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A broader look at today’s business n
Saturday, May 16, 2026 Vol. 21 No. 214
P25.00 nationwide | 16 pages | 7 DAYS A WEEK
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DESPITE M.E. WAR, PHL REMITTANCES UP 2.3%
PINOY EDUCATOR AWARDED FOR U.K. EDUCATION CONTRIBUTION By Claudeth Mocon-Ciriaco
YEAR-TO-DATE REMITTANCES
$8.68B +2.79%
Cumulative cash remittances (Jan-Mar 2026) →Up from $8.44 billion in the same period last year. AERIAL view of Burj Khalifa and downtown Dubai, United Arab Emirates, a key employment hub for overseas Filipino workers. The Middle East accounts for about 18% of Philippine remittances, which analysts say may face a lagged impact from geopolitical tensions and rising inflation pressures affecting money sent home. TAMPATRA1 | DREAMSTIME.COM
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By Andrea E. San Juan
EMITTANCES are no longer a “high-growth” driver for the Philippines, especially as elevated inflation and slower economic growth may start canceling out the surplus amounts sent home by overseas Filipinos, analysts pointed out.
Year-to-date growth rate →Reflects moderate expansion, reinforcing analyst views that remittances remain stable but no longer a “high-growth” economic engine.
In separate messages, local analysts indicated that while the depreciation of the Philippine peso propelled the money sent home by overseas Filipinos in March despite the occurrence of the Middle East conflict, this may be offset by the rise in the prices of goods and weaker economic growth. Experts said this even after the latest data from the Bangko Sentral ng Pilipinas (BSP) showed that cash remittance inflows grew both on a month-on-month and
year-on-year basis. BSP data showed the money sent home by overseas Filipinos grew by 2.3 percent to $2.87 billion from the $2.81 billion in March 2025. Cash remittances also grew by 3.16 percent from the $2.79 billion registered in February 2026. On a year-to-date basis, the money sent home by overseas Filipinos amounted to $8.68 billion, up 2.79 percent from the $8.44 bilContinued on A2
Over 1.9-M state workers, half from DepEd, get midyear bonus
By Reine Juvierre S. Alberto
T
HE Bureau of Internal Revenue (BIR) expects its revenue collections to reach P271.558 billion this May, higher than its target, as it concluded the filing and payment of the 2025 annual income tax return (AITR). At the BIR National Command Center on Friday, Deputy Commissioner for Operations Group Vener S. Baquiran reported that the BIR’s expected collection of P271.558 billion
₧3.579T BIR total collection goal for 2026
this May is P3.207 billion higher than its P268.351-billion goal for the month. Baquiran said revenue regions are projected to collect a total of P95.128 billion, while the Large Taxpayers Service will raise P176.430 billion. Continued on A2
By Ada Pelonia
Total midyear bonus fund for 2026
→Higher than the P63.7 billion allocated in 2025, reflecting expansion in personnel base and salary adjustments.
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M
Continued on A2
BIR projects May collections at ₧271.6B, higher than target
DA launches $1-B WB-funded program to modernize farms
₧73.456B
ORE than 1.9 million government employees will receive their mid-year bonuses starting Friday, the Department of Budget and Management (DBM) announced. In a statement on Friday, the DBM said the release of the mid-year bonus will begin on May 15. The government earmarked P73.456 billion for this year’s mid-year bonus, higher than the P63.7 billion allocated in 2025. The mid-year bonus will be granted to all civilian personnel across the Executive, Legislative, and Judicial branches, regardless of employment status, including regular, casual, contractual, appointive, elective, full-time and part-time workers.
A LONDON-BASED Filipino educator and executive headteacher was awarded the Member of the Order of the British Empire (MBE) by Prince William, the Prince of Wales, on May 13 at Windsor Castle, for his valuable contribution to the UK education system. UK headteacher Edison David was recognized for his contributions to improving academic standards and the educational leadership development, nurturing the potential of learners, in England. “An incredibly proud and humbling moment to receive my MBE at Windsor Castle from His Royal Highness Prince William,” David, who hails from Tarlac, posted on Facebook. He was also a public school teacher in Tarlac City before he moved to the United Kingdom. “This honor reflects the support, encouragement and inspiration of so many people throughout my journey. A day I will always remember with immense gratitude and pride,” said David, who even wore traditional barong from Lumban, Laguna, during the investiture, representing Filipino heritage. The MBE is among the United Kingdom’s highest honors, awarded to individuals who have made significant contributions to education, public service, and community leadership.
LATIK OF THE TOWN Draped in indigenous materials and inspired by the beloved Filipino delicacy puto-latik, perform-
ers from Barangay Canlalay parade through the historic town plaza of Biñan City after winning the 16th Puto-Latik Costume Parade Contest during the fiesta celebration honoring Feast of San Isidro Labrador, the patron saint of farmers. Mayor Angelo Alonte awarded the grand prize of P25,000 and a trophy to the winning contingent in the city known for preserving centuriesold traditions rooted in Laguna’s agricultural and culinary heritage. BERNARD TESTA
HE Department of Agriculture (DA) on Friday launched a $1-billion program funded by the World Bank to modernize the country’s farm sector and benefit around 5 million farmers nationwide in a five-year period. The Philippine Sustainable Agriculture Transformation (PSAT) program is a project under the World Bank’s Program-for-Results (PforR) model, which releases funds based on a specific set of outcomes rather than upfront disbursements.
“Agriculture sits at the crossroads of climate change, food security and economic growth.” — Sarah Hulton OBE, UK Ambassador to the Philippines
Continued on A2
PESO EXCHANGE RATES n US 61.4920 n JAPAN 0.3884 n UK 82.4423 n HK 7.8510 n CHINA 9.0592 n SINGAPORE 48.2025 n AUSTRALIA 44.3972 n EU 71.7735 n KOREA 0.0412 n SAUDI ARABIA 16.3869 Source: BSP (May 15, 2026)