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9 March

Job growth signals stronger labor market

Finance Secretary Ralph Recto welcomed the creation of 2.6 million additional jobs for Filipinos at the start of 2025, expressing optimism over the increasing participation of youth in the labor market. “This good news affirms that our efforts to unlock the full potential of our demographic sweet spot are paying off. Through targeted government action and strategic reforms, we are …

9 March

Luzon grid placed under yellow alert

The National Grid Corporation of the Philippines (NGCP) issued its first yellow alert for the Luzon grid this year, citing insufficient operating margin as temperatures continued to rise. The alert was in effect from 5 p.m. to 7 p.m. on Wednesday. According to the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA), the highest heat index in Luzon reached 42°C …

9 March

CREATE MORE draws Japanese investors

Department of Trade and Industry (DTI) Secretary Ma. Cristina Roque said last week that the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law has encouraged Japanese companies to invest in the Philippines. Roque and Special Assistant to the President for Economic Affairs and Investments Secretary Frederick Go visited Japan from March …

9 March

February inflation slows to 2.1%

Inflation in February eased to 2.1 percent from 2.9 percent in January, primarily due to the slower price increase of food and non-alcoholic beverages, the Philippine Statistics Authority (PSA) reported. In a recent press briefing, PSA Assistant Secretary Divina Gracia del Prado attributed the decline to the Department of Agriculture’s (DA) declaration of a food security emergency, which helped lower …

9 March

DMCI, NAC explore new nickel processing plant

DMCI Mining Corp. and Nickel Asia Corp. (NAC) announced last week that they are exploring the development of a new nickel processing plant in the Philippines. This follows the signing of a memorandum of understanding (MOU) between the two companies on Tuesday to conduct a feasibility study for the project. The planned facility aims to process low-grade nickel ore, which …

9 March

WB to extend $2.75-B in loans to Phl

The World Bank (WB) is set to extend $2.75 billion in loans to the Philippines for fiscal year 2026, reflecting a 3.7 percent decrease from the $2.857 billion allocated for 2025. Despite the reduction, the lending program highlights the WB’s sustained commitment to supporting the country’s development efforts. WB Director for the Philippines, Malaysia, and Brunei Zafer Mustafaoğlu confirmed that …

9 March

Bank lending surges to highest level since 2022

Bank lending in the Philippines surged by nearly 13 percent in January, marking its highest growth rate since December 2022, while domestic liquidity also continued to expand, according to data from the Bangko Sentral ng Pilipinas (BSP). Preliminary BSP data released Thursday showed that loans extended by universal and commercial banks (U/KBs) grew by 12.8 percent in January, surpassing the …

9 March

DBP income jumps 20% to P7.1-B in 2024

State-owned Development Bank of the Philippines’ (DBP) net income surged to P7.1-billion in 2024—its highest in the past 10 years—representing a 20% increase from 2023 as the Bank ramped up its lending activities to key sectors in support of the Marcos, Jr. Administration’s socio-economic agenda, a top official said. DBP President and CEO Michael O. de Jesus said the Bank’s …

9 March

RCBC nets P9.5-B income last year

Rizal Commercial Banking Corporation delivered net income of P9.5B for the full year 2024, with double-digit growth of 26% in net interest income and a 40% expansion in consumer loans. The Bank’s total resources reached P1.4T by end 2024. Net income growth, without the non-recurring gains in 2023, was at 13.6% year-on-year, as core business maintains momentum. The bank’s net …

9 March

State fascism and Katherine Luna

Had it not the intervention of a clearer mind, award-winning actress Katherine Luna could have been just one of the numbers in the indiscriminate Extra Judicial Killings (EJKs) during the dreaded time of the Duterte administration’s war on drugs. If it could happen to ordinary mortals living in the slums or poor urban places all over the country, it could …

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March, 2025