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319 articles from BusinessWorld Economy
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BusinessWorld Economy
PHL needs broader spectrum of poverty measurements, analysts say
THE PHILIPPINES needs to supplement its official poverty data with indicators that track economic vulnerability, living standards and households’ ability to withstand financial shocks, analysts said.
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DEPDev hopes to complete AI framework in Sept.
THE Department of Economy, Planning, and Development (DEPDev) said it is targeting the completion of an artificial intelligence (AI) governance framework by September. Economy Undersecretary Rosemarie G. Edillon said the framework is expected to establish safeguards for AI adoption while supporting innovation and improving productivity. “We are actually finalizing an AI governance framework. We hope […]
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PHL pressed to take lead on ASEAN climate security
THE PHILIPPINES needs to take the lead on climate security within the Association of Southeast Asian Nations (ASEAN), making climate resilience part of the region’s security agenda, officials said. Speaking at a climate security forum co-organized by think tank Stratbase Institute and the German Embassy, Environment Secretary Juan Miguel T. Cuna called for climate resilience […]
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A Tax Odyssey: The journey toward QDMTT
In Homer’s The Odyssey, Odysseus sailed through unfamiliar seas for 20 years in his quest to return home to Ithaca. Along the way, he encountered a cyclops, sirens, storms, witches, and countless detours that threatened to pull him away from his destination. But despite these hurdles, his objective remained unchanged: finding his way back home. […]
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More Gen Zs, millennials invest in gold amid economic uncertainties
The Palawan Group of Companies said it has seen an increase among younger generations, specifically Generation Zs and millennials, investing in gold amid global economic uncertainties and shifts. “Millennials are actively investing in gold; that was a big surprise. Now, slowly, we can see some of the Gen Zs also,” Palawan Group of Companies President […]
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JFC forum participants call for clarity on cross-border services tax rules
BUSINESSES need enhanced clarity and consistency regarding Philippine tax rules governing cross-border services, according to participants at a roundtable organized by the Joint Foreign Chambers (JFC). “For the Joint Foreign Chambers of the Philippines, tax certainty is an important component of the investment environment, affecting how companies plan operations, structure transactions, and make investment decisions,” […]
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PHL signs air service agreement with Iceland
THE PHILIPPINES has signed its first ever air service agreement with Iceland, paving the way for daily flights between Manila and Reykjavík, the Department of Transportation (DoTr) said. “This agreement will serve as the foundation for our future air transportation relationship and will provide our airlines with a framework to explore new opportunities for connectivity […]
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Sugar producers see artificial-sweetener rules boosting orders from food industry
THE United Sugar Producers Federation of the Philippines (UNIFED) said on Thursday that the Sugar Regulatory Administration’s (SRA) regulation of artificial-sweetener imports will force food manufacturers to buy domestic sugar. UNIFED President Manuel R. Lamata said that the SRA’s order is “the best thing that has happened to the sugar industry,” adding that the impact […]
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MAP upbeat over PHL recovery next year
THE Management Association of the Philippines (MAP) said it is hoping that the Middle East crisis resolves itself by next year, adding that it expects the spending boost from the runup to the 2028 elections to buoy the economy. “We’re hopeful for 2027,” MAP President Donald Patrick L. Lim told reporters on the sidelines of […]
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PHL, UK exploring IC design, semiconductor tie-ups
THE PHILIPPINES and the UK are looking at opportunities to further expand trade and investment, with a focus on high-value industries including semiconductors and integrated circuit (IC) design, the Department of Trade and Industry (DTI) said. At a meeting with UK Trade Commissioner for Asia Pacific Martin Kent on Aug. 11, both sides looked into […]
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BCDA promises to obtain favorable Pax Silica terms
THE Bases Conversion and Development Authority (BCDA) said negotiations between the Philippines and US on the governing framework for the upcoming Pax Silica hub are ongoing, and committed to secure favorable terms for the Philippines. Speaking at the Kapihan sa Manila Bay forum on Wednesday, BCDA President and Chief Executive Officer Joshua M. Bingcang said […]
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Welcoming RMC No. 72-2026
Companies often provide their officers and key personnel access to exclusive club facilities as part of their benefits package. Since proprietary club shares are normally required to be registered in the name of a natural person, corporations usually register these shares under the name of their officers who serve as nominees or trustees. Under this […]
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Customs personnel handling seized goods to be issued body cameras
THE Bureau of Customs (BoC) plans to procure body cameras to better secure seized goods, following reports of attempted theft involving confiscated illicit cigarettes. In a statement on Tuesday, the BoC said it is implementing measures to improve the monitoring, protection and timely disposition of seized, forfeited and abandoned goods. “Among the measures is the […]
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Galunggong, rice prices up; pork down in early Aug.
