FOREIGN direct investment (FDI) net inflows reached an all-time high of $10.5 billion in 2021 as the country benefits from positive investor sentiment due to anticipated economic recovery from pandemic, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday.
OVER two months since the world’s biggest trade pact entered into force, the Department of Trade and Industry (DTI) remains hopeful that the Philippines will soon finish its ratification process to reap the benefits of the regional economic deal.
MAJORITY of the local micro, small and medium enterprises (MSMEs) fail to secure loans due to stringent lending measures—and they end up asking family and friends for additional financing instead to keep their businesses running, according to a study by a cloud banking platform Mambu.
The government and private sector recently inked a memorandum of understanding (MOU) to craft a cold chain integrated supply chain solution, the Department of Trade and Industry (DTI) reported on Thursday.
SMALL Business Corp. (SB Corp.) expects to receive more loan applications from the tourism sector following the easing of quarantine measure that allowed more mobility for travel.
The local automobile manufacturers saw their sales dip by 7.3 percent in February after selling fewer passenger cars (PC), according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (Campi) and Truck Manufacturers Association (TMA).
THE Department of Trade and Industry (DTI) counseled calm—for now—as the price hike on basic necessities and prime commodities due to Ukraine-Russia conflict will only be felt after three months.
The Anti-Red Tape Authority (Arta) seeks to automate its complaints management system within the first quarter amid the accelerated shift to digitalization amid the pandemic.
The Board of Investments (BoI) has given its nod to Ipolymer Solutions Corp.’s P9.6-million face mask manufacturing project in Caloocan City.
Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion raised the need to keep the country under Alert Level (AL) 1 for the rest of the year in a bid to cushion the impact of the Ukraine-Russia conflict on the Philippine economy, which is being threatened by rising prices of fuel and other commodities.
THE Philippine Competition Commission (PCC) urged aggrieved residents to come forward and report if their property developers are offering exclusive Internet deals, preventing them from subscribing to other service providers.
Local e-commerce startup SariSuki, founded by former Grab Philippines country head Brian Cu, raised $10.7 million in funding from regional and global investors.
PRESIDENTIAL Adviser for Entrepreneurship Jose Maria A. Concepcion raised the need to allow the economy to recover first—as business activities have been generally muted in the past two years—before considering a wage hike.
The Philippines is seen to benefit from the increasing demand for green metals—such as nickel, cobalt and copper—coming from the production of electric vehicles (EVs) and battery supply chains, the Department of Trade and Industry (DTI) said.
THE Bangko Sentral ng Pilipinas (BSP) is likely to keep policy rates at 2 percent in the first half given the current domestic liquidity level, according to First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P).
THE easing of mobility restrictions paved the way for higher manufacturing output growth last month, the Department of Trade and Industry (DTI) said.
FINANCIAL technology (fintech) groups called on digital wallet and account owners to be responsible users during the election season, advising them to not “misuse” their platforms for vote-buying and vote-selling.
WITH the transition to Alert Level 1, the Department of Trade and Industry (DTI) is encouraging further on-site work setup to fuel consumer spending that can help propel the economy towards recovery.
While there have been delays, Trade Secretary Ramon Lopez said the signing of the country’s free trade agreement (FTA) with South Korea will be done “soon.”
The Department of Trade and Industry (DTI) assured that no manufacturers have asked yet to increase suggested retail prices (SRP) for basic goods and commodities amid the fuel price hike induced by escalating tension between Ukraine and Russia.
The Department of Trade and Industry (DTI) renewed calls for the establishment of a free trade agreement (FTA) with the United States as the Philippines seeks stronger economic ties, which is seen to benefit the micro, small and medium enterprises (MSMEs).
VICE presidential candidate Francis “Kiko” Pangilinan underscored the need to provide financial assistance to micro, small and medium enterprises (MSMEs) and to ensure efficient tax collection as the economy moves toward recovery from pandemic.
The National Committee on Intellectual Property Rights (NCIPR) seized P24.9 billion worth of counterfeit goods from its inspection and raid operations last year.
SEVERAL local banking economists said the escalating tensions between Russia and Ukraine are set to put pressure on the local economy, particularly through rising inflation and weakening of the currency in the near-term.
