Category: Business Mirror

THE income of Filipino families increased over the last two years, but an economist noted that household spending grew at a much faster pace-potentially leaving families with less room to save.

On Wednesday, the Philippine Statistics Authority (PSA) reported that average family annual income grew by 16.5 percent to P411,350 in 2025 from P353,230 in 2023.

The PSA said family income increased across all income deciles. Higher-income households, particularly those in the seventh to 10th deciles, recorded faster income growth in 2023 to 2025 than in the previous two-year period.

Wages and salaries remained the primary source of family income, accounting for 54.6 percent of the total. This was followed by entrepreneurial activities at 15.5 percent, imputed rent at 8.7 percent, cash receipts from abroad at 8.5 percent, and cash receipts from domestic sources at 5.3 percent.

Other sources, including pensions, gifts, net receipts, dividends and shared income, accounted for the remaining 7.4 percent.

The increase in family income, however, came alongside a faster rise in household expenditure.

De La Salle University economist Ma. Ella C. Oplas said this could leave families with less capacity to save.

‘Spending is growing more than income. Worse is that given the need to spend, there is lesser capacity to save,’ Oplas told the BusinessMirror.

PSA data showed that average annual family expenditure rose by 24.7 percent to P321,850 in 2025 from P258,050 in 2023, faster than the 12.8-percent growth recorded between 2021 and 2023.

The increase in spending was recorded across all income deciles. In 2025, average annual expenditure ranged from P155,600 among families in the first decile to P693,810 among those in the 10th decile.

This is also reflected in household saving sentiment tracked by the Bangko Sentral ng Pilipinas (BSP). The share of households who said they would set aside savings remained below 35 percent throughout 2023 and 2024, before improving to 40.7 percent in the first quarter of 2025 and reaching 52.3 percent by the fourth quarter.

In 2023, the share ranged from 28.6 percent to 33.9 percent, while it was between 28.7 percent and 31.8 percent in 2024.

Oplas said the faster growth in spending relative to income pointed to pressure on household budgets, while inflation also affected purchasing power.

‘The gap suggests pressure on household budgets and may indicate that families are experiencing a squeeze in their purchasing power, which is the effect of inflation,’ she added.

According to the PSA, food and non-alcoholic beverages accounted for the largest share of household expenditure in 2025 at 33.3 percent.

This was followed by housing, water, electricity, gas and other fuels at 21.6 percent; restaurants and accommodation services at 7.0 percent; transport at 6.9 percent; personal care, miscellaneous goods and services at 4.2 percent; and health at 3.5 percent.

The spending figures came amid a period of easing inflation, with annual average inflation slowing to 3.2 percent in 2024 and further to 1.7 percent in 2025, from 6 percent in 2023.

Nominal vs. real

Oplas also pointed out that the Family Income and Expenditures Survey (FIES) figures are nominal, meaning they reflect the peso value of household income and expenditure without adjusting for changes in prices.

Looking at the figures in real terms, or after accounting for inflation, she said real family income growth may be only around 5 percent, while real expenditure grew by 12.2 percent.

While the gap between real income and expenditure growth remains substantial, Oplas said the growth rates themselves were relatively modest.

Oplas added that the weak growth in purchasing power could leave households with little income left after paying for basic needs.

‘So income is not enough to save, that’s why a lot of households are living from paycheck to paycheck,’ she added, partly in Filipino.

Cebu is seeking to diversify its investment base toward manufacturing as the province looks to reduce its dependence on the services sector and generate new employment opportunities, according to an investment official.

Bryan To, a consultant to the Cebu provincial government, said the province is pursuing foreign investments in manufacturing and other emerging industries amid concerns over service-sector companies leaving Cebu.

In an interview with the Cebu Economic Journalists Association, To said the shift is aimed not only at attracting new capital but also at creating a broader economic base that can generate jobs and support related sectors such as housing, education and health care.

‘We have to do something to mitigate,’ To said, referring to the potential impact of service companies leaving Cebu and the jobs and livelihoods tied to the sector.

He said simply recycling the same industries would not be enough and that the province needs to look for new opportunities and technologies.

