Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
1859 articles from BusinessWorld
MPIC hesitant on MRT-3 O&M bid
METRO PACIFIC Investments Corp. (MPIC) is hesitant to join the government’s bidding for the operations and maintenance (O&M) contract of Metro Rail Transit Line 3 (MRT-3), as losses from its existing railway business weigh on its appetite for another rail concession. “It is hard to propose to the board because we already have [LRT-1]. Why […]
Read more →Poet and essayist Marra Lanot, 82
MARRA PL. LANOT, known for her works in Filipino, English, and Spanish across poetry, essays, and journalism, passed away at the age of 82 on Aug. 16 after a prolonged hospital confinement, announced her family in a statement. “She will always be remembered for her kindness, generosity, and sheer love for life. If she loved […]
Read more →BSP mulls tighter ‘fit and proper’ rules for banks
THE BANGKO SENTRAL ng Pilipinas (BSP) is looking to amend corporate governance guidelines for its supervised financial institutions (BSFIs) to monitor directors’ and officers’ integrity and competence through enhanced and routine evaluation. A draft circular showed the BSP wants at least an annual “fit and proper” assessment of banks’ and other financial institutions’ executives. The […]
Read more →Strong corporate demand seen for arena premium suites
SM PRIME Holdings, Inc. said it is seeing strong demand for its Premier Suites following a July 9 trade launch, building on the offering’s presence at the SM Mall of Asia Arena and its expansion to the SM Seaside Cebu Arena. “Premium suites have become a popular feature at leading sports and entertainment venues worldwide […]
Read more →The impact of artificial intelligence on the youth: The role of parents
It is obvious that parents have the primary responsibility of protecting their children from the potential harm that artificial intelligence or AI can inflict on the youth.
Read more →EastWest Bank sees credit costs staying elevated
EAST WEST Banking Corp. (EastWest Bank) expects credit costs to stay elevated for the rest of the year due to challenging economic conditions, and as its consumer loan book continues to mature. “The current macroeconomic environment is affected by not just global, but also, more importantly, domestic factors… We’re also going through a seasoning process, […]
Read more →Two LPAs, tropical depression monitored as southwest monsoon persists
Two low-pressure areas (LPAs) and a tropical depression are being monitored as the southwest monsoon continues to threaten Luzon and Visayas, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) on Tuesday. Both of the LPAs have a high chance of developing into a tropical depression within the next 24 hours, PAGASA said […]
Read more →Xsolla seeks to help Philippine indie studios go global
Global video game commerce company Xsolla is seeking to help Philippine indie game developers move beyond the domestic market and build globally competitive studios as interest in game development continues to grow in the country. Xsolla head of partnerships in the Asia Pacific Eric M. Lee said the Philippines already has the creativity, technical skills […]
Read more →Habagat forecast holds as heavy rains flood Metro Manila
The Southwest Monsoon, or Habagat, continues to bring heavy rains over Metro Manila and parts of Luzon, with flooding reported across several areas of the capital as rainfall intensified on Monday. The situation also highlights the importance of understanding PAGASA’s color-coded rainfall warnings, which are meant to guide communities on when to stay informed, prepare […]
Read more →Mag-iina wins Best Picture at 22nd Cinemalaya
The psychological horror film Mag-iina, took home the trophy for Best Film at the 22nd Cinemalaya Philippine Independent Film Festival during the awards ceremony on Aug. 17 at the Shangri-La Plaza, one of six awards it won that night. Directed by Giancarlo Abrahan and written by Guelan Varela Luarca, the film follows three generations of […]
Read more →Two individuals dead in Zamboanga school shooting
The Ateneo de Zamboanga University (AdZU) confirmed that two individuals were dead following the school shooting on its campus on Tuesday morning. “We are in the process of working with the police for us to be able to identify them so that we can communicate first to their loved ones,” AdZU President Guillrey Anthony “Ernald” […]
Read more →Solora Philippines: Building premium glamping destinations under ZK Summit Holdings, Inc.
