Business

The Securities and Exchange Commission (SEC) has expanded its One Day Submission and Electronic Registration of Companies (OneSEC) facility to cover foreign firms seeking to incorporate in the Philippines. SEC Chairperson Francis Lim said the move is part of efforts to improve ease of doing business and attract more international investments. “By expanding the coverage of OneSEC to foreign entities, …

The government vowed to step up efforts to strengthen climate resilience and workforce agility to shield the country’s labor market from future shocks, the Department of Economy, Planning, and Development (DEPDev) said Wednesday. The commitment came after July 2025 labor force data showed weaker conditions due to extreme weather events that disrupted economic activity across Luzon and other regions. The …

Bloomberry Cultural Foundation, Inc. (BCFI), the social development arm of Solaire Resort and Casino, celebrated a milestone in its Medical Scholarship Program, with 20 of its 313 college scholars earning B.S. Nursing degrees. Out of 20 Nursing graduates, 11 received Latin honors while eight received special awards in recognition of their academic and extracurricular excellence. Receiving Cum Laude honors are …

The Social Security System (SSS) has awarded BDO Unibank, Inc. (BDO) the mandate to serve as trustee for its Balanced Fund, marking another milestone in the partnership between the country’s largest pension fund and the biggest bank in the Philippines. At the ceremonial signing, SSS President and CEO Robert Joseph Montes de Claro expressed confidence in BDO’s stewardship. “It is …

The Philippine Deposit Insurance Corp. (PDIC) on Friday cautioned the public against fake official receipts (ORs) being used in transactions involving closed banks under liquidation. According to PDIC, the counterfeit ORs carry the old PDIC logo, contain misspellings, falsified signatures of personnel, and deviate from the standard format of genuine PDIC-issued receipts. The agency reminded clients to transact only with …

Foreign direct investments (FDIs) posted net inflows of USD376 million in June, down 17.8 percent from USD457 million in the same month last year, the Bangko Sentral ng Pilipinas (BSP) reported last week. The decline was mainly due to non-residents shifting their equity capital investments from USD85 million inflows in June 2024 to USD57 million outflows this year. This was …

The Department of Finance (DOF) recently denied reports that South Korea suspended a ₱28 billion official development assistance (ODA) loan to the Philippines due to corruption issues.a “As regards the supposed ₱28 billion ODA loan between South Korea and the Philippines, the Department of Finance categorically clarifies that no such loan exists,” the DOF said in a statement. The agency …

The average rate of the five-year Treasury bond (T-bond) fell to 5.772 percent during Tuesday’s auction, down from 5.896 percent in the July 1 issuance, the Bureau of the Treasury (BTr) reported. Despite the lower rate, the BTr’s auction committee made a full award of P30 billion as bids reached P79.67 billion—more than twice the offer. Rizal Commercial Banking Corporation …

The Land Bank of the Philippines (LANDBANK) is extending the bulk of a P100-billion Syndicated Term Loan Facility to the Power Sector Assets and Liabilities Management Corporation (PSALM) to boost fiscal sustainability and energy sector reforms. LANDBANK committed P60 billion, or 60% of the facility, which will be used to augment PSALM’s working capital, refinance existing liabilities, and settle domestic …

Motorists should brace for another round of pump price hikes this week, with increases projected at ₱1 to ₱1.50 per liter due to global supply concerns. Jetti Petroleum president Leo Bellas said diesel is expected to go up by ₱1.30 to ₱1.50 per liter, while gasoline may climb between ₱1 and ₱1.20, based on the Mean of Platts Singapore (MOPS) …