THE Trade Facilitation Agreement (TFA) among World Trade Organization (WTO) members has helped global supply chains to carry on, but more needs to be done to allow economies to recover from the pandemic.
THE National Privacy Commission (NPC) reminded the public of their rights when using online lending applications (OLA), which have been on the rise as an alternative access to loans amid the accelerated digital shift in pandemic.
BEFORE shelling out too much money for technologies, companies should first identify their needs when executing their digital transformation plans, an expert has advised.
While reopening the country’s borders to vaccinated tourists will boost tourism revenues, a business leader expressed some concerns on its impact on the country’s initiatives to contain Covid-19.
BUSINESS leaders aired hopes on Monday that the European Union’s (EU) call for the Philippines to address human rights issues—a factor seen potentially affecting their trading relationship—will not be made into a political matter ahead of May’s elections.
THE Philippines sold more strategic goods—or products deemed to have military importance—last year to foreign markets, most of which were shipped to the United States.
FOLLOWING Asean’s launching of trade negotiations with Canada, the local exporters now want to expand their market access to the North American country in a bid to increase their product shipments as they seek recovery from the pandemic.
THE volume and value of trading across the world are expected to go back to normal in 2022 after reaching record level last year, the United Nations Conference on Trade and Development (Unctad) said.
THE Department of Trade and Industry (DTI) is optimistic that the Philippines will retain its market access and trade incentives with the European Union (EU) despite the economic bloc’s recent resolution concerning the country’s human rights situation, a factor that may potentially affect their trading relationship.
THE Tariff Commission (TC) is set to conduct a public hearing this week as part of a formal investigation on the imposition of safeguard measures against the importation of raw materials in the manufacturing of plastic products.
THE Philippine Economic Zone Authority (Peza), which seeks to grow its investment pledges by 6 percent this year, approved P3.48 billion worth of projects in January.
WITH the start of the campaign season, the Intellectual Property Office of the Philippines (Ipophl) reminded the candidates of May 2022 elections and their political parties to adhere to IP laws and properly compensate the owners of copyrighted works used in their promotional paraphernalias.
Kia Philippines has set its sights on selling 6,000 units as the company is more optimistic about the local automotive industry’s prospects for this year.
A Southeast Asian loyalty platform has established its presence in the Philippines following the acquisition of a local online grocery delivery service company.
The enactment of the revised Public Service Act (PSA) is anticipated to spark more investments from German companies and other foreign investors, the German-Philippine Chamber of Commerce and Industry (GPCCI) said.
AUSTRALIAN companies are “well placed” to invest in the local mining industry following the recent lifting of the ban on open-pit mining, the Australia-Philippines Business Council (APBC) said.
Port operators need to further strengthen business continuity protocols and ensure availability of technology for telecommuting employees amid the pandemic, according to the United Nations Conference on Trade and Development (Unctad).
IMPROVED global recovery prospects and the reopening of more countries were cited among the factors for the rise in personal remittances from overseas Filipinos (OF) last year, exceeding pre-pandemic levels and posting an all-time high, as reported by the Bangko Sentral ng Pilipinas (BSP).
Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion urged the government to further ease the mobility restrictions soon, especially with the upcoming summer to encourage travel and other tourism-related spending.
S&P Global Ratings upgraded its outlook for Bank of the Philippine Islands (BPI) to stable from negative on the back of strong capital buffers.
Siam Cement Group (SCG) Philippines registered P16.241 billion in revenues last year on the back of the double-digit growth in its topline in the fourth quarter.
The government needs to ensure the efficient transfer for commuters going to Metro Manila from the provinces under the Integrated Bus Terminal Exchange (ITX) program, the Management Association of the Philippines (MAP) said.
THERE’S a specter haunting consumers in the Asia Pacific region: fraud risks. These risks are on the rise and most of them are due to credit cards as such are the most common payment method in the region, a report by a data and analytics firm said.
A business group is pressing for more lending facilities for micro, small and medium enterprises (MSMEs) to aid their recovery efforts as intermittent lockdown measures to stem the spread of Covid-19 dented operations and profits of these pillars of the economy.
THE Philippine Economic Zone Authority (Peza) has revived its call for a 100-percent work-from-home (WFH) arrangement for the information technology-business process outsourcing (IT-BPO) companies without reducing their fiscal incentives.
