Business

THE Philippines’ high exposure to inflation risks could prompt the central bank to tighten its monetary policy further despite its weak growth prospects, Oxford Economics said.     In a report dated Aug. 11, the United Kingdom-based think tank said the Bangko Sentral ng Pilipinas could still deliver an additional 50 basis points (bps) in rate hikes to 5.25% this …

GLOBE Telecom, Inc. said its use of artificial intelligence (AI) to predict potential network failures and enable preventive maintenance has generated about P200 million in savings. Jennifer Jane G. Echevarria, vice-president and head of enterprise data and strategic services at Globe, said the telecommunications company has recently used generative AI to forecast possible network failures as much as three months …

The Asian Development Bank (ADB) has increased financing for the Philippines’ universal health care program by $250 million to $750 million. The additional financing forms part of an $800-million package that the multilateral lender is deploying to help the Philippines and Maldives maintain essential public services. Of the total, $750 million will go to the Philippines while $50 million will …

The government`s principal home financing institution Pag-IBIG Fund has partnered with Ayala Land residential brands Avida Land Corp. and Amaia Land Corp. for more housing options for qualified workers. The arrangement will enable Pag-IBIG Fund members to choose from a wider range of properties and financing plans. Fund CEO Marilene Acosta said the agency is expanding partnerships with established developers …

The Philippines has secured €200 million, or about ₱14 billion, in financing from France’s development bank to strengthen marine ecosystem protection and create more sustainable economic opportunities in coastal communities. The Department of Finance said last week that the funding from Agence Française de Développement (AFD) will support the first phase of the Marine Ecosystem for Blue Economy Development (MEBED …

BDO Unibank is celebrating its 50th anniversary with a raffle promotion offering five Toyota Ativ Hybrid cars and 250 SM Gift Certificates worth ₱5,000 each to qualified clients. The anniversary promo will run from September 2026 to January 2027, with four monthly draws and a grand draw scheduled during the five-month period. Existing BDO Unibank and BDO Network clients may …

Bank of the Philippine Islands (BPI) is simplifying digital bank account opening by integrating the Philippine Identification System (PhilSys) into its mobile application as the bank celebrates 175 years of service. BPI and the Philippine Statistics Authority (PSA) formalized the partnership through the signing of a Subscription Contract covering the bank’s adoption of the National ID Authentication Services (NIDAS), which …

Philippine Savings Bank (PSBank) posted a net income of ₱1.3 billion in the first half of 2026, as resilient core revenues and continued growth in loans and deposits helped sustain the bank’s performance despite challenging market conditions. Net interest income rose 2 percent year-on-year to ₱6.7 billion, while total assets reached ₱234 billion as of end-June, up 5 percent from …

Hiraya Water Corporation has begun rolling out a series of major infrastructure projects in Lucena City, breaking ground on water source development and pipeline rehabilitation initiatives aimed at improving water availability, pressure, and long-term service reliability for thousands of residents. The groundbreaking ceremony, held on July 26 at the Lucena City Hall Compound, marks another milestone in the company’s rehabilitation …

The number of employed Filipinos went up to 50.66 million in June this year from 49.63 million in May, data from the Philippine Statistics Authority (PSA) showed. Results of the latest Labor Force survey showed that this was also higher than the 50.47 million employed in June 2025. National Statistician Dennis Mapa said the employment rate during the month was …