UnionBank, a leader and pioneer in digital banking, shared its expertise on transforming customer experience with AI and innovation at the 9th annual Digital Congress (DigiCon) held last October 2024 at the Newport Performing Arts Theatre in Metro Manila. Organized by the Digital Marketing Association of the Philippines (DMAP), this year’s DigiCon, with the theme…
Higher generation charges from the Independent Power Producers (IPPs) and Power Supply Agreements (PSAs) went up by P0.9392 and P0.4295 per kWh, respectively, due to the depreciation of the peso, resulting in an upward adjustment of P0.4274 per kWh in the electricity rate this November. In a press briefing, the Manila Electric Company (Meralco) said…
Finance Secretary and Fiscal Incentives Review Board (FIRB) Chairperson Ralph G. Recto has lauded the recent enactment of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE), highlighting that it is a win-win for both local and international businesses and the Filipino people. Republic Act (RA) No….
The country’s gross international reserve fell by $280 million to $112.43 billion in October from $112.71 billion the previous month, from the government’s withdrawals to settle maturing foreign obligations, data from the Bangko Sentral ng Pilipinas (BSP) showed. International reserves, also known as GIR, are the BSP’s foreign assets, which are mostly invested in foreign-issued…
The amendments in 25 sections and the addition of four new provisions in the National Internal Revenue Code will remove ambiguities in the law, enhance investors’ confidence and keep the employment market at par with the rest of the world. House Speaker Ferdinand Martin G. Romualdez said President Ferdinand “Bongbong” R. Marcos Jr.’s signing of…
The country’s cement imports have steadily risen since 2019, from 30% of imports share during that year to 47% in 2023 and 51% in the first half of 2024. And the Department of Trade and Industry (DTI) is taking a proactive stance, seeking to understand the reasons behind the increased imports of cement. They want…
All indicators point to an upward trend in the Philippine economy, which has been seen to outperform its regional peers this year, despite faltering in the third quarter. “We expect the economy to again outperform many of its regional peers in terms of growth this year. The third-quarter GDP (gross domestic product) result puts the…
The Manila Electric Company (Meralco) has assured its customers that its personnel are ready to respond to electricity service concerns that may arise due to Typhoon Nika (international name: Toraji). Meralco is closely monitoring the weather as parts of its franchise area have been placed under Tropical Cyclone Wind Signal No. 1. “Meralco’s crews and…
Elon Musk’s Tesla opened its flagship store in the Philippines, with the base model offered at P2.1 million to “make it affordable for Filipinos in support of the nation’s direction towards sustainable mobility.” Tesla regional director Isabel Fan showed a concept household that is 100% powered by solar energy and capable of supplying the power…
The Philippine economy expanded by 5.2% in the third quarter, lower than the 6% percent recorded in the same period last year, but National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the country remains one of the fastest-growing economies in the region despite the slowdown. The latest data brought the year-to-date gross domestic…