Tag: Security Bank

The various sugar groups are urging Congress to revise the ProGRESS tax reform bill, warning its current design will further shrink local cane sugar use as cheaper alternatives dominate. The Department of Finance-backed measure would raise the sweetened beverage tax tiers to P20 and P40 per liter without reclassifying sweeteners, a change producers say will push manufacturers to replace cane sugar entirely.

The Philippines could unlock fiscal gains equivalent to as much as 7.1 percent of gross domestic product each year without raising statutory tax rates, as reforms to tax collection, procurement and government spending offer a potentially significant source of new fiscal space.

Philippine vehicle sales deteriorated further in August, deepening the industry’s 2026 contraction even as surging demand for electrified models accelerated a shift in the market.

The Philippines’ fast-growing data center industry is running up against a critical challenge: limited and strained power supply, just as operators rush to build more facilities to serve rising demand for cloud services, business digitalization, and artificial intelligence work. That is the latest assessment from BMI, a Fitch Solutions Company, which points to a widening gap between ambitious expansion plans and the reliable, affordable electricity needed to make them real. As of the third quarter of 2026, the country hosts 44 data centers delivering around 140 megawatts of live operating capacity. Another 43 megawatts are currently under construction, and a substantial 221 megawatts remain in the planning stages—numbers that show strong interest in the sector but also lay bare the hurdles ahead. BMI stresses that turning these planned projects into working facilities hinges first and foremost on securing steady, cost-competitive electricity, with successful delivery of renewable energy projects and solid grid connections forming the backbone of that progress.