Philippines Business News

Supertanker spotted at Saudi’s main oil terminal for the first time in a month

[In This Economy] The Philippine economy is stuck in a rut

It’s a classic case of bad governance leading to bad economics

Reaction roundup: Experts, analysts weigh in on in-line July CPI report

Luxury condo resilience: Half of Ayala’s Laurean buyers staying despite pause

Despite construction grinding to a halt amid higher costs and uncertainty from the Middle East war, half of Laurean Residences’ deep-pocketed buyers are choosing to stay rather than take a refund or move to another Ayala project

Liberty Flour Mills files cyber libel complaint vs former execs as family feud deepens

LFM's current leadership, headed by chairman and president John Carlos Uy, is firing back at former executives Sandra Uy — John's niece — and Stella Uy over what the company calls an 'orchestrated scheme' to discredit it

Here’s how Truflation’s Head of Data sees inflation evolving in the months ahead

U.S. CPI looms large; CoreWeave’s AI-driven revenue surge - what’s moving markets

A new Mitsubishi hybrid is coming. But don’t expect a pure EV anytime soon.

Expensive, plug-in hyrbid, and a global flagship model. Any guesses?

Trump considers capital gains tax cuts ahead of midterm election- Bloomberg

Bond yields move sideways as market sees less hawkish BSP

THE GOVERNMENT made a full award of the Treasury bonds (T-bonds) it offered on Tuesday as rates were aligned with secondary market levels, with the market expecting a less hawkish stance from the Bangko Sentral ng Pilipinas (BSP) amid slowing economic growth. The Bureau of the Treasury (BTr) borrowed P30 billion as planned from the […]

BSP plans to set up new facilities to enable off-hours settlements

THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to update its existing rules on payment settlement facilities to streamline large-value payments as it plans to extend the Peso Real-Time Gross Settlement (RTGS) Payment System’s (PS) operating hours. In a draft memorandum, the central bank proposed amendments to the rules on the Peso RTGS Payment System, […]

Peso sinks back to P61 range on US-Iran impasse

THE PESO slid back to the P61-per-dollar level on Tuesday as hopes for a peace deal between the United States and Iran faded due to new demands from both parties. The currency fell by 55.5 centavos to close at P61.26 versus the greenback from P60.705 on Monday, based on data from the Bankers Association of […]

SSS targets over P250 billion in benefit payments

THE SOCIAL Security System (SSS) expects to pay out over P250 billion in benefits this year as it looks to improve social protection. “Our main concern is increasing benefits,” SSS President and Chief Executive Officer Robert Joseph M. De Claro said at a press conference on Tuesday. He said they want to improve their net […]

PBB Q2 income at P412.8M

PHILIPPINE BUSINESS Bank, Inc., A Savings Bank (PBB) reported a net income of P412.8 million for the second quarter, it said on Tuesday. Its financial statement was unavailable as of press time. Quarter on quarter, net income surged by 86.3%, PBB said in a disclosure to the stock exchange. Pre-tax and pre-provision profit, which includes […]

BPI AIA appoints new CEO

BPI AIA LIFE Assurance Corp. has appointed Melissa Henson as its new chief executive officer (CEO), it announced on Tuesday. Ms. Henson previously served as the chief marketing officer (CMO) of AIA Philippines Life and General Insurance Co., a role that she assumed in 2023. BPI AIA is the bancassurance partnership between AIA Philippines and […]

Proposal to remove system-loss VAT charge reaches ERC level

THE Energy Regulatory Commission (ERC) is proposing to scrap the 12% value-added tax (VAT) from electricity losses charged to consumers to reduce their costs, which is expected to result in P6 billion savings.

LGUs allowed to tap development funds for oil storage, renewable energy facilities

LOCAL GOVERNMENT UNITS (LGUs) have been cleared to tap their development funds to build oil storage facilities and renewable energy infrastructure as the government seeks to mitigate the impact of global fuel supply disruptions. In Joint Memorandum Circular (JMC) No. 1 dated Aug. 4, the Department of Budget and Management, Department of Finance and Department […]

DTI, ADVANCE.CBP to establish MSME credit information registry

THE Department of Trade and Industry (DTI) and ADVANCE.CBP (Advintel, Inc.) signed a memorandum of understanding last week to establish a credit information registry for micro, small and medium enterprises (MSMEs). SME Trust will carry MSMEs’ verified business profiles, which lenders and other firms may use for assessment prior to approving loans or entering business […]

Bidding launched for P1.24-billion Tacloban, Busuanga airport deals

THE Department of Transportation (DoTr) said it opened the bidding for the P1.24 billion worth of contracts for the development and rehabilitation of Tacloban and Busuanga airports. In separate bid notices issued on Tuesday, the DoTr said P695.25 million was allotted for the civil works and rehabilitation contract for Tacloban Airport. The project covers airside […]

NGO urges BFAR to stand firm on vessel monitoring after SC ruling

OCEANA PHILIPPINES urged the Bureau of Fisheries and Aquatic Resources (BFAR) to defend the vessel monitoring measures (VMM) components of fisheries law struck down by the Supreme Court (SC), which has been asked to reconsider.

DTI, Converge open new hub to help startups integrate AI

THE Department of Trade and Industry (DTI) said it is leveraging specialized training and pitching opportunities to help startups integrate artificial intelligence (AI) and digital tools directly into their operations. On Tuesday, the DTI and Converge ICT Solutions, Inc., launched the DTI AI and Scale-Up Center, which seeks to provide visitors and participating enterprises access […]

Japanese chamber, ARTA sign partnership to reduce red tape

THE Japanese Chamber of Commerce and Industry of the Philippines, Inc. (JCCIPI) has partnered with the Anti-Red Tape Authority (ARTA) to help Japanese firms’ issues on ease of doing business. In a statement, ARTA said the two parties signed a memorandum of understanding (MoU) on Aug. 5, which designates the JCCIPI and its nationwide members […]

Infrastructure capital outlays to decline this year

NATIONAL GOVERNMENT infrastructure and other capital outlays are projected to decline 15.1% to P931.54 billion this year before recovering slightly in 2027, although they will remain below the P1-trillion level. According to the 2027 Budget of Expenditures and Sources of Financing, this year’s infrastructure and other capital outlays are expected to decline from P1.1 trillion […]

Meralco may absorb system loss, but ERC says its rates may need adjusting

'We’re looking at the impact of removal of system loss, whether total or phased in, whether just the nontechnical, whether there’s a lowering of the cap,' says ERC chair Francis Juan