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Online lenders target to bring more Filipinos into formal financial sector

ANASTASIA NELEN–UNSPLASH

ONLINE LENDING companies target to onboard 300,000 additional borrowers monthly next year as the sector wants to help in bringing more Filipinos into the formal financial sector, an industry group said.

Consumer Lending Association of the Philippines, Inc. (CLAP) President and Tala Financing Philippines Inc. External Affairs Director Arianne Ferrer said their member companies want to help reach those individuals that do not have access to financial products and services.

“If there is regulatory stability, consistency, and in general, the amount of support we’re currently getting from the government, we are hoping to reach as much as 300,000 new borrowers every month,” Ms. Ferrer said during a media roundtable on Thursday.

“We would always really give the opportunity to people who do not have financial credit history, who may not have lots of documentation, to have their first financial account.”

CLAP members include some of the biggest online lending platforms in the country that are registered with the Securities and Exchange Commission (SEC).

Ms. Ferrer said CLAP members’ apps have a combined 33 million downloads on Google Play Store and 10 million in Apple Store and Huawei AppGallery.

“CLAP and its members work to break barriers and create new economic opportunities for Filipinos, such as sari-sari store owners and first-time borrowers, by using alternative data and technology to assess credit risk for those with limited or no formal credit history,” the group said in a separate statement on Thursday. “They aim to ensure continued access to credit for the underserved and the unbanked safely and securely.”

The group said it will roll out a nationwide campaign against unethical debt collection practices and predatory lending next year, urging consumers to report these incidents directly to the association.

The SEC earlier said that they received 5,415 complaints of unjust collection practices from online lenders.

“Filipinos deserve protection from abusive practices and affordable access to fair, formal credit,” CLAP said. “With the media as an active partner in consumer education, borrowers can be guided toward safe, sustainable financial choices, and industry efforts to curb fraud can reach the communities that need them most.”

The Bangko Sentral ng Pilipinas (BSP) is targeting to onboard at least 70% of adult Filipinos into the formal financial system. The share of Filipinos with bank accounts reached 65% of the adult population in 2022, BSP data showed. — Katherine K. Chan

H&M announces designer collaboration with Stella McCartney

STOCKHOLM — British fashion designer Stella McCartney will produce a collection in collaboration with H&M, the Swedish budget fashion giant said on Tuesday.

The collection will launch in H&M stores and online in the first half of 2026, it said in a statement.

Stella McCartney and H&M have had one design collaboration previously, launched in 2005.

H&M has had collaborations with several external designers over the past two decades, while Stella McCartney has collaborated with several other high-street brands, including Adidas. — Reuters

Aprio eyeing expansion of Philippine workforce to 750 by 2030

APRIO, a US-based advisory and accounting firm, is targeting an increase in its Philippine workforce to 750 employees by 2030, part of its strategy to support its growing global client base.

“We anticipate that the Philippines as a country will be north of 750 people by 2030, that is our goal,” Dave Kothari, global solutions delivery leader and partner at Aprio, told reporters on the sidelines of the opening of its Makati office on Thursday.

Aprio’s second Philippine branch is located on the fourth floor of KMC One Ayala Mall.

“By investing in our local office, we are not just extending capacity, but we are strengthening collaboration and positioning Aprio to lead the next era of global transformation for our clients,” Mr. Kothari said.

Aprio first established operations in the Philippines in 2022, opening its inaugural office in Clark Global City, Pampanga.

The company currently employs 400 professionals in the country.

Its Philippine teams deliver support across tax, advisory, assurance, wealth management, and business operations, while also focusing on analytics, technology adoption, compliance modernization, and workflow optimization. — Beatriz Marie D. Cruz

How PSEi member stocks performed — December 4, 2025

Here’s a quick glance at how PSEi stocks fared on Thursday, December 4, 2025.


