Honda hits breaks on EVs, faces JPY2.5T losses
Honda Motor Co. Ltd. said Thursday, March 11, it is scrapping three planned electric vehicle models for North America in a dramatic strategy reset that could saddle the Japanese automaker with losses of up to JPU2.5 trillion (around USD16–billion).
DOTr cracks down on steep hikes in shipping rates
The Department of Transportation (DOTr) has warned domestic shipping lines against imposing steep passenger fare hikes, signaling tighter oversight from regulators led by the Maritime Industry Authority (MARINA).
Subic charts bold course into cruise facility
The Subic Bay Freeport Zone is plotting a major leap into the regional cruise tourism market with plans to build a dedicated cruise ship terminal worth about P10 billion, an investment that also coincides with renewed shipbuilding activity and expanding container operations in the port hub.
Frasco out as DOT chief, stays in Cabinet
Secretary Christina Garcia Frasco will remain in the Cabinet of President Ferdinand Marcos Jr. but will step down as head of the Department of Tourism to become Presidential Adviser for Sustainable and Resilient Communities. Malacañang said tourism Undersecretary Verna Buensuceso will serve as officer in charge of the agency until a new tourism secretary is appointed. The Palace did not immediately explain the leadership change, and it remains unclear whether recent criticism surrounding the tourism department’s promotional campaign had any bearing on Frasco’s reassignment. Palace Press Officer and Undersecretary Claire Castro said President Marcos expressed his appreciation for Frasco’s leadership at the tourism department.
US probe tests ASEAN trade balance
The Philippines is closely watching a new US trade investigation that could reshape manufacturing supply chains and complicate trade flows across Southeast Asia.
