Philippines Business News

Magnitude International Ltd. Notified of Anticipated Delisting from The Nasdaq Stock Market

NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market (Nasdaq: NDAQ) announced today that it has notified Magnitude International Ltd. (Nasdaq: MAGH) that its securities will be delisted from the Nasdaq Stock Market LLC on August 12, 2026, unless the company appeals to a Listing Qualifications Hearings Panel. The securities will remain halted, and unavailable to trade, until any appeal is resolved. Following removal from Nasdaq the securities may be eligible for trading in the over

Trump says Iran facing 'last chance before decapitation'

WASHINGTON — US President Donald Trump said Monday that negotiations with Iran were ongoing despite Tehran's denials and the Islamic Republic was facing a "last chance before decapitation." Trump, speaking to reporters at the White House, said he agreed to continue to pursue talks with Iran at the request of Saudi Arabia, the United Arab Emirates, Qatar and other countries. Iran's foreign ministry denied on Monday that negotiations with Washington were taking place, but Trump insisted they

NCLA Tells SEC: Rescind and Admit SEC Never Had Authority for Climate-Disclosure Rules

Re: Rescission of Climate-Related Disclosure Rules Washington, D.C., Aug. 03, 2026 (GLOBE NEWSWIRE) -- The Securities and Exchange Commission proposes to rescind the rules it passed in 2024 that would require public companies to make extensive climate-related disclosures, including forward-looking estimates of business risks, reports of greenhouse-gas emissions, and descriptions of any steps a company takes to mitigate climate-related risks. The rules would force companies to guess what regulati

India plans tax cuts to boost foreign investment, Bloomberg reports

DoF proposes higher excise taxes

THE DEPARTMENT of Finance (DoF) is proposing a package of new and higher taxes on sweetened beverages, e-cigarettes, flexible plastic products, luxury vehicles and private aircraft to offset revenue losses from proposed personal income tax relief measures. At a briefing on Monday, DoF Undersecretary Karlo Fermin S. Adriano said these measures are part of the […]

Philippine manufacturing PMI hits 5-month high in July

PHILIPPINE manufacturing activity rose to a five-month high in July, as production and new orders grew at the fastest pace since February, S&P Global said.

World Bank keeps 2026 growth forecast unchanged

THE WORLD BANK kept its 2026 Philippine growth forecast but trimmed its 2027 projection as it expects external risks to weigh on economic activity until next year. In its Philippine Economic Update released on Monday, the multilateral lender maintained its 3.7% growth forecast, within the government’s 3.5%-4.5% target for this year. However, the World Bank […]

Weak consumption, public spending likely weighed on Q2 growth

TEPID CONSUMER and government spending likely slowed Philippine economic growth for a fourth consecutive quarter in the second quarter, analysts said.

ICTSI Q2 profit rises 21% on higher port revenues

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) posted a 21% increase in attributable net income for the second quarter (Q2), driven by higher revenues from port operations, as cargo volumes and contributions from new terminals boosted its performance. Attributable net income rose to $296.41 million for the April-to-June period from $244.88 million a year earlier, the […]

T-bill yields decline on Iran deal hopes

THE GOVERNMENT made a full award of the Treasury bills (T-bills) it offered on Monday with lower rates across the board on improved risk sentiment as tensions between the United States and Iran eased anew, which caused global oil prices to go down. The Bureau of the Treasury (BTr) raised P50 billion as planned from […]

ERC clears P8.7-billion Meralco cost recovery

THE Energy Regulatory Commission (ERC) has authorized Manila Electric Co. (Meralco) to recover P8.7 billion in previously uncollected pass-through costs from customers over three years. In a 51-page decision promulgated on July 31, the ERC allowed Meralco to recover under-collected generation, transmission, system loss, and real property tax charges covering the period from February 2011 […]

BPI expects profit rebound this semester

BANK of the Philippine Islands (BPI) expects its profit growth to rebound this semester, supported by the sustained expansion of its corporate loan book to offset pressures faced by its consumer and small business lending segments. “Typically, in any given year, we tend to see the second half perform a little better than the first […]

