Philippines Business News
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170 articles from BusinessWorld Economy
Delays in land-use legislation eroding food security — DEPDev
CONGRESS must pass long-delayed national land use legislation to help address elevated food inflation as agricultural land shrinks and rice production fails to keep pace with population growth, the Department of Economy, Planning, and Development (DEPDev) said.
Read more →Coal transition policy assumes up to 5 GW of new capacity from coal plants
THE Department of Energy (DoE) said it is set to introduce a coal transition policy that will accommodate up to 5 gigawatts (GW) of new capacity from coal-fired power plants not covered by the moratorium currently in force. Energy Undersecretary Rowena Cristina L. Guevara said the new capacity will help fill the gap left by […]
Read more →Why trust is the new competitive advantage
In an era defined by rapid technological change, rising uncertainty, and shifting stakeholder expectations, trust has become one of the most valuable assets an organization can possess.
Read more →Gov’t to settle CARS obligations before focusing on EV incentives program
THE GOVERNMENT is committed to settling its arrears from the Comprehensive Automotive Resurgence Strategy (CARS) Program before shifting its focus on programs that incentivize electric vehicle (EV) manufacturing, the Department of Trade and Industry (DTI) said. Speaking to reporters on Wednesday, Trade Secretary Maria Cristina A. Roque said it is looking to settle its P5.16-billion […]
Read more →Coal-blending facility seen allowing more use of domestic resources
THE Department of Energy (DoE) said it is proposing the establishment of the country’s first coal-blending terminal, adding that such a facility will permit greater use of domestic coal. “I hope this will interest some also coal terminal in the Philippines because our dependence on Indonesian coal as our fuel is due to the fact […]
Read more →MAP warns corrupt budget will erode investor confidence
THE Management Association of the Philippines (MAP) urged the government to be more transparent in the course of passing the 2027 budget, warning that credibility with investors is at stake if public spending is tainted by corruption. “The MAP believes that there must be zero tolerance for hidden insertions, questionable appropriations, favored contractors, ghost or […]
Read more →Offshore wind developers face possible rationing of port access
THE Department of Energy (DoE) said it is considering allocating port access by offshore wind developers. The DoE made the announcement after postponing the fifth round of the green energy auction (GEA-5), which is dedicated to offshore wind, to recalibrate the framework and ensure it proceeds under more favorable conditions. In a draft department circular, […]
Read more →LPG procured during crisis nearly sold out at P60/kilo
THE GOVERNMENT is about to complete the disposal of liquefied petroleum gas (LPG) procured during the energy crisis, but plans to maintain its reserve of diesel, the Department of Energy (DoE) said. Energy Secretary Sharon S. Garin said state-run Philippine National Oil Co. (PNOC) is nearly done disposing of its LPG stocks, which it is […]
Read more →PEZA investment approvals surge 334% in Aug.
THE Philippine Economic Zone Authority (PEZA) said investment approvals surged 334.13% year on year to P64.57 billion in August. In a statement on Tuesday, PEZA said the investment approvals were generated by 22 new and expansion projects. By the end of August, the PEZA Board had approved P216.47 billion worth of investments across 196 new […]
Read more →Port cargo volume rises 4.39% in Q2
THE Philippine Ports Authority (PPA) said cargo volume rose 4.39% year on year in the second quarter, driven by an increase in foreign shipments during the period. Citing preliminary data, the port regulator said cargo throughput for the three months to June hit 86.88 million metric tons (MMT), against 83.23 MMT a year earlier. The […]
Read more →PAGCOR developing app to curb access to unregistered platforms
THE Philippine Amusement and Gaming Corp. (PAGCOR) said it is developing an application that will steer online gamblers to licensed and regulated platforms. Around 50% of online gaming sites accessed in the Philippines are illegal, making it difficult for PAGCOR and law enforcement agencies to attract players toward the regulated sector, PAGCOR Chairman and Chief […]
Read more →DA proposes revival of half-cup rice servings
THE Department of Agriculture (DA) is seeking to revive the Half-Cup Rice Ordinance for restaurants, citing the need to minimize rice wastage. The DA is running a “Be RICEponsible” campaign led by the Philippine Rice Research Institute (PhilRice), whose aims include steering consumers to waste less rice and choose healthier rice. The DA is also […]
Read more →Mondelez bats for review of sugary drinks tax
MONDELEZ PHILIPPINES, Inc. said the government needs to reconsider its proposed tax hike on sugary drinks, noting that any increase in the current level of taxation would strain the industry. “As a company, we urge the government to consider the implications of the SSB (sugar-sweetened beverages) tax not just for the manufacturers, but for the […]
Read more →PHL, Thailand express interest in setting targets for bilateral trade
THE PHILIPPINES and Thailand are looking to set goals for bilateral trade, the Department of Trade and Industry (DTI) said. In the Senior Officials’ Meeting at the inaugural Philippines-Thailand Joint Trade Committee (JTC) on Aug. 14, the two sides discussed opportunities to strengthen trade promotion between the two countries. “A key outcome of the meeting […]
Read more →PHL needs broader spectrum of poverty measurements, analysts say
THE PHILIPPINES needs to supplement its official poverty data with indicators that track economic vulnerability, living standards and households’ ability to withstand financial shocks, analysts said.
