Tag: Bing

ANZ Research Slashes Philippines Economic Growth Forecasts

ANZ Research Slashes Philippines Economic Growth Forecasts

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It seems that economic disappointment lack of breakthroughs will keep hounding the Philippines in the short term as ANZ Research slashed its economic growth forecasts for 2026 and 2027, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the report of BusinessWorld. Some parts in boldface…

THE PHILIPPINE ECONOMY could see its weakest post-pandemic growth this year as last year’s corruption controversies continue to weigh on confidence, compounded by accelerating inflation and rising interest rates amid the Middle East conflict, ANZ Research said.

In its latest outlook for the third quarter, the New Zealand-based think tank slashed its 2026 gross domestic product (GDP) growth forecast for the Philippines to 3.9% from 4.7%.

It likewise cut its growth outlook for 2027 to 5% from 5.6% previously.

“The Philippines’ outlook is more constrained by weak household and business confidence, elevated inflation, and higher interest rates,” ANZ Research Chief Economist for Southeast Asia and India Sanjay Mathur said on Tuesday.

Economy, Planning, and Development Secretary Arsenio M. Balisacan said on Monday that the economy may grow by 3.5-4.5% this year, due to underspending and the fallout from the US-Iran war.

ANZ’s projections are below the government’s original targets of 5-6% for this year and 5.5%-6.5% next year. The Development Budget Coordination Committee has yet to release revised macroeconomic assumptions.

For 2028, ANZ sees the Philippine economy expanding by 5.5%, still below the government’s 6%-7% goal for the year.

Mr. Mathur noted that the weaker outlook also reflects expectations that lingering governance issues from last year’s flood control mess will prevent any significant rebound in public spending.

“Public spending likely bottomed in (the first quarter of) 2026, but a material recovery is unlikely until governance issues surrounding infrastructure projects are fully resolved,” he said.

In the first quarter, government spending grew by 3.22% year on year to P1.491 trillion from P1.444 trillion. It slightly improved at end-April after rising by 5.12% to P1.996.2 trillion from P1.899 trillion a year ago.

In late 2025, a flood control corruption scandal involving Public Works officials, private contractors and lawmakers took a major toll on public and business sentiment and dampened investments and government spending. This dragged the economy to its weakest growth since the COVID-19 pandemic at 4.4% last year from 5.7% in 2024.

“The Philippines stands out with negligible fiscal support, reflecting tight fiscal constraints and legal rigidities in fuel and utility pricing,” Mr. Mathur said.

Let me end this post by asking you readers: What is your reaction to this recent development? Are you convinced that the national economy will not achieve 6% growth rate during the final years of the Marcos administration? Do you think the administration’s hosting of the ASEAN Summit and participation in a big meeting with Vladimir Putin in Russia will not result in economic breakthroughs for the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Five Foreigners Arrested In Parañaque City Over Online Scam

Five Foreigners Arrested In Parañaque City Over Online Scam

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Recently in the City of Parañaque, five foreigners were arrested by elements of the Bureau of Immigration (BI) over a suspected online scam hub located inside a condominium complex, according to a news report by The Daily Tribune.   

To put things in perspective, posted below is an excerpt from the news report of The Daily Tribune. Some parts in boldface…

Operatives of the Bureau of Immigration (BI) arrested five foreigners during an operation targeting a suspected online scam hub in Parañaque City.

The operation was conducted in the early hours of 17 June at a condominium complex in Sapphire Seaview Park, Parañaque City following intelligence reports linking the location to an alleged “love scam” operation that reportedly victimized individuals through online deception and cryptocurrency-related schemes.

Nabbed in the operation were Chinese national Tang Shun, Malaysian man Chia Kong Loon, as well as Burmese nationals Kum Htoi, Myo Oo, and Kyaw Tint Lwin. They were apprehended after immigration verification allegedly revealed violations of Philippine immigration laws.

According to intelligence information received by the BI, the location was allegedly being used for fraudulent online activities.

Authorities also received reports that some workers connected to the operation were being restricted from freely leaving the premises, prompting further investigation.

