Philippines Business News
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1901 articles from BusinessWorld
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 […]
Read more →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, […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →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 […]
Read more →SEC and GCash lending arm Fuse to roll out nationwide campaign to promote safe, responsible digital borrowing
The Securities and Exchange Commission (SEC) has partnered with Fuse Financing, Inc., the lending arm of GCash, to launch a nationwide financial literacy campaign that empowers Filipinos to borrow responsibly, recognize unlicensed lenders, and protect themselves from predatory lending and financial distress. The campaign features SEC-approved educational videos designed to promote responsible borrowing, help consumers […]
Read more →BFAR earns highest CoA audit rating for 4th straight year
The Bureau of Fisheries and Aquatic Resources (BFAR) has secured the Commission on Audit’s (CoA) Unmodified Audit Opinion, the highest audit rating, for the fourth consecutive year, reflecting its commitment to fiscal integrity and clean governance. The distinction covers the Bureau’s Consolidated Annual Audit Report, including financial operations of its Central Office and all 16 […]
Read more →Super Typhoon Bavi likely to enter PAR as early as Tuesday
Super Typhoon Bavi (international name) may enter the Philippine Area of Responsibility (PAR) in the coming days and enhance the southwest monsoon, bringing strong winds and heavy rainfall to parts of the country, according to the state weather bureau on Monday. “If the super typhoon’s movement and direction do not change,” Aldczar D. Aurelio, weather […]
Read more →June inflation likely eased for second month in a row — poll
PHILIPPINE INFLATION likely eased for a second straight month to a three-month low in June as lower oil and rice prices offset higher electricity rates, analysts said.
Read more →National Government’s debt service bill rises in May
THE NATIONAL GOVERNMENT’S (NG) debt service bill jumped by over 21% in May amid higher interest and amortization payments, the Bureau of the Treasury (BTr) said.
Read more →PSE’s capital-raising target hiked to P204B
THE PHILIPPINE Stock Exchange (PSE) expects companies to raise about P204 billion through the capital market in 2026, based on applications received so far, exceeding its initial target of P170 billion. At a media briefing on Saturday, PSE President and Chief Executive Officer Ramon S. Monzon said the revised forecast is backed by applications received […]
Read more →Philippine CEOs bullish on AI, but cite talent, infrastructure gaps — Deloitte
PHILIPPINE chief executive officers (CEOs) are confident in using artificial intelligence (AI) in major company decisions, but workforce readiness and infrastructure deficiencies remain key bottlenecks, according to advisory services firm Deloitte Philippines.
Read more →APECO pitches Malaysian investors on clean-energy, airport dev’t projects
THE Aurora Pacific Economic Zone and Freeport Authority (APECO) said it is soliciting clean energy and airport development investments from Malaysian firms. In a statement over the weekend, APECO said it will mount an investment mission to Malaysia on July 7-9. The mission will also gauge interest in seaport development, with APECO positioning itself as […]
Read more →Market seen capable of absorbing Mynt, VITRO offerings
THE Philippine stock market appears capable of absorbing the planned offerings of Mynt, Inc. and VITRO, Inc., analysts said, while Philippine Stock Exchange (PSE) President and Chief Executive Officer Ramon S. Monzon said appropriately timing the transactions could help ease temporary funding pressures.
Read more →Meralco Q2 energy sales volume edges up on warmer weather
MANILA ELECTRIC Co. (Meralco) posted a slight increase in energy sales volume in the second quarter, driven mainly by warmer temperatures associated with the onset of El Niño. Initial data showed that energy sales volume rose by 0.6% year on year to 14,495 gigawatt-hours (GWh), Charina P. Padua, Meralco senior vice-president and head of customer […]
Read more →PHL auto sales rebound in May
EVEN WITH the US-Iran war in full swing last May, local auto sales registered a hefty rebound, per the consolidated report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA). Versus April, total May sales hiked by 24% to reach 33,532 units. Factoring in non-CAMPI-TMA firms, total sales […]
Read more →T-bill, bond rates may be mixed on PHL inflation, Fed hike bets
YIELDS on the Treasury bills (T-bills) and Treasury bonds (T-bonds) up for auction this week may end mixed amid inflation and rate hike bets. The Bureau of the Treasury (BTr) will auction off up to P60 billion in T-bills on Monday, or P20 billion each in 91- and 182-day papers and P10-20 billion in 364-day […]
Read more →Ayala Land rises on bargain hunting, expansion plans
SHARES of Ayala Land, Inc. (ALI) rose last week as investors hunted for bargains after the property developer announced fresh investments in its 320-hectare (ha) Lio estate in El Nido, Palawan.
Read more →VinFast electrifies drive-to-earn space
ASK VINFAST officials and they will say that full-electric mobility has already moved well beyond novelty — emerging as a practical and viable path toward sustainable transportation and more cost-efficient ownership. But the battery electric vehicle (BEV) specialist believes the proposition should not stop there. Why not, it argues, harness the advantages of the format […]
Read more →Ube association proposed to address export demand
BUREAU of Plant Industry (BPI) Director Gerald Glenn F. Panganiban said the Department of Agriculture (DA) is floating the idea of a purple yam (ube) exporter association to set standards and meet growing international demand for the crop. Agriculture Secretary Francisco P. Tiu Laurel, Jr. met with members of the ube industry last week to […]
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