (NFA) purchased 250,000 metric tons (MT) of rice in a tender yesterday from suppliers in Vietnam, Thailand and Singapore, as...
DPWH, DoTr budgets get big boost
THE Budget department submitted to Congress on Tuesday the P4.506-trillion spending plan for 2021, where allocations for the Public Works and Transportation departments were increased significantly as the government hopes an aggressive infrastructure push will drive post-pandemic economic recovery.
Philippines cuts EV tariff to zero
Philippine President Ferdinand R. Marcos, Jr. has approved zero tariff on electric vehicles to encourage consumers to use “cleaner and greener” cars.
The tariff removal...
Philippines stays in SE Asian manufacturers’ lead
By Elijah Joseph C. Tubayan
Reporter
THE PHILIPPINES’ manufacturing performance bested those of Association of Southeast Asian Nations (ASEAN) counterparts for the third straight month in...
World Bank cites dev’t tasks ahead for PHL
THE PHILIPPINE economy needs to grow at least 6.5% annually if it is to turn “into a prosperous middle-class society free of poverty by 2040,” the World Bank said on Monday, describing this goal as challenging but attainable.
Southeast Asia-focused China fund raising up to $3 billion for Silk Road projects
HONG KONG -- A quasi-sovereign Chinese fund focused on Southeast Asia is targeting raising up to $3 billion in a new dollar fund, adding...
Eyes on the prize: How can local value chains genuinely benefit from extractive incentives?
THE PHILIPPINE government should ensure that its plan to incentivize the processing of critical minerals would benefit local players and prioritize domestic value chains, analysts said.
Palay production to rebound in 2025
LOCAL RICE PRODUCTION is expected to rebound in 2025, an analyst said, citing low base effects.
Another BSP off-cycle rate hike likely, economist says
THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected to raise rates by another 75 basis points (bps), an economist from the Bank of the Philippine Islands (BPI) said.
EC proposes extension of GSP+ scheme for PHL
THE EUROPEAN COMMISSION (EC) proposed to renew the Philippines’ participation in the European Union’s (EU) Generalized Scheme of Preferences Plus (GSP+) by another four...
Foreign trade decline continues in October
PHILIPPINE international trade performance shrank once again in October as imports declined for the 18th straight month and exports returned to negative territory.
GDP impact of budget delay carried over to second quarter — poll
ECONOMISTS expect gross domestic product (GDP) growth in the second quarter to have picked up from the first-quarter expansion, driven primarily by stronger household spending amid slower inflation, but weighed down by residual impact of delayed enactment of the 2019 national budget that was signed in mid-April.