Toyota expects EVs, hybrids to make up 20% of PHL sales

March 24, 2026 | 8:57 pm

TOYOTA MOTOR Philippines Corp. (TMP) said it expects electric vehicles (EVs), which include hybrids, to account for 20% of its sales this year.

“About 20% of our volume is electrified,” TMP Chairman Alfred V. Ty told reporters on the sidelines of a Stratbase Institute conference on Tuesday.

“Electrified to us is full-electric and hybrid, and that continues to multiply,” he said. “Even before the war, there were plans for models to come in,” he said, on the assumption that the rollout is not disrupted.

In 2025, TMP recorded a 38.83% increase in EV sales to 19,516 units. This includes 17,825 Toyota EVs and 1,691 Lexus EVs.

“We’re really moving towards electrification, but of course, you have your diesel models, especially for the provinces, so that’s why… we’re making sure that we have all the different technologies for everybody,” Mr. Ty said.

TMP, automotive unit of GT Capital Holdings, Inc. reported a 49.33% market share, despite a 6.3% decline in sales to 34,300 units at the end of February.

GT Capital said it is looking to revisit its capital expenditures this year amid the impact of rising oil prices caused by the escalating conflict in the Middle East.

“We haven’t finalized, of course, but I guess everything’s on the table for discussion,” Mr. Ty, who is also the vice-chairman of GT Capital, said.

GT Capital is involved in the automotive, banking, property development, infrastructure, utilities, life and non-life insurance, and motorcycle financing industries.

Meanwhile, Mr. Ty also cited the need to update the Japan–Philippines Economic Partnership Agreement (JPEPA) to include incentives for EV makers.

“The automotive incentives written in the JPEPA…only considered big engines, wala pa ‘yung mga small engines, wala pang electrification (it did not consider small engines or electrification)” he said.”

JPEPA, the Philippines’ first bilateral free trade agreement, came into force in 2008.

It covers trade goods, rules of origin, customs procedures, investment, movement of natural persons, intellectual property, and government procurement. — Beatriz Marie D. Cruz

Bicol regional minimum wage set at P480 per day

March 24, 2026 | 8:57 pm

THE WAGE BOARD of the Bicol Region has approved an increase for private sector workers in the region to bring the daily minimum wage to P480 from P435.

Wage Order No. RBV-23, published on March 23 by the Regional Tripartite Wages and Productivity Board V, ordered a daily basic wage increase of P45 to be released in two tranches.

The first tranche is a P20 increase, raising the daily rate to P455 upon effectivity on April 8. A second tranche of P25 will take effect on Dec. 1, bringing the minimum wage to P480 for all types of private-sector industries and businesses.

This adjustment covers workers in Albay, Camarines Norte, Camarines Sur, Catanduanes, Masbate, and Sorsogon.

In determining the new rates, the wage board said it conducted a series of consultations and public hearings across Bicol in January and February to evaluate regional socio-economic conditions.

The board found that the average inflation rate within the region was 1.5% between April 2025 and January 2026, while the regional real minimum wage was recorded at P318 as of January.

It added that the 2023 poverty threshold for a family of five in the region was P460 as of early 2026, and that Bicol’s gross regional domestic product grew 4.9% during the 2023-2024 period. — Erika Mae P. Sinaking

Philippines commits to implement semiconductor industry roadmap

March 24, 2026 | 8:56 pm

Semiconductor chips-electronics — Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken on Feb. 25, 2022. — REUTERS

THE government pledged to fast-track reforms and investments to scale up its semiconductor and electronics industry (S and E), recognizing the sector’s role in economic growth.

Executive Secretary Ralph G. Recto said Malacañang will “fully and forcefully” implement commitments under the industry’s roadmap, underscoring the sector’s role as a cornerstone of export growth and employment.

“The government must maximize the S and E industry, because this industry can maximize the country,” he said during the meeting of the Semiconductor and Electronics Industry Advisory Council (SEIAC) in Malacañang on March 23.

The industry generates about P3 trillion annually, accounts for nearly three-fifths of export revenue and supports roughly 3 million jobs directly and indirectly.