During the operation, one of the foreign nationals reportedly disclosed information indicating that multiple condominium units were being utilized for unlawful work-related activities. This led to the apprehension of the five foreign nationals.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you suspicious that there could be Chinese nationals living in your local community who could be secretly scamming people online? Do you believe that the concept of the Parañaque Renaissance includes criminal activities in the city committed by illegal aliens? Do you consider the city as a hot spot of illegal aliens today?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Australian And Three Locals Arrested In Las Piñas City After Illegally Occupying Private Residence And Defying Authorities

Australian And Three Locals Arrested In Las Piñas City After Illegally Occupying Private Residence And Defying Authorities

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Recently in Las Piñas City, local police officers arrested an Australian national and three locals for disobedience following their act of illegally occupying a private residential property, according to a news report by the Manila Bulletin. One of their companions, however, escaped and remains at large.

To put things in perspective, posted below is an excerpt from the Manila Bulletin report. Some parts in boldface…

An Australian and three Filipino men were arrested after allegedly occupying a private residential property and threatening its caretaker in Las Piñas City on June 23.

Las Piñas City Police chief Col. Ricky Neron identified the arrested suspects as Israel, 49, an Australian; Alberto, 58; Lowie, 56; and Jeffrey, 38. Another suspect, identified only as Art, escaped arrest and is now the subject of a police manhunt.

According to Neron, the incident occurred at around 8:30 a.m. on Veraville Drive, where the suspects allegedly entered and occupied the residential property owned by a 91-year-old man. Police said the group threatened the property’s stay-in caretaker and ordered him to leave.

The suspects reportedly gave the caretaker P10,000, allegedly as transportation fare, while forcing him to vacate the premises.

The caretaker immediately informed the elderly property owner, whose authorized representative subsequently sought police assistance and filed a complaint.

Responding officers from the Pamplona Substation proceeded to the property to verify the report and found the suspects occupying the residence without authority.

Police said the suspects were ordered to vacate the property but refused to comply, prompting officers to arrest them for direct disobedience.

Let me end this piece by asking you readers: If you are a resident of Las Piñas City, what is your reaction to this development? Are you thankful to the police for resolving the problem and apprehending the suspects?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

First Pig Kidney Transplant Trial In Japan Could Happen As Early As 2028

First Pig Kidney Transplant Trial In Japan Could Happen As Early As 2028

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Clinical trials of pig kidney transplants to humans could start as early as 2028 in two specific hospitals in Japan, according to a news report by Kyodo News. This one-of-a-kind development, if successful, could help Japan address the shortage of organ donors.

It should be recalled that a recipient of a pig kidney in the United States survived a record-breaking 271 days before the organ had to be removed. Over a hundred thousand people in America are currently waiting for organ transplants and most of them in need of kidneys.

To put things in perspective, posted below is an excerpt from the report of Kyodo News. Some parts in boldface…

A Japanese startup said Monday it will conduct clinical trials of pig kidney transplants to humans at two hospitals as early as 2028, which if successful would likely make them the first of their kind in the country.

It is hoped that organ transplants from pigs to humans will address the shortage of organ donors in Japan. Pig kidney transplants have previously been carried out on a trial basis in the United States and China.

According to the Meiji University venture, PorMedTec, the kidneys, which have been genetically modified to prevent organ rejection, will be transplanted at Hokkaido University Hospital in Sapporo and Shonan Kamakura General Hospital in Kamakura, Kanagawa Prefecture.

“We want to lay the foundation of xenotransplantation in Japan,” Hiroshi Nagashima, a Meiji University professor and representative director of the company, said in a press release, referring to the surgical transfer of non-human animals’ organs to human recipients.

The startup imports genetically modified pig cells developed by U.S. biotechnology company eGenesis Inc. and produces pigs with the same features in Japan. The genes of the animal have been modified in 69 areas to prevent organs from being rejected by recipients’ bodies.

The Japanese firm said it will finalize plans for the clinical trial and hopes to promote the widespread use of the treatment for patients with severe kidney failure once manufacturing and marketing approval is granted.