Read more →DEPDev hopes to complete AI framework in Sept.
THE Department of Economy, Planning, and Development (DEPDev) said it is targeting the completion of an artificial intelligence (AI) governance framework by September. Economy Undersecretary Rosemarie G. Edillon said the framework is expected to establish safeguards for AI adoption while supporting innovation and improving productivity. “We are actually finalizing an AI governance framework. We hope […]
Read more →PHL pressed to take lead on ASEAN climate security
THE PHILIPPINES needs to take the lead on climate security within the Association of Southeast Asian Nations (ASEAN), making climate resilience part of the region’s security agenda, officials said. Speaking at a climate security forum co-organized by think tank Stratbase Institute and the German Embassy, Environment Secretary Juan Miguel T. Cuna called for climate resilience […]
Read more →A Tax Odyssey: The journey toward QDMTT
In Homer’s The Odyssey, Odysseus sailed through unfamiliar seas for 20 years in his quest to return home to Ithaca. Along the way, he encountered a cyclops, sirens, storms, witches, and countless detours that threatened to pull him away from his destination. But despite these hurdles, his objective remained unchanged: finding his way back home. […]
Read more →More Gen Zs, millennials invest in gold amid economic uncertainties
The Palawan Group of Companies said it has seen an increase among younger generations, specifically Generation Zs and millennials, investing in gold amid global economic uncertainties and shifts. “Millennials are actively investing in gold; that was a big surprise. Now, slowly, we can see some of the Gen Zs also,” Palawan Group of Companies President […]
Read more →JFC forum participants call for clarity on cross-border services tax rules
BUSINESSES need enhanced clarity and consistency regarding Philippine tax rules governing cross-border services, according to participants at a roundtable organized by the Joint Foreign Chambers (JFC). “For the Joint Foreign Chambers of the Philippines, tax certainty is an important component of the investment environment, affecting how companies plan operations, structure transactions, and make investment decisions,” […]
Read more →PHL signs air service agreement with Iceland
THE PHILIPPINES has signed its first ever air service agreement with Iceland, paving the way for daily flights between Manila and Reykjavík, the Department of Transportation (DoTr) said. “This agreement will serve as the foundation for our future air transportation relationship and will provide our airlines with a framework to explore new opportunities for connectivity […]
Read more →Sugar producers see artificial-sweetener rules boosting orders from food industry
THE United Sugar Producers Federation of the Philippines (UNIFED) said on Thursday that the Sugar Regulatory Administration’s (SRA) regulation of artificial-sweetener imports will force food manufacturers to buy domestic sugar. UNIFED President Manuel R. Lamata said that the SRA’s order is “the best thing that has happened to the sugar industry,” adding that the impact […]
Read more →MAP upbeat over PHL recovery next year
THE Management Association of the Philippines (MAP) said it is hoping that the Middle East crisis resolves itself by next year, adding that it expects the spending boost from the runup to the 2028 elections to buoy the economy. “We’re hopeful for 2027,” MAP President Donald Patrick L. Lim told reporters on the sidelines of […]
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