Mr. Recto expects SEIAC to act as a central platform for resolving bottlenecks rather than merely coordinating dialogue.

He said that the council must function as a “problem-solving” body, with reforms tied to concrete deliverables and deadlines.

The government is backing industry efforts to expand into higher-value activities such as integrated circuit design and advanced packaging — segments seen as more attainable given current capabilities.

The roadmap of the Philippine Semiconductor and Electronics Industries in the Philippines Foundation, Inc. targets the establishment of wafer fabrication facilities, a capital-intensive leap that would mark a significant upgrade in domestic manufacturing capacity.

Central to that plan is the proposed creation of up to three national laboratories, envisioned as hubs for research collaboration among academia, industry and government.

These facilities would anchor innovation, workforce development and technology transfer, helping address longstanding gaps in research and development. — Chloe Mari A. Hufana

Rice imports beat DA forecast by topping 1 million MT at mid-March

March 24, 2026 | 8:56 pm

RICE IMPORTS amounted to 1.01 million metric tons (MT) as of March 19, up 10.44% from the actual first quarter total in 2025, the Bureau of Plant Industry (BPI) said.

The year-to-date volume exceeded the Department of Agriculture’s (DA) projection of about 750,000 MT for the full first quarter.

The DA earlier said traders and importers agreed to keep shipments to around 300,000 MT per month in January and February and 150,000 MT per month during the peak of the harvest in March and April.

The BPI said inbound shipments as of March 19 are equivalent to 79.74% of the 1.27 million MT expected volume based on approved import clearances.

Regular rice accounted for the bulk of imports at 980,896 MT or 96.77% of the total, while special rice amounted to 32,758 MT or 3.23%.

Of the landed shipments, 85.97% originated in Vietnam, 7.63% Thailand, 4.48% Myanmar, and 1.61% Cambodia.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. earlier told BusinessWorld that the Philippines continues to have access to adequate rice supplies from overseas markets, despite a projected global food supply crunch due to the Middle East war.

He said supply remains sufficient in major suppliers such as Vietnam, India, and Myanmar, but added that freight costs will be the main component affecting the price paid by consumers. — Vonn Andrei E. Villamiel

Port regulator plans RoRo terminal fee cut for farm goods

March 24, 2026 | 8:56 pm

TRANSPORTATION Secretary Giovanni Z. Lopez said the Philippine Ports Authority (PPA) has proposed a reduction to P1 in the roll-on/roll-off (RoRo) terminal fee for class 3 and class 4 vehicles carrying raw and unprocessed agricultural products, from the current P258 and P516, respectively.

“The maritime sector, and PPA-operated ports have agreed that we need to provide discounts. One recommendation is to give a discount for RoRo terminal fees,” he said.

This proposal is set to take effect on April 15, once approved, and will remain in force for six months, Mr. Lopez said.

“The decreased RoRo terminal fee will help lower the operating costs of owners or drivers of vehicles with agricultural products,” Mr. Lopez said.

The PPA and the Maritime Industry Authority (MARINA) and the Department of Transportation (DoTr) will explore measures to ease the impact of rising fuel costs on shipping lines.

“Any mode of transport feels the pain of the rising fuel costs. We are exploring solutions, together with MARINA and the DoTr to help (shipping lines),” PPA Assistant General Manager Mark John S. Palomar said at a briefing on Tuesday.

Earlier this month, MARINA authorized ship operators to collect a fuel surcharge of up to 20% of base fares, citing the needs to promote the efficient use of fuel.

It also allowed shipping companies to adjust their operations by consolidating or reducing trips to optimize vessel use in the interest of cutting fuel consumption, subject to MARINA approval.

Several regional shipping lines have also raised passenger and cargo 25% fol-low-ing a surge in fuel costs triggered by the clos-ure of the Strait of Hor-muz, which pushed global oil prices above $100 per bar-rel.

Mr. Palomar said it is too early to tell if the ongoing Middle East war will have an impact on passenger volume during the Easter travel season.

“It is possible. People might be deterred because of rising fuel costs, but you know, travel plans are set way ahead so people might just go through with their travel,” he said when asked about the possibility of lower passenger traffic.

