Philippines Business News

Tower company iSON looking into digital healthcare, BPO expansions

GLOBAL TECHNOLOGY and infrastructure firm iSON is looking to expand its footprint in the Philippines in digital healthcare and business process outsourcing (BPO), the Department of Finance (DoF) said. In a statement on Wednesday, the DoF said it met with iSON executives about its plans to build on its $300-million expansion in the Philippines for […]

PHL, New Zealand targeting 50% boost in trade by 2030

THE PHILIPPINES and New Zealand are exploring opportunities in agriculture and increased market access with a goal of increase bilateral trade by 50% by 2030, the Department of Trade and Industry (DTI) said. In a social media post on Wednesday, the DTI’s Bureau of International Trade Relations (BITR) said the Joint Economic Commission (JEC) between […]

Beyond recovery: Tax relief after calamities

Typhoons, floods, volcanic eruptions, and other calamities are familiar realities in the Philippines. In recent years, however, the frequency and severity of these events have shown how vulnerable both communities and businesses can be. Beyond the immediate and visible human and economic toll, disasters can destroy inventory, damage equipment, impair facilities, disrupt supply chains, and […]

U.S. budget deficit widens to $1.8 trillion through July

Ship traffic through Strait of Hormuz near three-month low

Supertanker spotted at Saudi’s main oil terminal for the first time in a month

[In This Economy] The Philippine economy is stuck in a rut

It’s a classic case of bad governance leading to bad economics

Reaction roundup: Experts, analysts weigh in on in-line July CPI report

Luxury condo resilience: Half of Ayala’s Laurean buyers staying despite pause

Despite construction grinding to a halt amid higher costs and uncertainty from the Middle East war, half of Laurean Residences’ deep-pocketed buyers are choosing to stay rather than take a refund or move to another Ayala project

Liberty Flour Mills files cyber libel complaint vs former execs as family feud deepens

LFM's current leadership, headed by chairman and president John Carlos Uy, is firing back at former executives Sandra Uy — John's niece — and Stella Uy over what the company calls an 'orchestrated scheme' to discredit it

Here’s how Truflation’s Head of Data sees inflation evolving in the months ahead

U.S. CPI looms large; CoreWeave’s AI-driven revenue surge - what’s moving markets

A new Mitsubishi hybrid is coming. But don’t expect a pure EV anytime soon.

Expensive, plug-in hyrbid, and a global flagship model. Any guesses?

Trump considers capital gains tax cuts ahead of midterm election- Bloomberg

Bond yields move sideways as market sees less hawkish BSP

THE GOVERNMENT made a full award of the Treasury bonds (T-bonds) it offered on Tuesday as rates were aligned with secondary market levels, with the market expecting a less hawkish stance from the Bangko Sentral ng Pilipinas (BSP) amid slowing economic growth. The Bureau of the Treasury (BTr) borrowed P30 billion as planned from the […]

BSP plans to set up new facilities to enable off-hours settlements

THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to update its existing rules on payment settlement facilities to streamline large-value payments as it plans to extend the Peso Real-Time Gross Settlement (RTGS) Payment System’s (PS) operating hours. In a draft memorandum, the central bank proposed amendments to the rules on the Peso RTGS Payment System, […]

Peso sinks back to P61 range on US-Iran impasse

THE PESO slid back to the P61-per-dollar level on Tuesday as hopes for a peace deal between the United States and Iran faded due to new demands from both parties. The currency fell by 55.5 centavos to close at P61.26 versus the greenback from P60.705 on Monday, based on data from the Bankers Association of […]

SSS targets over P250 billion in benefit payments

THE SOCIAL Security System (SSS) expects to pay out over P250 billion in benefits this year as it looks to improve social protection. “Our main concern is increasing benefits,” SSS President and Chief Executive Officer Robert Joseph M. De Claro said at a press conference on Tuesday. He said they want to improve their net […]

PBB Q2 income at P412.8M

PHILIPPINE BUSINESS Bank, Inc., A Savings Bank (PBB) reported a net income of P412.8 million for the second quarter, it said on Tuesday. Its financial statement was unavailable as of press time. Quarter on quarter, net income surged by 86.3%, PBB said in a disclosure to the stock exchange. Pre-tax and pre-provision profit, which includes […]

BPI AIA appoints new CEO

BPI AIA LIFE Assurance Corp. has appointed Melissa Henson as its new chief executive officer (CEO), it announced on Tuesday. Ms. Henson previously served as the chief marketing officer (CMO) of AIA Philippines Life and General Insurance Co., a role that she assumed in 2023. BPI AIA is the bancassurance partnership between AIA Philippines and […]

Proposal to remove system-loss VAT charge reaches ERC level

THE Energy Regulatory Commission (ERC) is proposing to scrap the 12% value-added tax (VAT) from electricity losses charged to consumers to reduce their costs, which is expected to result in P6 billion savings.

LGUs allowed to tap development funds for oil storage, renewable energy facilities

LOCAL GOVERNMENT UNITS (LGUs) have been cleared to tap their development funds to build oil storage facilities and renewable energy infrastructure as the government seeks to mitigate the impact of global fuel supply disruptions. In Joint Memorandum Circular (JMC) No. 1 dated Aug. 4, the Department of Budget and Management, Department of Finance and Department […]

DTI, ADVANCE.CBP to establish MSME credit information registry

THE Department of Trade and Industry (DTI) and ADVANCE.CBP (Advintel, Inc.) signed a memorandum of understanding last week to establish a credit information registry for micro, small and medium enterprises (MSMEs). SME Trust will carry MSMEs’ verified business profiles, which lenders and other firms may use for assessment prior to approving loans or entering business […]

Bidding launched for P1.24-billion Tacloban, Busuanga airport deals

THE Department of Transportation (DoTr) said it opened the bidding for the P1.24 billion worth of contracts for the development and rehabilitation of Tacloban and Busuanga airports. In separate bid notices issued on Tuesday, the DoTr said P695.25 million was allotted for the civil works and rehabilitation contract for Tacloban Airport. The project covers airside […]