Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
1853 articles from BusinessWorld
Tugboat sinks off Botolan, Zambales
A tugboat sank off Botolan, Zambales province in northern Philippines on Monday after it began tilting sharply to one side while being towed from an area where it had run aground, the Philippine Coast Guard (PCG) said. All 10 workers aboard were rescued, it said in a Facebook post. “The prevailing strong waves and rough […]
Read more →Project NOAH gets P1-B boost
THE DEPARTMENT of Budget and Management (DBM) said it released P1 billion to the University of the Philippines System for Project NOAH to strengthen artificial intelligence (AI)-powered flood forecasting, real-time hazard monitoring and disaster-prevention capabilities. In a statement on Monday, the DBM said the funding for Project NOAH, or Nationwide Operational Assessment of Hazards, aims […]
Read more →House urged to review budget of AMLC, 10 others
A LAWMAKER on Monday called for closer House of Representatives scrutiny of the proposed budgets of 11 Executive offices and agencies, saying their allocations should undergo committee-level deliberations before being taken up in plenary. In a statement, Party-list Rep. Renee Louise M. Co asked the Committee on Appropriations Chair Mikaela Angela B. Suansing to include […]
Read more →More Filipinos trusted PNP in Q2
ABOUT 65% of Filipinos surveyed said they trusted the Philippine National Police (PNP) in the second quarter, up from 63% in the previous quarter, according to OCTA Research. In a statement on Monday, OCTA Research said its July 4 to 11 survey showed that nationwide distrust in the PNP decreased to 13% from 17% in […]
Read more →PSEi inches up on late-session bargain hunting
THE MAIN INDEX closed higher on Monday, supported by late-session bargain hunting as sentiment continued to be weighed down by the conflict between the United States and Iran. The Philippine Stock Exchange index (PSEi) went up by 0.21% or 12.92 points to close at 6,251.38. Meanwhile, the broader all shares index slipped by 0.01% or […]
Read more →Watchdogs oppose postponement of village, youth polls
POLL observers on Monday opposed the proposals to postpone the village and youth council elections scheduled for Nov. 2, saying that preparations for the polls may go to waste and may set a precedent in the future that would allow constant cancellations of the polls to give way for term extensions. At a Senate Local […]
Read more →AMLC scores convictions over financial fraud cases
THE Anti-Money Laundering Council (AMLC) on Monday said it has secured two convictions from regional courts against individuals involved in illegal investment schemes. “The Anti-Money Laundering Council has made significant progress in the fight against financial crime with two judgments convicting individuals for money laundering predicated on violations of the Securities Regulation Code (SRC),” it […]
Read more →BI intercepts 8 Indonesia-bound Filipinos in suspected ‘catphishing’ recruitment
THE BUREAU of Immigration (BI) intercepted eight Filipinos bound for Indonesia after authorities found indications they were recruited through a “catphishing” modus, the agency said on Monday. The five men and three women, aged 26 to 49, were intercepted on Aug. 7 at the Ninoy Aquino International Airport Terminal 1 while preparing to travel to […]
Read more →BoC, LTO probes possible Porsche misdeclaration
THE BUREAU of Customs (BoC) is investigating the possible misdeclaration of a Porsche 918 Spyder that was declared upon importation as a lower-priced Porsche Boxster, reflecting a P44.76-million difference in dutiable value. The investigation followed the Land Transportation Office’s (LTO) probe into the vehicle’s alleged use of an unauthorized plate and information indicating a possible […]
Read more →MGB flags 106 Cordillera barangays at risk of landslides
BAGUIO CITY — The Mines and Geosciences Bureau (MGB) Cordillera has warned of possible landslides and flash floods as the southwest monsoon continues to dump rain over the region, urging local governments to prepare for possible evacuations. MGB-Cordillera Regional Director Socrates G. Gaerlan called on provincial, city and municipal governments and disaster risk reduction councils […]
Read more →Green lane-eligible investments nearing P400B
ABOUT P391.84 billion worth of projects have been endorsed to the “green lane” system of expedited permits in the first seven months, the Board of Investments (BoI) said. In a statement on Monday, the BoI said 22 projects were deemed strategic and eligible for “green lane” treatment by the end of July. These are expected […]
Read more →US biz delegation encouraged by direction of PHL economic reform
