June FDI net inflows at four-year low

Philippine foreign direct investment (FDI) net inflows sank to an over four-year low in June amid lower placements across all instruments. The inflows fell by 29% to $394 million from $555 million a year ago, preliminary data from the BSP showed.

July trade gap widest in 16 months

The Philippines in July posted its widest trade deficit since March 2023 as imports grew at their fastest clip in three months, outpacing the uptick in exports, the Philippine Statistics Authority (PSA) reported on Tuesday.

Senate ratifies CREATE MORE bicam report

The senate late Tuesday adopted and ratified a bicameral conference committee report on the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) bill, which seeks to lower taxes on domestic and foreign companies to 20% from 25%.

Amro: Development risks curb PHL bid for long-term growth

Aaccording to the Asean+3 Macroeconomic Research Office, the Philippine economy is expected to grow by 6.1 percent this year and 6.3 percent next year, while inflation will trend downward to 3.3 percent in 2024 and 3.1 percent in 2025.

PHL, ADB launch $12.4-billion Country Partnership Strategy to push development plan

The national government and the ADB launched the $12.4-billion six-year Country Partnership Strategy aimed to advance the country’s development agenda. 

BIR, business groups sign agreement to improve tax collection

The Bureau of Internal Revenue signed an agreement with business groups to help improve taxpayer services and entice businesses to pay proper taxes. BIR Commissioner Romeo Lumagui Jr said the partnership will allow the groups to collate data and suggestions among their members and they can share this with the BIR. The bureau, in turn, will also help explain new tax policies to the business sector.

PHL growth may fall below goal in 2025, 2026

The Philippine economy’s growth is expected to be on track to grow to its potential this year, but GDP may fall below target in 2025 and 2026, according to the Bangko Sentral ng Pilipinas (BSP).

NEDA sees faster growth in 2nd half

Philippine gross domestic product (GDP) growth in the second semester could be faster than the 6% average in the first half amid easing inflation and lower policy rates, the National Economic and Development Authority (NEDA) said. In the second quarter, GDP expanded by 6.3%, bringing the first-half growth to 6%.

Biz group to DENR: EPR law must cover hazardous waste

THE Federation of Philippine Industries (FPI) on Thursday urged Department of Environment and Natural Resources (DENR) Secretary Maria Antonia Yulo-Loyzaga to implement the Extended Producer Responsibility scheme on used lead acid batteries (ULABs) and other hazardous waste.

DoF says ratified tax deal gives it more tools to combat tax evasion

The Department of Finance (DoF) said the ratification of a global agreement on tax cooperation a decade after it was signed by the Philippines will help fight tax evasion and improve the government’s chances of meeting its revenue targets with the possibility of possible information exchanges with foreign partners.

Kalibo airport being positioned to service international flights

The Department of Transportation (DoTr) said the redevelopment of Kalibo International Airport is intended to attract international airlines to operate out of the facility, which is one of the gateways to the resort island of Boracay.

Telcos, 2 agencies to build central data system for cyber, physical infra

The Philippine Chamber of Telecommunications Operators (PCTO) and its partner agencies in the government plan to establish a central data repository for the country’s cyber and physical infrastructure. The PCTO, Cybercrime Investigation and Coordinating Center, and PNP Anti-Cybercrime Group have formed a multisectoral group, PROTECTA Pilipinas, aimed at protecting the Philippines’ technology assets.

PHL’S innovation output rising, yet progress lags

The Philippines has shown impressive innovation output despite limited resources, but progress in improving the quality of life remains slow, Ria Liza Canlas of the National Innovation Council told the third National Agri-Aqua Technology Business Incubation Conference and Incubatee Summit at SMX Convention Center Clark on Tuesday.

Work ongoing for new Dumaguete, Zamboanga, Siargao airports — DoTr

The Department of Transportation (DoTr) is looking to develop six greenfield airports, including ongoing projects in Zamboanga, Dumaguete, and Siargao. Transportation Secretary Jaime J. Bautista said at an aviation forum that preliminary work is ongoing for those three airports, including land acquisition activities.

NG raises P30 billion via sale of re-issued Treasuries

The government raised P30 billion on Tuesday’s auction of Treasury bonds (T-bonds), according to the Bureau of the Treasury (BTr). The auction committee made a full award of the reissued 7-year T-bonds with a remaining term of four years and eight months.

Naia changes coming; Sept. 14 takeover set

The consortium led by conglomerate San Miguel Corp. is all set to take over Ninoy Aquino International Airport (Naia) on Sept. 14 and has laid out plans to reassign the airport terminals. According to the proposal of New Naia Infrastructure Corp., terminal 2 will only service domestic flights and terminal 1 will be used exclusively by Philippine Airlines (PAL) for its international flights. All the foreign airlines will operate at terminal 3, which will also host the international flights of Cebu Pacific and AirAsia Philippines. Domestic flights of Cebu Pacific will be moved to terminal 2, while AirAsia domestic flights will be moved to terminal 4.