One of the potential investments being explored is in electric-vehicle manufacturing, with an Association of Southeast Asian Nations (Asean)-based company considering Cebu as a possible test site for electric motorcycles.

The company is involved in the production of motorcycle parts, assembly and batteries, according to the Cebu Capitol consultant, who said the proposed venture could provide an opportunity for Cebu to develop manufacturing capabilities in the emerging EV industry.

To, however, declined to identify the company or disclose specific investment details, saying its chief executive is expected to make the formal announcement during the upcoming economic forum.

The province’s investment push comes as foreign investors from several countries show interest in Cebu.

To said the three previous investment forums had attracted participants from China, South Korea, Oman, Russia, and Europe, while Vietnam and Singapore have also expressed interest.

He estimated that about P4 billion in investments had been generated from the investment forums since the initiative began, with the investments largely focused on development and infrastructure rather than tourism.

Still, Cebu’s bid to attract more manufacturing investments faces infrastructure concerns, particularly power. To said investors typically consider labor, energy and water costs when evaluating potential investment destinations. The province is therefore looking at alternative energy technologies as part of efforts to improve its competitiveness.

The investment strategy is also being supported by efforts to streamline transactions for prospective investors.

Paulo Uy, the province’s investment and promotions officer, said the planned investment promotions office will establish an ease-of-doing-business help desk that will assist investors with bureaucratic requirements and route documents to the appropriate government offices.

The province is also exploring the development of idle government properties for investment, including a planned mega food hub on the Balili property in Naga City, southern Cebu, Uy said.

For Cebu, the objective is to move beyond traditional investment areas and attract new industries that can provide jobs, technology, and longer-term economic activity.

‘We have the workforce. We have motivated people. We have multilingual people. We have an adaptable workforce. Retrainable. Very quickly,’ To said, arguing that the province’s challenge is to match that workforce with new investment opportunities.

THE Department of Migrant Workers (DMW) has processed more than 17,000 job orders providing a $500 monthly minimum salary for Filipino domestic workers since it began encouraging foreign employers to voluntarily adopt the higher wage last year.

DMW Secretary Hans J. Cacdac disclosed the figure during the agency’s budget hearing before the House Committee on Appropriations on Wednesday.

‘As of now, we have processed 17,375 job orders with a US$500 salary for domestic workers, and we continue to process these job orders,’ Cacdac said.

The DMW introduced the measure last year through Memorandum Circular (MC) No. 3 after noting that inflation over the past two decades had significantly eroded the real value of the existing mandatory $400 monthly minimum wage for Filipino domestic workers overseas.

Some Middle Eastern countries, however, expressed concern over or rejected the proposed higher minimum wage.

To address these concerns and avoid affecting existing employment contracts, the DMW made adoption of the $500 wage voluntary and offered incentives to employers and recruitment agencies that comply.

‘What we have done is incentivize the process we are going through. So we incentivize those who on their own provided domestic workers with the 500 dollars salaries per month,’ Cacdac said.

The incentives include priority processing for accreditation, registration and reaccreditation, as well as access to a pool of skilled workers to facilitate job matching and recruitment.

Cacdac acknowledged that the Middle East crisis slowed implementation of the initiative as the department shifted resources toward repatriation and assistance for affected overseas Filipino workers (OFWs).

‘I admit that our implementation was somewhat delayed due to the crisis in the Middle East; we focused on repatriation efforts and the assistance measures we provide to returning OFWs,’ he said.

Saudi Arabia and the United Arab Emirates are among the leading destinations for Filipino workers.

Aside from encouraging higher wages, the DMW is preparing to implement other provisions of MC 3, including mandatory video interviews between Filipino domestic workers and their prospective employers abroad as an additional protection measure.

‘So in this last quarter of 2026 we are braced to fully implement this video interview system,’ Cacdac said.

The DMW is also expanding upskilling programs to help domestic workers qualify for higher-paying occupations, including caregiving and jobs in the hotel and restaurant industries.

‘There is nothing wrong in becoming a domestic worker, but we want them not to be caught in a recruitment trap of being offered just domestic work,’ Cacdac said.

