Philippines Business News
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16 articles from BusinessWorld Economy
Exporters urged to bundle shipments as workaround to EU e-commerce rules
THE Department of Trade and Industry (DTI) said exporters need to consider bundling their shipments to the European Union (EU) as a workaround to new duties and compliance requirements for electronic commerce (e-commerce) shipments. “Philippine exporters are advised to assess the potential impact of these measures on their pricing structures, logistics arrangements, and customs compliance […]
Read more →Energy dep’t receives no response from 121 GenCos issued show-cause orders
SOME 121 power generation companies (GenCos) have not responded to show-cause orders (SCOs) issued by the Department of Energy (DoE), which is currently exploring further investigation and potential penalties. At a briefing on Monday, Energy Secretary Sharon S. Garin said the DoE sent SCOs to 203 generation companies but received replies from a little over […]
Read more →The real cost of e-invoicing: Are Philippine businesses ready?
Every year, Wimbledon undergoes a transformation that is almost invisible to casual spectators. The grass is meticulously maintained, and the courts prepared to exacting standards long before the first serve is struck. By the time players step onto Centre Court, the preparations for the tournament are basically invisible. Businesses often experience compliance in much the […]
Read more →Regulator extends suspension of renewable energy charges
THE Energy Regulatory Commission (ERC) extended the suspension of green energy auction allowance (GEA-All) collections for two more months, which could be reflected in lower power bills. In a statement on Monday, the ERC said it approved an extended freeze on the GEA-All collection for the July and August billing months “to help ease electricity […]
Read more →PHL ‘needs to be ready’ for investors demanding RE to power their projects
THE Department of Finance (DoF) said the Philippines needs to be prepared to accommodate investors that prefer that their projects run on renewable energy (RE). In a statement, Finance Secretary Frederick D. Go said: “Global companies are actively seeking renewable energy to power their operations and meet sustainability commitments to their own customers — and […]
Read more →Unified Grand Central Station cleared by ICC-CC
THE Investment Coordination Committee’s Cabinet Committee (ICC-CC) has approved four public infrastructure projects, including the Common Station of the Light Rail Transit Line 1 (LRT-1) Extension. The approval allows the government to move forward with the Unified Grand Central Station in North Avenue, Quezon City, which will serve as an integrated transport hub linking LRT-1, […]
Read more →Senate measures set to revive cooperative, extension bureaus
TWO agriculture bureaus that had been abolished to farm out their functions to local governments are poised to be revived, Sen. Francis Pancratius N. Pangilinan said. Mr. Pangilinan said on Monday that two bills were approved by the Senate on second reading which would re-establish the Bureau of Agriculture and Fisheries Cooperatives and the Bureau […]
Read more →Japan grants to support NFA grain quality testing system
THE National Food Authority (NFA) said Japan will provide grants to support a P184.2-million grain quality testing system. The P124.4-million grant will be provided via the Japan International Cooperation Agency, with the Philippines kicking in P59.8 million in counterpart funding. The three-year program set to run between 2026 and 2028 will upgrade laboratory facilities at […]
Read more →Gasoline could rise P1.90 per liter, DoE says
GASOLINE PRICES could rise by as much as P1.90 per liter, though a small rollback is also possible, according to the Department of Energy (DoE). At a briefing on Monday, Energy Secretary Sharon S. Garin gave a broad range for possible gasoline price movements, from a retreat of P0.10 per liter to an increase of […]
Read more →Surge in AI job postings points to need for ‘human-led’ control of technology — Accenture
ACCENTURE Philippines said a strategic shift is needed that places human leadership at the forefront of the artificial intelligence (AI) transformation, in the wake of a sixfold increase in job postings for AI-related skills. “What the Philippines must do now is move from humans ‘in the loop’ to humans ‘in the lead,’ where the country […]
Read more →BoI to support Mindanao investment promotion
THE Board of Investments (BoI) said it signed a partnership with the Mindanao Development Authority (MinDA) to accelerate investment promotion efforts for the island. In a social media post on Monday, the BoI said the memorandum of agreement (MoA) seeks to enhance investor facilitation, and build a more investment-ready environment in Mindanao. Under the MoA, […]
Read more →Energy Reform: A tax perspective on rising power costs
Rising electricity costs have once again become a pressing issue for households and businesses. Global market volatility, geopolitical tensions, and foreign exchange movements continue to push up the cost of fuel imports — particularly coal and liquefied natural gas — on which the country remains heavily dependent. While these developments are often framed in economic […]
Read more →End of Metro Manila ecozone freeze up for Palace approval
THE DEPARTMENT of Trade and Industry (DTI) said it will recommend to Malacañang the lifting of the moratorium on registering Metro Manila economic zones (ecozone) with the Philippine Economic Zone Authority (PEZA).
Read more →WTO flags high Philippine trade costs
THE PHILIPPINES must focus on addressing regulatory uncertainty and infrastructure gaps to lower trade costs and attract more investors, the World Trade Organization (WTO) said. In its sixth Trade Policy Review of the Philippines conducted in Geneva last week, the WTO said high trade costs remain a key hurdle for the Philippines. According to the […]
Read more →‘Commensurate’ sanctions needed for power plant outages
THE Energy Regulatory Commission (ERC) is seeking to revise the rules governing power plant outages to make any penalties better match the magnitude of the violation, after the Visayas grid continued with its yellow alerts. “We’re making it more commensurate to the violation and its impact,” ERC Chairperson and Chief Executive Officer Francis Saturnino C. […]
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