Business

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 …

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 …

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 …

The Bangko Sentral ng Pilipinas (BSP) has launched an investigation into unusually large cash movements in the financial system, which may be linked to alleged anomalies in government flood control projects. “This flood control scandal was as much of a shock to us as it was to you. But we’re working hard to fix things,” BSP Governor Eli M. Remolona …

The Philippine Deposit Insurance Corporation (PDIC) is rolling out its e-Portal project to modernize services and make them more accessible, the state deposit insurer announced last week. Designed as a one-stop, web-based platform, the initiative will integrate PDIC’s data systems and service processes, while also upgrading its website for improved responsiveness. The platform will feature seamless fund transfers, paperless payments …

Legazpi Savings Bank (LSB), a subsidiary of the Bank of the Philippine Islands (BPI), has opened three new branch-lite units in northern Luzon to make financial services more accessible to teachers. The new outlets are located in San Fernando, La Union; La Trinidad, Benguet; and Tuguegarao City, Cagayan. Together, these areas have more than 85,000 teaching and non-teaching personnel and …

The Philippines is emerging as a strong player in the booming global wellness economy, and the SM Group has announced its plans to position itself to meet growing demand by expanding access to health, beauty, and wellness products. Citing Global Wellness Institute data, SM noted that the global wellness economy is projected to reach nearly USD 9 trillion by 2028, …

The country’s ocean-based industries breached the ₱1 trillion mark in 2024, contributing nearly 4 percent to the national economy, according to the Philippine Statistics Authority (PSA). PSA data showed the ocean economy expanded by 4.7 percent to ₱1.01 trillion from ₱962.49 billion in 2023, accounting for 3.8 percent of gross domestic product (GDP) at current prices. Sectors that posted the …

The Department of Trade and Industry (DTI) has extended to Dec. 31 the registration deadline for the E-Commerce Philippine Trustmark, giving micro, small, and medium enterprises (MSMEs) more time to comply. DTI Secretary Cristina Roque stressed the badge is meant to protect legitimate businesses from scammers and boost consumer confidence. “The Trustmark is not a regulation to burden businesses but …

The Philippines has reached its highest-ever spot in the Global Innovation Index (GII), climbing to 50th place out of 139 economies in the 2025 report released by the World Intellectual Property Organization (WIPO). The Department of Economy, Planning, and Development (DEPDev) on Thursday said the milestone surpasses the government’s 2025 target of 52nd place under the Philippine Development Plan 2023-2028. …