Business

The Philippines is now classified as an upper-middle income country (UMIC) by the World Bank, reflecting the economy’s broad-based expansion. The World Bank’s latest country income classification showed the Philippines posted a record gross national income (GNI) per capita of $4,850. This was higher than the GNI per capita of $4,470 last year, when the Philippines narrowly missed the UMIC …

Leaders of the telecom industry have realized that their efforts to defeat illegal networks and infrastructure theft should be firm and united. Converge ICT Solutions Inc. CEO and co-founder Dennis Anthony Uy disclosed that he has been meeting with other industry leaders recently to talk about the protection of telco assets. The meeting revolved around how the public and private …

Once again, the government turned to borrowing to fund its operations.  People are wondering how the administration of President Ferdinand Marcos Jr. would be able to pay back these loans. The Bureau of Treasury has announced that the outstanding  debt of the national government of the Philippines is at P18.55 trillion as of end of May 2026, indicating a 0.41% …

Japanese businesses in the Philippines will soon experience a heightened adoption of solar energy solutions. This became clear as MSpectrum Inc., a subsidiary of Manila Electric Co. (Meralco), has formed a joint venture with two Tokyo-based firms to accelerate the solar adoption of Japanese businesses in the Philippines. The Meralco unit will establish MSpectrum Taiyo Inc. with Tokyo Century Corp. …

The Philippine Space Agency (PhilSA) and the Commission on Filipinos Overseas (CFO) have entered a partnership to advance space science and technology among Filipino youth and strengthen ties with the overseas Filipino community. The collaboration was made official through a Memorandum of Understanding (MOU) signed on June 18, by PhilSA Director General Gay Jane P. Perez, Ph.D., and CFO Chairperson …

The Secretariat of the World Trade Organization (WTO) has said that structural challenges continue to weigh on the country’s competitiveness, particularly high logistics expenses and regulatory bottlenecks. This, as the WTO recognized that the Philippines made progress in lowering trade barriers and attracting investments over the past several years, but sustaining those gains will require deeper reforms to reduce logistics …

Filipino consumers will have the freedom to choose their own electricity supplier as the Energy Regulatory Commission (ERC) has lowered the minimum required consumption to 100 kilowatts (kW) from 500 kW. In a statement, the commission said the lowering of the threshold under the retail competition and open access (RCOA) and the retail aggregation program (RAP) took effect on June …

The Securities and Exchange Commission (SEC) has proposed changes to debt securities rules that would simplify bond issuances, lower compliance costs and give companies faster access to long-term funding while maintaining investor protection standards. “Over the years, our public offering framework has largely evolved around equity issuances,” SEC Chairman Francisco Ed. Lim said in a statement. “While this approach responded …

The Department of Trade and Industry (DTI) has announced that the government of The Netherlands is keen on investing in the Luzon Economic Corridor, the AI and microchips hub planned by the US State Department and the Philippines in New Clark City, Capas, Tarlac. The Second Philippines-Netherlands Coordinating Authorities’ Meeting in The Hague, the DTI’s Bureau of International Trade Relations …

The BSP notes Fitch’s assessment and continues to closely monitor risks to credit quality, profitability, liquidity, and capital adequacy. Philippine banks remain well positioned to withstand potential shocks, supported by ample liquidity, adequate capital buffers, and manageable asset quality. While some pressure may emerge in specific borrower segments, risks remain contained, with no evidence of broad-based deterioration. The BSP expects …