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
Geothermal developers push for pricing overhaul ahead of GEA-9
GEOTHERMAL DEVELOPERS are calling for a revamp of the pricing mechanism for the government’s upcoming green energy auction (GEA) to better reflect the “true cost” of geothermal power and attract more bidders. Jaime Jemuel Austria, Jr., president of the National Geothermal Association of the Philippines, Inc., said the group will submit its geothermal pricing recommendations […]
Read more →DA rejects claims of imports weakening pork farmgate price
AGRICULTURE SECRETARY Francisco P. Tiu Laurel, Jr. said pork imports did not cause a decline in farmgate prices, but blamed a rush to sell hogs due to fears of another outbreak of African Swine Fever (ASF). In a statement, Mr. Laurel said hog raisers increased their herds last year in response to high prices, but […]
Read more →PHL seen on track for data center capacity target
THE PHILIPPINES is on track to hit 1.5 gigawatts (GW) of data center capacity by 2028, with a favorable regulatory framework and geographic advantages expected to attract foreign operators, the Data Center Association of the Philippines (DCAP) said. “There is a lot of generation coming not just from players that you know. There’s a lot […]
Read more →Zero banana tariffs top PHL agenda during JPEPA review
THE PHILIPPINES will push for zero tariffs for banana exports to Japan during the review of the Japan-Philippines Economic Partnership Agreement (JPEPA), part of a broader effort to become the world’s top banana exporter, the Department of Trade and Industry said. “Now, our tariff is 8% to 18% depending on the season… In the end, […]
Read more →Hog industry presses for prompt AnCEF rollout
THE National Federation of Hog Raisers said the Department of Agriculture (DA) needs to “fight” for the rollout of the Animal Competitiveness Enhancement Fund (AnCEF), after its release was delayed to 2028. Federation Chairman Alfred Ng said Agriculture Secretary Francisco P. Tiu Laurel, Jr. needs to get a handle on the bureaucratic processes needed to get the […]
Read more →High-value crops, fish prices rise due to storms, monsoon
PRICES of high-value crops and fish increased due to flooding and the resulting damage caused by the recent tropical cyclones and the enhanced southwest monsoon (habagat), the Department of Agriculture (DA) said. Speaking on the sidelines of the Department of Agriculture’s (DA) budget hearing at the House of Representatives last week, Agriculture Secretary Francisco P. […]
Read more →BoC August collections top P81 billion
THE Bureau of Customs (BoC) collected P81.361 billion in August, up 5.1% from a year earlier, slightly short of its target for the month due to weather disturbances and work suspensions. In a statement on Monday, the BoC said August collections rose were P3.925 billion higher that the year-earlier total. “While collections for the month […]
Read more →ASEAN oil reserve study due out by Nov.
THE Department of Trade and Industry (DTI) said a study for a proposed oil reserve among Association of Southeast Asian Nations (ASEAN) members will be released by November. “There are other countries that want to be on board, and the studies done by the ERIA (Economic Research Institute for ASEAN and East Asia) will be […]
Read more →E-Invoicing: What taxpayers need to know before the Dec. 31 deadline
This year, the Bureau of Internal Revenue (BIR) launched its DARES reform agenda, a five-point framework anchored on digital and data transformation, audit reform and accountability, revenue collection and base protection, employee empowerment and welfare promotion, and service excellence and stakeholder engagement. The reform agenda reflects the BIR’s recognition that effective tax administration can no […]
Read more →DA evaluating Chinese technology to modernize PHL farming practices
THE Department of Agriculture (DA) said on Thursday it is studying the use of smart farming technology from China aimed to modernize farming in the Philippines. Agriculture Secretary Francisco P. Tiu Laurel, Jr. visited the Zhejiang Huihong Fruit and Vegetable Farm in China on Aug. 24, inspecting digital systems used to monitor crops and manage […]
Read more →PHL has potential to again become Nissan’s leading market in ASEAN
NISSAN MOTOR Co., Ltd. said the Philippines could retain its top spot in the ASEAN market in vehicle sales, driven by growing interest in electrified models. “In the ASEAN market, the Philippines is number two, but it has the potential to rise to number one,” Nissan ASEAN and Thailand President Masao Tsutsumi said at a […]
Read more →Photonics company Coherent seeking to expand Philippine manufacturing operation
THE Philippine Economic Zone Authority (PEZA) said Coherent II-VI Laser Enterprise Phils., Inc. is looking to expand its Philippine manufacturing operation. PEZA cited Coherent’s plans to “strengthen the Philippines’ role in the global supply chain for photonics, optical communications, advanced materials, and semiconductor-related technologies.” Coherent has invested about P1.7 billion in its Philippine operations as […]
