finance

The Philippines has backed out from the Extractive Industries Transparency Initiative (EITI) due to “questionable” metrics and procedures, the Department of Finance (DOF) said Wednesday.

Propelled by inflation, the price of air tickets has begun to take off again after tumbling during the pandemic, a reversal that looks set to intensify due to environmental pressures, experts say.

Outgoing Agriculture Secretary William Dar on Wednesday said he is gearing to turn over the leadership of the Department of Agriculture to the incoming administration, as he called for a ‘Build, Build, Build” program to cover the industry.

Incoming Socioeconomic Planning secretary and National Economic and Development Authority (NEDA) chief Arsenio Balisacan said Tuesday the Philippines’ agriculture sector is already in crisis.

The Bangko Sentral ng Pilipinas (BSP) is likely to implement back-to-back policy rate hikes in a bid to ease the continuous inflationary uptrend in the country, the DBS Group Research said in its latest flash note.

Cosco Capital Inc. — the operator of retail businesses Puregold and S&R — has partnered with Thailand-based Siam Global House Public Company Limited to put up a retail shop in the country for construction materials and home goods.

Agriculture Secretary William Dar on Tuesday said sugar production should be boosted after its price already rose to P90 per kilo in some markets in the country.

Agriculture group Samahang Industriya ng Agrikultura (SINAG) on Tuesday said they believe President-elect Ferdinand “Bongbong”  Marcos Jr.’s “political will” can help reform the agriculture sector.

Risks to Philippine financial stability continue to be external, given the prospects of the global economy amid the inflation environment and the tightening policy, the Financial Stability Coordination Council (FSCC) said Tuesday.

The Philippine balance of payments (BOP) deficit widened in May to mark the biggest in 15 months, data released by the Bangko Sentral ng Pilipinas (BSP) on Tuesday showed.