Solid waste management a top sustainability issue, ECCP says

ECCP has an upcoming, community level project called The Race to Zero Waste: A Call for Collective Action for Sustainable Waste Management. It will build on RA 9003, or the Ecological Solid Waste Management Act, and will continue to support and advocate for its effective implementation. 

NEDA: Strong middle-class key to long-term growth

The NEDA has underscored the pivotal role of a robust middle class in driving the Philippines' sustained economic growth and development. NEDA Secretary Arsenio Balisacan emphasized the importance of leveraging global megatrends to empower the middle class and achieve AmBisyon Natin 2040.

PBBM' pro-investment policies keep PH investment outlook strong

The chairperson of the House Ways and Means Committee commends the President for maintaining the Philippines' strong investment outlook amid a volatile global economic environment. This is after Moody’s Ratings affirmed the “BAA2” investment-grade credit rating of the country with a “stable outlook”. 

PEZA chief optimistic of hitting P200-B target

The PEZA is upbeat about hitting its P200-B yearend investment target as the CREATE MORE Bill was recently approved by the Senate on third and final hearing. The Create More bill offers benefits in R&D innovation and technology advancement in the country.

Bill granting VAT refund for non-resident visitors approved in Senate on final reading

The senate on Monday approved on third and final reading Senate Bill No. 2415 that seeks to establish a VAT refund mechanism for nonresident visitors. The House of Representatives approved a counterpart bill on third and final reading in March 2022.

DOE, PPA to upgrade ports for offshore wind projects

The Department of Energy (DOE) is teaming up with the Philippine Ports Authority (PPA) to modernize three priority ports to support offshore wind (OSW) development.

NEDA: Gov't pushes for reforms for sustained economic growth

The government is pushing for several reforms to achieve sustained economic growth, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said. Speaking at the Fourth Philippines-Singapore Business and Investment Summit in Singapore on Thursday, Balisacan said part of the government's efforts to achieve sustainable growth and greener future is investing in infrastructure and innovation to enhance resilience against climate shocks.

Telcos seek reduction in spectrum user fees

As the government has improved the ease of doing business in telco, the industry is asking it to work on minimizing costs next, starting with a mandatory fee requiring P5 billion yearly. The Philippine Chamber of Telecommunication Operators (PCTO) is pushing for the reduction, if not elimination, of spectrum user fees (SUF) that the government charges on telcos.

Philippines makes headway in digital payments

The Philippines is making significant strides in the digital payment landscape across Southeast Asia as the use of buy now pay later (BNPL) and point-of-sale (POS) among Filipinos showed significant growth, as of July this year, according to financial technology firm UnaCash. Based on the latest report from UnaCash, BNPL adoption in the Philippines has grown over the past few years as the share of users rose to 24.7 percent as of July, expanding by 9.6 times since 2018.

DA sees no rice shortage despite storm farm damage

Despite the mounting agricultural damage from recent typhoons, the Department of Agriculture (DA) is confident there will be no rice supply shortage, as production for the local food staple is projected to still reach 20 million metric tons (MMT) this year. 

CICC to monitor use of AI, deep fakes in May 2025 polls

The Cybercrime Investigation and Coordinating Center (CICC) will monitor the use of artificial intelligence (AI) and deep fakes in the 2025 national and local elections (NLE). The CICC is collaborating with COMELEC to include technologies that monitor false information.

BSP's next step towards its own digital currency — a roadmap to be crafted in 2025

Once its "Project Agila" ends in January 2025, the Bangko Sentral ng Pilipinas (BSP) will craft a three- to five-year roadmap in preparation for a possible central bank digital currency (CBDC), a top official said.

Transport modernization now 30% complete, claims DOTr

After the consolidation of franchises of Public Utility Vehicles (PUV) in April, the implementation of the modernization is now 30 percent complete, the Department of Transportation (DOTr) said Monday. DOTr Undersecretary Jesus Ferdinand Ortega said it may take two to three more years before the modernization program can be rolled out due to the ongoing route rationalization of PUVs through Local Public Transport Route Plan (LPTR). 

PH geothermal power firm adds 83MW clean energy by yearend

Geothermal power firm Energy Development Corporation (EDC) targets to have an aggregate installed capacity of some 83 megawatts (MW) of clean and renewable energy up and running in the country by the end of the year.

Central bank raises BoP projection

The BSP expects the country’s balance of payment (BoP) position to post a bigger surplus this year, but also anticipates a wider current account deficit. The BSP’s latest projections show the BoP will register a surplus of $2.3 billion, equivalent to 0.5% of gross domestic product (GDP) this year, higher than its earlier projection of $1.6 billion (0.3% of GDP).

