Macro Movements: Fitch Revises PH Outlook; BSP Delivers First Rate Hike in 2 Years
Fitch Affirms Philippines’ BBB Rating; Outlook Revised to Negative BSP Raises Policy Rate by 25 bps; First Hike in Two Years
Industry Insight: PH Government Releases 13th FINL; PH & US launches 4,000 Acre Economic Security Zone
Philippine Government Releases 13th Foreign Investment Negative List (FINL) US and Philippines Launch 4,000-Acre Strategic Economic Zone (SEZ)
Deals Spotlight: Salmon Raises $100M; SG Firm Eyes 250 MW Solar Plant
Salmon Group Raises $100 Million to Scale Digital Banking Platform in the Philippines Singapore Firm Eyes 250 MW Solar Project in Bataan
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Macro Movements: Peso weakens as oil shock pressures inflation outlook
Peso hits record low as Middle East tensions drive oil surge BSP easing cycle pauses as inflation risks rise
Industry Insights: Policy support and capital flows strengthen investment outlook
The Department of Energy (DOE) accelerates renewable rollout amid energy supply risks World Bank approves $800M loan to support fiscal resilience and investment
Deals Spotlight: Energy investments scale across grid and off-grid systems
Meralco PowerGen Corporation (MGEN) begins rollout of Terra Solar project Maharlika Consortium begins ₱2.1B off-grid power rollout
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Macro Movements: Growth Outlook Dims; BSP Cuts Rates for Sixth Consecutive Meeting
Philippine 2026 GDP growth seen slowing further to 4.2%, below government target BSP delivers sixth straight 25-bp rate cut, bringing benchmark to a three-year low of 4.25%
Region In Focus: Oil Prices Spike on US-Israel Attacks on Iran; Philippines Seeks ADB Backstop for NSCR
US and Israel strike Iran, closing the Strait of Hormuz and threatening Philippine pump price hikes. Philippines seeks USD 800 mn ADB credit guarantee to secure NSCR operator payments.
Investment Insights: SEC Adopts Tiered IPO Float Framework; Globe’s Kickstart Hikes Investment in Eezee
SEC lowers minimum public float for large listing to 15%, with discretionary floor of 12% for mega-caps. Eezee raises oversubscribed USD 5 mn pre-Series B, with Globe’s Kickstart Ventures doubling down.
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Macro Movements: Slower GDP growth in 2025 shapes policy and currency outlook for 2026
Philippines posts 4.4% GDP growth in 2025, missing the government’s 5.5-6.5% target BSP signals openness to further easing as growth slows
Capital Markets Watch: GoTyme, Wildflour scale up ahead of potential IPOs
GoTyme Bank targets IPO within 3-4 years as they prioritize scale Wildflour Hospitality Group eyes IPO beyond 2026 as expansion accelerates nationwide
Deals Spotlight: Hotel101 gears up for US$300 million fundraising; Navegar currently raising US$250 million
Hotel101 Global plans US$300 million fundraising for their global expansion Navegar targets US$250 million raise for recent fund with IFC as an anchor investor
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Macro Movements: Growth targets recalibrated; liquidity easing back on the table
Philippine government trims 2026 – 2027 growth goals RRR cut in 2026 seen to support growth
BoI approvals breach the PHP1.5 trillion mark for second straight year ADB approves USD400 million loan to improve ease of doing business
Deals Spotlight: Strategic infrastructure ownership; deeper cross-border financial partnerships
Maharlika plans PHP8 billion investment in Asian Terminals stake Sumitomo Mitsui boosts RCBC stake to 24.46%
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Macro Movements: GDP Outlook Softens; Digital Sector Remains Strong
S&P and the ASEAN+3 Macroeconomic Research Office (AMRO) Downgrade Philippine Growth OutlookPhilippine Digital Economy Set to Hit USD 36 Billion in 2025
Industry Insights: HMO Earnings Surge; Semiconductors to Beat Forecasts
Philippine HMO Industry Triples Earnings in the Third Quarter of 2025Philippine Semiconductor Exports Set to Grow Through 2025 and 2026
Deals Spotlight: CIP Plans Major Onshore Wind Project; First Gen Pursues USD 652M Hydro Expansion
Copenhagen Infrastructure Partners (CIP) to Invest PHP 30.5 Billion in Onshore Wind FarmFirst Gen Corporation (First Gen) to Invest up to USD 652 Million to Expand Hydro Portfolio
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