Business

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 …

The oversupply of residential condominium units, partly caused by the exit of Philippine Offshore Gaming Operators (POGOs), has dampened gains from rental properties, according to Leechiu Property Consultants. Roy Golez, the firm’s director for research and consultancy, said the sharpest drop in rental rates compared to pre-pandemic levels was recorded in the Manila Bay area, which covers Parañaque and Pasay …

The Bangko Sentral ng Pilipinas (BSP) reduced policy rates by another 25 basis points on Thursday, citing a benign inflation outlook but weaker economic growth prospects. The latest adjustment brings the BSP’s Target Reverse Repurchase (RRP) rate to 4.75 percent, with the overnight deposit and lending facility rates now at 4.25 percent and 5.25 percent, respectively. The central bank has …

The Land Bank of the Philippines (LandBank) has introduced a new lending program aimed at empowering micro, small, and medium enterprises (MSMEs) with affordable financing options and capacity-building support. Called the Innovative Financing Thrust Towards Inclusive National Growth thru Micro, Small, and Medium Enterprises (LIFTING MSMEs) Lending Program, the initiative enables borrowers to fund working capital, business expansion, equipment upgrades, …

An economist has partly attributed the surge in foreign direct investments (FDIs) in July 2025 to the implementation of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. Signed into law on November 11, 2024, CREATE MORE seeks to attract more investors to establish operations in the Philippines by offering incentives …

The World Bank has maintained its Philippine economic growth projections for 2025 and 2026, citing strong domestic demand and structural reforms that continue to support expansion. In its October East Asia and Pacific Economic Update, the World Bank forecast the Philippine economy to grow by 5.3 percent in 2025 and 5.4 percent in 2026, outpacing growth expectations for China, Indonesia, Malaysia, and Thailand. The …

The Government Service Insurance System (GSIS) has upgraded its Ginhawa Max Loan Buyout program to help members free themselves from high-interest loans and predatory lenders. GSIS President and General Manager Arnulfo “Wick” Veloso said the enhanced program enables government workers to consolidate and buy out expensive loans with GSIS, offering lower rates and more flexible terms. “The Ginhawa Max Loan …

The Securities and Exchange Commission (SEC) on Friday cautioned the public against persons and groups offering supposed assistance to scam victims through social media platforms, warning that such schemes are meant to defraud them a second time. In a statement, the SEC said these offers circulate via Facebook pages, online groups, and other platforms, and typically involve promises to recover …

The wholesale price index of construction materials in the National Capital Region (NCR) slipped by 0.2 percent in September, the Philippine Statistics Authority (PSA) reported Friday. The decline was slower than the -0.5 percent recorded in August, mainly due to an uptick in the heavily weighted index of concrete products, which rose by 0.2 percent from a 0.6 percent drop …