Economy

The country’s ocean-based industries breached the ₱1 trillion mark in 2024, contributing nearly 4 percent to the national economy, according to the Philippine Statistics Authority (PSA). PSA data showed the ocean economy expanded by 4.7 percent to ₱1.01 trillion from ₱962.49 billion in 2023, accounting for 3.8 percent of gross domestic product (GDP) at current prices. Sectors that posted the …

Let’s be real. Most people don’t have an emergency fund. We live with a “come what may” mindset. The problem is, when trouble comes, it usually comes with a bill attached. Here’s the painful truth: one hospital trip, one job layoff, one broken appliance, and suddenly your wallet is in the ICU. Instead of savings, we resort to borrowing. And …

The Department of Finance (DOF) recently denied reports that South Korea suspended a ₱28 billion official development assistance (ODA) loan to the Philippines due to corruption issues.a “As regards the supposed ₱28 billion ODA loan between South Korea and the Philippines, the Department of Finance categorically clarifies that no such loan exists,” the DOF said in a statement. The agency …

Motorists should brace for another round of pump price hikes this week, with increases projected at ₱1 to ₱1.50 per liter due to global supply concerns. Jetti Petroleum president Leo Bellas said diesel is expected to go up by ₱1.30 to ₱1.50 per liter, while gasoline may climb between ₱1 and ₱1.20, based on the Mean of Platts Singapore (MOPS) …

Trade and Industry Secretary Cristina Roque on Thursday highlighted the growing role of the creative sector in fueling the country’s economic expansion, saying it is fast becoming one of the Philippines’ strongest competitive edges. Speaking at the opening of the Malikhaing Pinoy Expo at SMX Convention Center Aura in Taguig City, Roque said creativity should be seen not only as …

Philippine exports continued their upward momentum in July 2025, surging 17.3 percent year-on-year to USD7.34 billion, driven largely by strong demand for electronics, data from the Philippine Statistics Authority (PSA) showed. The Department of Trade and Industry (DTI) said Thursday that exports have now grown for seven straight months, with total shipments from January to July reaching USD48.62 billion—up 13.9 …

The Philippines’ location, competitive incentives, and skilled workforce make it an ideal site for digital infrastructure, Board of Investments (BOI) Executive Director Bobby Fondevilla said last week. Speaking at the Siemens Tech Forum in Mandaluyong City, Fondevilla highlighted the growing role of the data center industry as one of the cornerstones of the country’s digital economy.  He said the government …

The Economy and Development (ED) Council Investment Coordination Committee – Cabinet Committee (ICC-CC), chaired by Finance Secretary Ralph Recto, has approved a resolution to aggregate flood control and management projects within a single river basin. The Department of Finance (DOF) said Wednesday that the resolution, adopted on Aug. 12 upon the recommendation of the Infrastructure Development Committee Sub-Committee on Water …

HOUSE OF FINACIALFREEDOMBy Chinkee Tan RA 12214, also known as the Capital Markets Efficiency Promotion Act, is a new law aimed at making investing in the Philippines more attractive. It streamlines rules, reduces certain taxes, and opens the door for more products in the capital market. In short, it’s designed to get more Filipinos to invest instead of keeping money …

HOUSE OF FINANCIAL FREEDOM By Chinkee Tan You’d think doubling your income would automatically make you wealthier. For most people, it doesn’t. I’ve seen it countless times as a wealth coach: salary goes up, lifestyle follows, and savings stay flat. This is called the income trap: expenses grow as fast as, or faster than, income. One of my clients experienced …