Exit from FATF grey list seen boosting PHL growth
The declaration of the Paris-based Financial Action Task Force (FATF) that the country is inching closer to its exit from the grey list as it has met its deficiencies bodes well for the Philippines’s economy.

Finnish firms eyeing infrastructure energy opportunities in Philippines
A delegation of Finnish companies is exploring business opportunities in the Philippines in the energy, infrastructure and waste management sectors. Ville Tavio, Finland’s minister for foreign trade and development, led a business delegation of Finnish companies interested in opportunities in the Philippine market.

PHL aims to be in top 20% in World Bank’s Business Ready report
The Philippines is hoping to be included among the top 20% of the countries assessed by the World Bank for its Business Ready report by 2026, the Anti-Red Tape Authority (ARTA) said.

Unresolved flood problems deemed obstacle to reaching upper middle-income status
The Philippines may find it difficult to graduate to upper middle-income status if the government does not solve the problem of flooding, GlobalSource Partners said.

Clarity on mining fiscal regime to benefit ore processing sector
Clarity on the provisions of the mining fiscal regime is expected to attract more investment in mineral processing, the Chamber of Mines of the Philippines (CoMP) said.

Philippine tech leaders push for Filipino-centric AI tools and early AI education
In a panel discussion during a recent forum on AI, Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) Executive Director Enrico Paringit said AI must be promoted and encouraged to help Filipinos make the right decisions.

EV sales in PH seen growing by 10% in 2024
CAMPI said that local sales of electric vehicles (EV) in 2024 is expected to surpass last year by at a tenth, drawing optimism that the government’s vehicle modernization efforts will drive the growth.

Marcos reaffirms commitment to achieving zero hunger in PH
President Ferdinand Marcos Jr. reaffirmed his commitment to achieving zero hunger in the Philippines during the launch of the Enhanced Partnership Against Hunger and Poverty (EPAHP) Joint Memorandum Circular on Monday.

Semiconductor sector sees 5% growth in 2025
The semiconductor industry in the Philippines is predicting 5-percent growth in 2025, a turnaround from the 10-percent contraction expected this year. SEIPI President Dan Lachica attributed the recovery to ongoing inventory corrections and government initiatives to draw more investments.

Govt borrowings jump fourfold in September
The national government’s (NG) borrowings quadrupled in September due to a surge in its external debts, according to the Bureau of Treasury (BTr). Latest BTr data showed that national government borrowings jumped 310.77 percent to P347.425 billion in September 2024 from P84.578 billion in September 2023.

Southeast Asian ports alliance inks ‘green’ deal in Subic Bay
Major ports in the Southeast Asian region have joined the Port of Subic in its campaign for resilient, sustainable and carbon-neutral ports, committing recently to strengthen collective action in promoting best practices and expertise in these areas.

Germany pledges funds to help developing economies meet farm trade standards
Germany is pledging EUR 150,000 (approximately CHF 140,000) in 2024 to the Standards and Trade Development Facility (STDF) to help developing economies and least-developed countries (LDCs) improve their sanitary and phytosanitary (SPS) capacity.

Agricultural damage due to Kristine climbs to P3.11B
The agriculture sector sustained P3.11 billion in damage following the onslaught of Severe Tropical Storm Kristine (international name: Trami), the Department of Agriculture (DA) said. Rice was the most affected subsector, sustaining P2.87 billion in losses, accounting for 92.51 percent of the total. Most of these were in reproductive and maturity stages.

Manila to get support from FAO, World Bank for new project
The Food and Agriculture Organization of the United Nations (FAO), together with the World Bank, will implement a project in the Philippines that aims to enhance global and local health security. FAO said in a statement that the project, dubbed Resilient Philippines, is one of the 21 new projects totaling $109 million that it will implement with other institutions.

PPP deal for Laguindingan airport upgrade signed
The Philippine government on Monday greenlighted a public-private partnership (PPP) project that seeks to turn Mindanao’s second-busiest airport into an international gateway, from which it expects a 3% share in gross revenue.

EVAP not seeking to extend EV zero-tariff policy past 2028
The Electric Vehicle Association of the Philippines (EVAP) said it is not seeking to extend the current zero-tariff policy for electric vehicles (EV), which runs until 2028, citing the need to support the domestic production of EVs.

Farm chamber supports more dairy cattle imports
The Philippine Chamber of Agriculture and Food, Inc. (PCAF) said it supports efforts to expand the dairy cattle herd via imports, and cited the need to build up the industry’s capabilities in artificial insemination. PCAF President Danilo V. Fausto said: “I hope we can import more dairy animals to increase our herd and also build up our artificial insemination (AI) program,” he said by telephone.

Cebu Pacific signs purchase agreement for up to 152 aircraft order
Cebu Pacific (CEB) announces the signing of a landmark purchase agreement with Airbus and Pratt & Whitney, an RTX business, for up to 152 A321neo aircraft, equipped with Pratt & Whitney GTF engines. The agreement with Airbus covers firm orders for up to 102 A321neo, plus 50 A320neo Family purchase rights. This acquisition — which has a minimum commitment of 70 aircraft — is the largest in Philippine aviation history, valued at approximately USD 24 billion (P1.4 trillion).

