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
Zamboanga electric co-op system loss falls to 13%
THE National Electrification Administration (NEA) said electric cooperatives (ECs) are moving to reduce system losses following a round of investments, citing improvements in Zamboanga City Electric Cooperative, Inc. (ZAMCELCO). NEA Administrator Antonio Mariano C. Almeda said some ECs posted significant reduction in their system loss levels, including ZAMCELCO. The electric cooperative reported that its system […]
Read more →New tax-exempt threshold: Tax relief or inflation adjustment?
During his fifth State of the Nation Address (SONA) on July 27, 2026, President Ferdinand Marcos, Jr. proposed increasing the annual personal income tax exemption threshold from P250,000 to P350,000. The proposal was touted as a form of tax relief intended to help workers cope with rising living costs and allow them to retain a […]
Read more →PHL fuel stockpiling plan attracts potential Middle Eastern partners
POTENTIAL PARTNERS from the Middle East have expressed interest in participating in the Philippine plan to build a strategic fuel reserve, the Department of Energy (DoE) said. Energy Secretary Sharon S. Garin said: “When we met with Japan for regional stockpiling, some Middle Eastern countries were there and they were interested in joining the project […]
Read more →Gov’t counting on GOCC subsidies to fall 27.6% to P191.8 billion in 2027
BUDGETARY SUPPORT for government-owned and -controlled corporations (GOCC) is expected to decline 27.6% to P191.8 billion in 2027, according to the Department of Budget and Management. According to the 2027 Budget of Expenditures and Sources of Financing (BESF) funding for government corporations and entities is projected to fall by about P73.1 billion from P264.9 billion […]
Read more →BIR eases early-withdrawal PERA rules
THE Bureau of Internal Revenue (BIR) said it eased the rules on premature withdrawals from Personal Equity and Retirement Accounts (PERA), limiting the 20% penalty to income attributable to the portion actually withdrawn. In Revenue Memorandum Circular (RMC) No. 91-2026, the BIR clarified that only the gross income earned attributable to PERA assets that are […]
Read more →Strong PHL demand for US dairy seen continuing
THE US Dairy Export Council (USDEC) said on Thursday that it expects strong Philippine demand for US dairy products to continue. Speaking on the sidelines of a trade seminar organized by the USDEC in Makati, Dali Ghazalay, USDEC regional director for Southeast Asia, told reporters that the US exported nearly 143,000 metric tons of dairy […]
Read more →France provides 200-M euro blue-economy package
THE PHILIPPINES has obtained 200 million euros in financing from the French Development Agency (AFD) for the Marine Ecosystems for Blue Economy Development Program, Subprogram 1, the Department of Finance (DoF) said. In a statement on Thursday, the DoF said the financing will help protect marine ecosystems and resources while expanding opportunities in the blue […]
Read more →Graduates’ skills still misaligned with employer needs, economist says
EMPLOYERS continue to encounter mismatches between their requirements and the qualifications and skills of job applicants, an economist said. “There is a persistent skills mismatch where fresh graduates’ qualifications do not align well with what employers are hiring for,” Jose Ramon G. Albert, senior research fellow at the Philippine Institute for Development Studies, said. The […]
Read more →BCDA expects Double 11 estate in New Clark City completed by 2027
THE Bases Conversion and Development Authority (BCDA) said Filipino-owned developer Double 11 Properties Corp. expects to complete its mixed-use estate in New Clark City by 2027. Last month, ground was broken on the first phase of construction of D11 Super Station, a two-hectare mixed-use development in the Tarlac economic zone, the BCDA said in a […]
Read more →Six potential bidders for NCR could join waste-to-energy auction in October
THE Waste-to-Energy (WTE) Green Energy Auction (GEA) has attracted six potential bidders for Metro Manila, the Department of Energy (DoE)said, providing possible relief from the capital’s solid waste disposal problems. Energy Secretary Sharon S. Garin told reporters: “I think for Metro Manila alone, there are six (potential contractors) that are trying to be part of […]
Read more →Luzon Economic Corridor investment forum scheduled for September in Manila
THE PHILIPPINES, US and Japan will stage the inaugural Luzon Economic Corridor (LEC) Investment Forum between Sept. 10 and 11 in Manila, the US Trade and Development Agency (USTDA) said. In a statement on Thursday, the USTDA said the forum is expected to gather 600 international investors, industry leaders, project developers, and government officials to […]
Read more →FINEX urges gov’t to improve efficiency of public spending
