Philippines Business News

Box Office: ‘Spider-Man’ stays on top while two dino movies battle for third

TWO very different dinosaur movies devoured a modest chunk of the North American box office this weekend, although neither came close to unseating “Spider-Man” from its perch atop the charts, nor managed to steal second place from “The Odyssey.” “Paw Patrol: The Dino Movie” and “The End of Oak Street,” one targeted to very young children and the other an original PG-13 rated action movie, battled for third place in their first weekend in theaters.

US to tell partners they must pick sides in AI race

WASHINGTON — The US is preparing to tell dozens of countries they must pick sides in the artificial intelligence race with China, warning they will be excluded from a US-led AI coalition if they also sign up for Beijing’s competing framework, according to a US official and an internal draft reviewed by Reuters. Washington last year launched the Pax Silica initiative aimed at securing supply chains for AI models, semiconductors and critical minerals, amid a fierce technology rivalry w

Non-essential govt spending cuts to stay, ‘crisis or no crisis’

BUDGET authorities plan to continue trimming non-essential government operating expenses even after the country’s current economic troubles ease to improve spending efficiency and generate savings. Budget Assistant Secretary Romeo Matthew Balanquit said the government’s ongoing effort to reduce non-essential maintenance and other operating expenses (MOOE) should not be viewed merely as a temporary response to the shock caused by the war in the Middle East. “We think we’ll

Financial system resources 8.9% higher at P38.3T in H1

THE Philippine financial system’s resources totaled P38.3 trillion in the first half of the year, latest Bangko Sentral ng Pilipinas (BSP) data showed, up 8.9 percent from P35.2 trillion a year earlier. The six-month tally, which remains preliminary and does not include the central bank’s resources, is also higher than the full-year result of P37.13 trillion last year, P34.17 trillion in 2024, P31.52 trillion in 2023 and P29.04 trillion in 2022. Banks accounted for the bulk at P31.96

Countdown to compliance: Embracing e-invoicing

WITH only four months remaining before the Bureau of Internal Revenue (BIR) rolls out its electronic invoicing system (EIS) on Dec. 31, 2026, many businesses remain uncertain about the practical challenges of its implementation and compliance. Particularly, taxpayers engaged in e-commerce, large taxpayers, and computerized accounting systems (CAS) users — those mandated to implement electronic invoicing (e-invoicing) by the end of 2026 — are still trying to fully grasp the process an

91% of this year’s budget disbursed as of July – DBM

THE government has released 91 percent of the 2026 national budget as of July, according to the Department of Budget and Management (DBM). Latest data from the DBM’s Status of Allotment Releases showed that P6.18 trillion of the P6.793-trillion General Appropriations Act (GAA) had been disbursed as of end-July, leaving a balance of P610.9 billion. The release rate was higher than the 89.9 percent recorded a month earlier, but lower than the 93.8 percent posted in the same period last year.

Infra rebound seen helping PH recover

A REBOUND in public construction is expected to provide a much-needed boost to Philippine economic growth in the second half after weak infrastructure spending dragged on the economy in the first six months of the year, a Budget department official said. Budget Assistant Secretary Romeo Balanquit said he expected public construction to become a significant contributor to economic growth beginning in the third quarter as government agencies accelerate the use of infrastructure funds released in r

Former disbursing officers to testify

THREE more witnesses will be presented this week by the House prosecution team at the Senate impeachment trial of Vice President Sara Duterte. The three witnesses will be grilled about the alleged misuse of P612.5 million in confidential funds. The Senate impeachment court has subpoenaed former Office of the Vice President (OVP) special disbursing officer (SDO) Gina Acosta and former Department of Education (DepEd) SDO Edward Fajarda to testify from Aug. 17 to 19. Acosta and Fajarda have yet to

Eala advances to Cincinnati Open 3rd round

ALEXANDRA “Alex” Eala dominated Romanian Elena-Gabriela Ruse, 6-1, 3-0 (ret.), early Sunday in Manila to enter the WTA 1000 Cincinnati Open third round. Eala held a 6-1, 3-0 lead before play at the Tony Trabert Stadium 3 in Ohio was suspended due to an approaching lightning storm. The match did not require resumption as Ruse retired due to a right foot injury, enabling Eala’s third-round entry. Ruse had taken a medical timeout before play was suspended, getting her right foot t

DBM: P9.75B released for free college program

THE Department of Budget and Management (DBM) has released P9.753 billion to the Commission on Higher Education (CHED) to cover funding deficiencies in the Free Higher Education Program (FHEP) of 108 state universities and colleges (SUCs). The budget release reinforced the Marcos administration’s commitment to sustain access to quality tertiary education, the DBM said. The amount covered academic years 2022–2023, 2023–2024, and 2024–2025. DBM Acting Secretary Kim Robert D

US pulls last aircraft carrier in Asia

WASHINGTON — President Donald Trump's war against Iran is stretching the limits of US aircraft carriers and leaving the western Pacific without one of the key American warships as China shows more signs of aggression. The USS George Washington is departing the Pacific and expected to replace the USS Abraham Lincoln in the Middle East amid growing concerns about mental health and supply issues aboard the long-deployed carrier. The Lincoln has had its time at sea extended from its original M

‘1 in 4 Filipino seniors risk falling into poverty’

