Business

Mega Prime Foods Inc. (MPFI), the company behind the Philippines’ leading sardines brand Mega Sardines, marks a significant milestone in its growth journey as it expands beyond seafood and into agriculture through a landmark partnership with global agro-industrial leader Charoen Pokphand Foods (CPF). The two companies recently broke ground on the Mega CP Layer Complex in Zamboanga City, positioning the region …

The Government Service Insurance System (GSIS) will release more than P19 billion under its Balik Ginhawa (Loan Moratorium Through Refund) program, benefiting 1.37 million members and pensioners with active loan accounts. GSIS data show that monthly loan amortizations range from ₱4,000 to ₱39,000, depending on the loan amount, equivalent to roughly ₱12,000 to ₱117,000 over three months. The program covers …

The country’s external financial position remains stable even after a month-on-month decline in foreign reserves, according to the Bangko Sentral ng Pilipinas (BSP). Latest preliminary data released last week showed that gross international reserves (GIR) stood at $107.5 billion in March, down from $113.3 billion in February. The GIR is composed of foreign-denominated securities, foreign exchange holdings, gold assets, and …

The national government posted a slightly narrower budget deficit in February, supported by stronger revenue collections that outpaced spending growth, according to the Bureau of the Treasury (BTr). Latest cash operations data showed the deficit eased to ₱171.2 billion in February, marginally lower than the ₱171.4 billion recorded in the same month last year. This brought the year-to-date fiscal gap …

The Philippines has secured a $600-million financing package from the World Bank to strengthen foundational skills in reading, literacy, and mathematics among public school students. The program, known as the Project for Learning Upgrade Support and Decentralization (PLUS-D), will be implemented by the Department of Education and is expected to benefit around 21 million learners from kindergarten to Grade 10, …

Credit activity in the country’s financial system continued to expand in February, with domestic lending growing at a slightly faster pace, according to the Bangko Sentral ng Pilipinas (BSP). Latest data showed outstanding loans from domestic banks rose 9.5 percent in February, up from 9.3 percent in January, reflecting steady credit demand across key sectors of the economy. Loans to …

The Philippine National Bank (PNB) has obtained regulatory approval to host outreach and assistance services for Filipino workers in Japan, allowing key government agencies to engage directly with overseas Filipinos within its branch facilities. Under the arrangement, the Social Security System (SSS) and the Pag-IBIG Fund will conduct client assistance, information, and orientation sessions at PNB’s Tokyo and Nagoya branches. …

State-owned Development Bank of the Philippines (DBP) has signed a ₱2-billion loan agreement with the Local Government of Kabankalan City to fund major infrastructure projects aimed at addressing long-standing flooding problems in the area. DBP President and CEO Michael O. de Jesus said the financing was approved under the bank’s Assistance for Economic and Social Development (ASENSO) Program for Local …

By DIEGO C. CAGAHASTIAN Two days before the United States and Israel released the first missiles that assassinated Iran’s supreme leader Ayatollah Ali Khameini, his top generals and family members, along with some 170 schoolgirls in an elementary school in Tehran, Filipino businessman Manny V. Pangilinan gave an interview with Bloomberg about oil and gas exploration in the disputed South …

The Philippines reported a wider trade deficit in February from a year ago as the growth of imports outpaced exports. The gap eased to its lowest level in nine months. Preliminary data from the Philippine Statistics Authority (PSA) showed that the country’s trade-in-goods deficit widened by 23.1 percent to $3.68 billion year-on-year. This reversed the decreases recorded in previous months. …