https://www.scmp.com/rss/523466/feed The latest news and top stories on Rizal Commercial Banking Corporation. A leading entity in the financial services sector, Makati, Philippines based Rizal Commercial Banking Corporation (RCBC) is one of the largest universal banks in the country. Established in 1960, it offers a wide range of products including commercial corporate and consumer lending, cash management, treasury, remittance and digital banking services. RCBC serves diverse customer segments from individuals to large... 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 Rising fuel costs linked to the Middle East conflict could push more Filipinos deeper into debt, analysts have warned, with one regional study describing the Philippines’ credit card burden reaching a “critical” risk level. Although credit card ownership in the Philippines remains relatively low, data indicates that cardholders appear to be using them far more intensively as living costs outpace income growth. Credit card receivables in the Philippines have been growing consistently at more than... https://www.scmp.com/week-asia/economics/article/3348579/will-surging-fuel-prices-push-filipinos-deeper-credit-card-debt?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3348579/will-surging-fuel-prices-push-filipinos-deeper-credit-card-debt?utm_source=rss_feed Wed, 01 Apr 2026 00:00:12 +0000 Sam Beltran Sam Beltran The Philippines was hit by a sharp fuel-price shock on Tuesday, with pump costs surging after the escalating conflict involving Iran pushed global oil prices higher, in what could become one of the country’s steepest weekly increases in years. Consumer groups say the surge is exposing a deeper problem: a deregulated oil industry introduced in the late 1990s that allows companies to set pump prices in line with global markets, leaving the government with fewer tools to intervene than many of its... https://www.scmp.com/week-asia/economics/article/3346130/philippines-fuel-shock-exposes-limits-deregulated-oil-market?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3346130/philippines-fuel-shock-exposes-limits-deregulated-oil-market?utm_source=rss_feed Tue, 10 Mar 2026 12:36:03 +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 The Philippines has fallen in a global corruption perception ranking, as allegations of financial wrongdoings and court cases surrounding a multibillion-peso flood-control programme have deepened doubts about its governance and dented investor confidence. Berlin-based watchdog Transparency International said the Philippines ranked 120th out of 182 countries and territories in its 2025 Corruption Perceptions Index, down six places from the previous year. The country received a score of 32 on a... https://www.scmp.com/week-asia/economics/article/3344179/views-corruption-philippines-worsen-grease-money-dents-confidence?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3344179/views-corruption-philippines-worsen-grease-money-dents-confidence?utm_source=rss_feed Sat, 21 Feb 2026 09:00:10 +0000 Sam Beltran Sam Beltran As Southeast Asia accelerates into electric vehicle manufacturing, industry leaders in the Philippines say their country risks falling behind neighbours that have moved quickly to support the sector, with policy uncertainty raising doubts about Manila’s commitment to long-term growth. Those concerns sharpened last month when President Ferdinand Marcos Jnr vetoed 92.5 billion pesos (US$1.56 billion) in unprogrammed appropriations from the 2026 national budget, a move that also swept up funding... https://www.scmp.com/week-asia/economics/article/3341865/philippines-falling-behind-ev-race-southeast-asia-revs?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3341865/philippines-falling-behind-ev-race-southeast-asia-revs?utm_source=rss_feed Sun, 01 Feb 2026 05:00:08 +0000 SCMP’s Asia desk SCMP’s Asia desk The Philippines is lagging behind its Southeast Asian peers in winning back Chinese tourists, with arrivals still only a fraction of pre-pandemic levels, according to new regional research. Just over 312,000 Chinese tourists visited the Philippines in 2024, equivalent to about 18 per cent of 2019’s visitor numbers, the Asean+3 Macroeconomic Research Office (Amro) said in a publication released on Thursday. Chinese visitors accounted for only 5 per cent of the country’s international tourist... https://www.scmp.com/week-asia/economics/article/3337022/philippines-struggles-win-back-chinese-tourists-regional-rivals-surge?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3337022/philippines-struggles-win-back-chinese-tourists-regional-rivals-surge?utm_source=rss_feed Fri, 19 Dec 2025 06:15:59 +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 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