ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion
BusinessMirror A broader look at today’s business
Wednesday, February 19, 2025 Vol. 20 No. 130
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
NEW PERKS PLAN FOR www.businessmirror.com.ph
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P25.00 nationwide | 2 sections 22 pages | 7 DAYS A WEEK
CAR MAKERS OUT SOON S&P potential upgrade shrugs off US tariffs impact on PHL
By Andrea E. San Juan @andreasanjuan
T
HE Revitalizing the Automotive Industry for Competitive Enhancement (RACE) Program, a new program which aims to provide incentives to local car manufacturers, will be launched in mid-March of this year, according to the Department of Trade and Industry (DTI). “The RACE Program implementation will be contained in a Joint Administrative Order [JAO] among DTI, DOF and DBM instead of an EO for easier implementation,” DTI Secretary Cristina A. See “Perks,” A2
By Reine Juvierre S. Alberto
D
FAST LANE OR FINE LANE? Motor vehicles pass through the Balintawak RFID toll gate on the North Luzon Expressway (NLEX) in Caloocan City on Tuesday, February 18, 2025. Starting March 15, the Toll Regulatory Board (TRB) will enforce cashless toll collection on major tollways, including NLEX, to streamline traffic flow and efficiency. Vehicles with insufficient funds will face fines—P1,000 for the first offense, P2,000 for the second, and P5,000 for each subsequent violation. While RFID-equipped vehicles can still enter NLEX, those without sufficient balance will be redirected to the nearest customer service center for installation. However, truckers from Central Luzon have raised concerns over the “No RFID, No Entry” rule, questioning toll operators’ readiness amid reports of operational issues at toll gates. NONOY LACZA
@reine_alberto
ESPITE United States President Donald Trump’s tariff plans that are seen to impact Asian countries, Standard & Poor’s Global Ratings’ potential credit upgrade for the Philippines only hinges on external buffers and continued fiscal consolidation. “Fortunately, for the Philippines, [it] is one of the major economies, perhaps the only major economy that we know of in the region that actually has a trade surplus with the US,” Sovereign and International Public Finance Ratings Director Yee Farn Phua said in a webinar on Tuesday. Data from the Philippine Statistics Authority (PSA) showed that Philippine exports to the US in 2023 amounted to $11.54 billion, while Philippine imports from the US reached $8.4 billion. This translates to a nearly $4-billion trade deficit for the US. (See: https://businessmirror.com.ph/2024/12/03/ dti-phl-may-not-be-focus-oftrumps-tariff-plan-dti). Government officials have See “S&P,” A2
PBBM: FREQUENT DISASTERS
TEST SOCIAL WELFARE SCHEMES By Samuel P. Medenilla
P
@sam_medenilla
RESIDENT Ferdinand Marcos Jr. said modern challenges, including frequent natural disasters, continue to put pressure on the government’s social welfare programs to become more efficient and accessible to the public through the adoption of new technology. The chief executive made the remark Tuesday in his speech at the 74th Anniversary of DSWD at the SMX Convention Center, where he called on the
agency to improve its service delivery. “Natural disasters are growing more frequent, more severe, leaving communities at greater risk. So, to address this, we utilized the Quick Response Fund or QRF—a dedicated resource for swift, effective disaster response,” Marcos said. He noted that last year, nearly 7.4 million disaster-affected Filipino families received aid through QRF so they can buy food and other items. Of these families, 540,000 See “PBBM,” A2
In the love month of February, the Philippines Graphic strikes at the heart of today’s global concerns and the commitment of private corporations to address the problems of social development, poverty, access to quality health care, education, and unemployment. We bring to our readers our February 2025 issue: Love, Social Justice & Corporate Social Responsibility in the Time of Global Challenges as we unite with the United Nations’ celebration of World Day for Social Justice on February 20.
NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following companies/Employers have filed with this Regional Office application/s for Alien Employment Permit/s: ESTABLISHMENT / ADDRESS No.
NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION
QUALIFICATION AND SALARY RANGE
AIG BUSINESS CONSULTING OPC Unit 1403 & 1406 Trade And Financial Tower, 7th Ave Cor 32nd St., Bonifacio Global City, Fort Bonifacio, City Of Taguig
1.
CHEN, NAN IT Programmer Brief Job Description: Designing and testing computer structures.
Basic Qualification: Fluent in Mandarin language. With good written and verbal communication skills. Salary Range: Php 30,000 - Php 59,999
See “dole ncr” on A6-A8
PESO EXCHANGE RATES n US 57.9170 n JAPAN 0.3823 n UK 73.1260 n HK 7.4441 n CHINA 7.9720 n SINGAPORE 43.1958 n AUSTRALIA 36.7947 n EU 60.7318 n KOREA 0.0402 n SAUDI ARABIA 15.4429 Source: BSP (February 18, 2025)