Philippines Business News
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2354 articles from BusinessWorld
SEC chair says GCash IPO shows PHL capacity for large deals
THE planned initial public offering (IPO) of Mynt, Inc., operator of the GCash e-wallet, shows that the Philippine capital market can accommodate large equity transactions, Securities and Exchange Commission (SEC) Chairperson Francisco Ed. Lim said. “An offering of this magnitude is a most welcome development. It demonstrates that the Philippine capital market has the capacity […]
Read more →The shared history of Mexico and the Philippines
Every Sept. 16, Mexico celebrates its independence from Spain with a national holiday featuring fireworks and cultural performances that recall the beginning of its fight for freedom. The commemoration traces back to 1810, when Miguel Hidalgo y Costilla, a Catholic priest known as Father Hidalgo, called for independence in Dolores. After his speech, Hidalgo raised […]
Read more →Peso rebounds after hitting P62.90 range
THE PESO rebounded slightly against the dollar on Tuesday from its latest all-time-low close, but still hit a new record intraday trough as players looked ahead to the US Federal Reserve’s policy meeting, where a rate hike is expected due to growing inflation pressures from rising oil prices. The currency gained 2.5 centavos to end […]
Read more →P55-B equipment cost may weigh on Semirara mine auction — SMPC
A NEW operator of the Semirara coal mine may need to invest at least P55 billion in equipment to sustain large-scale production, a cost that could be difficult to recover given the mine’s remaining life, according to Semirara Mining and Power Corp. (SMPC) Chairman Isidro A. Consunji. “If you want to produce 60 million tons […]
Read more →The need for quality work: Work is for the human person
(Part 2) There are defeatists who say that poor-quality work is better than no work. As we consider the high rate of poverty in the Philippines, despite our having attained so-called Upper-Middle Income Status, there could arise among our leaders and policy makers the mentality that “beggars can’t be choosers.” That the unemployed or underemployed […]
Read more →Asialink targets to disburse P28 billion via GrowBiz Loan
ASIALINK FINANCE Corp. (AFC) aims to disburse P28 billion under its new business loan product as it moves into larger-ticket and longer-term financing programs for medium enterprises. The company has launched GrowBiz Loan, a financing program that offers qualified medium enterprises up to P100 million in funding, with repayment terms of up to seven years […]
Read more →Cebu panel recommends continued work at Monterrazas after flood review
A CEBU CITY technical panel has recommended allowing Mont Property Group’s 118-hectare Monterrazas de Cebu project to continue after reviewing its flood control measures, while saying the findings did not establish that the development had no role in nearby flooding. The city’s Technical Infrastructure Committee (TIC), through Resolution No. 2026-008 adopted on Sept. 8, approved […]
Read more →Cash remittances hit seven-month high in July
CASH REMITTANCES rose to its highest monthly level in July this year as overseas Filipino workers (OFWs) sent home more money ahead of the school season, with the weak peso also providing some support, preliminary central bank data showed. Read the full story.
Read more →Romualdez placed in Quezon City jail clinic under medical supervision
FORMER SPEAKER and incumbent Leyte Rep. Ferdinand Martin G. Romualdez has been placed in the infirmary ward of the Quezon City Jail in Payatas with three other inmates and remains under medical supervision, Interior Secretary Juanito Victor “Jonvic” C. Remulla said on Tuesday.
