Philippines Business News
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170 articles from BusinessWorld Economy
PCCI urges immediate signing of JAO to address port congestion, high logistics costs
THE Philippine Chamber of Commerce and Industry (PCCI) called for the immediate signing of the joint administrative order (JAO) that will establish a framework to help ease port congestion and regulate cargo handling charges. In a statement on Monday, the PCCI said the JAO will address the high logistics costs, non-transparent ancillary charges, and recurring […]
Read more →PHL well-stocked with food as El Niño looms — DA
AGRICULTURE Secretary Francisco P. Tiu Laurel, Jr. said food stocks are ample ahead of the El Niño event expected later this year, while crop production is being optimized and assistance to affected farmers is being readied. In an interview on the Money Talks with Cathy Yang on One News program on Monday, Mr. Laurel said inventories […]
Read more →Upholding due process in BIR tax assessments
Taxation is one of the inherent powers of the State. The famous dictum of the US Supreme Court Chief Justice John Marshall in McCulloch v. Maryland that “the power to tax involves the power to destroy” has long illustrated the breadth of the taxing power of the State. Taxes are the lifeblood of the government […]
Read more →DENR sees potential P38T in forestry investments
THE Department of Environment and Natural Resources (DENR) said it will open up suitable forest land for investment, adding that forests could generate up to P38 trillion from parties interested in developing them. Sustainable forestry investments are projected to generate P38 trillion in production value from 2027 to 2052, specifically from agroforestry and tree plantation […]
Read more →Abalos offers mediation between firms, agencies to advance EoDB agenda
CABINET SECRETARY Benjamin D. Abalos, Jr. said he is available to mediate between businesses and government agencies to advance the implementation of the Ease of Doing Business (EoDB) law. Mr. Abalos had met with a delegation representing the Philippine Chamber of Commerce and Industry, the Philippine Exporters Confederation, Inc.; Philippine Stock Exchange Council of Leaders; […]
Read more →LGU applications to incur debt hit P8.49B in July
THE NUMBER of debt certifications issued by the Bureau of Local Government Finance (BLGF) more than tripled in July, covering P8.49 billion in proposed local government borrowing. The BLGF issued 22 new Certificates of Net Debt Service Ceiling and Borrowing Capacity during the month, more than triple the seven certificates issued in July last year. […]
Read more →PHL lobbies US for removal of 12.5% forced-labor tariff
THE US has already received the Philippine government’s joint administrative order (JAO) to investigate the import of goods made with forced labor, in a bid to get Washington to reconsider the 12.5% tariff imposed in its exports, a trade official said. “We are in close coordination with the USTR (US Trade Representative) in terms of […]
Read more →Poultry, livestock output seen positive in Q2 due to strong supply, production
POULTRY and livestock in the second quarter are estimated to have improved year on year due to excess supply of poultry and improved livestock and hog production, industry officials said. Elias Jose M. Inciong, chairman of the United Broiler Raisers Association, said poultry output is expected to increase, with the surplus offsetting poor farmgate prices […]
Read more →NGO bats for more safeguards to prevent corruption in budget
GOVERNMENT WATCH Convenor-Director Joy G. Aceron said the budget should be accompanied by stronger corruption-prevention measures. “The DBM must push the agencies more to identify and address corruption- and inefficiency-prone programs and projects,” she said. Ms. Aceron said the Department of Budget and Management (DBM) should examine Commission on Audit (CoA) reports and address their […]
Read more →Philguarantee-covered agri loans up 43% in first half
AGRICULTURAL LOANS covered by the Philippine Guarantee Corp. (Philguarantee) rose 42.96% in the first six months, driven by increased lending activity by partner lending institutions (PLIs) supporting small farmers and fisherfolk (SFFs). In its Agricultural Guarantee Fund Pool status report, the state-run corporation said year to date total guaranteed loans hit P3.34 billion at the […]
Read more →What finance leaders need to know about upcoming PFRS changes
For many finance teams, reporting obligations seemingly continue to expand. However, as businesses grow more complex, financial reporting does not always need to become heavier. The latest Philippine Financial Reporting Standards (PFRS) developments point toward a more proportionate approach — one that balances transparency, relevance, and practicality. Finance leaders should note three key developments: (1) […]
Read more →IPOPHL seeking to raise IP rights awareness among students
