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BusinessWorld
Marcos pushes tax breaks, reforms
PRESIDENT Ferdinand R. Marcos, Jr. on Monday asked Congress to pass a package of tax measures, including broader income tax exemptions for low- and middle-income earners and tax exemptions for micro, small, and medium enterprises, as he laid out his administration’s legislative priorities for the remainder of his term.
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Philippines to be 4th slowest-growing ASEAN economy this year — AMRO
THE PHILIPPINES could be Southeast Asia’s fourth slowest-growing economy this year despite limited spillovers from the Middle East conflict, as its heavy reliance on imported oil and weak investment climate continue to weigh on growth, the ASEAN+3 Macroeconomic Research Office (AMRO) said.
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Philippine banks’ assets hit new high P31 trillion
ASSETS held by Philippine banks hit a record high as it topped P31 trillion by the end of the first half, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. The combined assets of the local banking sector were valued at P31.128 trillion as of end-June, up 10.34% from P28.211 trillion in the same […]
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Philippines urged to resolve structural issues to draw more foreign investments
THE PHILIPPINES should address its mounting structural issues clouding investor sentiment to reposition itself as an attractive hub for foreign investments, GlobalSource Partners said. In an interview with BusinessWorld, GlobalSource Partners Principal Advisor Diwa C. Guinigundo said the country should heed the “wake-up call” from the recent foreign direct investment (FDI) slump by implementing structural […]
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Higher tax exemption seen easing inflation hitHigher tax exemption seen
PRESIDENT Ferdinand Marcos Jr.'s proposal to raise the annual income tax exemption threshold will provide relief to Filipinos dealing with high prices but at the same time pressure the government’s finances, analysts and economists said. In one of the highlights of his fifth State of the Nation Address (SONA) on Monday, Marcos urged Congress to pass a package of tax reforms that includes increasing the income tax exemption threshold from the current P250,000 to P350,000 annually. Former Fi
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Marcos cites looming cases vs Romualdez
PRESIDENT Ferdinand Marcos Jr. on Monday cited gains in prosecuting those responsible for massive corruption in government flood control projects, pointing to impending charges against his own cousin, former House speaker Martin Romualdez. In his penultimate State of the Nation Address (SONA), the president said the government would follow where the evidence would lead to unmask the mastermind behind the flood control bribery scandal that has rocked his administration. He noted that charges had
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Maynilad in, Converge out of benchmark stock index
THE Philippine Stock Exchange (PSE) has revised the composition of its benchmark and sector indices in its latest semiannual review, with Maynilad Water Services Inc. replacing Converge ICT Solutions Inc. in the 30-member Philippine Stock Exchange index (PSEi). The changes, based on trading activity from July 2025 to June 2026, will take effect before the start of trading on Aug. 3. PSE President and CEO Ramon Monzon said Maynilad became only the third company to qualify for early inclusion in t
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AMRO sees limited risk from US tariffs
THE Philippines and other countries in the region are unlikely to face significant risks from new US tariffs as businesses have already adjusted to prolonged trade uncertainty, the Asean+3 Macroeconomic Research Office (AMRO) said. "[W]e don't expect a major change in the way we think about the uncertainties of the US tariffs on the region," AMRO Chief Economist Dong He said during a press briefing on Monday. “The private sectors have adjusted or reconfigured their supply chains. So I thin
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Bomb goes off at DOJ; 2nd found near Senate
A HOMEMADE bomb detonated near the entrance of the Department of Justice (DOJ) central office on Padre Faura Street, Ermita, Manila. early on Monday, officials said, hours before a suspected unexploded device was found near the Senate. The explosion just after midnight, which resulted in no casualties, and the discovery of the second suspected bomb came hours before President Ferdinand Marcos Jr. was due to give an annual State of the Nation Address (SONA). Philippine National Police (PNP) chief
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Cayetanos, Legarda, Padilla, Imee skip president’s report
SOME members of the Senate minority bloc on Monday skipped President Ferdinand Marcos Jr.’s fifth State of the Nation Address (SONA) as part of their protest over the detention of Sens. Jinggoy Estrada and Rodante Marcoleta. Senate Minority Leader Alan Peter Cayetano, in an interview, said he would not attend the SONA as a “simple way of protesting.” “The minority have yet to talk but ... I prefer to just watch it on TV. That may be more comfortable for the administration
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Philippine banks posted a combined net profit of P208.39 billion in H1
PHILIPPINE banks posted a combined net profit of P208.39 billion as of end-June, supported by strong interest earnings despite losses from trading activities amid volatile financial markets. Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the banking system's net income reached P208.39 billion during the first six months of the year, nearly double the P104.82 billion recorded in the first quarter. The figures reflect the cumulative earnings of universal and commercial banks, t
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President, VP’s trust ratings drop – survey
PRESIDENT Ferdinand Marcos Jr. and Vice President Sara Duterte both saw their trust and performance ratings decline below the majority level in the latest Tugon ng Masa nationwide survey conducted by OCTA Research. The survey, conducted from July 4 to 11 among 1,200 adult Filipinos through face-to-face interviews, found Marcos’ trust rating dropping five percentage points to 49 percent from 54 percent in March, while satisfaction with his performance fell by eight points to 47 percent from
