BusinessWorld Economy
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Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
298 articles across all sources
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BusinessWorld Economy
‘Slum’ share of PHL urban housing estimated at 40%
LOW-QUALITY Philippine urban housing was estimated at 40% of the total, higher than the corresponding shares for India or Indonesia, the Asian Development Bank (ADB) said in a working paper. Citing significant housing challenges faced by the Philippines, the ADB said the other dimension of the housing problem is inadequacy, or the shortage of available […]
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BCDA positioning Bataan as site for EV-charger manufacturing
THE Bases Conversion and Development Authority (BCDA) said it evaluated the 200-hectare Morong Discovery Park in Bataan for its potential to host electric vehicle (EV) manufacturers. BCDA Executive Vice-President Gisela Kalalo and Vice-President for Strategic Projects Management Randy Viacrusis visited the site along with provincial officials, V-Green Global Charging Station Development Corp., and VinFast Electric […]
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Regulatory mismatches hindering biofuel industry dev’t — think tank
THE Congressional Policy and Budget Research Department (CPBRD) of the House of Representatives said protectionism and rigid regulations are causing bottlenecks in the bioethanol industry. In a policy brief, the think tank found a “policy mismatch” between the objectives of the Biofuels Act of 2006 and the way it is currently being implemented by government […]
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Why is your electricity bill more expensive this month?
How does an outdated power grid result in higher electricity bills? Watch this report by Rappler researcher-writer Shay Du to find out.
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MIC books P623-M net income in first quarter
PHILIPPINE sovereign wealth fund manager Maharlika Investment Corp. (MIC) posted a net income of P628.85 million in the first quarter. The state-run investment vehicle booked other comprehensive income of P693.29 million in the January-to-March period, bringing its total comprehensive income to P1.32 billion. Before tax, MIC’s earnings reached P628.85 million during the quarter. This came […]
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Samsung shares soar as strike averted, but bonuses of $416,000 for some stoke concern
A planned 18-day strike by some 48,000 union members has now been suspended, while the agreement, which was mediated by the government, is put to a vote between May 22 and May 27
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[Good Business] Reimagining public leadership through Pamamahalang Pilipino
Most leadership training in the Philippines rely on imported Western models. The Pamamahalang Pilipino framework offers a new way forward.
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BSP plans stricter sustainability reporting rules for banks by 2027
PHILIPPINE BANKS may soon be required to adopt stricter international reporting standards related to sustainability as the Bangko Sentral ng Pilipinas (BSP) noted the growing risks posed by climate change to financial stability. According to a draft circular, the central bank is eyeing a phased implementation of the Philippine Financial Reporting Standards (PFRS) S1, or […]
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Term deposit yield climbs further despite strong demand for offering
THE BANGKO SENTRAL ng Pilipinas’ (BSP) term deposits fetched a slightly higher average yield on Wednesday, marking the fifth straight week of increase despite investor demand holding strong. Bids for the term deposit facility (TDF) amounted to P138.544 billion, exceeding the P90 billion in seven-day papers placed on the auction block but below the P146.465 […]
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Peso edges up as Mideast caution lingers
THE PESO inched higher versus the dollar on Wednesday after moving in a tight range as the market stayed on edge while waiting for developments in the Middle East. The currency closed at P61.74 a dollar, gaining a centavo from Tuesday’s record-low finish of P61.75, according to Bankers Association of the Philippines data posted on […]
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China Bank Savings’ Q1 profit up 11.5%
CHINA BANK Savings, Inc. (CBS), the thrift banking arm of listed China Banking Corp. (Chinabank), saw its net profit rise by 11.5% year on year to P631.2 million in the first quarter, supported by the sustained growth of its core businesses. Net interest income climbed by 20.4% to P2.8 billion backed by steady lending growth, […]
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Asialink Group sets leadership changes