A DELEGATION of US business executives said US companies are eager to step in as partners to the Philippines as it pursues its program of economic reforms. “The Philippine government has demonstrated a strong commitment to advancing its economic priorities, and the US private sector is committed to being a trusted partner in helping achieve […]
Read more →DTI obtains budget funding to pay CARS participants
THE Department of Trade and Industry (DTI) said it obtained budget funding to pay auto companies participating in the Comprehensive Automotive Resurgence Strategy (CARS) program. “We were able to secure the budget to pay for the CARS arrearages, padating na po (it’s on the way) but it’s in the process,” Trade Undersecretary Ceferino S. Rodolfo said during […]
Read more →Early-warning monitoring system to guard against vegetable oversupply
THE Department of Agriculture (DA) said that its Agricultural Marketing Assistance Service will configure its market early-warning system to address possible oversupply situations that result in the dumping of unsold vegetables. The DA is also planning to work with other government agencies that could buy up the surplus highland vegetable harvest to create more reliable […]
Read more →Diesel price rise to top P2/liter
MOTORISTS will continue to feel the impact of the turmoil in the Middle East, with diesel prices set to rise again by over P2 per liter, the Department of Energy (DoE) said. In an advisory on Monday, the DoE, which was given the authority to guide fuel prices during the energy emergency, said gasoline prices […]
Read more →Mining EO seen unlocking processing investment
EXECUTIVE ORDER (EO) 122, which established the National Policy Framework for Developing the Critical Minerals Industry, is expected to accelerate investment and exploration in mining by focusing on higher-value processing, miners and regulators said.
Read more →BCDA, StB GigaFactory to explore developing RE in New Clark City
THE Bases Conversion and Development Authority (BCDA) said it signed a memorandum of understanding (MoU) with StB GigaFactory, Inc. to deploy renewable energy (RE) solutions inside New Clark City. In a statement on Monday, the BCDA said StB GigaFactory will advance RE generation, energy storage systems, and e-mobility solutions across New Clark City and other […]
Read more →DigiPlus expands digital entertainment ecosystem with ArenaSocial and ArenaSocial Arcade
DigiPlus Interactive Corp. is expanding its digital entertainment ecosystem with the launch of ArenaSocial Arcade, a new game suite within ArenaSocial, its free-to-play social game entertainment platform designed to make interactive experiences more accessible, social, and engaging for a wider audience. The continued development of ArenaSocial, including the launch of ArenaSocial Arcade, marks another step […]
Read more →Saudel reaches near-Super Typhoon category, to enter PAR Monday afternoon — PAGASA
Saudel (international name) has reached the near-Super Typhoon category as it is bound to enter the Philippine Area of Responsibility (PAR) on Monday afternoon, according to the state weather bureau. “This tropical cyclone is currently at near-Super Typhoon category and further intensification into a Super Typhoon prior to entry or while within PAR is not […]
Read more →Potential Super Typhoon Saudel to enter PAR on Monday; enhanced southwest monsoon to drench Luzon — PAGASA
Typhoon Saudel (international name) will enter the Philippine Area of Responsibility (PAR) on Monday and then develop into a super typhoon, as the enhanced southwest monsoon brings rains over Luzon, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA). “Typhoon Saudel is expected to enter PAR this morning or afternoon,” PAGASA weather specialist […]
Read more →VP: Filipino language must keep pace with AI
VICE-PRESIDENT (VP) Sara Duterte-Carpio on Sunday urged Filipinos to ensure that the national language keeps pace with artificial intelligence (AI) and other technological advances, saying it should remain a tool for knowledge and digital innovation. “As we enter the era of modern technology, let us ensure that our national language is not left behind but […]
Read more →Poll: BSP to hike rates by 25 bps anew
PERSISTENT inflation pressures may warrant a third straight rate hike from the Bangko Sentral ng Pilipinas (BSP) this week, even as economic growth remains tepid, analysts said.
Read more →Philippines needs broader growth base to withstand shocks, say economists
THE Philippines must strengthen its productive capabilities and diversify an economy still heavily reliant on consumption and services to become more resilient to external shocks and advance toward high-income status, economists said.
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