Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
311 articles from BusinessWorld Economy
Bonded storage system set up for jet fuel used internationally
The Bureau of Customs (BoC) has established a bonded storage facility for aviation fuel, allowing international airlines to avoid paying taxes upfront and seek refunds later with the government seeking to reduce their operating costs. Customs Assistant Commissioner Vincent Philip C. Maronilla said the new system is intended to ease the cost burden on airlines […]
Read more →Palay, corn production estimated to have fallen in third quarter
Palay (unmilled rice) and corn production in the third quarter were estimated to have decreased 15% and 14.4% year on year respectively, according to a survey of standing crops before the period ended, the Philippine Statistics Authority (PSA) reported. As of Aug. 1, the PSA estimated palay output for the third quarter of 3.19 million […]
Read more →Two-wheeled EVs proposed for inclusion in gov’t incentive plan
THE Electric Vehicle Association of the Philippines (EVAP) asked the government to consider including two- and three-wheeled vehicles in its Electric Vehicle Incentives Strategy (EVIS), noting that their adoption is crucial to meeting gov-ernment clean-mobility targets. “We totally support the local production of [EVs,],” EVAP President Willy G. Tee Ten told reporters on the sidelines […]
Read more →Ground broken on subway station at NAIA Terminal 3
The Department of Transportation (DoTr) said ground has been broken on the airport station of the Metro Manila Subway Project (MMSP). “This NAIA (Ninoy Aquino International Airport) station will have mass public transport… a big help to commuters,” Acting Transportation Secretary Giovanni Z. Lopez said on Wednesday. The DoTr said the NAIA Terminal 3 station […]
Read more →Leading Indian carrier IndiGo applies to offer PHL services
THE Department of Trade and Industry (DTI) said Indian low-cost airline IndiGo, that country’s top carrier by passenger…
Read more →Indian firms weighing P4B in PHL expansions
THE Department of Trade and Industry (DTI) said Indian companies currently active in the Philippines are considering investing…
Read more →BoC still upbeat on revenue target despite freeze on LPG excise tax
THE Bureau of Customs (BoC) said it remains confident it will surpass its P1.011-trillion revenue target this year even with a looming suspension of excise taxes on kerosene and liquefied petroleum gas (LPG). “We are looking at the possibility of hitting the target, and on top of that we will exceed it by P10 billion,” […]
Read more →Gas auction to offer resources equivalent to 3,800 MW in capacity
THE Department of Energy (DoE) said it will offer gas resources with the potential to generate more than 3,800 megawatts (MW) of capacity for the upcoming mid-merit natural gas auction. “The gas will serve a specific purpose, which is to support (the transition to) renewable energy generation. Every time that there is a decline in […]
Read more →Ube export freeze firm evidence of global demand strength — BMI
THE Department of Agriculture’s (DA) decision to suspend exports of fresh purple yam (ube) reflects the strength of global demand for the crop and the Philippine desire to safeguard its unique varieties, Fitch Solutions unit BMI said. In a report issued Sept. 14, BMI said demand for ube has become strong enough to create supply-side constraints because […]
Read more →Pag-IBIG loan growth seen at risk as shelter agencies face budget cuts
LOAN GROWTH at the Home Development Mutual Fund (Pag-IBIG Fund) faces a slowdown as government agencies responsible for providing housing were allocated much less funding than they requested, analysts said.
