Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
319 articles from BusinessWorld Economy
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 […]
Read more →Agri dep’t shifts production to areas less affected by El Niño
AGRICULTURE SECRETARY Francisco P. Tiu Laurel, Jr. said he ordered revisions to his agencies’ El Niño response plans to emphasize front-loading aid to farmers and shifting production to less-affected areas. The Department of Agriculture (DA) is working on providing immediate assistance to producers and implementing preemptive measures to bring in as much of the harvest […]
Read more →Delays in land-use legislation eroding food security — DEPDev
CONGRESS must pass long-delayed national land use legislation to help address elevated food inflation as agricultural land shrinks and rice production fails to keep pace with population growth, the Department of Economy, Planning, and Development (DEPDev) said.
Read more →Coal transition policy assumes up to 5 GW of new capacity from coal plants
THE Department of Energy (DoE) said it is set to introduce a coal transition policy that will accommodate up to 5 gigawatts (GW) of new capacity from coal-fired power plants not covered by the moratorium currently in force. Energy Undersecretary Rowena Cristina L. Guevara said the new capacity will help fill the gap left by […]
Read more →Why trust is the new competitive advantage
In an era defined by rapid technological change, rising uncertainty, and shifting stakeholder expectations, trust has become one of the most valuable assets an organization can possess.
Read more →Gov’t to settle CARS obligations before focusing on EV incentives program
THE GOVERNMENT is committed to settling its arrears from the Comprehensive Automotive Resurgence Strategy (CARS) Program before shifting its focus on programs that incentivize electric vehicle (EV) manufacturing, the Department of Trade and Industry (DTI) said. Speaking to reporters on Wednesday, Trade Secretary Maria Cristina A. Roque said it is looking to settle its P5.16-billion […]
Read more →Coal-blending facility seen allowing more use of domestic resources
THE Department of Energy (DoE) said it is proposing the establishment of the country’s first coal-blending terminal, adding that such a facility will permit greater use of domestic coal. “I hope this will interest some also coal terminal in the Philippines because our dependence on Indonesian coal as our fuel is due to the fact […]
Read more →MAP warns corrupt budget will erode investor confidence
THE Management Association of the Philippines (MAP) urged the government to be more transparent in the course of passing the 2027 budget, warning that credibility with investors is at stake if public spending is tainted by corruption. “The MAP believes that there must be zero tolerance for hidden insertions, questionable appropriations, favored contractors, ghost or […]
Read more →Offshore wind developers face possible rationing of port access
THE Department of Energy (DoE) said it is considering allocating port access by offshore wind developers. The DoE made the announcement after postponing the fifth round of the green energy auction (GEA-5), which is dedicated to offshore wind, to recalibrate the framework and ensure it proceeds under more favorable conditions. In a draft department circular, […]
Read more →LPG procured during crisis nearly sold out at P60/kilo
THE GOVERNMENT is about to complete the disposal of liquefied petroleum gas (LPG) procured during the energy crisis, but plans to maintain its reserve of diesel, the Department of Energy (DoE) said. Energy Secretary Sharon S. Garin said state-run Philippine National Oil Co. (PNOC) is nearly done disposing of its LPG stocks, which it is […]
Read more →PEZA investment approvals surge 334% in Aug.
THE Philippine Economic Zone Authority (PEZA) said investment approvals surged 334.13% year on year to P64.57 billion in August. In a statement on Tuesday, PEZA said the investment approvals were generated by 22 new and expansion projects. By the end of August, the PEZA Board had approved P216.47 billion worth of investments across 196 new […]
Read more →Port cargo volume rises 4.39% in Q2
THE Philippine Ports Authority (PPA) said cargo volume rose 4.39% year on year in the second quarter, driven by an increase in foreign shipments during the period. Citing preliminary data, the port regulator said cargo throughput for the three months to June hit 86.88 million metric tons (MMT), against 83.23 MMT a year earlier. The […]
Read more →PAGCOR developing app to curb access to unregistered platforms
THE Philippine Amusement and Gaming Corp. (PAGCOR) said it is developing an application that will steer online gamblers to licensed and regulated platforms. Around 50% of online gaming sites accessed in the Philippines are illegal, making it difficult for PAGCOR and law enforcement agencies to attract players toward the regulated sector, PAGCOR Chairman and Chief […]
Read more →DA proposes revival of half-cup rice servings
THE Department of Agriculture (DA) is seeking to revive the Half-Cup Rice Ordinance for restaurants, citing the need to minimize rice wastage. The DA is running a “Be RICEponsible” campaign led by the Philippine Rice Research Institute (PhilRice), whose aims include steering consumers to waste less rice and choose healthier rice. The DA is also […]
Read more →Mondelez bats for review of sugary drinks tax
MONDELEZ PHILIPPINES, Inc. said the government needs to reconsider its proposed tax hike on sugary drinks, noting that any increase in the current level of taxation would strain the industry. “As a company, we urge the government to consider the implications of the SSB (sugar-sweetened beverages) tax not just for the manufacturers, but for the […]
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