Business

The fiscal gap of the Philippines widened last month (March) as spending growth outpaced revenue gains Stronger cumulative collections, however, contributed to a slimmed deficit in the first quarter of the year. In a statement on Thursday, the Bureau of the Treasury said the budget deficit in March rose 2% to P349.7 billion from a year earlier, driven by faster …

Globe Telecom Inc. has disclosed to the Philippine Stock Exchange that  it has purchased $426.42 million of securities from the total $600 million issued in 2021. “An aggregate principal amount of $173.58 million of the securities would remain outstanding,” Globe said. Globe priced the offer at $1,000 per $1,000 principal amount of securities and will also pay sellers an accrued …

PLDT Inc. will use one of the most advanced agentic artificial intelligence (AI) to expedite information exchange with enterprises. PLDT said it will partner with New York-based innovator UiPath in deploying conversational agent KAI, short for Knowledge, Automation, Intelligence. The new facility is viewed in the AI industry as one of the most advanced agentic solutions right now. KAI will …

The Philippine government has welcomed the inclusion of peso-denominated government bonds in a major global benchmark, a move officials say underscores growing investor confidence in the country’s economic fundamentals. In a joint statement, the Department of Finance (DOF), Bureau of the Treasury (BTr), and Bangko Sentral ng Pilipinas confirmed that J.P. Morgan will add Philippine government bonds to its Government …

The Bangko Sentral ng Pilipinas on Thursday raised its key policy rate by 25 basis points to 4.5 percent, citing worsening inflation pressures driven by rising global oil prices linked to the Middle East conflict. In its latest move, the Monetary Board also adjusted the overnight lending and deposit facility rates to 5 percent and 4 percent, respectively. It was …

The Philippines secured over $6 billion in financing and co-financing support from the Asian Development Bank last year, underscoring continued multilateral backing for key infrastructure, social protection, and resilience programs. According to the ADB’s Annual Report 2025 released Thursday, the country received $4.1 billion in loans and grants from the Manila-based lender, alongside $2.6 billion in co-financing arrangements. Major allocations …

Insured deposits in the Philippine banking system surged to ₱5.2 trillion last year, reflecting stronger depositor protection and growing confidence in the financial sector, the state deposit insurer said. The Philippine Deposit Insurance Corporation reported that the total rose by 40.9 percent from ₱3.7 trillion in 2024, marking a significant expansion of the country’s financial safety net. A key driver …

The Philippine banking system posted stronger asset growth in February, reflecting continued expansion in lending activity and steady investor confidence, according to data from the Bangko Sentral ng Pilipinas. Latest figures showed total banking assets reached ₱29.19 trillion in February, up 8.3 percent from ₱26.95 trillion a year earlier. The total was also slightly higher than the ₱29.11 trillion recorded …

By DIEGO C. CAGAHASTIAN TWO business-related developments coming from the United States government dominated the headlines in local media over the weekend—the first about the US Department of War’s plan to develop an oil storage facility in the Davao Region and second, the construction of a sprawling industrial hub in Central Luzon to secure Artificial Intelligence (AI) and semiconductor supply …

“Go easy on helping the poor.  Make your ayuda program only temporary, you do not have much money.” This was— in layman’s language— what Krishna Srinivasan, director for the Asia and Pacific Department of the International Monetary Fund (IMF), advised the Philippine government under President Ferdinand Marcos Jr. and other similarly situated states in Southeast Asia, in the face of …