Economy
Philippine trade deficit widens sharply in July
The Philippines’ trade deficit widened sharply in July as imports continued to outpace exports, with the country’s merchandise trade gap expanding by nearly 35 percent from a year earlier, according to the Philippine Statistics Authority.
UP study backs Maharlika fund for chip industry
A University of the Philippines study is urging the government to consider using the Maharlika Investment Fund (MIF) to finance a dedicated semiconductor development fund that could help the Philippines move into higher-value segments of the global chip industry.
NNIC remits P78B to government, invests P6.8B in NAIA overhaul
New NAIA Infra Corp. (NNIC) has remitted P78 billion to the national government and poured P6.8 billion into rehabilitation and modernization works at the Ninoy Aquino International Airport (NAIA) since taking over operations of the country’s main gateway on September 14, 2024, marking substantial early progress under the public-private partnership (PPP) framework.
BSP makes preemptive quarter-point rate hike on inflation risks
The Bangko Sentral ng Pilipinas on Thursday delivered a preemptive 25-basis-point rate hike and left the door open to further tightening as stubborn inflationary pressures threaten to keep prices above the central bank’s target range.
PMFTC says BIR crackdown curbs illicit cigarette trade
Philip Morris Fortune Tobacco Corp. (PMFTC) said intensified enforcement by the Bureau of Internal Revenue (BIR) and other government agencies has helped reduce illicit cigarette trade, potentially limiting tax leakages from untaxed tobacco products.
