ECCP at Work

No suspension of Metro Manila minimum wage hike, says Palace

The P85 minimum wage increase for daily minimum wage earners in Metro Manila will proceed despite calls from the private sector to suspend its implementation. Palace Press Officer Claire Castro said Tuesday, July 21, that Malacañang will not issue a suspension order ahead of the first tranche of the wage increase on July 25.

BSP tightens controls over casino junkets

The Bangko Sentral ng Pilipinas (BSP) has called on banks and other supervised financial institutions to tighten controls over casino junket operators after a review found that cash, checks, shell companies and layered transactions continued to make illicit fund flows difficult to detect.

BOP surplus widens to $3.4 billion in June

The Philippines posted a balance of payments surplus amounting to $3.4 billion in June, the largest in nearly two years, as government foreign borrowing and lower global oil prices helped strengthen the country’s external position.

Filipinos cut spending as inflation strains household budgets – survey 

TransUnion’s Consumer Pulse Study for the second quarter showed 74 percent of consumers remained optimistic about their household finances over the next 12 months, down from 77 percent a year earlier. Expectations for future income, however, remained resilient. Seventy-four percent expected their earnings to increase over the coming year, slightly higher than the 73 percent recorded in the second quarter of 2025.

Peso nears record low as dollar, oil prices rise

The local currency shed 5.9 centavos to close at P61.745 against the dollar from P61.686 on Monday, according to Bankers Association of the Philippines data. It traded between P61.68 and P61.75 after opening at P61.69. The intraday high matched the record-low level reached on April 30.

$3.4-B BOP June surplus comes amid new jitters

The stronger external position of the Philippines in June comes at a crucial time as tensions in the Middle East continue to create risks to oil prices, inflation and global financial markets, according to local experts. In separate commentaries, some analysts highlighted the importance of the country’s balance of payments (BOP) surplus hitting the highest in 21 months after a six-month shortfall, as this would help cushion the economy against external shocks, especially amid a still-uncertain global environment.

‘Reliance on imported fuel, top PHL risk’

The biggest hurdle that the Philippines faces right now is not driven by politics but its exposure to imported fuel, which has stunted the country’s progress over the years, according to Citi Philippines. “Let’s not forget that the biggest challenge for the country right now is not even driven by politics. It’s really external unfortunately because of our exposure to imported fuels,” Citi Philippines CEO and Banking Head Paul Favila told reporters.

Seipi seeks all sector cooperation to enhance power reliability in Visayas

The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) is calling for continued public-private collaboration to enhance power reliability in the Visayas. Seipi made the statement after several of its member companies operating in the Visayas experienced recurring power interruptions and rotational load dropping in recent months.

Cordillera inflation slows in June on lower gas prices

Inflation in the summer capital and the rest of mountainous Cordillera again slowed down in June, sustaining a substantial drop in inflation back in May, due to the gradual decline in gas prices when a ceasefire and peace talks between the United States and Iran were still in place, the region’s chief statistician reported at a Friday (July 17) economic briefing. 

Baguio inflation grew more slowly at 6.7 percent last month from 7 percent in May, while the Cordillera provinces of Benguet, Ifugao, Abra, Apayao, Kalinga and Mountain Province and this mountain city combined recorded a 6.5 percent inflation rate in June, down from 6.8 percent in May, said Aldrin Federico Bahit Jr, Cordillera senior statistician of the Philippine Statistics Authority. 

South China Sea rivalry looms over Asean meeting

A clash in the South China Sea threatened to overshadow a meeting of Southeast Asian nations Tuesday as the United States condemned “dangerous” Chinese actions in the contested waterway.

The US statement came minutes after Secretary of State Marco Rubio arrived in the Philippines, where the 11-member Association of Southeast Asian Nations (Asean) is expected to tackle issues including civil war-torn Myanmar’s ongoing pariah status.

48 power providers in PH charge above average residential power rate

Forty-eight distribution utilities (DUs), or local energy providers in the Philippines, charge consumers higher electricity rates than the record-high national average rate of P12.43 per kilowatt-hour (kWh) in June, according to a study by an energy advocacy group.

Upgraded Philippines still trails ASEAN peers in investor confidence

The Philippines has finally moved into the upper-middle-income bracket, but global investors are still ranking it behind several of its Southeast Asian neighbors. That gap showed up in Kearney's 2026 Foreign Direct Investment Confidence Index, where the Philippines slipped in the emerging-market rankings and trailed Thailand, Malaysia, Indonesia and Vietnam.

DICT sees up to P40B yearly savings from unified government IT systems

DICT Undersecretary for E-Government David Almirol said the projected savings would come from implementing the E-Governance Act, or Republic Act No. 12258, which seeks to standardize government digital systems and prevent agencies from separately developing applications with similar functions.

DA holds fish imports until closed season

The Department of Agriculture will hold off the entry of up to 250,000 metric tons of frozen fish until the closed fishing season to avoid depressing local prices and to cushion any supply disruption from El Niño. Agriculture Secretary Francisco Tiu Laurel Jr. said the imports could be activated by October or November, when seasonal fishing restrictions begin in several parts of the country.

PAL signs Rolls-Royce engine deal for expanded A350 fleet

Philippine Airlines (PAL) has signed a memorandum of understanding with aircraft engine maker Rolls-Royce for Trent XWB-97 engines to power nine additional Airbus A350-1000 aircraft as the flag carrier advances its long-haul fleet expansion.

Twin inflation shocks, growth woes test BSP’s policy credibility

The Bangko Sentral ng Pilipinas (BSP) might remain cautious as a growth slowdown amid mounting inflation risks from a volatility-driven peso depreciation and record-high wage hike tests its credibility, GlobalSource Partners said.

Shares rebound on bargain hunting

Investors went on bargain-hunting mode yesterday to power the local stock market to a win after a two-day decline. The bellwether Philippine Stock Exchange index (PSEi) advanced by 0.24 percent or 15.27 points, finishing the session at 6,283.12. The broader All Shares index also improved by 0.17 percent or 5.72 points to end at 3,427.07.

Sales of xEVs more than double, close in on passenger cars in H1

While total car sales in the first half fell by 11 percent year-on-year, demand for electrified vehicles (xEVs) more than doubled during the period, industry data showed. A joint report from the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) showed that they sold a total of 204,557 vehicles in six months, down from 230,912 units sold in the same period last year.

Ocean economy’s share in GDP slips to 4-year low

Ocean-based industries’ contribution to the Philippine economy dropped to a four-year low in 2025, weighed down by a decline in fishery production amid softer global trade, weather disruptions and higher operating costs, analysts said.