ABS-CBN denies report of management turnover to MVP-led MediaQuest

ABS-CBN CORP. on Monday denied a report that its management is being turned over to Manuel V. Pangilinan (MVP)-led MediaQuest Holdings, Inc., saying there are no discussions on such an arrangement. “This is not accurate. There are no discussions with Mr. Ramon S. Ang or Mr. Pangilinan on turning over the management of ABS-CBN to […]

Peso to stay above P60 until 2027 on dollar’s strength, weak growth

THE PESO will likely remain above the P60 level against the dollar until the end of 2027 as the country grapples with tight domestic economic conditions, and amid potential monetary policy easing once inflation pressures recede, Metropolitan Bank and Trust Co. (Metrobank) said. In a July 30 commentary, Metrobank research officer Sophia Therese Bonifacio said […]

AboitizPower breaks ground on 239-MWp Negros solar project

ABOITIZ POWER CORP. (AboitizPower) has broken ground on a 239-megawatt-peak (MWp) solar power project with a 65-megawatt (MW) battery energy storage system in Cadiz City, Negros Occidental, which it targets to energize by 2028. In a statement on Monday, the company said its renewable energy unit, Aboitiz Renewables, Inc., started construction of the Luna Solar […]

Singing trio elevates nightlife in QC

TEN MONTHS after the Quezon Club opened to add pizzazz to the urban sprawl of Quezon City (QC), the nightlife venue has undergone a relaunch, which includes the introduction of a singing group called The Sirens. Composed of Sheena Lee Palad, Crystal Paras, and Kris Atinen, The Sirens made their debut performance on July 31, […]

GCash to enable card-funded QR payments

ELECTRONIC WALLET giant GCash has partnered with Visa and Mastercard to enable the use of debit and credit cards to fund QR payments with the app. The new link-and-pay feature expected to be launched soon will allow users to complete QR transactions through the GCash app via their linked Visa cards, minimizing the need to […]

SMC completes P30-B follow-on offering with PSE listing

SAN MIGUEL CORP. (SMC) completed its P30-billion preferred share follow-on offering, the biggest such offering in seven years, with the listing of its Series 2V, 2W, and 2X preferred shares on the Philippine Stock Exchange (PSE) on Monday. The preferred shares are listed under the ticker symbols SMC2V, SMC2W, and SMC2X, carrying dividend rates of […]

On platforms for independent filmmaking

BECAUSE the Cinemalaya Independent Film Festival is known for nurturing up-and-coming filmmakers, it sees quite a number of returning directors in its main competition lineup each year. BusinessWorld spoke with three of them about what Philippine indie cinema is like today. For Ma-an L. Asuncion-Dagñalan, a director and screenwriter whose debut film Blue Room won […]

Independent directors and independent thinking

Independent directors are a cornerstone of good corporate governance. They are expected to provide objective oversight, challenge management when necessary, and safeguard the long-term interests of shareholders and stakeholders. Yet as governance practices evolve, an important question remains: Is independence enough? A director may satisfy all regulatory requirements for independence and still fail to exercise […]

Peso up on yen intervention, Middle East peace deal hopes

THE PESO surged back to the P60-per-dollar level on Monday after the Japanese yen recovered following joint intervention from Japanese and United States regulators, and amid easing tensions in the Middle East. The currency jumped by 31 centavos to close at P60.93 versus the greenback from its P61.24 finish on Friday, data from the Bankers […]

Jollibee opens downtown San Francisco store

JOLLIBEE Foods Corp. (JFC) has opened a new Jollibee store in downtown San Francisco, expanding its presence in the Bay Area as part of its North American growth strategy. Located at 934 Market Street near the Powell Street Bay Area Rapid Transit (BART) station, the new outlet expands the group’s network to more than 100 […]

Active spaces key to vertical urbanism

MODERN urban living has long relied on the concept of 15-minute cities to promote more sustainable lifestyles. The post-pandemic world has further accelerated the importance of health and wellness in people’s lives.

Payments Network of the Philippines elects 2026-2027 board

STOCKHOLDERS of Payments Network of the Philippines, Inc. (PNPI) have elected their 15-member board of directors for the 2026-2027 term, with BDO Unibank, Inc. President and Chief Executive Officer (CEO) Nestor V. Tan appointed as chairman. At a meeting held last Thursday, Metropolitan Bank & Trust Co. (Metrobank) President Fabian S. Dee was also elected […]