PH is now VAT-free for foreign tourists
The Philippines is now value-added tax (VAT) -free for foreign tourists with the recent signing of the implementing rules and regulations (IRR) for Republic Act No. 12079, or the VAT Refund for Non-Resident Tourists.

PEZA releases guidelines for pharmazone development
The PEZA has issued the guidelines for the registration of pharmaceutical economic zones or pharmazones, in line with the agency’s push to attract medical and drug manufacturing-related investments in the country with the aim of making medicines more affordable to the public.

PHL gross borrowings inch up to P213B in Jan.
The National Government’s (NG) gross borrowings inched up in January amid a rise in domestic debt, the Bureau of the Treasury (BTr) said.

Transportation safety bill pushed amid spike in road mishaps
Senator Grace Poe on Friday renewed her call to urgently pass the transportation safety bill amid the rising cases of road mishaps. Poe said that the alarming incidents should prompt the government to implement measures to address the concerns.

Philippines to complete national risk assessment this year – AMLC
The Philippines is set to complete its latest National Risk Assessment (NRA) this year, a crucial measure in ensuring the country remains off the Financial Action Task Force (FATF) gray list following its exit in February.

OSAPIEA says pace of reforms picking up
The Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said the swift signing of the implementing rules and regulations (IRR) of the value-added tax (VAT) refund for foreign tourists highlights the speed of recent economic reforms.

FDA expands list of VAT-exempt meds for non-communicable diseases
The Food and Drug Administration (FDA) has expanded the list of medicines for non-communicable diseases (NCDs) exempted from value-added tax (VAT).

CARS 2.0 faces delays
The government’s new incentives program for automotive manufacturers would be delayed as rules for the P9-billion initiative were not yet ready.

Gov’t to review rice tariffs ahead of harvest season
The government is reviewing the lower tariffs on imported rice ahead of the local harvest season next month, according to the presidential palace.

External debt service burden rises to $17.2 billion in 2024 — BSP data
The country’s external debt service burden jumped to $17.16 billion in 2024, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).

Gov't, private sector developing PH Climate Finance Strategy
The Department of Finance (DOF), in collaboration with other government agencies and the private sector, is currently developing the Climate Finance Strategy (CFS) to help finance climate priorities, support active membership in the global multilateral funds, and scale up sustainable finance efforts through the Inter-Agency Task Force on Sustainable Finance (ITSF).

Semicon/electronics group raises industry issues before DTI
The Semiconductor and Electronics Industries of the Philippines Foundation Inc. (SEIPI) has raised before the Department of Trade and Industry (DTI) the challenges faced by the sector: a looming wage increase, additional tax, as well as high logistics costs.

Exporters group seeks more government support
The country’s umbrella group of exporters is pushing for stronger government support with export performance expected to fall below target this year.

DICT 'fully committed' to new chief
The Department of Information and Communications Technology (DICT) welcomed the appointment of Secretary Henry Rhoel Aguda by President Ferdinand R. Marcos on Thursday.

MRT-3 operations extended by an hour
Starting today, operations of Metro Rail Transit Line 3 (MRT) 3 are extended by an hour in the evening—from Monday to Friday—to accommodate more passengers.

End to lease fees on broadband connectivity equipment sought
Consumer advocacy group CitizenWatch Philippines is urging lawmakers to eliminate lease requirements for broadband connectivity equipment, calling the current practice a major barrier to universal internet access.

PH becoming preferred hub of firms relocating from China – PEZA
The Philippines is becoming the new preferred destination in Southeast Asia for expansion of companies with presence in China, Philippine Economic Zone Authority (PEZA) Director General Tereso Panga said.

Marcos vows to finish Cavite-Laguna tollway
President Ferdinand Marcos Jr. on Friday vowed that the Cavite-Laguna Expressway (CALAx) will be completed on time as part of the government’s efforts to improve transportation and road infrastructure in the country.

PNOC eyes offshore wind port in Batangas
State-run Philippine National Oil Co. (PNOC) is planning to construct an integrated port in Batangas this year to bolster the country’s offshore wind development (OSW).

Financial system resources hit P33.6 trillion
The total resources of the country’s financial system grew by almost eight percent as of end-January amid continued asset expansion in bank and non-bank financial institutions, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

BIR eyes P338 billion from excise taxes
The Bureau of Internal Revenue (BIR) targets to collect higher excise taxes of up to P338 billion this year as the government moves to improve the regulatory environment and continues to address illicit trade.

Federal Reserve pause may delay further BSP easing — analysts
The US Federal Reserve’s latest pause and cautious stance could push the Bangko Sentral ng Pilipinas (BSP) to delay its own easing cycle, analysts said.

S&P sees BSP cutting rates by 100 bps this year
Central banks in the Asia-Pacific including the Bangko Sentral ng Pilipinas (BSP) are expected to cut rates further this year, S&P Global Ratings said.

Services to buoy PH exports amid challenging trade in goods
Services sector will keep the country's export revenues afloat despite the challenging performance of outbound shipment of goods, a senior trade official said Monday.

Angara backs DepEd’s procurement reforms; launches Suppliers’ Registry
The Department of Education (DepEd) is advancing its procurement reforms and ensuring the integrity of its bidding process, according to its chief, Sec. Eduardo “Sonny” Angara.

Building permit approvals continued to fall in January
Approved building permits continued to decline by record double digits in January, the Philippine Statistics Authority (PSA) reported. The PSA, citing preliminary data, said building projects covered by the permits numbered 12,526 in January, contracting by 14.6% from 14,665 a year earlier.

Sari-sari store activity up 32% in 2024
Sari-sari store activity picked up in 2024 from a year ago, fueled by growth in the regions, according to technology startup Packworks. In a statement, Packworks said that 175,000 stores actively transacted through its Sari.PH Pro app last year, 32 percent higher than the 133,000 stores in 2023.

