Business

Philippine liquor company Tanduay Distillers, Inc. is set to expand its global presence in 2025 following significant achievements in 2024.  After successfully entering the Czech Republic and South Korea last year, the company now plans to introduce its products to France, Italy, Spain, Denmark, the Nordic Region, and Latin America. Tanduay’s international reach already spans various markets, including Armenia, Australia, …

The Small Business Corporation (SBCorp), the financing arm of the Department of Trade and Industry (DTI), reported that its revenues in 2024 exceeded P1 billion, its first time to breach the billion-peso mark. SBCorp reported Friday that last year’s revenues more than doubled from the pre-pandemic level of P359 million. Operating income also grew to P431.1 million in 2024 from …

A Taiwanese business delegation visited the Philippine Economic Zone Authority (PEZA) to discuss potential investments in ecozone development, PEZA reported on Friday. The delegation, organized by Taiwan’s Ministry of Economic Affairs and led by International Trade Administration Director General Cynthia Kiang, visited the PEZA office on January 16 to explore collaborative opportunities. “A key focus of the mission was to …

United Arab Emirates state-owned company Masdar has committed to investing USD 15 billion in the Philippines’ renewable energy sector.  This was formalized through an Implementation Agreement signed with the Department of Energy (DOE). The signing took place on January 15 in Abu Dhabi, with DOE Undersecretary Rowena Guevara and Masdar CEO Mohamed Jameel Al Ramahi as signatories.  DOE Secretary Raphael …

Low-cost carrier Cebu Pacific (CEB) reported recently a strong growth in the Clark hub, flying over 1 million passengers via the Clark International Airport (CRK) last year. This is up 36 percent from close to 300,000 passengers in 2023. The Gokongwei-led airline’s average monthly seat grew by 102 percent to 161,000 in December 2024 from 79,000 in January. The average …

The Department of Finance (DOF) clarified that the P107-billion remittance from the Philippine Deposit Insurance Corporation (PDIC) to the national government consists of unrestricted funds, meaning they can be allocated for other purposes without affecting the PDIC’s reserve funds. These funds, which include cash and investment balances, are net of restricted amounts, according to the DOF statement.  The PDIC’s Deposit …

The share of non-performing loans (NPLs) in total loans of Philippine banks fell to a two-month low in November 2024, according to data from the Bangko Sentral ng Pilipinas (BSP) released last week. The NPL ratio in November stood at 3.54 percent, a slight decline from 3.60 percent in October 2024. This marked the lowest ratio since September 2024, when …

The Bureau of Internal Revenue (BIR) surpassed its 2024 collection target, reaching a total of P2.84 trillion, marking the first time in 20 years that it has exceeded its goal. “The BIR has collected at least P2.848 trillion for 2024. All credit belongs to the men and women of the BIR. Mabuhay po kayong lahat!” BIR Commissioner Romeo Lumagui Jr. …

Personal remittances from overseas Filipinos grew by 3.5 percent in November 2024, according to the Bangko Sentral ng Pilipinas (BSP). The BSP’s latest data revealed that personal remittances totaled USD3.12 billion in November, up from USD3.02 billion in the same month last year, driven by higher contributions from both land- and sea-based workers. Personal remittances include cash sent via banks …

The Bureau of Internal Revenue (BIR) attained a milestone achievement by surpassing the P2.848 trillion Emerging Goal target set by the Development Budget Coordination Committee (DBCC) last March 2024. Although the numbers are still being finalized, the BIR confirmed that they have definitely reached the Php 2.848 trillion mark for 2024. “The exact figures will be finalized by around mid-February, …