Read more →Space agency enlisted in food-security efforts
THE Department of Agriculture (DA) said it signed a five-year collaboration agreement with the Philippine Space Agency (PhilSA) to use Earth observation, geospatial information, and space-based technology to improve agricultural and fisheries production, disaster response, and climate-resilient planning. The DA and PhilSA agreed to explore the use of satellite-based tools to monitor crop conditions, map […]
Read more →WTO members urged to uphold rules-based trading system amid rising protectionism
MEMBERS of the World Trade Organization (WTO) need to uphold the rules-based trading system even in the face of rising protectionism as markets weigh their national interests at a time of geopolitical disruption, the WTO said. “The multilateral trading system was built on the recognition that stable and mutually beneficial economic relations require institutions, rules […]
Read more →Zero-system loss target to be phased in gradually to avoid stress on power co-ops
THE Department of Energy (DoE) said it hopes to bring system losses to zero eventually, with the pace calibrated to avoid undue stress on power cooperatives. “The removal of the (value-added tax on system losses) was done already by BIR, and now we’re working on the gradual reduction up to zero of system losses. This […]
Read more →PHL pork output seen rising 4.4% in 2027, beef output steady
PHILIPPINE PORK production is projected to increase 4.4% to 1.06 million metric tons (MMT) in 2027, while beef production is expected to remain little changed from its 2026 estimate of 174,000 MT, the US Department of Agriculture (USDA) said. In a report, the USDA’s Foreign Agricultural Service in Manila said pork production in 2027 is […]
Read more →GOCC subsidies fall 30.52% in July
NATIONAL GOVERNMENT subsidies provided to government-owned and -controlled corporations (GOCCs) declined by more than 30% in July, the Bureau of the Treasury (BTr) said. The BTr said subsidies amounted to P6.76 billion in July, down 30.52% from a year earlier. The government provides subsidies to GOCCs to help cover operational expenses not supported by their […]
Read more →PHL reliance on coal for power generation to continue, IEA says
THE PHILIPPINES is likely to maintain its coal consumption this year, with coal-fired power plants still being depended for baseload electricity needs, the International Energy Agency (IEA) said. In its Coal Mid-Year Update 2026, the IEA said coal demand in Southeast Asia is projected at around 574 million tons, fueled by strong demand from Indonesia […]
Read more →Authorized Economic Operators: Creating stronger customs-to-business partnerships
Striking a balance between trade facilitation and border security have always been a challenge for customs administrations. Businesses require the rapid and seamless flow of goods across borders while governments need to ensure that international supply chains are safe from threats such as theft, cybercrime and terrorism.
Read more →Ease of doing business seen as key to addressing joblessness
THE GOVERNMENT will focus its job-creation efforts on improving the ease of doing business, through which it hopes to attract more investment, Malacañang said on Wednesday after the unemployment rate rose to 6% in July, its highest level in four years.
Read more →Eligible exporters allowed to claim VAT refunds pending zero-rating certification
THE Bureau of Internal Revenue (BIR) said qualified export-oriented enterprises may claim refunds for value-added tax (VAT) paid on eligible purchases and imports while waiting for their zero-rating certification. “Export-oriented enterprises (EOEs) received their VAT zero-rating certifications on different dates during the transition period,” BIR Commissioner Charlito Martin R. Mendoza said in a statement on […]
Read more →Over 100,000 households identified as potential microgrid customers
THE Department of Energy (DoE) said it set a target of more than 100,000 households in remote areas to be potentially served by microgrids in the next project bidding round. In a statement on Wednesday, the DoE said it identified 369 unserved and underserved areas across 23 provinces for potential inclusion in the upcoming microgrid […]
Read more →Banana exporters sign deals to ship saba to Hong Kong, New Zealand
THE Department of Agriculture (DA) said on Wednesday that banana exporters signed contracts with Hong Kong and New Zealand companies to supply Cardaba bananas (saba). The contracts were signed during the Asia Fruit Logistica exhibition in Hong Kong, to which the Philippines returned after a 10-year absence. Arnel V. De Mesa, DA spokesman and agriculture […]
Read more →PHL students more dependent on AI than peers in OECD — PISA
FILIPINO STUDENTS are turning to artificial intelligence (AI) for schoolwork at higher rates than their peers in most Organisation for Economic Co-operation and Development (OECD) countries, according to the 2025 Programme for International Student Assessment (PISA).
Read more →LRT-1 Las Piñas construction timeline estimated at 3 years
THE Department of Transportation (DoTr) said it expects a three-year construction timeline for the Las Piñas station of the Light Rail Transit Line 1 (LRT-1) Cavite extension. “Once we have the formal permit to enter, we will proceed with the demolition. Based on our estimate, it will take three years including demolition, acquisition, design and […]
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