DA invests over P1b for digitalization of agriculture sector

The Department of Agriculture said that it invested over P1 billion in digitalization efforts to address the pressing challenges faced by the agriculture sector. Agriculture Secretary Francisco Tiu Laurel Jr. highlighted the importance of the investment during the 2024 Sustainable Agriculture Forum organized by the European Chamber of Commerce of the Philippines (ECCP).

Making agri ‘cool’ for youth key to PH food security — lawmaker

Making agriculture “cool” for the youth to get involved in the industry will be key to the country’s food security, Bicol Saro party-list Rep. Brian Raymund Yamsuan said at the 2024 Sustainable Agriculture Forum organized by the European Chamber of Commerce in the Philippines (ECCP).

DA welcomes law imposing stricter fines vs. smugglers

Agriculture Secretary Francisco Tiu Laurel Jr. welcomed the signing of the Anti-Agricultural Economic Sabotage Act (AGES). “This new law, with its higher fines and potential life imprisonment, should act as a strong deterrent to those engaged in illegal activities that harm our farmers and fisherfolk,” said Tiu Laurel at the sidelines of the 2024 Sustainable Agriculture Forum organized by the ECCP.

'Green lane'- certified investments reach P4.13 trillion

The BOI said it has certified 126 projects worth P4.13 trillion under its "green lanes" initiative for strategic investments. The BOI said P3.74 trillion of the investments are in renewable energy, while P346.33 billion are in digital infrastructure. 

ADB keeps PHL growth forecasts

The ADB kept its economic growth forecasts for the Philippines at 6% this year and 6.2% for 2025, as moderating inflation and further policy easing boost domestic demand. 

Marcos signs Anti-Agricultural Economic Sabotage Act into law

President Ferdinand Marcos Jr. on Thursday, September 26, signed into law a measure imposing stiffer penalties for agricultural smuggling.

Sept. inflation likely eased to 2.5% — Recto

Philippine Inflation would likely ease to 2.5% this month, giving the central bank room to cut interest rates more than expected, Finance Secretary Ralph G. Recto said on Tuesday. But the government remains cautious as the escalating conflict in the Middle East could lead to a spike in global oil prices.

NEDA Pushes Anew For Swift Passage of Konektadong Pinoy Bill In LEDAC Meeting

The NEDA has called for the expedited passage of the Konektadong Pinoy Bill, also known as the Open Access in Data Transmission Bill, during the sixth LEDAC meeting held on September 25. This initiative aligns with the government’s commitment to ensuring fast, reliable, and affordable internet access for all Filipinos. NEDA Secretary Arsenio M. Balisacan emphasized the bill’s significance, stating, “The Konektadong Pinoy Bill is crucial to the Philippine Development Plan (PDP) 2023-2028, as it will usher advancements across various sectors, including ICT, education, health, and agriculture.”

Airbus plans facility expansion in Philippines

European aircraft manufacturer Airbus SE plans to expand its operations in the Philippines due to the massive growth in passenger numbers. Moreover, it seeks to partner with the Philippine Air Force to modernize the country’s air defense.

Talent shortage may hamper AI adoption among PH BPOs: Industry group

The IT-Business Process Association of the Philippines (IBPAP) states that Information Technology-Business Process Management (IT-BPM) companies in the Philippines are facing a shortage of employees who can work with artificial intelligence (AI). This is due to the education system being credential-based and not skills-based.

PBBM: PSAC’s internet, flood control plans to benefit isolated areas  

The Private Sector Advisory Council’s (PSAC) proposals to improve internet connectivity and mitigate flooding will benefit Filipinos, especially those from far-flung areas, President Ferdinand R. Marcos Jr. said. 

PH likely to exit grey list soon

The Philippines will likely exit the Financial Action Task Force (FATF) grey list or the list of jurisdictions under increased monitoring soon, an official of the Department of Justice (DOJ) said. The organization recognizes that the Philippines has made significant progress in enhancing its anti-money laundering and counter-terrorism financing (AML/CTF).

