Philippine economy grows 5.5% annually in second quarter
Economists in a Reuters poll had expected growth of 5.4 per cent.
On a seasonally adjusted basis, the economy grew 1.5 per cent quarter-on-quarter, compared to the median forecast of 1.3 per cent in a Reuters poll of economists.
'With this performance, we maintain our place among the fastest growing economies in emerging Asia,' Philippine Economic Planning Secretary Arsenio Balisacan told a press conference. REUTERS
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Straits Times
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Business Times
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Sy family of SM fame retains top spot among Philippines' richest: Forbes
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Straits Times
a day ago
- Straits Times
Lula and Putin discuss peace in Ukraine before US summit
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Russian President Vladimir Putin greets Brazilian President Luiz Inacio Lula da Silva before a military parade on Victory Day, marking the 80th anniversary of the victory over Nazi Germany in World War Two, in Moscow, Russia, May 9, 2025. Alexei Nikolsky/Host agency RIA Novosti/Handout via REUTERS/File Photo BRASILIA - Brazilian President Luiz Inacio Lula da Silva spoke with Russia's President Vladimir Putin on Saturday for about 40 minutes, the Brazilian presidential palace said, adding that Putin shared information about his discussions with the United States and "recent peace efforts between Russia and Ukraine." The leaders also discussed their cooperation in the BRICS group of emerging countries and "discussed the current international political and economic scenario," according to the statement. The conversation with Lula is the latest of a flurry of calls between Putin and foreign leaders in recent days ahead of the Russian president's expected meeting with U.S. President Donald Trump next week. Putin spoke to the leaders of China and India, both also part of the BRICS group of developing nations, and other presidents from Central Asia and Europe on Friday to brief them on his contacts with the United States about the war in Ukraine. Lula has been in a public spat with Trump since the U.S. imposed a 50% tariff on the imports of Brazilian goods, which Trump linked to an alleged "witch hunt" against his ally and Brazil's former right-wing President Jair Bolsonaro. U.S. imports of some Brazilian products, such as orange juice and aircraft, received a lower rate. Lula told Reuters on Wednesday he planned to call the leaders of the BRICS countries, which also include South Africa, to discuss a joint response to Trump's tariffs on U.S. imports. The Brazilian leader spoke with Indian Prime Minister Narendra Modi on Thursday. Trump has threatened BRICS nations with additional 10% tariffs last month, as the group gathered in a summit in Rio de Janeiro in July. REUTERS