The Philippine Economic Zone Authority (Peza) has registered the country’s biggest economic zone in Quezon province which will cost P125 billion.
THE localized ease of doing business (EODB) report should cover the business sustainability aspect and the impact of streamlining the government transaction processes, the Department of Trade and Industry (DTI) said.
The Department of Trade and Industry (DTI) on Monday cautioned against the proposal to do away with the Alert Level System (ALS) as a form of quarantine measure despite the recent decline in Covid-19 cases.
Three in four German companies doing business in the Philippines have set sustainability goals as the majority monitor discussions and developments relating to environment and climate change.
SOUTHEAST and East Asia are leading the world when it comes to cross-border paperless trade, a move that has reduced time and costs for movement of goods in the region, according to a recent report by the United Nations Economic and Social Commission for Asia and the Pacific (Unescap).
More Filipino employees want to work for companies that can provide them with a good retirement plan, but only one in five local companies can do so, according to a recent survey by Mercer.
With metaverse gaining more traction, an industry leader said the game development and fashion industries have more opportunities for collaboration that can showcase Filipino culture.
The Philippines has been urged to further venture into opportunities in the electric vehicle (EV) space whose demand is expected to grow across the globe given the increasing shift to an environment-friendly lifestyle.
The Philippine Competition Commission (PCC) is finalizing a draft memorandum circular that seeks to prevent property developers from limiting their residents’ access to a single or in-house internet service provider (ISP).
THE World Trade Organization (WTO) members reiterated their commitment to finalize the text negotiations this year for agreement on investment facilitation for development (IFD), which is seen to help boost sustainable economic growth in over 100 countries, including the Philippines.
WITH Covid-19 cases recently going down, the Philippine Chamber of Commerce and Industry (PCCI) is hoping for a further reopening of the economy and more mobility.
A nonprofit ocean conservation organization called on current and future government officials to prioritize the health of the ocean, asking for proactive and long-term solutions when it comes to environmental protection.
The Department of Agriculture (DA) has slapped a temporary ban on poultry from Spain and Croatia and pork products from Italy due to the outbreak of animal diseases in the European countries.
The Department of Agriculture (DA) is supporting the country’s economic recovery measures amid the pandemic through its food production agenda, which is aimed at addressing hunger.
THE supply chain sector is anticipating another year of costly operations not only because of pandemic-induced disruptions but also due to investments in innovative measures to keep the industry resilient.
THE Philippine Chamber of Commerce and Industry (PCCI) has asked the government to provide free Covid-19 antigen test kits to the public to curb the spread of the virus amid the recent easing of quarantine measures.
THE country may forgo the use of the Alert Level System (ALS) in curbing the Covid-19 infection by March as the recent Omicron variant has resulted in milder cases, Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion said.
MORE Filipinos are now aware of data privacy as social-media channels and television provide avenues for disseminating related information, according to a survey commissioned by the National Privacy Commission (NPC).
Local automotive importers said they have set their sights on accelerating their sales this year after they posted a double-digit growth and sold over 58,000 units in 2021, noting that mobility is crucial as the economy reopens.
THE Department of Trade and Industry (DTI) is keen on keeping the momentum for Philippine exports after registering double-digit growth last year as some commodity groups’ revenues returned to pre-pandemic levels already.
THE Department of Trade and Industry (DTI) said it is ready to enforce an international pact called the Arms Trade Treaty (ATT) that seeks to prevent illicit conventional arms trade after a recent Senate concurrence.
THE Small Business Corp. (SBCorp) announced it would be closing its lending facility aimed at helping struggling micro, small and medium enterprises (MSMEs) as funding has been fully utilized.
The private sector is asking the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) to begin crafting an “exit plan” for the pandemic in a bid to spur economic recovery.
Over 70 stock keeping units (SKUs) have seen higher suggested retail prices (SRP) based on the latest price bulletin by the Department of Trade and Industry (DTI).
The local electronics and semiconductor industry should consider venturing into metaverse, a segment that is seen to provide growth opportunities amid the expanding digital economy.
The average salary growth by industry last year reached 14 percent, as nearly half of the job posts showed an increase in compensation, according to a report by JobStreet.
The House of Representatives approved on second reading House Bill (HB) 1062, which seeks to establish the Department of Economics and Development Planning (DEDP).