Let me end this piece by asking you readers: What is your reaction to this development? What is the first thing you think of when it comes to transplanting animal organs into human bodies? Are you concerned that kidneys from pigs are not 100% compatible with humans? How many members of your local community suffer from kidney-related problems?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

S&P Global Slashes Philippines GDP Growth Forecast

S&P Global Slashes Philippines GDP Growth Forecast

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In its latest analysis and assessment, S&P Global predicts weaker gross domestic product (GDP) growth for the Philippines at 4.1% this year, according to a news report by BusinessWorld.

To put things in perspective, posted below is an excerpt from the report of BusinessWorld. Some parts in boldface…

The economic drag from the Middle East-war driven oil shocks and last year’s flood control mess fallout could slow the Philippines’ growth to 4.1% this year, S&P Global said.

In its latest economic outlook for Asia-Pacific, the debt watcher cut its gross domestic product (GDP) growth forecast for the Philippines to 4.1% for this year, from 5.8% previously.

S&P Global Asia-Pacific Chief Economist Louis Kuijs and Senior Economist Vishrut Rana noted that the Philippines emerged as a laggard in the region, which was largely resilient at the start of the year.

“Asia-Pacific economic growth largely held up in early 2026. In the first quarter, GDP growth met or exceeded expectations in most economies, with generally solid contributions from both exports and domestic demand,” Mr. Kujis and Mr. Rana said.

“However, growth significantly lagged expectations in the Philippines, where the energy shock combines with a sharp reduction in public infrastructure spending related to misutilization of funds,” they added.

In the first quarter, the economy unexpectedly grew by 2.8%, its weakest growth since the COVID-19 pandemic, due to spiraling oil prices and the lingering effects of last year’s corruption scandal.

The S&P economists noted that countries in the Asia-Pacific, including the Philippines, are heavily reliant on oil imports from the Middle East, which made them vulnerable to disruptions in the region’s key energy facilities and the Strait of Hormuz.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government has any plans to stimulate economic growth? Do you see the GDP of the Philippines growing at a slower rate over the next several quarters? Do you think the economic managers of the current administration should be replaced?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Japanese Embassy Confirms Temporary Visitor Visas Remain Free For Filipinos

Japanese Embassy Confirms Temporary Visitor Visas Remain Free For Filipinos

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Following the recent announcement of significant increases of foreigner entry visa fees that will take effect on July 1, the Japanese Embassy in the Philippines confirmed that the temporary visitor visas (good up to 90 days maximum) are still free of charge for Filipinos, according to a GMA News report.

To put things in perspective, posted below is an excerpt from the report of GMA News. Some parts in boldface…

Temporary visitor visas for Filipinos remain “gratis” or free of charge, the Japanese embassy in Manila announced on Thursday.

The embassy’s announcement came in the wake of the Japanese government’s announcement that single-entry visa fees for foreign nationals will increase fivefold, from 3,000 yen (about P1,170) to 15,000 yen (around P5,850), for applications filed starting July 1.

“Please note that a temporary visitor visa (for a stay of a maximum of 90 days) for a Philippine national remains gratis,” the embassy announced on its website and on Facebook.

The Japanese embassy in Manila also announced the “Cabinet Order on Fees Collected by Consular Officers,” which sets forth visa fees, has been amended and comes into effect on July 1, 2026.

“For visa applications accepted at overseas diplomatic missions on or after that date, the fee, converted into Japanese yen, will be approximately 15,000 yen for a single-entry visa and approximately 30,000 yen for a multiple-entry visa,” the embassy said.

“As a general rule, payment shall be made in the local currency of the country (region) where the Embassy or Consulate-General of Japan issuing the visa is located,” it added.

The embassy said fees may not be required or the amount may differ, “depending on the purpose of your visit and your nationality.”

