Business

The Department of Energy (DOE), AboitizPower Corp., and National Power Corp., are studying a proposed memorandum of understanding to undertake a comprehensive feasibility study on potential nuclear plant sites nationwide. This developed as Aboitiz Power Corp. is supporting the government’s push to integrate nuclear power into the country’s energy mix by helping identify potential sites for development. The study will …

Inflation was monitored by the government at 6.8 percent in May 2026 on the back of slower annual increases in the costs of transport, food, housing, water, electricity, and gas, the Philippine Statistics Authority (PSA) reported on Friday. It was slower than the 7.2 percent inflation recorded in April but faster than the 1.3 percent inflation seen in May 2025. …

The United States is again threatening to weaponize its tariffs, this time against 54 economies including the Philippines, that have allegedly failed to effectively enforce policies against forced labor. The Philippines could soon face additional duties of up to 12.5 percent on some of its exports to the US as a result of its failure to enforce measures banning the …

The Philippine banking system continued to expand its asset base, with total assets rising by nearly 12 percent as of April this year, according to data from the Bangko Sentral ng Pilipinas (BSP). Latest figures showed that total banking system assets reached ₱30.1 trillion in April, up 11.8 percent from ₱26.9 trillion recorded in the same period last year. However, …

Digital payments giant Visa has announced that eligible Visa debit and credit cardholders in the Philippines can now add their cards to Garmin Pay, allowing contactless payments through compatible Garmin smartwatches. In a statement last week, Visa said the new feature enables users to make secure and seamless transactions at any contactless-enabled terminal nationwide, expanding the country’s growing digital payments …

Security Bank has entered into a partnership with AC Health subsidiaries I.E. Medica and MedEthix to extend financing support to their nationwide network of dealers and distributors through a dedicated dealer financing program. In a statement last week, Security Bank said the initiative will provide accredited partners with access to short-term revolving credit lines and inventory financing solutions designed to …

Land Bank of the Philippines will waive convenience fees on select online government payments as part of efforts to make public transactions more affordable and accessible amid ongoing economic pressures. In a statement, LandBank said the zero-fee policy will cover eligible person-to-government (P2G) transactions made through QRPh-enabled channels from June 1 to December 31, 2026. The covered payment channels include …

By Tracy Cabrera  June 1 marks the 52nd founding anniversary of the Maritime Industry Authority of the Philippines (MARINA) with the theme ‘Sailing Better, Sailing Safer’.  In her anniversary message, Administrator Sonia Malaluan highlighted MARINA’S long-standing commitment to upgrade the local maritime industry while giving recognition to the agency’s partners who supported its programs of development throughout its five decades …

By Tracy Cabrera  The Maritime Industry Authority (MARINA) is stepping up efforts to promote greater participation of women in the maritime sector, emphasizing that inclusivity is key to building a stronger and more competitive industry. MARINA Administrator Sonia Malaluan said the continued expansion of global maritime trade is opening up more opportunities not only at sea but also in related …

By Heidi Nicodemus  Amid prevailing inflation and rising prices of commodities, the government is actively formulating ways and means to assuage the impact that has struck the citizenry, now overburdened with the spread of social challenges that include mobility and its costs.  With this in mind, the Maritime Industry Authority (MARINA) has rolled out the Lakbay Alalay ng Gobyerno (LAYAG) …