Philippines Business News

US to include Philippines in RIMPAC drills at sea

THE US will include the Philippines in all at-sea activities during this year’s Rim of the Pacific (RIMPAC) exercises, underscoring Washington’s confidence in its treaty ally’s growing maritime capabilities. “We are confident in their ability as partners here at RIMPAC, and they will be incorporated in each and every one of our events during the […]

Diesel, kerosene to rise by over P3/L

MOTORISTS may see higher fuel costs this week, with diesel and kerosene prices increasing by more than P3 per liter (L), according to the Department of Energy. In a briefing on Monday, Energy Secretary Sharon S. Garin said gasoline prices may roll back by as much as P1.75 per liter or increase by up to […]

Palace: VP trial vote up to Senate

THE Executive branch will not intervene in questions over the number of votes needed to convict Vice-President (VP) Sara Duterte-Carpio in her impeachment trial, Malacañang said on Monday. Palace Press Officer Clarissa A. Castro said the Palace would not take a position on proposals to lower the constitutional threshold for conviction after some senators became […]

Palace wants more banks to reduce transfer fees

The Palace wants more banks to reduce or waive fund transfer fees, expressing support for efforts to make digital financial transactions cheaper for consumers as more financial institutions move to comply with new pricing rules issued by the central bank. At a Palace briefing on Monday, Palace Press Officer Clarissa A. Castro said the government […]

DoJ says plunder cases not limited to public funds

THE Department of Justice (DoJ) on Monday said plunder cases are not limited to acts involving public funds, as it explained key legal concepts surrounding the anti-corruption law during a public legal education briefing. Justice Undersecretary Ian Norman E. Dato said plunder, which he described as “the gravest of our anti-corruption laws,” applies when a […]

Group: Disclose VP’s secret fund use

A YOUTH group on Monday called for the full disclosure of Vice-President (VP) Sara Duterte-Carpio’s confidential funds, saying the opening of her impeachment trial should also mark the start of efforts to hold her accountable for her alleged misuse of public money. In a statement, Kabataan Party-list Vice-President for Visayas Florence Guzon alleged that hundreds […]

Gov’t told to help TESDA graduates secure jobs

A LAWMAKER on Monday urged the government to strengthen job placement efforts for graduates of the Technical Education and Skills Development Authority (TESDA), saying training programs should immediately translate into employment opportunities. In a statement, Party-list Rep. Menchie “Ching” B. Bernos said that the government must prioritize helping TESDA graduates secure jobs as soon as […]

DICT invites bids for LEO satellite project

THE Department of Information and Communications Technology (DICT) on Monday opened the bidding for the P179.49-million contract to provide low-earth orbit (LEO) satellite for geographically isolated and disadvantaged areas (GIDAS). In a bid notice, the DICT invited interested parties to submit proposals for the provision of internet access via LEO satellites for GIDAs. According to […]

Police seize suspected NPA arms cache in Cagayan

BAGUIO CITY — Police uncovered a cache of firearms, explosives and ammunition believed to have been hidden by New People’s Army (NPA) rebels in a former hideout in Mabuno village in Gattaran, Cagayan. The arms cache was recovered in an intelligence-driven operation after a former rebel disclosed its location, authorities said. Recovered were three M76 […]

PSEi hits near 3-week high before inflation data

THE MAIN INDEX climbed back to 6,200 level on Monday to hit a near three-week high as hopes that Philippine inflation eased further last month supported buying activity. The Philippine Stock Exchange index (PSEi) rose by 0.58% or 35.96 points to close at 6,223.99, while the broader all shares index went up by 0.53% or […]

Palace sees no immediate impact on soft loans following UMIC elevation

THE Philippines’ elevation to upper-middle income country (UMIC) status will not immediately affect the terms of its multilateral loans or the government’s financing plans for the 2027 national budget, Malacañang said on Monday. At a briefing, Palace Press Officer Clarissa A. Castro quoted Finance Secretary Frederick D. Go as saying that multilateral development institutions typically […]

PPP Center to help identify agricultural projects attractive to private sector

THE Department of Agriculture (DA) said it tapped the Public-Private Partnership (PPP) Center to help package agriculture PPPs that will be attractive to private investors. Agriculture Secretary Francisco P. Tiu Laurel, Jr. and Undersecretary for Agro-Marine Industrial Systems Arrey A. Perez met with PPP Center Executive Director Rizza Blanco-Latorre and Deputy Executive Director Eleazar E. Ricote, […]