DOTr earmarks P82M for airports’ design

The Department of Transportation (DOTr) is spending about P81.73 million to craft detailed engineering designs of airport projects in Aklan and Cotabato to increase regional connectivity and address increasing passenger traffic.

Bicam report raising RCEF allocation to P30B ratified

Congress ratified the bicameral conference committee report on a bill seeking to raise the yearly allocation of the Rice Competitiveness Enhancement Fund (RCEF) to P30 billion from P10 billion until 2031. The measure coming out of bicam, which harmonized Senate Bill No. 2779 and House Bill No. 10381, also requires the National Food Authority (NFA) must maintain a rice reserve equivalent to at least 15 days’ demand, according to the bicam report.

Tourist spending to rise nearly 30% with VAT refund law in place — DoT

Tourist spending is projected to increase 29.8% if the government passes the value-added tax (VAT) refund law for foreign tourists, according to the Department of Tourism (DoT). In a statement on Thursday, the DoT expressed support for the passage of the refund legislation, which it called “a crucial milestone in enhancing the country’s appeal as a premier tourism destination, positioning the Philippines competitively among its regional neighbors.”

Senate, House to enact 5 more bills before Xmas break

The Senate and the House of Representatives are expected to enact five more bills before the Christmas break or before year end, Senate President Francis Escudero said on Wednesday. During the 6th Legislative Executive Development Advisory Council’s (LEDAC) full meeting at the Malacañan Palace, Escudero said both legislative chambers will also pass additional measures before the end of the session of the 19th Congress.

Gov’t budget deficit narrowed by 59.2% in August

The country’s budget deficit narrowed by 59.24 percent to P54.2 billion in August from P133 billion in the same month last year amid a modest decline in state spending, the Bureau of the Treasury (BTr) reported on Wednesday. Data showed that total revenues in August increased by 24.40 percent to P386.3 billion, while state expenditures declined by 0.68 percent to P440.5 billion.

DOF readies tax administration plan for Bangsamoro government

The Department of Finance (DOF) is preparing the tax administration transition plan for the Bangsamoro government which includes the establishment of a digitalized tax system to streamline revenue payment and collection processes in the region.

ADB to invest in reducing Asia-Pacific lead exposure

The Asian Development Bank (ADB) will increase its investments in reducing lead exposure, and eliminate childhood exposure by 2040, in the Asia-Pacific, noting the health and economic costs it imposes on countries in the region.

PhilHealth eyes 30-percent increase in benefit packages

Another 30-percent increase in the coverage rates of benefit packages could be implemented in November by the Philippine Health Insurance Corp. (PhilHealth). PhilHealth says that the adjustment aims to eliminate out-of-pocket expenses.

PHL now considers agri smuggling, hoarding ‘economic sabotage’

President Ferdinand R. Marcos, Jr. on Thursday signed into law a measure classifying agricultural smuggling, hoarding, profiteering, and financing of these crimes as acts of economic sabotage. The law will go into the books as Republic Act No. 12022, the Anti-Agricultural Economic Sabotage Act.

PBBM to solons: Pass bills on Dept of Water, WTE, other priorities

President Ferdinand Marcos called on Congress for the swift passage of his remaining priority bills including new environment-related laws, which will create the Department of Water Resources (DWR) and convert garbage into energy.

Easing inflation proof of lower logistics costs – PPA

Logistics costs in the country have gone down and is now being felt by consumers, and the Philippine Ports Authority (PPA) is hoping to sustain this for the long term. In a statement, the PPA said it plans to keep the downward trend in logistics costs to help reduce market prices of basic goods, hoping to emulate what happened in August.

House ratifies bicam report on proposed amendments to RTL

The House of Representatives ratified on Wednesday the bicameral conference committee report on the proposed amendments to the Rice Tariffication Law. The measure proposed to allow the selling of NFA rice buffer stock to the public through Kadiwa outlets during food security emergency situations to help stabilize rice prices. 

