Business

Nike expects to incur an additional USD1 billion in costs due to tariffs imposed during the Trump administration, prompting the company to accelerate efforts to diversify its supply chain away from China. “These tariffs represent a new and meaningful cost headwind,” said Matthew Friend, Nike’s chief financial officer, during the company’s earnings briefing on Thursday. “With the new tariff rates …

Filipino consumers are entering the third quarter of 2025 with renewed optimism, buoyed by expectations of better job opportunities, higher incomes, and more stable inflation, according to the latest Consumer Expectations Survey (CES) by the Bangko Sentral ng Pilipinas (BSP). While sentiment in the second quarter remained slightly downbeat—with the overall confidence index (CI) slipping from -13 percent in Q1 …

Combined global vehicle sales of eight major Japanese automakers rose slightly by 0.5 percent year-on-year in May, reaching 2.02 million units, according to data released Friday. Toyota Motor Corp. led the growth with a 6.9 percent increase in global sales, driven by strong demand for hybrid vehicles in North America. Rush purchases in the United States also continued amid concerns …

Finance Secretary Ralph G. Recto and newly appointed Securities and Exchange Commission (SEC) Chairperson Francis Lim have committed to fast-tracking key reform initiatives aimed at improving the ease of doing business and strengthening the country’s capital markets. The SEC, operating under the supervision of the Department of Finance (DOF), plays a crucial role in protecting investors, maintaining fair and efficient …

The Bangko Sentral ng Pilipinas (BSP) expects inflation for June 2025 to fall within the 1.1 to 1.9 percent range, reflecting a mix of upward and downward price movements. “Upward price pressures for the month are likely to be driven by higher meat and vegetable prices, elevated oil prices and the depreciation of the peso,” the BSP said in a …

Eight rural banks will soon pioneer SynerFi, an open payments platform operated by tech firm higala.ph, with 12 more expected to join later this year—advancing the government’s goal of expanding digital financial services to underserved communities. The early adopters of SynerFi include Rural Bank of San Antonio, Inc. (Southern Luzon); Rural Bank of Lipa City (Batangas), Inc.; Progressive Rural Bank, …

The Power Sector Assets and Liabilities Management (PSALM) Corporation has remitted a record-breaking P8.96 billion in dividends to the national government, the Department of Finance (DOF) announced. In a statement last week, the DOF said Finance Secretary Ralph Recto formally received the remittance during a ceremonial turnover held Monday at the DOF office in Manila. “We will make sure every …

Foreign-currency-denominated loans extended by banks dipped by 0.2 percent in the first quarter of 2025, according to data released by the Bangko Sentral ng Pilipinas (BSP). The BSP reported last week that outstanding loans issued by banks’ Foreign Currency Deposit Units (FCDUs) stood at USD15.78 billion in Q1 2025, slightly down from USD15.82 billion in the fourth quarter of 2024. …

BDO Unibank Inc. (BDO) has teamed up with ACEN, the Ayala group’s listed energy platform, to finance what will become the largest onshore wind power project in the Philippines. The project is poised to supply clean and reliable energy to the Luzon grid, cut carbon emissions, and create jobs in host communities. It also marks a major step in ACEN’s …

San Miguel Corporation (SMC) marked five years of cleaning up major rivers and 10 key waterways in Metro Manila and surrounding provinces — removing a total of 8.5 million metric tons of silt and solid waste as of end of June 2025 Project Better Rivers PH was launched in 2020, with the goal of reducing river pollution and help minimize …