DA approves P2.06B worth of rural road projects

THE Department of Agriculture (DA) said on Monday that it approved the construction of P2.06 billion worth of farm-to-market roads and bridges. Agriculture Secretary Francisco P. Tiu Laurel, Jr. said the projects involve 66 kilometers of farm-to-market roads and 310 linear meters of bridges in Zambales, Oriental Mindoro, Masbate, Samar, Bukidnon, and North Cotabato. Also […]

Canada BPO NQX planning P630-M expansion of facility in Taytay, Rizal

NQX, a Canadian business process outsourcing (BPO) company, is planning a P632-million expansion in Taytay, Rizal, the Department of Trade and Industry (DTI) said. The expansion is expected to create 725 new jobs in Taytay, the DTI said in a statement on Monday. NQX is also considering sites in Laoag City, Dagupan City, or Legazpi […]

ODA projects to be fast-tracked before concessional loans dry up — Balisacan

THE GOVERNMENT will fast-track the approval of official development assistance (ODA)-funded projects over the next three years to maximize access to concessional financing following the Philippines’ elevation to upper-middle income country (UMIC) status, economic planners said. Economy Secretary Arsenio M. Balisacan said the Philippines will continue to qualify for some concessional loans for the time […]

PEZA expects UMIC status to help PHL climb value ladder in manufacturing, AI investments

THE Philippine Economic Zone Authority (PEZA) said achieving upper-middle income country (UMIC) status is expected to create opportunities to attract higher-value investments to its economic zones (ecozones). In a statement, PEZA said UMIC can help improve investor perceptions, thereby attracting “more high-value, technology-driven, and innovation-intensive investments in sectors such as advanced manufacturing, semiconductors, electronics, green […]

Industry Shared Services Centre registered as PEZA IT enterprise

THE Philippine Economic Zone Authority (PEZA) said it signed a registration agreement with Industry Shared Services Centre, Inc., certifying it as a new information technology (IT) enterprise. “Under the agreement, the company will establish and operate its registered IT Enterprise at McArthur Highway, Matina IT Park, Davao City, Davao del Sur,” PEZA said in a […]

PHL, Denmark sign development financing deal

THE Philippines entered into a partnership with Denmark with the aim of mobilizing financing for priority development programs, the Department of Finance (DoF) said. In a statement on Monday, the DoF said the memorandum of understanding promotes financial and developmental cooperation. Signing for Denmark was Ambassador Franz-Michael Skjold Mellbin. “We see this partnership as an […]

Sugarcane pest infestation recedes in Luzon

THE Sugar Regulatory Administration (SRA) said 233.42 hectares (ha) planted to sugarcane on Luzon were infested by the red-striped soft scale insect this year, down 85.2% from a year earlier. The infestation was detected on 151 ha of Batangas farmland, followed by Tarlac (60.42 ha), Camarines Sur (13 ha), and Isabela (9 ha). SRA officials […]

Exporters urged to bundle shipments as workaround to EU e-commerce rules

THE Department of Trade and Industry (DTI) said exporters need to consider bundling their shipments to the European Union (EU) as a workaround to new duties and compliance requirements for electronic commerce (e-commerce) shipments. “Philippine exporters are advised to assess the potential impact of these measures on their pricing structures, logistics arrangements, and customs compliance […]

Energy dep’t receives no response from 121 GenCos issued show-cause orders

SOME 121 power generation companies (GenCos) have not responded to show-cause orders (SCOs) issued by the Department of Energy (DoE), which is currently exploring further investigation and potential penalties. At a briefing on Monday, Energy Secretary Sharon S. Garin said the DoE sent SCOs to 203 generation companies but received replies from a little over […]

The real cost of e-invoicing: Are Philippine businesses ready?

Every year, Wimbledon undergoes a transformation that is almost invisible to casual spectators. The grass is meticulously maintained, and the courts prepared to exacting standards long before the first serve is struck. By the time players step onto Centre Court, the preparations for the tournament are basically invisible. Businesses often experience compliance in much the […]

Philippines races to lock in cheaper loans after upper-middle-income upgrade

The government also plans to give priority to new social sector projects over new infrastructure proposals, while expediting spending for infrastructure projects already underway

Trump says he expects to meet China’s Xi in the U.S. around September 24