Let me end this piece by asking you readers: What is your reaction to this development? Do you think this good news will encourage more Filipinos to visit Japan using the temporary visitor visa? Do you know anyone who applied for a Japanese visa lately?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

US Embassy Warns Filipinos About Visa Scams

US Embassy Warns Filipinos About Visa Scams

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It is a sad fact that scammers here in the Philippines continue to hound people using a wide variety of methods. The scammers – both locals and foreigners – have gotten so sophisticated and arrogant, they dared to target Filipinos who are pursuing United States visas. That said, the US Embassy in Manila officially warned Filipinos about visa scams and they clarified that applicants should rely only on official sources of the US when it comes to visa applications and processes, according to a news report by the Manila Bulletin.

To put things in perspective, posted below is an excerpt from the report of the Manila Bulletin. Some parts in boldface…

The United States Embassy in the Philippines has warned Filipino visa applicants about scammers who claim they can guarantee approval, reminding the public that US visas are issued only after a proper evaluation by consular officers.

In an advisory posted on its official social media pages, the embassy stressed that visa applicants should obtain information only from official US government sources and be wary of individuals offering shortcuts or guaranteed approvals.

“We cannot guarantee visa issuance. If someone guarantees you a visa, it is a scam,” the embassy said.

The embassy emphasized that it does not communicate with applicants through Viber or Telegram, endorse travel agencies or lawyers, accommodate special connections or shortcuts, or guarantee the approval of visa applications.

It reiterated that every application is evaluated individually under US immigration laws, and the final decision rests solely with consular officers.

The embassy advised applicants to rely only on its official website, the U.S. Visa Customer Service Center website, and the US Department of State’s visa page for accurate information on visa requirements and procedures.

It also reminded the public that official embassy emails end only with the @state.gov or @ustraveldocs.com domains.

Let me end this post by asking you readers: What is your reaction to this recent development? Were you a victim of scammers with regards to applying for a US visa? Do you know anyone who got scammed over the same purpose?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Gang Leader Apprehended In Parañaque City

Gang Leader Apprehended In Parañaque City

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Recently in the City of Parañaque, a gang leader who evaded local authority for two years was finally arrested by police officers successfully found him, according to a news report by the Manila Bulletin. 

To put things in perspective, posted below is an excerpt from the news report of the Manila Bulletin. Some parts in boldface…

A suspected criminal gang leader who had allegedly been evading authorities for two years was finally arrested in Parañaque City on Saturday, June 20.

The suspect, identified only as Ranille, 42, and tagged by police as the No. 6 Most Wanted Person at the station level, was apprehended at around 5:00 p.m. in Barangay San Isidro, Parañaque City.

According to police, Ranille is believed to be the leader of a criminal group and had been in hiding since a warrant was issued against him for illegal possession of a firearm.

Operatives from the Station Intelligence Section conducted surveillance and tracking operations that led to his arrest.

Police said a warrant of arrest had been issued against Ranille for violation of Republic Act 10591, or the Comprehensive Firearms and Ammunition Regulation Act.

The warrant was issued by Judge Regina Paz A. Ramos-Chavez of the Regional Trial Court (RTC) Branch 274 in Parañaque City on March 14, 2024, with a recommended bail of ₱120,000.

Let me end this post by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, does the arrest of the suspected gang leader make you feel safer now?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

New Campaign To Boost Domestic Tourism In The Philippines

New Campaign To Boost Domestic Tourism In The Philippines

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In a serious attempt to boost domestic tourism in the Philippines, the Department of Tourism (DOT) has a new campaign titled “Discover More to Love”, according to a news article by the Philippine News Agency (PNA).

This new move by the DOT makes sense since it is very difficult for the nation to attract foreign tourists. The DOT admitted that Vietnam and other destinations of the Association of Southeast Asian Nations (ASEAN) are more affordable for foreign travelers.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Department of Tourism (DOT) is leading a new campaign called “Discover More to Love” to boost domestic travel within the Philippines.

Among its major features is the introduction of curated and discounted travel-related packages by local tourism stakeholders, including several hotels from across the country.

In an interview over the weekend, Tourism Secretary Dita Angara-Mathay said the campaign would not replace but instead complement the DOT’s primary tourism branding “Love the Philippines,” with the intention of allowing tourists to define their travel experience in their “own personal way.”

