Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
8186 articles across all sources
Senate clears anti-nepotism contract bill
THE Senate has approved on third and final reading a bill that would bar relatives of public officials within the fourth civil degree of consanguinity or affinity from participating in government contracts and projects. Fifteen senators voted to pass Senate Bill No. 1962, or the proposed Government Contracting and Procurement Integrity Act, which seeks to […]
Read more →Oil reserve measure filed in Senate
SENATOR Lorna Regina B. Legarda has filed a bill authorizing the government to perform measures preventing energy market abuse by allowing the Department of Energy (DoE) to examine fuel inventories and prescribe temporary pricing during fuel emergencies. “Monitoring is different from regulating. In normal times, the DoE must know the true state of supply, costs, […]
Read more →Poa: No CIF used in VP programs
VICE-PRESIDENT (VP) Sara Duterte-Carpio’s legal spokesperson Michael T. Poa said no confidential and intelligence funds (CIF) from the Department of Education (DepEd) were given to the Armed Forces of the Philippines (AFP) for youth activities despite AFP certifications attached to the VP’s liquidation reports. “Yes, I confirm that… As to confidential funds,” Mr. Poa, who […]
Read more →Jinggoy to pursue legal remedies
SENATOR Jose “Jinggoy” P. Ejercito Estrada, Jr. said he would pursue legal remedies after the Sandiganbayan allowed former Public Works Secretary Manuel M. Bonoan to be dropped as a co-accused in the plunder case against him. “While I respect the decision of the Sandiganbayan, I wish to emphasize that there remain legal remedies available to […]
Read more →OVP gets P785.2-M budget nod
THE House of Representatives Committee on Appropriations on Wednesday approved the proposed P785.2-million budget of the Office of the Vice-President (OVP) for 2027, extending parliamentary courtesy despite raised concerns. Party-list Rep. Robert L. Nazal moved to terminate budget deliberations to grant the OVP the same parliamentary courtesy extended to the Office of the President on […]
Read more →About P4B in NCR wages withheld
NEARLY P4 billion in wages may have been withheld since the first tranche of the Metro Manila minimum wage increase was halted, NAGKAISA Labor Coalition said as it urged the government to defend its implementation. The Regional Tripartite Wages and Productivity Board-National Capital Region (RTWPB-NCR) held a public hearing on minimum wage determination on Wednesday, […]
Read more →Angat Dam water level recovers after rains
THE water level of Angat Dam has started to go above its minimum operating level, the Metropolitan Waterworks Sewerage System (MWSS) said, recovering from its previously low reservoir level brought about the impacts of El Niño phenomenon. In a statement on Wednesday, MWSS Corporate Office said the Angat Dam’s water level has increased to 201.91 […]
Read more →Pangilinan seeks strict DENR review after floods
THE Department of Environment and Natural Resources’ (DENR) spending for anti-pollution programs will undergo strict Senate review, Senator Francis Pancratius N. Pangilinan said on Wednesday, as he attributed the widespread flooding to poor urban development. In a press statement, Mr. Pangilinan called on the DENR to enforce stricter regulations on reclamation, quarrying, mining and land […]
Read more →DoH eyes preventive HIV treatment coverage, expanded testing
THE Department of Health (DoH) on Wednesday said the outpatient package for human immunodeficiency virus (HIV) under the Philippine Health Insurance Corp. (PhilHealth) will be expanded to cover preventive medicine and expanded testing, as it seeks to have 95% of people living with HIV (PLHIV) undergo treatment. “PhilHealth is going to expand the coverage of […]
Read more →DoLE, NEA to form tripartite council for electric cooperatives
THE Department of Labor and Employment (DoLE) and the National Electrification Administration (NEA) are working to establish a tripartite council that will provide a permanent forum for addressing labor and employment concerns in the electric cooperative industry. In a statement on Wednesday, DoLE said the agencies have begun working on guidelines for the proposed Electric […]
Read more →Tax perks for athletes with global wins hurdles panel
A HOUSE of Representatives panel on Wednesday approved a measure seeking to exempt Filipino national athletes and coaches from taxes on rewards and incentives they receive from international sports competition. In a statement, Leyte Rep. Richard I. Gomez said that the House Committee on Ways and Means approved the tax provision under a substitute bill […]
Read more →DICT pushes stronger regional action vs digital threats
