BUSINESS

Pag-IBIG Fund’s performing loans ratio surged to 92.53% as top executives reported double digit growth in its housing loan payment collections in the first five months of the year. From January to May, the agency collected P31.97 billion in home loan payments, which is 15 percent or P4.22 billion higher than the amount collected in …

June 22, 2023, Manila, Philippines – Leading mobility provider Toyota Motor Philippines (TMP) has officially introduced its first 7-seater Hybrid Electric Vehicle (HEV) – the All-New Toyota Zenix. Positioned to bring the electrified mobility experience to modern Filipino families, the All-New Zenix is a versatile vehicle with a self-charging hybrid system, combining the comfort, spaciousness, …

State-owned Development Bank of the Philippines (DBP) has granted a P66.7-million funding support to a waste management firm for the construction of the only fully-integrated waste treatment and disposal facility at the Mactan Economic Zone I (MEZ) in Lapu-Lapu City, Cebu, a top official said. DBP President and Chief Executive Officer Michael O. de Jesus …

By Janine Labarda Lapu-Lapu City is well-renowned for its natural beauty, delectable cuisine, spectacular tourist sites, and locals known for their kindness and warmth to visitors. This city, known as the “Historic Resort City,” displays a modern yet confident and dynamic metropolis rich in history and legacy.  As Mactan Island is known as the crown …

As inflation in the Philippines continues to decelerate, which is giving the Bangko Sentral ng Pilipinas (BSP) room to consider cutting the key policy rate, lead economist Jun Neri warns of the potential downside to an aggressive rate reduction. In an online briefing, Neri said economic gains might not be sustainable if there would be …

Consumer confidence in the second quarter of 2023 remained pessimistic, almost unchanged compared to the first three months of the year, the Bangko Sentral ng Pilipinas (BSP) said yesterday.  The overall confidence index (CI) was steady at -10.5 percent, from -10.4 percent the previous quarter, according to the BSP’s Q2 Consumer Expectations Survey (CES). “This means …

The Bureau of Internal Revenue (BIR) has further reduced the requirements needed for filing and processing Value Added Tax (VAT) refund claims in a bid to promote ease of doing business in the country. In a statement yesterday, the BIR said Commissioner Romeo Lumagui, Jr. issued Revenue Memorandum Circular No. 71-2023 and Revenue Memorandum Order …

ZAMBOANGA CITY – Substantial improvements in power stability in Zamboanga over the past five years have resulted in significant growth for the region’s business and tourism sectors. In 2022, the region posted accelerated economic growth of 7.5 percent, up from 5.7 percent just a year prior, according to the Philippine Statistics Authority (PSA)-Regional Services Office …

THE Development Bank of the Philippines (DBP) shall continue to exhaust available remedies under existing laws with regard to the proposed merger with the Landbank of the Philippines. On May 18, DBP formally submitted its appeal memorandum to the Office of the President, which contains, among others, the extensive discussion of responses and counter arguments …

Pag-IBIG Fund released P15.82 billion in cash loans in the first four months of the year, an increase of 5% from the P15.10 billion released during the same period last year, agency officials announced Wednesday (07 June 2023). The amount of Multi-Purpose Loans disbursed by the agency helped 728,653 members with their financial needs. “We …