ECCP at Work

PHL-EU third round of FTA talks make ‘good progress
The Department of Trade and Industry (DTI) said the third round of negotiations last week for a Philippines-European Union (EU) free trade agreement (FTA) was marked by “good progress.”

DOE issues guide for firms in offshore wind business
The Department of Energy (DOE) announced last Monday the launch of an offshore wind guidebook to arm potential investors with the knowledge of the business environment in the country.

EV strategy expected to create 680,000 jobs
The Department of Trade and Industry (DTI) said it expects around 680,000 jobs to be created under the recently approved Electric Vehicle Incentive Strategy (EVIS).

53 projects added to PPP pipeline
The government has added 53 projects to be implemented through the public-private partnership (PPP) mode, bringing the total pipeline to 230 projects worth P2.61 trillion.

Deutsche Bank flags long-term risk from structural OFW shifts
Deutsche Bank Research has flagged deeper structural shifts in the overseas Filipino workforce as a growing long-term risk to the country’s remittance inflows.

DOTr to hasten fuel subsidy releases amid expected oil price hikes
The Department of Transportation (DOTr) announced on Monday it will expedite the distribution of fuel subsidies to public utility vehicles (PUV) as the government seeks to mitigate the impact of an expected fuel price surge.

‘Konektadong Pinoy favors satellite firms’
The country’s biggest telcos – whose investments are largely on terrestrial assets – have warned that the Philippines would become the only country in the world that would soon permit satellite providers to come in without checks.

New rules for online shopping: DTI enforces Internet Transactions Act to protect consumers
With the Internet Transactions Act of 2023 now in “full effect,” the Department of Trade and Industry (DTI) is reminding online merchants and e-marketplaces that the agency now has the power to issue takedown orders against online listings for illegal goods and services.

Oil prices seen to spike after US strikes on Iran
Global oil prices are expected to soar amid a widening conflict in the Middle East after the US attacked Iranian nuclear sites. As of June 21, diesel is projected to go up by P4.90 to P5.10 per liter; and gasoline by P3.20 to P3.40 per liter, an industry player said.

Philippine banks’ real estate exposure sinks to 6-year low
The exposure of Philippine banks and trust entities to the property sector dropped to a six-year low at the end of March, data from the Bangko Sentral ng Pilipinas (BSP) reported. Banks’ real estate exposure ratio slipped to 19.41% as of end-March from 19.75% at end-December.

Manila Water shares climb as East Bay plant upgrade nears completion
Manila Water Co., Inc.’s (MWC) shares rose in value last week following the announcement of progress on its East Bay Water Treatment Plant upgrade, analysts said.

Online lending platforms face stricter SEC monitoring
The Securities and Exchange Commission (SEC) said it is intensifying its monitoring of financing and lending companies by requiring the submission of landline contact details, particularly for those operating online platforms and mobile applications.