Philippines Business News

MARIKINA RIVER

Marcos orders heightened alert as rains persist

MANILA, Philippines — President Ferdinand Marcos Jr. has directed concerned agencies to remain on heightened alert amid continued heavy rains over the weekend that submerged some parts of Metro Manila and nearby provinces, Malacanang said. Presidential Communications Office (PCO) Undersecretary Claire Castro said the President closely monitored "the impact of the habagat (southwest monsoon), particularly the situation in flood-prone areas and the rising water levels in dams and reservoirs.

Manila mayor suspends classes on Monday

MANILA, Philippines — Manila Mayor Francisco "Isko" Moreno Domagoso ordered the suspension of classes in all levels in public and private schools on Monday, August 10. The mayor cited "inclement weather brought about the southwest monsoon enhanced by Tropical Cyclone Dolphin" as the reason for the suspension of classes upon the recommendation of the Manila City Disaster Risk Reduction and Management Department.

Sinolook Highlights the Growing Importance of High-Quality Base Oil in the Philippines' Lubricant and Automotive Sector

XIAMEN, China, August 9, 2026 /MarketersMEDIA/ -- The Philippines' automotive and industrial sectors are expanding at a pace that reflects the country's broader economic momentum. With vehicle sales consistently among the strongest in Southeast Asia, a growing motorcycle fleet that numbers in the tens of millions, and an industrial base that spans manufacturing, mining, shipping, and construction, the demand for high-performance lubricants is rising steadily across every segment of the Philippin

PCSO Lotto Results | August 9, 2026

Action Energy Company Reports H1 2026 Financial Results

KUWAIT CITY, Aug. 9, 2026 /PRNewswire/ -- Action Energy Company K.S.C.P. (AEC), listed on Premier Market of Boursa Kuwait (Bloomberg: ALFTAQA KK) (Reuters: ALFTAQA.KW), Kuwait's leading local partner for integrated upstream services, owner and operator of one of the youngest rig fleets in the region, announced its financial results for the first half ended 30 June 2026. Action Energy Company Rig Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah, AEC Chairman, said: "H1 2026 reflects the resilience of

How to spot the Perseid meteor shower, a summer light show that promises to dazzle

NEW YORK — The Perseid summer light show is back — and viewing conditions are especially promising for the Northern Hemisphere. The meteor shower's peak Wednesday night into Thursday morning coincides with a total solar eclipse across Spain, Iceland and Greenland and a six-planet parade — though the best time to view the fireballs will come after totality. As many as 50 to 100 meteors per hour may be visible under ideal conditions, according to NASA. The American Meteor Society

GearUP and Escape from Tarkov Partner to Enhance Online Gaming Experience for the New Season

SINGAPORE, Aug. 9, 2026 /PRNewswire/ -- GearUP, a global game network optimization platform, and Escape from Tarkov, the acclaimed multiplayer tactical shooter, announced on August 4 a collaboration to help players enjoy a smoother and more reliable online experience as the game enters its new season. With players connecting from different regions around the world, maintaining stable and responsive online gameplay has become increasingly important. Through this collaboration, GearUP will provide

Many immigrants face deportation without a lawyer at their side in court

SACRAMENTO, California — Lawyer Kamalpreet Chohan ran her finger down a list of 57 names of people scheduled to appear during a morning of hearings at the immigration court in California's capital and pointed out one glaring absence. “None of these folks are represented,” she said. Chohan is the coordinator of a program that sends volunteer lawyers to immigration courts to assist people without representation and help them navigate the complicated legal system where the stakes

Mixed data, Mideast news to keep market wary

PHILIPPINE SHARES may move sideways this week as investors stay cautious amid lingering geopolitical tensions and mixed domestic economic data, with slower-than-expected growth clouding the outlook. On Friday, the Philippine Stock Exchange index (PSEi) rose by 0.2% or 12.40 points to close at 6,290.35, while the broader all shares index went up by 0.15% or […]

Ruvi AI Surpasses 60% of Phase 4 as AI Crypto Presale Continues Rapid Momentum Following Record-Breaking Phase 3

AI Blockchain Project Crosses Another Major Presale Milestone as Community Turns Its Attention Toward the Final Stretch of Phase 4 DUBAI, United Arab Emirates, Aug. 09, 2026 (GLOBE NEWSWIRE) -- Ruvi AIhas now surpassed 60% completion inPhase 4 of its token presale, marking another significant milestone for the AI-powered blockchain ecosystem following the rapid sellout of Phase 3 in less than a month. The latest announcement highlights the continued momentum behind the project as participation s

