BusinessMirror
BALANCING INTERESTS: ASEAN ENGAGES RUSSIA WHILE KEEPING GLOBAL LINKS OPEN
President Ferdinand Marcos Jr. and Russian President Vladimir Putin shake hands on the sidelines of the RUSSIA-ASEAN Summit in Kazan, Russia, Wednesday, June 17, 2026. The summit brought together leaders of the Association of Southeast Asian Nations...
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2ND-ROUND EFFECTS OF WAR PROMPT RATE HIKE
LINGERING second-round effects from war-related supply shocks prompted the Monetary Board to raise the key policy rate by 25 basis points for the second time this year. Given the recent developments in the Middle East, Bangko Sentral ng Pilipinas...
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GOVT BAGS $2.5B FROM 2ND GLOBAL BOND OFFER
THE Philippines successfully raised $2.5 billion from its second tripletranche global bond offering this year, backed by strong investor demand and favorable market conditions, allowing the government to increase the deal size. The order book reached...
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Qatar OFWS front-load remittances
THE money sent home by Filipinos working in conflictstricken Middle East may have declined in April, but Filipino workers in Qatar took advantage of the depreciation of the Qatari Riyal, as it was the lone country in the region where migrant workers...
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NO QUICK PRICE RELIEF FROM MIDEAST PEACE
ANY drop in global oil prices following the announced peace agreement between the United States and Iran is unlikely to translate into immediate price relief for Filipino consumers, with economists warning that food prices may take longer to adjust as...
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BSP RATE MOVE: BANKS, THINK TANKS ARE SPLIT
DAYS ahead of the third scheduled policy meeting for the year, bank analysts and think tanks seem to be split on how the central bank will dictate the monetary policy path moving forward. This, as it moves to combat the rising prices of goods, with the...
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CAUTIOUS INVESTORS: FDI NET INFLOWS DOWN
FOREIGN direct investments (FDI) net inflows plunged in Q1 2026 due to “still-cautious” investor sentiment amid high inflation and a slow growth environment. The Philippine economy saw a 17-percent decline in long-term capital inflows from foreign...
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CORE INFLATION ABOVE TARGET BAND FLAGGED
EXPERTS view the recent spike in core inflation, which has breached the upper end of the central bank’s target band for the first time in over two years, as a sign of second-round effects requiring vigilance. Data from the Philippine Statis‑ tics...
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FOREIGN INVESTMENTS DIP CITED IN GIR PLUNGE
THE country’s foreign reserves, its buffer against external shocks, dropped to a 16-month low as of the end of May, due to lower gold holdings and foreign investments amid increased market volatility due to the Middle East conflict. Preliminary data...
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I’M OLD, I OWE, SO OFF TO WORK I GO!
FOR nearly two years after retiring, pharmacist Josephine Ballares tried to settle into a quieter life at home. But the transition to retirement did not feel as expected. After decades of working in a busy pharmacy environment, she found the lack of...
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TRANSPORT, FOOD COSTS EASE; MAY INFLATION IS 6.8%
DESPITE the slowdown in headline inflation in May, economists said the Philippines remained vulnerable to imported price pressures, with rice, gasoline, and liquefied petroleum gas (LPG) accounting for more than a third of the overall increase in...
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OECD CUTS PHL GROWTH OUTLOOK FROM 5.1% TO 3.2%
THE Philippines could be headed for one of its weakest growth years since the pandemic recovery as the escalating Middle East conflict fuels inflation and squeezes household spending, according to the Organisation for Economic Cooperation and...
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WEAK PESO FLAGGED AS GOVT DEBT HITS ₱18.47T
DESPITE a slight decline in April, the Philippine government’s outstanding debt hit P18.470 trillion, as the peso’s vulnerability still resulted in more obligations to pay. Outstanding debt of the national government marginally declined by 0.09...
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PHL FACTORY OUTPUT RISES ON NEW ORDERS
THE Philippine manufacturing sector recovered in May as output rose due to new orders, but Standard & Poor’s (S&P) Global Market Intelligence warned of possible disruptions to supply chain caused by geopolitical tensions. The country’s Manufacturing...
