DOF stands pat on BIR, BOC collection targets

Inquirer.net - Oct 21, 2026

MANILA, Philippines — The Department of Finance (DOF) sees no need yet to revisit the government’s tax revenue targets for the year despite the mixed performance of its two main collection agencies, with the Bureau of Internal Revenue (BIR) still trailing its goal while the Bureau of Customs (BOC) remains on track. This is according

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Higher electricity demand seen in 2027

Oct 21, 2026

Higher electricity demand seen in 2027

MANILA, Philippines — A Department of Energy official said Tuesday that the super El Niño will drive power demand above this year’s levels in 2027. Based on data from the DOE, electricity demand for next year may reach 22,231 megawatts (MW). The figure is significantly stronger than this year’s forecast, which may range from 17,993 MW

PH auto sales revved up in September

Oct 21, 2026

PH auto sales revved up in September

MANILA, Philippines — The Philippine automotive market showed signs of a fightback in September, with sales jumping 20.6 percent from the previous month, although they remained below year-ago levels as consumers continued to feel the pinch from the war in the Middle East. A total of 35,722 vehicles were sold in September, down 5.8 percent

DA delays inspection facility construction to next year

Oct 21, 2026

DA delays inspection facility construction to next year

MANILA, Philippines — Increasing costs forced the Department of Agriculture (DA) to delay construction of inspection facilities in strategic areas nationwide to 2027, from the original schedule this year. Under the 2026 national budget, the DA received P1.2 billion to build cold examination facilities in agriculture (CEFAs) in Manila, Subic, and Davao. READ: DA eyes Subic

DTI races to secure trade deals amid China row

Oct 21, 2026

DTI races to secure trade deals amid China row

MANILA, Philippines — Manila is pushing to conclude several free trade agreements (FTAs) before the end of the year, as a worsening diplomatic dispute with China raises questions about the potential implications for trade between the two countries. Any disruption to trade between Manila and Beijing could have significant implications for the Philippines, which relies heavily

Sugar sector opposes tax hike amid El Niño, pest threats

Oct 21, 2026

Sugar sector opposes tax hike amid El Niño, pest threats

MANILA, Philippines — The sugar industry is urging the Department of Finance (DOF) to reconsider its proposal to raise the excise tax on sweetened beverages, warning that the increase could further hurt local producers already grappling with pest infestations, El Niño, and other production challenges. On Tuesday, the Philippine Sugar Millers Association Inc. (PSMA) said in a

More MROs coming to Clark airport, says BCDA

Oct 21, 2026

More MROs coming to Clark airport, says BCDA

MANILA, Philippines — Lufthansa Technik Philippines will not be the last maintenance, repair and overhaul (MRO) provider to set up shop at Clark International Airport, as the government is eyeing an agreement with another European company as early as November. Bases Conversion and Development Authority (BCDA) President and CEO Joshua Bingcang said a prospective investor

BSP’s RRR cut plans clouded by inflation pressures

Oct 21, 2026

BSP’s RRR cut plans clouded by inflation pressures

MANILA, Philippines — Further cuts to banks’ reserve requirements remain an option for the Bangko Sentral ng Pilipinas (BSP), but its ongoing campaign to raise interest rates to tame inflation means the move is not an immediate priority, Nomura Global Markets Research said. In a report following discussions with central bank officials across Southeast Asia, Nomura

Marcos admin open to selling Bataan nuclear power plant

Oct 21, 2026

Marcos admin open to selling Bataan nuclear power plant

MANILA, Philippines — The Philippine government might opt to sell the Bataan nuclear power plant (BNPP) in Morong, as the Department of Energy (DOE) saw encouraging results in reviving the mothballed facility. Speaking to reporters on Tuesday, Energy Secretary Sharon Garin said that aside from disposing of the asset, the government can also take part

SEC clears Aznar Shipping’s P670-M IPO

Oct 21, 2026

SEC clears Aznar Shipping’s P670-M IPO

MANILA, Philippines — Cebu-based Aznar Shipping Corp. has secured Securities and Exchange Commission (SEC) approval for an initial public offering (IPO) that could raise up to P670 million to help finance fleet expansion and shipyard development. The Aznar family-led shipping operator plans to offer up to 1 billion common shares at a maximum price of

PH gov’t spending more when the economy slows–BSP study

Oct 21, 2026

PH gov’t spending more when the economy slows–BSP study

MANILA, Philippines — The Philippines’ shift toward countercyclical fiscal policy, in which government spending rises during economic downturns, could support long-term development and ease the burden on the central bank to stabilize the economy, research by the Bangko Sentral ng Pilipinas (BSP) showed. In a discussion paper titled “Governance and Cyclicality of Philippine Fiscal Policy,” BSP

Razon consolidates interest in WPS exploration firm

Oct 21, 2026

Razon consolidates interest in WPS exploration firm

MANILA, Philippines — The Razon Group is consolidating its stake in a company with oil and gas exploration contract in the West Philippine Sea (WPS). In a disclosure on Tuesday, Apex Mining Co. Inc. said Prime Oil and Gas Inc. had offered to acquire the 30-percent participating interest of Monte Oro Resources and Energy Inc. (Morei)

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