Business

The Philippines’ total external trade in goods grew by 9.1 percent in January, reaching USD17.82 billion from USD16.32 billion in the same period last year, according to the Philippine Statistics Authority (PSA). Latest data released on Friday showed that imports accounted for 64.3 percent of the total trade value, while exports made up 35.7 percent. Export sales climbed by 6.3 …

The national government’s total revenue collection reached P4.419 trillion in 2024, surpassing the P4.27 trillion target, according to the Bureau of the Treasury (BTr). In a report released Thursday, the BTr noted that revenue collection last year amounted to 16.72 percent of the country’s gross domestic product (GDP), marking the highest revenue effort since 1997. The increase was largely attributed …

The government expects to generate at least ₱2.82 billion from the auction of its shares in United Coconut Chemicals Incorporated (CocoChem), according to a bidding invitation released by the Land Bank of the Philippines (Landbank). The bidding for the national government’s 681,985,073 common shares in CocoChem is set for June 27 at Landbank Plaza in Malate, Manila. The sale will …

The Philippine Deposit Insurance Corp. (PDIC) has announced an increase in the maximum deposit insurance coverage (MDIC) for bank deposits, doubling it from P500,000 to P1 million per depositor per bank. According to Memorandum 2025-01 released on Friday, the higher MDIC will take effect on March 15. “The increase in the MDIC was approved by the PDIC Board of Directors …

Philippine National Bank (PSE: PNB) posted its second year of high consolidated net income of P21.2 billion in 2024, increasing by 18% year-on-year as a result of sustained effort in strengthening the Bank’s core business.  This translated to a return on equity of 10.39% percent, up from the 9.95% posted in 2023. Comprising 83% of total operating income, the Bank’s …

Rizal Commercial Banking Corporation delivered net income of P9.5B for the full year 2024, with double-digit growth of 26% in net interest income and a 40% expansion in consumer loans.  The Bank’s total resources reached P1.4T by end 2024. Net income growth, without the non-recurring gains in 2023, was at 13.6% year-on-year, as core business maintains momentum. The bank’s net …

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Celebrating Progress, Partnership, and Future Growth Castrol and North Trend Marketing Corporation successfully concluded NATCON 2025: Always Forward with Castrol on January 25, 2025, at the Hilton Manila. The annual national convention brought together business partners, industry leaders, and stakeholders to celebrate achievements, strengthen partnerships, and share insights for the road ahead. Welcoming the Year with Progress and Innovation The …

SM Development Corporation (SMDC) is taking significant steps to support the preservation and accessibility of cultural heritage, demonstrating its commitment beyond real estate. This vision is embodied in its landmark ₱100 million commitment over the next three years to support the preservation and enhancement of the National Museum. A significant part of this investment will fund structural improvements and conservation …

Mindanao Container Terminal (MCT), International Container Terminal Services Inc.’s (ICTSI) business unit at the Port of Cagayan de Oro in the Philippines, recently started operating exclusively on solar power during daylight hours. MCT started sourcing solar power on 14 February under a retail supply contract with PrimeRES Energy Corporation within the Philippine energy department’s Retail Competition and Open Access (RCOA) …