Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
8555 articles across all sources
SSS investment income hits P27.16 billion in first semester
THE SOCIAL Security System (SSS) recorded P27.16 billion in investment income for the first half of the year as it continued to invest in the Philippines’ capital market. This translated to an annualized return on investment of 4.53%, excluding realized gains from the sale of equity securities classified as fair value through other comprehensive income, […]
Read more →Globe says AI helped save P200M in network costs
GLOBE Telecom, Inc. said its use of artificial intelligence (AI) to predict potential network failures and enable preventive maintenance has generated about P200 million in savings. Jennifer Jane G. Echevarria, vice-president and head of enterprise data and strategic services at Globe, said the telecommunications company has recently used generative AI to forecast possible network failures […]
Read more →Peso tumbles as Middle East peace talks hit deadlock
THE PESO tumbled against the dollar on Thursday due to fading hopes for a peace deal between the United States and Iran as both sides remain at an impasse. The currency weakened by 16.3 centavos to close at P61.343 versus the greenback from its P61.18 finish on Wednesday, data from the Bankers Association of the […]
Read more →Ballet superstars from Russia return to Aliw stage
TWO of the world’s most celebrated ballet dancers are back in Manila for the staging of the timeless classic, La Bayadère, at the Aliw Theater. For three days, from Aug. 14 to 16, renowned ballet superstars Renata Shakirova and Kimin Kim will headline the show. Ballet Manila’s artistic director Lisa Macuja-Elizalde said at an Aug. […]
Read more →Upson Q2 profit climbs 47.4% on higher sales
LISTED information technology and electronics retailer Upson International Corp. posted a 47.4% increase in second-quarter (Q2) attributable net income to P110.4 million from P74.9 million a year earlier, as higher sales and improved margins lifted earnings. Gross revenue rose 11.45% to P3.28 billion from P2.95 billion, while gross expenses increased 9.39% to P3.17 billion from […]
Read more →Wise Philippines looks to leverage demand for low-cost foreign transfers
WISE is looking to expand its presence in the Philippines to leverage demand for remittance services and as it looks to help lower international transfer costs for Filipinos. “Personally, what I would like to have in the next three years is for more Filipinos to be familiar with the power of the Wise account — […]
Read more →Cinemalaya 2026 Pocket Reviews: On systems that inflict pain
By Brontë H. Lacsamana, Reporter THE 22nd edition of Cinemalaya is approaching its last few days, and BusinessWorld has watched six of the nine full-length films in competition. Cinemas at select malls in Metro Manila — Shangri-La, Gateway, and Ayala Malls (Manila Bay, Market! Market!, Glorietta, Circuit, and Trinoma) — are currently screening some of […]
Read more →FinTech Alliance PH backs push to use national ID for user verification
THE FINTECH Alliance PH is backing government and regulator proposals to use the national ID for account onboarding and identity verification to help reduce cyber fraud, especially in the financial space. “FinTech Alliance.PH is definitely supporting BSP (Bangko Sentral ng Pilipinas) and other government agencies, particularly the Information and Communications Technology and Cyber Crime Investigation […]
Read more →Bank of Makati looks to ramp up asset growth
BANK OF MAKATI (A Savings Bank), Inc. is looking to push its digital shift and launch more offerings as it seeks to regain its place as the sixth-largest thrift bank in the Philippines in asset terms. “Based on our latest data…, we’re not satisfied with our ranking. In terms of assets, I think we’re just […]
Read more →Metrobank rolls out new security features on digital banking app
METROPOLITAN BANK & Trust Co. (Metrobank) has rolled out new security measures on its digital banking application to combat financial fraud and in compliance with the Anti-Financial Account Scamming Act (AFASA). Metrobank said it has updated its mobile app to integrate four new security features, namely, a 24-hour cooling-off period after a major account update, […]
Read more →ALI units now offer Pag-IBIG financing
Pag-IBIG Fund has partnered with Ayala Land residential brands Avida Land Corp. and Amaia Land Corp. to expand housing options for Filipino workers, including middle-income borrowers who can now access loans of up to P10 million.
Read more →Ancillary services
In a press briefing, Meralco’s Larry Fernandez, head of Utility Economics, explained that consumers will not feel the full impact of Meralco’s 59-centavo-per-kWh reduction because transmission charge increased by 30 centavos per kwh.
Read more →Ayala core earnings drop in H1 on lower real estate contribution
Core earnings of conglomerate Ayala Corp. fell by seven percent to P22.1 billion in the first half amid lower contributions from its real estate arm and reduced non-operating income.
Read more →Data centers, digital bank new PLDT growth drivers
Telco giant PLDT Inc. has found new growth drivers in its data centers and digital bank as its broadband and mobile segments struggle to overcome consumer challenges.
Read more →Direct listing of pref shares now allowed
The direct listing of preferred shares as an alternative to traditional initial public offerings (IPOs) will now be allowed as part of the Philippine Stock Exchange Inc. (PSE)’s efforts to democratize access to the stock market.
Read more →Foreign investments surge 68% to P115 billion
Foreign investment commitments approved by investment promotion agencies jumped by 68 percent in the second quarter from a year ago, with the bulk to go to manufacturing activities, according to the Philippine Statistics Authority (PS.
Read more →Hidden forex fees cost Pinoys P50 billion – report
Filipino consumers and businesses lost an estimated P50 billion to foreign exchange markups on cross-border transactions in 2024, according to global payments firm Wise.
Read more →Luzon provinces eyed as sites for nuclear power plants
Filipinos in Bataan, Palawan, Masbate, Pangasinan and Camarines Norte could soon find themselves living near the Philippines’ first commercial nuclear power plants.
Read more →Mideast firms mull oil stock piling in Philippines
Industry players from the Middle East are looking to invest in the Philippines’ planned strategic oil reserve, according to Energy Secretary Sharon Garin.
Read more →PAL plunges into net loss in H1
Flag carrier Philippines Airlines had its wings clipped by rising prices in the first half, as it incurred a net loss of $25.1 million due to a double-digit increase in fuel costs.
Read more →Philippines taps P14 billion French loan for blue economy reforms
The Philippines has tapped another P14.03-billion loan from France to finance reforms aimed at protecting marine ecosystems, expanding the blue economy and creating more sustainable livelihoods for over three million Filipinos.
Read more →Phl needs to restore investment confidence
According to the latest report of GlobalSource Partners on the Philippines written by former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa Guinigundo and Wilhelmina Manalac (who was also a high-ranking BSP official), the Philippine government needs to “restore the foundations for sustained, investment-led and productivity-driven growth” if it wants to truly grow the Philippine economy moving forward.
Read more →SSS eyes overseas markets as investments hit P1.27 trillion
The Social Security System had P1.27 trillion in consolidated investments as of end-June, giving the state pension fund greater room to explore opportunities overseas while maintaining its presence in the Philippine capital market.
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