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The future of EV fleet management in the Philippines
THE Philippines is entering a new chapter in its electric mobility journey — one that will be shaped not only by growing electric vehicle (EV) adoption but by how effectively these vehicles are deployed and managed at scale. Recent global developments, including fuel price volatility, have accelerated interest in hybrid and electric vehicles among Filipino consumers. While overall vehicle sales softened in early 2026 (projected by the Chamber of Automotive Manufacturers of the Philippines
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Lacson digs up more cases of double billing in Taguig
MORE cases of double billing and collection involving infrastructure projects in Taguig City have been uncovered, Sen. Panfilo “Ping” Lacson said Monday. In a statement posted on his social media, Lacson said the additional projects also involved the “sharing” of photographs of anomalous infrastructure projects for billing and collection purposes. “TAGUIG GHOST INFRA PROJECTS UPDATE #5: Before some preacher dismisses ‘sharing photographs’ to bill and col
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Land Cruiser goes smaller with the FJ
TOYOTA Motor Philippines has started retail sales of the all-new Land Cruiser FJ, adding a smaller and less expensive model to one of its most recognizable SUV families. Priced from P2.235 million, the FJ becomes the most accessible model in Toyota’s local Land Cruiser range. It sits below the larger Land Cruiser Prado and LC300, although its pricing still places it among better-equipped midsize SUVs and pickup-based SUVs. The new model is offered in two variants: the Land Cruiser FJ 2.7L
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Raw sugar output falls 11%
RAW sugar production from mills fell 11 percent to 1,847,523 metric tons (MT) as of July 5, from 2,078,446 MT in the same period last year, the Sugar Regulatory Administration (SRA) said in its latest data. Total cane milled also dropped 11 percent to 23,073,917 MT from 25,931,263 MT a year earlier. Molasses production declined 7.34 percent to 1,080,049.45 MT in early July, from 1,165,627.78 MT in the same period last year. Domestic demand likewise softened, down 4.25 percent for raw sugar and 4
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Quezon, Palawan: Where 50,000 years of history await
MENTION Palawan and what immediately comes to mind is an island province that consistently ranks among the world’s best destinations. The province consists of around 1,780 islands and islets, stretching from the Calamianes Group in the north to the Balabac Group in the south and the Kalayaan Island Group in the West Philippine Sea. Its roughly 2,000 kilometers of irregular coastline are lined with rocky coves and white-sand beaches, including the kilometers-long beach of San Vicente and En
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Second regular session of 20th Congress opens
THE Senate and House of Representatives on Monday opened the second regular session of the 20th Congress, with priority bills and the 2027 national budget high on the agenda. Senate President Sherwin Gatchalian pounded the gavel in the session hall shortly past 10 a.m. with 20 other senators present. Sen. Camille Villar led the opening prayer, calling for wisdom, humility, unity and peace among lawmakers. Senators are expected to work overtime as an impeachment court while continuing their legis
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When what we say isn’t what we mean
MANY Filipinos have encountered this incident at least once. A friend of mine came home to Manila for a vacation after living overseas. His family and relatives showed up at the airport, all excited to see him. After his arrival, they went to a restaurant. My friend was eager to buy everyone food, so he asked for their orders. An aunt declined, saying she had just eaten and is still full. Puzzled, my friend asked her again, five times, what would she like to eat. She refused his offer. The food
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BDO first-half net profit slightly higher at P40.7B
BDO Unibank Inc. posted a slightly firmer net income of P40.7 billion in the first half from P40.6 billion a year earlier, driven by strong loan growth and higher operating income but tempered by increased provisions as a prudential measure against evolving risks. In a disclosure on Monday, the country's largest bank said the first-half performance reflected the continued strength and resilience of its core businesses, with a return on equity as of end-June of 12.7 percent. Strong operating mome
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Gas, diesel prices surge for 4th straight week
FUEL prices continued to surge for the fourth straight week as the world oil market reacted to developments in the Middle East and in Russia. The price of diesel and gasoline on Tuesday both rose by P6.80 per liter, and kerosene by P4.20 per liter. Local oil industry sources said global oil prices went up as supply shrank again due to the war in the Middle East, and constraints on Russian oil supply. Last week, oil companies increased fuel prices as diesel spiked by P8.20 per liter, gasoline by
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US, Iran pause strikes to give talks some space
TEHRAN — Iran and the United States held their fire Monday, handing Gulf shipping and the oil industry a respite from missile strikes as Donald Trump’s UN envoy said the president was “giving talks some space.” Tehran said it had halted retaliatory attacks against Washington’s allies in the Middle East, and US ambassador to the United Nations Mike Waltz told “Fox News Sunday” that, while forces remained “locked and loaded,” Trump would give n
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Would you wear a helmet?
TEACHER-rider had no helmet. No helmet had he. He rode this way. He rode that way. He rode through traffic anyway. The law said, “Wear a helmet every single day.” Teacher-rider understood the law but said, “Yes, but not today.” Would you? Could you? Should you wear a helmet? “Not today will I wear a helmet. No, not today.” Then Go said, “Stop right there.” “No helmet here? No helmet there? No helmet anywhere?” Teacher-rider smiled and r
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