Air France to mount Manila-Paris direct flights starting December 8

The Department of Transportation (DOTr) and Air France KLM on Tuesday announced that the French airline would begin direct flights between Manila and Paris on December 8. This is expected to “boost trade and tourism exchanges between our two countries”, the DOTr said. Flights are expected to be sold online by Tuesday, September 10, said Femke Kroese, general manager of Air France KLM for Southeast Asia and Oceania.

DBM releases P31.93B for gov't employees' pay hike

The Department of Budget and Management (DBM) said it has released P31.93 billion for the salary increase of government employees. The salary increase comes after President Ferdinand “Bongbong” R. Marcos Jr. signed on August 2 Executive Order No. 64, approving the Salary Standardization Law VI (salary increase) for all civilian government personnel.

DA backs projects to ensure stable egg supply in PH

The Department of Agriculture (DA) is backing certain projects aimed at strengthening the egg value chain to ensure a stable egg supply and address challenges including high production costs.

PBBM sees agriculture production rebounding from El Niño

With support from the government, including fuel subsidies, agriculture production can rebound in the aftermath of the El Niño, a confident President Ferdinand Marcos Jr. said during the distribution of aid under various government interventions to farmers and fisherfolks in Ilocos Norte.

Airlines call for smooth NAIA terminal transition; NNIC assures gradual shift

Implementing terminal reassignments at Ninoy Aquino International Airport (NAIA) will need adequate time to ensure a smooth transition and minimal disruption to passengers, local airlines said on Tuesday. The Gokongwei-led budget carrier said discussions and coordination to transfer its flights from the Terminal 1 of Singapore’s Changi Airport to Terminal 4 took a year.

Rural ISPs push lifting of telco entry barriers

Internet service providers (ISPs) in far-flung areas have fired back at the dominant players in the connectivity industry by rallying behind a proposed law that would ease barriers for entry. In a statement, the Philippine Cable and Telecommunications Association (PCTA) called for the passage of Senate Bill (SB) 2699, or the Konektadong Pinoy Act, once deliberated in the plenary.

DOLE unfazed by 4.2% unemployment rate in July

THE Department of Labor and Employment (DOLE) on Wednesday indicated it is not alarmed by the 4.2-percent unemployment rate in July 2024. According to Secretary Bienvenido Laguesma, understanding the country’s labor force situation should not be solely dependent on the number of unemployed individuals.

PH self-driving public transport launched in Clark 

The Philippines’ first self-driving public transportation was launched at the New Clark City on September 10 by Japan-based Zenmov, Inc. in partnership with MC Metro Transport Operation Inc., the Bases Conversion and Development Authority (BCDA) said in a statement yesterday. Utilizing a transportation cloud system called Smart Mobility Operation Cloud (SMOC), the autonomous bus will run within

Agencies’ incomplete documents delay PPP projects — NEDA chief

Many public-private partnership (PPP) projects face delays in approval because implementing agencies fail to complete the requirements, the National Economic and Development Authority (NEDA) said. 

Higher transmission charge benefited gencos—NGCP

The National Grid Corporation of the Philippines (NGCP) on Thursday said it does not earn from the upward adjustment in transmission charge this month as the ancillary services (AS), which is a component of transmission charge, is a pass-through cost that benefited the power generation companies (gencos).

San Miguel eyes partnership for Caticlan resort project

San Miguel Corp. (SMC) may seek a partner to develop a leisure resort near the Godofredo P. Ramos Airport in Caticlan, the company’s president said. The development of the leisure resort is part of the company’s plan to cater to the growing tourism in the area as it is also in charge of the modernization of the airport in Caticlan.

Monde Nissin invests in Amico Innovations

Listed food and beverage manufacturer Monde Nissin Corp. will invest P17.5 million in retail company Amico Innovations, Inc. as it explores new business opportunities. Upon the execution of subscription documents, Monde Nissin will subscribe to 87,500 or 70% of Amico Innovation’s common shares at P200 per share, equivalent to P17.5 million, Monde Nissin said in a regulatory filing on Tuesday.

EU lawmakers push for new ‘dynamic pricing’ rules after Oasis fans complain

European Union (EU) lawmakers are backing calls for new rules around the use of “dynamic pricing” when selling online goods, after Oasis fans complained about massively inflated ticket prices for a string of sell-out shows by the British band. Last month, thousands of fans waited for hours in virtual queues to get their hands on tickets for Oasis reunion shows in the UK and Ireland next summer, only to find prices had jumped dramatically at checkout.

ACEN solar project in Zambales granted green lane certificate

The Board of Investments (BoI) said on Wednesday that it endorsed ACEN Corp.’s solar project in Zambales for green lane treatment, the eighth company project to be granted expedited permit processing. In a statement, the investment promotion agency said it endorsed ACEN’s SanMar Solar project to the BoI One-Stop Action Center for Strategic Investments, citing the need to boost clean-energy capacity.

Domestic sugar allocation seen improving prices for producers

Sugar farmers said the designation of the entire sugar harvest for the domestic market will fetch better prices for producers. The Sugar Regulatory Administration had earlier approved the classification of all sugar production for the 2024-2025 crop year as “B” sugar or for domestic use, according to Sugar Order No.1.