9 January 2009 - The local auto industry posted positive growth in 2008 despite the challenges it faced brought about by the rise in oil prices and the global financial crisis. In a report released by the Chamber of Automotive Manufacturers of the Philippines, total vehicle sales last year went up 6% with 124,449 vehicles sold. Read more

11 August 2008 – Foreign direct investments in May posted a net outflow of $95 million, according to the Bangko Sentral ng Pilipinas. The BSP attributed the negative figure, the first in eleven months, to the cautiousness of investors who are still worried about the fragility of the global financial markets and the weak economies of developed countries like the US.

10 July 2008 –Effective today, Chevron, Petron, Shell, Total, Unioil, and Flying V are slashing their gasoline prices by P1 a liter. The rollback will not make much of an impact on soaring pump prices, but after the 18 price hikes so far since January, any rollback is a welcome respite for motorists. Read more

8 July 2008 – A new round of public transportation fare hikes was approved today by the Land Transportation Franchising and Regulatory Board and will take effect on 14 July after new guidelines have been completed and issued to jeepney and bus operators nationwide.
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3 July 2008 – MBC Research expects the headline inflation rate in June could have risen to more than a 9-year high of 10.5%, or even a 14-year high of 11.0%, from the 9.6% recorded in May. Read more

1 July 2008 – After two test runs in July 2007, electric jeepneys will be operating in Makati City starting today. The e-jeepney is the first non-fuel-driven mode of public transportation in Southeast Asia. Read more

18 June 2008 – In the April 2008 Labor Force Survey released by the National Statistics Office, the unemployment rate, or the proportion of persons without a job or business and who are actively looking for work, reached 8%, higher than the 7.4% posted in the April 2007 labor survey.
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17 June 2008 – In the first five months of the year, Bangko Sentral–registered foreign portfolio investments posted a net outflow of $271.8 million, a stark contrast to the $1.7 billion net inflow in the same period last year. Read more

17 June 2008 – President Gloria Macapagal-Arroyo today signed Republic Act No. 9504, which provides a new tax relief package for all income earners. The highlight of the newly signed law is a provision that exempts minimum-wage earners, from both the private and public sectors, from paying income tax. Read more

13 June 2008 – The Bangko Sentral ng Pilipinas has released its latest official report on remittances from overseas Filipinos coursed through banks in the first four months of the year. From January to April, total remittances reached $5.36 billion, 14.5% higher than the year-ago level. Read more

26 May 2008 – A World Bank study entitled “Doing Business in the Philippines 2008” revealed that, among 21 Philippine cities, Taguig is the most business-friendly in terms of ease in starting a small or medium-sized business. On the other hand, Makati and Marikina edged out the other cities when it comes to securing a construction license to build a commercial warehouse. Read more

23 May 2008 – The Board of Investments recently released the official investment figures for the first four months of the year for local and foreign projects registered under the BOI. The approved investments from January to April amounted to P75.5 billion, up by 285% from the P19.6 billion investment inflow in the same period last year. Read more

23 May 2008 – With oil prices hitting a new high of US$135 a barrel in the global oil trading market yesterday, Energy Secretary Angelo Reyes has announced the total removal of the 1% import tariff on oil starting 1 June. Read more

2 May 2008 – Firms that employ at least 500 employees are being encouraged to provide for the rice requirements of their employees by engaging in rice production or rice importation. This is the call of Executive Order 721, which was signed today by President Gloria Macapagal-Arroyo, in order to help ensure the supply of rice and the efficient and cost-effective distribution of this staple food in the country. Read more

21 April 2008 – The Department of Labor and Employment has announced that it is not possible to order an increase in wages by 1 May, Labor Day, despite workers’ growing clamor for a wage hike.
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16 April 2008 – The National Statistics Office released today the final results of the 2007 Census of Population, which placed the Philippine population at 88,574,614 as of 1 August 2007. The count is 12 million higher than the recorded 2000 figure of 76.5 million, translating to an average annual population growth rate of 2.04%.Read more

12 February 2008 – The Department of Energy is ready to launch its program phasing out incandescent bulbs in the country by 2010. The switch from incandescent bulbs to compact fluorescent lamps was one of the concrete recommendations that arose from the just concluded 2008 Philippine Energy Summit.Read more

