The Economy

The Economy

Philippine peso remains resilient after tumultuous week in the global economy

Despite economic uncertainty amongst the doldrums of the covid-19 virus, the Philippine peso continued to display its remarkable resiliency—ending the week sideways against the dollar. The local currency ended the…

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Enough food supply to feed entire Luzon assured by the Department of Agriculture

Department of Agriculture Secretary William D. Dar advised and reassured the general public that enough food supply is sustainable for residents particularly in Metro Manila and Luzon after the Philippine…

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The Economy

Bureau of Internal Revenue extends tax filing deadline to May 15, urges taxpayers to file early to support fight vs COVID-19

Manila — The Bureau of Internal Revenue (BIR) has extended the deadline for the filing of the 2019 annual Income Tax Returns (ITRs) by a month to May 15, 2020,…

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The Economy

Almost 25 million jobs could be lost worldwide as a result of COVID-19, says the International Labour Organization

An initial assessment of the impact of COVID-19 on the global world of work says the effects will be far-reaching, pushing millions of people into unemployment, underemployment and working poverty,…

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Asian Development Bank Announces $6.5 Billion Initial Response to COVID-19 Pandemic

Manila, Philippines — The Asian Development Bank (ADB) today announced a $6.5 billion initial package to address the immediate needs of its developing member countries (DMCs) as they respond to the…

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U.S. and Philippine Department of Health partner to combat COVID-19 in the Philippines

Manila — The U.S. Embassy in the Philippines announced today that the U.S. government has committed more than Php139 million ($2.7 million) to support the Philippine Department of Health (DOH)…

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World Bank Group increases COVID-19 response to $14 Billion to help sustain economies, protect jobs

Focus on private sector and workers spearheaded by IFC to mitigate financial and economic impact of crisis Washington — The World Bank and IFC’s Boards of Directors approved today an…

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The Economy

Asian Development Bank fast tracks $3 Million grant to help the Philippines fight COVID-19

Manila, Philippines — The Asian Development Bank (ADB) has approved a $3 million grant to support the Philippine government’s response to the novel coronavirus (COVID-19) pandemic, including the purchase of emergency…

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Asian Development Bank to Provide $200 Million to Support Strained Supply Chains in Fight Against COVID-19

Manila, Philippines — The Asian Development Bank (ADB) will make available $200 million through its Supply Chain Finance Program for companies manufacturing and distributing medicines and other items needed to…

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Turkish Airlines and Department of Tourism form partnership to boost Philippine tourism from the European and Mediterranean markets

The Department of Tourism (DOT) and Turkish Airlines signed a Memorandum of Understanding (MOU) that aims to reinforce and affirm the country’s position in the European, Mediterranean and other international…

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President Duterte inspects P6.5-billion North Luzon Expressway Harbor Link Project

President Rodrigo Roa Duterte led the inspection Thursday of the P6.5-billion C3-R10 Section of the North Luzon Expressway (NLEX) Harbor Link Project, which is expected to decongest Metro Manila and…

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The Economy

COVID-19 outbreak to have significant economic impact on developing Asia

Manila, Philippines — The ongoing novel coronavirus (COVID-19) outbreak will have a significant impact on developing Asian economies through numerous channels, including sharp declines in domestic demand, lower tourism and business…

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Department of Tourism to spend P6 billion to boost Philippine tourism industry—projects to lose P43 billion in tourism revenues due to the threat of the novel coronavirus

Tourism Secretary Bernadette Romulo Puyat on Wednesday, March 4, announced that the Department of Tourism will be spending some P6 billion on a tourism resiliency program that will boost the…

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Israeli tourist arrivals to the Philippines up in 2019

Tel Aviv – 2019 was a banner year for Israeli tourism to the Philippines. The Department of Tourism reported a significant increase of 12.33 percent in Israeli tourist arrivals to…

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The Economy

Legarda: Unlock full potential, enhance climate and disaster resilience of Philippine indigenous weaving industry

Deputy Speaker and Lone District of Antique Representative Loren Legarda, at the Women 2020: Forum on Women of Impact, urged the government and private sector to continue unlocking the full…

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Department of Tourism Secretary Puyat convenes Tourism Council; invites public to travel within the Philippines

Department of Tourism (DOT) Secretary Bernadette Romulo-Puyat today assured the country of the tourism industry’s fortitude and resiliency through the global health crisis brought by the coronavirus (COVID-19) outbreak in…

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International visitor receipts hit USD 9.31B in 2019, up 20.81% from 2018

The Philippines’ all-time high 8.2 million international tourist arrivals in 2019, contributed USD 9.31 billion or PHP 482.15 billion in visitor receipts, 20.81 percent higher than the 2018 figure of…

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Honda closure in the Philippines triggered by global slowdown

Makati – Following a meeting with Honda Cars Philippines, Inc. (HCPI) President and General Manager Noriyuki Takakura on February 24, the Department of Trade and Industry (DTI) Secretary Ramon Lopez…

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The Economy

President Duterte eyes strong Philippine-ADB partnership for development

Manila — President Rodrigo Roa Duterte on Monday said he wants enhanced collaboration with the Asian Development Bank (ADB) in various areas to push the administration’s development agenda. ADB President…

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The Economy

Department of Public Works and Highways targets delivery of 3 EDSA decongestion projects by end 2020

Manila — The Department of Public Works and Highways (DPWH) is working towards advance completion of its three EDSA decongestion program projects by the end of 2020. DPWH Undersecretary Emil…

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Philippine peso remains resilient after tumultuous week in the global economy

Enough food supply to feed entire Luzon assured by the Department of Agriculture

Bureau of Internal Revenue extends tax filing deadline to May 15, urges taxpayers to file early to support fight vs COVID-19

Almost 25 million jobs could be lost worldwide as a result of COVID-19, says the International Labour Organization

Asian Development Bank Announces $6.5 Billion Initial Response to COVID-19 Pandemic

U.S. and Philippine Department of Health partner to combat COVID-19 in the Philippines

World Bank Group increases COVID-19 response to $14 Billion to help sustain economies, protect jobs

Asian Development Bank fast tracks $3 Million grant to help the Philippines fight COVID-19

Asian Development Bank to Provide $200 Million to Support Strained Supply Chains in Fight Against COVID-19

Turkish Airlines and Department of Tourism form partnership to boost Philippine tourism from the European and Mediterranean markets

President Duterte inspects P6.5-billion North Luzon Expressway Harbor Link Project

COVID-19 outbreak to have significant economic impact on developing Asia

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Department of Tourism to spend P6 billion to boost Philippine tourism industry—projects to lose P43 billion in tourism revenues due to the threat of the novel coronavirus

Israeli tourist arrivals to the Philippines up in 2019

Legarda: Unlock full potential, enhance climate and disaster resilience of Philippine indigenous weaving industry

Department of Tourism Secretary Puyat convenes Tourism Council; invites public to travel within the Philippines

International visitor receipts hit USD 9.31B in 2019, up 20.81% from 2018

Honda closure in the Philippines triggered by global slowdown

President Duterte eyes strong Philippine-ADB partnership for development

Department of Public Works and Highways targets delivery of 3 EDSA decongestion projects by end 2020

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