Budget gap narrows to P54 billion in August

The government recorded a narrower budget deficit of P54 billion in August as non-tax collections drove revenue growth coupled with a slight decline in state spending. Data from the Bureau of the Treasury showed that the Marcos administration recorded a budget shortfall of P54.2 billion in August.

Marcos seeks immediate passage of waste-to-energy bill 

President Ferdinand ''Bongbong'' Marcos Jr. on Wednesday sought for the immediate passage of the “Waste-to-Energy Bill,'' with the aim to address flood woes in the country. The Presidential Communications Office said the Waste-to-Energy Bill was already approved on third and final reading by the House of Representatives while it is still pending for second reading at the Senate.

Government to borrow P310 billion from local market in Q4

The government will borrow P310 billion from the domestic debt market in the fourth quarter in anticipation of further monetary policy easing.

Philippines semicon industry to benefit from US-funded program

The Philippines is among the countries selected for a $13.8-million program funded by the United States to expand and develop the workforce, as well as improve the regulatory environment to support the growth of the semiconductor industry.

Palay production may decline due to La Niña

The anticipated La Niña weather pattern is expected to pull down the Philippines’ palay (unmilled rice) production for the rest of the year amid risks of heavy rains and intense flooding, analysts said. In a report, Fitch Solutions’ unit BMI said the impact of La Niña on rice production in Southeast Asia “will be shaped via the precise timing of the onset of La Niña conditions (and the extent to which it overlaps with critical stages of crop development) as well as the eventual duration and severity of the event itself.”

CTA partially grants P70.77-M tax credit to Pilipinas Shell

The Court of Tax Appeals (CTA) has granted Pilipinas Shell Petroleum Corp. a P70.77-million tax refund or credit certificate for excess excise taxes paid in 2019, partially approving the company’s request. In a Sept. 23 decision, the tax court’s third division ruled that the company is entitled to a tax return of just over P70 million out of the P71 million it petitioned for, disallowing P414,864 because the company sold fuel to an airline without a valid foreign air carrier’s permit (FACP).

Meralco taps MIESCOR to link Terra Solar project to Luzon grid

MANILA Electric Co. (Meralco) has tapped its subsidiary Meralco Industrial Engineering Services Corp. (MIESCOR) to link the P200-billion Terra Solar project to the Luzon grid. MIESCOR signed a contract with Terra Solar Philippines, Inc. (TSPI) to design and construct critical infrastructure that will connect the solar plant to the grid, the company said in a statement on Thursday.

Alternergy eyes P15 billion for projects

ALTERNERGY Holdings Corp. plans to allocate P15 billion to fund the capital requirements for its projects, which have a combined capacity of at least 190 megawatts (MW). Around 75% of the capital requirements will be sourced from debt, while 25% will come from equity. The funding will be used to cover the additional capacity for two projects in the predevelopment stage and one project scheduled for completion by 2026.

Remolona signals 2 more rate cuts

The Bangko Sentral ng Pilipinas (BSP) could slash rates by 50 basis points (bps) more this year, its governor said on Wednesday. BSP Governor Eli M. Remolona, Jr. told reporters the Monetary Board could implement two more rate cuts at its next two meetings scheduled for Oct. 17 and Dec. 19.

P3.74T of RE projects endorsed by BoI for ‘green-lane’ treatment

The Philippines’ Board of Investments (BoI) on Thursday said it had endorsed P3.74 trillion worth of renewable energy (RE) projects for green-lane treatment as of Sept. 25, in line with a state goal of boosting RE capacity, reducing carbon emissions and creating local jobs.

Waste-to-energy seen as balancing act between disposal, increased emissions

Waste-to-energy (WTE) projects involve trade-offs between disposing of waste and raising emissions levels, though the severity of the Philippines’ energy problems means all technologies must be considered, analysts said.

