United Arab Emirates state-owned company Masdar has committed to investing USD 15 billion in the Philippines’ renewable energy sector.  This was formalized through an Implementation Agreement signed with the Department of Energy (DOE). The signing took place on January 15 in Abu Dhabi, with DOE Undersecretary Rowena Guevara and Masdar CEO Mohamed Jameel Al Ramahi as signatories.  DOE Secretary Raphael …

Low-cost carrier Cebu Pacific (CEB) reported recently a strong growth in the Clark hub, flying over 1 million passengers via the Clark International Airport (CRK) last year. This is up 36 percent from close to 300,000 passengers in 2023. The Gokongwei-led airline’s average monthly seat grew by 102 percent to 161,000 in December 2024 from 79,000 in January. The average …

The Department of Finance (DOF) clarified that the P107-billion remittance from the Philippine Deposit Insurance Corporation (PDIC) to the national government consists of unrestricted funds, meaning they can be allocated for other purposes without affecting the PDIC’s reserve funds. These funds, which include cash and investment balances, are net of restricted amounts, according to the DOF statement.  The PDIC’s Deposit …

The share of non-performing loans (NPLs) in total loans of Philippine banks fell to a two-month low in November 2024, according to data from the Bangko Sentral ng Pilipinas (BSP) released last week. The NPL ratio in November stood at 3.54 percent, a slight decline from 3.60 percent in October 2024. This marked the lowest ratio since September 2024, when …

The Bureau of Internal Revenue (BIR) surpassed its 2024 collection target, reaching a total of P2.84 trillion, marking the first time in 20 years that it has exceeded its goal. “The BIR has collected at least P2.848 trillion for 2024. All credit belongs to the men and women of the BIR. Mabuhay po kayong lahat!” BIR Commissioner Romeo Lumagui Jr. …

Personal remittances from overseas Filipinos grew by 3.5 percent in November 2024, according to the Bangko Sentral ng Pilipinas (BSP). The BSP’s latest data revealed that personal remittances totaled USD3.12 billion in November, up from USD3.02 billion in the same month last year, driven by higher contributions from both land- and sea-based workers. Personal remittances include cash sent via banks …

The Department of Transportation (DOTr) remains relentless in its pursuit to elevate the country’s road sector, and uphold to global standards the different transport systems for 2025. Under President Ferdinand R. Marcos Jr.’s directive, the Department under Secretary Jaime J. Bautista continuously implements road transport infrastructure projects across the nation. Active Transport Project To promote sustainable mobility and alleviate traffic …

The Department of Transportation (DOTr), along with the Maritime Industry Authority (MARINA), Philippine Coast Guard (PCG), Philippine Ports Authority (PPA), and Cebu Port Authority, is steadfast in implementing maritime projects and initiatives by empowering the rights and welfare of Filipino seafarers, protecting our coastal territory and modernizing ports. New Cebu International Container Port To be constructed in Consolacion, Cebu, the …

Land Transportation Office (LTO) Chief, Assistant Secretary Atty. Vigor D. Mendoza II, ordered all regional directors to ensure that all the license plates of tricycles, particularly those being used in public transportation, are delivered by April 30 this year. The order came after the inventory of the printed license plates revealed that they are sufficient to cover all the tricycles …

The Metro Manila Subway Project (MMSP) continues to gain traction as the Department of Transportation (DOTr) and Armed Forces of the Philippines (AFP) launched the operations of the tunnel boring machine (TBM) at the project’s Camp Aguinaldo Station. Under MMSP’s Contract Package 103, four TBMs will be utilized for the tunneling of the Anonas and Camp Aguinaldo Stations. Transportation Undersecretary …