Business

The Philippine Board of Investments surpasses its Php1.26 trillion full year investment approvals for 2023 as it reaches Php1.35 trillion by its 57th founding anniversary on September 16, 2024. This figure marks a significant 82% increase from the Php741.98 billion approved in January to September 15 last year. The energy sector, mainly projects in renewable energy, continued to dominate the …

The Department of Finance (DOF) forecasts a full-year inflation rate of 3.4% by the end of 2024. During a recent media briefing at Malacañang, DOF Secretary Ralph Recto stated this projection aligns with the Bangko Sentral ng Pilipinas (BSP) target range of 2% to 4%. “We expect it to be within the target range of the BSP… so we’re looking …

Residential real estate prices of various types of new housing units in the Philippines continued to increase in Q2 2024. Residential property prices rose by 2.7 percent year-on-year (YoY), albeit at a slower pace than the 6.1 percent growth in Q1 2024. On a quarter-on-quarter (QoQ) basis, housing prices grew faster at 1.8 percent than the 1.1 percent growth in …

The Philippine Amusement and Gaming Corporation (PAGCOR) said it has tweaked its “Bingo for A Cause’’ program to help local government units (LGUs) and non-government organizations (NGOs) raise more funds for their socio-civic programs.  PAGCOR Assistant Vice President Maria Teresa Ocampo said the state gaming agency has approved new packages that will allow LGUs and NGOs to earn as much …

Unilever Philippines is making waves with its Kabisig Summit, a groundbreaking initiative aimed at supporting sari-sari store owners—an essential part of Filipino communities. With over a million sari-sari stores across the country, these micro-businesses are crucial to the nation’s economy, serving as hubs for daily essentials, social connection, and family livelihood. The Kabisig Summit offers both online and in-person training …

The national government’s budget deficit went down by 59.24 percent to P54.2 billion in August this year from P133 billion in the same month a year ago. Data released by the Bureau of the Treasury (BTr) showed that the lower deficit during the month was due to the 24.40 percent growth in government revenues alongside a 0.68 percent contraction in …

Finance Secretary Ralph Recto has assured the public the Department of Finance (DOF) and the Bureau of Customs (BOC) are ready to fully implement the anti-agri economic sabotage law to end agricultural smuggling, profiteering, and hoarding. In a statement on Friday, Recto said Republic Act 12022 or the Anti-Agricultural Economic Sabotage Act, signed by President Ferdinand R. Marcos Jr. on …

The Philippines has leapfrogged 47 places over the past decade in the Global Innovation Index (GII) published by the World Intellectual Property Office (WIPO). The country ranked 53rd this year from 100th place in the 2014 edition of the report, making the country one of the fastest 10-year risers along with China, Türkiye, India and Vietnam. The Philippines also advanced …

The Social Security System (SSS) is optimistic that new member registration could reach 4 million to 5 million this year. In a statement on Thursday, the SSS said its new member registration has already reached 2.4 million as of end-July, surpassing the agency’s 2 million target for this year. Macasaet said the new SSS members went up by 165 percent …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. indicated that more interest rate cuts are “possible” for the remainder of the year. “We have a policy meeting in October and another in December. So, a 25-basis-point cut in each meeting is possible, in principle,” Remolona said on the sidelines of a forum at the Asian Development Bank (ADB) last …