Business

The US-based World Bank (WB) last week sharply lowered its forecast for the Philippine economy, warning that rising uncertainty and the continuing global oil shock have dragged the country`s economy. In its latest Philippine Economic Update, the Washington-based lender now expects the country’s economy to expand 3.7 percent in 2026, a steep downgrade from the 5.3 percent growth it projected …

LANDBANK and the City Government of Naga have partnered to launch new joint initiatives aimed at boosting local entrepreneurs and government employees through expanded financing, business development support, and digital financial services. Formalized on July 24, 2026, by LANDBANK President and CEO Lynette V. Ortiz and Naga City Mayor Leni G. Robredo, the collaboration introduces the LIFTING MSMEs Lending Program …

Legislative reforms for a stronger deposit insurance system. The Philippine Deposit  Insurance Corporation (PDIC) is pursuing legislative reforms to amend its Charter and  ensure a deposit insurance system that is broader in coverage, faster in response, stronger  in times of crisis, and worthy of public trust. This was shared by PDIC President and CEO  Roberto B. Tan (inset and 2nd …

Boracay Water has reinforced its El Niño mitigation strategies to ensure a stable and reliable water supply across Boracay Island despite prolonged dry conditions. Operating with a robust production capacity of 25 million liters per day against an average demand of 10 MLD, the utility utilizes real-time river level monitoring of the Nabaoy River, intensified leak detection, and pressure management …

Growth in bank lending and domestic liquidity slowed in June as businesses and consumers turned more cautious in borrowing despite continued expansion in economic activity, according to the Bangko Sentral ng Pilipinas (BSP). Data released by the BSP showed outstanding loans extended by universal and commercial banks reached ₱14.88 trillion in June, up 9.8% from a year earlier but slower …

Philippine National Bank (PNB) posted a 17% increase in net income to ₱14.6 billion in the first half of 2026, driven by higher lending, stronger fee-based income and improved asset quality. The bank’s return on equity improved to 12.1% from 11.4% a year earlier as operating revenue increased by ₱3.3 billion. Net interest income rose 7%, supported by a 12% …

LANDBANK has expanded its support for local governments in the Visayas, extending ₱33.4 billion in financing while strengthening its digital banking network to help cities fast-track infrastructure projects, improve public services and promote inclusive economic growth. The state-run bank highlighted its financing and digital solutions during the League of Cities of the Philippines’ 82nd National Executive Board Meeting and 2nd …

More than 1,000 Dumagat-Remontado families in the mountainous areas of Quezon are set to benefit from a solar lighting initiative aimed at improving daily life in off-grid communities, as BDO Life marks its 50th anniversary with a program that combines financial protection with community development. Through its “Lights for Life” campaign, BDO Life has partnered with One Million Lights Philippines …

Seven Philippine publicly listed companies have earned spots in Forbes Asia’s “Best Under a Billion” 2026 list, which recognizes 200 top-performing small and mid-sized companies across the Asia-Pacific region. The annual ranking features companies with annual sales ranging from $10 million to $1 billion that have demonstrated strong financial performance and sustained growth. Among the Philippine firms included this year …

Manila Electric Company (Meralco) chairman Manny V. Pangilinan warned that the power industry in the country “may not survive” if utility companies alone shoulder the costs of system loss charges. “The bill is too big for the industry to absorb all of it. So, there’s got to be that discussion. It’s going to impact the entire power industry in this …