“If you were handed ₱1.26 billion in fresh capital today, where would it first go?” That was the question the Manila Bulletin asked Maharlika Investment Corp. (MIC), the country’s first sovereign wealth fund manager. Inside the MIC’s boardroom, a capital allocation of ₱1.26 billion is...
Cabinet-level interagency Development Budget Coordination Committee (DBCC) has lowered the revenue goal for the Bureau of Internal Revenue (BIR) for this year but raised the target for the Bureau of Customs (BOC), in tandem with the downgraded economic growth outlook. According to data disclosed by...
The Philippines’ sovereign wealth fund and its state-run oil company are exploring the construction of the country’s first strategic petroleum storage facility, aiming to shield the import-dependent nation from global energy market shocks. Maharlika Investment Corp. (MIC) and the Philippine...
Eliminating delays in the country’s power-related projects will be the ultimate goal of the proposed $60-million Millennium Challenge Corp. (MCC) threshold program, according to the Department of Finance (DOF), as it will fund the Energy Development Governance Efficiency Project. DOF Secretary...
Dividends collected under President Ferdinand R. Marcos Jr.’s administration have already exceeded half a trillion pesos since mid-2022, 31.2 percent higher than those under the Duterte administration and dwarfing the collections of the two earlier administrations. A government document from...
The 12th edition of the Malasimbo Music & Arts Festival brought Puerta Real Gardens in Intramuros to life with a vibrant blend of music, art, and sustainability. Families flocked to the Kids Village, where they took part in workshops on yoga, poi spinning, crochet, drumming, and origami....
Department of Finance (DOF) Secretary Frederick D. Go said the government hopes to sign within the year the framework agreement for the first technology hub under the United States (US)-led Pax Silica Initiative, a project anchored by Taiwan’s Foxconn that seeks to establish a high-tech...
While the Philippines’ graduation to upper-middle-income-country (UMIC) status is a nod to its economic progress, President Ferdinand R. Marcos Jr.’s chief economic manager said the milestone alone cannot do the heavy lifting needed for the country to achieve an ‘A’-level sovereign credit...
The Bangko Sentral ng Pilipinas (BSP) is delaying the selection of four new digital banking players as it seeks to reconcile conflicting regulatory tracks for different types of applicants. While the market anticipated the entry of the new digital lenders as early as the first quarter, BSP Governor...
Climbing to upper-middle-income-country (UMIC) status comes with a trade-off: the Philippines faces a looming decline in access to concessional official development assistance (ODA), or low-interest loans extended by the country’s multilateral and bilateral development partners. However, for...
Filipinos are known for taking hygiene seriously, and science backs it up. According to a recent study by Seasia Stats, a digital-focused media company, the Philippines ranks fourth among countries whose citizens shower the most frequently, with Filipinos averaging 11 showers per week. Considering...
Department of Finance (DOF) Secretary and Land Bank of the Philippines (Landbank) Chairman Frederick D. Go has praised the move by Ayala-led Bank of the Philippine Islands (BPI) to waive electronic fund transfer fees across its digital channels, describing it as a step toward eliminating banking...