Rice buildup in port could mean holdout for better prices — PPA

Hundreds of containers bearing rice remain unclaimed in port, with the port regulator saying that importers may be awaiting better market prices or trying to save on warehousing costs. Speaking at a Palace briefing, Philippine Ports Authority (PPA) General Manager Jay Daniel Santiago acknowledged the possibility that importers were timing their withdrawals of rice from the Manila International Container Terminal with an eye towards market prices and storage costs.

DA pact on climate to benefit 1.25 million farmers

The Department of Agriculture (DA) entered into a tripartite agreement for the $39.2 million climate change project set to benefit 1.25 million farmers in the climate-vulnerable regions of the country. The deparmtment signed the Operational Partners Agreement together with the Philippine Atmospheric, Geophysical, and Astronomical Services Administration (Pagasa) and the Food and Agriculture Organization of the United Nations (FAO).

Safety monitoring at construction sites to undergo streamlining — Labor dep’t

The Department of Labor and Employment (DoLE) said it and other agencies hope to streamline safety monitoring at construction sites after setting the guidelines for a joint administrative order (JAO). On Monday, DoLE, together with the departments of Public Works and Highways, Transportation, and Trade and Industry, through the Construction Industry Authority of the Philippines (CIAP), signed the guidelines for implementing JAO No. 1, Series of 2022.

Rules currently favor imports in 2-wheel EV market, Honda says

Honda Philippines, Inc. said imports are currently a better option than local production in the two-wheel electric vehicle (EV) market, based on the rules now in place. The company produces EV motorcycles in China, Indonesia, India, and Thailand.

DOH settles 90 percent of HEA arrears

The Department of Health it has settled some 14.5 million claims or about 90 percent from health workers, following the decision of President Ferdinand R. Marcos, Jr. to fully fund the remaining P 27.3 billion this year. As of 20 September 2024, 64 percent of the additional P27.3 billion has already been disbursed, the department said.

DA sets support system for coops

The Department of Agriculture (DA) is setting up a support system for cooperatives and groups to increase the productivity and income of farmers. Agriculture Secretary Francisco Tiu Laurel Jr. ordered that the newly established Agricultural Cooperative Enterprise Development (Aed) services would operate within both the central and regional field offices of the DA through Memorandum Circular 22.

Initial work starts on preparing three ports to serve offshore wind farms

THE Philippine Ports Authority (PPA) has kicked off the process of repurposing three ports to service the nascent offshore wind (OSW) industry, according to the Department of Energy (DoE).

House poised to pass P6.352-T budget this week

The House of Representatives is set to approve the P6.352-trillion budget, a 10.1% increase from the current national budget as per the Department of Budget and Management (DBM).

“Convergence” growing on global plastics treaty - UNEP Chief

The director of the UN Environment Program (UNEP) said she is beginning to see convergence on the world’s first binding treaty on plastic pollution despite differences on production caps and a tax-like plastic fee. Moreover, her team is preparig for final negotiations on the said treaty in late November in South Korea’s Busan.

Rice tariff collections breach P25 billion

The government has collected at least P25 billion in tariffs from over 2.8 million metric tons (MT) of imported rice from January to August, latest Bureau of Customs (BOC) data showed. The uptick in tariff collections could be attributed to the increase in import volume coupled with the higher declared value of shipments.

DepEd speeds up textbook, learning tool procurement

Education Secretary Sonny Angara has ordered for the conduct of Early Procurement Activities (EPA) in fiscal year 2025 in a bid to ensure the timely delivery of educational materials, including textbooks. 

Jumbo RRR cut seen to inject over P300 billion into economy

More than P300 billion could be released into the Philippine economy after the central bank slashed the reserve requirement ratio (RRR), analysts said. The Bangko Sentral ng Pilipinas (BSP) on Friday said it would reduce the RRR for big banks and nonbank financial institutions with quasi-banking functions by 250 bps to 7% from 9.5%, effective Oct. 25. It will also reduce the ratio for digital banks by 200 bps to 4%; thrift banks by 100 bps to 1%; and rural banks and cooperative banks by 100 bps to 0%.

Fuel prices to increase up to P1.10 a liter starting September 24

Fuel prices will increase beginning Tuesday, September 24, oil companies have announced in separate advisories. Seaoil, CleanFuel, Petro Gazz, and Shell Pilipinas said the per-liter costs will rise by P1.10 for gasoline and 20 centavos for diesel. These upward adjustments in the prices of gasoline and diesel came two weeks after big price rollbacks on petroleum products.

Government urged to extend zero tariff on e-vehicles

Japanese maker of automobiles and motorcycles Honda Motor Co. Ltd. wants the government to extend beyond 2028 the implementation of the zero import tariffs on electric vehicles including hybrid electric vehicles (HEVs) to encourage the adoption of EVs in the country.

