The Department of Energy (DOE) and the Japan International Cooperation Agency (JICA) have joined forces to help accelerate the Philippines’ clean energy transition through a three-year technical cooperation project focused on hydropower development. In a statement released last week, the DOE announced that outgoing Secretary Raphael Lotilla and JICA Chief Representative Baba Takashi formalized the partnership by signing the Records …

The Philippine Economic Zone Authority (PEZA) has partnered with LIMA Infrastructure Inc. to enhance investor services and fast-track ecozone development, formalizing the collaboration through a memorandum of understanding (MOU) signed recently. PEZA Director General Tereso Panga and Aboitiz InfraCapital Economic Estates President Rafael Fernandez de Mesa led the signing, marking LIMA’s designation as the latest Investment Promotion Partner (IPP). LIMA …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. welcomed the European Commission’s (EC) recent decision to delist the Philippines from its high-risk countries list for financial crime. “That’s certainly good news. But the EU (European Union) Parliament will still need to confirm the EC decision,” Remolona said last week. The EC announced on June 10 that it had removed …

Finance Secretary Ralph Recto last week emphasized the importance of the 2024 Philippine Public Expenditure and Financial Accountability (PEFA) Assessment Report in shaping responsible and effective government spending. Speaking during the report’s release, Recto said its findings offer a valuable roadmap for policymakers to ensure the prudent allocation and utilization of public funds, ultimately sustaining the delivery of quality services …

The Development Bank of the Philippines (DBP) posted a net income of P1.61 billion in the first quarter of 2025, marking an impressive 82% jump from the P571 million it recorded during the same period last year. The surge came as the state-owned bank ramped up its lending efforts to key sectors and industries, according to a top executive. DBP …

Finance Secretary and Land Bank of the Philippines (LANDBANK) Chair Ralph G. Recto has praised the state bank for declaring P33.5 billion in dividends–its single highest dividend yield in its history, with millions of Filipinos expected to benefit. The dividend remittance is in line with President Ferdinand R. Marcos, Jr.’s directive to uphold fiscal discipline, ensuring that the government maximizes …

The Department of Budget and Management (DBM) recently released ₱1.3 billion for the implementation of the Electronic Gates (E-gates) Project at major airports and seaports across the country. “The DBM released the budget allocation for the E-gates Project for 2025, amounting to ₱1.347 billion,” according to statement from Budget Secretary Amenah F. Pangandaman. The project “modernizes and digitizes the primary …

San Miguel Corporation expects its growth projections for the first quarter of 2025 to be sustained by new revenue streams. During the firm’s annual stockholders’ meeting, SMC Chairman and CEO Ramon S. Ang said the conglomerate’s performance will improve due to additional revenues generated from SMC’s operations at the Ninoy Aquino International Airport. He added that the 66-kilometer tollway from …

Green and Smart Mobility (Green GSM), Vietnamese electric vehicle (EV) ride-hailing service provider, is investing $1 billion for its Philippine operations. The Office of Special Assistant to the President for Investment and Economic Affairs (OSAPIEA) said that Green GSM has started its investments in the Philippines with the launch of its taxi and transportation network vehicle service in the country. …

Jetstar Asia, a Singapore-based budget airliner, announced it terminate its operations by the end of July 2025. Jetstar Asia said in a statement the “difficult decision” was made to “progressively reduce the airlines’ flight schedule before permanently ceasing operations” on July 31. “Jetstar Asia’s business has been increasingly challenged in recent years by escalating supplier costs, airport fees and aviation …