OFFICIAL poverty statistics show that less than 8 percent of Filipino senior citizens are poor. But new research presented this week suggests the number of people at economic risk is three times higher. A study on household vulnerability to income poverty, discussed at the recent Inclusive Social Protection Services in the Philippines’ Policy and Research Forum, found that while 7.8 percent of senior citizens were classified as poor in 2023, 24 percent were vulnerable to falling into pover

XPPen Marks Its 21st Anniversary with "DOODLE THE WORLD", Bringing Creativity Beyond Boundaries

LOS ANGELES, Aug. 16, 2026 /PRNewswire/ -- XPPen, a leading global digital art innovation brand, proudly celebrates its 21st anniversary. Marking 21 years of empowering creators worldwide, XPPen introduces this year's theme, "DOODLE THE WORLD," with a series of creative experiences, including the Global Art Toy Design Contest co-hosted by XPPen and TOP TOY, a globally renowned art toy brand, the upcoming Artist Ultra 14 drawing display, artist conversations, the Doodle & Spin Game on official we

Teen boy among 6 dead including suspect in Michigan shootings; girl survived

MICHIGAN — A teenage boy and four adults were killed Friday in shootings that prompted a wide search for the fleeing gunman, whose body was ultimately found in a wooded area alongside one of his victims, authorities said. A teenage girl survived and was in stable condition, police said. Chad Hickman, 39, was found dead after a wide search in Missaukee County, police said. Police released the ages and genders of the victims on Saturday but did not specify whether they were related to each o

Europe's tallest statue of the Virgin Mary is inaugurated in a small Polish village

KONOTOPIE, Poland — An enormous statue of the Virgin Mary that is believed to be Europe's tallest was inaugurated on Saturday in a small Polish village, in the presence of legendary anti-communist leader Lech Walesa. Hundreds of people took part in the consecration of the monument, which towers 55.6 meters (182 feet) over Konotopie in central Poland, the home of fewer than 150 people. While helicopters scattered miniature red roses over the crowd, priests in white robes celebrated Mass and

Globalstar Confirms Successful Launch of All 8 HIBLEO-4 Replacement Satellites

Satellites launched aboard SpaceX Falcon 9 rocket reach orbital plane Globalstar HIBLEO-4 Launch Globalstar confirms the successful launch of all 8 HIBLEO-4 replacement satellites aboard SpaceX Falcon 9 rocket. COVINGTON, La., Aug. 16, 2026 (GLOBE NEWSWIRE) -- Globalstar (NASDAQ: GSAT), a next-generation telecommunications infrastructure and technology provider, today announced the successful launch and deployment of its latest satellites, marking another significant milestone in the continued e

PCSO Lotto Results | August 17, 2026

Thieves steal 4 Renaissance artworks in Sicilian museum heist on Italian holiday

MILAN — Thieves stole four works attributed to the Sicilian Renaissance painter Antonello da Messina from a regional museum in the Sicilian city of Messina on the Italian Ferragosto holiday, the news agency LaPresse reported Sunday. The thieves bypassed alarm and security systems Saturday evening at the MuMe regional museum to make off with three of the five surviving panels of the San Gregorio Polyptych, dated from 1473, as well as the double-sided panel depicting the Virgin Mary and dead

Labor group pushes P200 wage hike

MANILA, Philippines — A labor group on Sunday called for a dialogue with President Ferdinand Marcos Jr. as it urged him to certify as urgent a proposed P200 nationwide wage increase. In a statement, the Nagkaisa! Labor Coalition asked Marcos to meet with workers and their unions, saying it had repeatedly sought a dialogue with the President. "If the P85 increase that already went through the Wage Board can still be held up in court, then a legislated wage hike is all the more timely. The h

Southwest monsoon to dump more rain — Pagasa

MANILA, Philippines — More rain will fall as the southwest monsoon or habagat will continue to affect Luzon and the western part of Visayas, the Philippine Atmospheric, Geophysical and Astronomical Services (Pagasa) said Sunday. Weather Specialist Grace Castañeda-Carpio said occasional to heavy rain was possible in Ilocos Sur, La Union, Pangasinan, Zambales, and Bataan. She said heavy rain may also drench Ilocos Norte, Cagayan, Batanes, the Cordillera Administrative Region, Tarlac,

Air support kicks in as record Belgian wildfire jumps in size

BELGIUM — Crucial air support swung into action Sunday to help firefighters tame Belgium's largest modern-day wildfire, which has mushroomed in size since breaking out two days ago in a hard-to-access nature reserve. More than 250 firefighters and emergency workers were battling to contain the blaze in the High Fens park near the German border, an area of fragile peatlands and pine forests popular with hikers. Authorities described the conditions Sunday as still "challenging," but two of t

NHCP museum pays tribute to Rizal's mom on 115th death anniversary

MANILA, Philippines — The National Historical Commission of the Philippines' (NHCP) Museo ni Jose Rizal in Calamba, Laguna paid tribute to Doña Teodora Alonso on her 115th death anniversary on Sunday. In a post shared by the NHCP on Facebook, the museum, which is also a shrine, said it conducted "a simple but meaningful" offering of flowers at her grave. "Doña Teodora served as an inspiration to Jose Rizal to study medicine and become an expert in treating eye diseases," it s

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