Manila ranks ninth in Prime Global Cities Index in Q3

The Philippine capital’s prime residential prices rose 5.4% year on year in the third quarter of 2025 based on the latest edition of the Prime Global Cities Index by real estate consultancy firm Knight Frank. Manila placed ninth among 46 residential markets, outpacing the 2.5% average annual expansion during the period.

Manila ranks ninth in Prime Global Cities Index in Q3

Foreign rice suppliers warned against raising prices in PHL

REUTERS

THE Department of Agriculture (DA) warned foreign rice suppliers that a strong domestic harvest could upset any plans they may have of raising prices when shipments to the Philippines resume early next year.

The DA said in a statement that it expects scaled-down demand for imported rice early next year after new production assessments pointed to a harvest that will still approach 2023 records, even after the impact of late-year calamities.

In the statement, Agriculture Secretary Francisco P. Tiu Laurel, Jr. said foreign suppliers should not take advantage of the Philippines’ return to the global rice market, noting that some suppliers appear to be expecting renewed large-volume purchases after a temporary import ban expires.

Mr. Laurel was quoted as saying that the government will not allow foreign suppliers to exploit the country’s food-security mechanisms. He urged importers to diversify their sourcing to ensure more stable and predictable supply arrangements.

“While we value our partnerships with traditional suppliers, food security is paramount, and diversifying our sources is vital,” Mr. Laurel said.

The DA is projecting import volumes for the first quarter of 2026 to be “substantially lower” than previous estimates, following positive assessments of the 2025 crop.

It now expects 2025 output of palay (unmilled rice) at 19.61 to 19.89 million metric tons (MMT), near the 2023 record of 20.06 MMT. This is also higher than the 19.09 MMT reported by the Philippine Statistics Authority in 2024.

The DA said the revised range is slightly lower than the previous target of 20.46 MMT after downgrades to fourth-quarter estimates. However, according to the DA, updated field validation shows that domestic production suffered smaller-than-expected setbacks even after several typhoons traversed key rice-growing areas.

Mr. Laurel cited improved farm preparedness, better disaster-response coordination, and the timing of storms that did not hit during critical phases of the growing period.

The DA said it is preparing an adjusted import matrix to guide private traders once the country lifts its moratorium on rice imports in January.

The DA said the framework will be calibrated to safeguard farmgate prices and prevent predatory import practices as the country reenters the international market. — Vonn Andrei E. Villamiel

Economic impact of typhoons seen as ‘small, temporary’

DOST-PAGASA

NATURAL DISASTERS such as typhoons that bring flooding and landslides pose minimal and temporary risks to the Philippines’ economic growth, Capital Economics said.

Senior Asia economist Gareth Leather cited the example of 2013’s Typhoon Haiyan, known in the Philippines as Yolanda, which killed 10,000 people but had a limited impact on economic growth.

“The floods that struck (this year) amid a corruption scandal centered on flood control projects, which could amplify public frustration and prompt a stronger government response,” Mr. Leather said in a note dated Dec. 3.

“Overall, however, while supply chains and manufacturing may face some disruption, the hit to activity is likely to be small and temporary,” he added.

Economy Secretary Arsenio M. Balisacan has said that the recent slowdown in household spending may be attributed to widespread cancellations of school, work, and travel activities due to the typhoons.

In the third quarter, growth in household final consumption expenditure, which accounts for over 70% of the economy, slowed to 4.1% from 5.3% a quarter earlier and 5.2% a year earlier.

This was the weakest reading since the 4.8% contraction in the first quarter of 2021.

Mr. Leather said typhoons mostly impact the agriculture sector, often causing food prices to spike.

In November, Typhoons Kalmaegi (Tino), Fung-Wong (Uwan), and Koto (Verbena) brought heavy rains and flooding across the country.

Agricultural damage from Kalmaegi and Fung-Wong topped P4.13 billion, while Verbena left P57.53 million worth of farm damage, the Department of Agriculture (DA) reported.

“This creates an upside risk to our inflation forecasts. The good news is that inflation is starting from a very low base — it is at or below target across most of the region,” Mr. Leather said.

