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The Philippines experienced disruptions from a global Microsoft outage on Friday, affecting banking and airline services. The state-run Land Bank of the Philippines reported that its digital channels are now restored after the outage, which also caused…
The Philippine peso is expected to strengthen to 57 per US dollar in the third quarter as the US economy shows signs of slowing down. According to a quarterly forecast by London-based Capital Economics, the peso may…
MANILA, Philippines — The Philippine peso dropped to a 20-month low at the end of a turbulent trading week, following a regional decline as the stronger US dollar impacted emerging market currencies. The peso closed at 58.8…
MANILA — The Philippine peso touched the 58-per-dollar level for the first time in almost two years during the morning trade on Tuesday. As of 9:47 a.m., the local currency’s weakest showing stood at 58 against the…
The Philippine economy is expected to grow faster this year, but it might not reach the government’s target due to the impact of the El Niño climate phenomenon on food supply and the risk of high inflation.…
Bank of America’s (BofA) recent report pointed out that the Philippines, along with China, Hong Kong, and Taiwan, are still struggling to catch up in tourism recovery compared to other parts of Asia, as tourist arrivals in…
MANILA, Philipines — The Philippine Statistics Authority reported Thursday that the number of unemployed Filipinos decreased in February to 1.8 million, down from 2.15 million in January. That brought the country’s unemployment rate to 3.5 percent, lower…
MANILA, PHILIPPINES — The Marcos administration doesn’t expect the peso to reach 58 per dollar this year anymore due to lower import forecasts. Now, the interagency Development Budget Coordination Committee (DBCC) predicts the peso will average between…
Finance Secretary Ralph Recto announced that there won’t be any new taxes for the rest of the Marcos administration. He emphasized the government’s focus on reducing unnecessary spending and enhancing revenue collection efficiency to improve its financial…
MANILA, Philippines — The local creative economy surged ahead in 2023, surpassing national output growth to reach a total value of P1.72 trillion. This sector not only generated more jobs but also made a significant contribution to…
MANILA, Philippines — The jobless rate in the country rose in January to 4.5 percent from December’s record low of 3.1 percent. This increase was accompanied by a decrease in the number of people looking for jobs.…
MANILA, Philippines — The government’s outstanding debt rose in January due to a weak peso and after the Marcos administration borrowed more from local creditors than what it paid for its maturing liabilities, the Bureau of the Treasury (BTr)…
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