Business

Department of Energy (DOE) Secretary Raphael Lotilla assured that the agency’s decision to terminate idle renewable energy (RE) contracts will not deter foreign investors but instead foster a more dynamic and efficient RE sector in the Philippines. Speaking at a press briefing in Taguig City last week, Lotilla emphasized that the termination of non-performing contracts aims to attract serious investments …

The Philippine digital lending market is poised to surpass the USD1 billion mark in the latter half of 2025, according to a recent study by licensed online lender Digido. The report highlights the accelerated growth of digital lending in the country, driven by increasing consumer adoption of online technologies. In 2023, the market for non-bank digital loans was valued at …

The Social Security System (SSS) has announced that its contribution increase will secure the fund’s long-term viability, extending its life until 2053. Effective this month, the 1-percent rate hike is mandated under Republic Act 11199, or the Social Security Act of 2018.  The adjustment raises the contribution rate from 14 percent to 15 percent, accompanied by changes in the minimum …

Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. has announced that the central bank is exploring a subscription-based model for digital transaction fees to enhance the efficiency and inclusivity of the country’s payment systems. Speaking at a Rotary Club event in Makati City recently, Remolona explained the rationale behind the proposed shift.  “In a payment system, every additional participant …

Saturnino Mejia has been appointed as the new General Manager of the National Development Company (NDC), succeeding Antonio Mauricio, who has transitioned to the private sector. In a statement released Thursday, the NDC announced that Mejia officially assumed the role on December 16, 2024. Prior to his appointment, Mejia dedicated 25 years to the NDC as Assistant General Manager for …

Bank lending saw its most significant growth in nearly two years, and domestic liquidity also accelerated in November, according to the Bangko Sentral ng Pilipinas (BSP). Preliminary data released by the BSP on Friday revealed that lending by universal and commercial banks (U/KBs) increased by 11.1 percent in November, marking the highest growth since the 13.7 percent rise recorded in …

The Bangko Sentral ng Pilipinas (BSP) is expected to continue its easing cycle this year, though fewer rate cuts are anticipated following signals from the U.S. Federal Reserve about slowing its own rate cuts, according to BMI, a unit of Fitch Solutions. “The BSP is still on track to deliver another 25-basis-point cut at its next meeting. However, the overall …

The Philippines and Japan have extended their Bilateral Swap Arrangement (BSA), securing a deal valued at up to USD12 billion, effective from January 1, 2025, the Bangko Sentral ng Pilipinas (BSP) announced in a statement recently. This renewal was officially confirmed through the signing of the Fourth Amendment and Restatement Agreement of the Third BSA by representatives from the BSP …

What started as a small act of leisure at Casino Plus turned into an extraordinary turn of fate for a single mother. Here’s her true story about resilience, luck, and hope for a brighter future. Mother’s Unyielding Determination In a quiet neighborhood, a devoted mother poured her heart into raising her son, navigating the challenges of single parenthood. Her priority …

As  Filipinos celebrate the holiday season, the Department of Health (DOH) recently called on people to prioritize their well-being by practicing moderation in their food intake and maintaining an active lifestyle.  This is particularly important given that cardio-vascular diseases, specifically ischemic heart disease (IHD), remain the leading cause of death in the Philippines. To provide expanded financial coverage associated with …