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THE BUSINESS OF ‘I DO’
THE Philippine wedding industry’s flexible setup has driven it into a billion-peso sector, but industry professionals say the sector now needs institutional support to protect its gains and sharpen its regional edge. One of the country’s premier event...
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DOUBLE-DIGIT INFLATION SEEN AMID WAR IMPACTS
THE Philippines could again see double-digit inflation for the first time in nearly two decades as second-round effects from the Middle East conflict continue to spread across the domestic economy, economists from the University of Asia and the Pacific...
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‘WAR TO HEIGHTEN RISKS TO FINANCIAL SYSTEM’
THE Financial Stability Coordination Council (FSCC) has flagged risks to the Philippine financial system, particularly debt levels for both corporate and household sectors amid the ongoing Middle East conflict. In a statement on Monday, the FSCC noted...
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RECALIBRATE OIL TAX HALT TRIGGER–CPBRD
THE government’s fuel excise tax suspension mechanism may no longer respond fast enough to rising oil prices under the current pricing environment, potentially delaying relief measures even as consumers face sharper inflation pressures, a research unit...
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THE REMITTANCE RACE
AMID concern over expectations of lower cash remittance levels from conflict-stricken Middle East countries, Filipinos working in these countries and the seafarers sent more money back home, apparently fearing that prices of goods will continue to...
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NEW DBM CHIEF: NEVER AGAIN A FLOOD SCANDAL
NEWLY-APPOINTED Budget Secretary Kim Robert C. De Leon pledged to hasten government spending and safeguard public funds so as not to repeat controversies from the past and accelerate economic growth. “We will not allow the budget to be abused again...
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JAN-APRIL BOP DEFICIT EXCEEDS GAP IN 2025
THE surge in import bill and soft demand for Philippine exports widened the country’s balance of payments (BOP) 4-month deficit to a level that exceeded the $5.66-billion gap for all of 2025. Latest data from the Bangko Sentral ng Pilipinas (BSP)...
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FLOOD MESS SHADOW: Q1 INFRASPEND DIPS 43.5%
LOWER infrastructure spending continued to drag overall government spending in the first quarter, with capital outlay plunging by nearly half amid stricter project validations due to last year’s flood control corruption controversy. Latest data from...
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LATEST OUTAGES: THE CASE VS CENTRALIZED ENERGY INFRA
THE latest rotating blackouts across Luzon and Visayas, which sparked an investigation by the energy regulators amid alarm from business groups, underscore the systemic risks created by concentrating generation and transmission infrastructure in a...
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DEMAND SPIKES STRAIN LUZON, VISAYAS GRIDS
THE Luzon and Visayas grids, which have been placed on yellow and red alerts on Wednesday, have set a new record high for electricity demand. As of May 12, Luzon’s peak demand reached an all-time high of 14,268 megawatts (MW), surpassing the previous...
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2-MO FDI NET INFLOWS DOWN 34.8% TO $1.03B
FASTER inflation and weaker economic expansion, coupled with global uncertainties, could delay long-term investments into the Philippines as these economic challenges tend to raise operating costs and weaken profit expectations, analysts pointed...
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Q1 N.G. DEBT PAYMENTS DOUBLE TO ₱737.405B
DEBT payments of the government doubled to P737.405 billion in the first quarter of the year, driven by a 4.5-fold increase in amortization. Latest figures from the Bureau of the Treasury (BTR) showed that the government’s debt payments surged by...
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“ POOR ACADEMICS ALARMING; HOW ABOUT CHARACTER?
ALTHOUGH academics are very important, characters should always be there.” This was stressed by Stonyhurst Southville International School–malarayat (SSISM) Campus Principal Donnabelle L. Atienza in an interview with Businessmirror, following the...
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ASEAN SUMMIT BUILDS CRISIS-READY REGION
PRESIDENT Ferdinand Marcos Jr. pushed for a crisis-ready Association of Southeast Asian Nations (Asean) during the concluded 48th Summit of the regional bloc in Cebu with proactive mechanisms on energy, food, trade, maritime security and migrant worker...
