News: ADB prepares $500-M policy loan

Monday, October 7, 2024

ADB prepares $500-M policy loan

October 8, 2024

POLICY

ADB prepares $500-M policy loan to boost PH fiscal modernization

The Asian Development Bank (ADB) is set to approve a $500-million loan for the Philippine government's Public Financial Management (PFM) Road Map 2024-2028, which aims to transform how public funds are managed, thus modernizing fiscal governance.

By Mariedel Irish U. Catilogo

ECONOMY

GIR hits record-high $112B

Inflows from fresh foreign borrowings of the Marcos administration and an increase in the value of gold held by the BSP pushed up the Philippines' international reserves to a new record high, with the start of a global monetary easing cycle seen helping the country accumulate more buffer funds.

By Ian Nicolas P. Cigaral

AGRICULTURE

DA: Hog vaccination so far yielding positive results

The Department of Agriculture (DA) is targeting to accelerate the inoculation of hogs against the deadly African swine fever (ASF) following a positive response from those so far tested. In an interview on Monday, Agriculture Assistant Secretary Constante Palabrica said the department was studying strategies on how to expand the vaccination to cover as many pigs as possible.

By Jordeene B. Lagare

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BIZ BUZZ

Crown jewel transfer: Kevin Tan now helms Megaworld

Next-generation tycoon Kevin Andrew Tan has taken over the reins of most of the key businesses founded by his father, Andrew Tan. Rising to the top of flagship Megaworld Corp. doesn't come as a surprise. After 35 years of service, Katherine Tan is retiring from Megaworld's board of directors for "personal reasons."

By Tyrone Jasper C. Piad

INQUIRER PLUS-EXCLUSIVE

'Sari-sari' stores continue to dominate business registrations in PH

While business name registrations and renewals filed was up just 2 percent so far this year, the Department of Trade and Industry (DTI) is confident of surpassing last year's numbers. Available data from the government agency showed that filings reached 923,383 as of October 6, more than the 902,595 recorded for the whole 10-month period in 2023.

By Alden M. Monzon

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