The Market Monitor Minding the Nation's Business

The Government Service Insurance System (GSIS) has allocated P514 million in emergency loans to support 23,469 members and pensioners affected by recent typhoons in Luzon. The financial assistance is available to individuals residing or working in areas declared under a state of calamity, including Quirino, Apayao, Aurora, Santiago City, and Cabagan, Isabela. These areas suffered significant damage due to typhoons …

The Philippine Statistics Authority (PSA) reported Friday that the country’s unemployment rate dropped to 3.9 percent in October, an improvement from 4.2 percent in the same period last year. The National Economic and Development Authority (NEDA) attributed this decline to a strengthening labor market, as total employment rose to 48.2 million, reflecting an increase of 369,000 jobs compared to October …

Japan is extending at least 1.6 billion Japanese yen (approximately P611 million) in defense equipment to the Philippine Navy and Philippine Air Force under its Official Security Assistance (OSA) program for fiscal year 2024. The Philippines is one of four countries selected as beneficiaries of Japan’s OSA this year. This marks the second OSA grant received by Manila, following the …

The National Economic and Development Authority (NEDA) announced that government measures to address inflationary pressures have kept inflation within the target range in November, despite challenges posed by recent typhoons. Data from the Philippine Statistics Authority (PSA) showed that headline inflation in November settled at 2.5 percent, slightly up from October’s 2.3 percent but markedly lower than the 4.1 percent …

Special Assistant to the President for Investments and Economic Affairs (SAPIEA) Frederick Go said the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) will make the Philippines as a favorable exports hub as the law eases doing business and reduces cost of operating in the country. At the National Export Congress 2024 …

The Board of Investments (BOI) has endorsed two renewable energy (RE) initiatives by Nexif Ratch Energy Investments Pte. Ltd. (NREI), with a combined value of P73.9 billion, for streamlined processing under the government’s green lane program. In a statement released Friday, the BOI announced that it had issued a green lane certificate to the P67-billion Lucena Wind Power Project. This …

Canadian businesses eyeing opportunities in the Philippines are set to benefit from the launch of the Export Development Canada (EDC) office in Manila. The state-owned export credit agency officially announced its Manila presence during a plenary session at the Canadian Embassy Thursday last week, coinciding with a Canadian Trade Mission’s visit to the country. “We’ve been thinking about this for …

The Bangko Sentral ng Pilipinas (BSP) said the new polymer banknotes to be released in the first quarter of 2025 will be circulated alongside the existing paper banknotes. “Paper banknotes shall remain legal tender,” the BSP said in a statement last week. In a recent social media post, the BSP announced the issuance of the First Philippine Polymer banknote series. …

The Bangko Sentral ng Pilipinas (BSP) may increase the number of digital banking licenses it plans to issue in 2025, according to Chuchi Fonacier, the BSP’s Deputy Governor for financial supervision. Fonacier explained that while the BSP is open to the possibility of issuing more licenses, any increase would require approval from the Monetary Board (MB). Currently, six digital banks …

Landbank led the roster of government agencies recognized for exemplary service, with 12 of its branches earning top marks in the 2023 Report Card Survey (RCS) 2.0 by the Anti-Red Tape Authority (ARTA). The LANDBANK branches were honored at the ARTA RCS Awards Ceremony at Conrad Manila on 30 October 2024, underscoring the Bank’s collective commitment to providing efficient, high-quality …