MANILA, Philippines — Budget carrier Cebu Pacific on Thursday announced it will fly again to key Asian destinations from Manila next month in a bid to “slowly rebuild its international flight network” as the aviation industry faces a long haul to recovery. In a statement, the Gokongwei-led airline said planes will take off from the capital […]
Read MoreMANILA, Philippines — The Asian Development Bank (ADB) has laid down a pipeline of 11 projects worth $4.2 billion for this year which include projects crucial to pandemic response. ADB said this will be a record lending for the Philippines, coming from $2.5 billion total lending last year, and precedes an indicative lending program of […]
Read MoreMANILA, Philippines — The worst may be over for the Philippine economy as its contraction is seen to have bottomed out in May, the Asian Development Bank (ADB) said yesterday. In a briefing, ADB country director for the Philippines Kelly Bird said based on data collected in the first half of the year, economic contraction […]
Read MoreMANILA, Philippines — The Department of Budget and Management (DBM) has revised upward the proposed budget for 2021 to provide the government more funds to address the socioeconomic impact of the COVID-19 pandemic. In a text message, Budget Assistant Secretary Rolando Toledo said the proposed 2021 budget is raised to P4.506 trillion, 9.9 percent higher […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has approved the exclusion of debt securities held by market makers from the credit exposure limit to a single borrower as part of measures to maintain confidence and liquidity in the financial markets amid the global health crisis. BSP Governor Benjamin Diokno has issued a circular […]
Read MoreMANILA, Philippines — The net inflow of foreign direct investments (FDIs) plunged by 68 percent to hit an 11-month low of $311 million in April from $971 million in the same month last year as many investors put on hold their plans amid the uncertainties brought about by the COVID-19 pandemic, according to the Bangko […]
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