Balita.org: Your Premier Source for Comprehensive Philippines News and Insights! We bring you the latest news, stories, and updates on a wide range of topics, including politics, culture, economy, and more. Stay tuned to know everything you wish about your favorite stars 24/7.
BEIRUT — Israel's armed forces bombed targets in south and east Lebanon on Monday and said more strikes were coming, warning Lebanese civilians to stay out of harm's way despite international calls for control.
Aboitiz Equity Ventures [AEV 37.00, down 1.6%; 99% avgVol] [link] won its bid to operate the Laguindingan Airport in Misamis Oriental, securing a “Notice of Award” for a 30-year concession to upgrade, operate, and maintain the airport that could be signed by the end of this month and come into force by April of 2025. AEV’s proposed P12.75 billion project “involves extensive development” to the passenger terminal building and surrounding facilities that would increase the airport's annual capacity from 1.6 million passengers to 3.9 million in the first phase, and then to 6.1 million by the end of the second phase. AEV already manages the Mactan-Cebu International Airport after it bought Megawide [MWIDE 2.74, down 0.4%; 12% avgVol] out of that concession, and has submitted an unsolicited proposal for similar concessions for airports in Bohol, Bicol, and Iloilo.
The International Monetary Fund (IMF) [link] cut its full-year 2024 GDP growth forecast for the Philippines to 5.8%, down 20 basis points from its previous forecast of 6.0%. The IMF also cut its FY25 GDP growth projection to 6.1%, down 10 basis points from the previous 6.2%. Both revisions are due to the lower-than-expected private consumption in the first half of 2024, which the IMF attributes “in part” to the high price of basic foods. The IMF said it thinks “private consumption is going to grow slightly with less momentum”, but that they think the “non-monetary efforts to reduce food prices and especially rice prices... will be supportive of consumption growth going forward.”
MANILA, Philippines — The Philippine National Police-Internal Affairs Service (IAS) has started its investigation to unmask PNP officers who may have played a role in the murder of former Philippine Charity Sweepstakes Office (PCSO) board secretary Wesley Barayuga in 2020.
Charges on money sent by overseas Filipinos from 14 major remittance-sending countries teeter to meeting the 3% target set by the 2030 Sustainable Development Goals (SDGs).
MANILA, Philippines — West zone concessionaire Maynilad Water Services Inc. has recovered some 560,000 cubic meters of potable water that had been previously lost due to illegal connections, sufficient to supply the daily needs of 3,500 customers.
MANILA, Philippines — Philippine National Police (PNP) Chief Rommel Marbil has ordered the immediate reopening of the investigation into the killing of Philippine Charity Sweepstakes Office (PCSO) board secretary, Wesley Barayuga.
MANILA, Philippines — The National Food Authority is on track in the implementation of the P93-billion infrastructure modernization program, which aims to build modern post-harvest facilities in the next few years, according to NFA administrator Larry Lacson.
SHANGHAI: Chinese Foreign Minister Wang Yi said the US deployment of intermediate-range missiles in the Philippines "undermines regional peace and stability", the foreign ministry said on Sunday. Speaking to South Korean Foreign Minister Cho Tae-yul in New York on Saturday, Wang also called for avoiding "war or chaos on the Korean Peninsula", the ministry said in a post on its website. The US deployed the Typhon system