News

Despite the United States' new 12.5-percent tariff, the Philippines stands on firmer ground than most of its regional rivals, with more than 60 percent of its exports completely exempt from the additional levy. Trade Undersecretary Ceferino Rodolfo has moved swiftly to allay concerns, describing the US-imposed tariff—targeting countries that Washington deems lacking safeguards against forced labor...

The country's foreign exchange buffer strengthened further last month, driven by government deposits and robust central bank investment earnings, according to the Bangko Sentral ng Pilipinas (BSP). As of end-June 2026, the Philippines' gross international reserves (GIR) climbed to $104.7 billion—a notable increase that underscores the economy's external resilience. This latest reserve level remains...

SM Prime Holdings Inc. officially introduced its new ₱7-billion mega-arena in Cebu last Thursday, placing a strategic bet on the growing post-pandemic demand for tourism and entertainment across Central Visayas. With a capacity of 25,000 people and a gross floor area covering seven hectares, the SM Seaside Cebu Arena was first presented to corporate partners before its official launch of major events...

For the second month in a row, headline inflation continued to moderate, falling to 6.4 percent in June 2026 from 6.8 percent recorded in May. This slowdown comes primarily as global oil prices soften and government interventions help stabilize the country’s food supply. During a briefing held last Tuesday, National Statistician Dennis Mapa noted that the latest figures bring the average inflation...

The Bangko Sentral ng Pilipinas (BSP) anticipates that more financial institutions will soon eliminate or reduce electronic transfer charges, following the lead of two major lenders that recently waived InstaPay fees for their digital banking clients. The shift comes as the central bank's new pricing framework officially took effect, signaling a decisive push toward a more inclusive digital payments...

The Philippines has officially crossed the threshold into upper-middle-income country (UMIC) territory, according to the World Bank’s latest classification update. The reclassification, announced on Wednesday, marks a significant milestone in the nation’s post-pandemic recovery and long-term economic trajectory. At the heart of this upgrade is the country’s gross national income (GNI) per capita,...

The Bangko Sentral ng Pilipinas (BSP) is widely expected to raise interest rates once again this week. Policymakers are continuing their efforts to bring inflation back within the central bank’s official target range. As a result, all 15 economists surveyed by the Inquirer anticipate a monetary policy tightening at the upcoming June 18 meeting. Specifically, twelve of them forecast a quarter-point...

Ayala Land Inc. (ALI) is making a bold move to strengthen its presence in the Visayas—and at the heart of this expansion is a brand-new mall in Cebu. Notably, the development will house the region’s very first IKEA store, which marks a significant step in ALI’s strategy to grow its recurring-income portfolio beyond Metro Manila. In a statement released on Wednesday, Ayala Malls officially...

Ayala Corp. has signed a series of agreements with Japanese partners aimed at expanding collaboration on intelligent cities, digital finance, and data-driven services in the Philippines. Accordingly, this move reinforces the country’s oldest conglomerate’s commitment to innovation and regional cooperation.The memoranda of understanding were signed in Tokyo and witnessed by President Marcos....

President Ferdinand R. Marcos Jr. welcomed on Thursday a significant new proposal from Japan—the USD10‑billion Partnership on Wide Energy and Resources Resilience, also known as POWERR Asia. Consequently, this initiative aims to strengthen regional energy security and resilience, especially in light of ongoing global supply uncertainties fueled by rising tensions in the Middle East.Marcos discussed...