Philippines

The head of the Philippine Central Bank has stated that there will not be another off-cycle interest rate adjustment. The head of the Philippine Central Bank stated on Tuesday that there would not be another off-cycle move on monetary policy tightening. At the same time, he indicated that there would be a rate hike of less than 75 basis points …

Udenna Corporation, a Philippine conglomerate owned by a close associate of the country’s previous president, announced on Monday that a subsidiary of the company had paid a debt to prevent a default on other loans. This helped shares in related companies recover from huge losses that had occurred earlier. Udenna, one of the most rapidly expanding enterprises in the country, …

Due to the rising cost of imported edible oil and the impact that the conflict in Ukraine has had on wheat prices, many bakeries in the Philippines are reducing the size of a popular breakfast bun in order to make ends meet in the face of greater inflation. At Matimyas Bakery, a breadmaker in the suburbs of Manila, the somewhat …

According to a statement released by the Department of National Defense (DND) on Thursday, Chinese militia vessels have been spotted in the contentious area of the West Philippine Sea. During a press conference, Faustino stated that they would work in conjunction with the National Task Force for the West Philippine Sea (NTF-WPS) to resolve incursions into the territorial waters of …

Within the first hundred days of President Ferdinand “Bongbong” Marcos Jr.’s administration, or by the beginning of October, the government plans to give booster shots of the COVID-19 vaccine to nearly 23 million individuals. In a message that she sent to CNN Philippines on Tuesday, the officer-in-charge Undersecretary of the Department of Health (DOH), Maria Rosario Vergeire, verified this aim. …

PHILIPPINES — As the supremo of Philippine weightlifting, there will be no shortage of possible heirs or heiresses of Tokyo Olympics gold medalist Hidilyn Diaz. With another world-class lifter in 15-year-old Angeline Colonia at the Asian Youth and Junior Championships in Tashkent, Uzbekistan, Colombia’s champion weightlifting machine continues to grind like clockwork. Colonia, who originates from Zamboanga just like Diaz, …

PHILIPPINES: Following an off-the-scheduled 75 basis point rate hike to battle inflation, the Philippine central bank’s governor indicated on Friday that it “may or may not” boost interest rates at its policy meeting in August. Bangko Sentral ng Pilipinas Governor Felipe Medalla indicated in a phone message that the bank will be “data reliant.” The central bank, however, will remain …

PHILIPPINES: Philippine journalist Maria Ressa, less than a year removed from receiving the Nobel Peace Prize for her work to safeguard free speech, is currently fighting to avoid jail time while her news site Rappler faces possible closure. A strong critic of former Philippine president Rodrigo Duterte and his bloody drug campaign, the intrepid veteran reporter refuses to be intimidated …

MANILA: Colleges and universities will be able to choose between online and face-to-face sessions, according to the Commission for Higher Education (CHED) on Wednesday, July 13. Flexible learning can be used for some degree programs, while face-to-face instruction is required for others, CHED chairperson Prospero de Vera III remarked, “We are leaving it up to the universities to decide what …

MANILA: The present administration of Okada Manila, the Philippine casino at the center of a contentious ownership battle, claims that business increased in June. It said that foot traffic was up 8% from a month earlier in June and was 74% of its pre-pandemic level, and that the casino planned to open more stores and add entertainment activities in response …