Read more →QC court rejects VP Sara bid to inhibit magistrate
A QUEZON CITY (QC) regional trial court (RTC) has rejected Vice-President (VP) Sara Duterte-Carpio’s motion seeking the inhibition of the judge handling the three grave threat cases against her, allowing the proceedings to continue under the same judge. In an order dated Sept. 14, RTC Branch 98 Presiding Judge Maria Angelica P. De Ramos rejected […]
Read more →VP declared no cash assets in SALNs since 2019, Ombudsman witness says
VICE-PRESIDENT (VP) Sara Duterte-Carpio declared no cash on hand or cash in bank in her statements of assets, liabilities and net worth (SALNs) from 2019 to 2025, an Office of the Ombudsman official told the Senate impeachment court on Tuesday. At the 25th day of Ms. Duterte’s impeachment trial, Karen S. Batu, officer-in-charge of the […]
Read more →Overhaul of class suspension rules sought
THE Second Congressional Commission on Education (EDCOM II) has called for an overhaul of class suspension rules, warning that broad cancellations of classes are adding to the Philippines’ learning crisis. In a policy note released on Tuesday, EDCOM II urged the government to amend Executive Order No. 66, series of 2012, to establish science-based criteria […]
Read more →2027 budget faces scrutiny as House begins plenary deliberations
THE House of Representatives on Tuesday opened plenary deliberations on the proposed P7.2-trillion national budget for 2027, with lawmakers questioning how much of the spending plan Congress can control. Party-list Rep. and Minority Leader Marcelino C. Libanan said the budget should be examined beyond the size of its allocations, including the amount subject to congressional […]
Read more →DoJ subpoenas Padilla, 6 others over dela Rosa escape
THE Department of Justice (DoJ) has subpoenaed Senator Robinhood C. Padilla over a complaint alleging that he helped Senator Ronald “Bato” M. dela Rosa evade authorities after the latter left the Senate compound in May. The complaint, filed by the Philippine National Police Criminal Investigation and Detection Group on May 28, names six other respondents, […]
Read more →Palace: No additional UPLIFT funds
NO ADDITIONAL funds have been set aside for the government’s expanded Unified Package for Livelihoods, Industry, Food and Transport (UPLIFT) program despite the prospect of higher oil prices from the conflict in the Middle East, Malacañang said. Future releases will depend on requests from implementing agencies, Palace Press Officer Clarissa A. Castro told a news […]
Read more →ILO, Canada tie up vs forced labor in PHL
THE International Labour Organization (ILO) and the Canadian government have launched a four-year project to strengthen the Philippines’ systems for detecting and addressing forced labor, with a focus on worker protection and sectors linked to international trade. “Forced labor has no place in our societies. Eliminating this practice is fundamental to achieving decent work, social […]
Read more →Senators eye more electricity relief
THREE SENATORS are pushing for broader energy cost relief either through the total elimination of the charges or the removal of value-added tax (VAT) from residential electricity bills, as they welcomed the removal of the VAT on system loss charges. “The Senate will continue pushing for legislation that will reduce or totally remove the system […]
Read more →Federalist party leads BARMM polls
COTABATO CITY — The Bangsamoro Federalist Party ranked first in the outcome of the Sept. 14 elections for bloc representation in the 80-seat parliament in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Each of the more than 10 parties that participated in the elections anointed a bloc for the parliament and separate individual candidates […]
Read more →Palace refutes claims PHL-US deal on critical minerals was concealed
THE Palace on Tuesday rejected claims that the Philippines-US critical minerals memorandum of understanding (MoU) was concealed from the public, saying the agreement does not create legally binding obligations. Palace Press Officer Clarissa A. Castro said the Department of Environment and Natural Resources (DENR) released information on the signing on Feb. 7, three days after […]
Read more →No legal basis for Marcos’ resignation, Palace says
CALLS for President Ferdinand R. Marcos, Jr. to resign have no legal basis and are “absolutely delusional,” the Palace said on Tuesday amid renewed criticism from Vice-President Sara Duterte-Carpio’s camp. Palace Press Officer Clarissa A. Castro said Mr. Marcos’ remark during a press briefing over the weekend that he could not force anyone to love […]
Read more →House panel approves proposed subsidy for minimum wage households
THE proposed P12,000 annual subsidy for qualified minimum wage households should be viewed as an economic intervention that could also boost sales of small businesses, a lawmaker said as the measure was approved at the committee level. In a statement, Party-list Rep. Jude A. Acidre said that the proposed Pambansang Agapay sa Pamilya at Maliliit […]
Read more →333 housing units turned over in Valenzuela
PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday led the turnover of 333 housing units at Disiplina Village Arkong Bato in Valenzuela City for families relocated from flood-prone and other high-risk areas, the Palace said. The project is part of the government’s relocation program for informal settler families, according to Presidential Communications Office. Mr. Marcos said […]
Read more →DILG: Ex-Palace spox Roque’s asylum application denied
INTERIOR Secretary Juanito Victor “Jonvic” C. Remulla, Jr. said the asylum application of ex-presidential spokesperson Herminio “Harry” L. Roque, Jr.’s was denied, which the latter rejected as “fake news.” “His asylum bid was done. Harry Roque’s asylum bid was denied. Five months had passed,” Mr. Remulla said during a live briefing on Tuesday. “Once the […]
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