Philippines faces US tariff despite forced labor reforms
The Philippines will still face a 12.5 percent tariff on most exports to the US after Washington concluded its latest Section 301 review, finding that Manila had not yet effectively enforced a ban on imports produced through forced labor despite newly adopted reforms.
Big developers prioritize malls as retail thrives
The Philippines’ biggest property developers are placing greater emphasis on malls as retail continues to outperform other real estate segments, supported by resilient consumer spending and the appeal of stable recurring rental income.
Sectors push for policy reforms amid record-high power costs
Various groups and industry stakeholders are calling for policy changes that help bring down electricity rates at the hearing convened by the Senate Committee on Energy on Thursday. The Department of Energy confirmed earlier this week that power rates average P12.43 per kilowatt-hour in June, the highest across all 11 ASEAN member states, and slightly higher than Singapore’s for the same month.
Meralco Networks Group retains ISO quality certification with zero non-confirmities
The Networks Group of the Manila Electric Company (Meralco), led by Manuel V. Pangilinan, has kept its ISO 9001:2015 Quality Management System certification after passing its second surveillance audit with no issues found.
BPI to launch stablecoin settlement system for faster, cheaper cross-border payments
The Bank of the Philippine Islands (BPI) has announced plans to introduce stablecoin settlement rails in partnership with global digital clearinghouse Meridian, aiming to modernize how funds enter the country with an initial focus on payroll support for informal economy workers such as freelancers and virtual assistants.
