BIZ BUZZ: Drama at DBCC?

MANILA, Philippines – Is there a rift in the economic team? Some folks are wondering after a few unexpected moments during last week’s Development Budget and Coordination Committee (DBCC) press conference.

The 191st DBCC meeting—where key government economic targets are set—had a few firsts.

For starters, it was the first time the secretary of the newly created Department of Economy, Planning and Development (DepDev), formerly Neda, sat as vice chair. The secretary of DepDev recently took over as head of the economic team—a post that was previously held by the finance chief.

BIZ BUZZ: NUSTAR Hotel Cebu lands on Michelin guide

It was also DepDev’s first time hosting the DBCC press briefing at its Mandaluyong office. Previously, these were held at the Finance department’s headquarters in Manila.

But things got interesting when reporters saw the DBCC’s updated growth targets in a breaking news before the official 4 p.m. press conference even began. According to the headline, the finance chief—who skipped the event and sent another official in his place—revealed that the growth outlook for 2025 has been tempered.

Traditionally, those numbers are top-secret until formally announced by the budget secretary—who chairs the DBCC. So, the early release caught both the press and other DBCC members off guard.

But when asked if there was tension in the ranks, Budget Secretary Amenah Pangandaman immediately dismissed the idea. And honestly, that is all the assurance that we need. —Ian Nicolas P. Cigaral

Coming soon: New BSP website

The Bangko Sentral ng Pilipinas (BSP) will celebrate its upcoming anniversary in one of the best ways possible––a new digital look.

Specifically, the BSP will debut a new website with “smarter navigation” and “same commitment”.

The revamped website will be operational starting July 3, in time for the BSP’s 32nd anniversary celebration.

But ahead of the official launch, the public can already check out the new portal at website.bsp.gov.ph.

With its refreshed website, the BSP reinforces its commitment to transparency, accessibility, and innovation, therefore bringing the central bank closer to every Filipino in the digital age. –– Ian Nicolas P. Cigaral

Go for gold

In a world of constant change, some things remain golden—like gold that continues to shine as a safe-haven investment.

Billionaire Manuel V. Pangilinan believes now is the best time for the Philippine mining sector to capitalize more on the strong demand for metals, particularly gold and nickel.

“The world’s continuing to be in flux. Gold is a safe haven, right?” Pangilinan said on the sidelines of Philex Mining Corp.’s annual stockholders’ meeting.

“I think the impact of electric vehicles also will impact well on metals in general, particularly nickel and gold,” said Pangilinan, chair of Philex Mining.

For Pangilinan, the continued demand for metals is a win-win not just for the mining sector but for the Philippines as well.

“We should really encourage mining, the mining firms to get going,” he added.

And with the mining sector ushering in a new era, the tycoon expressed his willingness to work closely with the new environment secretary, Raphael Lotilla, to unlock the industry’s full potential.

“Well, he’s a competent person. We’re glad that he’s there from the energy department and hopefully we can work with him. I think we can work well with him,” Pangilinan said. — Jordeene B. Lagare