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JOBLESS RATE REFLECTS M.E. WAR’S EARLY IMPACT
THE country’s 5 percent unemployment rate in March may already be reflecting the early impact of the ongoing Middle East conflict on the domestic labor market, with economists warning that employment conditions could deteriorate further in the coming...
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Q1 GROWTH, INFLATION IN APRIL SEEN HIGHER
MOODY’S Analytics said Philippine economy likely picked up in the first quarter and grew by 3.9 percent, but inflation may have also accelerated to 5 percent in April. In its weekly Asia Pacific Economic Preview, Moody’s Analytics said “March-quarter...
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Q1 BORROWINGS UP 35% ON FRONTLOADING TACK
THE national government has already borrowed P1 trillion in just three months, relying on domestic sources as a buffer against global uncertainty, data from the Bureau of the Treasury showed. In the first quarter of 2026, the government’s gross...
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TRICKY BALANCE
The oil price shocks and related impacts of the Middle East conflict have added fuel to the call for increases in workers’ pay; and economists concede there’s no clear view of the right path. WITH prices already elevated and expected to remain so amid...
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‘Cost crunch puts firms, workers on same side’
EMPLOYERS and workers are carrying “legitimate burdens” as rising costs ripple through the economy, some business groups said, underscoring a shared pressure point as Labor Day discussions turn to wages and job stability. Current wage petitions are...
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HIGHER Q1 IMPORT BILL WIDENS TRADE DEFICIT
THE country’s import bill rose by 8.9 percent year-on-year and continued to exceed export receipts, widening the trade deficit in the first quarter. Latest data from the Philippine Statistics Authority (PSA) showed that the trade gap reached $12.8...
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M.E. CRISIS MAY PUSH Q1 GROWTH BELOW 3%
PHILIPPINE growth may slow further in the first quarter of 2026, as lingering fallout from last year’s corruption scandal and renewed pressures from the Middle East crisis weigh on the economy, the country’s chief economist said. Department of...
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DOE: BAN ON NEW COAL POWER PROJECTS STAYS
ENERGY Secretary Sharon Garin said Monday the ban on new coal-power projects stays. “We have a moratorium on new coal projects. If a permit was issued by 2019, even if you haven’t done it yet, you can complete it. But if you want a new permit, you...
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THINK TANKS SEE MORE RATE HIKES IN JUNE, AUG
RESEARCH institutions are expecting the Bangko Sentral ng Pilipinas (BSP) to deliver two quarter-point rate hikes at its upcoming policy meetings in June and August, raising the key interest rate to 5 percent amid a “deteriorating” inflation outlook...
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PEZA PUSHES ‘FRICTION-FREE’ EXPANSION IN TRADE LANES
RECENT policy changes removing electronic cargo tracking requirements for qualified exporters are aimed at reducing “friction” in supply chains and improving the country’s trade competitiveness, the Philippine Economic Zone Authority (Peza) said. This...
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‘ADDRESS RISKS BEHIND FITCH NEGATIVE OUTLOOK’
FOLLOWING Fitch Ratings’ “negative” outlook on the Philippine sovereign, economists said the government must urgently address the risks that prompted the downward revision to safeguard its investment-grade standing. In a rating action commentary,...
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PHL PAYMENTS SOAR ON MATURITY OF GOVT DEBT
THE national government’s debt payments in the first two months of 2026 surged by 258 percent year-on-year due to large bond maturities and a weaker peso. Latest data from the Bureau of the Treasury (BTR) showed debt payments ballooned by 258.18...
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ATOMIC SHIFT
THE Iran war’s global energy shock is causing some nations in Asia and Africa to boost nuclear power generation and spurring atomic energy plans in non-nuclear countries on both continents. Asia, where most of the Middle Eastern oil and natural gas...
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BSP MAY YET HOLD OFF ON RATE HIKE–EXPERT
THE Bangko Sentral ng Pilipinas (BSP) still has room to keep the policy rate unchanged at its April 23 policy meeting as demand-side pressures remain contained, according to an economist of Standard Chartered Bank. In a statement on Friday, Standard...
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CRISIS SEEN TEMPERING REMITTANCES GROWTH
FAMILIES of overseas Filipino workers (OFWS) should start managing the remittances of their loved ones wisely as faster inflation and higher fuel prices in host economies could make it difficult for those working abroad to send more money back...
