Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
170 articles from BusinessWorld Economy
PHL has potential to again become Nissan’s leading market in ASEAN
NISSAN MOTOR Co., Ltd. said the Philippines could retain its top spot in the ASEAN market in vehicle sales, driven by growing interest in electrified models. “In the ASEAN market, the Philippines is number two, but it has the potential to rise to number one,” Nissan ASEAN and Thailand President Masao Tsutsumi said at a […]
Read more →Photonics company Coherent seeking to expand Philippine manufacturing operation
THE Philippine Economic Zone Authority (PEZA) said Coherent II-VI Laser Enterprise Phils., Inc. is looking to expand its Philippine manufacturing operation. PEZA cited Coherent’s plans to “strengthen the Philippines’ role in the global supply chain for photonics, optical communications, advanced materials, and semiconductor-related technologies.” Coherent has invested about P1.7 billion in its Philippine operations as […]
Read more →Business name registrations down 13% in August
BUSINESS NAME registrations in August declined 13.3% year on year to 64,331, the Department of Trade and Industry (DTI) said. According to the DTI’s business name registration system, 57,783 were new registrations, while 6,548 were renewals. Month on month, business name registrations in August declined 20.68% from July. Some 57,193 registrations recorded during the month […]
Read more →Sugar outlook clouded by weather, pest infestation
THE Sugar Regulatory Administration (SRA) said it expects sugar production and exports to drop this year due to floods in the Negros Island Region, dry spells, and the infestation of the red-striped soft scale insect (RSSI). Speaking on the sidelines of the Department of Agriculture’s budget hearing at the House of Representatives, SRA Administrator Pablo […]
Read more →BIR, BoC on pace to hit targets as of August
THE Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) are on track to meet their revenue targets this year, the Department of Finance said. Finance Undersecretary Rolando T. Ligon, Jr. said the agencies remained on track on their revenue goals as of the end of August. “The BoC has an excess of […]
Read more →NDC says access to Manila Golf by Roque ‘facilitates official functions’
THE National Development Co. (NDC) said its Manila Golf and Country Club (MGCC) membership is a state asset used by the Secretary of Trade and Industry to facilitate official functions. The company’s membership “facilitates the performance of official functions and may provide a venue for meetings and engagements with business leaders, investors, and other stakeholders […]
Read more →Public trust and the promise of tax audit reform
During a recent visit to a BIR office, a sign caught my eye: “Public office is a public trust. Public officers and employees must at all times be accountable to the people, serve them with utmost responsibility, integrity, loyalty, and efficiency, act with patriotism and justice, and lead modest lives.” The statement felt deeply familiar. […]
Read more →Instability of PHL electricity grid preventing data centers from achieving scale — Moody’s
ENERGY SECURITY shortcomings are a key bottleneck for its data center industry, which has not scaled to the extent of its regional counterparts, according to Moody’s Ratings. In a report, Moody’s identified the Philippines and Vietnam as “early-stage” data center markets. “Among the markets covered here, (Philippines) also faces the most acute power availability and […]
Read more →Ecozones need right blend of infra, perks to benefit from data center boom -— WTCA
PHILIPPINE economic zones (ecozones) could capture data center expansion investment amid growing global demand, the World Trade Center Association (WTCA) said. “Free zones that can provide the right combination of infrastructure, incentives, and investment support are exceptionally well-positioned to attract this global industry,” Scott Wang, WTCA vice-president, Asia-Pacific, said in a statement on Tuesday. The […]
Read more →Return to beyond-4% growth seen possible by 4th quarter
THE ECONOMY could return to an above-4% growth path in the fourth quarter, backed by record employment, stronger exports and remittances and an expected rebound in infrastructure spending, the University of Asia and the Pacific (UA&P) said. However, it said third-quarter growth could remain tepid at 2.3% due to delays in infrastructure spending and the […]
Read more →LPG prices set to decline this month
COOKING GAS prices are set to decline this month by around P0.40 per kilogram, the Department of Energy (DoE) said in a statement. The downward adjustment translates to a reduction of around P4.40 for a standard 11-kilo cylinder, according to the DoE, which gained the power to set guide prices during the energy emergency. The […]
