ECCP at Work

Philippine peso closes at record low of 63.06 per dollar

Economists cited stronger-than-expected U.S. inflation, expectations that the Federal Reserve may keep rates high, elevated oil prices and geopolitical uncertainty as factors supporting the dollar. Analysts also pointed to domestic inflation and weaker investment inflows.

Philippine cash remittances rise 1.9% to $3.035 billion in August

The BSP projects cash remittances will grow 2.7% in 2026 to $36.6 billion. Economists said the usual seasonal increase in transfers before Christmas could boost fourth-quarter remittances.

BSP: Philippines’ twin deficits to persist on oil shocks

The Bangko Sentral ng Pilipinas (BSP) now expects the country’s BoP position, which reflects its economic transactions with other nations, to end at a $9.2-billion deficit or -1.8% of gross domestic product (GDP) this year.

SSS chief is new interim DICT secretary

President Marcos has appointed Social Security System (SSS) president and chief executive officer Robert Joseph de Claro as the new secretary of the Department of Information and Communications Technology (DICT).

UPS expands Clark cargo capacity ninefold to support Asian trade

United Parcel Service, Inc. (UPS) has increased its cargo handling capacity at Clark International Airport more than ninefold with the opening of an $80-million international air hub, as the logistics company seeks to strengthen the Philippines’ connections to regional and global trade networks.

Philippines’ FDI net inflows hit six-month high in July

FOREIGN DIRECT INVESTMENT (FDI) net inflows into the Philippines reached a six-month high in July despite falling by more than 40% year on year amid global uncertainty, preliminary Bangko Sentral ng Pilipinas (BSP) data showed.

DoF urges ASEAN, WB to collaborate in packaging investable infra, AI projects

FINANCE SECRETARY Frederick D. Go said Southeast Asian economies need to mobilize more private capital for infrastructure, artificial intelligence (AI) and clean energy to drive growth and create better-paying jobs.

WB agrees to compress timeline for PHL financing

“The DoF and the World Bank agreed to collaborate in shortening the processing timelines between the two institutions, to hasten financing support for development projects in the country,” the DoF said in a social media post on Thursday.

SBMA eyes Japanese logistics hub

The Subic Bay Metropolitan Authority (SBMA) is wooing one of the largest logistics companies in Japan to establish a logistics and distribution center in this free port and take advantage of Subic’s growing importance as a strategic maritime gateway. 

PHL, Japan strengthen security ties

THE Philippines and Japan underscored their deepening security alliance following a high-level telephone discussion between National Security Advisor Eduardo Oban Jr. and his Japanese counterpart, Keiichi Ichikawa, head of Japan’s National Security Secretariat.

BIR:  Drug makers must share in SC discounts
PHARMACEUTICAL retailers, manufacturers, distributors and wholesalers will have to share the cost of the mandatory 20-percent discount on medicines for senior citizens with retail drugstores, according to the Bureau of Internal Revenue (BIR). BIR issued Revenue Regulations (RR) No. 007-2026

ERC removes capacity limits for power plants to boost electricity supply

POWER GENERATORS can now build larger power plants after the Energy Regulatory Commission (ERC) removed capacity limits to boost electricity supply, encourage investments and foster greater competition.

Napocor seeks higher power surcharge to fund off-grid areas

STATE-RUN National Power Corp. (Napocor) is seeking regulatory approval to collect an additional P10.82 billion from on-grid electricity consumers to cover subsidy obligations to power providers serving off-grid areas.

NBB eyes E15 gasoline blend increase

THE National Biofuels Board (NBB) is considering raising the bioethanol blend in gasoline to 15 percent from the current 10 percent, a Department of Energy (DOE) official said. “At an E15 blend, many manufacturers are already on board, confirming that it is safe to use and will not void vehicle warranties.

PSA: Palay production may plunge to 7-year low in Q3

The country’s palay, or unmilled rice, production in the third quarter is projected to decline by about 650,000 metric tons (MT) as the local harvest area continues to shrink, according to the Philippine Statistics Authority (PSA). 

Philippines to see sluggish growth, rise in unemployment this year, says IMF

THE PHILIPPINES could post the fifth-slowest growth in Southeast Asia this year as weak investment and elevated inflation weigh on economic activity, while unemployment is expected to rise more than previously forecast, the International Monetary Fund (IMF) said.

House approves Cebu Pacific’s 50-year franchise renewal bill

THE House of Representatives on Monday approved on third and final reading a bill seeking to renew the legislative franchise of Cebu Air, Inc., which operates as Cebu Pacific, for another 50 years.

Marcos recognizes new Bangsamoro majority coalition

PRESIDENT Ferdinand Marcos Jr. on Wednesday acknowledged the formation of a 46-member majority coalition in the Bangsamoro Parliament, paving the way for the establishment of a new regional government following last month’s parliamentary elections.

Trump to visit Manila in November for ASEAN summit

United States President ‌Donald Trump will visit Manila in ⁠November to attend the ASEAN regional summit, the office of ‌Philippine ⁠President Ferdinand Marcos Jr. said ⁠on Wednesday.