THE Financial Executives Institute of the Philippines (FINEX) said government officials need to engage in well-targeted public spending to help stimulate the economy, noting that the misuse of public funds could weaken the economic recovery over the long term. “FINEX recognizes the important role of government spending in supporting economic activity, creating jobs, and encouraging […]
Read more →Counterpart funding up nearly 320% as foreign projects surge
THE National Government is proposing P145.37-billion budget for counterpart funding for foreign-assisted projects in 2027, driven by substantially higher allocations for major railway, bridge and transport projects. According to the 2027 Budget of Expenditures and Sources of Financing, government counterpart funding is set to increase by 319.6% from the P34.65 billion allocated for 2026. Overall […]
Read more →National ID proposed as sole acceptable SIM-registration ID
THE National Telecommunications Commission (NTC) said it is proposing to make the National ID the sole acceptable form of identification when registering subscriber identity modules (SIM). In a notice, the NTC proposed an amendment to the Section 7A and relation provisions of NTC Memorandum Circular No. 001-12-2022 which prescribes the rules and guidelines for the […]
Read more →Semirara coal block auction likely delayed by two more months — DoE
THE AUCTION of coal blocks on Semirara Island will likely be delayed by a further two months, the Department of Energy (DoE) said. “We are hoping to do the bidding properly this year. It will be moved because the original scheduled was around September and pushed by at least two more months,” Energy Secretary Sharon […]
Read more →Traders warn DA of rising consumer prices if safeguard tariff proposal goes through
THE Meat Importers and Traders Association (MITA) said on Wednesday that the Department of Agriculture’s (DA) request to impose additional tariffs on imports of meat will raise retail prices. MITA President Emeritus Jesus C. Cham said the DA’s proposal to enforce volume-based special safeguard (SSG) measures on meat imports will affect their landed cost and […]
Read more →PHL sends first cacao shipment to New Zealand
THE Department of Agriculture (DA) said an initial shipment of fermented Philippine cacao beans has been dispatched to New Zealand. The DA sent off the 6,000-kilogram shipment at the container yard of the Hong Equipment and Development Corp. in Carmen, Davao del Norte. It is expected to arrive at the Port of Lyttleton in New […]
Read more →PCA seeking changes to coconut levy law
THE Philippine Coconut Authority (PCA) said it wants to overhaul how coconut levy-funded programs are implemented to minimize delays and overlapping responsibilities. At a hearing of the House of Representatives Committee on Agriculture and Food, PCA Administrator Dexter R. Buted said proposed amendments to Republic Act 11524 were arrived at after five years of implementing […]
Read more →LNG supply network studied for ecozones in Calabarzon
THE Philippine Economic Zone Authority (PEZA) said it signed a memorandum of understanding (MoU) with energy firms South Premiere Power Corp. (SPPC) and Linseed Field Corp. (LFC) to explore the feasibility of distributing liquefied natural gas (LNG) in Calabarzon-based economic zones (ecozones). The agreement seeks to establish a framework to study the feasibility of an […]
Read more →Youth employment recovery seen stalling as outlook clouded by AI
THE LABOR MARKET for younger workers remains challenging in the Philippines due to the dearth of quality jobs, compounded by the rise of artificial intelligence (AI), an analyst said, following a new report from the International Labour Organization (ILO). “The ILO’s report on youth employment is very alarming as it reveals that the labor market […]
Read more →DoTr seeks over P247B for infra in 2027
THE Department of Transportation (DoTr) is seeking 2027 infrastructure funding of P247.54 billion, up from this year’s P86.49 billion, according to budget documents. According to the Budget of Expenditures and Sources of Financing report for 2027 issued by the Department of Budget and Management, the DoTr’s proposed infrastructure spending for 2027 will be led by […]
Read more →Tower company iSON looking into digital healthcare, BPO expansions
GLOBAL TECHNOLOGY and infrastructure firm iSON is looking to expand its footprint in the Philippines in digital healthcare and business process outsourcing (BPO), the Department of Finance (DoF) said. In a statement on Wednesday, the DoF said it met with iSON executives about its plans to build on its $300-million expansion in the Philippines for […]
Read more →PHL, New Zealand targeting 50% boost in trade by 2030
THE PHILIPPINES and New Zealand are exploring opportunities in agriculture and increased market access with a goal of increase bilateral trade by 50% by 2030, the Department of Trade and Industry (DTI) said. In a social media post on Wednesday, the DTI’s Bureau of International Trade Relations (BITR) said the Joint Economic Commission (JEC) between […]
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