Business

Money sent home by overseas Filipinos (OFs) continued to climb, rising by 3.2 percent in August 2025 to USD2.98 billion from USD2.89 billion in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported Wednesday. Remittances from land-based workers reached USD2.35 billion, while those from sea-based Filipinos totaled USD626 million. The sustained inflows brought total cash remittances for …

The Bangko Sentral ng Pilipinas (BSP) is carefully studying a proposal to demonetize the ₱500 and ₱1,000 bills to curb their alleged use in illegal activities, Governor Eli Remolona said last week. Remolona described the suggestion from former Finance Secretary Cesar Purisima as a “tantalizing proposal,” but warned that such a move could cause more harm than good. “It’s not …

BDO Unibank Inc.’s (BDO) BDO Kabayan Facebook Page received recognition at the 21st Philippine Quill Awards for excellence in Social Media Strategy. The award highlights BDO’s Alagang Kabayan advocacy—providing accurate, timely, and relevant financial advice and updates that help overseas Filipinos (OFs) and their families manage daily transactions and achieve long-term goals. “We built BDO Kabayan Facebook Page to be …

LANDBANK continues to strengthen its support for farmers and agricultural stakeholders with the regional rollout of the AGRISENSO Plus Lending Program in Palawan, offering low-interest financing and capacity-building assistance to more farming communities nationwide. Over 1,400 farmers from the municipalities of Aborlan, Bataraza, Brooke’s Point, Narra, Quezon, Rizal, and Sofronio Española attended the launch held on October 10, 2025, at …

Businesses in the Taguig City People’s Market are selling goods within or below the government’s suggested retail prices (SRPs), Trade Secretary Cristina Roque said on Thursday. Roque made the statement after the Department of Trade and Industry (DTI) and the Department of Agriculture (DA) jointly conducted a price monitoring activity to ensure that prices of basic necessities and prime commodities …

A ham manufacturer has informed the Department of Trade and Industry (DTI) of a possible price rollback for the Christmas season, Trade Secretary Cristina Roque said last week. Roque declined to identify the company pending price adjustment applications from other manufacturers. “But more of the requests are coming to the DTI now to encourage the manufacturers that there would be …

Energy Secretary Sharon Garin has assured the timely implementation of eight new petroleum service contracts (PSCs) recently approved by President Ferdinand R. Marcos Jr., covering exploration areas across the Sulu Sea, Cagayan, Cebu, Northwest Palawan, East Palawan, and Central Luzon. The Department of Energy (DOE) said the contracts were awarded through a transparent and competitive selection process under the Philippine …

The number of employed Filipinos rose to 50.1 million in August 2025, up from 46.05 million in July, according to the latest Labor Force Survey released by the Philippine Statistics Authority. National Statistician Dennis Mapa said the employment rate stood at 96.1 percent, with the services sector accounting for 61.5 percent of total jobs, followed by agriculture (20.4 percent) and …

Spain-based firms are set to assist in developing a food and cold chain logistics hub inside the Aurora Pacific Economic Zone and Freeport Authority (APECO) in Casiguran, Aurora. APECO president and CEO Gil Taway said the project, which will cover five to 10 hectares, was among the key topics discussed with Spanish engineering firm IDOM Consulting, Engineering, Architecture S.A.U., and …

The construction materials wholesale price index (CMWPI) in the National Capital Region (NCR) dropped by 0.2 percent in September, slightly slower than the 0.5 percent decline recorded in August, the Philippine Statistics Authority (PSA) reported recently. The PSA said the slower decrease was mainly due to higher prices in the heavily weighted index of concrete products, which rose by 0.2 …