Marcos administration adjusts economic view amid uncertainties
The Development Budget Coordination Committee revised its gross domestic product (GDP) growth target for 2024 to 6 to 6.5 percent, from the previous goal of 6 to 7 percent.

PHL eyes investment mission blitz after create more I.R.R.
Philippine government officials are eyeing to do more investment missions to the United States, Japan, South Korea and the European Union once the implementing rules and regulations of Create More are finalized by February 2025, according to the OSAPIEA.

AMRO cuts Philippine growth outlook amid slowing consumption
In its latest Annual Consultation Report, AMRO cut its GDP growth projection for the Philippines to 5.8% this year, below the government 6-6.5% growth target for 2024.

PH leads ASEAN in manufacturing index in November
The Philippines recorded the highest manufacturing purchasing managers index among Southeast Asian countries in November 2024, S&P Global reported. It added that the higher demand for Philippine-made products has driven growth in purchasing activity, inventory, output, new sales, and hiring.

Arta expands partnerships to promote responsible mining in PH
The Anti-Red Tape Authority (Arta) has expanded the agreement it had with several government and nongovernment agencies to promote responsible mining, enlisting more partners and extending the effectiveness of the agreement by two more years.

ERC: EPIRA amendments could bring down power costs
The proposed changes to the EPIRA could deliver the long-awaited solution to soaring electricity costs, according to the country’s power regulator. These changes include restructuring of its governing board and an emergency power to respond to calamities without needing a quorum.

Inflation picked up in Nov. — poll
Headline inflation may have picked up in November as prices of key food items rose due to the impact of several typhoons, analysts said. A BusinessWorld poll of 15 analysts conducted last week yielded a median estimate of 2.5% for the November consumer price index (CPI), within the central bank’s 2.2% to 3% forecast for the month.

House committee approves tax perks section of decarbonization measure
A House of Representative committee approved on Monday the tax incentive package contained in a bill seeking to regulate the low-carbon economy. The House ways and means committee approved the provision granting companies developing “innovative technologies” that reduce greenhouse gas emissions to enjoy income tax holidays and deductions on R&D expenses.

Hot money outflows reach $529.7 million in October — central bank data
More short-term foreign investments flowed out of the Philippines than what entered in October, data from the BSP showed. According to Chief Economist Michael L. Ricafort, more hot money exited the country as geopolitical risks in the Middle East triggered profit taking in global and local markets.

Countries fail to reach agreement in UN plastic talks
Countries negotiating a global treaty to curb plastic pollution failed to reach agreement on Monday, with more than 100 nations wanting to cap production while a handful of oil-producers were prepared only to target plastic waste.

PHL-UAE energy deal taking effect in January
THE Department of Energy (DoE) said it and a United Arab Emirates (UAE) state-owned firm are set to operationalize their energy collaboration agreement in January. In a statement on Sunday, Energy Secretary Raphael P.M. Lotilla said the memorandum of understanding (MoU) on energy transition cooperation was among the deals signed during the working visit of the President to UAE last month.

Landowners along Subic-Clark rail line get TCTs
THE Bases Conversion and Development Authority (BCDA) has distributed transfer certificates of title (TCTs) to the landowners affected by the implementation of the Subic-Clark-Manila-Batangas (SCMB) railway project. In a statement issued over the weekend, BCDA said that it has distributed a total of 68 TCTs to at least 43 landowners in Pampanga.

World Bank-Philippine partnership framework due in early 2025
The World Bank said it is close to completing the new country partnership framework (CPF) for the Philippines, which is due by the first half of 2025. The CPF, which covers 2025-2028 will identify key objectives, results, and programs it intends to support in the Philippines, with the broader aim of spreading prosperity and reducing poverty.

NEDA says 2024 growth target ‘still achievable’
The Philippines can still achieve its 6-7% gross domestic product (GDP) growth target this year, National Economic and Development Authority Secretary Arsenio M. Balisacan. Balisacan said fourth quarter GDP growth will likely be faster than the third quarter, amid easing inflation and lower interest rates.

Improved OTP at NAIA
A recent report released by the New NAIA Infra Corp. (NNIC), the private sector consortium that took over the management and operations of the Ninoy Aquino International Airport (NAIA), revealed interesting findings on the cause of flight delays in the country’s premier gateway. Particularly, the report showed that 70% of the delays were due to ground handlers, 20% attributed to the CAAP/ATC, and 10% to airport infrastructure.

PHL seizing low-rate loan options as it nears UMIC
The government is taking advantage of all the financing windows at its disposal, including long-term loans that bear concessional rates, as the country inches toward upper middle income country (UMIC) status. However, Socioeconomic Planning Secretary Arsenio M. Balicasan said that development partners assured them of other financing options for UMCIs with similar concessions enjoyed by lower middle income countries (LMICs).

Local MSMEs join food and beverage expo in Paris
The Department of Trade and Industry (DTI) spearheaded the participation of eight Philippine micro, small and medium-sized enterprises (MSMEs) specializing in exporting premium coconut products at the Salon International de l’Alimentation (SIAL) Paris 2024 as part of the DTI-led project ARISE Plus Philippines.

SMC Tollways now with AI-enabled license plate-recognition cameras, ready for barrier-less expressways
SMC Infrastructure said it has completed fitting all its active toll gates with artificial intelligence (AI)-enabled automatic license plate recognition (ALPR) cameras, which will pave the way for barrier-less toll plazas across its expressway network.

Thailand open to PH collab as ‘two states, one dive destination’
Thailand is open to the idea of forging collaboration with the Philippines to boost the two nations’ dive destinations under the “two-countries, one destination” concept. The envoy said collaboration with private stakeholders, including airlines and local tour operators, is another crucial element.

Palace order implementing S. Korea FTA expected soon
Exporters shipping to South Korea could avail of new tariff arrangements as early as this month following the expected completion of the entry into force requirements of the Philippine-Korean free trade agreement (FTA), the Department of Trade and Industry said.

PEZA investment approvals top P200 billion in first 11 months
THE Philippine Economic Zone Authority (PEZA) said it approved P201.551 billion worth of investment applications in the first 11 months, surpassing the agency’s target for the full year.

IDC Prime, Dusit to develop 2 upscale hotels in Mindanao
IDC Prime, Inc., a subsidiary of real estate developer Italpinas Development Corp., has partnered with Thai hospitality group Dusit International to develop two new upscale hotels in Northern Mindanao.

DA rural development plan now has cold storage, abattoir infra
The Department of Agriculture (DA) wants to expand farm infrastructure to include cold storages and slaughterhouses under its Philippine Rural Development Project (PRDP) scale-up program.

Prime Infra, DENR ink pact for UMRBPL
Prime Infra has signed a tripartite agreement with the Department of Environment and Natural Resources (DENR) and the provincial government of Rizal for the rehabilitation and sustainable management of the Upper Marikina River Basin Protected Landscape (UMRBPL).

Megaworld invests P5B in 35th township in CdO
Megaworld Corp. is expanding its portfolio to 35 townships as it starts the development of The Upper Central integrated lifestyle community in Cagayan de Oro City. These townships will feature a central park, landscaped open spaces, viewing decks, and other green and open spaces.

Rehab, upgrade bids sought for ports in Catanduanes, Negros Occidental
At least two more port upgrade and rehabilitation contracts will go up for auction by year’s end, according to the Philippine Ports Authority (PPA). The PPA master plan aims to improve cargo movement and meet the increasing demand for port services by upgrading existing ports and creating new ones.