Solora Philippines is helping reshape the country’s outdoor hospitality industry by enabling landowners, resort developers, and tourism entrepreneurs to create premium glamping destinations without immediately constructing a full-scale hotel. The brand operates under ZK Summit Holdings, Inc., a Philippine group of companies founded by Dr. Mary Cruz and Mr. Khelvin P. Cruz, CPA. Solora is also a sister […]
Read more →Over 400,000 land titles distributed: DAR Chief vows to complete the work by 2027
The Department of Agrarian Reform (DAR) has distributed more than 400,000 land titles covering over 500,000 hectares to agrarian reform beneficiaries over the past four years, DAR Secretary Conrado M. Estrella III confirmed following President Ferdinand R. Marcos, Jr.’s State of the Nation Address. The President has directed the DAR to complete the distribution of […]
Read more →Financial inclusion at the community level: GCash lending arm Fuse supports MSME growth with accessible loans
The presence of sari-sari stores, carinderias, coffee shops, and laundromats in a neighborhood is a testament to the entrepreneurial spirit of Filipino communities, reflecting their determination to create opportunities, earn a living, and support their families through small businesses. MSMEs make up 99.6% of all registered businesses in the Philippines and employ about 63% of […]
Read more →PAGASA monitoring two LPAs; monsoon rains to still drench Luzon, Visayas
Two low-pressure areas (LPAs) are being monitored, and both have a likelihood of developing into tropical cyclones, as the southwest monsoon continues to batter Luzon and Visayas, according to the state weather bureau on Tuesday. The LPA inside the Philippine Area of Responsibility (PAR) was spotted 1,115 kilometers East of Northern Luzon, the Philippine Atmospheric, […]
Read more →Cash remittances up 1.7% in June, slowest in over 4 years
CASH REMITTANCES from Filipinos abroad expanded at its slowest pace in over four years in June even as the monthly level reached a six-month high, Bangko Sentral ng Pilipinas (BSP) data showed.
Read more →BSP says it can still take monetary action amid looming inflation risks
THE Bangko Sentral ng Pilipinas (BSP) left the door open for further monetary policy action as broadening price pressures are expected to keep inflation elevated in the near term, delaying its return to target until 2028.
Read more →Budget deficit seen narrowing in second half of 2026 — DoF
THE NATIONAL Government’s budget deficit is expected to narrow slightly to 5.44% of gross domestic product (GDP) in the second half, which would bring the full-year ratio to its lowest since 2022, the Department of Finance (DoF) said. “In the first half, our deficit-to-GDP ratio improved to 5.46%, compared with 5.65% in the same period […]
Read more →High inflation threatens Philippines’ poverty reduction gains
PERSISTENTLY high inflation could reverse the Philippines’ recent gains in poverty reduction by eroding the purchasing power of poor and low-income households, the Department of Economy, Planning, and Development (DEPDev) said.
Read more →PSE sees P203.4-B capital raising as two IPOs remain
THE Philippine Stock Exchange (PSE) expects capital raising through the equities market to reach about P203.4 billion this year, with two initial public offerings (IPOs) still expected before yearend, PSE President and Chief Executive Officer Ramon S. Monzon said.
Read more →FPH turns down KKR bid for First Gen stake over valuation
LOPEZ-LED First Philippine Holdings Corp. (FPH) has rejected an offer from global investment firm Kohlberg Kravis Roberts & Co. L.P. (KKR) to acquire part of its stake in First Gen Corp., saying the proposal undervalues the power producer. “After careful deliberation and consideration, FPH has determined that KKR’s proposal does not represent [First Gen’s] true […]
Read more →Ang: SMC to focus on cost discipline, efficiency amid market pressures
SAN MIGUEL CORP. (SMC) will focus on cost discipline and improving efficiency as it navigates continued market pressures, Chairman and Chief Executive Officer Ramon S. Ang said. “We will stay disciplined on costs, continue improving efficiency, and invest in areas that support our long-term growth and the country’s broader economic development,” Mr. Ang said in […]
Read more →DoubleDragon to open 13 properties, outlets in 2nd half as core profit surges
DOUBLEDRAGON CORP. is set to open 13 malls, warehouses, supermarkets, and hotels in the second half as its core net income surged 161.89% in the first six months of the year. The property company will open three additional CityMall community malls, two CentralHub warehouse complexes, five full-sized MerryMart supermarkets and three Hotel101 properties in Davao, […]
Read more →