Economy

Japanese electronics manufacturer MinebeaMitsumi Inc. is pouring another P25 billion into its Philippine operations, reinforcing the country's position in the global semiconductor supply chain and creating an estimated 3,000 new jobs.

The Bureau of Customs (BOC) is stepping up its war against smuggling, forging a stronger alliance with the Department of Justice (DOJ) and the National Bureau of Investigation (NBI) to go beyond confiscating illegal goods and target the syndicates and financiers behind illicit trade operations.

Consumers may need to stretch their grocery budgets a little further as the Department of Trade and Industry (DTI) released an updated Suggested Retail Price (SRP) bulletin showing higher prices for several basic and prime commodities.

Premium tea chain CHAGEE is ramping up its Philippine expansion, growing its store network to 16 locations within eight months of entering the market and exploring opportunities to source more ingredients locally as it deepens its presence in the country.

Japanese health technology firm Tanita Corp. is considering the Philippines as the site of a new export-oriented manufacturing facility, a potential investment that could generate about P2 billion in export sales and create around 500 jobs within five years of operations.