Philippines Business News

Trump to halt Iran strikes once parameters for ending war are met

CAIRO — US President Donald Trump said in a Saturday evening social media post he will order American forces to hold off on new strikes against Iran, claiming Mideast allies had reached the parameters of a deal to end the five-month old war. The emerging deal “would include the Immediate, Complete, and Total OPENING OF THE HORMUZ STRAIT, and an end to Iran’s nuclear threat,” Trump wrote on Truth Social. “Based on this request, I have agreed, for the future benefit o

Peru probes crash of tourist plane that killed 13

LIMA, Peru — Peruvian authorities said Sunday they are investigating the crash of a small plane carrying tourists to view the famous Nazca Lines, which killed all 13 people on board. Seven Italians, two Germans and two Spaniards died, along with two Peruvian crew members, when their Cessna 208 Caravan aircraft crashed Saturday after it took off from the airport in Pisco, located about 240 kilometers (150 miles) south of the capital Lima. A grim recovery process carried on overnight, with p

Airtripmaker Enhances Access to Flights to India from USA for Travelers seeking Economy and Business Class air tickets with Expanded Route Coverage Options to Delhi, Mumbai, Chennai, Hyderabad, Bangalore, Ahmedabad, Kolkata, Cochin & More.

Airtripmaker is expanding its U.S travel platform by introducing enhanced coverage for Indian destinations, including Delhi, Mumbai, Chennai, Hyderabad, Bangalore, Ahmedabad, Kolkata, Cochin, Trivandrum, Goa, Pune, Jaipur, Jodhpur, Calicut, Vadodara, Amritsar, Chandigarh, Jammu, Srinagar, Kashmir, Punjab and more. Germantown, Maryland, Aug. 02, 2026 (GLOBE NEWSWIRE) -- Airtripmaker, a fast-growing global flight booking platform, today announced an expanded focus on USA to India Flights, strength

Tulfo urges electric firms to cooperate on system loss charge removal

MANILA, Philippines — Sen. Erwin Tulfo on Sunday urged electric companies to cooperate in removing system loss charges from the electric bills, saying that it is unfair to make consumers pay for electricity they never used. Tulfo, chariman of the Senate Committee on Energy, said that electric companies are gaining billions in profit because they charge system losses to the public, while consumers suffer from poverty. “Where is the concept of social responsibility in all of these? The

Small blaze hits House contractor storage facility; no injuries reported

MANILA, Philippines — A small fires broke out a contractor’s storage facility inside the House of Representatives compound on Sunday morning but was swiftly contained. No casualties or injuries were reported from the incident that started around 9:30 a.m. According to the Office of the Secretary General, personnel from the House of Representatives Fire Unit and the Bureau of Fire Protection (BFP) responded immediately and declared the fire out at 9:57 a.m. Initial assessment showed d

Nation building where it matters

Nation-building is often associated with highways, bridges and airports. But the institutions that sustain economic growth are just as important. They attract investments, provide financial security, develop skilled workers, improve healthcare, expand housing and strengthen food security. Several government agencies continue to demonstrate how these responsibilities work together. The Philippine Economic Zone Authority (PEZA) is bringing investments and jobs into the country. The Government Serv

InstantProspector Exits Beta, Launching the First White-Label Go-To-Market Intelligence Platform for Digital Marketing Agencies

Founder, Lane Houk, announces industry first GTM prospecting and sales platform developed for the digital marketing industry and agency owners who don't have a repeatable system for prospecting, outreach and sales. Bigfork, Montana, Aug. 02, 2026 (GLOBE NEWSWIRE) -- InstantProspector™ officially announces its launch out of beta today, introducing a comprehensive, white-label Go-To-Market (GTM) intelligence platform designed exclusively for digital marketing agencies. The platform addresses one o

Q2 growth likely slowed to 2.8% — poll

THE PHILIPPINE ECONOMY likely expanded at a slower pace year on year in the second quarter, as elevated inflation weighed on household spending while weak business confidence and sluggish public infrastructure spending dampened economic activity.

Poll: Philippine inflation steady at 6.4% in July

PHILIPPINE headline inflation likely held steady in July as lower food prices, particularly rice, offset higher fuel and electricity costs, analysts said.

BSP to crack down on online lenders’ unfair debt collection practices

THE BANGKO SENTRAL ng Pilipinas (BSP) will enforce tight regulations against unfair debt collection practices of online lenders once it gains full oversight of the sector, an official said.

ERC orders P9.5-B refund for Meralco customers

CUSTOMERS of Manila Electric Co. (Meralco) may soon get some relief from high electricity prices as the Energy Regulatory Commission (ERC) approved the implementation of a P9.5-billion refund. In a 28-page decision promulgated July 31, the ERC directed Meralco to refund the equivalent rate of P0.3448 per kilowatt-hour (kWh) within six months as a separate […]

COA auditors next to testify

TWO Commission on Audit (COA) auditors are scheduled to testify on alleged anomalies in Vice President Sara Duterte’s fund disbursements on Monday, the 11th day of her impeachment trial. The Senate impeachment court granted the House prosecution’s request to summon former Intelligence and Confidential Funds Audit Office (Icfao) state auditor Roderick Wamil and Icfao Supervising Auditor Celine May Del Campo as its next witnesses. Director Marivic Pareja of the House of Representatives