THE Department of Information and Communications Technology (DICT) said it is pushing for stronger regional action against harmful content, online scams and rising digital threats. “The Philippines cannot deal with these challenges alone, and neither can any ASEAN (Association of Southeast Asian Nations) member state. What we achieved in Singapore shows that engagement can produce […]
Read more →ARTA seeks single business ID to cut permitting delays
THE Anti-Red Tape Authority (ARTA) said it is working on the establishment of a single business identifier to be used across government transactions to help streamline business permitting. In a statement on Wednesday, ARTA said this aligns with the Department of Economy, Planning and Development’s (DEPDev) recommendation to institutionalize the Unique Business Identification Number (UBIN). […]
Read more →Gokongwei Brothers Foundation invests in classrooms, teachers
Gokongwei Brothers Foundation (GBF) said on Wednesday that it banks on classrooms and teachers to help address current gaps in the education sector. “We have always believed that education is one of the most powerful ways to transform lives. It opens doors to opportunity, helps individuals realize their potential,” GBF Chairman Lance Y. Gokongwei said […]
Read more →PHL shares fall as peso slides to new all-time low
PHILIPPINE SHARES closed lower on Wednesday as the peso finished at a new record low amid renewed inflation concerns, with reignited hostilities between the United States and Iran pushing up global oil prices. The Philippine Stock Exchange index (PSEi) dropped by 0.67% or 40.66 points to close at 6,053.23, while the broader all shares index […]
Read more →Vietnam ASF vaccine cleared for commercial sale
THE Department of Agriculture (DA) said on Wednesday that the Bureau of Animal Industry (BAI) approved the commercial sale of AVAC ASF LIVE, the first African Swine Fever (ASF) vaccine. Developed by AVAC Vietnam Joint Stock Co., AVAC ASF LIVE is a live, attenuated, gene-deleted, and freeze-dried vaccine designed to protect pigs from the ASF […]
Read more →Hotel association projecting 40,000 new rooms over 5 years
THE hotel industry is expected to expand by 40,000 rooms across 150 hospitality projects over the next five years, the Philippine Hotel Owners Association (PHOA) said. “In the next five years, we’re expecting over 150 hotel projects to be rolled out. That will add another 40,000 rooms,” PHOA Executive Director Benito C. Bengzon, Jr. said […]
Read more →PHL has potential to again become Nissan’s leading market in ASEAN
NISSAN MOTOR Co., Ltd. said the Philippines could retain its top spot in the ASEAN market in vehicle sales, driven by growing interest in electrified models. “In the ASEAN market, the Philippines is number two, but it has the potential to rise to number one,” Nissan ASEAN and Thailand President Masao Tsutsumi said at a […]
Read more →Photonics company Coherent seeking to expand Philippine manufacturing operation
THE Philippine Economic Zone Authority (PEZA) said Coherent II-VI Laser Enterprise Phils., Inc. is looking to expand its Philippine manufacturing operation. PEZA cited Coherent’s plans to “strengthen the Philippines’ role in the global supply chain for photonics, optical communications, advanced materials, and semiconductor-related technologies.” Coherent has invested about P1.7 billion in its Philippine operations as […]
Read more →Business name registrations down 13% in August
BUSINESS NAME registrations in August declined 13.3% year on year to 64,331, the Department of Trade and Industry (DTI) said. According to the DTI’s business name registration system, 57,783 were new registrations, while 6,548 were renewals. Month on month, business name registrations in August declined 20.68% from July. Some 57,193 registrations recorded during the month […]
Read more →Sugar outlook clouded by weather, pest infestation
THE Sugar Regulatory Administration (SRA) said it expects sugar production and exports to drop this year due to floods in the Negros Island Region, dry spells, and the infestation of the red-striped soft scale insect (RSSI). Speaking on the sidelines of the Department of Agriculture’s budget hearing at the House of Representatives, SRA Administrator Pablo […]
Read more →BIR, BoC on pace to hit targets as of August
THE Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) are on track to meet their revenue targets this year, the Department of Finance said. Finance Undersecretary Rolando T. Ligon, Jr. said the agencies remained on track on their revenue goals as of the end of August. “The BoC has an excess of […]
Read more →NDC says access to Manila Golf by Roque ‘facilitates official functions’
THE National Development Co. (NDC) said its Manila Golf and Country Club (MGCC) membership is a state asset used by the Secretary of Trade and Industry to facilitate official functions. The company’s membership “facilitates the performance of official functions and may provide a venue for meetings and engagements with business leaders, investors, and other stakeholders […]
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