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Philippines Business News
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Philippines reaches upper-middle income status — World Bank
The World Bank upgrade marks a long-sought economic milestone for the Philippines, but high prices, underemployment, and income inequality continue to plague millions of Filipinos
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Philippine manufacturing PMI improves in June
By Justine Irish D. Tabile, Senior Reporter PHILIPPINE FACTORY activity continued to expand in June amid stronger output and new orders, S&P Global said on Wednesday. S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) inched up to 50.9 in June from 50.8 in May, signaling a second consecutive month of modest improvement in operating conditions […]
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Philippine GDP likely grew 2.6% in Q2, says UA&P
THE PHILIPPINE ECONOMY is expected to have further slowed in the second quarter, as gross domestic product (GDP) growth likely eased to 2.6% due to elevated inflation and weaker domestic demand, the University of Asia and the Pacific (UA&P) said. “The Philippine economy is posting early signs of recovery momentum, but the outlook remains constrained […]
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Approved building permits edge up 0.8% in 2025
APPROVED BUILDING PERMITS inched up by 0.8% year on year in 2025, as construction activity moderated amid macroeconomic headwinds and the flood control mess in the second half of the year, analysts said.
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NCR retail price growth slows to 2-month low in May
RETAIL PRICE GROWTH of general goods in Metro Manila grew to its slowest pace in two months in May, driven by an easing in prices of mineral fuels and lubricants, the Philippine Statistics Authority (PSA) said. Citing preliminary data, the PSA said the general retail price index (GRPI) in the National Capital Region (NCR) rose […]
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Hotel101 enters Thailand with 770-room project
HOTEL101 Global Holdings Corp. is entering Thailand with its first hotel project in the country after signing definitive binding agreements with Thailand-based Origin Property PCL to jointly develop Hotel101-Bangkok, a 770-room property. In a statement on Wednesday, the Nasdaq-listed subsidiary of DoubleDragon Corp. (DD) said the project will rise on an 8,336-square-meter (sq.m.) site along […]
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San Miguel unit gets ERC nod for P1.7-B transmission project
SAN MIGUEL Global Power Holdings Corp. (SMGP), the power generation arm of San Miguel Corp. (SMC), has secured regulatory approval to build a P1.7-billion dedicated transmission facility to connect the expansion of its Masinloc coal-fired power plant to the Luzon grid. In a 19-page decision, the Energy Regulatory Commission (ERC) authorized Masinloc Power Co. Ltd. […]
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Proposed social media ban for minors may pose security, privacy risks
A PROPOSED social media ban for Filipinos under 16 years old may do more harm than good and still fail to keep them off the internet, with identity verification requirements also likely to create data governance issues, stakeholders said. Wayvent Innovations, Inc. President Emmanuel Caguimbal said infrastructure to bypass age restrictions is already a “mainstream […]
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AI data center boom needs renewables — IBM Consulting
RENEWABLE ENERGY and battery energy storage systems will be critical to meeting the Philippines’ rising electricity demand from data centers as artificial intelligence (AI) adoption accelerates, according to an IBM Consulting executive.
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BSP says wholesale CBDCs can reduce transaction costs, lags
CROSS-BORDER PAYMENTS, including remittances and institutional transfers, and financial securities settlement are among the most promising applications for a wholesale central bank digital currency (wCBDC) in the Philippines, the Bangko Sentral ng Pilipinas (BSP) said. A report on the central bank’s Project Agila, its pilot project to explore the potential introduction of wCBDCs in the […]
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AI’s greatest defense value may lie in intelligence, not combat
MADRID — Artificial intelligence (AI) is already being used in military drones and defense planning, but industry executives said it may be most valuable for intelligence gathering and decision-making rather than autonomous weapons.
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The Pen looks back over 50 years
SOME of the better moments of one’s life in the Philippines may have been spent at The Peninsula Manila: think weddings, birthdays, and anniversaries, all wrapped up in The Pen’s charm and elegance. Adding to that is its history, spanning 50 years since its opening in 1976 all the way to its 50th anniversary this year.
