International passenger demand remained solid, driven by the robust recovery in leisure and business travel in Asia and globally, as opposed to global cargo market, which was lackluster, according to March 2023 traffic figures from the Association of Asia Pacific Airlines (AAPA).  The easing of travel restrictions, coupled with strong travel appetite, led to a 494.6% year-on-year increase in the …

Online travel platform Agoda has found that the Bacolod City in Negros Occidental is the country’s cheapest tourist destination.  Agoda analyzed the average room rates of tourist destinations for April 2023, and after crunching the numbers saw that rooms in Bacolod cost an average of P2,650.  Beyond affordable room rates, the company noted that Bacolod — coined the “City of …

Ford Philippines announced the winners of the 22nd Henry Ford Awards (HFA), the first and only program of its kind in the country that recognizes excellence in Philippine automotive journalism, recently at the Xylo at the Palace in Taguig City.  The awards night is the culmination of months of rigorous deliberations of over 200 entries submitted by members of the …

Suzuki vehicle owners are rejoicing with the opening of the Suzuki Auto Taguig which is situated on a 1,130 sq-meter lot with a showroom and a six-bay service area and right beside the big Vista Mall.  This is the 35th dealership of Suzuki Philippines Inc. (SPH), the country’s pioneer compact car distributor, located strategically at 1050D Levi B. Mariano Ave. …

The Bank of the Philippine Islands (BPI) is the very first bank in the country to stretch the financing of car loans to an amazing 7 years from the ordinary 5-year term.  This was revealed during the launch of the BPI Hot Summer Promo, one of the bank’s initiatives to support nation-building by enabling Filipino families to own their dream …

The Land Bank of the Philippines (LANDBANK) recorded a net income of P10.8 billion in the first three months of 2023, buoyed by higher interest income and lower operating costs.  The three-month figure is P2 billion higher than its target for the first quarter and represents 30.8% of the Bank’s P35 billion income target by year-end.  The net income recorded …

Transactions on foreign investments registered with the BSP, through AABs, in March 2023 recorded net outflows of US$70 million, resulting from gross outflows of US$1.33 billion and gross inflows of US$1.26 billion. This is smaller compared to the net outflows recorded in February 2023 (US$531 million) and in March 2022 (US$305 million).  The US$1.26 billion registered investments for the month …

For many, farming is a way of life. They gain a profound sense of purpose when they cultivate the land, plant seeds, and harvest fruits and vegetables that will nourish not just their families but an entire community.  It has also since emerged as a viable social enterprise. Through trainings, farmers have learned business principles and saw livelihood and entrepreneurial …

The reintegration of the 1,200-megawatt (MW) Ilijan natural gas plant to the national grid – targeted by May 26 – is expected to help stabilize the country’s power supply amid the projected high demand in the summer months and the coming years.  San Miguel Corp., through its power arm SMC Global Power Holdings Corp. (SMGP), recently took delivery of the …

“For 126 years, this institution has stood as the firm foundation of the Philippine economy through the performance of its core mandates – revenue generation, resource mobilization, and fiscal management,” Finance Secretary Benjamin Diokno said in his message during the 126th Anniversary Opening Ceremony at the DOF Office in Manila.  Founded in 1897 by the Revolutionary Government in the Spanish …