The Bases Conversion and Development Authority (BCDA) has lured its second industrial park developer for New Clark City in Capas, Tarlac. In a statement released Thursday, BCDA announced that Science Park of the Philippines, Inc. (SPPI) has been awarded a 50-year lease contract to develop a 100-hectare industrial park within the New Clark City. The project, which is estimated to …
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The Philippine economy recorded a 5.2 percent growth in the fourth quarter of 2024, making it the third-fastest growing economy in the region despite facing challenges like geopolitical tensions and a series of typhoons. This growth brought the country’s overall economic expansion for the year to 5.6 percent. National Economic and Development Authority (NEDA) Undersecretary Rosemarie Edillon acknowledged that the …
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The Philippine tobacco industry likely generated USD7.3 billion in revenue in 2024, according to Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. He made this announcement during the second day of the International Tobacco Agricultural Summit at SEDA Vertis North in Quezon City. Lumagui noted that the local tobacco sector is expected to grow at an annual rate of …
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A financial close has been reached for the joint acquisition deal involving the country’s largest power companies, owned by prominent tycoons Manuel V. Pangilinan, Sabin Aboitiz, and Ramon S. Ang, for a liquefied natural gas (LNG) terminal. In a statement last week, Manila Electric Company (Meralco) announced that its subsidiary Meralco PowerGen Corporation (MGEN), along with San Miguel Global Power …
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Land Bank of the Philippines (LandBank) has launched its first “phygital” branch in Metro Manila, combining physical and digital banking services to enhance customer experience. In a statement on Friday, LandBank announced that the Makati Business Center – Ayala Avenue Phygital Branch opened on January 30 at Robinsons Summit Center in Makati City. This modernized branch integrates digital innovations with …
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Most banks upheld their existing credit standards in the fourth quarter of 2024, according to the Bangko Sentral ng Pilipinas (BSP). Findings from the Senior Bank Loan Officers’ Survey (SLOS), released on Friday, revealed that the majority of surveyed banks kept their lending policies unchanged for both business and consumer loans, based on the modal approach. However, using the diffusion …
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The Asian Development Bank (ADB) has approved a $500 million policy-based loan to support the Philippine government’s efforts in expanding labor market programs and boosting workforce skills. According to the ADB, the Business and Employment Recovery Program-Subprogram 2 aims to equip Filipino workers with industry-relevant skills, enhance women’s participation in the labor force through technical and vocational education and training …
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Sunshine Place collaborates once more with artist Sir Jen Consumido to offer Fundamentals of Drawing Workshop from February 4 – March 11,2025. The course focuses on an academic approach in learning about traditional drawing, aiming to impart knowledge and techniques for developing drawing skills using various traditional media. The objective is to enhance observation skills, while also guiding students to …
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The Department of Trade and Industry (DTI) is optimistic about pursuing a bilateral free trade agreement (FTA) with the United States under the renewed Trump administration, according to Undersecretary Ceferino Rodolfo. Speaking at an event in Makati City last week, Rodolfo noted that President Donald Trump’s track record suggests a stronger possibility of advancing talks on a PH-US FTA during …
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The Department of Finance (DOF) has issued a Joint Administrative Order (JAO) to combat smuggling, misdeclaration, and undervaluation of imported goods through streamlined customs procedures and enhanced inspection systems. The DOF released JAO No. 001-2025 to set in motion Administrative Order (AO) No. 23, which establishes a Digital and Integrated System for Pre-border Technical Verification and Cross-border Electronic Invoicing. This …
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The Market Monitor Minding the Nation's Business