THE Intellectual Property Office of the Philippines (IPOPHL) said it wants to collaborate with the Department of Education (DepEd) and Commission on Higher Education (CHED) to increase student awareness of intellectual property (IP) rights. “We’re looking forward to sitting down with DepEd and CHED to see how we could be able to increase the understanding […]
Read more →STT GDC investment expected to support domestic supply chains, elevate job quality
THE Department of Trade and Industry (DTI) said investment by Singapore data center company ST Telemedia Global Data Centres (STT GDC) is expected to support domestic supply chains and create high-paying technical jobs. “Beyond building essential digital infrastructure, STT GDC’s expansion — strengthened by its local partnership with Ayala Corp. and Globe — directly stimulates […]
Read more →AF Precision Components, Inc. registers as PEZA logistics firm
THE Philippine Economic Zone Authority (PEZA) said it approved AF Precision Components, Inc.’s (APCI) registration as an ecozone logistics service enterprise. In a social media post on Monday, PEZA formalized its registration agreement with APCI, which will operate within the Cavite Economic Zone. The facility has an estimated project cost of P7.65 million, and is […]
Read more →BoC July collections hit record P95.85 billion
THE Bureau of Customs (BoC) said July collections hit a record posted P95.85 billion, exceeding its target by 4.7%. In a statement on Monday, the BoC said the July haul was also 12.5% higher than the P85.18 billion collected a year earlier. This brought collections in the seven months to July to a record P587.71 […]
Read more →Making enhanced deductions regime work for registered business enterprises
In investment decisions, tax incentives should not be treated as an afterthought. They influence pricing, capital allocation, financing assumptions, workforce planning, supply chain strategy, and ultimately, the expected return on a registered project. For registered business enterprises (RBEs), the Enhanced Deductions Regime (EDR) under the CREATE MORE Act is therefore more than a compliance provision. […]
Read more →Competition probe looming for highland vegetable trade
THE Philippine Competition Commission (PCC) and the Department of Agriculture’s (DA) Cordillera Administrative Region (CAR) office said they discussed competition issues in the highland vegetable trade, particularly involving carrots and cabbage. In its market study on highland vegetables, the PCC found that farmers face production and profitability constraints, imbalances in market power and bargaining positions […]
Read more →Maharlika signs MoU with Morocco wealth fund
THE Maharlika Investment Corp. (MIC) said it signed a memorandum of understanding (MoU) with Morocco’s sovereign wealth fund, Ithmar Capital. According to the MIC, the partnership will facilitate the exchange of expertise and best practices between the two sovereign wealth funds. “We are eager and grateful for the opportunity to participate in mutual capacity building […]
Read more →NSCR, MRT-7 on track to start some operations by 2027 — DoTr
THE Department of Transportation (DoTr) is confident of completing the construction of the North South Commuter Railway (NSCR) project, with the rail line hitting a 62% progress rate overall. The department affirmed President Ferdinand R. Marcos, Jr.’s commitment during his State of the Nation Address that the two major rail projects will be partially operational […]
Read more →DoF sets rules for claiming enhanced deductions
THE Department of Finance (DoF) said it will allow eligible registered business enterprises (RBEs) to claim additional tax deductions of up to 100% on certain expenses under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. In Advisory No. 010-2026, the Fiscal Incentives Review Board circularized […]
Read more →Singapore stormwater strategy held up as example for Philippine flood control
THE PHILIPPINES can draw lessons from how Singapore manages stormwater, which has mitigated flooding in the city-state by improving its drainage network, Singapore’s national water agency PUB said. Ryan Yuen, managing director of PUB Consultants Pte. Ltd. (PUBC), a unit of PUB, said Singapore maintains a separate stormwater system from its used water collection system, […]
Read more →PHL, South Korea launch agricultural data platform
THE Department of Agriculture (DA) said on Wednesday that it launched the Agriculture-based Central Data Ecosystem (AbCDE) platform, which is designed to improve agricultural services through better data management. The AbCDE consolidates agricultural data to improve analysis and trigger government intervention when needed. It also streamlines public services such as joining the Registry System for […]
Read more →Fish import quota of 250,000 MT coming into force in 4th quarter
AGRICULTURE SECRETARY Francisco P. Tiu Laurel, Jr. said that the Department of Agriculture (DA) will enforce the 250,000-metric ton (MT) quota on fish imports at the end of the fishing season in the fourth quarter. The import restrictions were originally due to kick off on Aug. 1, but Mr. Laurel told reporters that it was […]
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