8 February 2008 – A World Bank publication, “Combating Corruption in the Philippines” dated May 2000, cited a study’s finding that 20% of government funds for projects in 1998 ended up as kickbacks.Read more

31 January 2008 – The National Statistical Coordination Board released today the National Accounts report for the last quarter of 2007, which includes the estimated total remittances of overseas Filipino workers in 2007.
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Quarterly Economic Review
 MBC Research forecasts 6.6%–6.8% GDP growth in Q4 2007

30 January 2008 – MBC Research estimates the country's GDP growth to have picked up to between 6.6% to 6.8% in the last quarter of 2007, up from 5.5% in the last quarter of 2006. Read more

24 January 2008 – The National Economic and Development Authority’s Committee of Infrastructure today presented the updated Comprehensive and Integrated Infrastructure Program (CIIP) 2007-2010 at a Joint Cabinet Level and Technical Board meeting. The total cost of the infrastructure projects to be implemented until 2010 amounts to P2.03 trillion. Read more

21 January 2008 – According to the latest Social Weather Stations survey on self-rated poverty, 46% of families in the Philippines, accounting for 8.1 million Filipinos, consider themselves poor. This finding of the Fourth Quarter 2007 Social Weather Survey indicates a decline of six percentage points from the 52% figure reported by the survey covering the previous quarter.Read more

18 January 2008 – Despite the threat of the strengthening peso, the country’s business process outsourcing sector still achieved its target of a 40% growth in revenues in 2007. Read more

18 January 2008 – President Gloria Macapagal-Arroyo signed last week Executive Order 691, a directive that slashes the import tariff on diesel to 1% from 3%. For motorists, this will translate to a P1 discount for every liter of diesel starting 1 February.
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18 January 2008 – To avoid a garbage crisis, the Department of Environment and Natural Resources has issued the Rizal province a permit to operate the new 19-hectare sanitary landfill in Rodriguez, Rizal.Read more

16 January 2008 – The downgrading of Philippine aviation safety by the United States’ Federal Aviation Administration will adversely affect the expansion plans of Philippine Airlines in 2008. Read more

OFW remittances in Jan-Nov hit US$13.1B

 15 January 2008 – Overseas Filipino workers' remittances coursed through banks from January to November 2007 reached US$13.1 billion, 14.1% higher than in the same period in 2006. Read more

Tourism receipts hit US$4.9B in 2007

11 January 2008 – The Philippines' international tourism receipts reached US$4.9 billion in 2007 as the tourism industry reached a new high in visitor arrivals with 3,091,993 visitors compared to 2,843,345 in 2006. Read more

Car sales top 100,000-unit mark in 2007

10 January 2008 – The Philippine car manufacturing industry exceeded its full-year sales target of 108,000 units in 2007. This is also the first time the industry has gone past the 100,000-unit mark in a decade. Read more

Net FDI inflows reach $1.9B in
January-September

10 December 2007 – Net foreign direct investments in the first nine months of the year reached US$1.9 billion, 22.3% higher than the US$1.6 billion posted a year ago.
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Transportation strike and fishing holiday loom due to oil price hike

10 December 2007 - Several militant groups are planning to hold protest actions in response to the rising prices of petroleum products. Last weekend, oil companies again raised fuel prices, bringing the price of diesel to P38.45 per liter. Read more

Bill seeks to protect cab passengers

A bill seeking to protect the taxi-riding public from holdups, theft, and overcharging has been filed in the House of Representatives by Caloocan Rep. Mary Cajayon.
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Biodiesel improves air quality in metropolis

5 December 2007 – Judging from data produced by the Asian Institute of Petroleum Studies, the mandatory use of a 1% biodiesel blend in diesel products sold in the country beginning in May has significantly improved air quality in Metro Manila. Read more

RP coal demand to rise to 12.25M metric tons in 2008

29 November 2007 – Based on the Philippine Energy Plan, the amount of coal needed to fuel the production needs of the country will reach 12.25 million metric tons next year. Of that amount, only a third will be sourced locally; the remaining two-thirds will be imported from China, Indonesia, and Australia. Read more

Strong peso cuts gas prices by P2 a liter

19 November 2007 – The impressive performance of the Philippine peso against the U.S. dollar lowered the cost of gas by P2 a liter in January to October, according to the Bangko Sentral ng Pilipinas. Read more

