By Rose de la Cruz The International Monetary Fund is giving a more realistic projection for the country’s economic growth citing the continued elevated inflation which would likely continue to weigh on domestic demand. The IMF cut the country’s gross domestic product outlook for 2024 to 5.8 percent from its previous 6 percent projection and for 2025 at 6.1 percent, …
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By Rose de la Cruz For the sake of transparency and to reduce fraud and misuse of funds– frequently occuring in the bidding and awarding of procurements and projects– the World Bank is urging the government to increase the participation of civilian watchdogs in such processes. “Civil society organization (CSOs) often act as watchdogs, ensuring that the bidding process is …
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By Rose de la Cruz The Asian Development Bank, long regarded as a meticulous and prudent lender of mostly Asian governments, is facing intense scrutiny over its oversight in the controversial airport fee hikes, which had not passed through the Cabinet for approval, making President Marcos very angry. A source of Bilyonaryo said industry stakeholders are asking why ADB– the …
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By Nicole Hermione Atayde TAGUIG, Philippines—CIVIC Merchandising Incorporated, a leading force in the heavy equipment sector, recently celebrated its 50th anniversary with a grand event attended by its valued partners and esteemed guests last September 17. Established in 1974, CIVIC has evolved from a spare parts business to selling used equipment and becoming a dealer of major international brands such …
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The U.S. Embassy in the Philippines invites students and parents to attend the 9th EducationUSA University Fair in Manila on October 8, from 3:00 p.m. to 8:00 p.m., at the Atrium of One Ayala Mall, Makati City, to learn more about study abroad opportunities in the United States. Forty-three U.S. colleges and universities will participate in this year’s event, making it …
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Manila International Container Terminal (MICT), the flagship of International Container Terminal Services, Inc. (ICTSI) at the Port of Manila, received the inaugural call of CMA CGM Passion—the first liquefied natural gas (LNG)-powered container vessel to dock at the terminal—on 26 September. The 7,327-TEU CMA CGM Passion operates under CNC’s KCS service, which offers direct sailings between South China and the …
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By Rose de la Cruz Two of the country’s billionaires– one is renowned as among the wealthiest woman in Asia and the other a self-made man of hardwork and fortune– showed us all lessons on humility and gratitude despite their awesome power and wealth. Tessie Sy Coson, vice chair of the country’s biggest universal banks and active and hardworking heiress …
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President Ferdinand R. Marcos Jr. on Friday inaugurated the 3.17-kilometer Panguil Bay Bridge, the longest sea-crossing bridge in Mindanao, aimed at boosting connectivity and spurring economic growth in the region. The P8.026-billion project, spearheaded by the Department of Public Works and Highways (DPWH), connects Tangub City in Misamis Occidental with Tubod town in Lanao del Norte. The construction of the …
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Senate President Francis Escudero and Speaker Martin Romualdez assured the timely passage of House Bill 10800, the General Appropriations Bill (GAB), which outlines the proposed P6.352-trillion national budget for 2025. Romualdez, during a Palace briefing, confirmed that the GAB would be submitted for third and final reading by Wednesday night (last week), making it ready for swift transmission to the …
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The Commission on Elections (Comelec) has given the green light for the inclusion of 10 Enlisted Men’s Barrios (EMBO) barangays in the two legislative and councilor districts of Taguig City. In a resolution issued on September 25, the Commission en banc approved recommendations from the Election Records and Statistics Department (ERSD) and the Office of the Deputy Executive Director for …
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The Market Monitor Minding the Nation's Business