PH, US Treasuries team up on climate financing
The Bureau of the Treasury (BTr) has teamed up with the United States Department of the Treasury to collaborate on more debt-for-nature and debt-for-climate arrangements to finance the country’s climate commitments. In a statement, Finance Secretary Ralph G. Recto said this is part of the efforts of the US Department of the Treasury to strengthen the country’s tax and customs administration system.

Developer calls for formation of IATF to address housing crisis
Mass housing developer Raemulan Lands, Inc. said the national and local governments must engage in a coordinated effort to address the housing crisis. On the sidelines of the EY Entrepreneur of the Year 2024 Philippines Awards Banquet, Raemulan Group Executive Officer Jacinto Ng, Jr. said the issue has already been declared a crisis.

PUV co-op loan freeze not affecting DBP credit growth
A decision by the Development Bank of the Philippines (DBP) to suspend lending to some public utility vehicle (PUV) cooperatives is not expected to substantially affect loan growth this year, it said.

Attractiveness of PHL to be tested by Taiwan supply chain de-risking
The Philippines can leverage its free trade agreements (FTAs) and proximity to Taiwan to attract multinational companies (MNCs) looking to de-risk global supply chain away from greater China, the Philippine Economic Zone Authority (PEZA) said.

NUSTAR aims to catapult Cebu as top gaming destination in Southeast Asia
Gokongwei-led NUSTAR Resort and Casino wants to lure gaming enthusiasts and tourists from the Visayas, Mindanao as well as neighboring Southeast Asian countries to elevate the province of Cebu as a top-of-mind luxury lifestyle hub.

Dagohoy Solar project successfully connected to Bohol grid
PetroGreen Energy Corp. (PGEC), the energy arm of Yuchengco-led PetroEnergy Resources Corp. (PERC), announced that its 27-megawatt (MWp) Dagohoy Solar Power Project has been linked to Bohol’s grid.

PSE may hit ₱140B-₱150B in capital raising next year
The Philippine Stock Exchange (PSE) Inc., the operator of the country’s equities market, said it may reach capital raising done with the bourse to hit between P140 billion to P150 billion next year due to some blockbuster deals. PSE President and CEO Ramon S. Monzon said there were three to four major initial public offerings (IPOs) by next year “and also some small and medium ones.”

San Miguel unit takes over Sual coal-fired plant in Pangasinan
Sual Power, INC. (SPI) has taken over the 1,200-megawatt (MW) Sual Coal-Fired Thermal Power Plant in Pangasinan province after the contract between TeaM Energy Corp. and the government expired. The power plant, the largest coal-fired power plant in the Philippines in terms of installed capacity, has been providing power to the Luzon grid since 1999 under a 25-year build-operate-transfer scheme that ended this year.

Toyota targets 50% EV fleet by 2040
In a move towards sustainable transportation, Toyota Motor Philippines has unveiled its latest hydrogen-powered vehicle, contributing to the government's goal of increasing the fleet of electric vehicles (EVs) in the market by 2040.

Globe partners with Singapore-based firm to enhance 4G, 5G networks
Ayala-led Globe Telecom Inc. joined forces with Singapore-based Transcelestial Technologies Pte Ltd. to deploy a laser communications system that would expand its 4G and 5G connectivity in the country.

SEC enhances sustainability reporting process
The Securities and Exchange Commission (SEC) aims to enhance the submission of sustainability reports by publicly listed companies (PLCs) through a partnership with climate data and analytics software company, Komunidad Global Services & Operations Philippines Inc.

‘PHL milk output will breach 30,000-MT mark’
The Philippines will end 2024 with a higher milk production due to the expansion of its dairy herd, the United States Department of Agriculture (USDA) said in its latest report. “Production will recover at the level of 32,000 MT [metric tons] in 2024 attributed to the increasing number of dairy animals,” its report read.

Push for US-Philippine FTA gains momentum as trilateral cooperation with Japan expands
The Philippines, the United States, and Japan have further enhanced their economic cooperation by promoting resiliency amid pressing global trade challenges. In a related development, American agricultural producers have expressed hopes that Manila and Washington could forge a free trade agreement (FTA) in a bid to boost bilateral goods trade and better compete with other exporters that are enjoying preferential treatment or lower import duties, hence more competitive prices when selling to Filipino consumers with rising incomes.

IMF: Inflation risks still tilted to upside
The International Monetary Fund (IMF) said that upside risks to the outlook for Philippine headline inflation still persist. Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. earlier said that the balance of risks to the inflation outlook for next year until 2026 has shifted to the upside, due to expectations of higher electricity rates and minimum wages.

