Investor jitters over alleged anomalies in government flood control projects dragged the Philippine Stock Exchange index (PSEi) lower for a fifth straight day Friday, while the peso closed flat against the US dollar. The PSEi slipped 0.25% to 6,027.12, while the broader All Shares index shed 0.24% to 3,644.80. Property (-1.55%), Services (-0.88%), and Holding Firms (-0.12%) pulled the market …
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Starbucks announced Thursday that it will slash nearly 900 non-retail jobs and close dozens of stores in North America as part of a restructuring plan to curb costs. The US-based coffee giant said its company-operated store count in the region will shrink by about 1% in fiscal year 2025, bringing the total to nearly 18,300 outlets across the US and …
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The Board of Investments (BOI) is targeting to release the updated 2025–2028 Strategic Investment Priority Plan (SIPP) before the year ends, a senior official said Friday. BOI Investment Promotions Services Executive Director Evariste Cagatan said the refined version, which will require approval from the BOI Board and the Office of the President, will expand the list of sectors eligible for …
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Two subsidiaries of D&L Industries, Inc. have secured a two-year extension of their Income Tax Holiday (ITH) for their manufacturing facilities in Tanauan, Batangas. In a disclosure to the Philippine Stock Exchange on Friday, D&L said the Philippine Economic Zone Authority (PEZA) granted Pioneer Status to D&L Premium Foods Corp. (DLPF) and Natural Aeropack Corporation (NAC), moving their ITH expiry …
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Residential real estate prices in the Philippines rose by 7.5% in the second quarter of 2025, slightly slower than the 7.6% increase recorded in the first quarter, the Bangko Sentral ng Pilipinas (BSP) reported Friday. Areas Outside the National Capital Region (AONCR) drove the growth with an 11.5% increase, while prices in Metro Manila rose by 2.4%. By housing type, …
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The Aurora Pacific Economic Zone and Freeport Authority (APECO) has partnered with medical device distributor Freya to equip and train personnel for its ₱16.83-million Super Health Center in Casiguran, Aurora, which is expected to open this December. APECO president and CEO Gil Taway IV and Freya managing director Emmanuel Cueto formalized the agreement in Parañaque City on Thursday. Taway said …
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The Philippines and Singapore have started negotiations to update their nearly five-decade-old Double Taxation Agreement (DTA), the Department of Finance (DOF) announced Thursday. The first round of talks was held in Manila from Sept. 2 to 4, covering measures to eliminate double taxation on income and prevent tax evasion and avoidance. Finance Secretary Ralph Recto said the review is long …
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Warehouse club chain Makro is set to return to the Philippines after Ayala Corporation sealed a partnership with Thailand’s CP AXTRA, a leading wholesale and retail operator in Southeast Asia. In a disclosure to the Philippine Stock Exchange last week, Ayala said it has formed M&Co Corporation, a joint venture between its unit AXC Holdings Corp. and CP AXTRA subsidiary …
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The Bangko Sentral ng Pilipinas (BSP) announced it will stop accepting new applications for digital bank licenses starting December 1, 2025, following the Monetary Board’s approval of a fresh moratorium on September 18. Interested firms have until end-November to file complete submissions, which will be assessed on a first-come, first-served basis. The BSP stressed that incomplete or non-compliant applications will …
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The Asian Development Bank (ADB) reaffirmed its support for the Philippines’ economic expansion through policy reforms and infrastructure financing, ADB Country Director Andrew Jerries said Thursday at the Arangkada Philippines Forum in Pasay City. “As a shareholder, our role is to help,” Jerries said, noting ADB’s nearly six decades of partnership with the Philippines. “It doesn’t stop our work, but …
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The Market Monitor Minding the Nation's Business