Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
8272 articles across all sources
OVP witness admits P500M released to unbonded officer
A FORMER Office of the Vice-President (OVP) special disbursing officer admitted releasing P500 million in confidential funds to an unbonded security officer, raising questions in Vice-President Sara Duterte-Carpio’s impeachment trial over compliance with government disbursement rules. Gina F. Acosta, the OVP’s former special disbursing officer, said she released the funds to Colonel Raymund Dante Lachica […]
Read more →Congressmen seek to restore DoJ budget cuts amid concerns over crime
CONGRESSMEN are pushing to restore proposed cuts to the Department of Justice’s (DoJ) 2027 budget, warning that lower funding for anti-trafficking, cybercrime and child protection programs could slow rescue operations and the government’s response to online sexual abuse. Party-list Rep. Sarah Jane I. Elago questioned the reductions during a House of Representatives Committee on Appropriations […]
Read more →Tugboat sinks off Botolan, Zambales
A tugboat sank off Botolan, Zambales province in northern Philippines on Monday after it began tilting sharply to one side while being towed from an area where it had run aground, the Philippine Coast Guard (PCG) said. All 10 workers aboard were rescued, it said in a Facebook post. “The prevailing strong waves and rough […]
Read more →Project NOAH gets P1-B boost
THE DEPARTMENT of Budget and Management (DBM) said it released P1 billion to the University of the Philippines System for Project NOAH to strengthen artificial intelligence (AI)-powered flood forecasting, real-time hazard monitoring and disaster-prevention capabilities. In a statement on Monday, the DBM said the funding for Project NOAH, or Nationwide Operational Assessment of Hazards, aims […]
Read more →House urged to review budget of AMLC, 10 others
A LAWMAKER on Monday called for closer House of Representatives scrutiny of the proposed budgets of 11 Executive offices and agencies, saying their allocations should undergo committee-level deliberations before being taken up in plenary. In a statement, Party-list Rep. Renee Louise M. Co asked the Committee on Appropriations Chair Mikaela Angela B. Suansing to include […]
Read more →More Filipinos trusted PNP in Q2
ABOUT 65% of Filipinos surveyed said they trusted the Philippine National Police (PNP) in the second quarter, up from 63% in the previous quarter, according to OCTA Research. In a statement on Monday, OCTA Research said its July 4 to 11 survey showed that nationwide distrust in the PNP decreased to 13% from 17% in […]
Read more →PSEi inches up on late-session bargain hunting
THE MAIN INDEX closed higher on Monday, supported by late-session bargain hunting as sentiment continued to be weighed down by the conflict between the United States and Iran. The Philippine Stock Exchange index (PSEi) went up by 0.21% or 12.92 points to close at 6,251.38. Meanwhile, the broader all shares index slipped by 0.01% or […]
Read more →Watchdogs oppose postponement of village, youth polls
POLL observers on Monday opposed the proposals to postpone the village and youth council elections scheduled for Nov. 2, saying that preparations for the polls may go to waste and may set a precedent in the future that would allow constant cancellations of the polls to give way for term extensions. At a Senate Local […]
Read more →AMLC scores convictions over financial fraud cases
THE Anti-Money Laundering Council (AMLC) on Monday said it has secured two convictions from regional courts against individuals involved in illegal investment schemes. “The Anti-Money Laundering Council has made significant progress in the fight against financial crime with two judgments convicting individuals for money laundering predicated on violations of the Securities Regulation Code (SRC),” it […]
Read more →BI intercepts 8 Indonesia-bound Filipinos in suspected ‘catphishing’ recruitment
THE BUREAU of Immigration (BI) intercepted eight Filipinos bound for Indonesia after authorities found indications they were recruited through a “catphishing” modus, the agency said on Monday. The five men and three women, aged 26 to 49, were intercepted on Aug. 7 at the Ninoy Aquino International Airport Terminal 1 while preparing to travel to […]
Read more →BoC, LTO probes possible Porsche misdeclaration
THE BUREAU of Customs (BoC) is investigating the possible misdeclaration of a Porsche 918 Spyder that was declared upon importation as a lower-priced Porsche Boxster, reflecting a P44.76-million difference in dutiable value. The investigation followed the Land Transportation Office’s (LTO) probe into the vehicle’s alleged use of an unauthorized plate and information indicating a possible […]
Read more →MGB flags 106 Cordillera barangays at risk of landslides