Latest DMW deployment data showed that domestic cleaners and helpers accounted for 22,215 of the 73,645 newly hired OFWs deployed as of June, followed by domestic housekeepers at 12,407.

ASUS Republic of Gamers (ROG) Philippines marks two decades of gaming innovation and excellence with the launch of its limited-edition ROG Edition 20 anniversary products, now available for pre-order from August 25 to September 14, 2026.

As ROG celebrates its 20th anniversary, Filipino gamers and enthusiasts can be part of the milestone through a special selection of ROG Edition 20 bundles, complemented by exclusive merchandise and promotional rewards. The celebration also kicks off with an exclusive pre-order program, giving customers limited items like ROG footballs, ROG Omni plushie, and ROG Ally when they pre-order selected models.

After the pre-order period, gamers who purchase eligible bundles during will get other premium items, like the ROG Edition 20 Destrier Gaming Chair, ROG Slash Backpack and Slash Hard-Case Luggage, subject to the official promotion mechanics.

CELEBRATING 20 YEARS OF ROG

Since its establishment in 2006, Republic of Gamers has continued to push the boundaries of gaming technology, delivering high-performance hardware and innovative experiences for gamers and enthusiasts around the world.

To commemorate this milestone, ASUS ROG Philippines introduces the ROG Edition 20 anniversary collection, bringing together specially curated bundles and limited-edition offerings designed for fans who want to be part of ROG’s 20-year gaming journey.

EXCLUSIVE PRE-ORDER REWARDS

The celebration begins even before the official sale period, with a special-pre-order promotion running from August 25 to September 14, 2026.

The first 10 qualified customers pre-order any eligible ROG Edition 20 product and/or bundle will receive rewards. Each pre-order offer comes with its own eligibility requirements, mechanics, and reward structure. Customers are encouraged to check the official ROG Edition 20 pre-order promo page for complete details and participating products.

OFFICIAL PROMOTION PERIOD

Following the pre-order period, the official ROG Edition 20 Launch Promo will run nationwide from September 15 to November 30, 2026.

The promotion is open to qualified end users who purchase eligible ROG Edition 20 products from participating ROG resellers in the Philippines. Eligible products range from a full Edition 20 DIY PC set, a whole gaming peripheral set, and an ROG NUC and ROG Swift PG27AQWP-G Edition 20 bundle. Promotional rewards are subject to product availability, eligibility requirements, and the official terms and conditions.

HOW TO CLAIM

To claim promotional rewards, qualified customers must complete the registration process through the official ROG Edition 20 Launch Promo page and submit the required purchase information and supporting documents for verification.

Once the submitted information has been validated, ASUS Philippines will notify qualified participants regarding the reward claiming and fulfillment process.

Cancer treatment can be a long and challenging journey. Aside from coping with the physical and emotional effects of cancer, many patients and their families also worry about the cost of treatment. The good news is that Patient Access Programs can help eligible patients continue their treatment by making cancer medicines more affordable.

Patient Access Programs are designed to help eligible patients reduce the cost of their prescribed cancer medicines through discounts or free medicines funded by pharmaceutical companies. Depending on the specific program, patients may receive discounts on their treatment or qualify for free doses after meeting certain eligibility requirements. These programs help lessen the financial burden of cancer care and allow patients to stay on track with the treatment plan recommended by their physician.

‘Cancer treatment should never be interrupted because of financial concerns. Patient Access Programs play an important role in helping eligible patients continue their prescribed treatment by connecting them with available support that can make life-saving medicines more affordable,’ said Dr. Mary Ondinee Manalo-Igot, Oncologist at the Asian Cancer Institute, Asian Hospital and Medical Center.

Available financial assistance

Many people are unaware that financial assistance may be available to help cover the cost of cancer treatment. By asking their healthcare team about Patient Access Programs, eligible patients can learn about the available options and determine whether they qualify. Each program has its own eligibility requirements, which typically include a valid prescription and other medical and program-specific criteria.

‘Early conversations about financial support are just as important as discussing treatment options. Patients should feel comfortable asking their healthcare team about Patient Access Programs, as these may help them stay on track with the treatment recommended by their physician,’ Dr. Manalo-Igot added.

