Business

The  Shari’ah Supervisory Board (SSB) in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has released the guidelines on the submission of requests for Shari’ah opinions of the SSB. The SSB issues opinions on Islamic banking transactions and products issued by financial institutions and other stakeholders in the BARMM, and when requested by the Bangko Sentral ng Pilipinas (BSP), financial …

Strengthens role in public asset protection for 3rd straight year The Government Service Insurance System (GSIS) has once again outperformed its non-life insurance premium target—marking its third straight year of exceeding goals and reinforcing its crucial role in protecting public assets nationwide. For 2024, GSIS posted P10.5 billion in non-life insurance premiums, significantly surpassing its P8.9 billion target. This follows its strong …

Despite global economic uncertainties, Ayala Corporation remains confident about its growth trajectory, following its strongest financial performance to date. During a media briefing held in Makati City on Friday, Ayala Corp. President and CEO Cezar Consing said the company is poised to build on its 2024 momentum, when it recorded an all-time high core net income of P45 billion. Asked …

Philippine shares rallied on Friday, recovering losses triggered by former U.S. President Donald Trump’s reciprocal tariff announcement earlier this month. The local currency also extended its gains against the U.S. dollar. The Philippine Stock Exchange index (PSEi) surged by 1.79 percent to close at 6,268.75, while the broader All Shares index climbed 1.02 percent to 3,695.69. According to Rizal Commercial …

The Philippine franchising industry is expected to post an eight to 10 percent revenue growth this year, reaching approximately P800 billion, with the food segment continuing to lead the charge despite global market uncertainties. At the International Franchise Conference held at the SMX Convention Center in Pasay City, Philippine Franchise Association (PFA) chairperson Christopher Lim shared the group’s latest outlook, …

Clean energy firm First Gen Corp. has entered into an agreement with Japanese multinational Sanyo Denki Co. Ltd. to supply 100-percent renewable energy to its facilities in the Philippines. In a statement issued last week, First Gen said it will provide electricity from its geothermal plant in Negros Oriental to power four Sanyo Denki Philippines factories operating within the Subic …

The National Economic and Development Authority (NEDA) Board, led by President Ferdinand R. Marcos Jr., has approved a new program aimed at addressing food insecurity and undernutrition across the country. In its final meeting before transitioning into the Economy and Development (ED) Council under Republic Act 12145, the NEDA Board gave the green light to the Reducing Food Insecurity and …

Tanduay Distillers, Inc. (TDI) achieved a milestone in 2024 by posting a record net income of P2.15 billion, marking a 37% increase from the previous year’s P1.57 billion. The impressive growth was powered by higher sales volumes—up 2% for liquor and 1% for bioethanol—as well as strategic pricing adjustments that pushed segment revenues to P33.85 billion, up by 13%. Despite …

The Bangko Sentral ng Pilipinas (BSP), through its policy-making Monetary Board, has approved key amendments to foreign exchange (FX) regulations that are expected to enhance Filipinos’ access to hedging tools while helping deepen the local capital market. Outlined in BSP Circular No. 1212, the revised regulations expand the list of allowable FX hedging instruments involving the Philippine peso. Previously, only …

BDO Unibank Inc. remains upbeat about its performance prospects for 2025 despite headwinds from global economic uncertainties, expressing confidence in the resilience of the Philippine economy to support sustained growth. BDO President and Chief Executive Officer Nestor Tan said during a briefing on Friday that the bank’s strong start in the first quarter—marked by a net income of PHP19.7 billion, …