Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
1860 articles from BusinessWorld
Peso tumbles as Middle East peace talks hit deadlock
THE PESO tumbled against the dollar on Thursday due to fading hopes for a peace deal between the United States and Iran as both sides remain at an impasse. The currency weakened by 16.3 centavos to close at P61.343 versus the greenback from its P61.18 finish on Wednesday, data from the Bankers Association of the […]
Read more →Ballet superstars from Russia return to Aliw stage
TWO of the world’s most celebrated ballet dancers are back in Manila for the staging of the timeless classic, La Bayadère, at the Aliw Theater. For three days, from Aug. 14 to 16, renowned ballet superstars Renata Shakirova and Kimin Kim will headline the show. Ballet Manila’s artistic director Lisa Macuja-Elizalde said at an Aug. […]
Read more →Upson Q2 profit climbs 47.4% on higher sales
LISTED information technology and electronics retailer Upson International Corp. posted a 47.4% increase in second-quarter (Q2) attributable net income to P110.4 million from P74.9 million a year earlier, as higher sales and improved margins lifted earnings. Gross revenue rose 11.45% to P3.28 billion from P2.95 billion, while gross expenses increased 9.39% to P3.17 billion from […]
Read more →Wise Philippines looks to leverage demand for low-cost foreign transfers
WISE is looking to expand its presence in the Philippines to leverage demand for remittance services and as it looks to help lower international transfer costs for Filipinos. “Personally, what I would like to have in the next three years is for more Filipinos to be familiar with the power of the Wise account — […]
Read more →Cinemalaya 2026 Pocket Reviews: On systems that inflict pain
By Brontë H. Lacsamana, Reporter THE 22nd edition of Cinemalaya is approaching its last few days, and BusinessWorld has watched six of the nine full-length films in competition. Cinemas at select malls in Metro Manila — Shangri-La, Gateway, and Ayala Malls (Manila Bay, Market! Market!, Glorietta, Circuit, and Trinoma) — are currently screening some of […]
Read more →US sees ‘further progress’ in defense ties with Philippines, says war usec
THE US expects further advances in defense cooperation with the Philippines following recent discussions between President Ferdinand R. Marcos, Jr., and US officials, including Undersecretary of War Elbridge A. Colby. Mr. Colby said Washington had made significant progress in its defense relationship with Manila over the past 18 months and expects cooperation to deepen following […]
Read more →No ‘leadership fund’ in 2027 budget — Ejercito
THE head of the Senate Finance Committee on Thursday said he would not allow “leadership funds” or last-minute budget insertions in the 2027 national budget, following the testimony of a former Public Works secretary that P24 billion had been earmarked for lawmakers in 2024. Senator Joseph Victor “JV” G. Ejercito, who heads the committee, said […]
Read more →Teodoro calls China’s move vs 100 Filipinos ‘blackmail’
PHILIPPINE Defense Secretary Gilberto C. Teodoro, Jr. on Thursday accused China of “blackmail” after Beijing said it had taken measures against more than 100 Filipinos over alleged illegal employment and residence, calling the move an attempt to interfere in Philippine law enforcement. “The action against 100 Filipinos is plain and simple extortion and blackmail,” Mr. […]
Read more →Ex-NLDC execs’ graft cases junked over delay
THE Sandiganbayan has dismissed graft cases against two former officials of the now-dissolved National Livelihood Development Corp. (NLDC) over the alleged misuse of P2.91 million in priority development assistance fund (PDAF), ruling that the Ombudsman’s delay violated their constitutional right to speedy disposition of cases. In a joint resolution promulgated on Aug. 7, the anti-graft […]
Read more →Hunger dips among beneficiaries
INVOLUNTARY hunger among Filipino families enrolled in the government’s flagship anti-hunger program dropped over a three-month period, the Department of Social Welfare and Development (DSWD) said on Thursday. At a Palace news briefing, Social Welfare Secretary Rexlon T. Gatchalian, citing a Social Weather Stations (SWS) survey commissioned by Globe Telecom, said hunger incidence among participants […]
Read more →Prosecution urges fair VP trial
THE House of Representatives prosecution panel on Thursday called for the Senate impeachment court to apply its rules fairly to both the prosecution and defense teams, as lawmakers flag what they described as attacks on the integrity of the impeachment proceedings. During a press briefing, Party-list Rep. and prosecution spokesperson Renee Louise M. Co said […]
Read more →VP Duterte asks QC court to quash grave threat charges
