Top News
PCTO warns Konektadong Pinoy bill could harm competition, national security
The Philippine Chamber of Telecommunications Operators (PCTO) has raised alarms over the Konektadong Pinoy bill, a key legislative measure designed to expand internet access and encourage new players in the telecom sector.
Foreign investments surge 39% in 2024
Foreign investments registered with the Bangko Sentral ng Pilipinas (BSP) through authorized agent banks (AABs) took the high path in 2024, with net inflows totaling USD2.1 billion, a sharp turnaround from the previous year's outflows. This marked a significant 39.2 percent increase from 2023, which saw USD12.9 billion in investments.
Rice prices continue easing; other commodities see price rise
The Philippine Statistics Authority (PSA) recorded mixed movements in the prices of agricultural commodities in mid-January, with potential implications for inflation. January inflation data are due 5 February.
JG Summit shuts down petrochemical operations amid losses
JG Summit Holdings Corp., led by the Gokongwei family, has decided to cease operations at its petrochemical business, JGSOC (JG Summit Olefins Corp.), citing persistent losses and unfavorable market conditions in the global petrochemical industry.
Philippine economy expands 5.6% in 2024, misses target
The Philippine economy showed resilience in 2024, posting a 5.6 percent year-on-year growth in gross domestic product (GDP), despite challenges such as the contraction in agriculture due to El Niño and a series of storms. However, this growth fell short of the government’s target of between 6.0 percent and 6.5 percent.