The PPA also launched an Online Reservation Assistance System to reduce “uncertainty regarding the schedule of vessels,” Mr. Palomar said, thereby easing terminal congestion.

He said the system will be launched at two terminals by Thursday, covering voyages to and from Lucena and Batangas. — Ashley Erika O. Jose

Agri lending system migrating to digital

March 24, 2026 | 8:55 pm

Rice-farmer — PHILIPPINE STAR/MICHAEL VARCAS

THE Department of Agriculture (DA) said it is digitizing its lending system for farmers, fisherfolk, and rural enterprises.

In a statement on Tuesday, the DA said the digital push, led by the Agricultural Credit Policy Council (ACPC), will introduce the Credit Fund Line facility to speed up the release of funds and the Agri-Credit E-Portal 2.0, which digitizes loan processes.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. said the DA is simplifying loan requirements to address delays caused by documentary requirements.

“By simplifying loan requirements and expanding access to affordable financing, we enable farmers and fishers to invest in production, raise their incomes, and help stabilize the food supply,” he was quoted as saying in the statement.

Mr. Laurel said the migration to digital addresses farmer complaints about delays in loan approval stemming from burdensome documentary requirements.

The DA said the Credit Fund Line program will accelerate the transfer of loan proceeds to partner lenders such as rural banks, cooperative banks, and non-government organizations.

Meanwhile, the Agri-Credit E-Portal 2.0 integrates the government’s Registry System for Basic Sectors in Agriculture and the DA’s intervention monitoring database, allowing for faster verification of applicants.

The DA said the ACPC has earmarked P3 billion for lending in 2026, covering programs such as AgriNegosyo, Kapital Access for Young Agripreneurs, and Survival and Recovery, along with Agrisenso Plus and Agri-Puhunan at Pantawid. — Vonn Andrei E. Villamiel

Energy dep’t considering discarding Dubai benchmark

March 24, 2026 | 8:54 pm

THE Department of Energy (DoE) said on Tuesday that it will propose to Congress the abandonment of the Dubai crude benchmark as a trigger for various policy responses, saying the benchmarks might no longer adequately reflect market realities.

Energy Undersecretary Alessandro O. Sales told a Senate hearing the DoE is drafting a policy note that would change the reference from Dubai to the Mean of Platts Singapore (MOPS), which is an average price of refined petroleum products such as diesel, gasoline and kerosene.

“The DoE is devising a proposal to change our trigger because the current trigger is not appropriate for the movement of fuel prices in times of crisis,” Mr. Sales said during the Senate’s Proactive Response and Oversight for Timely and Effective Crisis Strategy ad hoc committee hearing.

Mr. Sales explained the price difference between Dubai Crude and Diesel have widened from $15 to $20 per barrel to approximately $60, thus necessitating a change in trigger from Dubai Platts to MOPS.

The Dubai price is the default benchmark for crude shipped to Asia, and is often subject to volatility during periods of disruption in the Persian Gulf.

MOPS reflects the landed price of crude in Singapore as well as the cost to process it into petroleum products. Singapore refiners then supply the inventory of fuel retailers in the Philippines that do not operate refineries.

Senator Sherwin T. Gatchalian pointed out in the hearing that the trigger event — currently $80 per barrel of Dubai crude — could set in motion Philippine government measures like the suspension of excise taxes and the release of the Pantawid Pasada fuel subsidy program of the Department of Transportation.

Mr. Gatchalian concurred that the DoE needs a different trigger.

The $80 per barrel level was surpassed on March 13 when it hit $89.02 per barrel according to the DoE.

Energy Secretary Sharon S. Garin, in the same hearing, said the DoE has so far obtained three to four days’ worth of oil supply in addition to the current stockpile, which is good until the end of April.

“I don’t think (running out of supply) will happen, but the worst case scenario is the price will be really high. We need to be willing to pay that,” Ms. Garin said.

Ms. Garin said the DoE has P20 billion in funding from the Department of Budget and Management to build up fuel reserves, and can tap P15 billion in unused Philippine National Oil Co. It is also seeking a P10-billion credit line from the Land Bank of the Philippines. — Kaela Patricia B. Gabriel

DoF cites key role played by Japan ODA, investors

March 24, 2026 | 8:52 pm

JAPAN continues to be the biggest source of official development assistance (ODA) as of the end of 2025, the Department of Finance (DoF) said.

