Economy

Collaboration among the government, academe, and the Information Technology-Business Process Management (IT-BPM) sector is driving the Philippines’ sustained dominance in the global business process outsourcing (BPO) industry. Inkee Hidalgo, vice president for learning and development at global digital business services provider TP, said the country’s two decades of experience in managing the BPO space form a strong foundation for continued …

Finance Secretary Ralph Recto on Thursday said the country’s tax revenues must increase by at least 10.2 percent annually from 2025 to 2028 to keep government programs adequately funded and ensure fiscal stability. Recto said the steady growth would push total revenues to nearly ₱6 trillion by the end of President Ferdinand R. Marcos Jr.’s term and breach ₱7 trillion …

Electricity consumers can expect slightly lower power transmission charges this October after the National Grid Corporation of the Philippines (NGCP) announced a 1.23 percent decrease in overall transmission rates. NGCP Assistant Vice President and Regulatory Management head Julius Ryan Datingaling said the average transmission rate dropped to ₱1.3998 per kilowatt-hour (kWh) from ₱1.4171/kWh in the previous billing period, mainly due …

The Department of Trade and Industry (DTI) will impose a safeguard duty of ₱14 per 40-kilogram bag of imported cement over the next three years, following the recommendation of the Tariff Commission. DTI Secretary Cristina Roque said the measure covers Ordinary Portland Cement Type 1 and Blended Cement and is meant to “level the playing field between domestic manufacturers and …

Finance Secretary Ralph Recto has ordered the creation of a multi-sectoral working group that will develop digital solutions to address tax and non-tax concerns and help strengthen the country’s investment climate. The Department of Finance (DOF) said the group, which will include private sector partners, aims to boost investor confidence and generate more jobs for Filipinos. The directive was issued …

Businesses in the Taguig City People’s Market are selling goods within or below the government’s suggested retail prices (SRPs), Trade Secretary Cristina Roque said on Thursday. Roque made the statement after the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) jointly conducted a price monitoring activity to ensure that prices of basic necessities and prime commodities …

A ham manufacturer has informed the Department of Trade and Industry (DTI) of a possible price rollback for the Christmas season, Trade Secretary Cristina Roque said last week. Roque declined to identify the company pending price adjustment applications from other manufacturers. “But more of the requests are coming to the DTI now to encourage the manufacturers that there would be …

Energy Secretary Sharon Garin has assured the timely implementation of eight new petroleum service contracts (PSCs) recently approved by President Ferdinand R. Marcos Jr., covering exploration areas across the Sulu Sea, Cagayan, Cebu, Northwest Palawan, East Palawan, and Central Luzon. The Department of Energy (DOE) said the contracts were awarded through a transparent and competitive selection process under the Philippine …

The number of employed Filipinos rose to 50.1 million in August 2025, up from 46.05 million in July, according to the latest Labor Force Survey released by the Philippine Statistics Authority. National Statistician Dennis Mapa said the employment rate stood at 96.1 percent, with the services sector accounting for 61.5 percent of total jobs, followed by agriculture (20.4 percent) and …

The construction materials wholesale price index (CMWPI) in the National Capital Region (NCR) dropped by 0.2 percent in September, slightly slower than the 0.5 percent decline recorded in August, the Philippine Statistics Authority (PSA) reported recently. The PSA said the slower decrease was mainly due to higher prices in the heavily weighted index of concrete products, which rose by 0.2 …