Philippines Business News

Dead body found in Paris canal popular with bathers: police

PARIS, France — French authorities have found a body of a man in a Paris canal that has been wildly popular with locals and tourists as a swimming spot to cool off in the early summer heatwave, police said. The body was found early Saturday in the Canal Saint-Martin in the north of the city centre whose banks have in recent weeks been thronged with bathers in the record temperatures. The man was brought to the surface by members of the fire brigade, police said. His body was very swollen,

F1 boss Domenicali hopes to restore cancelled Gulf grand prix

SILVERSTONE, United Kingdom — Formula 1 president Stefano Domenicali says he wants to restore to this season's calendar at least one of the two races in the Middle East which were cancelled because of the war in the region. The two rounds scheduled for Bahrain and Jeddah in April were scrapped following the attack by the USA and Israel on Iran which spilled over to all the Arab Gulf states. "If there is something that we can announce also related to the possibility of seeing if there is an

China, Russia to hold joint naval drills

CHINA — Beijing and Moscow announced Sunday they will hold their annual joint naval exercises off China's coast, with Russia saying the drills will begin Monday. The two countries have close economic and diplomatic ties, and their relations are strengthened by shared opposition to a global order dominated by Washington. The Chinese and Russian militaries have held regular joint exercises in recent years, a partnership that Western and some other governments view with suspicion as Moscow's

Spanish U20 rugby union player banned for seven matches

BRISBANE, Australia — A member of Spain's rugby union squad at the Under-20 World Cup has been banned for seven matches for "alleged racist verbal abuse" against another player, World Rugby said on Sunday. Mateo Aragon was cited after a complaint from France's coaching staff following remarks directed at opposing fly-half Luka Keletaona, when Les Blues won 57–32 in a pool match on Thursday in Kutaisi, Georgia. A three-member independent disciplinary panel did not give Aragon the full

NATO chief faces challenge at summit as Trump demands 'loyalty' and not just burden-sharing

ANKARA, Turkey — Since he started work as NATO secretary-general almost two years ago, Mark Rutte has spent much of his time trying to keep the United States anchored to the world’s biggest military alliance, employing outright flattery to dissuade U.S. President Donald Trump from acting on threats to abandon it. But the goalposts keep shifting, raising the stakes ahead of this week’s summit in Turkey. Initially, it was about money. Trump has long railed against NATO allies for

Heavy rains leave 5 dead in China's north while Tropical Storm Maysak hits the south and Vietnam

BEIJING — Heavy rains have left five people dead in northern China while a tropical storm toppled trees and submerged cars in the nation's south, state media reported Sunday. Two villagers died in a mountain flash flood Saturday evening in the eastern part of China's Inner Mongolia region, the official Xinhua News Agency said. One drowned while herding cattle and the other fell into water while driving a cattle herd away, the report said. Three other people died the same day in neighboring

June inflation likely eased for second month in a row — poll

PHILIPPINE INFLATION likely eased for a second straight month to a three-month low in June as lower oil and rice prices offset higher electricity rates, analysts said.

National Government’s debt service bill rises in May

THE NATIONAL GOVERNMENT’S (NG) debt service bill jumped by over 21% in May amid higher interest and amortization payments, the Bureau of the Treasury (BTr) said.

PSE’s capital-raising target hiked to P204B

THE PHILIPPINE Stock Exchange (PSE) expects companies to raise about P204 billion through the capital market in 2026, based on applications received so far, exceeding its initial target of P170 billion. At a media briefing on Saturday, PSE President and Chief Executive Officer Ramon S. Monzon said the revised forecast is backed by applications received […]

Philippine CEOs bullish on AI, but cite talent, infrastructure gaps — Deloitte

PHILIPPINE chief executive officers (CEOs) are confident in using artificial intelligence (AI) in major company decisions, but workforce readiness and infrastructure deficiencies remain key bottlenecks, according to advisory services firm Deloitte Philippines.

APECO pitches Malaysian investors on clean-energy, airport dev’t projects

THE Aurora Pacific Economic Zone and Freeport Authority (APECO) said it is soliciting clean energy and airport development investments from Malaysian firms. In a statement over the weekend, APECO said it will mount an investment mission to Malaysia on July 7-9. The mission will also gauge interest in seaport development, with APECO positioning itself as […]

Rockwell Leisure Club Inc. announces annual stockholders meeting

​VP impeachment trial begins today

THE Senate, sitting as impeachment court, starts today, July 6, the trial of Vice President Sara Duterte. Duterte, the first vice president to face an impeachment trial, faces four complaints. A conviction on any of the complaints will be enough to oust her. The trial will be held from Monday to Wednesday at 2 p.m. Senate President Sherwin Gatchalian on Sunday said Day 1 of the trial will focus on preliminaries, with the prosecution and defense panels giving their opening statements. Gatchalian

​Vice president should attend trial – Marcos​Vice president should attend trial – Marcos

VANCOUVER, Canada — President Ferdinand Marcos Jr. on Saturday (Sunday in Manila) said it would be better for Vice President Sara Duterte to attend her impeachment trial “to get to the bottom of everything.” Marcos made the statement after the Senate impeachment court summoned Duterte to appear for the start of the trial today, July 6. Speaking to reporters here, the president said that if he were Duterte, he would insist on attending the proceedings, since it would be “m

9 senator-judges are impeachment trial ‘veterans’

NINE senators who will serve as judges in the impeachment trial of Vice President Sara Duterte have participated in similar proceedings before. Senators Loren Legarda and Vicente Sotto III took part in the trial of then​-president Joseph Estrada from Dec. 7, 2000 to Jan. 16, 2001, and that of then-chief justice Renato Corona from Dec. 12, 2011 to May 29, 2012. Seven others were involved in the impeachment of Corona: Senators Alan Peter Cayetano, Pia Cayetano, Francis Escudero, Jinggoy Estrada, P

​Eala guns for Wimbledon quarterfinal spot ​Eala guns for Wimbledon quarterfinal spot vs Paolini

AIMING to extend her historic Wimbledon run to the quarterfinals, Filipino tennis ace Alexandra “Alex” Eala looks to repeat over Italian Jasmine Paolini in the fourth round at the All England Lawn Tennis and Croquet Club likely Monday evening in Manila.The specific court and time of the round of 16 match had not been revealed as of writing. World No. 32 Eala first faced No. 17 Paolini last February at the 1000 Dubai Tennis Championships, where the former took a 6-1, 7-6(5) win in the

Flood control scam probe continues

VANCOUVER, Canada — President Ferdinand Marcos Jr. on Saturday (Sunday in Manila) said that the government is not yet done ferreting out all those accountable in the flood control scandal. Marcos said the controversy may have started before his administration. He said that former president Rodrigo Duterte acknowledged that there were great problems in flood control but nothing happened. “Well, I cannot say that we have done enough because we are not done yet. Unfortunately, the more

Foxconn second-quarter revenue jumps, company cautions on geopolitics

TAIPEI — Taiwan’s Foxconn, the world’s largest contract electronics maker, reported a 39.8-percent year-on-year rise in second-quarter revenue that beat market forecasts on strong demand for artificial intelligence (AI) products, though it cautioned about “volatile” global politics. Revenue for Nvidia’s biggest server maker and Apple’s top iPhone assembler jumped to T$2.513 trillion ($78.71 billion) in the April-June quarter, Foxconn said in a statement

​‘Nonsense,’ Marcos says on calls for his ouster

VANCOUVER, Canada — President Ferdinand Marcos Jr. on Saturday (Sunday in Manila) dismissed as “nonsense” calls to oust him, insisting that it was he who exposed anomalies in flood control projects. In a media interview in Canada, Marcos said irregularities in flood control projects were only disclosed during his watch, noting that past presidents had failed to look into the issue that happened “beyond [his] administration.” “If I hadn’t said what I said

For one small business, AI was key to a quick start and expansion

WASHINGTON — Here Now Health isn’t an artificial intelligence (AI)-based company, but its quick path from an idea in founder Michelle Turner’s mind to an operating mental health platform for foster children relied deeply on the technology now restructuring the US economy. Working from her Virginia Beach home, she used AI tools to school herself in startup culture, create a business plan and fine-tune a presentation for early-stage investors. Funding began to flow, and the compa

Lowering of criminal age needs study – Marcos

VANCOUVER, Canada — President Ferdinand Marcos Jr. on Saturday (Sunday in Manila) said that the proposal to lower the minimum age of criminal responsibility should be carefully studied, saying that it may imply that "children have changed from before." Speaking to reporters, Marcos acknowledged that the youth are now living in a "different world," but it must be clear what triggers some children to sow violence. "I’m not saying that’s not the case. It’s possible. The worl

Market seen capable of absorbing Mynt, VITRO offerings

THE Philippine stock market appears capable of absorbing the planned offerings of Mynt, Inc. and VITRO, Inc., analysts said, while Philippine Stock Exchange (PSE) President and Chief Executive Officer Ramon S. Monzon said appropriately timing the transactions could help ease temporary funding pressures.

Meralco Q2 energy sales volume edges up on warmer weather

MANILA ELECTRIC Co. (Meralco) posted a slight increase in energy sales volume in the second quarter, driven mainly by warmer temperatures associated with the onset of El Niño. Initial data showed that energy sales volume rose by 0.6% year on year to 14,495 gigawatt-hours (GWh), Charina P. Padua, Meralco senior vice-president and head of customer […]

PHL auto sales rebound in May

EVEN WITH the US-Iran war in full swing last May, local auto sales registered a hefty rebound, per the consolidated report from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA). Versus April, total May sales hiked by 24% to reach 33,532 units. Factoring in non-CAMPI-TMA firms, total sales […]