Energy dep’t seeking up to $250M to derisk exploration for geothermal investors

The Philippines  may need to obtain an initial $250 million to derisk projects for potential geothermal developers, the Department of Energy (DoE) said. “The de-risking facility is about $250 million,” Energy Assistant Secretary Mylene C. Capongcol said on the sidelines of a conference organized by the National Geothermal Association of the Philippines (NGAP) on Wednesday.

NFA bats for fund releases to hit palay procurement goals

THE National Food Authority (NFA) said it is seeking funding to allow it to hit its goals for procuring palay, or unmilled rice. In a statement on Thursday, NFA acting Administrator Larry R. Lacson said it is seeking P9 billion to bring its palay procurement budget to P11 billion this year.

July NFA palay procurement hits 10,045 MT

The National Food Authority (NFA) said on Wednesday that it procured 10,045 metric tons (MT) of palay, or unmilled rice, in July, equivalent to 224,252 bags of 50 kilograms each. It said farmers were attracted to the high purchase price offered by the NFA, which buys from domestic farmers to maintain an emergency reserve of rice. The NFA inventory of milled rice was 3,013,048 bags or 150,652 MT in the seven months to July.

Traders cornering tariff cut benefits, farmers say

Farmers said savings from the lower tariffs on rice have been pocketed by traders instead of being passed on to consumers. In June, President Ferdinand R. Marcos, Jr. signed Executive Order No. 62 which lowered the tariff on imported rice to 15% from 35% until 2028, citing the need to stabilize rice prices. The order took effect in July.

NEDA sees ‘Konektadong Pinoy’ boosting agri, education, health

The National Economic and Development Authority (NEDA) called for the immediate approval of the Konektadong Pinoy bill, which it expects to help bolster growth in education and agriculture. The bill “aligns with the government’s commitment to ensuring fast, reliable, and affordable internet access for all Filipinos,” NEDA said.

Tourist spending to rise nearly 30% with VAT refund law in place — DoT

Tourist spending is projected to increase 29.8% if the government passes the value-added tax (VAT) refund law for foreign tourists, according to the Department of Tourism (DoT). In a statement on Thursday, the DoT expressed support for the passage of the refund legislation, which it called “a crucial milestone in enhancing the country’s appeal as a premier tourism destination, positioning the Philippines competitively among its regional neighbors.”

Bicam report raising RCEF allocation to P30B ratified

Congress late Wednesday ratified the bicameral conference committee report on a bill seeking to raise the yearly allocation of the Rice Competitiveness Enhancement Fund (RCEF) to P30 billion from P10 billion until 2031.

Semiconductor sector gears up for $13.8-M training program By Bless Aubrey Ogerio

The Philippines is poised to strengthen its position as a global semiconductor hub with the launch of a $13.8 million workforce development program. This two-year program, funded by the International Technology Security and Innovation Fund (ITSI Fund) of the US CHIPS and Science Act, aims to upskill 6,000 Filipinos in key areas of semiconductor assembly, testing, and packaging (ATP).

Ongoing ADAS 2024 beefs up AFP defense collaboration

This year’s Asian Defense, Security, and Crisis Management Exhibition and Conference (ADAS 2024) will provide the Armed Forces with more means to collaborate with international defense partners. ADAS 2024, the event’s fifth iteration, is scheduled from September 25 to 27 at the World Trade Center in Pasay City.

Senate finance panel passes Opapru proposed ’25 budget

The Senate’s Finance Subcommittee C headed by Sen. Ronald dela Rosa approved on Wednesday the proposed budget of the Office of the Presidential Adviser on Peace, Reconciliation, and Unity (Opapru) for fiscal year 2025.

Senators vow full support for Magna Carta for Barangay Health workers By Butch Fernandez

This time around, a bill institutionalizing and expanding benefits and rights of barangay health workers (BHWs), hailed as overworked but underpaid backbone of the public health system, might finally see fruition.

DA allots P5-B to ensure farm price stability in 2025

The Department of Agriculture (DA) said it is setting aside a buffer fund of P5 billion for 2025 to help boost the supply and maintain the stability of prices of agricultural commodities. Section 9 of the Price Act allowed the DA to stockpile agricultural commodities and devise ways of distributing them for sale at reasonable prices in areas experiencing supply shortages or unreasonable price increases.

