Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
320 articles from BusinessWorld
Energy security requires investment beyond power generation
The Energy Regulatory Commission (ERC) is expected to release the next rate reset ruling under its updated regulatory framework for power distribution. The rate reset process establishes the rules and parameters governing investments, operations, and pricing in the distribution sector. As the segment of the power industry that directly serves consumers, distribution utilities play a […]
Read more →Megaworld says 1st half office lease renewals jumped 45.6%
MEGAWORLD CORP. posted a 45.6% increase in office lease renewals in the first half, driven by demand across its integrated township developments and the full occupancy of 24 office towers in its portfolio. The property developer renewed about 122,000 square meters (sq.m.) of office leases in the January-to-June period, up from 83,353 sq.m. in the […]
Read more →SEC, Mynt, Fuse partner on financial literacy campaign
THE Securities and Exchange Commission (SEC), Mynt, Inc., and Fuse Financing, Inc. have signed a memorandum of understanding (MoU) to collaborate on financial literacy, responsible borrowing, and consumer protection initiatives. In a statement on Tuesday, the SEC said the agreement provides a framework for the three organizations to develop and distribute SEC-approved educational materials through […]
Read more →Banks’ FCDU loans slip as of March
OUTSTANDING LOANS granted by banks’ foreign currency deposit units (FCDU) went down at end-March as loans to nonresidents dropped, data from the Bangko Sentral ng Pilipinas (BSP) showed. FCDU loans were at $15.439 billion as of March, declining from $15.782 billion in the comparable year-ago period and $15.561 billion at end-December, the central bank said […]
Read more →PHL stocks drop on uncertainty over US-Iran talks
PHILIPPINE SHARES retreated on Tuesday as investors pocketed their profits and took a cautious stance amid persistent geopolitical uncertainty and a lack of fresh trading drivers. The Philippine Stock Exchange index (PSEi) dropped by 1.56% or 96.24 points to close at 6,037.17, while the broader all shares index fell by 1% or 33.67 points to […]
Read more →Senate ready for Sara’s impeachment trial as preparations enter final phase
THE Senate is ready for the impeachment trial of Vice-President Sara Duterte-Carpio, Senate President Sherwin T. Gatchalian said on Tuesday, as preparations entered the final stage with the inspection of security arrangements and the venue of the trial, which starts on July 6. “We are very prepared,” he told reporters during an inspection at the […]
Read more →Lawmakers seek tighter safeguards for kids on Facebook, other socmed
LAWMAKERS in both the Senate and House of Representatives are pushing tighter safeguards for children on social media (socmed) following recent school violence involving minors, with proposals ranging from a congressional inquiry into the platforms’ effects on youth to stricter age restrictions and parental oversight. Senator Vicente C. Sotto III on Tuesday filed a resolution […]
Read more →EDSA protest disrupts traffic; Marcos cancels events
A SURPRISE protest that snarled traffic along Epifanio de los Santos Avenue (EDSA) on Tuesday after the Ombudsman announced a nonbailable plunder case against a sitting senator forced President Ferdinand R. Marcos, Jr. to cancel public engagements and heightened political tensions days before Vice-President Sara Duterte-Carpio’s impeachment trial. Supporters of Senator Rodante D. Marcoleta gathered […]
Read more →House resumes hearings on wage hike bills
THE Department of Labor and Employment on Tuesday defended the country’s regional wage-setting system as the House of Representatives Labor and Employment Committee resumed hearings on bills seeking legislated minimum wage increases.
