Thursday, 17 April 2025, 2:22 am

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    ERC-approved FIT-all rate increase makes for more expensive electricity next month

    The Energy Regulatory Commission (ERC) has approved an upward adjustment in the feed-in-tariff allowance (FIT-All) rate, effective March 2025. This, the ERC said, ensures the sustainability of renewable energy (RE) incentives, with the new rate increasing by P0.0351 per kilowatt hour (kWh) for consumers in on-grid areas.

    BOC vows accountability in post-seizure cigarette resale bid

    Customs chief Bienvenido Y. Rubio said over the weekend that significant personnel changes will occur if investigations confirm that Bureau of Customs (BOC) staff members were involved in the attempted resale of P270 million worth of seized contraband cigarettes from Capas, Tarlac.

    PH FATF grey list exit sets stage for econ growth, credit rating boost

    The Bangko Sentral ng Pilipinas (BSP) has celebrated the country's removal from the Financial Action Task Force’s (FATF) grey list, a significant milestone in the country’s financial reforms in combating money laundering and terrorism financing. The FATF’s recent statement confirms that the Philippines has addressed critical deficiencies in its anti-money laundering (AML) and counter-terrorism financing (CFT) framework.

    BSP unfreezes P300B in deposit reserves

    The Bangko Sentral ng Pilipinas (BSP) has determined that the inflation and liquidity dynamics is such that the monetary board reduced the banks' reserve requirement ratios (RRRs) by 200 basis points (bps) beginning 28 March 2025.

    Weak peso, debt service burden push BOP into deficit in January

    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.

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    Metro Retail’s 2024 profit dips despite sales growth, expansion push

    Metro Retail Stores Group Inc. (MRSGI), the Gaisano family’s retail arm, reported a slight 1 percent decline in net income to ₱609.42 million in 2024 from ₱618.02 million a year earlier, as rising sales were tempered by tighter margins and strategic shifts in business mix.

    DoubleDragon acquiring control of MerryMart in P1.28-B deal

    DoubleDragon Corp. is acquiring the 35 percent stake of Injap Investments Inc. in grocery chain operator MerryMart Consumer Corp. for P1.28 billion, marking a strategic move that aligns with its ongoing transformation into a diversified investment holding company.

    SEC-SM tandem launches videos vs scams

    The Securities and Exchange Commission (SEC), in partnership with BDO Foundation, has unveiled new investor protection materials aimed at safeguarding the public from financial investment scams.

    SM Prime sees strong demand for mall-based offices, accelerates provincial expansion

    SM Prime Holdings Inc. reported robust demand for its mall-based office spaces, driven by a growing preference among businesses for mixed-use developments that offer convenience, accessibility, and quality infrastructure.

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