At Asian Hospital and Medical Center, patients may inquire about available Patient Access Programs through their attending physician or by visiting Chrys Specialty Pharmacy. As a patient access hub, Chrys Specialty Pharmacy provides information on available programs, explains eligibility requirements, assists with enrollment, and works closely with the patient’s healthcare team to make the process as smooth and convenient as possible.

Government assistance

In addition to Patient Access Programs, eligible patients may also explore government financial assistance. With the guidance of the Medical Social Worker at the Outpatient Health Services, patients can apply for available government assistance programs. Chrys Specialty Pharmacy can also prepare the treatment quotation required for the application.

To further help patients manage the cost of treatment, Asian Hospital and Medical Center also partners with BDO, BPI, UnionBank, and HSBC to offer qualified cardholders flexible installment payment options, including up to three months at 0% interest. Together with Patient Access Programs and government financial assistance, these initiatives help ensure that financial concerns do not prevent eligible patients from receiving the treatment they need.

‘Our goal is to ensure that eligible patients have access to the treatment they need without unnecessary delays due to financial challenges. Through Patient Access Programs and the support of our multidisciplinary team, we help patients navigate available assistance so they can focus on their treatment and recovery with confidence,’ Dr. Manalo-Igot emphasized.

For inquiries about Patient Access Programs, you may call the Asian Hospital and Medical Center hotline at (02) 8771-9000 local 5913 or email infohub@asianhospital.com. You may also follow the hospital’s official social media pages at @AsianHospitalPH for updates, health information, and patient services.

Pagcor to launch protective app

THE Philippine Amusement and Gaming Corp. (Pagcor) announced it will soon launch an application that will enable online gaming players to use only licensed and regulated platforms. Speaking to members of the House Committee on Appropriations during the agency’s budget hearing on August 24, Pagcor Chairman and CEO Alejandro H. Tengco said the planned app, to be launch before the end of the year, aims to strengthen player protection amid the proliferation of illegal online gaming platforms. Tengco said the application will make it easier for players to play exclusively in authorized gaming sites that are subject to regulatory requirements and safeguards.

PDIC retains certification for processes

The Philippine Deposit Insurance Corp. (PDIC) announced it has maintained its ISO 9001:2015 certification for the ‘quality management system’ (QMS) of two of its core operations following a successful surveillance audit by certifying body TÜV SÜD Management Service GmbH (TÜV SÜD). Conducted in May 2026, the first surveillance audits for the year evaluated the QMS on ‘claims settlement operations’ (CSO) and ‘assessment of member banks’ (AMB), the PDIC said in a statement. The audit yielded zero major or minor non-conformities, ‘reflecting the corporation’s robust institutional compliance and high standard of service delivery,’ it added.

SG firm awards Security Bank

THE Security Bank Corp. announced it and subsidiary Security Bank Capital Investment Corp. (Security Bank Capital) earned three recognitions at the ‘Asian Banking and Finance Awards 2026,’ an event organized by Singaporean firm Charlton Media Group. The lender’s retail statement read that its banking segment was awarded ‘Mobile Banking and Payment Initiative of the Year-Philippines’ while its wholesale banking segment was awarded ‘Domestic Digital Transformation Bank of the Year.’ Security Bank Capital also received Syndicated Loan of the Year-Philippines for the P150 billion senior term loan for Terra Solar Philippines Inc.

GRAB Philippines is giving users more ways to save by expanding how they can earn and redeem GrabCoins across everyday rides, food orders, grocery purchases, and cashless payments.

Users can earn GrabCoins through eligible GrabCar bookings, GrabFood and GrabMart orders, GrabPay transactions, and selected in-app activities, then redeem them for vouchers or discounts on eligible rides, deliveries, grocery purchases, and in-store payments.

All Grab users can earn GrabCoins by completing eligible transactions and participating in in-app activities. These include making an Advanced Booking or Group Ride, hosting a GrabFood group order, ordering during special periods, and shopping from participating grocery and pharmacy categories on GrabMart.