THE Philippine Statistics Authority (PSA) said prices of several key food commodities such as regular-milled rice, galunggong (round scad), and carabao mango rose month on month during the Aug. 1 to 5 period, which the PSA calls the first phase of August, with pork prices continuing to fall. The price of galunggong rose 1.3% month on month to P241.67 […]
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LANDBANK’s P155-B financing package to help onboard PSALM to Link.BizPortal
LAND BANK of the Philippines (LANDBANK) said it approved a P155.0-billion Bilateral Term Loan Facility to onboard the Power Sector Assets and Liabilities Management Corp. (PSALM) to its Link.BizPortal digital payment platform. “At LANDBANK, we believe modernization must deliver real results for the public. Through this agreement, we are strengthening the financial and digital foundations […]
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P210.93-million farm aid allocated to areas hit by storms, monsoon rains
THE Department of Agriculture (DA) said it will provide P210.93 million worth of farm inputs to assist farmers affected by Tropical Cyclones Luis and Maymay, as well as the enhanced southwest monsoon (habagat). In a bulletin released on Monday, the DA’s Disaster Risk Reduction and Management Operations Center said that among the farm inputs set […]
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Australian healthcare group studying Philippine BPO operation
THE Philippine Economic Zone Authority (PEZA) said Australian healthcare provider Kairos Care and Kairos Medical Group are considering establishing outsourcing operations in the Philippines. “The delegation expressed solid interest in establishing export-oriented administrative and back-office operations serving its Australian and other global markets,” PEZA said in a social media post on Tuesday. The company is […]
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Public consultation announced for draft order requiring certification of aluminum products
THE Department of Trade and Industry (DTI) said it is soliciting comment on a draft order that would require some aluminum products to undergo a certification process. “The draft DAO (department administrative order) covers the mandatory product certification of wrought aluminum and aluminum alloy products, with applicable requirements based on relevant Philippine National Standards,” it […]
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Global economic zone association could set up regional headquarters in PHL
THE Bases Conversion and Development Authority (BCDA) said the World Free Zones Organization (WFZO) is considering setting up a regional office in the Philippines. In a recent meeting, WFZO executives discussed opportunities to promote the BCDA’s economic districts as global investment destinations, the BCDA said in a social media post on Monday. The WFZO discussed […]
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Diesel prices set to rise by nearly P4 per liter
DIESEL PRICES are set to rise by about P3.84 per liter due to continued uncertainty about the on-again, off-again fighting in the Persian Gulf, according to the Department of Energy (DoE), which sets guide prices under its emergency powers. In an advisory on Monday, the DoE said gasoline prices are set to increase by P2.49 […]
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Gov’t releasing funds faster for ‘appropriate’ projects — Palace
THE GOVERNMENT is releasing infrastructure funds more rapidly for “appropriate” projects as it seeks to balance the need to support growth while deterring corruption, Malacañang said on Monday. Palace Press Officer Clarissa A. Castro said the Department of Budget and Management (DBM) is leading efforts to meet the two objectives to make up for delayed […]
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Ways and Means panel chairman seeks 2-year property valuation reform freeze
A SENIOR legislator proposed a two-year suspension of key provisions of the Real Property Valuation and Assessment Reform Act (RPVARA), citing the need to shield taxpayers from rising taxes, fees and other government charges. In a statement, House Ways and Means Committee Chairman and Marikina Rep. Romero “Miro” S. Quimbo said that House Bill No. […]
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BYD Auto accelerating Philippine growth plans
BYD AUTO Co., Ltd. said it is accelerating its growth timeline in the Philippines, driven by strong demand for energy-efficient mobility. “The Philippines has become one of the most exciting and promising markets for new-energy vehicles in the region,” BYD Auto Co., Ltd. Chairman and President Wang Chuanfu said in a statement on Monday. “We are […]
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