The Philippine peso has weakened to a record 62.90 against the US dollar, increasing the cost of imports and adding to inflationary pressures. The decline has prompted the Bangko Sentral ng Pilipinas to consider stronger intervention in currency markets.
Philippine Central Bank Expected to Raise Interest Rates as Inflation Hits 7.2%
The Bangko Sentral ng Pilipinas is widely expected to increase its benchmark interest rate by 25 basis points to 5.25% later this month. The anticipated move follows a surge in inflation to a three-year high of 7.2% and continued depreciation of the peso.
IMF, World Bank and ADB Cut Philippine Growth Forecasts to Below 4%
The International Monetary Fund, World Bank and Asian Development Bank have lowered their 2026 economic growth forecasts for the Philippines to below 4%. The institutions cited weak consumer spending, elevated borrowing costs and volatile global energy prices as major pressures on the economy.
Philippines Strengthens Maritime Cooperation With US and Allies After South China Sea Confrontations
Philippine defence and maritime authorities have expanded joint patrol coordination with the United States and regional partners following renewed encounters with Chinese vessels in disputed waters. The increased cooperation comes amid continuing tensions over maritime security and freedom of navigation in the South China Sea.
Chinese Fighter Jet Intercepts Philippine Aircraft as South China Sea Tensions Escalate
A Chinese military fighter jet has intercepted a Philippine aircraft near Scarborough Shoal amid a series of confrontations involving Chinese coast guard patrols in waters claimed by Manila. The incidents have heightened concerns about the risk of further escalation in the South China Sea.
Philippine Vice President Sara Duterte Faces Allegations of ₱817 Million in Undeclared Wealth
Prosecutors in the Senate impeachment trial of Vice President Sara Duterte have presented financial audit findings alleging that she and her husband failed to disclose more than ₱817 million in their official asset declarations. The proceedings are examining the allegations as part of the impeachment case.
Philippine Tax Authorities Launch Audit of Company Owned by Sara Duterte's Husband
The Bureau of Internal Revenue has confirmed a formal tax investigation into Cale88 Foods Corporation, a company owned by Manases Carpio, the husband of Vice President Sara Duterte. Officials disclosed the audit while testifying before the Senate impeachment court.
Philippine Airlines Suspends Manila–Riyadh Flights Amid Middle East Security Threats
Philippine Airlines has suspended passenger services between Manila and Saudi Arabia's capital, Riyadh, indefinitely following regional security warnings and reports of militant attacks affecting aviation routes. The suspension raises travel concerns for passengers relying on connections between the Philippines and the Middle East.
Philippines Reports Progress in ASEAN-China Talks on South China Sea Code of Conduct
President Ferdinand Marcos Jr. says negotiations between ASEAN and China on a South China Sea Code of Conduct are advancing despite continuing maritime disputes. He made the remarks during regional and investment discussions in Singapore.
El Niño Intensification Threatens Philippine Agriculture and Water Supplies by December
International climate monitoring agencies have warned that El Niño conditions could strengthen significantly towards the end of the year, threatening Philippine agricultural production and water resources. The potential impact could add to existing food supply pressures and push consumer prices higher.
Philippines Orders Precautionary Evacuations Following Minor Eruptions at Taal Volcano
Philippine volcanologists have reported increased seismic activity and minor steam-driven eruptions at Taal Volcano. Local authorities have initiated precautionary evacuations in vulnerable communities around Agoncillo and other parts of Batangas province.
Philippine Exports Reach Record Monthly High in August as Semiconductor Demand Strengthens
The Philippine Statistics Authority says merchandise export earnings reached a record monthly level in August, supported by strong global demand for semiconductors. The increase helped narrow the country's trade deficit despite broader economic challenges.
Philippine Economic Zone Authority Forecasts Record Investment Approvals Driven by New Clark City
The Philippine Economic Zone Authority expects investment approvals to surpass the previous record of ₱311 billion, supported by four major projects involving semiconductors, aviation and large-scale data centres. New Clark City is a key destination for the planned investments.
Malaysian Authorities Detain More Than 60 Filipino Fishermen Off Sabah
Malaysian maritime authorities have detained more than 60 Filipino fishermen over alleged territorial violations in waters off Sabah. The Philippine Department of Foreign Affairs is coordinating consular assistance as the incident highlights continuing maritime jurisdiction disputes in the Sulu Sea.
Philippine Police Arrest 50 Suspects in Online Grooming and School Violence Investigation
Philippine law enforcement agencies have arrested 50 suspected online predators accused of using digital platforms to exploit young people and coordinate threats against schools. The operation forms part of a broader investigation into cybercrime and potential violence involving educational institutions.
Philippines Attracts 10 Bidders for First Natural Gas Infrastructure Auction
The Philippine Department of Energy says 10 energy companies have submitted bids for the country's inaugural natural gas auction. The initiative aims to strengthen long-term electricity supply and support efforts to reduce dependence on coal-fired power generation.
Philippines Approves ₱9 Billion Agreement to Expand Farm-to-Market Roads in Luzon
The Philippine departments responsible for agriculture and public works have signed a ₱9 billion infrastructure agreement to build and rehabilitate farm-to-market roads across Luzon. The programme aims to reduce transport costs and improve the delivery of agricultural products.
Philippine Unemployment Rate Falls to 5.3% in August as Services and Manufacturing Hiring Continues
Official labour force data shows the Philippine unemployment rate declined to 5.3% in August, supported by continued recruitment in services and manufacturing. The improvement comes despite elevated inflation and borrowing costs.
Philippine Digital Economy Attracts New Investment in Cloud Computing, Fintech and AI
New investment announcements covering cloud infrastructure, financial technology and artificial intelligence services are strengthening growth expectations for the Philippines' digital economy. Metro Manila, Cebu and Bonifacio Global City remain important centres for technology development.
Philippine Senator Mark Villar Joins Majority Bloc and Takes Public Works Committee Chairmanship
Senator Mark Villar has joined the Senate majority and assumed leadership of the public works committee. The presidential palace has denied suggestions that the political shift was arranged to influence voting in the impeachment proceedings against Vice President Sara Duterte.
Philippine Investigators File Graft Complaints Against Human Rights Commission Chair
The National Bureau of Investigation has filed corruption-related complaints against the chairperson of the Philippine Commission on Human Rights. The case has raised questions about political accountability and the independence of public institutions.
Megawide Redirects ₱1.23 Billion to Philippine Government's Affordable Housing Programme
Megawide Construction Corporation has announced plans to allocate ₱1.23 billion in corporate bond proceeds to the government's Pambansang Pabahay Para sa Pilipino housing initiative. The funding will support residential construction under the national affordable housing programme.
Philippine Regulators Consider Larger Retail Investor Allocation for GCash IPO
Financial regulators and market underwriters are assessing proposals to increase the allocation of shares availab