Day: October 2, 2024

Manila: The Philippine economy successfully navigated multiple external headwinds in recent years and is expected to grow by over 6 percent next year, an International Monetary Fund (IMF) official said. In a briefing at the Bangko Sentral ng Pilipinas office in Manila on Wednesday, IMF Mission Chief Eli Arbatli Saxegaard said the Philippines remained among the best performing economies in the region. An IMF team led by Saxegaard held meetings in Manila from Sept. 18 to Oct. 2 to conduct discussions on the Philippine economy for the 2024 Article IV Consultation. Saxegaard said the Philippine economy is projected to grow

Manila: The local stock market closed higher for the second straight trading day, while the peso barely moved on Wednesday. The Philippine Stock Exchange index (PSEi) gained 22.49 points to 7,402.81 while the broader All Shares also rose 7.50 points to 3,970.86. “The local market extended its climb this Wednesday, advancing 0.30% to 7,402.81. Investors bought into the market on the back of expectations that inflation last September further slowed down,” Philstock Financials, Inc. research manager Japhet Tantiangco said. “Investors also cheered the September SandP Global Philippines Manufacturing PMI which came in at 53.7, reflecting a faster expansion of the

Manila: Senators on Wednesday urged for vigilance among voters to prevent candidates like dismissed Bamban mayor Alice Guo from being elected into any public office this coming 2025 mid-term elections. In a press briefing, Senate President Francis Escudero said the likes of Guo getting elected is a possibility considering that the mandate of the Commission on Elections’ (Comelec) in receiving certificates of candidacy is ministerial in nature. “May posibilidad pa rin yun. Trabaho nating lahat na maging mapagmatyag at tiyakin na hindi sana mangyari yun. At kung mangyayari man, agad mahuhuli (It is still possible. It is our job to

Manila: The lead presiding officer of the House of Representatives Quad Committee (Quadcom) on Wednesday urged the Department of Justice (DOJ) to file murder charges against retired police colonels Royina Garma and Edilberto Leonardo for the 2020 killing of retired police general and Philippine Charity Sweepstakes Office (PCSO) board secretary Wesley Barayuga. Surigao del Norte 2nd District Rep. Robert Ace Barbers said the DOJ, who has representatives monitoring the hearings, should interview the Quadcom’s two witnesses in the Sept. 27 committee hearing and assess their testimonies. He was referring to police Lt. Col. Santie Mendoza of the Philippine National Police

Manila: The Department of Foreign Affairs (DFA) expressed its concern over the bombing of the United Arab Emirates (UAE) ambassador’s residence in Khartoum, Sudan. ‘We deeply regret the recent bombing attack on the residence of the UAE Ambassador in Khartoum, Sudan,’ it said in a statement Wednesday. ‘We call for full respect for the safety and safeguarding of diplomatic premises in accordance with relevant Vienna Conventions,’ it added. The UAE Ministry of Foreign Affairs on Sunday reported that a Sudanese army aircraft has bombed its ambassador’s residence in Khartoum, resulting in ‘extensive damage’ to the building. The ministry did not

Manila: The Department of Human Settlements and Urban Development (DHSUD) has launched the National Shelter Month (NSM) 2024 to highlight sustained engagements with stakeholders. In a news release on Wednesday, DHSUD Secretary Jose Rizalino Acuzar pointed out that collaboration between the public and private sectors ‘propel vibrancy’ in the housing and real estate industry. ‘Under 4PH Program, we are not merely building houses, we are transforming communities into resilient and sustainable living spaces, and we are improving the way of life of our people,’ Acuzar said. He said government housing agencies could ‘turn challenges into opportunities through united front.” Local