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SEC warns against two Finbro apps
THE Securities and Exchange Commission (SEC) has warned the public against two online lending applications allegedly misusing the name and regulatory credentials of SOFI Financing, Inc. In an advisory, the corporate regulator said SOFI Financing had informed the SEC that the applications are not owned, operated, maintained, authorized, or affiliated with the company. The SEC […]
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From startup to profitability: The radical reinvention of PayMongo
Fintech is a hot new growth industry where the Philippines is making a significant contribution to the world. One need look no further than Mynt’s GCash to see how Filipinos are shaping the future of finance. But if you do, you’ll find a host of fintech companies each using technology to serve the needs of […]
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Credential abuse becomes preferred cyberattack tactic, Kaspersky says
CREDENTIAL ABUSE is among the most effective techniques used by cyberattackers, with criminals now increasingly relying on these tactics over malware, according to a report by Kaspersky Security Services. Attackers found better success in getting access to users’ data while evading detection via password guessing and valid account misuse in 2025, triggering a shift from […]
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Brunch, Japanese- (and French-) style
THE French and the Japanese have a great mutual admiration for each other, perhaps best proven by the refinement their cultures are said to have, both taking from each other. In a brunch menu by Kazu Café, done in collaboration with chef Miko Calo, this intersection of cultures can be seen and tasted in a […]
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TDF yield climbs on hawkish BSP, Fed
THE CENTRAL BANK’S term deposit facility (TDF) fetched a higher average yield on Wednesday, even as the offer continued to be oversubscribed, amid expectations of hawkish monetary policy here and in the United States. The seven-day term deposits auctioned off by the Bangko Sentral ng Pilipinas (BSP) attracted P146.927 billion in tenders this week, higher […]
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LT Group completes renewable shift with First Gen
LT GROUP, Inc. (LTG) has completed the transition of its key operating companies to renewable energy through a power supply partnership with Lopez-led First Gen Corp. In a statement on Wednesday, First Gen said LTG’s affiliate companies have successfully shifted to renewable energy under their power supply agreement. The agreement covers Philippine Airlines, Inc. (PAL), […]
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Identity as password
I have two phones: one that uses primarily Face ID and PIN to unlock and to do certain transactions, and another that uses a thumbprint and PIN. Which is safer? Which is more secure? And with authorities now requiring banks to end text-based OTP (one-time password) confirmations for financial transactions, which is safer and more […]
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Samsung Galaxy A27 5G available in PHL starting July 10
SAMSUNG Electronics Co., Ltd. last week launched the Galaxy A27 5G, which will be available in the Philippines starting July 10. The latest addition to the Galaxy A series is priced at P18,990 for the 6GB memory + 128GB storage variant, while the 8GB+256GB model costs P21,990. It has three colors: Black, Blue, and Light […]
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BPI sees stronger customer growth with expanded agency banking, free transfers
BANK of the Philippine Islands (BPI) expects its customer growth to be supported by the continued expansion of its agency banking program and its move to permanently remove InstaPay and PESONet transfer fees. BPI President and Chief Executive Officer Jose Teodoro K. Limcaoco said at a media roundtable on Wednesday that their May BPI Dito […]
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Peso tumbles to over three-week low
THE PESO tumbled to an over three-week low on Wednesday as demand for the dollar was fueled by hawkish US Federal Reserve expectations and continued uncertainty over the Middle East war. The currency fell by 26.1 centavos to finish at P61.621 versus the greenback from P61.36 on Tuesday, based on Bankers Association of the Philippines […]
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AUB leverages generative AI, digitalization as it eyes continued growth
ASIA United Bank Corp. (AUB) has crafted a strategic roadmap showing how it aims to leverage technology and artificial intelligence (AI) to ensure continued growth despite domestic and global economic challenges. AUB is integrating generative AI across its operations in response to evolving customer needs, it said. “Moving beyond basic operational efficiency, AUB is actively […]
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