General

Para±aque City: Local brands are encouraged to increase their shares in the growing domestic market as the Philippine beauty sector is expected to grow around 6 percent annually. The beauty and personal care industries in the Philippines reached USD3.7 billion (PHP350.35 billion) in 2024 as per the data of market research company IMARC Group, according to trade show organizer Informa Markets Philippines country general manager Rungphech Rose Chitanuwat during a press conference in Para±aque City Tuesday. According to Philippines News Agency, Chitanuwat added that the local industry will reach USD11 billion in the coming years, expanding by around 6 percent

Manila: The chairperson of the House Ways and Means committee has applauded the Department of Finance’s (DOF) decision to retract proposed hikes in capital gains, donor’s, and estate taxes, describing it as a ‘practical approach’ that safeguards middle-class families while maintaining economic stability. According to Philippines News Agency, Albay Representative Joey Salceda announced that the DOF decided to shelve the proposal, noting that the government is “on track to meet its fiscal consolidation goals” with a “double-digit growth in tax collection.” The abandoned tax proposals were initially part of the draft Capital Markets Efficiency Promotion Act (CMEPA), aimed at bolstering

Manila: The national government’s revenue collections and expenditures continued to grow in the first quarter of the year, data from the Bureau of the Treasury (BTr) showed. In its latest cash operations report released on Tuesday, the BTr stated that revenue collections rose by 6.90 percent to PHP998.2 billion from PHP933.7 billion in the first quarter of 2024. According to Philippines News Agency, tax collections increased by 13.55 percent to PHP931.5 billion due to the strong performance of the Bureau of Internal Revenue and the Bureau of Customs. “The revenue agencies’ sustained growth for the third consecutive month was driven

Manila: A four-day festival in this city gets more creative and playful this year with the addition of sledge and hat-making contests to the usual events meant to celebrate the artistry and ingenuity of farmers. According to Philippines News Agency, at the opening of the festival on May 1, 2025, the manual construction of ‘pasagad’ will be showcased to demonstrate the do-it-yourself skills of farmers. “Pasagad,” or sledge, is usually made of indigenous materials and used as a carrier for various crops before the time of mechanized farming. Aside from rekindling the art of “pasagad”-making, farmers can look forward to

Manila: The Philippine information technology and business process management (ITBPM) industry is seen to finally meet its USD40 billion revenue target this year, a target that was initially set for 2024, as demand is expected to surpass supply. According to Philippines News Agency, IT and Business Process Association of the Philippines (IBPAP) president and chief executive officer Jack Madrid expressed optimism about the growth of the ITBPM sector despite uncertainties in the United States market. Speaking at the memorandum of understanding (MOU) signing with the Department of Trade and Industry (DTI), Madrid stated, “I see more demand.We are going to