Business

The Philippine manufacturing sector closed 2024 on a strong note, fueled by robust growth in output and new orders, according to a report by S&P Global on Thursday. The country’s manufacturing Purchasing Managers’ Index (PMI) climbed to 54.3 in December, up from 53.8 in November, matching the highest level since November 2017, alongside the PMI recorded in April 2022. “The …

Department of Finance (DOF) Secretary Ralph Recto proposed last week a substantial increase in the benefit packages offered by the Philippine Health Insurance Corporation (PhilHealth) for the country’s 10 most common illnesses. Recto suggested that enhancing these benefit packages would ensure the efficient use of PhilHealth’s resources. He shared this recommendation during a press conference at Malacañang Palace following the …

The Department of Finance (DOF) reported recently that non-tax revenues reached PHP555.30 billion end of November 2024, a 45.6-percent increase compared to the same period in 2023. This made DOF hit an all-time high non-tax revenue collections in 2024, providing additional resources to fund key programs of the Marcos administration, especially in improving the lives of Filipinos. Projections for the …

The Bases Conversion and Development Authority (BCDA) has issued a directive to local government units (LGUs), government agencies, and businesses to cease utilizing the Kalangitan sanitary landfill in Capas, Tarlac, following the expiration of the service contract for the property. In a statement recently, the BCDA emphasized that the Contract for Services between Metro Clark Waste Management Corp. (MCWMC) and …

The International Monetary Fund (IMF) has recognized the Philippines’ significant strides in combating money laundering and terrorism financing. In its latest report, the IMF commended the country’s progress in addressing anti-money laundering and counter-terrorism financing (AML/CFT) issues, noting that these efforts should persist. It also welcomed the Financial Action Task Force’s (FATF) acknowledgment that the Philippines has substantially completed its …

The Land Bank of the Philippines has assured its stakeholders of its financial stability and regulatory compliance following the allocation of P50 billion to the Maharlika Investment Fund (MIF). In a statement released recently, Landbank emphasized that it continues to meet and even surpass the Bangko Sentral ng Pilipinas’ (BSP) minimum Capital Adequacy Ratio (CAR), a critical measure of a …

The Land Bank of the Philippines (LandBank) and the Development Bank of the Philippines (DBP) have demonstrated strong financial performance, putting them in a position to expand services and better support Filipinos, the Department of Finance (DOF) announced recently. The DOF highlighted that both banks have consistently exceeded the Bangko Sentral ng Pilipinas (BSP) minimum capital adequacy ratio (CAR), a …

The Bangko Sentral ng Pilipinas (BSP) has revised its projections for the country’s balance of payments (BOP) surplus for 2024 and 2025, signaling continued resilience in the nation’s external financial position despite ongoing global uncertainties.  The BOP, which tracks a country’s economic transactions with the rest of the world, is now expected to record a surplus of USD3.5 billion in …

By Rose de la Cruz The Bangko Sentral ng Pilipinas has spent nearly P6 billion for the production abroad of polymer bank notes in P1,000; P500; P100 and P50 denominations, which also erased the memories of heroes who have shed their blood and lives for the independence and integrity of the country. Instead, the BSP has completely replaced them with …

ArenaPlus, the country’s 24/7 digital sports entertainment gateway, gifted Filipino fans with a special experience on December 23, 2024. Lucky fans got to video call with Reaves and even more got to chat and ask their favorite basketball star questions on life in the league, his experience in the Philippines, and his partnership with ArenaPlus. Reaves gave out lots of …