Philippines

Salmon, a financial technology company working to improve access to credit, savings and investments for over 500 million underserved customers in Southeast Asia, has received regulatory approval from the Bangko Sentral ng Pilipinas (BSP) to acquire the controlling interest in Rural Bank of Sta. Rosa (Laguna), a licensed financial institution serving Filipino communities since 1963.  Salmon will own 59.7% of …

The Philippines has turned to hackers for cybersecurity help as tensions with China rise over the disputed South China Sea. The Philippine government has hired hackers to test and improve its cyber defenses, and to conduct offensive cyber operations against its adversaries. The hackers, who are mostly former criminals or activists, have been recruited and trained by the Department of …

The Philippine National Railways (PNR) reopened its train line from Naga City in Camarines Sur to Legazpi City in Albay on December 27, 2023, after a six-year suspension due to a lack of train coaches and locomotives. The reopening of the train line, which covers a distance of over 100 kilometers, is expected to solve some of the problems faced …

The Philippines has been pursuing bilateral agreements with other claimants in the South China Sea, such as Vietnam, Malaysia, and Indonesia, in an attempt to counter China’s growing assertiveness and influence in the disputed waters.  However, a regional security analyst argues that this strategy is ineffective and counterproductive, and that the Philippines should instead focus on multilateral cooperation and dialogue. …

The Philippines is set to deploy Indian-made BrahMos supersonic cruise missiles to boost its maritime defense capabilities and deter China’s aggression in the South China Sea. The Philippine Navy has ordered three batteries of the BrahMos missile system, which can be launched from land, sea, or air platforms, and can hit targets up to 290 kilometers (180 miles) away with …

The Philippines has attracted four groups to bid for the $10 billion expansion and operation of the Manila international airport, one of the biggest infrastructure projects under President Ferdinand Marcos Jr.‘s administration. The Department of Transportation said on Tuesday that it received proposals from the following consortiums: Metro Pacific Investments Corp., Megawide Construction Corp., and GMR Infrastructure Ltd., which currently …

On December 25, 2023, a fierce firefight broke out between Philippine government troops and communist rebels in the southern province of Davao de Oro, leaving nine insurgents dead and two soldiers wounded.  The clash was one of the deadliest incidents in the decades-long armed conflict between the state and the New People’s Army (NPA), the armed wing of the Communist …

Philippine President Ferdinand Marcos Jnr has dismissed China’s warning against conducting oil and gas exploration in the disputed South China Sea, saying that his country will assert its sovereign rights and interests in the resource-rich waters. Marcos made the remarks on Monday, after China’s Foreign Ministry spokesman Zhao Lijian said last week that Beijing “firmly opposes” any unilateral actions by …

The Philippines government has proposed a P5.768 trillion budget for 2024, which includes a P500-billion cash assistance program for 48 million poor families affected by the COVID-19 pandemic.  The program, called the Social Amelioration Program (SAP), aims to provide monthly cash transfers of P2,000 to P4,000 per household, depending on the region and the level of lockdown. The SAP is …

The Philippines and Japan have signed a Reciprocal Access Agreement (RAA) that will allow their troops to visit each other’s countries for joint exercises, humanitarian assistance, and disaster relief operations. President Ferdinand Marcos Jr. and Prime Minister Fumio Kishida witnessed the signing of the RAA on Friday, during the latter’s official visit to Manila. The RAA is similar to a …