Business

Manila Electric Company (Meralco) customers will face higher electricity bills this March following an increase of P0.2639 per kilowatt-hour (kWh), the company announced last week. This adjustment raises the overall rate to P12.2901 per kWh from February’s P12.0262 per kWh. For households consuming 200 kWh, this translates to an additional P53 on their monthly bill. Meralco attributed the rate hike …

The Department of Finance (DOF) has introduced updated guidelines for the disposal of government assets, aiming to maximize non-tax revenues and streamline privatization efforts. In a statement on Thursday, the DOF said the move aligns with Executive Order No. 323, which established the Inter-agency Privatization Council (PrC) and the Privatization and Management Office (PMO).  The PrC oversees national privatization efforts, …

The Philippine banking sector saw significant growth in total assets, increasing by 9.3% year-on-year to P27.11 trillion as of January, according to data from the Bangko Sentral ng Pilipinas (BSP). This marks a notable rise from P24.81 trillion recorded in the same period last year. Industry experts attribute this growth to the strong profitability of Philippine banks, which have consistently …

Fitch Ratings has upgraded the viability rating (VR) of state-owned Land Bank of the Philippines (LandBank) from ‘bb’ to ‘bb+’, citing the bank’s strong financial standing and resilience. In its latest assessment, Fitch also reaffirmed LandBank’s long-term issuer default rating (IDR) at ‘BBB’/Stable and its Government Support Rating (GSR) at ‘bbb’.  The rating agency highlighted the bank’s systemic importance, full …

The World Bank (WB) has approved two major projects aimed at enhancing transport connectivity and healthcare services in Mindanao and other low-capacity provinces across the Philippines, benefiting at least 19 million Filipinos.  WB Country Director for the Philippines, Malaysia, and Brunei Darussalam Zafer Mustafaoğlu emphasized the bank’s commitment to supporting the Philippines’ inclusive growth and its aspiration to become an …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. expects the Monetary Board “to cut a few more times” this year, noting that a reduction is “on the table” during next month’s policy meeting. Speaking to reporters last week, he said the MB remains in an easing cycle but emphasized that the timing and magnitude of rate cuts will depend …

Total external debt (EDT), or borrowings owed by residents to non-residents, stood at US$137.63 billion as of end-December 2024, down by US$2.02 billion (or 1.4 percent) from the US$139.64 billion level as of end-September 2024.  The external debt ratio (EDT expressed as a percentage of gross domestic product) remains at a prudent level, falling to 29.8 percent from 30.6 percent …

The  “Hail Transport PH”, the newest transport network vehicle service  now revolutionizing ride-hailing in the Philippines was launched.  In a press conference, Atty. Anton Inton, Head for Community Relations and Development, said that hail means that to call up. “In the Hail app, the main difference is that we are focused on safe and reliable transport. Eventually, it”s the drivers …

Matadi  Gateway Terminal (MGT), International Container Terminal Services, Inc.’s (ICTSI) operation in the Democratic Republic of  Congo, is undertaking several key projects this 2025 to enhance operational efficiency and customer service, and reinforce Matadi’s position as the country’s premier maritime hub. One of the major initiatives is the construction of a 2.65-kilometer road linking the Port of Matadi to the …

SM Scholar alumna Dr. Daisy Rosano fulfills her childhood dream of becoming a teacher through the SM Foundation College Scholarship Program. Life’s challenges often serve as the greatest teachers, shaping character in ways that comfort never could. For many Filipino students, financial hurdles make higher education seem out of reach. But with the right support, these challenges become stepping stones …