Meralco customers face potentially higher electricity bills in February as the company foresees an increase in generation charges. In a statement released on Monday, Joe Zaldarriaga, Meralco vice president and head of corporate communications, said that the weak peso is largely responsible for the expected hike. The local currency's depreciated state increases the cost of Meralco's suppliers, most of which are dollar-denominated costs.
The monetary authorities are expected to keep the rate at which the Bangko Sentral ng Pilipinas (BSP) borrows from or lends to banks unchanged when the monetary board (MB) meets on Thursday this week to decide which way interest rates go.
In a bid to ensure more efficient use of taxpayer money, Agriculture Secretary Francisco Tiu Laurel Jr. announced the agency's new focus on projects that offer an internal rate of return (IRR) of 12 to 14 percent per year and a payback period of no more than seven years. This approach to budgeting and operations marks a shift towards prioritizing investments that are both bankable and profitable, with non-investment-grade projects to be deprioritized, regardless of their agricultural viability.
The country’s gross international reserves (GIR), an indicator of capacity to pay foreign currency ovligations, stood at USD103.0 billion at the end of January 2025, down from USD106.3 billion at the close of 2024, according to preliminary data from the Bangko Sentral ng Pilipinas (BSP).
A recent Social Weather Stations survey, conducted in partnership with the Stratbase Group, reveals that a majority of Filipinos believe rice saw the most significant price increase among food items in the past three months.
Japanese Ambassador to the Philippines Endo Kazuya on Friday delivered a compelling lecture at Ateneo de Manila University as part of its “EmbLEM: Embassy Lectures, Encounters, and Masterclasses” series, reinforcing the strong and evolving bilateral ties between Japan and the Philippines.
Maya, the country's top digital bank and fintech ecosystem, has unveiled Paleng-Kita, a new credit program aimed at providing micro and small business owners—particularly market vendors and public transport drivers—with access to fair, collateral-free loans.
Aboitiz Construction announced Friday the completion of the Lagonglong Port in Misamis Oriental for AMADI MGT Terminals Inc., marking a major milestone in infrastructure development aimed at boosting Mindanao’s economic activity.
The Department of Transportation (DOTr) announced on Friday that electronic gates (e-gates) will soon be installed at the Ninoy Aquino International Airport (NAIA) to expedite immigration processing and improve the overall travel experience for passengers.