PDP-Laban blasts probe of Legarda, son

THE Partido Demokratiko Pilipino (PDP) on Sunday denounced the graft and plunder complaints filed against Sen. Loren Legarda, her son, Batangas Rep. Leandro Leviste, and former Energy secretary Alfonso Cusi, calling the allegations “an obvious attempt to weaken the legitimate opposition.” PDP-Laban spokesman Ferdinand Topacio issued the statement after Ombudsman Jesus Crispin Remulla said his office was initiating a preliminary investigation involving Legarda, Leviste and Cusi for al

Analysts: Q2 growth likely slowed to 2.6%

ECONOMIC growth could have slowed further in the second quarter due to the inflationary impact of the war in the Middle East and the continued fallout of last year’s massive flood control project scandal. The median forecast in a Manila Times poll of economists was 2.6 percent, lower than the 2.8 percent seen in the first three months of 2026 and the 5.4 posted a year earlier. It is also well below the government’s downwardly revised 3.5- to 4.5-percent target for the year. Second-qu

Eala stuns Osaka to reach Mubadala D.C. Open final

FILIPINO tennis ace Alexandra “Alex” Eala ousted former world No. 1 Naomi Osaka of Japan, 6-4, 6-2, to reach her first 500 WTA Tour final at the Mubadala D.C. Open at the William H.G. FitzGerald Tennis Center Stadium Court in Washington Sunday morning in Manila. Eala racked up three straight games, including a service hold, to finish the semifinal encounter against the 4-time major champion in 1 hour and 16 minutes, much to the delight of the Filipino-dominated crowd. “I’

Inflation, GDP results to set tone for stocks

INVESTORS are expected to take their cues from key economic releases this week, with July inflation and second-quarter gross domestic product (GDP) figures likely to determine the stock market’s near-term direction amid the continuing earnings season. The benchmark Philippine Stock Exchange index (PSEi) ended July on a weak note, slipping 0.71 percent week on week to 6,236.44, as cautious sentiment and declines in index heavyweights offset gains in mining and oil shares. Foreign investors,

Lacson may take up Cayetano’s offer to ‘visit’ Taguig

SEN. Panfilo Lacson on Sunday said he is considering visiting Taguig City, the political bailiwick of Senate Minority Leader Alan Peter Cayetano, but only after the city’s flood control program is properly implemented and rid of corruption. In a recent Facebook Live broadcast, Cayetano “invited” Lacson to visit Taguig and personally see the infrastructure projects there — even after he and his team gathered evidence about the anomalies. Lacson said in jest he does not wan

Trump says Iran negotiations to begin on Monday, Hormuz deal ‘imminent’

ERC to Meralco: Refund P9.51 billion to customers

THE Energy Regulatory Commission (ERC) has ordered Manila Electric Co. (Meralco) to refund P9.51 billion to its consumers as a result of overrecovery of rates, higher than the distribution utility’s proposed P9.010 billion. In its decision released on Sunday, the ERC directed Meralco to refund the total amount of P9,506,566,556.00 or an equivalent average refund rate of P0.3448 per kilowatt-hour (kWh), because of overrecoveries for the period of January and December in 2025. The refund wil

Bong Go calls for swift passage of Epira reforms

SEN. Bong Go called for the swift passage of proposed reforms to the country’s power sector, saying measures aimed at lowering electricity costs should result in tangible savings for ordinary households and not remain mere promises. “I hope the promise of easing electricity costs will not remain just a promise. What matters is that every Filipino family feels genuine relief in their monthly electricity bills,” Go said in a statement. He said every peso saved on electricity expe

Inflation expected to have hit 6.3%

INFLATION is expected to have eased for a third straight month in July as lower food prices offset higher power rates and despite a surge in diesel prices. The median forecast in a Manila Times poll of economists was 6.3 percent, slightly lower than the 6.4 percent recorded in June and within the 5.6- to 6.6-percent estimate issued by the Bangko Sentral ng Pilipinas (BSP) last Friday. The Philippine Statistics Authority is scheduled to release official July inflation data this Wednesday, Aug. 5.

Maharlika Fund not keen in AI investments

MAHARLIKA Investment Corp. (MIC) is not keen on directly investing in artificial intelligence (AI) companies, with its top official saying that the operator of the country’s sovereign wealth fund lacked the capital and expertise. “Are we investing in AI? ... the answer is no,” President and CEO Rafael Consing Jr. told reporters last week. “We’re not investing AI as a business. But what we’re going to do is, we are hoping that the investees would invest in AI t

‘Protection of seafarers govt priority’

THE promotion and protection of seafarers’ rights remains a foreign-policy priority, the Department of Foreign Affairs (DFA) said over the weekend. The DFA said Filipino seafarers comprise about "one-fourth of the global seafaring workforce and make an indispensable contribution to international shipping, trade and global supply chains." "They often work far from the protection and support of their home countries, underscoring the need for effective international cooperation during armed c

PRA expands poverty reduction, community devt programs

THE Philippine Reclamation Authority (PRA) is expanding its poverty reduction and community development programs after reporting a sharp increase in its assets and revenues, allowing the state-run corporation to significantly increase funding for scholarships, livelihood projects and other corporate social responsibility (CSR) initiatives. Speaking at a media forum in Manila, PRA Chairman Alexander Lopez said the agency is transitioning from being primarily a revenue-generating government-owned