THE ASIALINK Group of Companies announced leadership changes for its two flagship entities, Asialink Finance Corp. (AFC) and Global Dominion Financing, Inc. (GDFI). The transition is part of the efforts to strengthen alignment across the Asialink Group to “enhance operational synergies, and ensure that its organizational structure remains responsive to increasing scale and complexity, positioning […]
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Safeguard duties imposed on imported meat, coffee, onions
THE Department of Agriculture said it imposed price-based special safeguard measures on 21 agricultural product categories, after import prices fell below established trigger levels. In Department Order No. 15 Series of 2026, Agriculture Secretary Francisco P. Tiu Laurel, Jr. requested the Bureau of Customs to collect additional duties on frozen poultry, pork, coffee preparations, and […]
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ADB willing to fund Mindanao Railway Project
THE ASIAN Development Bank (ADB) said it is ready to finance the Mindanao Railway Project, with the long-delayed rail line still needing a source of funding after China withdrew support. “We would be willing to fund it, if we were asked,” ADB Country Director for the Philippines Andrew Jeffries told BusinessWorld on Wednesday. Earlier this […]
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Modest DPWH budget request for 2027 signals flagship-project focus as gov’t prepares to exit
THE Department of Public Works and Highways (DPWH) said on Wednesday it is seeking about P215 billion in funding for 2027, with P200 billion needed to sustain ongoing flagship infrastructure projects. At a hearing of the Committee on Flagship Programs and Projects, Public Works Senior Undersecretary Emil K. Sadain said that of the 26 ongoing […]
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BSP warned against taking ‘aggressive’ policy stance during Middle East crisis
THE Bangko Sentral ng Pilipinas (BSP) should avoid aggressive policy tightening and keep its stance balanced between controlling inflation and supporting growth, an economist said.
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PHL’s much-reduced GOCC lineup still enmeshed in strategic sectors — OECD
THE PHILIPPINES has seen a sharp decline in the number of its state-owned enterprises (SOEs) over the past decade, though remaining government firms continue to control strategic areas of the economy, according to a report by the Organisation for Economic Co-operation and Development (OECD). “Between 2011 and 2024, the number of SOEs declined from 158 […]
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Visayas grid hit with another yellow alert
THE VISAYAS GRID was again placed under yellow alert on Wednesday due to the shutdown of several power plants, with industry groups raising concerns that plant outages have exceeded allowable limits. In an advisory on Wednesday, the National Grid Corp. of the Philippines (NGCP) said the Visayas grid was on yellow alert between 4 p.m. […]
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China bans PHL pork imports over swine fever
CHINA has banned imports of pigs, wild boars, and related products from the Philippines following reports of swine fever outbreaks received by the World Organization for Animal Health (WOAH). China’s General Administration of Customs and Ministry of Agriculture and Rural Affairs issued Announcement No. 66 on May 14, 2026, prohibiting direct or indirect imports from […]
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Food businesses deemed relatively more resilient during Persian Gulf crisis
THE FOOD industry is better positioned to withstand the impact of the Middle East crisis, as demand for food remains resilient despite rising prices and slowing economic growth, Jose Ma. A. Concepcion III of the Go Negosyo organization said. “If you are in the food and restaurant business, you have the ability to survive. Especially […]
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BIR simplifies business de-registration process
THE Bureau of Internal Revenue (BIR) said it streamlined procedures for the cancellation of business registrations. “From improving the ease of doing business and the ease of paying taxes, this reform completes the BIR’s support for businesses through every stage of the business life cycle,” BIR Commissioner Charlito Martin R. Mendoza said. “If we make […]
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Fishing households grow 18% but workforce ageing
FISHING HOUSEHOLDS increased 18.1% over the past decade, though the overall fishing workforce is ageing, the Philippine Statistics Authority (PSA) said. In total 897,575 households had members involved in fishing in 2022, according to preliminary PSA data, against 760,000 fishing households in 2012. The number of fisherfolk over 50 years old rose 47.3% to over […]
Read full article →Rappler Business
PH dairy industry grows in Q1, but milk sufficiency still at a low 2.1%
The National Dairy Authority is banking on animal imports, more stock farms, and bigger budget to boost the import-dependent industry
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