https://www.scmp.com/rss/523465/feed The latest news and top stories on Union Bank of the Philippines. A leading entity in the finance sector, Pasig City-based Union Bank of the Philippines specialises in a comprehensive range of banking products including deposits, loans, cards, investments and digital services. It primarily serves retail consumers, SMEs and corporate clients, with a strong focus on fintech enthusiasts. Notable achievements include consistently winning "Best Digital Bank" awards and being named “Best Retail Bank... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Sam Beltran Sam Beltran Manila is following its Southeast Asian neighbours’ lead by seeking talks with Iran to secure safe passage for Philippine-bound tankers through the Strait of Hormuz, a move observers have called “a matter of survival”. Philippine Foreign Affairs Secretary Theresa Lazaro posted on social media that she and energy secretary Sharon Garin had met Iran’s envoy Yousef Esmaeilzadeh on Wednesday to discuss energy cooperation and the advancement of bilateral ties. “Pleased to meet Iranian Ambassador to... https://www.scmp.com/week-asia/economics/article/3348701/philippines-seeks-iran-talks-safe-passage-vessels-through-hormuz-amid-energy-crisis?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3348701/philippines-seeks-iran-talks-safe-passage-vessels-through-hormuz-amid-energy-crisis?utm_source=rss_feed Wed, 01 Apr 2026 12:55:31 +0000 Sam Beltran Sam Beltran Mario Orain used to earn his living on the road. Now, the 51-year-old driver spends most of his time parked up, waiting for bookings that rarely come. “It’s really bad,” he told This Week in Asia. “There are very few bookings. And fuel prices have gone up a lot. It’s very expensive now.” With diesel prices in the Philippines shattering record highs amid the war on Iran, transport workers like Orain are being forced off the road as they face a stark choice between filling their tanks or feeding... https://www.scmp.com/week-asia/economics/article/3347356/philippine-fuel-prices-hit-record-highs-food-inflation-fears-grow?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3347356/philippine-fuel-prices-hit-record-highs-food-inflation-fears-grow?utm_source=rss_feed Sat, 21 Mar 2026 05:30:08 +0000 Sam Beltran Sam Beltran An investigation into allegedly corrupt flood-control projects worth billions of pesos is beginning to ripple through the Philippines’ public finances, slowing infrastructure spending and adding uncertainty to the government’s investment-driven growth strategy. The budget deficit widened 4.68 per cent to 1.58 trillion pesos (US$26.5 billion) in 2025, Treasury Bureau data showed, surpassing 2024’s record of 1.51 trillion pesos. Despite slowing disbursements amid tighter scrutiny of public works... https://www.scmp.com/week-asia/economics/article/3346029/philippines-budget-deficit-hits-record-us265-billion-corruption-probe-bites?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3346029/philippines-budget-deficit-hits-record-us265-billion-corruption-probe-bites?utm_source=rss_feed Tue, 10 Mar 2026 04:00:11 +0000 Sam Beltran Sam Beltran As dusk settles over Angeles City, Justin Cunanan prepares for another long night. While the rest of the Philippines sleeps, he joins millions of his compatriots powering a global industry that is now facing threats from both Washington and Silicon Valley. For the next nine hours, the 33-year-old will field customer service calls for a company based in the United States. The night shift is gruelling, but for Cunanan, who previously worked in hospitality, the benefits of a business process... https://www.scmp.com/week-asia/economics/article/3329438/us-call-centre-act-threatens-philippines-us30-billion-outsourcing-boom?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3329438/us-call-centre-act-threatens-philippines-us30-billion-outsourcing-boom?utm_source=rss_feed Sat, 18 Oct 2025 05:30:08 +0000 Sam Beltran Sam Beltran South Korean President Lee Jae-myung has ordered the suspension of a proposed 700 billion won (US$503 million) infrastructure loan for a bridge-building project in the Philippines due to corruption concerns, even though Manila insists no such agreement was ever signed. Seoul’s decision has raised questions about investor confidence in the Philippines, where a sprawling corruption scandal over flood control projects has already shaken public trust. The optics of a key partner pulling back over... https://www.scmp.com/week-asia/economics/article/3325312/south-korea-suspends-us503-million-loan-philippines-over-corruption-fears?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3325312/south-korea-suspends-us503-million-loan-philippines-over-corruption-fears?utm_source=rss_feed Fri, 12 Sep 2025 07:02:24 +0000 Sam Beltran Sam Beltran Philippine President Ferdinand Marcos Jnr is set to begin a state visit to Cambodia on Sunday in a bid to revitalise bilateral relations and address shared challenges such as transnational crime, in what analysts say is a platform for both countries to realise their untapped trade opportunities. Marcos and first lady Liza Araneta-Marcos are scheduled to be in Cambodia until Tuesday for a three-day visit, following an invitation from King Norodom Sihamoni. The visit is seen as a reciprocal... https://www.scmp.com/week-asia/politics/article/3324602/why-cambodia-highly-important-philippines-marcos-eyes-trade-anti-crime?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3324602/why-cambodia-highly-important-philippines-marcos-eyes-trade-anti-crime?utm_source=rss_feed Sun, 07 Sep 2025 00:00:13 +0000 Sam Beltran Sam Beltran The move by US President Donald Trump to impose a higher-than-expected tariff on the Philippines signals his unwavering determination to pressure Washington’s trade partners to do their part in reducing the US deficit in tandem with its intensifying rivalry with China, according to analysts. Trump announced on Wednesday that the tariff on Philippine exports to the US would be 20 per cent, above the 17 per cent that he had previously threatened to impose. He said Washington’s trade partners were... https://www.scmp.com/week-asia/economics/article/3317765/philippines-urged-double-down-talks-over-20-tariff-trump?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3317765/philippines-urged-double-down-talks-over-20-tariff-trump?utm_source=rss_feed Thu, 10 Jul 2025 14:24:45 +0000