In October, headline inflation settled at 1.7%, the eighth straight month that inflation came in below the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target band. Ten-month inflation averaged 1.7%.  

A BusinessWorld poll of 15 analysts yielded a median estimate of 1.6% for November inflation, slowing from 1.7% in October and 2.5% a year earlier.

Mr. Leather said the central bank thus has room to ease policy rates further.

BSP Governor Eli M. Remolona, Jr. said on Wednesday that the likelihood for another interest rate cut this month has increased, partly due to expectations that the economy will grow 4-5% this year, missing the 5.5-6.5% government target band.

The central bank has so far lowered borrowing costs by a total of 175 bps since it began its easing cycle in August 2024, bringing the benchmark interest rate to 4.75%.

The Monetary Board will convene for its last policy meeting of the year on Dec. 11. — Katherine K. Chan

Farm extension services need 20,000 more agriculturists — DA

ATI2.DA.GOV.PH

By Vonn Andrei E. Villamiel

THE Department of Agriculture (DA) said it needs around 20,000 more agriculturists to adequately staff its extension system and improve support for farmers.

The DA released its assessment after the Professional Regulation Commission announced the results of the November Agriculturists Licensure Examination, which 6,678 passed out of an examinee pool of 9,742.

Agriculture Secretary Francisco P. Tiu Laurel, Jr. said the ideal ratio is one agriculturist for every 25 to 50 hectares of farmland.

Mr. Laurel said the DA is working with the Commission on Higher Education to align agriculture-related curricula with industry demand and ensure sufficient graduate output.

He added that agriculture programs in state universities and colleges should be reinstated, along with veterinary courses to support the newly signed Animal Industry Act.

“Once we have extension workers on the ground, our information will be real-time and more accurate, with the Philippine Statistics Authority (PSA) mainly validating collected data,” Mr. Laurel said.

He said a more robust extension workforce would improve feedback on field conditions, including delays in the distribution of seed and fertilizer and the monitoring of palay (unmilled rice) prices.

Mr. Laurel added that proper compensation and strong support from the administration could draw more licensed professionals to government service.

“Field work is very attractive, especially if you’re paid well and properly, helping our farmers and fisherfolk,” he said.

Under Republic Act No. 12215, or the Philippine Agriculturists Act of 2025, the minimum base pay of registered agriculturists working in the National Government may not fall below Salary Grade 13 or P34,421 per month, based on the latest salary scheme.

Local government units are also encouraged under the law to bump up the salary grade of their agriculturists, consistent with the Local Government Code and their respective financial capacity.

Agricultural workers’ share of the workforce continued to contract in 2025 as climate-related disruptions and persistent productivity challenges pushed more rural workers into the services sector, the Philippine Institute for Development Studies (PIDS) said.

In a report issued on Wednesday, the government think tank said agricultural employment fell by about 10% between 2023 and 2024. The industry’s share of total employment dropped to 18.2% in 2024 from 20.2% in 2023.

PIDS said in early 2025, the share of agricultural workers further dipped to a record low of 17.6%, equivalent to 9.9 million workers. This represents a sustained drop from around a 37% share of total employment two decades ago, according to the International Labour Organization.

PIDS reported that climate events, including typhoons and El Niño-driven drought, have disrupted rural livelihoods, accelerating the displacement of workers into informal service and construction jobs in urban and peri-urban areas.

The PIDS report also cited limited mechanization and insufficient extension services, which continue to weaken agriculture’s capacity to retain its workforce.

“The erosion of agricultural employment poses a long-term risk to food security, rural incomes, and inclusive growth, especially if not matched by productivity-enhancing interventions,” PIDS said.

PIDS said that while the services sector absorbed agricultural workers, many of the jobs gained were informal and low-value.

“The continuing decline of agricultural employment, without a commensurate rise in high-productivity industry jobs, suggests a risk of premature de-industrialization, where labor shifts to low-value services rather than high-value manufacturing,” it said.