“As of December 2025 Japan is our largest source of ODA,” Finance Secretary Frederick D. Go said in a video message at a Stratbase Institute conference on Tuesday. “Japanese companies have played a key role in strengthening industries, creating jobs, and supporting sustained economic growth.”

“Their investments have enabled a wide range of sectors, from manufacturing and energy to digital technology and infrastructure. These initiatives have not only generated employment but also helped Filipino businesses grow and innovate,” he added.

He also cited Japan’s support in knowledge transfer, workforce development, and modern transport systems, which help improve connectivity and enhance the competitiveness of the Philippines.

“Roads, railways, ports, and other infrastructure projects have increased productivity and opened new opportunities for trade and investment, (while) skills training and technological partnerships have empowered our workforce together,” he said.

“These efforts demonstrate a partnership that delivers tangible benefits to our people. They strengthen the Philippines’ development priorities and build a shared future of growth,” he added.

Moving forward, he said the government remains fully committed to further strengthening the strategic partnership with Japan.

“We celebrate our shared achievements and look forward to building even stronger collaboration in the years ahead,” he added.

Japanese Ambassador to the Philippines Kazuya Endo said: “Our cooperation has covered a wide range of areas — from major infrastructure projects such as urban railways, roads, and bridges to disaster risk reduction, maritime cooperation, technical assistance, support for the Mindanao peace process, and grassroots-level development initiatives.”

He also cited the contribution of Japanese companies to the bilateral partnership.

“Today, approximately 1,600 Japanese companies operate in the country, making Japan one of the Philippines’ most important trade and investment partners,” he said.

He also expressed support for the Association of Southeast Asian Nations (ASEAN) chairmanship this year, particularly in “strengthening ASEAN centrality and unity and advancing regional cooperation.” — Justine Irish D. Tabile

EU ambassador says all signs pointing to FTA deal this year

March 24, 2026 | 8:51 pm

THE OUTBREAK of fighting in the Middle East highlights the urgency of nailing down a Philippines-European Union (EU) free trade agreement (FTA) this year, the EU Ambassador to the Philippines said.

Massimo Santoro, the EU ambassador, said that he hopes for the negotiations to be concluded this year, though he offered no guesses as to the exact timing.

“In particular, when we observe what’s happening around the world, I think that I cannot but confirm that the reduction, or bringing to zero, of the tariffs in our trade relationship cannot but help both the EU and the Philippines,” he said.

“I am very confident that it is the right year. I am not going to commit to a specific month. I am really hopeful that it is this year. Let’s say that all ingredients so far are pointing in the direction for this year,” he added.

Trade Secretary Ma. Cristina A. Roque has said that she is hopeful the negotiations could conclude by June or July.

“We wish to keep the two teams as strongly motivated as they are. And again, if it happens this year, if it happens even during the so-called “tag-init” (dry season), I could not but be happy and very much supportive of that,” Mr. Santoro said.

He said that the latest round of negotiations between the Philippines and the EU earlier this month, was “fruitful.”

“The next round is now foreseen for mid-May, and I am pretty confident that the next round will be a fruitful one,” he said.

“Both the Philippine and the EU teams are doing an amazing job. It is a great synchronization of targets and efforts,” he added.

Meanwhile, he said that the Philippine utilization rate in the EU’s Generalized Scheme of Preferences Plus (GSP+) grew in 2025, higher than the 80% recorded in 2024.

“It was a particularly good one. It is a super high utilization rate … higher than in previous years,” he said.

“I hope it can go even higher. Many variables are there we will be able to quantify only at the beginning of next year,” he added.

The GSP+ scheme allows between 6,000 and 7,000 Philippine goods to enter the EU tariff-free until 2027.

“It is ending in 2027, so this is why I was mentioning that I am very much hopeful that this is the right year for the FTA,” he said, noting that the ideal scenario would be to move from the GSP+ system to an FTA, as it would drastically expand the number of goods and services that the Philippines could bring to Europe tariff-free.