VICE-PRESIDENT (VP) Sara Duterte-Carpio has asked a Quezon City court to quash the grave threats case filed against her, the Department of Justice (DoJ) confirmed on Thursday, saying her status as an impeachable officer does not bar the filing of a criminal case before the Regional Trial Court (RTC). Prosecutor General Richard Anthony D. Fadullon […]
Read more →Marcos presses faster Sangley dev’t
PRESIDENT Ferdinand R. Marcos, Jr. has ordered the creation of a Joint Technical Working Group to fast-track the development of the Sangley Point International Airport (SPIA) in Cavite and cut red tape. Co-chaired by the Department of Transportation and the Philippine Reclamation Authority, the group is tasked with addressing project delays and ensuring reclamation activities […]
Read more →Meralco, PNP fight electricity theft
MANILA ELECTRIC Co. (Meralco) and the Philippine National Police (PNP) have partnered to address electricity theft and pilferage of electrical distribution facilities and materials. The two parties reaffirmed their mutual commitment in a recent meeting, attended by PCOL. Joseph Adelbert A. Aliño, PCOL. Laudemer N. Llaneta, PBGEN. Manuel J. Abrugena, Meralco Senior Vice-President and Head […]
Read more →DoJ begins review of US extradition request for Quiboloy
THE Department of Justice (DoJ) is now reviewing the United States’ request for the extradition of Kingdom of Jesus Christ founder Pastor Apollo C. Quiboloy and two other respondents, after receiving the formal request from the Department of Foreign Affairs (DFA) on Aug. 7. “I would like to confirm that our office has received already […]
Read more →House OKs e-learning, Wi-Fi bills
THE House of Representatives approved a measure seeking to expand college students’ access to academic materials and internet connectivity on third and final reading. In a statement on Thursday, House Speaker and Isabela Rep. Faustino “Bojie” G. Dy III said House Bill (HB) No. 9532, or the proposed Universal Access to Digital Academic Learning Resources […]
Read more →NEA seeks law enforcement agencies’ help vs power pilferage
THE National Electrification Administration (NEA) on Thursday called on law enforcement agencies to assist in addressing power pilferage as they found approximately 40,000 consumers using electricity without meters. During the Senate Committee on Energy hearing on system loss, NEA Administrator Antonio Mariano C. Almeda said they would need the help of agencies such as the […]
Read more →ALI, Pag-IBIG expand housing access
AYALA LAND, INC.’S (ALI) residential brands Avida Land and Amaia Land have formalized a partnership with the Home Development Mutual Fund (Pag-IBIG Fund) to broaden homeownership opportunities for Filipino workers. Under a memorandum of understanding, ALI units and Pag-IBIG Fund sought to identify specific Avida and Amaia homes that will feature special offers for qualified […]
Read more →BIR limits co-op tax perks to CDA
THE Bureau of Internal Revenue (BIR) will only recognize compliance certificates issued by the Cooperative Development Authority (CDA) when granting tax incentives under the Philippine Cooperative Code to Cooperatives and Social Enterprise Authority (CSEA)-registered cooperatives, unless legislation provides otherwise. In Revenue Memorandum Circular No. 90-2026, the BIR said only a CDA issued by the Cooperative […]
Read more →Funding sought for proposed higher village pay
THE Department of Budget and Management (DBM) backed the proposed Magna Carta for Barangays but urged the Senate to address the funding source of the measure for the provision of higher salaries and benefits to village-level officials and employees. During the Senate Committee on Local Government hearing on the Senate bills for the magna carta […]
Read more →PAOCC flags costly steel radioactive scrap disposal
THE Presidential Anti-Organized Crime Commission (PAOCC) on Thursday raised concerns over the budget needed to comply with the proper disposal of radioactive materials found in steel manufacturing companies in the country. Speaking at the Senate Committee on Economic Affairs hearing on the domestic steel industry, PAOCC Executive Director Benjamin C. Acorda, Jr. said in one […]
Read more →Cordillera storm damage hits P1.7B
BAGUIO CITY — Damage to infrastructure across the Cordillera highlands from the combined effects of the enhanced southwest monsoon and tropical cyclones Maymay and Dolphin has reached P1.7 billion, with authorities still validating the extent of losses and expecting the figures to hike further. The Office of Civil Defense-Cordillera Administrative Region (OCD-CAR) said in its […]
Read more →Soldier dead, 2 companions wounded in Sulu ambush
COTABATO CITY — An Army corporal was killed while his two companions were wounded in an ambush in Barangay Tagbak in Indanan, Sulu on Wednesday. Officials of the Sulu Provincial Police Office and the military’s Western Mindanao Command (WestMinCom) told reporters on Thursday that the ambush victim Cpl. Aldrin A. Wanson, of the 41st Infantry […]
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