Xpress, the country’s fastest-growing ride-hailing platform, has begun integrating industry-leading greener mobility cars of BYD into its fleet in a bold initiative to accelerate the transition to sustainable urban mobility. In its recent event dubbed as “Sustainable Rides, Pinoy Pride” at the Blue Leaf Pavilion in McKinley Hill, Taguig City, Xpress rolled out a zero commission program for a limited …

The government is intensifying its efforts to sustain sound fiscal management, Budget Secretary Amenah Pangandaman said on Friday, following the reported 5.7-percent reduction in the country’s budget deficit in 2024. Pangandaman made the statement after the Bureau of the Treasury (BTr) announced that the budget deficit declined to P1.506 trillion, a 0.38-percent reduction, as revenue growth outpaced government spending. According …

The Philippine Amusement and Gaming Corporation (PAGCOR) today welcomed the country’s exit from the Financial Action Task Force grey list and vowed to continuously strengthen regulations and strict monitoring of the local gaming industry.  PAGCOR Chairman and CEO Alejandro H. Tengco said the exit from the list is a very significant development that should help bring in more foreign investments …

The Philippine economy is poised to expand beyond 6 percent this year, with inflation expected to remain within target, according to forecasts from an investment management firm and a UK-based bank. During a briefing in Makati City on Friday, Sun Life Investment Management and Trust Corp. Chief Investment Officer Ritchie Teo projected a 6.2 percent growth rate for the Philippine …

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 …