BSP to ensure PHL will stay out of ‘gray list’
The Bangko Sentral ng Pilipinas (BSP) said it is working to ensure that the country will not return to the Financial Action Task Force’s (FATF) “gray list,” citing the need to crack down on digital technology threats.

DOF issues draft rules on VAT refund for tourists
The Department of Finance (DOF) has released the draft implementing rules and regulations (IRR) for the refund of value-added tax (VAT) on local goods purchased by tourists in a bid to promote the Philippines as a shopping destination.

Sugar regulator simplifies importation of other sweeteners
The Sugar Regulatory Administration (SRA) has streamlined the process for importing sugar alternatives to address the red tape in sourcing this commodity.

Energy dep’t readies large-scale renewable energy auction
The Department of Energy (DoE) is set to offer a total of 10,478 megawatts (MW) of renewable energy (RE) capacity, which includes some that will be paired with battery energy storage systems (BESS), under the fourth round of the green energy auction (GEA-4) program.

Marcos: Government investing in infra to boost food security
Philippine President Ferdinand R. Marcos, Jr. on Thursday said his government is investing in more dryers, silos, warehouses, rice and corn mills and other agricultural equipment, whilst pushing partnerships between farmers and the private sector to boost food security.

Tariff Commission expects to conclude probe into safeguard duties for cement by June
The Tariff Commission said it hopes to complete the safeguard duty investigation into cement imports by June.

PEZA, IT-BPM sector target reforms
The Philippine Economic Zone Authority (PEZA) and the Information Technology and Business Process Association of the Philippines are stepping up policy advocacy efforts to maintain the country's competitiveness in the IT and business process management sector.

Global trends still seen favorable to gold mining
Prices of precious metals like gold and silver are projected to sustain their uptrend this year as prolonged geopolitical conflicts continue to drive investors toward safe-haven assets.

DOE launches 1st green power auction with battery system
The government is calling for bids for the opportunity to build a total of 9,378 megawatts (MW) of renewable energy capacity in a new round of the Green Energy Auction, which is the first one to integrate solar parks with battery energy storage system (BESS).

BSP drafting new rules to temper risks from AI
The Bangko Sentral ng Pilipinas (BSP) is preparing new regulations that aim to mitigate risks associated with the use of artificial intelligence (AI) in the local financial sector.

PH rice output seen shrinking in ’24-’25
Local rice production is projected to decrease this current crop year due to unfavorable weather conditions, which could translate to higher retail prices, according to research firm BMI.

DA seeks $500 million loan for rice post-harvest
The Department of Agriculture (DA) is planning to secure as much as $500 million in loan from the Japan International Cooperation Agency (JICA) to finance a project that would reduce post-harvest losses in the rice sector and improve farmers’ income.

IBPAP positioning Philippines as high-value IT-BPM services hub
The Information Technology and Business Process Association of the Philippines (IBPAP) is stepping up efforts to promote the country as a global leader for high-value services amid a push to bring back production operations and jobs in the United States.

NEDA opens Negros Island office
The National Economic and Development Authority (NEDA) has inaugurated its new office in the Negros Island Region (NIR) on March 10.

DoE considering standard LGU power project approval process
The Department of Energy (DoE) said it is seeking to standardize local government unit (LGU) ordinances for approving energy infrastructure projects.

DepEd: 1 million Google workspace accounts for teaching, non-teaching staff
One million Google Workspace for Education Plus accounts will be provided to teaching and non-teaching personnel, according to the Department of Education (DepEd) on Tuesday.

Biz chamber, DTI focus on investment promotion amid Duterte’s arrest
The country’s largest business organization as well the government’s main agency in trade and investment promotion on Wednesday said they remain focused on economic growth and investment promotion despite the recent arrest of former President Rodrigo Duterte.

Palay farmgate price falls 18.9% in Feb.
The farmgate price of palay (unmilled rice) fell 18.9% year on year in February to an average of P20.29 per kilogram, after rice imports hit record levels last year.

Filipinos lose P8.37 billion to hidden forex fees
Filipinos unknowingly lost an estimated P8.37 billion to hidden foreign exchange (forex) fees in 2023, according to a new research commissioned by Wise, a global technology company specializing in international money transfers.

BSP could cut by 50 bps this year
The Bangko Sentral ng Pilipinas (BSP) has “greater motivation” to reduce borrowing costs further, analysts said, with expectations of up to 50 basis points (bps) worth of rate cuts this year.

