The various banks accelerated their lending activity in August, driven by a steady demand for credit from key business sectors. Big banks expanded their loan portfolios by 11 percent year-on-year, picking up speed from the 10.4 percent growth recorded in July.
The Philippines saw its net financial obligations to foreign lenders and investors expand to $65.6 billion as of end-June 2026, equivalent to 13.4 percent of the country’s Gross Domestic Product (GDP). It is a reflection of what the country owns abroad versus what it owes to foreign entities. Preliminary balance sheet figures show this liability expanded from $55.0 billion, or 11.2 percent of GDP, recorded at the end of March 2026.
The Philippine Economic Zone Authority (PEZA) and Aboitiz Economic Estates are expanding an investor-assistance program designed to turn investment commitments into operating projects faster as international interest in the Luzon Economic Corridor grows.
Philippine manufacturers shifted into “retrenchment mode” in September, cutting jobs, purchases and inventories as weak demand, high oil prices and international competition pushed the sector back into contraction, S&P Global Market Intelligence said.
PH Resorts Group Holdings Inc. has permanently closed Donatela Resort & Sanctuary in Panglao, Bohol, as part of a broader restructuring with parent Udenna Corp. aimed at addressing legacy obligations.
A proposed tobacco-specific anti-illicit trade law could give Philippine authorities additional tools to pursue smaller shipments and target the machinery, raw materials and distribution networks used in illegal cigarette production, industry representatives said.
SM Hotels & Conventions Corp. (SMHCC) is expanding further into premium leisure with a Shangri-La-branded resort at Hamilo Coast, broadening its hospitality portfolio beyond city hotels, convention facilities and established leisure properties.