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Funding for vetoed RACE program still under discussion — Trade department

January 28, 2026

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Business World Philippines

THE Department of Trade and Industry (DTD said it is still in discussions for funding a vetoed incentive program known as Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE).

“We're hoping for that, definitely. But I can’t really say when, we need to finish the discussion first,” Trade Secretary Ma. Cristina A. Roque told reporters on the sidelines of an event on Tuesday, when asked about the timetable for locking down the funding.

المزيد من القصص من Business World Philippines

Business World Philippines

Philippine Coast Guard eyes bigger role in South China Sea military drills

THE Philippine Coast Guard is looking to expand its involvement in future US-Philippine naval exercises near the South China Sea, underscoring its intent to be more integrated into joint maritime operations, Manila’s armed forces said on Tuesday.

time to read

2 mins

January 28, 2026

Business World Philippines

SEC sets stricter 9-year limit for independent directors

THE SECURITIES and Exchange Commission (SEC) is imposing a maximum cumulative nine-year term limit for independent directors of publicly listed companies starting in February, a move that will boost board independence, analysts said.

time to read

1 mins

January 28, 2026

Business World Philippines

Infant formula recall hits Danone, Nestlé shares

Shares in Danone slumped on Monday as French company Vitagermine widened a recall of baby formula on concerns over contamination, affecting four manufacturers so far and threatening combined losses exceeding $1 billion.

time to read

1 mins

January 28, 2026

Business World Philippines

Car sales may reach 503,000 in 2026, says CAMPI

CAR SALES are expected to breach 500,000 this year, driven by rising demand for electrified vehicles (EVs) and multipurpose vans, according to the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).

time to read

1 min

January 28, 2026

Business World Philippines

Ye apologizes for antisemitic remarks, says he was treated for bipolar disorder

American rapper and record producer Ye, formerly known as Kanye West, took out a full-page advertisement in the Wall Street Journal on Monday to apologize for antisemitic remarks that drew years of backlash.

time to read

2 mins

January 28, 2026

Business World Philippines

Anta Sports gets 29% Puma stake for $1.8B

CHINA’S ANTA SPORTS Products said on Tuesday it would buy a 29.06% stake in Puma from the Pinault family for €1.5 billion ($1.8 billion), making it the biggest shareholder in the German sportswear maker.

time to read

2 mins

January 28, 2026

Business World Philippines

Business World Philippines

Pacesetting SMB targets pivotal Game 4 of Philippine Cup finals

SAN Miguel Beermen (SMB) are poised to move on the doorstep of the coveted crown jewel.

time to read

2 mins

January 28, 2026

Business World Philippines

Isuzu Philippines remains top truck brand with 42.2% market share

ISUZU PHILIPPINES CORP. said it achieved 42.2% market share in truck sales last year after selling 4,794 units.

time to read

1 min

January 28, 2026

Business World Philippines

P1.19-T National Tax Allotment released to local governments

THE National Tax Allotment (NTA) of P1.19 trillion has been released to local government units (LGUs), the Department of Budget and Management (DBM) said.

time to read

1 min

January 28, 2026

Business World Philippines

Hog, poultry production up in Q4; cattle down

LIVESTOCK production was mixed in the fourth quarter of 2025, with hog, chicken, and chicken egg output growing on a seasonally adjusted basis and cattle production declining, the Philippine Statistics Authority (PSA) said.

time to read

1 min

January 28, 2026

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