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 …
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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 …
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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 …
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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 …
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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. …
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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 …
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Immerse yourself in a world where Filipino culture, history, and mythology meet cutting-edge game design in CCP Pasinaya 2025 Open House Festival: Para sa Lahat. The country’s biggest multi-arts festival gets even more exciting with Palaro, a new festival component featuring the works of the CCP Game and Comics Development grantees on February 1 and 2, 2025. Palaro, bringing Filipino …
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Usher in the Year of the Snake with a festive celebration of prosperity, good fortune, and exquisite flavors at Taal Vista Hotel. This Chinese New Year, Veranda restaurant invites you to indulge in a bountiful buffet featuring an array of delectable dishes meticulously curated for this special occasion. The menu promises a harmonious blend of flavors, symbolizing prosperity, joy, and …
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By Jinky Jorgio President Ferdinand R. Marcos Jr. will provide adequate funds for the National Irrigation Administration (NIA) to support the country’s irrigation programs. In a meeting with NIA Administrator Eduardo Eddie Guillen and officials at Malacañang Palace last week, Marcos emphasized the importance of constructing large dams not only for irrigation but also for other purposes. Under NIA’s 2025 …
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Following its successful recovery of Camp John Hay in Baguio City, the Bases Conversion and Development Authority (BCDA) is now moving forward with plans to unleash the full potential of this economic zone, with investments seen to reach Php10 billion. The BCDA is conducting a review of the comprehensive master plan of the John Hay Special Economic Zone (JHSEZ) to …
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The Market Monitor Minding the Nation's Business