‘Govt reforms led to completion of infra projects’

MANILA, Philippines — Presidential Legislative Officer Joey Sarte Salceda on Sunday said the reforms that President Ferdinand Marcos Jr. had instituted led to faster completion of key infrastructure projects. He said the latest Department of Public Works and Highways (DPWH) reports indicated "improvements in several important categories." Based on DPWH’s quarterly physical report of operations, the fourth-quarter rate of bridge projects completed in accordance with plans and specific

Senate to resume work Monday — Gatchalian

MANILA, Philippines — Senate President Sherwin Gatchalian on Sunday said that the Senate will resume work on Monday following the suspension declared on Thursday due to heavy rainfall from Tropical Storm Maymay and the southwest monsoon. "Just to inform everyone that the Senate has work tomorrow - 10 a.m. impeachment and 4 p.m. session," Gatchalian said in a text message.

Nagasaki marks 81st atomic bomb anniversary as mayor says nuclear deterrence only increases risk

TOKYO — Nagasaki marked on Sunday the 81st anniversary of the US atomic bombing of the southwestern city, as the mayor called nuclear weapons "absolute evil,” denounced growing support for nuclear deterrence and called on the Japanese government to adhere to its three postwar non-nuclear principles. The anniversary coincided with Japanese Prime Minister Sanae Takaichi ’s government revising the country's defense policy to further bolster the military's offensive capability. Spe

PHL seen retaining UMIC status despite economic slowdown

THE PHILIPPINES is unlikely to lose its newly attained upper-middle income country (UMIC) status despite the sharp economic slowdown in the first half, the Department of Economy, Planning, and Development said.

Luisita interchange expansion due to break ground this week

THE Bases Conversion and Development Authority (BCDA) said it is set to break ground for the expansion of the Luisita interchange in Tarlac City this week, with operations expected in nine months. “We will complete the entire interchange,” BCDA President and Chief Executive Officer Joshua M. Bingcang told reporters on the sidelines of a briefing […]

DoF sees 10% of GOCCs at risk of abolition

THE Department of Finance (DoF) said non-performing government-owned and -controlled corporations (GOCCs) could be abolished to free up public resources. “As a matter of principle, GOCCs that can no longer effectively fulfill their mandate or unnecessarily drain public resources should be abolished, or their functions absorbed by another GOCC or government agency,” Finance Secretary Frederick […]

Job creation too slow to absorb influx of workers — analysts

THE unemployment rate rose to 4.9% in June as more workers entered the labor force, but weak economic growth and a contraction in investment suggest the economy is struggling to generate enough jobs to absorb the influx, analysts said. The Philippine Statistics Authority (PSA) said around 650,000 jobseekers sought to enter the workforce for the […]

DA, LLDA to revive Parañaque Spillway project

THE Department of Agriculture (DA) and the Laguna Lake Development Authority (LLDA) said they are reviving the P90-billion Parañaque Spillway project, citing the need to transform Laguna de Bay into a productive fisheries hub and a dependable freshwater reservoir for Metro Manila and nearby provinces. The 10.5-kilometer spillway, which was first proposed in the 1970s, […]

SEC, BIR to establish filing portal for audited financial statements

THE Securities and Exchange Commission (SEC) and the Bureau of Internal Revenue (BIR) said they signed a memorandum of understanding to simplify compliance requirements for businesses, including the filing of audited financial statements. In a statement late Friday, the Commission said the agreement establishes a framework for the two agencies to work together on policy […]

How new frontiers are driving the global race for resources

C-suite leaders are increasingly operating in what EY describes as a NAVI risk environment: non-linear, accelerated, volatile, and interconnected.

Wildfire forces 20,000 evacuations in western Canada

VICTORIA — Canadian officials declared a state of emergency Saturday after a fast-moving wildfire in the western province of British Columbia forced the overnight evacuation of more than 20,000 people, including some who were airlifted to safety. Winds fanned the Bald Range wildfire to grow rapidly late Friday, pushing flames into the Summerland area and affecting communities throughout the surrounding valleys. "We know there have been significant losses of homes and property. We also know

Marcos’ hunger, health programs need stronger funding, reforms, analysts say

PRESIDENT Ferdinand R. Marcos, Jr.’s programs to reduce hunger and improve healthcare could become defining parts of his administration’s legacy, but their impact will depend on implementation, sustainable funding and institutional reforms, analysts said.

Analysts urge state to fix underspending as 2027 budget hearings begin

GOVERNMENT AGENCIES should address persistent underspending and boost their capacity to implement programs before seeking bigger allocations in the 2027 national budget, analysts said.