GrabUnlimited members also receive enhanced GrabCoins on eligible cashless transactions, earning 6 GrabCoins for every P100 spent using GrabPay and 3 GrabCoins for every 100 spent using other cashless payment methods.

The popular service is also introducing Double Coins Days, a monthly promotion available to all users from the 23rd to the 25th of each month. During this period, users can earn 2× GrabCoins on selected transactions, with participating offers available on the GrabCoins homepage.

Once earned, GrabCoins can be redeemed for vouchers from the GrabCoins catalogue or applied directly to eligible GrabCar, GrabFood and GrabMart transactions through the GrabCoins toggle feature.

Users can also use GrabCoins for in-store QR Ph purchases when paying with GrabPay. GrabCoins remain valid for six months from the date they are earned.

Users can check their GrabCoins balance and browse available rewards anytime through the Grab app.

Before guests even reach the reception desk, Kaban Hotel and Casino (Boracay) sets the tone for a different kind of arrival, one that begins not with check-in, but with a moment of pause.

At the heart of its main lobby now stands Paraw Sails Painting, a commissioned installation by contemporary Filipino visual artist Jo Balbarona, unveiled as the property’s signature artistic centerpiece. The reveal was led by General Manager Sherwinne Cabalang, together with Abigael Teotico, owner of Galerie Stephanie, reinforcing KABAN’s commitment to integrating Filipino artistry into its evolving hospitality narrative.

Inspired by the iconic paraw, the traditional sailboat that has long defined Boracay’s coastal identity, the installation transforms folded sail-like forms into a sculptural composition that evokes wind, movement, and the quiet rhythm of island life. It is both homage and reinterpretation, anchored in heritage, yet expressed through a distinctly contemporary visual language.

Balbarona, born in Hindang, Leyte in 1977, is known for her vibrant visual language that bridges abstraction, symbolism, and the delicate motif of origami cranes. She initially studied Food Science and Technology at the University of the Philippines Los Baños before fully dedicating herself to art. Her practice was further shaped by training at the Art Students League of New York under abstract painter Ronnie Landfield, expanding her exploration of color, form, and emotional resonance.

Her body of work often reflects themes of hope, healing, memory, and transformation, with the Japanese tradition of senbazuru (1,000 paper cranes) serving as a recurring symbol of aspiration and renewal. Over the years, she has exhibited in leading galleries including Galerie Joaquin, Galleria Nicolas, Galerie Raphael, and Galerie Stephanie, and was recognized as a finalist in both the 2017 GSIS National Art Competition and the 2017 Metrobank Art and Design Excellence competition.

In Paraw Sails Origami, these sensibilities converge in a spatial experience that extends beyond visual appreciation. The work becomes a meditation on journey-of travelers arriving on the island, and of the island itself as it continues to evolve.

Miss Kimberly Wong, COO of KABAN, extends her message: ‘At KABAN, we believe our spaces should inspire. By placing Jo’s work at the heart of our lobby, we ensure that every guest who enters is greeted not only by hospitality, but by culture and story.’

More than a design statement, the installation reflects Kaban’s broader vision of hospitality as an immersive cultural encounter, where art is not an accessory, but an essential part of place-making. As the property moves closer to its opening, Paraw Sails Origami stands as both a visual landmark and a quiet invitation: to experience Boracay not only as a destination, but as a living narrative shaped by art, memory, and movement.

KABAN Boracay redefines arrival as art – hospitality shaped by emotion and culture, not just space.

THE National Bureau of Investigation (NBI) on Wednesday announced the rescue of five Vietnamese nationals believed to be victims of human trafficking as the agency intensifies its ongoing efforts against such crime.

NBI Director Melvin A. Matibag said the rescue operation was initiated by the agents of the NBI-Human Trafficking Division (NBI-HTRAD) as part of its expanded operations to combat human trafficking through extensive surveillance and coordination with local and international law enforcement agencies.

The operation was conducted last August 11 following an intelligence report indicating that a Vietnamese national was involved in sex trafficking.

The individual was reportedly recruiting and transporting foreign women, including alleged minors, to Manila for commercial sexual exploitation.

Acting on the said information, an undercover agent from the NBI-HTRAD contacted the individual via Telegram.

