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Philippines Business News
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BusinessWorld
Cash remittances up 1.7% in June, slowest in over 4 years
CASH REMITTANCES from Filipinos abroad expanded at its slowest pace in over four years in June even as the monthly level reached a six-month high, Bangko Sentral ng Pilipinas (BSP) data showed.
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BSP says it can still take monetary action amid looming inflation risks
THE Bangko Sentral ng Pilipinas (BSP) left the door open for further monetary policy action as broadening price pressures are expected to keep inflation elevated in the near term, delaying its return to target until 2028.
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Budget deficit seen narrowing in second half of 2026 — DoF
THE NATIONAL Government’s budget deficit is expected to narrow slightly to 5.44% of gross domestic product (GDP) in the second half, which would bring the full-year ratio to its lowest since 2022, the Department of Finance (DoF) said. “In the first half, our deficit-to-GDP ratio improved to 5.46%, compared with 5.65% in the same period […]
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High inflation threatens Philippines’ poverty reduction gains
PERSISTENTLY high inflation could reverse the Philippines’ recent gains in poverty reduction by eroding the purchasing power of poor and low-income households, the Department of Economy, Planning, and Development (DEPDev) said.
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PSE sees P203.4-B capital raising as two IPOs remain
THE Philippine Stock Exchange (PSE) expects capital raising through the equities market to reach about P203.4 billion this year, with two initial public offerings (IPOs) still expected before yearend, PSE President and Chief Executive Officer Ramon S. Monzon said.
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FPH turns down KKR bid for First Gen stake over valuation
LOPEZ-LED First Philippine Holdings Corp. (FPH) has rejected an offer from global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) to acquire part of its stake in First Gen Corp., saying the proposal undervalues the power producer. “After careful deliberation and consideration, FPH has determined that KKR’s proposal does not represent [First Gen’s] true […]
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Ang: SMC to focus on cost discipline, efficiency amid market pressures
SAN MIGUEL CORP. (SMC) will focus on cost discipline and improving efficiency as it navigates continued market pressures, Chairman and Chief Executive Officer Ramon S. Ang said. “We will stay disciplined on costs, continue improving efficiency, and invest in areas that support our long-term growth and the country’s broader economic development,” Mr. Ang said in […]
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DoubleDragon to open 13 properties, outlets in 2nd half as core profit surges
DOUBLEDRAGON CORP. is set to open 13 malls, warehouses, supermarkets, and hotels in the second half as its core net income surged 161.89% in the first six months of the year. The property company will open three additional CityMall community malls, two CentralHub warehouse complexes, five full-sized MerryMart supermarkets and three Hotel101 properties in Davao, […]
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ABS-CBN Q2 loss more than triples to P897 million
ABS-CBN CORP.’s attributable net loss more than tripled in the second quarter (Q2), widening by 209.7% to P897.19 million from P289.74 million a year earlier as revenue declined and general and administrative expenses increased. Revenue for the three months ended June fell by 12.3% to P3.55 billion from P4.04 billion, according to the company’s quarterly […]
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CREC Q2 income more than doubles as new solar farms come online
CITICORE Renewable Energy Corp. (CREC) said its net income more than doubled to P754.95 million in the second quarter (Q2) from P305.47 million a year earlier, driven by newly energized solar farms. Revenues for the three months ended June rose by 29.4% to P1.63 billion, according to the company’s financial report released on Monday. CREC […]
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Teeth celebrates 33 years with reunion tour
PINOY ROCK legends Teeth will return to the concert stage with Year 33: TEETH The Reunion – Legacy Tour, a five-city concert tour running from the end of August to September. Performances will be held at Singapore, Manila, Davao, Iloilo, and Cebu. Though the band defined the local music scene in the 1990s up to […]
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T-bill yields mixed on BSP policy bets
THE GOVERNMENT increased the award of the Treasury bills (T-bills) it offered on Monday even as yields were mixed as it saw strong demand for government debt, and amid easing expectations of aggressive tightening by the Bangko Sentral ng Pilipinas (BSP) as growth prospects remain weak. The Bureau of the Treasury (BTr) raised P54.8 billion […]
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BSP hits digital payments goal as 2025 share hits 64.7% of volume
THE BANGKO SENTRAL ng Pilipinas (BSP) hit its digital payments target last year, driven by the rapid adoption of automated clearing houses and quick response (QR) codes across the country. Based on BSP data presented during the Development Budget Coordination Committee’s briefing for the 2027 National Budget at the House of Representatives on Monday, digital […]
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Visa optimistic on Apple Pay adoption in PHL
GLOBAL PAYMENTS company Visa is optimistic on the adoption of Apple Pay in the Philippines following its launch this month as more financial institutions and merchants work to integrate tap-to-pay services. “The traction is good and we’re very happy with what we’re seeing. So, we’re betting on it. I think it’s going to be successful […]
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Bank lending to agriculture sector tops P3 trillion as of June
BANKS met their mandated lending quota for the agriculture sector as they disbursed over P3 trillion in loans as of June, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. As of end-June, banks lent P3.109 trillion to the agriculture industry, reflecting 89.76% of the banking sector’s P3.464-trillion loanable funds for the period. This […]
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Peso slips on BSP policy signals
THE PESO depreciated further against the dollar on Monday following less hawkish signals from the central bank. The currency weakened by 4.5 centavos to close at P61.495 versus the greenback from its P61.45 finish on Friday, data from the Bankers Association of the Philippines’ website showed. This was its lowest close in more than two […]
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ABS-CBN strays further from return to profitability
ABS-CBN Corp.’s new investors are entering the company at a more precarious state, as its first-half losses doubled to P1.83 billion, pushing it further from profit return.
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Consumer groups: Vape tax loophole a gift to illicit traders
Consumer advocacy groups have urged Congress to scrap what they described as a “glaring loophole” in the country’s vape excise tax system, warning that the current distinction between nicotine salt and freebase nicotine allows unscrupulous operators to misdeclare products, evade taxes, and rob the government of much-needed revenues.
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Dairy imports grow 2% in first semester
The country’s dairy imports increased by two percent to over 1.7 million metric tons in liquid milk equivalent in the first half of 2026, according to the National Dairy Authority.
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Digital payments now make up 64.7% of Philippines retail transactions
Digital payments accounted for 64.7 percent of total Philippine retail transactions by volume in 2025, up from 57.4 percent a year earlier as the shift toward electronic payment channels continued to gain ground, according to the Bangko Sentral ng Pilipinas.
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DoubleDragon off to roaring start in H1
DoubleDragon Corp., the listed company chaired by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, came out roaring in the first six month of the year as core earnings more than doubled.
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First Holdings thumbs down KKR offer
First Philippine Holdings Corp. of the Lopez Group has rejected Kohlberg Kravis Roberts & Co. L.P. proposal to buy a portion of its stake in First Gen Corp., saying that the offer does not represent the listed power firm’s true value.
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More BYD models coming as EV demand heightens
New energy vehicle maker BYD is looking to strengthen its presence in the Philippines by expanding its offerings amid rising demand for electrified vehicles.
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