BAGUIO CITY — The Mines and Geosciences Bureau (MGB) Cordillera has warned of possible landslides and flash floods as the southwest monsoon continues to dump rain over the region, urging local governments to prepare for possible evacuations. MGB-Cordillera Regional Director Socrates G. Gaerlan called on provincial, city and municipal governments and disaster risk reduction councils […]
Read more →Green lane-eligible investments nearing P400B
ABOUT P391.84 billion worth of projects have been endorsed to the “green lane” system of expedited permits in the first seven months, the Board of Investments (BoI) said. In a statement on Monday, the BoI said 22 projects were deemed strategic and eligible for “green lane” treatment by the end of July. These are expected […]
Read more →US biz delegation encouraged by direction of PHL economic reform
A DELEGATION of US business executives said US companies are eager to step in as partners to the Philippines as it pursues its program of economic reforms. “The Philippine government has demonstrated a strong commitment to advancing its economic priorities, and the US private sector is committed to being a trusted partner in helping achieve […]
Read more →DTI obtains budget funding to pay CARS participants
THE Department of Trade and Industry (DTI) said it obtained budget funding to pay auto companies participating in the Comprehensive Automotive Resurgence Strategy (CARS) program. “We were able to secure the budget to pay for the CARS arrearages, padating na po (it’s on the way) but it’s in the process,” Trade Undersecretary Ceferino S. Rodolfo said during […]
Read more →Early-warning monitoring system to guard against vegetable oversupply
THE Department of Agriculture (DA) said that its Agricultural Marketing Assistance Service will configure its market early-warning system to address possible oversupply situations that result in the dumping of unsold vegetables. The DA is also planning to work with other government agencies that could buy up the surplus highland vegetable harvest to create more reliable […]
Read more →Diesel price rise to top P2/liter
MOTORISTS will continue to feel the impact of the turmoil in the Middle East, with diesel prices set to rise again by over P2 per liter, the Department of Energy (DoE) said. In an advisory on Monday, the DoE, which was given the authority to guide fuel prices during the energy emergency, said gasoline prices […]
Read more →Mining EO seen unlocking processing investment
EXECUTIVE ORDER (EO) 122, which established the National Policy Framework for Developing the Critical Minerals Industry, is expected to accelerate investment and exploration in mining by focusing on higher-value processing, miners and regulators said.
Read more →BCDA, StB GigaFactory to explore developing RE in New Clark City
THE Bases Conversion and Development Authority (BCDA) said it signed a memorandum of understanding (MoU) with StB GigaFactory, Inc. to deploy renewable energy (RE) solutions inside New Clark City. In a statement on Monday, the BCDA said StB GigaFactory will advance RE generation, energy storage systems, and e-mobility solutions across New Clark City and other […]
Read more →DEPDev hopes to complete AI framework in Sept.
THE Department of Economy, Planning, and Development (DEPDev) said it is targeting the completion of an artificial intelligence (AI) governance framework by September. Economy Undersecretary Rosemarie G. Edillon said the framework is expected to establish safeguards for AI adoption while supporting innovation and improving productivity. “We are actually finalizing an AI governance framework. We hope […]
Read more →PHL pressed to take lead on ASEAN climate security
THE PHILIPPINES needs to take the lead on climate security within the Association of Southeast Asian Nations (ASEAN), making climate resilience part of the region’s security agenda, officials said. Speaking at a climate security forum co-organized by think tank Stratbase Institute and the German Embassy, Environment Secretary Juan Miguel T. Cuna called for climate resilience […]
Read more →A Tax Odyssey: The journey toward QDMTT
In Homer’s The Odyssey, Odysseus sailed through unfamiliar seas for 20 years in his quest to return home to Ithaca. Along the way, he encountered a cyclops, sirens, storms, witches, and countless detours that threatened to pull him away from his destination. But despite these hurdles, his objective remained unchanged: finding his way back home. […]
Read more →More Gen Zs, millennials invest in gold amid economic uncertainties
The Palawan Group of Companies said it has seen an increase among younger generations, specifically Generation Zs and millennials, investing in gold amid global economic uncertainties and shifts. “Millennials are actively investing in gold; that was a big surprise. Now, slowly, we can see some of the Gen Zs also,” Palawan Group of Companies President […]
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