Meanwhile, he said that the war in the Middle East has so far not “created any challenge to the bilateral relationship” between the EU and the Philippines.

“I would even dare to say that somehow, from the political and diplomatic point of view, they even contribute to reinforcing the bilateral relationship because two strongly like-minded partners, like the EU and the Philippines, cannot but work together in order to address common challenges, including this one,” he added. — Justine Irish D. Tabile

Unbeaten DLSU eyes repeat win vs UST Golden Tigresses

March 24, 2026 | 7:10 pm

Games on Wednesday
(Smart Araneta Coliseum)
9 a.m. – UST vs DLSU (Men)
11 a.m. – AdU vs Ateneo (Men)
1 p.m. – UST vs DLSU (Women)
3 p.m. – AdU vs Ateneo (Women)

UNSCATHED De La Salle University (DLSU) spikes for a repeat win against University of Santo Tomas (UST) to widen the gap from everybody else in the UAAP Season 88 women’s volleyball on Wednesday at the Smart Araneta Coliseum.

Still perfect in eight matches, the DLSU Lady Spikers want no let-up at 1 p.m. to beef up their drive to either an outright finals berth or a still pretty twice-to-beat incentive in the semifinals while teams below team scramble for life in the thick of the race.

Among those are the UST Golden Tigresses (5-3), out to claim a piece of the coveted second seed currently shared by the back-to-back reigning champion National University (6-3) and Far Eastern University (6-3).

At 3 p.m., the fifth-running Adamson University (4-4) seeks the same mission of not being left out from the bumper-to-bumper race against the lowly Ateneo de Manila University (1-7).

La Salle comes into battle with a 25-14, 25-15, 26-24 win over Santo Tomas in the first round on top of another strong challenge from Adamson last weekend, 25-19, 17-25, 25-23, 25-23.

And the Lady Spikers brace for a tougher resistance from the Golden Tigresses this time around, especially with MVP race leader Angge Poyos leading the way.

In the men’s division, streaking La Salle (4-4) wants a share of third spot with Santo Tomas (5-3) at 9 a.m. while Ateneo (4-4) against Adamson (2-6) at 11 a.m. — John Bryan Ulanday

Eala fails to solve the Czech puzzle for the 13^th time

March 24, 2026 | 7:09 pm

THE ROAD is not stopping in Miami for the Filipina tennis queen after being “Czech-ed” mate anew.

For the 13^th time in as many matches, Alexandra “Alex” Eala failed to solve the Czech puzzle and thus spiraled down in the world rankings after a Last 16 finish in her Miami Open return at the Hard Rock Stadium.

From No. 29, Ms. Eala slid to No. 45 in the Women’s Tennis Association (WTA) live rankings with a 270-point deduction after regaining only 120 points in three rounds from a total of 390 points she lost at the start of the tourney. The 20-year-old ace had a first-round bye as the No. 31 seed before beating Laura Siegemund and Magda Linette in Rounds 2 and 3, respectively.

The WTA is yet to officially update the rankings this week but movements are still expected in front or behind Ms. Eala in the live tracker depending on the results of other players’ campaigns in the 1000-level tour.

As steep as the plunge though after falling to another Czech trap in world No. 14 Karolina Muchova in the Round of 16 via a methodical 6-0, 6-2 clinic in only 60 minutes, Ms. Eala still sees the bigger picture.

“I’m in a position where this tournament is not all or nothing. You know what I mean? Not everything’s on the line. But in regard to how I approach expectations and external noise, it’s that I know my truth,” said Ms. Eala on the WTA website, looking forward to the clay season starting with the Linz Open in Austria next month.

Before Ms. Muchova, Ms. Eala also lost 12 prior matches against Czech players: Anastasia Zarycka (2020 ITF Spain, 6-2, 6-4), Gabriela Knutson (2023 ITF France, 2-6, 6-3, 6-1), Tereza Martincova (2024 ITF Slovakia, 3-6, 6-4, 7-6), Katerina Siniakova (2024 Wuhan Open, 6-3, 6-1), Marie Bouzkova (2024 Jiangxi Open, 7-5, 7-6, and 2024 Guadalajara Open, 6-2, 6-2), Linda Fruhvirtova (2025 Birmingham Classic, 7-5, 6-7, 6-1), Barbora Krejcikova (2025 Wimbledon, 3-6, 6-2, 6-1) and Marketa Vondrousova (2025 National Bank Open, 3-6, 6-1, 6-2).

