Category: Business
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Japanese Companies Eyeing Philippine Market Amid Economic Growth and Reforms
The Japanese Embassy in Manila has noted a surge in interest from Japanese companies looking to tap into the Philippine market, driven by the country’s consistent economic growth and recent policy changes. During the Japanese National Day celebration in Taguig City, Ambassador Endo Kazuya highlighted the significance of the newly passed CREATE MORE law, officially…
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Philippine Central Bank Slashes Reserve Requirements to Boost Economic Growth
The Bangko Sentral ng Pilipinas (BSP) has announced a significant reduction in the reserve requirement ratio (RRR) for various financial institutions, effective from March 28, 2025. This move is aimed at enhancing the flow of funds into more productive sectors of the economy. Universal and commercial banks, along with non-bank financial institutions with quasi-banking functions…
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APECO Seeks Czech Investment to Transform Aurora into Defense Manufacturing Hub
The Aurora Pacific Economic Zone and Freeport Authority (APECO) is actively pursuing investments from the Czech Republic to establish Casiguran as a pivotal center for defense manufacturing in the Philippines. During a recent visit to Prague, APECO officials, including President and CEO Gil Taway IV and Business Development and Marketing Chief Gene Angelo Ferrer, received…
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Philippines Fast-Tracks $65 Million Solar Projects with Green Lane Endorsement
MANILA – The Board of Investments (BOI) has given a significant boost to two solar power initiatives by Upgrade Energy Philippines, Inc. (UGEP), endorsing them for expedited permit and license processing across various government levels. The BOI issued Green Lane Certificates of Endorsement for the PHP2.11-billion Cabangan Solar Project in Zambales and the PHP1.51-billion Pontevedra…
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NAIA’s Modernization Honored at PFI Asia Pacific Awards
The transformation of the Ninoy Aquino International Airport (NAIA) has been celebrated as the Transport Deal of the Year at the Project Finance International (PFI) Asia Pacific Awards held in London on February 20. The accolade highlights the project’s significance, not just for its speed but also for being potentially the largest brownfield airport public-private…
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January Sees Surge in Tax and Customs Revenue, Finance Secretary Applauds Efforts
In a notable financial uptick, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) reported increased collections for January 2025, according to the Department of Finance (DOF). The BIR’s collections soared to PHP350.6 billion, marking a 13.7% increase from the previous year’s January figures. Similarly, the BOC saw its collections rise by…
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CIMB Bank Philippines Climbs to 41st in Global Digital Banking Rankings for 2025
MANILA – CIMB Bank Philippines, a digital-only commercial bank, has achieved a notable 41st position in the World’s Top 100 Digital Banks 2025 ranking, as recognized by The Asian Banker. This prestigious ranking evaluates banks from 42 markets worldwide, focusing on key performance indicators such as customer engagement, market coverage, profitability, and growth in assets…
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Philippines Boosts ITBPM Sector with CREATE MORE Act Implementation
The recent signing of the implementing rules and regulations (IRR) for the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act is set to enhance the stability, cost-efficiency, and attractiveness of the Philippines as a hub for information technology and business process management (ITBPM). The IT and…
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Philippine Stock Market Declines Amid Regional Downturn, Peso Gains Strength
The Philippine Stock Exchange index (PSEi) experienced a decline, reflecting the downturn seen across regional markets, triggered by recent tariff threats from US President Donald Trump. The PSEi dropped by 0.87 percent, closing at 6,066.63 points, while the All Shares index also fell slightly by 0.09 percent to 3,671.62. The only sector to see gains…
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Japanese Company Boosts Philippine Manufacturing with PHP1.8 Billion Investment
In a significant move to enhance its manufacturing capabilities, Japanese company P.Imes Corp. has committed an additional PHP1.8 billion to expand its operations in the Philippines. The investment will specifically target the expansion of the medical equipment suspension assembly production at the Cavite Economic Zone, as announced by the Philippine Economic Zone Authority (PEZA). On…
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