PHL slumps to near bottom of global talent index

The Philippines slumped to the near bottom of an annual global ranking of countries’ ability to attract and retain a skilled workforce, a report by the Institute for Management Development (IMD) World Competitiveness Center showed.

Philippines eyed as global hub for climate technology

A collaborative effort among the government, the private sector and the academe is in full swing to turn the Philippines into a global hub for climate technology and innovation. The Department of Science and Technology (DOST) is partnering with Filipino software developers group DEVCON Philippines and the De La Salle University (DLSU) for an ambitious effort, codenamed CResT, for the Climate Resilience Technology platform.

Investments in Philippines startups lagging in Southeast Asia

Clean energy and climate startups in the Philippines are trailing their regional counterparts in terms of capital investments, according to California-based business incubator New Energy Nexus (NEX). At a recent media roundtable, NEX country director Brenda Valerio said the Philippines is “lagging” in Southeast Asia when it comes to the number of unicorns, or startups with a valuation exceeding $1 billion.

Jobs lost to AI overseas could mean more work for PHL, BPO industry says

The Philippines could emerge as a beneficiary of job cuts overseas due to artificial intelligence (AI), an industry group said, noting that outsourcing might actually accelerate hand-in-hand with the AI trend. Most reports about job losses in relation to AI adoption are written from a foreign perspective, Dominic Vincent D. Ligot, head of AI and research at the IT and Business Process Association of the Philippines, told BusinessWorld on Thursday.

Congestion not behind rice import delays, says Customs

Rice imports that are accumulating at Manila ports cannot yet be released as consignees still have to pay the required taxes and complete other requirements, the Bureau of Customs (BoC) said. Agriculture Secretary Francisco Tiu Laurel Jr. said the port congestion was hampering significant decreases in rice prices.

Business groups back BCDA charter changes

Five major business groups in Central Luzon are supporting proposals to amend the charter of the Bases Conversion and Development Authority (BCDA). The amendments include converting a portion of BCDA’s economic zones from leasehold to freehold, and enhance Clark’s viability as an investment destination.

Philippines lacks net zero commitments

The country is facing significant challenges in achieving its “net zero” target due to the lack of a national declaration to guide its efforts, according to climate advocate Net Zero Carbon Alliance (NZCA). The absence of a nationwide campaign prompts private companies and NGOs to do it on their own

Goat, sheep flocks targeted for expansion by DA

The Department of Agriculture (DA) said it is studying ways to expand the Philippines’ goat and sheep flocks, primarily by opening new farms and supporting established ones. Under MC 39, the DA plans to develop nucleus and multiplier farms for breeding stock to be introduced to production centers and farmer growers.

Gov’t debt yields rally following Fed, RRR cuts

Yields on government debt rallied across the board last week after the US Federal Reserve kicked off its long-awaited easing cycle with a jumbo cut.

Govt to set aside ₱8.8B for DOST grant scheme

A statement issued by the DBM last Sunday stated that the funding will continue the implementation of various science and technology (S&T) and innovation programs; a tack the DBM expects would spur economic growth and development.

Philippines rises in 2024 Asia Power Index

The Philippines went up a notch to 15th out of 27 countries and territories in the 2024 Asia Power Index by the Lowy Institute. With an overall score of 14.7 points out of 100, the country was classified as a “middle power” in the region. 

5 regions selected for 7-year agri climate resilience project

THE Department of Agriculture (DA) said that its $39.2-million climate resiliency program will operate in five vulnerable regions, benefiting 1.25 million farmers. The seven-year Adapting Philippine Agriculture to Climate Change (APA) project will promote the adoption of climate-resilient farming practices. Within the five regions, which are the Cagayan Valley, the Cordillera Administrative Region, Bicol, Northern Mindanao, and Soccsksargen, the project will roll out across 9 provinces and 100 municipalities.

PH affirms UN 'pact' to boost global governance

Foreign Affairs Secretary Enrique Manalo said the country welcomes United Nation’s (UN) comprehensive pact to strengthen global governance and tackle key challenges of humanity. The action plans of the pact include sustainable development, technological innovation, and international peace.

BCDA, S. Korean agency in Clark development tie-up

The Bases Conversion and Development Authority (BCDA) has entered a partnership agreement with South Korea’s National Agency for Administrative City Construction (NAACC) to develop New Clark City in Capas, Tarlac, a 9,450-hectare project.

Clark Aviation Capital launched

The sprawling prime government land surrounding the Clark International Airport (CIA) will now be called the Clark Aviation Capital of the Philippines. It was formally launched to be the “aviation-centric business capital of the country” during a general assembly with the CIA Corp. directors and some 150 personnel.

