Business

The Philippines and Chile are accelerating efforts toward a Comprehensive Economic Partnership Agreement (CEPA), following a bilateral meeting between trade officials held in Jeju, South Korea. In a statement released Friday, the Department of Trade and Industry (DTI) said Trade Secretary Ma. Cristina Roque met with Chilean Vice Minister of Trade Claudia Sanhueza on May 15 during the Asia-Pacific Economic …

The Department of Energy (DOE), in partnership with the United States Agency for International Development (USAID), formally handed over three Mobile Energy Systems (MES) to the National Power Corporation–Small Power Utilities Group (NPC-SPUG) on Friday. Developed through the USAID Energy Secure Philippines program, the MES units are mobile, solar-powered platforms equipped with battery storage and designed to supply electricity in …

Snack food giant Monde Nissin Corp. is gearing up to begin construction of a large-scale manufacturing facility in northern Luzon, with initial operations targeted between 2026 and 2027. In a virtual briefing held last week, Monde Nissin Chief Financial Officer Jesse Teo shared that the new plant is intended to expand production of its well-known biscuit brands, including SkyFlakes and …

The Philippine Amusement and Gaming Corporation (PAGCOR) has turned over P12.67 billion in dividends to the National Treasury, representing 75 percent of its net income for 2024. The amount significantly exceeds the 50 percent remittance requirement under Republic Act 7656, or the Dividends Law. “Our 75 percent dividends remittance is in line with Finance Secretary Ralph Recto’s directive to government-owned …

Shell Pilipinas Corporation (SPC) remains optimistic about sustaining business growth despite persistent local and global economic challenges. In a recent disclosure, the company reported a net income of P740 million for the first quarter of 2025, down from P1.4 billion in the same period last year, due to heightened market competition and volatility. However, core earnings grew by 26 percent, …

The Bangko Sentral ng Pilipinas (BSP) will temporarily halt the operations of its Coin Deposit Machines (CoDMs) starting June 17 as part of an initiative to reassess its strategy for re-circulating idle coins. In an advisory issued Friday, the BSP announced that the machines, currently located in select malls across the Greater Manila Area, will be suspended to allow a …

The total resources of the Philippine financial system grew by 6.7 percent year-on-year as of end-March 2025, according to data released Friday by the Bangko Sentral ng Pilipinas (BSP). Figures show that combined resources of banks and non-bank financial institutions reached P34.29 trillion in March, up from P32.11 trillion in the same period last year. Banking institutions accounted for a …

The Department of Finance (DOF), in collaboration with the United Nations Development Programme (UNDP) and supported by the Government of Canada, has introduced a new initiative aimed at expanding green and climate finance through nature-based solutions (NbS) in the Philippines. In a statement released last week, the DOF announced the launch of NatureNest, a six-month accelerator program under the “Accelerating …

Bloomberry Resorts Corporation, whose subsidiaries own and operate Solaire Resort Entertainment City, Solaire Resort North , and Jeju Sun Hotel and Casino,  reported an increase of 14 percent in its Gross Gaming Revenue (GGR) — from P14.8 billion to P16.8 billion —  in the first quarter of 2024. Based on its unaudited consolidated financial results for the three months ending …

International Container Terminal Services, Inc.’s (ICTSI) Baltic Container Terminal (BCT), Gdynia, acting in coordination with the Port of Gdynia Authority, has completed Phase 1 of a two-phase major upgrade of its Helskie Quay. The project, implemented over 400 meters of quay line, represent an important step in the Port of Gdynia’s goal to accommodate larger vessels. This objective will become …