House Ways and Means Committee Chairman Joey Sarte Salceda is optimistic for the enactment into law of a bill seeking to grant Sangguniang Kabataan (SK) officials honoraria and appropriate certificates of civil service (CSC) eligibility.
Boosting the clean technology space requires building a robust startup ecosystem that can support new players as well as providing support for early adopter customers.
THE digital economy needs to have a conducive environment for trading given that it provides new opportunities, in addition to greater participation, to companies of all sizes, the World Trade Organization (WTO) and World Bank (WB) Group said.
Local manufacturers of canned tuna and sardines are supporting the ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement, which is still pending in the Senate.
The Philippine Competition Commission (PCC) said on Tuesday that the Gokongwei Group’s full takeover of convenience store chain Ministop Philippines no longer needs to undergo competition review.
THE Intellectual Property Office of the Philippines (Ipophl) backed the call of the Anti-Money Laundering Council (AMLC) for foreign financial institutions to avoid wholesale de-risking in their bid to protect themselves against dirty money, saying such blanket moves could hurt Philippine businesses and nationals.
COMPANIES in Asia Pacific and across the world have become more concerned about cyber attacks and supply chain disruptions affecting their operations rather than the pandemic, as they have learned how to adapt and implement business continuity plans.
LOCAL and foreign business groups are pushing two economic measures—ratification of the Regional Comprehensive Economic Partnership (RCEP) and Public Service Act (PSA) amendments—before legislators go into election campaign recess. They said these will allow more investments and business activities that can aid recovery.
THE Philippine Economic Zone Authority (Peza) is still hoping that the ban on new ecozone development in Metro Manila will be lifted soon given the demand for expansion, especially from the information technology-business process management (IT-BPM) companies.
As consumers tighten their belt amid the pandemic, a trend of purchasing “preloved” or secondhand items is on the rise this year—something that, some experts say, also supports sustainability goals of those seeking to minimize environmental footprints.
MOODY’S Investors Service has downgraded its outlook for Union Bank of the Philippines to negative from stable following its recent acquisition of a consumer banking business that is seen to shrink the bank’s capital buffer.
THE Development Bank of the Philippines (DBP) extended a total of P2.1-billion loan to two hydro-energy projects that seek to boost both the Luzon and Visayas grids.
PRIVATE companies must only pay for half of the paid isolation and quarantine leave program given the financial difficulties brought about by the pandemic, Presidential Adviser for Entrepreneurship Jose Maria A. Concepcion said.
HOUSING developer Ovialand Inc. is targeting to build 600 units in Southern Luzon this year in a bid to expand its market share.
THE Department of Trade and Industry (DTI) is upbeat that it will hit P1 trillion worth of investment approvals in 2022 despite missing last year’s target as several projects are currently in the pipeline and awaiting approval for incentives.
THE job market this year is expected to be flooded with opportunities from technology, business management and sales and finance amid the growing shift to digitalization, according to a study by a professional recruitment consultancy firm.
WITH the goal of further promoting sustainability in the financial sector, the Bangko Sentral ng Pilipinas (BSP) is looking into providing regulatory incentives to banks implementing such an initiative.
The Joint Foreign Chambers (JFC), along with private sector groups, reiterated the need to immediately pass the bill seeks to reduce major transportation accidents.
An Australia-based logistics firm expanding in the Philippines is aiming for double-digit growth in the next five years on the back of higher demand for its services from the retail, technology and automotive industries.
The Board of Investments (BoI) has granted incentives to an essential oil producer for its P109.5-million project in Zambales.
FINANCIAL health platform Gigacover Philippines Pte Ltd is targeting to onboard 100,000 Filipino freelancers this year amid the growing gig economy.
The local dealer of Chevrolet will be recalling 435 Suburban and Tahoe 2007-2012 models to replace passenger airbag inflators, according to a recent advisory by the Department of Trade and Industry (DTI).
THE Management Association of the Philippines (MAP) is pushing for more policy reforms for economic recovery, human development and well-being and shared prosperity and sustainability this year.
APART from revenue streams and operations, corporate integrity was found to be challenged amid the pandemic as well, a survey by a professional services firm showed, prompting the call for better compliance monitoring on the part of businesses.
