Business

While admitting that the Bangko Sentral ng Pilipinas (BSP) may already be “behind the curve,” Governor Eli Remolona Jr. and the Monetary Board, these overpaid officials who control our monetary system, are thinking of acting now or waiting until their next regular meeting. They are still considering an off-cycle hike in interest rate, Remolona said. Meanwhile, the Filipinos are reeling …

The Marcos administration has no plans to suspend the collection of the feed-in tariff allowance (FIT-All), a charge imposed on consumers to support renewable energy (RE) projects. The policy was affirmed despite the rising cost of electricity, and the ongoing oil shock that started with the West Asia war in Iran that was started by the United States and Israel. …

Soon, there will be a 10-year cumulative term limit for broker-directors of bourses. This, as the Securities and Exchange Commission (SEC) finally rolled out this term limit policy, despite the opposition from leaders of the Philippine Stock Exchange (PSE). “By setting reasonable term limits for broker directors, the SEC seeks to strengthen market governance, mitigate potential conflicts of interest, level …

THE Asian Infrastructure Investment Bank (AIIB) will lend USD300 million to International Container Terminal Services Inc. (ICTSI) to support the expansion and upgrade of three container terminals across the Philippines. The Asian Infrastructure Investment Bank (AIIB) has signed a USD300 million senior unsecured corporate loan with International Container Terminal Services Inc. (ICTSI) to fund the expansion and upgrade of three …

THE Department of Transportation (DOTr) and the Light Rail Transit Authority (LRTA) signed a credit line agreement with the Land Bank of the Philippines (LANDBANK) last May 14  to settle P3.6 billion in contractual obligations to Light Rail Manila Corporation (LRMC), the private operator of LRT-1. This initiative follows a directive from President Ferdinand Marcos Jr. for the DOTr to …

THE Government Service Insurance System (GSIS) recorded an impressive 170 percent increase in net income for the first quarter of 2026, reaching P43.6 billion compared to P16.1 billion in the same period last year. Total income for the quarter surged by 43.83 percent to P95.8 billion, driven primarily by P56.6 billion in insurance revenue from growing member contributions and a …

By DIEGO C. CAGAHASTIAN Government law enforcers raided the Philippine Sanjia Steel Corp. and closed the company’s 22.7-hectare steel manufacturing facility inside the PHIVIDEC Industrial Estate in Tagoloan, Misamis Oriental. The May 15 raid was led by Executive Director Undersecretary Benjamin Acorda Jr. of the Presidential Anti-Organized Crime Commission (PAOCC), the National Bureau of Investigation (NBI) and the Armed Forces …

The Bangko Sentral ng Pilipinas is urging businesses to actively promote the Personal Equity and Retirement Account (PERA) program, highlighting its tax incentives and long-term benefits for both employers and workers. BSP Deputy Governor Lyn Javier said in a statement that encouraging PERA participation can help employees build stronger retirement savings while also improving workplace retention and satisfaction. “By promoting …

The Land Bank of the Philippines has reduced its InstaPay transfer fee for person-to-person transactions from ₱15 to ₱8, in a move aimed at making digital financial services more affordable and widely accessible. The new rate took effect on May 21 and applies to transfers made through the Landbank Mobile Banking App and iAccess platform. To further ease costs for …

The Philippine Deposit Insurance Corporation (PDIC) will dispose of 44 real properties across Visayas and Mindanao through an electronic public bidding (e-bidding) scheduled next month, as part of its continuing effort to liquidate assets of closed banks. In a statement last week, PDIC said bid submissions will be accepted from 9 a.m. on June 17 until 1 p.m. on June …