Companies

Inflation is expected to slow further to 1.9% in March, driven by improved weather conditions that boosted agricultural production, according to an economist. Rizal Commercial Banking Corporation chief economist Michael Ricafort said in a Viber message that inflation is projected to ease from 2.1% in February, falling below the Bangko Sentral ng Pilipinas’ (BSP) target range of 2-4%. “Better weather …

The Philippines’ creative economy grew by 8.7% in 2024, reaching P1.94 trillion from P1.78 trillion in the previous year, according to the Philippine Statistics Authority (PSA). Preliminary data released last week showed that the sector contributed 7.3% to the country’s gross domestic product (GDP). The creative economy encompasses various industries, including audiovisual media, digital interactive services, advertising, research and development, …

Automotive vehicle sales in February saw a 2.9% increase, reaching 39,164 units compared to 38,072 in the same period last year, according to a joint report by the Chamber of Automotive Manufacturers Association of the Philippines, Inc. (CAMPI) and the Truck Manufacturers Association (TMA). The commercial vehicle segment was the primary driver of this growth, posting a 9.1% increase in …

U.S.-based EōS Organization, a global leader in energy solutions, has signed two memoranda of understanding (MOUs) to support the development of the Philippines’ civil nuclear workforce. The agreements, signed Friday in Makati City, were made with the Philippine-American Educational Foundation (Fulbright Philippines), as well as the Mindanao State University-Iligan Institute of Technology (MSU-IIT) and the Valar Atomics Research Institute (VARI). …

SM Investments Corp., the country’s largest mall operator, remains optimistic about the Philippines’ economic growth this year, reaffirming its commitment to expanding its retail, property, and financial services sectors. Erwin Pato, SM Investments’ Executive Vice President for Treasury, Finance, and Planning, emphasized that the Philippine economy’s consumption-driven nature aligns well with the company’s core businesses. With 70% of the country’s …

The imposition of provisional duties and tariffs on imported cement by the Philippines is expected to have a significant impact, according to the Viet Nam Trade Office. Vietnamese exporters are being advised to actively participate in the ongoing investigation to avoid unfavorable outcomes. The Philippine government has launched a preliminary safeguard measures investigation into cement imports from various countries, including …

Two Japanese manufacturers are considering expanding their business operations in the Philippines, according to the Philippine Economic Zone Authority (PEZA). In a statement on Thursday, PEZA revealed that Kawamura Electric, Inc. and FRP Services & Company Japan expressed interest in exploring investments in ecozones during Director General Tereso Panga’s visit to Tokyo from March 3 to 6. Kawamura Electric is …

The Philippines has reached a significant economic milestone, with strategic investments in the country amounting to P4.6 trillion, President Ferdinand R. Marcos Jr. announced on Thursday. President Marcos attributed this achievement to the government’s efforts in streamlining investment processes and working closely with various agencies to attract investors.  He emphasized that the influx of investments is expected to create approximately …

Manila Electric Company (Meralco) customers will face higher electricity bills this March following an increase of P0.2639 per kilowatt-hour (kWh), the company announced last week. This adjustment raises the overall rate to P12.2901 per kWh from February’s P12.0262 per kWh. For households consuming 200 kWh, this translates to an additional P53 on their monthly bill. Meralco attributed the rate hike …

The Department of Finance (DOF) has introduced updated guidelines for the disposal of government assets, aiming to maximize non-tax revenues and streamline privatization efforts. In a statement on Thursday, the DOF said the move aligns with Executive Order No. 323, which established the Inter-agency Privatization Council (PrC) and the Privatization and Management Office (PMO).  The PrC oversees national privatization efforts, …