WB lends $67.34M for PH civil service
The World Bank (WB) on Saturday approved a $67.34 million loan for the Philippines to fund the modernization of the civil service.

2 rural banks merge as industry consolidation continues
Two more rural banks have merged as part of ongoing efforts to strengthen the financial sector, with the Bangko Sentral ng Pilipinas (BSP) continuing to promote consolidation for improved risk management.

Peso may consolidate vs dollar as markets wait for Trump tariff details
The peso may continue consolidating against the dollar this week as the market waits for fresh leads, with the Trump administration’s policies remaining in focus.

PPA to cancel Camarines Norte port auction
The Philippine Ports Authority (PPA) will recommend the cancellation of the Jose Panganiban, Camarines Norte port improvement project auction, citing a possible change of location and project design.

Tourist arrivals in Eastern Visayas generate over P39 billion in 2024
At least 1.6 million tourists visited Eastern Visayas last year and its contribution to the economy cannot be underestimated.

EOS enlists Philippine partners for “new era of nuclear science”
American energy solutions provider EOS Organization seeks to advance nuclear energy development in the Philippines by bringing multiple educational and research institutions into the loop.

Insurance Commission wants review of HMO jurisdiction
The Insurance Commission (IC) is pushing for the review of the health maintenance organization (HMO) sector’s jurisdiction, nearly 10 years after it was placed under its care.

More women getting top roles in PH-listed firms
Women are getting more opportunities to serve in top management positions and on boards of local publicly listed firms, with the number of seats held by women in executive leadership teams (ELTs) increasing to 40 percent of available positions in 2022.

P3.3 million equipment to cut Apayao farmers’ production costs
The provincial government of Apayao on Friday said the assistance recently provided by the Department of Agrarian Reform (DAR) to farmers will help cut the cost of crop production and ensure higher gains.

Vietnam rice waste levels set as benchmark for PHL 
Post-harvest rice losses are expected to decline by at least nine percentage points following a ₱10-billion investment in upgrades to rice storage facilities, the Department of Agriculture said. About 17% of the rice harvest is lost annually, against 8% for Vietnam, Agriculture Assistant Undersecretary Arnel V. De Mesa told BusinessWorld.

Japan zero-tariff deals eroding PHL banana competitiveness
The zero-tariff arrangements enjoyed by other banana suppliers to Japan are eroding the competitiveness of Philippine growers, whose rates were set in 2006, officials said.

BIR calls 2025 targets achievable, sees CREATE MORE downside risks
The Bureau of Internal Revenue (BIR) remains confident that it will meet its collection goal for major tax categories in 2025. However, the new law lowering corporate income tax rates for certain foreign enterprises poses a negative risk to collections, it added.

Gov’t borrowed more locally in Jan, up 5%
Gross borrowings of the Marcos administration grew by 5 percent in January, driven by higher domestic financing as elevated global interest rates and a strong dollar curbed the government’s appetite for foreign debts.

IC eyes measures to improve HMO regulation
The Insurance Commission (IC) is pushing for measures to further regulate the health maintenance organization (HMO) sector to strengthen healthcare in the country, including a law covering the industry and possibly transferring its oversight or jointly regulating it with another agency, its top official said.

Debt yields inch down as mart stays cautious
Yields on government securities (GS) edged lower last week due to cautiousness before the US Federal Reserve’s policy decision and with the market awaiting key events at home, including the Bangko Sentral ng Pilipinas’ (BSP) own review and the release of March inflation data.

New DICT chief urged to boost data breach management, digital infra
Newly appointed Department of Information and Communications Technology (DICT) Secretary Henry Rhoel R. Aguda should prioritize boosting state transparency in handling data breaches affecting government agencies, according to a network of digital advocates.

Philex gets foreign partner for Silangan
Philex Mining Corp. has found a foreign investor for the Silangan mine project in Surigao del Norte province ahead of its much-awaited commercial operations next year.

D&L mulling over a second biodiesel plant
The chemical manufacturing unit of D&L Industries Inc. is looking at building a second biodiesel plant months before the implementation of a government directive mandating a higher blend, saying that they had room for additional spending.

DA: Pork max SRP violators face NBI, PNP probes
The government may tap the services of the National Bureau of Investigation (NBI) and Philippine National Police (PNP) to go after violators of the maximum suggested retail price (SRP) for pork products amid the measly 25 percent compliance, the Department of Agriculture (DA) said yesterday.

DA: Cheap rice program beneficiaries may buy 30 kilos
The Department of Agriculture (DA) has increased the monthly allocation for the beneficiaries of its cheaper rice program to 30 kilos.The DA said vulnerable sectors under its program could now purchase up to 30 kilos of rice every month from the previous allocation of 10 kilos. Agriculture Secretary Francisco Tiu Laurel Jr. said the new policy would be implemented nationwide immediately. The P29 rice is sold at Kadiwa stores and centers.

PHL, Japan ink ₱65-B loan deals
The Philippines has secured ₱65.43 billion worth of loans from Japan to fund big-ticket infrastructure projects such as a four-lane bypass road in Davao City and two major flood control projects in Metro Manila.

Peso edges up before key US data
The peso inched higher against the dollar on Monday as market players preferred to stay on the sidelines before the release of key US economic data and as they await details on the Trump administration’s planned reciprocal tariffs.

Tourist VAT refund law touted for multiplier effect
Finance Secretary Ralph G. Recto said the law offering value-added tax (VAT) refunds for tourists will have a multiplier effect on the economy equivalent to nearly double actual visitor spending.

EDC to release downgraded export targets next month
The Export Development Council (EDC) said it is hoping to release downgraded targets for the Philippine Export Development Plan (PEDP) next month.