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Unioil Petroleum Philippines, Inc. has entered into a definitive investment agreement with Aramco.  Under the agreement, Aramco, one of the world’s leading integrated energy and chemicals companies, will acquire a 25 percent stake in Unioil, one of the largest petroleum players in the Philippines.  

The country’s overall balance of payments (BOP) posted a higher deficit of USD4.1 billion in January, compared to the USD740 million deficit recorded in the same period last year. The Bangko Sentral ng Pilipinas (BSP) attributed this development primarily to its net foreign exchange operations and the national government’s drawdowns from foreign currency deposits to meet external debt obligations.

The Department of Agriculture (DA) on Wednesday released National Food Authority (NFA) rice stocks to local government units (LGUs) as a strategic food security emergency measure to stabilize rice prices and ensure affordable supply for consumers.

The Philippines on Wednesday reported a 20.4 percent increase in meat imports totaling 1.45 billion kilograms, according to the Bureau of Animal Industry (BAI). This compared against only 1.2 billion kg imported in 2023, highlighting a growing dependency on foreign meat supplies.

The Department of Transportation (DOTr) has approved a fare hike for the Light Rail Manila Corp. (LRMC), which will take effect on 2 April 2025. The decision, made official in a 14 February letter, comes after the LRMC petitioned for an increase in fares, citing adjustments in its concession agreement.