Business

The Philippine gaming industry earned ₱215 billion in gross revenues during the first half of 2025, reflecting strong growth in integrated resort operations and robust investor interest, the Philippine Amusement and Gaming Corp. (PAGCOR) announced last week. Speaking at the Philippine Hotel Connect 2025 in Pasay City, PAGCOR Chairman and CEO Alejandro Tengco said licensed casinos inside integrated resorts (IRs) …

The Bureau of Internal Revenue (BIR) has extended the deadlines for filing tax returns, paying taxes, and submitting documents in areas battered by tropical cyclones Crising, Dante, and Emong, along with the intensified southwest monsoon or “habagat.” In a statement released Friday, BIR Commissioner Romeo Lumagui Jr. said taxpayers in the affected areas—including Metro Manila, parts of Northern Luzon, Mimaropa, …

US-based Cerberus Capital Management is set to invest an additional ₱15 billion in the Philippines over the next 12 months, eyeing upgrades to its Subic shipyard and launching new ventures in logistics, energy, and transport infrastructure. The announcement came following the firm’s meeting with President Ferdinand R. Marcos Jr. in Washington, DC, where executives cited government support and encouraging operational …

Trade Secretary Cristina Roque remains hopeful that tariffs on Philippine exports to the United States could still be reduced, even as the rate has been officially set at 19 percent effective August 1, following an announcement by US President Donald Trump. While the current rate is lower than the previously announced 20 percent, it is still higher than the 17 …

Government revenues continued to climb in June 2025, driven by double-digit growth in tax collections, while public spending also rose to support economic activity, data from the Bureau of the Treasury (BTr) showed. Revenue collections in June hit ₱306.9 billion, up 3.5 percent from ₱296.5 billion in the same month last year. Tax collections rose by 12.35 percent to ₱280.1 …

After nine months of consultations, the Philippine Amusement and Gaming Corporation (PAGCOR) and the Ad Standards Council (ASC) on July 16 signed a landmark Memorandum of Understanding (MOU) that mandates the pre-screening and regulation of gambling-related advertisements across all media platforms. PAGCOR Chairman and CEO Alejandro H. Tengco and ASC Chairperson Golda Roldan led the ceremonial signing at the PAGCOR …

The long-awaited North-South Commuter Railway (NSCR) project is gaining full steam ahead. In a major infrastructure push, the Economy and Development (ED) Council, chaired by President Ferdinand R. Marcos Jr., approved last week the operations and maintenance of the NSCR under a public-private partnership (PPP) arrangement. The approval came during a high-level council meeting, with the Department of Economy, Planning, …

Money sent home by overseas Filipinos (OFs) continued its upward trajectory in May 2025, with cash remittances rising by 2.9% to USD2.66 billion, according to the Bangko Sentral ng Pilipinas (BSP). The figure is higher than the USD2.58 billion recorded in the same month last year. Land-based workers sent the bulk of the remittances at USD2.12 billion, while sea-based workers …

The Subic Bay Metropolitan Authority (SBMA) turned over P1.47 billion in dividends to the national government on July 14, a move hailed by the Department of Finance (DOF) as a major boost to public funding without burdening taxpayers. Finance Secretary Ralph Recto described the remittance as a product of “shared success,” highlighting its alignment with President Ferdinand R. Marcos Jr.’s …

Global cybersecurity firm Kaspersky has sounded the alarm on the growing number of financial phishing attacks, particularly those tied to cryptocurrency scams and targeting financial institutions—including thousands in the Philippines. In a statement released Monday, Kaspersky disclosed that it blocked over 10.7 million financial phishing attempts around the world in 2024, reflecting an 83% jump from the previous year. In …