This year, she bowed to Tereza Valentova anew, 7-6, 6-1, in the Qatar Open after a previous 6-1, 6-2 defeat in the 2025 Japan Women’s Open before losing to Linda Noskova in the Last 16 of the Indian Wells Open, 6-2, 6-0, last week and Ms. Muchova on Monday night.

Ms. Eala marched into the Miami Gardens with lofty goals of replicating her final four finish last year but was also aware of a taller order this time around, having been seeded 31^st as a marked woman in the main draw compared to being an unknown wildcard last year.

Then only at No. 140 in the qualifying rounds, Ms. Eala braved on and scored seven straight wins to get in the final four that came with a whopping 390-point prize, which catapulted her to Top 100 for the first time.

Ms. Eala used that magical run, including wins against a bevy of Grand Slam champions and Top 20 players to become the first Filipina WTA semifinalist in history, to later on crack the Top 50, Top 40 and Top 30.

But those points expired the moment she played her first game back in Miami this week, falling just two wins shy of a coveted semis bid just in order to defend the said ranking points and stay inside the Top 30.

As big as her achievements were at a young age, Ms. Eala said she’s still learning the ropes and part of it was winning and losing against the world’s tennis titans albeit she happened to meet a Czech curse just when she’s about to crack the Top 20.

“You could argue that everything I do is to prepare myself for those players. I do a lot, but I do it to prepare for all different types of players,” Ms. Eala beamed.

“We are in an era of strong-hitting players. I’m in the process of still getting stronger. Still being more powerful. But I think I have different, other strengths as well, not just power. I have different layers to my game.”

In the end, Ms. Eala — regardless if she’s back to Top 40-50 rankings or on the horizon of the world’s Top 20 — remains grateful of what she has achieved and will achieve down the road way beyond the tennis courts.

For the pride of the Philippines who has become the world tennis rockstar today with jam-packed venues in every city, the journey has just got started as she revs for a string of 500 and 1000-level tours on top of three more Grand Slam campaigns (Roland Garros, Wimbledon and US Open) this season.

“I think the fact that I recognized that I’m also blessed to be living my life, I definitely earned it and put in the work. That’s not to be questioned but then again, I think it’s so important to be grateful for what you have,” she emphasized.

“I’ve witnessed poverty in my surroundings and I don’t take for granted anything, especially my family and my team and just the opportunities I’m able to have so that’s why I make it a point to always be grateful.” — John Bryan Ulanday

Terrafirma battles tough Phoenix in Commissioner’s Cup

March 24, 2026 | 7:07 pm

Games on Wednesday
(Ynares Center-Antipolo)
5:15 p.m. – Terrafirma vs Phoenix
7:30 p.m. – San Miguel vs Converge

THINGS are looking quite differently early in the PBA Season 50 Commissioner’s Cup.

Terrafirma, usually lurking in the cellar, is enjoying a roaring start, sitting alone at the summit. And San Miguel Beermen (SMB), the powerhouse, is reeling from a fumbling opening, bowing to erstwhile winless Titan Ultra.

On Wednesday, when the two squads hit the court against separate opponents for Week 3 of the mid-season conference at the Ynares Center-Antipolo, they carry contrasting objectives.

Unbeaten in three matches, Terrafirma Dyip seek to keep the surprising trend going as they battle Phoenix (2-1) while the San Miguel Beermen, a bust in their 112-119 setback to the Titan Ultra Giant Risers, aim to get on the board against Converge (1-2), a high-powered crew on a two-game slide itself.

For Terrafirma coach Ronald Tubid, the main concern is how to keep the Mubashar Ali-led squad running at an ideal pace in terms of peaking.

For SMB mentor Leo Austria, the challenge is to make a quick pivot and get going early in the campaign. — Olmin Leyba