During their interactions, the individual offered women for sexual services in exchange for payment.

After negotiations, the said individual agreed to deliver a woman of his choosing to a specific location, a hotel in Pasay City, where the undercover agent was waiting.

Subsequently, the NBI together with Pasay Social Welfare and Development Department (PSWDD) hatched an entrapment and rescue operation to capture the suspect.

During the operation, the operatives intercepted two Vietnamese women which include the woman offered by the suspect to the undercover agent and another one who has access to the Telegram account that was used in the transaction.

The rescued victims told the arresting officers that their belongings were in a unit in a condominium building in Pasay, prompting the operatives to accompany them to the said place.

While inside the unit, the NBI agents discovered a transparent plastic sachet containing suspected shabu and three drug paraphernalia items.

The trafficked victims admitted that they used these illegal drugs before every meeting with their clients.

During interrogation, one of the trafficked victims confessed that she had previously been housed in another condominium unit in Pasay with other women which led authorities to conduct a follow-up operation.

The NBI-HTRAD operatives proceeded to the condominium and were able to rescue three Vietnamese nationals, who were also victims of human trafficking.

Matibag commended the NBI-HTRAD agents for their successful operation against a notorious prostitution ring.

THE Anti-Red Tape Authority (ARTA) and the Japanese Chamber of Commerce and Industry of the Philippines Inc. (JCCIPI) forged a deal to strengthen the country’s business environment further and reinforce investor confidence.

ARTA and JCCIPI signed a memorandum of understanding (MOU) at the Embassy of Japan in the Philippines. The partnership formalizes closer linkages between the national government and the Japanese business community to advance regulatory reforms, improve government service delivery, and support the effective implementation of Republic Act 11032, or the ‘Ease of Doing Business and Efficient Government Service Delivery Act of 2018.’

Under the MOU, JCCIPI and its nearly 700 member companies and affiliated organizations nationwide will serve as ARTA champions, working alongside the agency to identify regulatory bottlenecks, report red tape and fixing activities, participate in policy consultations, and promote awareness of ease of doing business initiatives within the Japanese business community.

In turn, ARTA will craft capacity-building programs, endorse and resolve complaints involving violations of RA 11032, and seek JCCIPI’s recommendations in improving government regulations, systems, and procedures.

Reforms and benefits

JCCIPI President Shigeru Shimoda and Secretary Ernesto V. Perez, who serves as ARTA director general, signed the agreement. Ambassador of Japan Kazuya Endo; JCCIPI vice president Kazuhiro Nomura; Undersecretary Juabilly P. Racho, who is ARTA’s deputy director general for Regional Field Operations; and Undersecretary Lea-Grace Salcedo, who is the agency’s deputy director general for Operations, witnessed the signing.

In his remarks, Shimoda emphasized that regulatory efficiency remains a key factor in attracting investments and enabling businesses to grow. He reaffirmed JCCIPI’s commitment to working closely with the Philippine government to create a more transparent, efficient, and globally competitive business environment, then expressed confidence that the strengthened partnership with ARTA would lead to meaningful reforms and tangible benefits for both Japanese investors and the Philippine economy.

For his part, Perez underscored ARTA’s commitment to simplifying government processes and highlighted the importance of sustained private-sector engagement in shaping practical and responsive regulatory reforms.

Representing the Japanese government, Endo welcomed the strengthened collaboration between ARTA and JCCIPI, noting that initiatives that enhance regulatory efficiency contribute to a stronger investment climate and further deepen the longstanding economic partnership between Japan and the Philippines.

Shared commitment

JAPAN remains one of the Philippines’ largest sources of foreign direct investment, trade, and development cooperation. The MOU signing reflects ARTA and JCCIPI’s shared commitment to fostering a more predictable, transparent, and efficient regulatory environment that supports business growth, encourages greater investment, and enhances the Philippines’ competitiveness as an investment hub.

As one of the country’s largest foreign business organizations, JCCIPI continues to work closely with the Philippine government and its stakeholders to advocate policies that promote sustainable economic growth, facilitate trade and investment, and strengthen the enduring economic partnership between Japan and the Philippines.