The Securities and Exchange Commission (SEC) has cancelled the financing license of Digido Finance Corporation for opening and operating four branches without first getting the necessary certificate of authority from the Commission. Digido, which operates online lending platforms (OLPs) UnaPay and...
Economic managers vowed to ramp up their efforts and reaffirm their commitment to improved performance, even prompting President Marcos’ chief economic manager to also recalibrate the Department of Finance (DOF). This came after President Ferdinand Marcos Jr. decided to retain them, along with...
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. expects President Ferdinand Marcos Jr. to reject the resignations of the economic team, arguing that the President’s dissatisfaction was not directed at the team, which he says operates very professionally. This came after the...
President Marcos ' directive for Cabinet resignations has sparked a mix of hope and apprehension in the local financial market, as some view it as a necessary step toward improved governance and economic performance, while others are concerned about potential market volatility during the...
Despite a double-digit drop in dividend remittances early this year, the Department of Finance (DOF) remains confident that total collections from government-owned and -controlled corporations (GOCCs) in 2025 will surpass the more than ₱136 billion recorded in 2024. Total dividends collected by...
A couple of funds backed by the International Finance Corp. (IFC) will help bankroll infrastructure build-up in the Philippines, including "green" projects. Documents seen by Manila Bulletin showed that the IFC, the World Bank Group 's private-sector lending arm, on May 8 approved its...
With illegal tobacco incidence reaching an all-time high of 18.2 percent in 2024, Philippine Tobacco Institute (PTI) has urged the Marcos administration to recalibrate tax rates to help reverse the declining state of the tobacco industry. The latest industry data showed that illicit cigarettes...
With United States (US) President Donald Trump shutting down the Millennium Challenge Corp. (MCC), the threshold program that the US aid agency had been developing with the Philippines will no longer push through. But Finance Secretary Ralph G. Recto, the Marcos administration 's chief...
Inflation would likely fall to a five-year low in 2025, providing policy space for more interest rate cuts supportive of economic growth, according to the think tank Capital Economics. "We expect GDP [gross domestic product] growth in the Philippines to remain relatively strong in 2025, helped by...
President Marcos’ chief economic manager stated that the government’s current revenues are more than sufficient to cover its expenses even without imposing new taxes, as total tax collections grew by double digits to over ₱930 billion in the first quarter of the year. Tax collections climbed...
The Philippine government will shell out $7.4 billion, or about ₱415.9 billion, to co-finance with the World Bank an upcoming program aimed at making domestic agriculture sustainable. An appraisal program information document of the World Bank, dated April 24, said the Department of Agriculture's...
The Philippines has urged international financial institutions (IFIs) to increase their assistance to emerging markets and developing economies (EMDEs) amid escalating global challenges and risks. “International financial institutions, such as the World Bank and the International Monetary Fund...
