Business

East Java Multipurpose Terminal (EJMT), International Container Terminal Services, Inc.’s (ICTSI) operation in Indonesia, successfully welcomed its first container ship since commencing operations at the new deep-water terminal in mid-October. The XinYi Glass made its inaugural call to Indonesia  last Saturday, December 14, selecting EJMT for its container discharge operations.  The cargo is destined for XinYi Glass’s new factory in …

Barcelona, spain – Showcasing the best of what the Philippines has to offer as an ideal Meetings, Incentives, Conferences, and Exhibitions (M.I.C.E.) destination, the Tourism Promotions Board (TPB) Philippines participated in IBTM World 2024 from November 19 to 21 at Fira Barcelona Gran Via, which yielded 203M sales leads. IBTM World is one of the leading global M.I.C.E. events held …

The Philippine Postal Corporation (PHLPost) has reduced its fuel price consumption and the price of gasoline at nearly half of the cost it pays in previous years relying heavily on fuel for its fleet of mail delivery vehicles and motorcycles nationwide.  Postmaster General Luis D. Carlos said the move to reduce fuel prices will impact sustainability in the continuous delivery …

The Philippine manufacturing sector closed 2024 on a strong note, fueled by robust growth in output and new orders, according to a report by S&P Global on Thursday. The country’s manufacturing Purchasing Managers’ Index (PMI) climbed to 54.3 in December, up from 53.8 in November, matching the highest level since November 2017, alongside the PMI recorded in April 2022. “The …

Department of Finance (DOF) Secretary Ralph Recto proposed last week a substantial increase in the benefit packages offered by the Philippine Health Insurance Corporation (PhilHealth) for the country’s 10 most common illnesses. Recto suggested that enhancing these benefit packages would ensure the efficient use of PhilHealth’s resources. He shared this recommendation during a press conference at Malacañang Palace following the …

The Department of Finance (DOF) reported recently that non-tax revenues reached PHP555.30 billion end of November 2024, a 45.6-percent increase compared to the same period in 2023. This made DOF hit an all-time high non-tax revenue collections in 2024, providing additional resources to fund key programs of the Marcos administration, especially in improving the lives of Filipinos. Projections for the …

The Bases Conversion and Development Authority (BCDA) has issued a directive to local government units (LGUs), government agencies, and businesses to cease utilizing the Kalangitan sanitary landfill in Capas, Tarlac, following the expiration of the service contract for the property. In a statement recently, the BCDA emphasized that the Contract for Services between Metro Clark Waste Management Corp. (MCWMC) and …

The International Monetary Fund (IMF) has recognized the Philippines’ significant strides in combating money laundering and terrorism financing. In its latest report, the IMF commended the country’s progress in addressing anti-money laundering and counter-terrorism financing (AML/CFT) issues, noting that these efforts should persist. It also welcomed the Financial Action Task Force’s (FATF) acknowledgment that the Philippines has substantially completed its …

The Land Bank of the Philippines has assured its stakeholders of its financial stability and regulatory compliance following the allocation of P50 billion to the Maharlika Investment Fund (MIF). In a statement released recently, Landbank emphasized that it continues to meet and even surpass the Bangko Sentral ng Pilipinas’ (BSP) minimum Capital Adequacy Ratio (CAR), a critical measure of a …

The Land Bank of the Philippines (LandBank) and the Development Bank of the Philippines (DBP) have demonstrated strong financial performance, putting them in a position to expand services and better support Filipinos, the Department of Finance (DOF) announced recently. The DOF highlighted that both banks have consistently exceeded the Bangko Sentral ng Pilipinas (BSP) minimum capital adequacy ratio (CAR), a …