Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
2342 articles from BusinessWorld
BCDA assures Pax Silica framework will comply with Philippine law
THE Bases Conversion and Development Authority (BCDA) is set to sign a master agreement with a US partner agency to establish a proposed artificial intelligence (AI)-native hub under the Pax Silica partnership, a trade official said. Trade Undersecretary Ceferino S. Rodolfo told reporters last week that the agreement will ensure that locators expanding here under […]
Read more →No VAT left behind: VAT refund transition relief for export-oriented enterprises
Tax incentives may be clear in principle, but putting them into practice can raise unexpected but practical questions. This became evident after Republic Act No. 12066, or the CREATE MORE Act, took effect. Among its provisions are VAT zero-rating on qualified local purchases and VAT exemption on qualified importations of export-oriented enterprises (EOEs), subject to […]
Read more →Bangsamoro parliamentary elections marred by ballot irregularities, violence
THE first regular parliamentary elections in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) were marred by election-related violence, pre-shaded ballots and other disruptions on Monday, prompting the Commission on Elections (Comelec) to take control of Cotabato City and Maluso, Basilan.
Read more →Court orders transfer of Romualdez to QC jail
THE Sandiganbayan on Monday ordered former Speaker and incumbent Leyte Rep. Ferdinand Martin G. Romualdez transferred to the New Quezon City Jail Male Dormitory in Payatas after doctors at Philippine General Hospital (PGH) found him clinically stable and no longer in need of hospital confinement. The anti-graft court’s Third Division issued the order after PGH […]
Read more →P60 NCR wage hike leaves P85 dispute unresolved
THE P60 wage increase in the National Capital Region (NCR) will provide immediate relief to workers but does not settle their claims under an earlier P85 increase, as questions remain over the legal status of the previous wage order, analysts said.
Read more →DoH backs higher tax on sweet drinks
THE Department of Health (DoH) on Monday backed higher sweetened beverage taxes to curb consumption as rising obesity and other diet-related health risks increase pressure for stronger public health measures. At a joint hearing of the House of Representatives Committees on Ways and Means and Health, Health Assistant Secretary Lester M. Tan said the sweetened […]
Read more →Retired Sandiganbayan justice says ill-gotten wealth not limited to state funds
A RETIRED presiding justice of the Sandiganbayan said that an official’s ill-gotten wealth is not limited to public funds and may include private funds as long as it meets the P50-million threshold acquired through illegal means. “If you look at the plunder law, there are five overt criminal acts that if committed through a series […]
Read more →India keen on funding key PHL rail projects
THE Department of Transportation said India is keen on helping fund the Philippines’ key railway projects, particularly the long-delayed Mindanao Railway project. “They are also interested in our railway projects like NSCR (North-South Commuter Railway), subway, and Mindanao railway. They are very interested in Mindanao railway, not only through consultancy but also in helping fund […]
Read more →PAGASA monitors LPA amid fair weather over the country
A low-pressure area is being monitored outside the Philippine Area of Responsibility (PAR) as fair weather is expected throughout the country, according to the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (PAGASA) on Monday. The LPA was last located 3,185 kilometers East of Eastern Visayas and has a high chance of developing into a tropical […]
Read more →Forging a resilient Philippine economy in the age of shocks
THE PHILIPPINES, over the past year, faced shock after shock that has tested its strength. From a flood control corruption scandal that shackled state spending, to geopolitical issues overseas that caused a global energy shock that continues to feed into domestic prices, these put in focus the structural vulnerabilities that continue to plague the economy.
Read more →Beyond UMIC: The struggle to make the Philippines more attractive to foreign investors
THE PHILIPPINES is pinning its hopes on its new upper middle-income status and solid fundamentals to position itself as a major investment and supply chain hub in Southeast Asia.
Read more →BSP hints it may start easing in 2027
THE BANGKO SENTRAL ng Pilipinas (BSP) kept further rate hikes on the table amid lingering price pressures, but hinted it could begin easing next year if inflation falls faster than expected.
Read more →Philippines’ current account gap likely to widen on oil pressures
THE PHILIPPINES is likely to post a wide current account deficit this year as elevated oil prices amid the Middle East war inflate the country’s import bill, although a weaker peso could provide some relief, analysts said. Miguel Chanco, chief Emerging Asia economist at United Kingdom-based think tank Pantheon Macroeconomics, said the country’s current account […]
Read more →Philippine trade policy review
By the WTO Secretariat INTERNATIONAL TRADE plays a key role in the Philippines’ economic development and poverty reduction. During the review period (2018-2025), trade in goods and services generally represented more than 60% of gross domestic product (GDP). Overall, the average wage for workers in export-oriented sectors in 2024 exceeded the national average by at […]
Read more →PEZA on track to beat P300-billion target
THE PHILIPPINE Economic Zone Authority (PEZA) is confident of exceeding its P300-billion investment approvals target this year amid growing interest from Japanese and Chinese investors, its top official said. PEZA Director-General Tereso O. Panga said its investment approvals as of end-August are nearly three-fourths of its full-year target. “That will allow us to breach the […]
Read more →PHL must strengthen supply chains to benefit from ASEAN digital deal
THE Philippines needs to boost its domestic industries and supply chains if it wants to turn a regional digital trade agreement into more investment and higher-value exports, analysts said.
Read more →Philippine banks’ property exposure may remain muted
BANKS are likely to keep their exposure to the Philippine real estate sector subdued for the rest of the year as tighter economic conditions dampen developer sentiment and property demand, analysts said.
Read more →How the Philippines can secure reliable financing to build resilience against external shocks
THE PHILIPPINES has recently attained upper-middle income status, but it remains vulnerable to geopolitical risks and disasters. To become resilient and enhance its competitiveness, the question is not whether the Philippines needs more infrastructure, stronger energy systems, and defenses against severe weather conditions. It is how to pay for them in a world increasingly exposed […]
Read more →BusinessWorld explores building crisis-ready Philippines in Part 1 of 39th Anniversary Report
AS IT MARKS its 39th anniversary this year, BusinessWorld examines what it will take to build a crisis-ready Philippine economy. Part 1 of its two-part Anniversary Report looks at how the Philippines can move beyond absorbing shocks and boost its capacity to recover, adapt and remain competitive. The stories bring together perspectives from across the […]
Read more →Global shocks fuel push for Philippine energy security
THE PHILIPPINES’ heavy reliance on imported fuel has renewed calls for greater energy security as geopolitical conflicts and disruptions in global shipping expose the economy to sharp swings in fuel prices and inflation.
Read more →PHL aviation balances expansion, costs amid fuel volatility
AVIATION COMPANIES are balancing expansion plans with tighter cost management as volatile jet fuel prices and geopolitical disruptions put pressure on airline margins, fares, and network decisions even as passenger traffic continues to grow.
Read more →Rethinking the energy system: Why energy security is an economic imperative
HIGH ELECTRICITY PRICES are more than a burden on Filipino households; they also raise the cost of doing business, weaken industrial competitiveness, discourage investment, and ultimately slow economic growth. Despite years of expanding generation capacity, the Philippines continues to grapple with expensive electricity, recurring grid alerts, and supply disruptions. These are not isolated challenges — they reflect longstanding challenges in the country’s power system.
Read more →Future-proofing the travel and hospitality industry
THE Philippines has been sandwiched in between two international crises in less than a decade. While the COVID-19 pandemic in 2020 kept the country in varying states of quarantine for over two years and is still a vivid memory, the US-Middle East conflict since February this year has affected oil routes and has raised energy prices, driving the costs of nearly everything up.
Read more →