“(The thrust is) local muna pero hopefully, we will expand that to international (The thrust would be initially domestic, but hopefully, we will expand that internationally),” she said.

“The Filipinos love to travel, especially Gen Z and the others, it’s an adventure for them, and we want them to be sound board on what else we can do to improve.”

Domestic travel remains a strong driver of tourism in the Philippines. Last year alone, it generated at least PHP3.26 trillion in tourist spending, up by 3 percent from PHP3.16 trillion in 2024.

Beyond strengthening local travel, Angara-Mathay said the DOT is also stepping up efforts to recover the decrease in Korean travelers, while continuing to woo the rest of its top source markets.

She admitted that the competitive pricing in other Southeast Asian destinations is pulling in more Koreans, which traditionally has been the Philippines’ number one source market for foreign visitors.

“South Korea’s population is declining, but they’re travelers. Ngayon, ‘yong slot natin kinuha ng Vietnam, kinuha ng other ASEAN countries kasi kalahati lang ang kanilang cost to go there (Now, our slot has been taken by Vietnam and other ASEAN countries because it only costs half to go there),” she explained.

The DOT, for its part, she said, would continue engaging stakeholders to introduce and craft new “tour bundles” to make the cost of travel to the Philippines more affordable and “predictable.”

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the DOT’s new campaign will significant boost domestic tourism which itself has been thriving? Do you think it is possible for domestic tourism spending to reach P4 trillion this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

Subic Bay Port Operations Revenue Jump 20% To P389 Million In 1st Quarter Of 2026

Subic Bay Port Operations Revenue Jump 20% To P389 Million In 1st Quarter Of 2026

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The Subic Bay Metropolitan Authority (SBMA) recently announced that the port operations revenue reached P389 million in the first quarter of this year which reflects a 20% jump compared to the previous year.

To put things in perspective, posted below is an excerpt from the SBMA’s official announcement. Some parts in boldface…

The Subic Bay Metropolitan Authority (SBMA) generated PHP 389 million in revenues from port operations during the first quarter of 2026, with a 20 percent increase from last year’s PHP 324 million.

SBMA Senior Deputy Administrator for Port Operations Ronnie Yambao disclosed that the Seaport Department alone generated PHP 302 million of the said amount, the Airport Department with PHP 50 million, and the Trade Facilitation and Compliance Department (TFCD) at PHP 36 million.

According to Yambao, the Seaport Department generated PHP 302 million from higher Vessel and Cargo Charges which increased by 31 percent, while the number of ship calls also increased by 20 percent.

The Port of Subic recorded a total of 463 ship calls by foreign and domestic vessels, 171 of which were bulk and break-bulk vessels, recording a 29 percent increase. Meanwhile, there was also an 18% increase in recorded port calls with 159 liquid bulk vessels.

“Consequently, revenues from SBMA’s share in Pilotage Services also increased by 20 percent, while Tugboat Services posted a significant 75 percent growth,” he said.

Revenues from wharfage fees also escalated by 24 percent with an increase in total volume of containerized cargo by 3 percent. This was driven mainly by a 5 percent growth in imports, equivalent to 28,070 TEUs.

Major contributors included assorted food products from Ecossential Foods Corp., and rubber products from Yokohama Tires Philippines Inc. Export cargoes likewise grew substantially by 31 percent, reaching 15,757 TEUs, primarily contributed by DSV Air and Sea Inc. and Yokohama Tires Philippines Inc.

Meanwhile, non-containerized cargo volume posted a remarkable 30 percent increase, mainly driven by bulk and break-bulk cargoes, which rose by 47 percent. Key commodities contributing to this growth included rice (up by 331 percent), corn (up by 571 percent), soybeans (up by 15 percent), wheat (up by 16 percent), and liquid bulk petroleum products (up by 11 percent).

Yambao added that revenues from SBMA’s share in Cargo Handling Services increased by 22 percent, largely from Amerasia International Terminal Services Inc., Mega Subic Terminal Services Inc., and Subic Bay Freeport Grain Terminal Services Inc.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the port of Subic Bay will be able to exceed 2025’s revenues by the end of this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco