Philippines Business News

Legarda, son face Ombudsman probe

THE Office of the Ombudsman on Friday ordered the preliminary investigation of Sen. Loren Legarda, her son, Batangas Rep. Leandro Leviste, and former Energy secretary Alfonso Cusi in connection with more than P10 billion worth of solar projects. Ombudsman Jesus Crispin Remulla said his office will look into the alleged “Legarda-Leviste Solar Energy Network,” where the respondents allegedly conspired to secure exclusive government rights over the country’s solar energy resources

Carpio questions income tax records’ release

VICE President Sara Duterte’s husband, Manases Carpio, on Friday said the authorization allowing the release of their income tax records raises legal issues and called for a judicial review. President Ferdinand Marcos Jr. on Thursday directed the Bureau of Internal Revenue (BIR) to submit the income tax records of Duterte and Carpio to the Senate impeachment court. The court, which is trying the vice president, has issued subpoenas for the documents. Carpio said he and the vice president r

Transportation in the SONA

LAST Monday, July 27, 2026, President Ferdinand Marcos Jr. delivered his fifth and penultimate State of the Nation Address (SONA). The Move As One Coalition, in a recent social media post, summarized the key points made by the president related to transportation: “The transportation sector was discussed for 8 minutes and 32 seconds ... That's 10 percent of the total SONA delivery time. Among the topics mentioned were rail expansion, MRT and LRT projects, EDSA, financial assistance for tran

DTI welcomes EV incentive program

THE Department of Trade and Industry (DTI) on Friday welcomed Malacañang’s issuance of Executive Order 121, which establishes the Electric Vehicle Incentive Strategy (EVIS) program. The program provides time-bound, performance-based fiscal support for the manufacture of hybrid and battery EVs — particularly passenger cars, commercial vehicles, and their parts and components. Trade Secretary Cristina Roque called it a landmark policy that strengthens the Philippines’ posi

Lacson doubts Cayetano’s sincerity in seeking ‘ceasefire’

SEN. Panfilo Lacson on Friday questioned former Senate president Alan Peter Cayetano’s sincerity in seeking a ceasefire in their word war over alleged anomalous infrastructure projects in Taguig City. Lacson said Cayetano approached at least five senators from the majority bloc beginning last week to relay his request for a truce. This week, Cayetano reportedly sought the help of one more senator to convey the same message. “Where is your sincerity when you offer a ceasefire, then de

PEZA lauds lifting of IT center moratorium in NCR

THE Philippine Economic Zone Authority (PEZA) has lauded the lifting of the moratorium on new information technology (IT) park and center applications in Metro Manila through Administrative Order 45, series of 2025, which amends AO 18, series of 2019. PEZA Director General Tereso Panga said the amendment resolves a long-standing policy restraint, enabling the agency to respond more effectively to the evolving needs of the IT-BPM industry while opening opportunities for property developers. &ldqu

Sandiganbayan grants Revilla bail

THE Sandiganbayan Third Division on Friday granted the bail application of former senator Ramon Revilla Jr. in the malversation case stemming from the P92.8-million ghost flood control project in Bulacan. In a resolution promulgated on July 31, the anti-graft court ordered Revilla’s provisional release after ruling that the prosecution failed to establish strong evidence of guilt. The Sandiganbayan denied the bail applications of Revilla’s co-accused — engineers Brice Ericson D

DA upgrades digital surveillance of PH waters

THE Department of Agriculture (DA) on Friday said it is upgrading its digital surveillance of Philippine waters to protect fisheries and guard against agricultural smuggling. On July 27, Agriculture Secretary Francisco Tiu Laurel Jr., and Bureau of Fisheries and Aquatic Resources Director Elizer Salilig formally turned over Vessel Monitoring System workstations to National Maritime Center Director VAdm. Allen Dalangin of the Philippine Coast Guard.The workstations allow authorities to track the

Pag-IBIG once again earns COA recognition

FOR its fair and transparent presentation of its financial statements, the Home Development Mutual Fund, or the Pag-IBIG Fund, has once again earned the Commission on Audit’s (COA) unmodified opinion, achieving the state auditors’ highest opinion for the 14th successive year. Both Housing Secretary Jose Ramon Aliling and Pag-IBIG CEO Marilene Acosta on Friday welcomed the latest recognition, saying it was the result of the agency’s upholding the highest standards of integrity,

Enhancing trust in women-led businesses

WALK into a public market or a small neighborhood shop, and the people running it are usually women. This is not incidental. It is the architecture of entrepreneurship in the Philippines. Yet, for all the ground that women have claimed as business owners, the systems meant to support them have not kept pace with their growth. The numbers bear this out. A 2021 report found that 66 percent of micro, small and medium enterprises (MSMEs) in Southeast Asia are women-owned. Financial inclusion, too, l

Health secretary faces complaint for gambling

A COMPLAINT was filed with the Presidential Complaint Center on Friday against Health Secretary Brix Pujalte for allegedly gambling at major casinos. The complaint, filed by a group of “concerned citizens,” claims that Pujalte was seen gambling at Okada Manila, and Solaire Resort and Casino, using the aliases “Louis Santos” and “Louiss Santos” to avoid public recognition. The group said Pujalte has violated Presidential Decree 1869, which bans government offic

El Salvador eyes stronger trade ties with PH

EL Salvador is looking to strengthen trade and investment ties with the Philippines as it promotes itself as an emerging hub for tourism, technology and infrastructure. During the “Treasures of El Salvador” business roundtable luncheon hosted by the German Club Veranda in Makati City on Thursday, Salvadoran Ambassador to South Korea Federico Miguel Guerrero Avendaño, who is concurrently accredited to the Philippines, met with Philippine business leaders to discuss expanding bi

Metrobank net profit steady at P24.9B in H1

METROPOLITAN Bank & Trust Co. (Metrobank) on Friday reported steady earnings in the first half (H1) despite a challenging operating environment that had the bank setting aside more funds to cushion potential credit risks. The ender posted a net income of P24.9 billion for the January-to-June period, up slightly from the P24.8 billion booked a year earlier and said to have been supported by sustained loan growth and stable margins.“The operating environment remained challenging in the first

Security threats intensify in Bangsamoro region

A PEACE and conflict monitoring group has recorded 229 conflict incidents and 85 deaths in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) since the filing of certificates of candidacy began in May, warning that violence could intensify as the campaign period opens for the region’s first parliamentary elections in September. In a report released on Friday, Climate Conflict Action Asia (CCAA) said the convergence of the BARMM parliamentary elections and the barangay (village) an

‘Govt open to dialogue with CPP-NPA’

THE Office of the Presidential Adviser on Peace, Reconciliation and Unity (Opapru) said Friday that the government remains open to negotiation with the Communist Party of the Philippines-New People’s Army-National Democratic Front (CPP-NPA-NDF) and other rebel groups. “The government is open to anyone for dialogue,” Presidential Peace Adviser Secretary Mel Senen Sarmiento said during a press conference in Pasig City. ​He noted that negotiation remains an option as long as there

PHO defends medical staff amid claims of negligence

CEBU CITY — The Cebu Provincial Health Office (PHO) defended the emergency response of the Badian District Hospital after the family of an 18-year-old motorcycle crash victim accused medical personnel of failing to provide adequate care and delaying his transfer to another facility. The victim, identified as Philip Josh Velvestre, was brought to the hospital’s emergency room at around 4 a.m. on July 26 after figuring in a road crash in Badian earlier that morning. He was later transf

SHORTED CIRCUIT

Bank loan growth eases to 4-month low in June

Credit growth slowed sharply in June as businesses and households turned more cautious about taking on new debt amid lingering economic uncertainties.

Businesses shake off pessimism in June

Business confidence recovered to neutral territory in June after three straight months of pessimism, as lower energy costs and stronger consumer spending improved firms’ outlook, according to the Bangko Sentral ng Pilipinas.

Charo Santos-Concio likely returning to ABS-CBN boardroom

Veteran producer Maria Rosario “Charo” Santos-Concio is up for election again as board director of media giant ABS-CBN Corp., hoping she can help turn the company around.

DoubleDragon eyes REIT listing in Singapore

DoubleDragon Corp., the listed company chaired by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, intends to join Singapore’s real estate investment trust (REIT) landscape with the listing of a SGD 300-million company.

‘Inflation to remain well above target’

Inflation could either ease or accelerate in July from the previous month, but is expected to remain well above the government’s target as elevated fuel and electricity costs and a weaker peso continue to put pressure on consumer prices.

Metrobank H1 profit inches up to P24.9 billion

Metropolitan Bank and Trust Co. (Metrobank) saw its earnings remain broadly steady in the first half as stronger interest income was partly offset by weaker trading gains and higher provisions for potential credit losses.

MGEN commits P20.3 million for community programs

Meralco PowerGen Corp. and One Meralco Foundation have formalized a P20.3-million commitment to support community development programs across Luzon and Visayas.