December 22, 2024
Vehicle sales up 8.5% in November
A shopping mall’s parking area is full of vehicles in this file photo taken on June 30, 2024. — PHILIPPINE STAR/MIGUEL DE GUZMAN VEHICLE SALES in the Philippines jumped by 8.5% year on year in November, mainly driven by demand for commercial vehicles, an industry report. In a joint report by the Chamber of Automotive […]
December 22, 2024
Inflation risks could slow BSP easing cycle next year, say analysts
Workers prepare roasted pig at a store in La Loma, Quezon City, Dec. 22. The Philippine central bank raised its baseline inflation forecast to 3.3% for 2025 (from 3.2%) and 3.5% for 2026 (from 3.4%). — PHILIPPINE STAR/MIGUEL DE GUZMAN By Luisa Maria Jacinta C. Jocson, Reporter UPSIDE RISKS to the inflation outlook could slow […]
December 22, 2024
External debt hits record $139.6 billion as of Sept.
REUTERS THE PHILIPPINES’ outstanding external debt hit another record high as of end-September, the Bangko Sentral ng Pilipinas (BSP) said. Data from the central bank showed external debt jumped by 17.5% to $139.64 billion as of end-September from $118.83 billion in the same period in 2023. The debt stock also rose by 7.3% from $130.18 […]
December 22, 2024
Millions of new polymer bills to be circulated in 2025
President Ferdinand R. Marcos, Jr. received the “First Philippine Polymer Banknote Series” in Malacañang, Dec. 19. The series highlights the Philippines’ biodiversity and cultural heritage with designs featuring native species and traditional weaves. — YUMMIE DINGDING/PPA POOL THE Bangko Sentral ng Pilipinas (BSP) plans to issue 70 million to 90 million pieces of the new […]
December 22, 2024
Emancipation comes for Pampanga farmers
On Nov. 21, President Ferdinand R. Marcos, Jr. went to Pampanga and distributed 2,939 Certificates of Condonation with Release of Mortgage (COCROM) and awarded 30 Certificates of Land Ownership Award (CLOA) to over 2,000 Agrarian Reform Beneficiaries (ARBs) in Pampanga. The distribution of COCROMs and CLOAs would help ease farmers’ plight following the series of […]
December 22, 2024
Belen-making competition to boost Tarlac’s tourism, economy
A COMPETITION REVOLVING around the nativity scene or belen is helping boost the economy and tourism of the province of Tarlac, the Tarlac Heritage Foundation, Inc. said. “Belenismo sa Tarlac has boosted Tarlac’s tourism and economy, establishing the province as a renowned tourist destination,” the foundation told BusinessWorld in an e-mail. “During the festival, thousands […]
December 22, 2024
SEC eyes registration of crypto service providers
BW FILE PHOTO THE Securities and Exchange Commission (SEC) plans to require the registration of cryptocurrency asset service providers to boost investor protection. Under draft rules issued on Dec. 20, applicants must be a SEC-registered stock corporation, have at least four staff members living in the Philippines and meet the minimum capital requirements. The corporate regulator […]
December 22, 2024
What to watch elsewhere in Southeast Asia
FREEPIK Philippine politics will, over the next few weeks, gradually transition from the political battle between the administration and Vice-President Sara Duterte to the May 2025 midterm elections — which is also a mini-proxy war between the two sides for senate seats, but it is less pronounced and virulent. Expectations of better governance from the […]
December 22, 2024
A guide to the Metro Manila Film Festival 2024
ACTION, comedy, drama, fantasy, horror, musical, romance, and thriller are just some of the many genres offered at this year’s Metro Manila Film Festival (MMFF). Organized by the Metropolitan Manila Development Authority (MMDA), it runs from Dec. 25 to Jan. 7, 2025. The film festival celebrates its 50th year with the theme of “Sinesigla sa […]
December 22, 2024
New ASF zoning rules to be issued by January
PHILSTAR FILE PHOTO THE Department of Agriculture (DA) said it will issue new zoning rules for areas affected by outbreaks of African Swine Fever (ASF) by January. “Our direction is that we will change our coding system. Previously it was color codes,” Agriculture Secretary Francisco P. Tiu Laurel, Jr. told reporters, referring to the color […]
December 22, 2024
ACEN sets P70-B capex for 2025
ACEN CORP. is earmarking about P70 billion for its capital expenditure (capex) budget next year. “In 2025, we expect to spend roughly P70 billion,” ACEN President and Chief Executive Officer Eric T. Francia told reporters last week. Ayala Corp.’s listed energy unit set a capex budget of P72 billion this year covering international operations and […]
December 22, 2024
A bad budget: The President’s options
BW FILE PHOTO The proposed 2025 budget is drawing flak. Healthcare advocates are particularly riled, claiming that the budget is illegally siphoning money away from the Universal Health Care (UHC) Act, established under Republic Act No. 11223 and funneled to dole-out programs that promote patronage politics. Incredibly, the proposed 2025 General Appropriations Act (GAA) provides […]