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VAT ON OIL STAYS, FUND EYED IN CRISIS RESPONSE
CONCERNED over the potential impact of a suspension of Value Added Tax (VAT) on petroleum products on government response to the Middle East crisis, President Ferdinand Marcos Jr. said Monday he is not keen on the proposal made by several groups,...
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2-MO BORROWINGS RISE 60% ON RISKS HEDGING
THE national government’s gross borrowings for the first two months of the year soared by 60 percent year-onyear to raise funds early amid geopolitical risks, including tensions in the Middle East. Latest data from the Bureau of the Treasury (BTR)...
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TOURISM TORCH PASSED, FINALLY
AS the new Tourism Secretary, Bernadita “Dita” Angara-mathay faces the incredible task of encouraging more foreign tourists to visit the Philippines, at a time when the Middle East conflict has resulted in higher jet fuel prices—something that will...
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ADB cuts PHL growth forecast for ’26 to 4.4%
THE Philippines’s growth is set to stall at 4.4 percent this year, matching its 2025 pace, as tensions in the Middle East cloud the outlook, the Asian Development Bank (ADB) said Friday. In its Asian Development Outlook, the multilateral lender cut...
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WAR RISKS CAUSE S&P OUTLOOK DOWNGRADE
INCREASED risks to the Philippines’s external and fiscal position from the Middle East conflict prompted Standard & Poor’s (S&P) Global Ratings to downgrade its outlook to “stable” from “positive,” as uncertainty remains high. The credit rater on...
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WB CUTS PHL GROWTH OUTLOOK TO JUST 3.7%
THE World Bank sharply downgraded its growth outlook for the Philippines this year, flagging the country’s heavy exposure to the Middle East conflict as a key risk to expansion. In its East Asia and Pacific economic update, the Washingtonbased lender...
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MARCH INFLATION AT 4.1%, HIGH PRICES TO PERSIST
PRICES of basic commodities are expected to remain elevated in the coming months as higher oil prices continue to ripple through the economy, with economists warning this could mirror the surge seen during the Russiaukraine war. On Tuesday, the...
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GROWTH-INFLATION SWAP IN REGION A RISK–AMRO
EVEN as the Bangko Sentral ng Pilipinas (BSP) is seen to adopt a neutral stance this year given that inflation forecast still settles within the central bank’s target band, a regional economic think tank warned that sustained rise in global energy...
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BMI DOWNGRADES PHL FORECAST ON WAR RISKS
PROLONGED geopolitical tensions stemming from the Middle East conflict are expected to weigh more heavily on the Philippines’s economic growth, prompting an international research firm to downgrade its forecast. BMI, a unit of Fitch Solutions, now...
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RE-ACHING FOR THE MOON?
THE renewable energy (RE) goals of the Philippines will be achieved, possibly earlier than the targets set, despite significant, ongoing setbacks. When the Renewable Energy Act of 2008 was passed, the National Renewable Energy Program (NREP) 2011-2030...
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END-FEB N.G. DEBT HITS RECORD HIGH OF ₱18.16T
OUTSTANDING debt of the national government hit a fresh record high of P18.159 trillion as of the end of February 2026, a level that could rise further on a weaker peso and heightened global uncertainty. Latest data from the Bureau of the Treasury...
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END-FEB N.G. DEBT HITS RECORD HIGH OF ₱18.16T
OUTSTANDING debt of the national government hit a fresh record high of P18.159 trillion as of the end of February 2026, a level that could rise further on a weaker peso and heightened global uncertainty. Latest data from the Bureau of the Treasury...
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EXPERTS TRACKING OIL SHOCKS PASS-THROUGH
FINANCIAL institutions are now keeping an eye on how fast war-driven oil price shocks will transmit into food and transport prices in the Philippines after the Bangko Sentral ng Pilipinas (BSP) signaled that it cannot raise its key policy rate yet as...
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PHL-CHINA SCS DIALOGUE TACKLES ENERGY AND OIL
THE Philippines and China were at loggerheads over continued clashes in the South China Sea, as senior officials resumed bilateral dialogue in Quanzhou City, Fujian Province on March 27–28. While locked in sovereignty disputes over islands and maritime...
