Business

Canned sardine manufacturers have decided not to push through with a proposed P3 price increase on their products, the Department of Trade and Industry (DTI) announced, providing relief to consumers amid rising living costs. The decision followed a meeting between Trade Secretary Maria Cristina Aldeguer-Roque and members of the Canned Sardines Association of the Philippines (CSAP), which includes major industry …

The national government’s budget deficit in May narrowed to P145.2 billion, driven by strong revenue growth and moderated spending, according to data released by the Bureau of the Treasury (BTr) on Thursday. This marks an improvement from the P174.9 billion deficit recorded in the same month last year. Revenue collections in May reached P433.1 billion, up by 13.35 percent from …

To enhance consumer protection and align with President Ferdinand R. Marcos Jr.’s vision of building “future-ready” industries, the Department of Trade and Industry (DTI) announced on Friday that it will adopt international safety standards for portable power banks. “With the growing use of power banks and the global surge of battery-related incidents … we must ensure that only safe, reliable …

The country’s economic managers have revised the growth forecast for 2025, citing escalating global risks and trade tensions.  Following the 191st Development Budget Coordination Committee (DBCC) meeting, Budget Secretary and DBCC Chair Amenah Pangandaman announced that the GDP growth assumption for next year was adjusted to 5.5 to 6.5 percent, down from the earlier target of 6 to 8 percent.  …

The country’s total gross savings climbed by 16.6 percent to P7.70 trillion in 2024, up from P6.60 trillion the previous year, according to the latest figures released by the Philippine Statistics Authority (PSA). Gross savings represent the difference between gross disposable income and final consumption expenditure. Among the four major institutional sectors, non-financial corporations accounted for the bulk of the …

The Bangko Sentral ng Pilipinas (BSP) has been named Currency Manager of the Year by Central Banking, a renowned London-based institution that provides insights and training to more than 140 central banks and their partners across the globe. In a statement released last week, the BSP shared that the award was announced on March 20, 2025, with the formal ceremony …

Nestor V. Tan, President and CEO of BDO Unibank Inc., has been elected President of the International Monetary Conference (IMC) for the 2025–2026 term. His election took place during the IMC’s annual meeting in Brussels, Belgium. The IMC is a prestigious, non-profit organization made up of the Chairpersons and CEOs of 58 of the world’s largest financial institutions from 31 …

HSBC economist Aris Dacanay expects the Bangko Sentral ng Pilipinas (BSP) to deliver a third and final policy rate cut for the year this October, trimming its benchmark interest rate by 25 basis points to 5 percent. This follows back-to-back rate cuts by the BSP’s Monetary Board, including a 25-basis-point reduction last June 20 that brought the reverse repurchase rate …

As part of its  efforts to adopt more sustainable technologies.the Manila International Container Terminal (MICT), the flagship terminal of  International Container Terminal Services, Inc. (ICTSI), deployed two fully electric terminal tractors recently.  Christian Lozano, MICT chief executive officer, said it is the first deployment of such equipment in a Philippine port. “The testing of electric terminal tractors is another step …

San Miguel Corporation (SMC)  employees have so far planted or donated a total of 98,296 seedlings across the country  in support of the company’s continuing efforts to help reduce flood risks, improve air and water quality, and revive critical forest areas. A total of 2,457 SMC employees have joined tree-planting activities in 48 locations in Luzon, Visayas, and Mindanao, through …