The Philippines’ total external trade in goods grew by 9.1 percent in January, reaching USD17.82 billion from USD16.32 billion in the same period last year, according to the Philippine Statistics Authority (PSA). Latest data released on Friday showed that imports accounted for 64.3 percent of the total trade value, while exports made up 35.7 percent. Export sales climbed by 6.3 …

The national government’s total revenue collection reached P4.419 trillion in 2024, surpassing the P4.27 trillion target, according to the Bureau of the Treasury (BTr). In a report released Thursday, the BTr noted that revenue collection last year amounted to 16.72 percent of the country’s gross domestic product (GDP), marking the highest revenue effort since 1997. The increase was largely attributed …

The government expects to generate at least ₱2.82 billion from the auction of its shares in United Coconut Chemicals Incorporated (CocoChem), according to a bidding invitation released by the Land Bank of the Philippines (Landbank). The bidding for the national government’s 681,985,073 common shares in CocoChem is set for June 27 at Landbank Plaza in Malate, Manila. The sale will …

The Philippine Deposit Insurance Corp. (PDIC) has announced an increase in the maximum deposit insurance coverage (MDIC) for bank deposits, doubling it from P500,000 to P1 million per depositor per bank. According to Memorandum 2025-01 released on Friday, the higher MDIC will take effect on March 15. “The increase in the MDIC was approved by the PDIC Board of Directors …

Philippine National Bank (PSE: PNB) posted its second year of high consolidated net income of P21.2 billion in 2024, increasing by 18% year-on-year as a result of sustained effort in strengthening the Bank’s core business.  This translated to a return on equity of 10.39% percent, up from the 9.95% posted in 2023. Comprising 83% of total operating income, the Bank’s …

Rizal Commercial Banking Corporation delivered net income of P9.5B for the full year 2024, with double-digit growth of 26% in net interest income and a 40% expansion in consumer loans.  The Bank’s total resources reached P1.4T by end 2024. Net income growth, without the non-recurring gains in 2023, was at 13.6% year-on-year, as core business maintains momentum. The bank’s net …

The Department of Transportation (DOTr) is no longer setting a timeline on when the Metro Manila Subway Project (MMSP) will be completed until such time that challenges on right of way (ROW) are sorted out. Transportation Secretary Vince Dizon received his first briefing with project managers of the subway, and was unsatisfied with the answers given to him regarding progress. …

The Maritime Industry Authority (Marina) Regional Office IX (MRO 9) led by OIC-director Farida Cunanan successfully held the second leg of its Maritime Safety Culture Awareness Campaign Caravan in Zamboanga City on 25 February 2025. Key highlight of the event was the formal signing of a memorandum of agreement (MoA) between MRO 9 and the Zamboanga City government to enhance …

The International Maritime Organization (IMO) reported that its member states have expressed willingness to continue exploring common ground in negotiations for new binding measures to cut greenhouse gas emissions (GHG) from international shipping. The IMO in London said international efforts to curb GHG emissions from shipping took a step forward as the IMO’s Intersessional Working Group (IWG) on Reduction of …

Transportation Secretary Vince Dizon issued a Department Order creating a Flagship Project Management Office (FPMO) following the directive of President Ferdinand Marcos Jr. to fast-track big-ticket transportation projects to alleviate commuter woes. The Chief Executive had instructed Sec. Dizon to speed up priority transport system infrastructure projects for physical connectivity and shorter travel time. Under Department Order 2025-002, the DOTr-FPMO …