Read more →DA, DoE exploring use of cheaper bioethanol feedstock
THE departments of Agriculture (DA) and Energy (DoE) are exploring cheaper and more diverse feedstock options to support the expansion of bioethanol production in the Philippines. Agriculture Secretary Francisco P. Tiu Laurel, Jr. met with Energy Secretary Sharon S. Garin to discuss how to lower feedstock costs, maximize idle distillery capacity, and expand domestic ethanol […]
Read more →Plastic pipes could undergo product certification
THE Department of Trade and Industry said the Bureau of Philippine Standards (BPS) is gearing up to impose mandatory certification for plastic pipes to ensure that they comply with safety requirements. According to a draft department administrative order (DAO), plastic pipes covered under the mandatory certification cannot be distributed without a PS (Philippine Standards) mark […]
Read more →Davao transport modernization on track — DoTr
THE Department of Transportation (DoTr) said the Davao Public Transport Modernization Project remains on track. “This project will bring real, lasting benefits to Dabawenyos — safer rides, shorter travel times, and a public transport system they can count on every day. This is why we continue to work hand in hand with our partners to […]
Read more →System loss removal from VAT to result in P10-billion foregone revenue — DoF
THE GOVERNMENT stands to forego about P10 billion annually from the removal of the 12% value-added tax (VAT) charged against system losses for electricity, Finance Secretary Frederick D. Go said on Tuesday. “I think it’s P10 billion. That’s annually,” he told reporters at the sidelines of an event on Tuesday. He added that the Department […]
Read more →Gov’t urged to ensure productive investments in education, health
INVESTMENTS in education and health are vital to supporting economic expansion, but their impact could be limited if funds are not put to productive use, the Philippine Institute for Development Studies (PIDS) said.
Read more →Construction board, DMW in deal to upskill overseas construction workers
THE Philippine Overseas Construction Board (POCB) signed a memorandum of agreement (MoA) with the Department of Migrant Workers (DMW) to help upskill construction workers overseas. The MoA establishes a framework for closer collaboration between the two parties in promoting workforce preparedness, industry development, market access, and international engagement for the construction sector, the Department of […]
Read more →Interisland infra upgrades seen as key to unlocking domestic trade
IMPROVING domestic trade will hinge on upgrading inter-island infrastructure and lowering transport costs, analysts said.
Read more →The countdown to the Dec. 31 e-invoicing deadline
Sept. 1 means one thing to many Filipinos: Christmas magic is in the air. In the Philippines, the start of the -ber months triggers the playing of Christmas songs, the festive lighting of malls and other establishments, and holiday countdowns. Back-to-back family gatherings and gift shopping will fill calendars. But for taxpayers covered by the […]
Read more →Bataan-Cavite interlink bridge package set for Sept. award
THE Department of Public Works and Highways (DPWH) said it hopes to award the first phase of the $3.91-bil-lion Bataan-Cavite Inter-link bridge project by September. “The two approaches of the Bataan-Cavite (interlink project) are now under construction and we will be awarding the major span of the project within September,” Public Works Secretary Vivencio B. […]
Read more →PEZA targets more shipbuilding locators as global demand grows
THE Philippine Economic Zone Authority (PEZA) said it is looking to attract more shipbuilders to its economic zones, with South Korean yards farming out many of their orders as their own facilities approach capacity.
Read more →Major provincial runway expansions expected to be completed by 2027
THE Department of Transportation (DoTr) said it hopes to complete runway expansions at major provincial airports by 2027. In a statement on Sunday, the DoTr said it is expediting the rehabilitation of major airports to meet a minimum 2,100-meter runway length standard. “As a policy for our new airports, the minimum runway should be 2,100 […]
Read more →NCR retail price growth accelerates in July
RETAIL PRICE growth of general goods in Metro Manila hit a three-month high in July, driven by the machinery and transport equipment segments, the Philippine Statistics Authority (PSA) said. Citing preliminary data, the PSA reported that the general retail price index (GRPI) in the National Capital Region (NCR) grew 4% in July from 0.8% a […]
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