Senate ratifies PHL-South Korea FTA

The senate on Monday ratified the free trade agreement (FTA) between the Philippines and South Korea, a move that will pave the way for increased exports of Philippine bananas and processed pineapples to Seoul. 

Stronger peso likely to hurt exports, services

The peso could strengthen further following the start of the US Federal Reserve’s rate-cutting cycle, analysts said, but warned that these could impact exports and services. The Fed’s policy rate is expected by the end of 2025 to be at 2.85%, which is now thought to be the Fed’s estimate of the neutral rate.

‘PHL inflation to ease with weak oil prices’

Filipinos burdened with high prices could get some reprieve as the weakness in global oil prices is expected to have a significant impact on local inflation, according to Australia and New Zealand Banking Group’s think tank. Among select Asian countries, the Philippines and Thailand will see the biggest slowdown in inflation due to cheaper oil prices, ANZ Research said.

Senate approves new DBP charter on final reading

The senate on Monday approved on third and final reading a measure that provides for a new charter for the Development Bank of the Philippines (DBP), which will raise its authorized capital stock and allow it to conduct an initial public offering.

RE players seek improvements in green energy auction

Renewable energy (RE) leaders are seeking improvements in the green energy auction program (GEAP) to allow more energy players to participate actively. At an energy forum organized by ING Philippines on Monday, SunAsia Energy, Inc. President and Chief Executive Officer Maria Theresa Cruz-Capellan said that the government should craft “a more sophisticated auction design.”

PHL climate financing hits record $3.13B in 2023

The Philippines obtained a record $3.13 billion (P174.23 billion) from multilateral lenders to fund projects aimed at mitigating the effects of climate change, the European Investment Bank (EIB) said. The 2023 total was 7.67% higher than the $2.91 billion obtained in 2022, according to the EIB’s 2023 Joint Report on Multilateral Development Banks’ (MDB) Climate Finance.

FPIP Batangas commercial center expected to open by early 2026

First Philippine Industrial Park (FPIP) is building a three-story mixed-use hub in Santo Tomas, Batangas, which is expected to boost employment at the economic zone from the current staffing level of over 70,000. FPIP Plaza will offer 15,000 square meters of space for retailers, restaurants, service centers, corporate offices, and government offices upon completion.

Unilever to offer grants to groups addressing plastic pollution

Unilever said it and its partners have established an organization to issue grants to Philippine organizations engaged in plastic waste collection, processing, and recycling. In partnership with the US Agency for International Aid, and Ernst and Young Global Ltd., Unilever-founded Catalyzing Inclusive, Resilient, and Circular Local Economies or the CIRCLE Alliance will fund qualified enterprises.

‘PHL-Sokor FTA could leave Pinoys with short end of the stick’

Filipino producers might get the short end of the stick once the free trade deal between the Philippines and South Korea enters into force, an agriculture coalition warned Monday, noting that the tariffs agreed upon favors Korean firms more than local players.

SEC extends services to SOCCSKSARGEN

The Securities and Exchange Commission (SEC) has expanded its reach in Mindanao with the opening of a new extension office to serve Koronadal City and surrounding areas. The new office will enable easier access to SEC services such as company registration and compliance monitoring for the corporate sector.

Bankers high on Philippines' economic growth

The country’s enormous economic potential was discussed when several business leaders attended a dialogue titled “Unfolding Opportunities” organized by the Hong Kong Shanghai Banking Corp. (HSBC). The rosy outlook on the country’s economy stems from growing economy, growing population, and “growing trade liberalization and emerging sectors for investments.”

Intensified US-China trade tensions may weaken Philippine peso—Oxford Economics

An intensified trade war between the United States and China in case Donald J. Trump retakes the US presidency may weaken currencies in Southeast Asia, especially the Philippine peso, according to the think tank Oxford Economics. This will occur if the US further jacks up import tariffs slapped against Chinese goods under another Trump presidency, thereby affecting regional monetary policy decisions.

BSP delivers a jumbo 250-basis point RRR cut to 7%

The Bangko Sentral ng Pilipinas said on Friday that the RRR for universal and commercial banks will be cut by 250 basis points to 7% of deposits from 9.5%. The reduction in the amount that lenders must set aside in reserve, effective October 25, was intended to lower intermediation costs and promote better pricing for financial services, it said in a statement.

DoTr postpones penalties for motorists without RFID to 2025

The department of Transportation (DoTr) has deferred the implementation of new tollway rules, which impose fines on motorists with no radio frequency identification (RFID) tags or insufficient funds on their accounts, to 2025.

Bank reserves cut seen to unleash P300 billion

The reduction in banks’ reserve requirement ratios (RRR) last week will inject over P300 billion in liquidity into the financial system, which would help boost economic growth, analysts said.