April rate cut ‘on the table,’ BSP says
An interest rate cut in April is still “on the table” of the Bangko Sentral ng Pilipinas (BSP), Governor Eli Remolona Jr. said while stressing that monetary authorities were still on easing mode despite the surprise pause last month.

Philippine banks to stay resilient amid strong economic backdrop
The Philippine banking system is seen to remain resilient amid support from a strong macroeconomic environment, Moody’s Ratings said, with profits expected to be stable amid robust credit growth.

Easing inflation leaves room for rate cuts, ex-central banker says
The Monetary Board could cut rates at its April meeting, with receding inflation giving it space to ease monetary policy, a former Bangko Sentral ng Pilipinas (BSP) official said.

DOF to ramp up sale of state-owned assets
The Department of Finance (DOF) is banking on unsolicited proposals to boost its privatization goal as it estimates that roughly P20 billion is achievable for now.

Banking system assets up 9.3% as of end-Jan.
The Philippine banking industry’s total assets jumped by 9.3% year on year as of end-January, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed.

BSP seeks to amend rules on forwards, swaps
The Bangko Sentral ng Pilipinas (BSP) is proposing amendments to regulations on non-deliverable exchange forward and swap contracts involving the peso, which will allow the pre-termination or cancellation of contracts before maturity date, among others.

P11-B Jica funding sought to boost palay production
The Department of Agriculture (DA) is seeking P11 billion in funding from the Japan International Cooperation Agency (Jica) to increase local palay production and reduce post-harvest losses.

AirAsia, NNIC in talks over hike in NAIA fees
Low-cost carrier AirAsia Philippines is negotiating with the new operator of the Ninoy Aquino International Airport (NAIA) to resolve disputes on rising fees, as the airline prepares to turn the gateway into its hub to North America.

Personal appearance may become a requirement for SIM registration
Filipinos may later be required to register their SIM (subscriber identity module) cards in person to make identity verification easier as the government finds ways to deter individuals from illegally selling their IDs for fraudulent activities.

Changes to SIM registration opposed
Telecommunications companies are opposing the National Telecommunications Commission’s (NTC) proposal to require personal appearance for the registration of subscriber identity module (SIM) cards.

Philippine business conditions seen headed in right direction
The Philippines is headed in the right direction in terms of becoming a more conducive business environment, the Chandler Institute of Governance (CIG) said.

Dairy regulator to open 5 stock farms by April
The National Dairy Administration (NDA) said it plans to open five stock farms by April to help expand the dairy cattle herd.

LPG firms urged to ensure compliance for public safety
Businesses engaged in the production, distribution or sale of liquefied petroleum gas (LPG) are compelled to strictly follow regulations to ensure public safety and consumer protection.

PIRA pushes for lower DST on nonlife policies
The Philippine Insurers and Reinsurers Association, Inc. (PIRA) is pushing for lower documentary stamp taxes (DST) on nonlife insurance products to help lower costs.

PH banks’ soured loans trekked to 2-month high in January
Soured loans held by local banks rose to a two-month high in January, opening the year on a negative note as the lingering impact of the last pandemic and the slow interest rate-cutting cycle weighed on borrowers’ ability to settle their obligations on time.

Uptick in soured loans pushes banks’ NPL ratio to 3.38 percent in January
After easing for two straight months, the gross non-performing loan (NPL) ratio of banks rose to 3.38 percent in January from 3.27 percent in December last year.

Insurers to adopt new accounting standards by 2027
The insurance sector has been ordered to adopt new accounting standards by 2027, according to the Insurance Commission.

IC scraps higher capitalization for HMOs
The government will no longer increase the minimum paid-up capital of existing health maintenance organization (HMOs), but they will undergo tiering based on net worth instead.

CA upholds SEC ruling on 1UP Time
The Securities and Exchange Commission (SEC) has received a positive boost in its investor protection campaign after the Court of Appeals (CA) upheld the cease and desist order (CDO) issued by the commission against Superbreakthrough Enterprises Corp. for unauthorized solicitation of investments from the public.

Duterte arrest seen to ‘disturb’ PHL markets
The arrest of former Philippine President Rodrigo R. Duterte for crimes against humanity may “disturb” financial markets as it reflects increasing political instability in the country, analysts said.