Business

Contecon Guayaquil (CGSA), Ecuador’s main port and subsidiary of International Container Terminal Services, Inc. (ICTSI), has signed a new commercial agreement for the Asia-South America (ASA) service, further strengthening Contecon Guayaquil’s connectivity with the Asian market.  The agreement brings back five shipping lines and their shippers’ customer base to the terminal: Wan Hai, Pacific International Lines, Cosco, Evergreen and Yang …

FWD Group Holdings Limited (“FWD Group” or “FWD”) announced it has signed a cooperation agreement with Roche Diagnostics Asia Pacific Pte Ltd (“Roche”) to leverage Roche’s navify® digital healthcare solutions and advanced diagnostic methodologies for innovation in FWD’s health insurance services in Asia.The collaboration will span an initial period of three years. It aims to bring to market health solutions …

The annual World Bazaar Festival organized by Worldbex Services International (WSI) has always been ready to serve something new on the table. For 24 years now, as the longest-running charity bazaar in the Philippines, it is truly anticipated by loyal bazaaristas with great anticipation. And this year, just as the event never gets any older, the World Bazaar Festival unveils …

The Government Service Insurance System (GSIS) has allocated P514 million in emergency loans to support 23,469 members and pensioners affected by recent typhoons in Luzon. The financial assistance is available to individuals residing or working in areas declared under a state of calamity, including Quirino, Apayao, Aurora, Santiago City, and Cabagan, Isabela. These areas suffered significant damage due to typhoons …

The Philippine Statistics Authority (PSA) reported Friday that the country’s unemployment rate dropped to 3.9 percent in October, an improvement from 4.2 percent in the same period last year. The National Economic and Development Authority (NEDA) attributed this decline to a strengthening labor market, as total employment rose to 48.2 million, reflecting an increase of 369,000 jobs compared to October …

The National Economic and Development Authority (NEDA) announced that government measures to address inflationary pressures have kept inflation within the target range in November, despite challenges posed by recent typhoons. Data from the Philippine Statistics Authority (PSA) showed that headline inflation in November settled at 2.5 percent, slightly up from October’s 2.3 percent but markedly lower than the 4.1 percent …

Special Assistant to the President for Investments and Economic Affairs (SAPIEA) Frederick Go said the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) will make the Philippines as a favorable exports hub as the law eases doing business and reduces cost of operating in the country. At the National Export Congress 2024 …

The Board of Investments (BOI) has endorsed two renewable energy (RE) initiatives by Nexif Ratch Energy Investments Pte. Ltd. (NREI), with a combined value of P73.9 billion, for streamlined processing under the government’s green lane program. In a statement released Friday, the BOI announced that it had issued a green lane certificate to the P67-billion Lucena Wind Power Project. This …

Canadian businesses eyeing opportunities in the Philippines are set to benefit from the launch of the Export Development Canada (EDC) office in Manila. The state-owned export credit agency officially announced its Manila presence during a plenary session at the Canadian Embassy Thursday last week, coinciding with a Canadian Trade Mission’s visit to the country. “We’ve been thinking about this for …

The Bangko Sentral ng Pilipinas (BSP) said the new polymer banknotes to be released in the first quarter of 2025 will be circulated alongside the existing paper banknotes. “Paper banknotes shall remain legal tender,” the BSP said in a statement last week. In a recent social media post, the BSP announced the issuance of the First Philippine Polymer banknote series. …