ECCP at Work

Marcos appoints ERC chairman
President Ferdinand R. Marcos, Jr. on Thursday appointed Francis Saturnino C. Juan as the chairman and chief executive officer (CEO) of the Energy Regulatory Commission (ERC) effective Aug. 8. He replaces Monalisa C. Dimalanta, who submitted her “irrevocable resignation” last week.

142 firms qualify for green energy bidding
The Department of Energy (DoE) on Thursday said 142 bidders have qualified for the fourth round of the Green Energy Auction (GEA-4), which aims to install 10,653 megawatts (MW) of renewable energy (RE) capacity across the country.

Recto sees below 6% growth this year
Philippine economic growth may have picked up in the second quarter, but full-year expansion is likely to be below 6% amid uncertainty over US tariffs, Finance Secretary Ralph G. Recto said.

Metro Manila’s new minimum wage rate starts on Friday
With the new minimum wage rate in Metro Manila taking effect on July 18, the Department of Labor and Employment (DOLE) reminded employers to address wage distortion.

Maharlika, DICT collaborate for digital infrastructure projects
The Department of Information and Communications Technology (DICT) and state-run Maharlika Investment Corp. are collaborating to help speed up the country’s digital transformation.

Cash remittances up 2.9% in May
Money sent home by overseas Filipino workers (OFWs) rose by an annual 2.9% in May, although the monthly haul was the lowest in 12 months, data from the Bangko Sentral ng Pilipinas (BSP) showed.

World Bank says job reforms to drive PHL growth to nearly 7%
Reforms to enhance job creation and quality could propel Philippine economic growth to close to 7% and transform it into a middle-class economy by 2040, the World Bank said.

Marcos greenlights record P6.8-T 2026 budget
Philippine President Ferdinand R. Marcos, Jr. on Tuesday approved the proposed P6.793-trillion national budget for 2026 that the Executive branch will submit to Congress later this month.

CA orders ERC to act on SMGP’s price adjustment plea
The Court of Appeals (CA) has directed the Energy Regulatory Commission (ERC) to act on the request for price adjustments filed by San Miguel Global Power Holdings Corp. (SMGP) in 2022.

BSP preparing new guidelines for smaller ‘digital-centric’ banks
The Bangko Sentral ng Pilipinas (BSP) is planning to issue a draft circular within the year to establish guidelines to assess the “digital centricity” of smaller banks.

Cebu Pacific passenger count surges to 13.9M in H1
The early opening of schools failed to dampened travel demand as Cebu Pacific saw a 21-percent jump in passenger volume for the first half of 2025. The Gokongwei-led low-cost carrier said it flew 13.9 million passengers. This increased from a year ago’s 11.5 million.

BSP could cut by another 50 bps this year — Nomura
The Banko Sentral ng Pilipinas (BSP) could cut by another 50 basis points (bps) this year, which would bring the benchmark to below 5% by yearend, Nomura Global Markets Research said.

Indonesia-US trade deal poses competition challenges for PHL
Philippine exports to the US, especially garments and textiles, will face stiffer competition after Indonesia obtained a 19% tariff rate, according to an industry group. Foreign Buyers Association of the Philippines President Robert M. Young called the Indonesia-US deal a “big blow.”

Green energy auctions seen on track despite ERC revamp
Assistant Secretary Mylene C. Capongcol said that the DoE does not expect delay since the green energy auction reserve (GEAR) price for the fourth round of GEA (GEA-4) has been released and work on GEA-5 is ongoing.

Council approves O&M deal for North-South rail project
The Economy and Development Council has approved the P229.32-billion operations and maintenance (O&M) contract for the North-South Commuter Railway (NSCR) project.

PHL mulls listing, tax hike on e-games
The Philippine government is considering sweeping reforms for online gambling operators, including mandatory stock exchange listings and increased taxes, in a bid to tighten oversight and reduce the social costs of gambling addiction.

Gen Zers, Millennials fuel PHL co-working space boom
The co-working or flexible office segment is poised for growth despite increasing return-to-office mandates. The appeal of co-working spaces lies in their flexibility, letting companies easily scale up or down without the long-term commitments of traditional office leases.