Asked to comment, IBON Foundation Executive Director Jose Enrique A. Africa said the contraction in the share of agricultural workers “should be a major cause for concern.”

“The shift isn’t driven by productivity gains in agriculture and abundant affordable food but by climate shocks and the lack of productive investment. Agricultural workers are just making the rational choice to leave the low earnings from informal, low-value and precarious rural work,” Mr. Africa said.

He added that without genuine government action, rural impoverishment and food insecurity will worsen even as headline gross domestic product grows.

To address the contraction in agricultural workers, PIDS said agricultural productivity and infrastructure should be boosted.

“Addressing these imbalances will require targeted sectoral strategies, including enhancing rural and agri-business productivity through mechanization, climate-resilient infrastructure, and digital agriculture,” it said.

Mr. Africa concurred, saying: “A proactive response would be serious about completing free land distribution, raising farm productivity with public investment in small-scale irrigation and post-harvest facilities, more extensive agricultural research and extension services, and protecting from cheap subsidized imports,” he said.

ADB, WB to jointly support 20 projects across region

The World Bank logo is seen at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, US, April 13, 2023. — REUTERS/ELIZABETH FRANTZ

THE Asian Development Bank (ADB) and the World Bank (WB) will jointly support more than 20 projects in partner countries, with the first two projects to benefit Tonga and Fiji.

The joint Full Mutual Reliance Framework (FMRF) as yet has no confirmed projects for the Philippines, they said in a briefing.

“There are these two projects (for Tonga and Fiji) now but we’ve got 20 more in the pipeline across infrastructure, energy, agribusiness, healthcare and social protection, and most of our clients are very interested in this which means it tells you why it’s worth doing,” World Bank Group President Ajay Bang said in a briefing at ADB Headquarters on Thursday.

The FMRF seeks to streamline processes and reduce duplication between the two banks, which will speed up project implementation and lower transaction costs.

It will allow countries to work with a single lead lender, either the ADB or the World Bank, guiding all aspects of project design, preparation, supervision, and evaluation.

“Our goal is to make development finance simpler, faster, and more effective,” ADB President Masato Kanda said.

“With this approach, we respond to client needs to solve complex challenges together, from disaster resilience to better connectivity, while supporting their long-term vision for prosperity.”

The ADB said the gross domestic product growth will not be a factor in selecting the countries joining the framework.

The first two projects were Fiji’s $236.5-million Pacific Healthy Islands Transformation project, which aims to tackle non-communicable diseases, and the $120-million Sustainable Economic Corridors and Urban Resilience project in Tonga. — Aubrey Rose A. Inosante

Rice farmers expect irrigation delays to be costly

UPRIIS.NIA.GOV

A DECISION by the National Irrigation Administration’s Upper Pampanga River Integrated Irrigation System (UPRIIS) to postpone the release of irrigation water to March 2026 threatens the livelihoods of thousands of rice growers in Nueva Ecija and Tarlac, farmers said.

In a statement on Thursday, the Kilusang Magbubukid ng Pilipinas (KMP) said the delay will affect nearly 40,000 hectares of rice land and about 25,000 farmers, who have seedlings ready for the December 2025 cropping season.

UPRIIS has said that irrigation water distribution will be suspended to allow repairs on the Talavera River Phase 1 siphon barrel, part of the CASECNAN Super Diversion Canal.

The canal supplies water to farms in San Jose City, Science City of Muñoz, Guimba, Rizal, Llanera, Lucban, Talugtog, Cuyapo, and Nampicuan, Nueva Ecija, as well as Victoria, Anao and Ramos, Tarlac.

The affected cities and municipalities are among the top producing areas in the region.

The KMP said the advisory, issued on Nov. 26, came too late, noting farmers had already spent on seed, inputs and land preparation.

The late notice will force farmers to absorb losses from the canceled cropping, the KMP said.

