Amid rate cut expectations, peso slides further By Reine Juvierre S. Alberto
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IRAN CLOSES AIRSPACE TO COMMERCIAL AIRCRAFT FOR HOURS AS TENSIONS WITH US REMAIN HIGH
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HE Philippine peso hit another record low on Thursday, closing at P59.46 per dollar, as the resilient United States economy kept the greenback firm. The peso closed at P54.46 against the US dollar, down by two centavos from Wednesday’s historic low finish of P59.44. Data from the Bankers’ Association of the Philippines (BAP) showed the local currency opened at P59.43 per $1. Its intraday high was at P59.35, while it traded at its worst at P59.47. Trading volume increased to
$1.079 billion from the previous day’s $951 million. A trader said the peso fell further after new data releases showed that producer inflation and retail sales reflected the resilience of the US economy, which further supports the case for the US Federal Reserve to hold key rates in the coming months. “The local currency might continue to depreciate as statements from several Fed officials could solidify views of more cautious rate-cutting pace of the US central bank this year,” the trader said. At home, Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said markets are anticipating the Bangko
Sentral ng Pilipinas (BSP) to reduce the policy rate by 25 basis points in February. Despite this, Ricafort said BSP Governor Eli M. Remolona Jr. had stressed that the central bank prevents sharp peso depreciation and signaled that the monetary easing cycle is nearing its end. Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the peso weakened anew as rate cut expectations put pressure on the local currency. Ravelas said the peso could range within the P59.250 to P59.50 levels in the near term. Meanwhile, Ricafort said the greenback is stronger against major currencies, including the Japa-
nese yen, due to potential snap elections in Japan, as well as the China-Japan tensions over Taiwan. World gold prices also hit a new record of $4,642.98 per ounce on January 14, 2026, as geopolitical risks in Iran and Venezuela, concerns over the Fed’s independence and rising oil prices, Ricafort added. Oil prices reached two-month highs after US President Donald Trump announced a 25-percent tariff on goods from countries buying Iranian oil, raising fears of a renewed trade conflict with China, which imports about 90 percent of Iran’s crude, Ricafort said.
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Friday, January 16, 2026 Vol. 21 No. 96
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BRAVE PIONEER Aboitiz Economic Estates and Tsuneishi Heavy Industries on Thursday marked the start of the maiden voyage of M/V Brave Pioneer, the world’s first methanol-powered Kamsarmax bulk carrier. Constructed by Tsuneishi (Cebu), Inc. at West Cebu Estate, the vessel underwent
comprehensive inspections to ensure full compliance with international maritime standards prior to deployment. Formally named and revealed by His Excellency President Ferdinand R. Marcos Jr., M/V Brave Pioneer—the 81,200-metric-ton dual-fuel methanol Kamsarmax bulk carrier—represents a significant advancement in lower-emission maritime transport. The vessel is engineered to reduce carbon dioxide emissions by approximately 10 percent, nitrogen oxides by up to 80 percent, and sulfur oxides by as much as 99 percent compared to conventional ships, reflecting the growing integration of cleaner fuel technologies in commercial shipping. Story in A8 News, “Marcos eyes maritime leadership as PHL launches first methanol dual-fuel vessel.” PHOTOS BY PCO
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By Reine Juvierre S. Alberto @reine_alberto
HE Philippines is set to post another record high in cash remittances from overseas Filipinos in 2025, with inflows reaching $32.11 billion from January to November, as favorable foreign exchange rates boost sending power. Latest data from the Bangko Sentral ng Pilipinas (BSP) showed that cash remittances from overseas Filipinos grew by 3.2 percent year-on-year to $32.11 billion from January to November 2025, compared to $31.11 billion during the same period in 2024. Cash remittances are cash sent by land-based and sea-based workers through the banking system. The top source of remittances during the 11-month period was the United States, trailed by Singapore, Saudi Arabia and Japan.
On a monthly basis, cash remittances rose by 3.6 percent to $2.91 billion in November 2025 from $2.80 billion in November 2024. According to Executive Director Jeremaiah M. Opiniano of the Institute for Migration and Development Issues (IMDI), the Philippines could see cash remittances from overseas Filipinos reaching a historic high after the country logged a 3 percent month-on-month growth rate for eight consecutive months. See “Remittances,” A9
PHL OPENS VISA-FREE ENTRY TO CHINESE NATIONALS JAN. 16 By Malou Talosig-Bartolome
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HE Department of Foreign Affairs (DFA) announced that starting January 16, 2026, Chinese nationals may enter the Philippines visa-free for up to 14 days, provided their travel is strictly for tourism or business purposes. The initiative, aligned with President Ferdinand Marcos Jr.’s directive to boost trade, investments, tourism, and peopleto-people exchanges between the Philippines and China, will be valid for one year and subject to review before expiration. Visa-free entry will be allowed only through the Ninoy Aquino
International Airport (NAIA) in Metro Manila and the Mactan-Cebu International Airport (MCIA) in Cebu. Travelers must present a passport valid for at least six months beyond their stay, confirmed hotel accommodation, and a return or onward ticket. The DFA stressed that the 14day stay is non-extendable and non-convertible to other visa categories. For the past years, the DFA and the intelligence community had been hesitant to provide visa-free access to Chinese nationals, citing national security concerns amidst geopolitical tensions in the West See “Visa-free,” A2
Aim for 8% growth, FFCCCII prods govt By Andrea E. San Juan
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HE Philippines should raise its “national economic ambition” by targeting to achieve sustained annual growth of 8 percent and beyond to attain “transformative” progress, according to the Federation of Chinese Chambers of Commerce and Industry, Inc. (FFCCCII). FFCCCII President Victor Lim stressed this in a statement on Thursday following the recent revision and lowering of the country’s economic growth targets for 2026 through 2028. In a recent press briefing at Malacañan Palace, Department of Economy, Planning and Development (DepDev) Secretary Arsenio M. Balisacan said the economic managers had revised the growth targets downward during their December meeting. The Cabinet-level Development Budget Coordination Committee (DBCC) trimmed the economic growth target to 5 to 6 percent this year and 5.5 to 6.5 percent for next year from the previous 6 to 7 percent goal.
FFCCCII President Victor Lim
The FFCCCII chief said the scaling down of the country’s growth targets is a “wake-up call and a sobering administrative acknowledgement of real headwinds.” While the group of Filipino-Chinese entrepreneurs note the cited causes—the “corrosive” aftermath of See “Growth,” A2
PESO EXCHANGE RATES n US 59.4220 n JAPAN 0.3751 n UK 79.8810 n HK 7.6205 n CHINA 8.5206 n SINGAPORE 46.1602 n AUSTRALIA 39.6939 n EU 69.1969 n KOREA 0.0406 n SAUDI ARABIA 15.8450 Source: BSP (January 15, 2026)