DOE unveils nuclear energy road map

The Department of Energy (DOE) reported on Wednesday that it unveiled its Nuclear Energy Roadmap at the 68th International Atomic Energy Agency (IAEA) General Conference (GC) in Vienna, Austria, last week.

House OKs ₱6.35-T budget for ’25; OVP gets ₱733M

Voting 285-3-0, the House of Representatives approved on third and final reading late Wednesday HB 10800 or the proposed General Appropriations Bill. The lower chamber gave the approval after President Ferdinand “Bongbong” R. Marcos Jr. certified as urgent House Bill (HB) 10800, also known as the General Appropriations Bill (GAB), which details the proposed P6.352-trillion national budget for 2025.

Govt dangles perks for geothermal developers

Qualified geothermal power developers will be entitled to financial assistance that may cover almost half of their drilling and exploration expenses, according to Energy Undersecretary Mylene Capongcol.

Bill amending rice tariff law awaits Marcos signature

The bill amending the existing Rice Tariffication Law (Republic Act 11203) is now awaiting the signature of President Ferdinand Marcos Jr. This after the House of Representatives and the Senate separately ratified the bicameral conference committee report on Wednesday, just before adjourning for their scheduled recess until November 4. With both chambers having already ratified the measure, it is now ready to be sent to Malacañang for the President’s approval to officially become law.

Digitalization to boost tax collection by 2026–DOF

Digitalization efforts of the Bureaus of Internal Revenue (BIR) and Customs (BOC) to improve the government’s tax collection will come to fruition by 2026, according to the Department of Finance (DOF).

‘New law will dismantle cartels behind smuggling of agri goods’

President Ferdinand Marcos has vowed to “dismantle the powerful forces” behind the smuggling, hoarding, and profiteering of agricultural and fishery products after signing Republic Act (RA) 12022 or the Anti-Agricultural Economic Sabotage Act last Thursday. 

NFA seeks funds for purchase of palay

The Department of Agriculture (DA) is seeking the release of P9 billion this year for the National Food Authority’s (NFA) palay procurement program. 

P3.74T of RE projects endorsed by BoI for ‘green-lane’ treatment

The Philippines’ Board of Investments (BoI) on Thursday said it had endorsed P3.74 trillion worth of renewable energy (RE) projects for green-lane treatment as of Sept. 25, in line with a state goal of boosting RE capacity, reducing carbon emissions and creating local jobs.

Tourist spending to rise nearly 30% with VAT refund law in place — DoT

Tourist spending is projected to increase 29.8% if the government passes the value-added tax (VAT) refund law for foreign tourists, according to the Department of Tourism (DoT). The measure is also seen as an opportunity to promote products such as Marikina shoes, barongs, and traditional weaves.

PHL prices still high, household spending to remain subdued, ANZ Research says

Elevated prices  will continue to dampen household spending in the Philippines, ANZ Research said. The heavily weighted food and non-alcoholic beverages index is typically the main contributor to headline inflation, with rice accounting for almost half of overall inflation.

MMC regulations on use of e-trikes to include definitive penalties

The Metro Manila Council is set to release a resolution regulating the use of electric motor vehicles, especially along major thoroughfares. Nuñez said the resolution would reconcile the policies of local government units (LGUs) on e-trikes with those of the national government.

Cebu, Singapore enter deal to scout for infra investments abroad

The provincial government of Cebu entered into a partnership with a Singapore-based firm that would lobby for more foreign investments for the province’s infrastructure development. The areas of development covered under the agreement are water supply, waste management, renewable energy, and transportation.

S&P sees more BSP rate cuts in next 3 years

Debt watcher S&P Global Ratings expects more rate cuts from the Bangko Sentral ng Pilipinas (BSP) over the next three years, amid the US Federal Reserve’s shift to an easing cycle and soft economic growth in the Philippines.