Read more →PHL, EU capital tackle FTA
FOREIGN Affairs Secretary Ma. Theresa P. Lazaro on Tuesday said the Philippines is in talks with the European Union’s (EU) capital to fast-track the conclusion of a free trade agreement (FTA), identifying new areas of partnerships on trade and maritime cooperation. At a joint media briefing with Belgium Deputy Prime Minister and Foreign Minister Maxime […]
Read more →DSWD readies P5.55-B aid stockpile
THE Department of Social Welfare and Development (DSWD) said on Tuesday it has readied P5.55 billion worth of relief supplies and standby funds as a low-pressure area (LPA) and the southwest monsoon threaten parts of Luzon and the Visayas. DSWD Assistant Secretary Irene B. Dumlao said the agency has placed its field offices on alert […]
Read more →Network for mental health pushed
A LAWMAKER on Tuesday called for the formulation of a regional rapid response network for mental health and child protection following the shooting in Tacloban City, which killed three students and injured at least 20 others. In a statement, Leyte Rep. Ferdinand Martin G. Romualdez said he met with officials from the Department of Education, […]
Read more →BI cracks down on errant foreigners
THE Bureau of Immigration (BI) on Tuesday warned that foreign nationals who violate Philippine immigration laws will face deportation, blacklisting, and other legal sanctions as it stepped up enforcement efforts in Siargao Island. Immigration Commissioner Joel Anthony M. Viado said the Philippines remains open to legitimate tourists, investors, students, and foreign residents, but those who […]
Read more →Nueva Vizcaya expands aid for solo parents
BAYOMBONG, Nueva Vizcaya — Nueva Vizcaya has stepped up its social welfare programs by releasing P6.135 million in cash assistance to 1,227 solo parents and preparing the province-wide rollout of its P20-per-kilo rice program for poor and vulnerable families next month. Provincial Social Welfare and Development Officer Flordelina C. Granada said each beneficiary from the […]
Read more →Bangsamoro police continue probe of fatal Lanao del Sur ambush
COTABATO CITY — Police investigators and local executives are still trying to put a closure on the fatal ambush of a soldier and a public school teacher on Saturday, in Barangay Lamin in Malabang, Lanao del Sur. Capt. Steffi P. Salanguit, spokesperson of the Police Regional Office-Bangsamoro Autonomous Region, and Col. Caezar P. Cabuhat, Lanao […]
Read more →LANDBANK OKs P800-M loan for Palawan microgrid projects
LAND BANK of the Philippines (LANDBANK) said it approved an P800-million financing package for Archipelago Renewables Corp. (ARC), which plans to develop hybrid renewable energy microgrids in Palawan. The company will build 16 microgrids and a 175-kilometer distribution network capable of supplying electricity to about 7,100 households, more than 300 small businesses, and key community […]
Read more →Impact of fertilizer crisis to start showing up in global harvests by 2027, OECD, FAO say
THE fertilizer shortage caused by the Persian Gulf war will start showing up in crops by 2027, the Organisation for Economic Co-operation and Development (OECD) and the Food and Agriculture Organization (FAO) said. In their Agricultural Outlook for 2026 to 2035, the two organizations said increased energy prices and reduced fertilizer could lead to the […]
Read more →El Niño strategy to focus on irrigation, cold storage
AGRICULTURE SECRETARY Francisco P. Tiu Laurel, Jr. said the Department of Agriculture’s (DA) plans for the looming El Niño will center around irrigation and water impounding projects as well as expanding the cold storage network to preserve the harvest and minimize the need to import. Mr. Laurel said inadequate storage and infrastructure is a major factor […]
Read more →Cebu cold storage supply tightening, warehouse leases stable — PRIME
THE supply of cold storage in Cebu is tightening, with a vacancy rate of only 2% of the estimated 105,600 square meters (sq.m.) of leasable pallet positions, PRIME Philippines said in a special market report. The shrinking vacancies at temperature-controlled logistics providers was attributed to rising port activity and changing consumer supply chain preferences. Major […]
Read more →Cement industry sets decarbonization targets
CEMENT manufacturers said they plan to cut back on clinker and accelerate the shift to alternative fuels in order to reduce the industry’s carbon footprint. The Cement Manufacturers Association of the Philippines (CeMAP) launched the Philippine Cement and Concrete Industrial Decarbonization Roadmap on June 29, with a target to reduce clinker use to 68% of […]
Read more →Philippine pineapple shipments start arriving in UAE
THE Department of Agriculture (DA) said on Tuesday that an 18-metric ton (MT) shipment of fresh MD2 pineapples landed in the United Arab Emirates (UAE). The DA made the announcement after a ceremonial launch held at the Al Aweer Fruit and Vegetable Market in Dubai which was organized by the DA’s Office of the Agricultural […]
Read more →BIR, Swiss chamber sign cooperation agreement
THE Bureau of Internal Revenue (BIR) said it signed a memorandum of understanding (MoU) with the Swiss Chamber of Commerce of the Philippines (SwissCham) to collaborate on tax policy and administration. In a statement on Tuesday, the BIR said the MoU establishes a framework for cooperation through regular dialogue, knowledge sharing, technical exchanges, assistance in […]
Read more →Private sector seeks easing of merger notification rules for PPPs
THE private sector is pushing for an easing of merger notification requirements for public-private partnership (PPP) projects, citing the need to accelerate infrastructure development, the Philippine Competition Commission (PCC) said. The PCC had conducted focus group discussions among companies, regulators, and investment promotion agencies on the draft rules updating the process for exempting PPP projects […]
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