Domestic air travel lifted by cheap fares

15 November 2007 – According to data released by the Civil Aeronautics Board, domestic air travel soared in January to September, boosted by airlines' aggressive marketing campaigns. Read more

Gov't won't resort to oil tariff cut

8 November 2007 – To mitigate the impact of surging world oil prices, the government will resort to long-term measures instead of oil tariff cuts. According to the Cabinet committee on tariff-related matters, the proposed oil tariff reduction would lead to a reduction in pump prices by P0.23 a liter, but the government would stand to lose P450 million in revenues. Read more

P1B to be released to mitigate hunger

7 November 2007 – President Gloria Macapagal-Arroyo has ordered the Department of Budget and Management to release an additional P1 billion this year to fund the government's antihunger and antipoverty programs. The immediate release of the funds was ordered by the president during the Anti-Hunger Task Force meeting held today at the Manila Hotel. Read more

BPO industry upbeat despite negative effect of rising peso

6 November 2007 – According to the Business Processing Association of the Philippines, the umbrella organization of call centers and other IT-enabled service providers in the country, the strengthening peso has had a negative effect on the industry's revenue margins. Read more

Tourist arrivals hit 2.2 million in January-September

5 November 2007 – The number of tourists that visited the Philippines in January to September reached 2,265,993, 8.6% better than the 2,085,783 visitors in the same period last year. This means the Department of Tourism is only 734,000 tourists shy of its 3 million target for the year.
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Air travel between ASEAN capitals fully liberalized by December 2008

2 November 2007 – The ten members of the Association of Southeast Asian Nations are set to sign an agreement that will fully liberalize air travel between their capitals by December 2008. Read more

First CNG stations open for business

24 October 2007 – Pilipinas Shell today launched the commercial run of its “mother-daughter” refilling stations for compressed natural gas extracted from its Malampaya gas-to-power project in Palawan. Shell's main CNG station is situated in Tabangao, Batangas, while the refilling station was set up in Biñan, Laguna. Read more

Tourism receipts to hit US$4 billion this year

24 October 2007 – Philippine tourism receipts are expected to reach US$4 billion in 2007 due to the rise in the number of long-staying and high-spending visitors to the country, says the Department of Tourism. This is a substantial increase from last year, when tourism receipts from 2.84 million visitors were measured at US$2.7 billion (P135 billion). Read more

Metallic minerals production value up
58.8% in H1

23 October 2007 – According to the Department of Environment and Natural Resources, the production value of metallic minerals in the first half of the year rose 58.8% to P39.42 billion from P24.83 billion during the same period last year. Rising metal prices in the world market boosted the local metallic mineral output. Read more

Belgian-led consortium is highest bidder for Calaca power plant

17 October 2007 – Calaca Holdco, a consortium led by Belgian firm Suez-Tractebel SA, has won the bidding for the National Power Corporation's 600-megawatt Calaca coal-fired power plant in Batangas with a US$786.53 million offer. The Power Sector Assets and Liabilities Management Corporation has confirmed that the Calaca Holdco offer bested the two other bids submitted by AES Corporation and First Gen Corporation. Read more

Hotel occupancy rate hits 74.8% in
January-August

9 October 2007 – The Department of Tourism reports that the hotel occupancy rate in Metro Manila reached 74.8% in January to August, up from 71.3% in the same period last year. This is a clear indication of the steadily increasing number of tourist arrivals. Read more

RP not ready for nuclear power—Greenpeace

5 October 2007 – Department of Energy secretary Angelo Reyes is considering tapping nuclear power to reduce the cost of electricity in the country and address future energy security concerns. Read more

NBN deal scrapped

3 October 2007 – President Gloria Macapagal-Arroyo yesterday told Chinese President Hu Jintao that she has decided “not to continue” the controversial national broadband network deal with the Chinese telecommunications firm ZTE Corporation. In Shanghai for a visit, President Arroyo relayed the message during a meeting with President Hu. Read more

1 October 2007 – Cebu City came in fourth in the list of most-favored emerging business process outsourcing destinations worldwide in an industry study published by global services and investment firm Tholons. Three Indian cities—Chennai, Hyderabad, and Pune—topped the list. Read more