In the statement, KMP Chairman Danilo Ramos called the delay “gross incompetence disguised as rehabilitation,” saying structural issues in the siphon barrel had been observed as early as 2022.

“UPRIIS must provide immediate compensation, seed support, and emergency water access. And most importantly, the repairs must be fast-tracked to allow farmers to salvage the second cropping of palay (unmilled rice),” Mr. Ramos said.

He also urged the agency to provide compensation, seed support, and emergency water access while repairs are underway.

Carling Castro of the Ugnayan Para sa Libreng Patubig at Serbisyo was quoted in a statement as saying the siphon’s deterioration stemmed from incomplete protective works.

He said UPRIIS failed to finish installing gabion structures meant to protect the barrel from erosion.

“If only the UPRIIS completed the installation of gabion along the siphon barrel, the structure would not have weakened,” Ms. Castro said.

The KMP said farmers in affected areas are seeking immediate assistance for alternative crops, fuel subsidies for pump irrigation, and regular updates on the repair timeline. 

The KMP said it will also ask Congress to investigate the delayed repairs and the impact of the irrigation suspension on rice production in the affected provinces. — Vonn Andrei E. Villamiel

Transport dep’t to set up services at Clark airport targeting manufacturers

CLARK INTERNATIONAL AIRPORT

THE Department of Transportation (DoTr) said it signed an agreement with the Bases Conversion and Development Authority (BCDA) to enhance services for Industrial, Manufacturing, Transport (IMT) users of Clark International Airport.

“This will foster market access and opportunities in Central Luzon. But more than anything, there will be new economic activities,” Transportation Acting Secretary Giovanni Z. Lopez said in a statement on Thursday.

The Department of Transportation (DoTr) said the agreement will advance the air transport and logistics services industry.

Mr. Lopez said the agreement is critical for Central Luzon’s aviation and aerospace industries.

“President Ferdinand R. Marcos, Jr. directed the DoTr and BCDA to explore ways to foster market access opportunities and facilitate efficient passenger movement at Clark,” the DoTr said.

“This will bring in more manufacturing activity and more transport enterprises linked to Clark International Airport. It also means a bigger economic contribution from Clark. Our role at BCDA is to make sure the right infrastructure is in place so the airport can expand, and logistics and transport firms can operate here with ease,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.

The agreement was signed by the BCDA, the DoTr and Clark International Airport operator LIPAD Corp.

The partners will explore the feasibility of implementing incentive programs to attract and establish IMT businesses and related services. — Ashley Erika O. Jose

Laguna data center expected to boost cloud, AI investments

AYALALAND.COM

THE Department of Trade and Industry (DTI) said the opening in Laguna of the ML1 Data Center will help service the country’s growing digital demand.

“This is essential for… improving service reliability, and fostering an ecosystem that encourages high-value investments,” the DTI said in a statement on Thursday.

Developed by a FLOW Digital Infrastructure and AyalaLand Logistics Holdings Corp. joint venture, the project is expected to enhance the Philippines’ capacity to support cloud services, artificial intelligence (AI), enterprise digitalization, and other data-driven technologies.

“We welcome the first phase of this modern facility, which begins with six megawatts of information technology load and can expand to 36 megawatts,” Trade Secretary Ma. Cristina A. Roque said.

“This data center strengthens the digital backbone that supports industries, businesses, and communities in Calabarzon,” she added.

The project was approved by the Board of Investments (BoI) Management Committee on Nov. 18 for registration and grant of incentives.

“The BoI recognizes the critical role of data centers in strengthening the nation’s digital infrastructure, and facilities like ML1 provide the foundation needed for innovation-driven industries to succeed,” the BoI said.

BoI Infrastructure and Services Industries Service Director Mary Anne E. Raganit said the project signals the country’s readiness “to compete in an increasingly digital global economy.”

Upon full buildout, the data center will have 36 megawatts of capacity to service cloud providers, technology firms, financial institutions, and enterprises transitioning to digital-first operations. — Justine Irish D. Tabile