PHL aims to be in top 20% in World Bank’s Business Ready report
The Philippines is hoping to be included among the top 20% of the countries assessed by the World Bank for its Business Ready (B-READY) report by 2026, the Anti-Red Tape Authority (ARTA) said. The B-READY report assesses the business and investment climate by considering three pillars: regulatory framework, public services, and operation efficiency.

PHL score drops in Labor Rights Index
The Philippines’ score in the global Labor Rights Index worsened this year, largely due to an environment that restricts unions, strikes, and collective bargaining deals. The biennial report showed that the country maintained its 2022 scores in nine of the 10 indicators in the study, except for Freedom of Association, where it scored zero out of 100.

Meralco to exceed P43-B profit target — Pangilinan
Power Distributor Manila Electric Co. (Meralco) expects to surpass its P43-billion profit target for the year, according to its chairman. For the third quarter, Meralco saw its consolidated core net income (CCNI) increase by 10% to P11.89 billion from P10.82 billion last year, driven by strong distribution and power generation businesses.

Treasury bill yields rise on less dovish policy bets
The Government fully awarded the Treasury bills (T-bills) it offered on Monday even as rates were higher across all tenors to track the continued upward correction in secondary market yields amid mixed expectations of further monetary easing here and in the United States.

Korean chamber names curbs on land ownership as key investor concern
The lifting of foreign ownership restrictions on land will help attract more South Korean investors to the Philippines, the Korean Chamber of Commerce Philippines (KCCP) said. The House of Representatives approved a proposal to lift foreign ownership limits in the Constitution. However, it only covers the liberalization of ownership in public utilities, education and advertising.

Unresolved flood problems deemed obstacle to reaching upper middle-income status
The Philippines may find it difficult to graduate to upper middle-income status if the government does not solve the problem of flooding, GlobalSource Partners said. The Philippines remained a lower middle-income country with a GNI per capita of $4,230 in 2023, according to the World Bank’s income classification standards. It has remained a lower middle-income economy since 1987.

Corn, cassava targeted for yield enhancement
The Department of Agriculture (DA) said on Monday that it is planning to increase the yields of corn and cassava crops to a level sufficient to meet at least 81% of domestic demand. To increase corn production, the department is pursuing the Corn Production Enhancement Project and allocating P5.32 billion for the said project.

SEC: Digitalization supports PHL bid to exit ‘gray list’
The Securities and Exchange Commission (SEC) said its digitalization efforts are being undertaken in support of the Philippines’ bid to exit the Financial Action Task Force’s (FATF) “gray list,” which could happen by next year.

ARTA: PH among pilot economies for new World Bank business report
The Philippines has been chosen as one of the 50 economies to participate in the World Bank’s new Business Ready Report. Perez added that ARTA plans to establish technical working groups across ten priority sectors, including business startups and labor policies.

No fee hikes at northern Mindanao airport sans upgrades – DOTr chief
Airport maintenance concessionaires must first undertake upgrades in the infrastructure of Laguindingan International Airport (LAI) in Misamis Oriental to justify higher fees that may be borne by passengers, Department of Transportation (DOTr) Secretary Jaime Bautista said on Monday.

EV sales in PH seen growing by 10% in 2024
A trade association of car manufacturers and sellers said that local sales of electric vehicles (EV) in 2024 is expected to surpass last year by at a tenth, drawing optimism that the government’s vehicle modernization efforts will drive the growth.

DOTr sets privatization of 7 to 15 more airports
With the signing of the new template for Public-Private Partnership (PPP) agreement for the Laguindingan International Airport (LIA) last Monday, President Marcos said similar initiatives to enhance other local airports will be fast-tracked.

DA keen on food monitoring system of FMC Research
The Bureau of Plant Industry (BPI), an attached agency of the Department of Agriculture (DA), has partnered with regulatory technology firm FMC Research Solutions Inc. to improve the safety and quality of imported agricultural products.

PHL, Lao PDR keen on setting up rice gene bank
The Philippines and Lao People’s Democratic Republic (PDR) are looking at establishing a joint genetic bank for rice development in their bid to promote innovation in crop cultivation.

Tight import rules may curb fish supply–PCC
The Philippine Competition Commission’s (PCC) competition impact assessment (CIA) team has found that “stringent” importation requirements for certain species of fish could result in reduced supply, limited choices for consumers and an uneven playing field in favor of institutional buyers.

Filsystems secures deal for coal exploration in Lanao del Sur
Filipinas Systems Inc. (FSI) has committed to invest some P19 million in coal exploration activities in Lanao del Sur after it bagged the first coal operating contract (COC) for a pre-determined area (PDA) in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).

US tech giants express worry over Philippine digital tax, regulatory landscape
US-based tech giants are worried that the 12-percent value-added tax (VAT) to be collected from digital services providers (DSPs), plus more stringent rules on internet transactions under two new Philippine laws, could make it harder for global firms to operate here.

Foreign debt service drops 7.6% as principal payments decline
Philippines’ external debt service burden declined by 7.6 percent as of end-July to $7.693 billion versus $8.329 billion in the same period last year, based on Bangko Sentral ng Pilipinas (BSP) data.