Read more →Business name registrations down 13% in August
BUSINESS NAME registrations in August declined 13.3% year on year to 64,331, the Department of Trade and Industry (DTI) said. According to the DTI’s business name registration system, 57,783 were new registrations, while 6,548 were renewals. Month on month, business name registrations in August declined 20.68% from July. Some 57,193 registrations recorded during the month […]
Read more →Sugar outlook clouded by weather, pest infestation
THE Sugar Regulatory Administration (SRA) said it expects sugar production and exports to drop this year due to floods in the Negros Island Region, dry spells, and the infestation of the red-striped soft scale insect (RSSI). Speaking on the sidelines of the Department of Agriculture’s budget hearing at the House of Representatives, SRA Administrator Pablo […]
Read more →BIR, BoC on pace to hit targets as of August
THE Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) are on track to meet their revenue targets this year, the Department of Finance said. Finance Undersecretary Rolando T. Ligon, Jr. said the agencies remained on track on their revenue goals as of the end of August. “The BoC has an excess of […]
Read more →NDC says access to Manila Golf by Roque ‘facilitates official functions’
THE National Development Co. (NDC) said its Manila Golf and Country Club (MGCC) membership is a state asset used by the Secretary of Trade and Industry to facilitate official functions. The company’s membership “facilitates the performance of official functions and may provide a venue for meetings and engagements with business leaders, investors, and other stakeholders […]
Read more →Public trust and the promise of tax audit reform
During a recent visit to a BIR office, a sign caught my eye: “Public office is a public trust. Public officers and employees must at all times be accountable to the people, serve them with utmost responsibility, integrity, loyalty, and efficiency, act with patriotism and justice, and lead modest lives.” The statement felt deeply familiar. […]
Read more →Instability of PHL electricity grid preventing data centers from achieving scale — Moody’s
ENERGY SECURITY shortcomings are a key bottleneck for its data center industry, which has not scaled to the extent of its regional counterparts, according to Moody’s Ratings. In a report, Moody’s identified the Philippines and Vietnam as “early-stage” data center markets. “Among the markets covered here, (Philippines) also faces the most acute power availability and […]
Read more →Ecozones need right blend of infra, perks to benefit from data center boom -— WTCA
PHILIPPINE economic zones (ecozones) could capture data center expansion investment amid growing global demand, the World Trade Center Association (WTCA) said. “Free zones that can provide the right combination of infrastructure, incentives, and investment support are exceptionally well-positioned to attract this global industry,” Scott Wang, WTCA vice-president, Asia-Pacific, said in a statement on Tuesday. The […]
Read more →Return to beyond-4% growth seen possible by 4th quarter
THE ECONOMY could return to an above-4% growth path in the fourth quarter, backed by record employment, stronger exports and remittances and an expected rebound in infrastructure spending, the University of Asia and the Pacific (UA&P) said. However, it said third-quarter growth could remain tepid at 2.3% due to delays in infrastructure spending and the […]
Read more →LPG prices set to decline this month
COOKING GAS prices are set to decline this month by around P0.40 per kilogram, the Department of Energy (DoE) said in a statement. The downward adjustment translates to a reduction of around P4.40 for a standard 11-kilo cylinder, according to the DoE, which gained the power to set guide prices during the energy emergency. The […]
Read more →DA, DoE exploring use of cheaper bioethanol feedstock
THE departments of Agriculture (DA) and Energy (DoE) are exploring cheaper and more diverse feedstock options to support the expansion of bioethanol production in the Philippines. Agriculture Secretary Francisco P. Tiu Laurel, Jr. met with Energy Secretary Sharon S. Garin to discuss how to lower feedstock costs, maximize idle distillery capacity, and expand domestic ethanol […]
Read more →Plastic pipes could undergo product certification
THE Department of Trade and Industry said the Bureau of Philippine Standards (BPS) is gearing up to impose mandatory certification for plastic pipes to ensure that they comply with safety requirements. According to a draft department administrative order (DAO), plastic pipes covered under the mandatory certification cannot be distributed without a PS (Philippine Standards) mark […]
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