ECCP at Work

Philippines sees 35% jump in FDI net inflows in June

Foreign direct investment (FDI) net inflows to the Philippines jumped by 35% year on year in June, even as they fell to a two-month low, central bank data showed.

Govt secures land from Villar group for LRT-1 Cavite extension

The Department of Transportation (DOTr) secured a key right-of-way land donation from the Villar Group for the Las Piñas station. This clears crucial bottlenecks for the LRT-1 Cavite Extension project, aimed at serving 300,000 additional daily commuters.

AI boom may reshape Philippine energy, water plans

THE GOVERNMENT may need to revise its long-term energy and water development plans to account for the growing resource needs of artificial intelligence (AI) data centers, the Department of Economy, Planning, and Development (DEPDev) said.

Visayas, Mindanao spot power prices reach record highs near P20/kWh

ELECTRICITY CONSUMERS in the Visayas and Mindanao could face higher bills this month after spot market prices in both grids surged to record highs of nearly P20 per kilowatt-hour (kWh). The market operator attributed the increase in spot market prices to supply constraints caused by plant outages in the Visayas and Mindanao.

Philippine banks’ NPL ratio hits 2-month high in July

THE PHILIPPINE BANKING sector’s nonperforming loan (NPL) ratio worsened in July as elevated inflation and higher borrowing costs drove up bad debts, preliminary Bangko Sentral ng Pilipinas (BSP) data showed. 

Term deposit yields rise further on hawkish BSP, peso weakness

YIELDS on the Bangko Sentral ng Pilipinas’ (BSP) term deposits climbed for a third straight week despite strong demand amid its hawkish stance and the peso’s depreciation

Cathay Pacific studies additional PHL flight frequencies

CATHAY PACIFIC Airways Ltd. is studying additional flight frequencies on its Philippine routes as it reviews capacity amid growing passenger demand, its local head said.

BSP moves to build Islamic finance market

The Bangko Sentral ng Pilipinas (BSP) is easing some regulatory requirements and offering temporary incentives to help build a market for Islamic financial instruments, as it seeks to expand Shari’ah-compliant banking in the country.

ADB to extend financing for UPLIFT subsidy, aid program

THE Asian Development Bank (ADB) could extend part of its P1.75-billion loan that filled the budget gaps arising from the government’s Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) Program. 

Survey shows more Filipinos see better year ahead

According to the Social Weather Stations (SWS) survey conducted from June 20 to June 29, eight percent saw it worsening (“pessimists”) while 31 percent said it will stay the same (“no change”).