Companies

The Philippine tobacco industry likely generated USD7.3 billion in revenue in 2024, according to Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. He made this announcement during the second day of the International Tobacco Agricultural Summit at SEDA Vertis North in Quezon City. Lumagui noted that the local tobacco sector is expected to grow at an annual rate of …

A financial close has been reached for the joint acquisition deal involving the country’s largest power companies, owned by prominent tycoons Manuel V. Pangilinan, Sabin Aboitiz, and Ramon S. Ang, for a liquefied natural gas (LNG) terminal. In a statement last week, Manila Electric Company (Meralco) announced that its subsidiary Meralco PowerGen Corporation (MGEN), along with San Miguel Global Power …

Sunshine Place collaborates once more with artist Sir Jen Consumido to offer Fundamentals of Drawing Workshop from February 4 – March 11,2025.  The course focuses on an academic approach in learning about traditional drawing, aiming to impart knowledge and techniques for developing drawing skills using various traditional media.  The objective is to enhance observation skills, while also guiding students to …

The Department of Trade and Industry (DTI) is optimistic about pursuing a bilateral free trade agreement (FTA) with the United States under the renewed Trump administration, according to Undersecretary Ceferino Rodolfo. Speaking at an event in Makati City last week, Rodolfo noted that President Donald Trump’s track record suggests a stronger possibility of advancing talks on a PH-US FTA during …

The Department of Finance (DOF) has issued a Joint Administrative Order (JAO) to combat smuggling, misdeclaration, and undervaluation of imported goods through streamlined customs procedures and enhanced inspection systems. The DOF released JAO No. 001-2025 to set in motion Administrative Order (AO) No. 23, which establishes a Digital and Integrated System for Pre-border Technical Verification and Cross-border Electronic Invoicing.  This …

Trade Secretary Cristina Roque emphasized the Philippines’ commitment to inclusive digital transformation to enhance its trade and financial ecosystems during the World Economic Forum’s (WEF) annual meeting in Switzerland. At the Innovative Trade Financing Forum last week, Roque highlighted how the Philippines is leveraging advanced technologies like artificial intelligence (AI) and digital tools to revolutionize supply chains, e-commerce, and services …

A Filipino ice cream brand has expanded into locally-sourced fresh milk production, aiming to provide livelihood opportunities for dairy farmers and significantly boost supply by late 2025. During the launch of Carmen’s Best fresh milk in Makati City recently, Jovy Hernandez, President and CEO of Metro Pacific Agro Ventures (MPAV)—the agricultural arm of Metro Pacific Investments Corp. (MPIC)—highlighted the company’s …

SteelAsia Manufacturing Corp., the country’s largest steel producer, is set to invest PHP30 billion in constructing a state-of-the-art steel facility in Candelaria, Quezon. In a statement released Wednesday, SteelAsia announced that the new plant will serve as an import substitute for heavy structural steel products, which the Philippines currently sources from other countries.  The facility will utilize cutting-edge European steel …

The  Philippine Amusement and Gaming Corporation (PAGCOR) has further reduced its fee rates for Electronic Games (E-Games) from 35 percent to 30 percent effective January 1, 2025 as part of efforts to combat illegal gaming operations. PAGCOR Chairman and CEO Alejandro H. Tengco said rates for E-Games operated by integrated resorts were also reduced to a lower 25 percent to …

The Philippine Postal Corporation (PHLPost) is now offering affordable logistics service to both government and the private sector. PHLPOst said it can now pick up, wrap, and deliver office equipment and other bulk items with the addition of  18 six-wheelers and four wheeler trucks to government and the private sector in need of affordable logistics service.  Postmaster General Luis Carlos …