Economy

The Bureau of Internal Revenue (BIR) destroyed 240,550 illicit vape products with an estimated tax liability of P1.539 billion, underscoring the revenue at stake as authorities widen their crackdown from retail outlets to warehouses.

Philippine exporters are being urged to make fuller use of preferential access to the United Kingdom, while the government pursues free trade agreements that could secure longer-term market access as existing trade privileges eventually expire.

A consortium led by Maynilad Water Services Inc. and Korea Water Resources Corp. (K-Water) has secured original proponent status for a proposed P14.8-billion water supply and wastewater management project in New Clark City, moving the long-term utility project into the next stage of the public-private partnership process.

Philippine exports are poised to sustain double-digit growth this year and outperform government forecasts despite higher US tariffs and other external challenges, supported by strong first-half shipments and a broader mix of products and markets.

What began as a one-person coffee business during the pandemic has grown into a nationwide enterprise employing thousands of workers, proving that a small startup can build a bigger business by widening access to opportunity.