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PHL TOURISM FACES HEADWINDS AS FUEL PRICES SURGE, FLIGHTS CUT
PHILIPPINE tourism stakeholders are bracing for a possible impact on inbound tourists and domestic travelers as the conflict in the Middle East continues to create uncertainties in the cost of airfares and travel packages to their desired...
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PHL TALKING TO CHINA, JAPAN ON ENERGY DEALS
THE Philippines is working on two key fronts in oil diplomacy, with senior officials in separate talks with China and Japan on possible energy cooperation to ensure stable oil supply amid signs the war in the Middle East might persist longer. Senior...
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PESO HITS NEW RECORD LOW AS CRISIS DEEPENS
THE Philippine peso plunged to a new record low of P60.30 against the greenback on Monday as “war rhetoric” by the United States and Iran intensified. Data from the Bankers’ Association of the Philippines (BAP) showed the peso closed at P60.30 per $1...
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INTEREST RATES SEEN RISING ON COSTLY OIL
THE Philippines’s central bank could end up hiking policy rates by as much as 175 basis points if the price of global crude oil lingers at $100 per barrel, Japan-based think tank Nomura’s said in a report. As the conflict in the Middle East enters...
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ACID TEST FOR ASEAN: A CRISIS IN TAIWAN
THE war in the Middle East has once again laid bare the fragility of global crisis-response systems. From Israel to Gaza, governments scrambled to evacuate their nationals as rockets fell and air routes narrowed. Thailand alone repatriated nearly...
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Philippines convenes to save its mangroves
AMID the rising threats to the coastal communities throughout the archipelago from intensified storms, rising sea levels, shifting coastlines, and infrastructure developments that challenge science based conservation initiatives, hundreds of stakefrom...
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CRISIS WEAKENS PESO TO NEW RECORD LOW
THE Philippine peso slumped to a new all-time low as it breached the 60-to-the-dollar level on Thursday due to escalating tensions in the Middle East which fueled the strength of the dollar as investors pour their assets into the “safe haven”...
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BSP EYES ‘PERSISTENCE, SEVERITY’ OF PRICE JOLTS
THE “severity” and “persistence” of oil price shocks will shape the central bank’s monetary policy decisions in the next few quarters, according to an official of the Bangko Sentral ng Pilipinas (BSP). Zeno Ronald R. Abenoja, BSP Deputy Governor for...
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INTEREST SWELLS DEBT SERVICE TO RECORD ₱2.1T
THE government paid a record P2.103 trillion to service its debt in 2025, driven by a surge in interest payments even as principal amortization slightly declined, according to the Bureau of the Treasury (BTR). Treasury data showed the government’s...
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A LONG-OVERDUE FIX FOR METRO MANILA COMMUTES
FOR many workers in Metro Manila, long and unpredictable commutes continue to take a toll on productivity and daily life. But transport officials and industry leaders say expanding transit-oriented developments (TODS) and intermodal hubs could help...
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Asean ministers call for immediate halt to hostilities after emergency meeting
ASEAN must bolster coordination and informationsharing among foreign ministries as their embassies and consulates work to evacuate nationals trapped by escalating missile strikes involving the United States, Israel, and Iran. This priority was...
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‘HIGH OIL PRICES COULD TRIGGER 4% INFLATION’
INFLATION could hit 4 percent as early as March if the price of Dubai crude oil persists above $100 per barrel, according to a bank economist. “Initially, when this war was starting last week, we were looking at close to 4 percent inflation for...
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‘PREPARE FOR WORST,’ DOE COUNSELS PUBLIC
PREPARE for the worst but hope for the best. A day after oil firms started implementing the highest, largest single-week increase, Energy Secretary Sharon Garin said Tuesday that the worst is not yet over. “For me, I would expect the worst because...
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PESO DOWN TO RECORD LOW AS OIL PRICES SOAR
THE Philippine peso has plunged to a new record low of P59.50 against the dollar on Monday, after global crude oil prices surged past the $100 per barrel level amid the ongoing conflict in the Middle East. Data from the Bankers’ Association of the...
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