Philippines Business News
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1881 articles from BusinessWorld
Atome Philippines gets P5-billion credit facility from AUB
ATOME PHILIPPINES has closed a P5-billion wholesale credit facility with Asia United Bank Corp. (AUB) to fund its continued expansion. Proceeds will mainly be used to expand the Atome PayLater Anywhere Card, which it said has been issued to over three million Filipinos to date. The loan facility also adds a peso-denominated line to its […]
Read more →Democracy on trial: Why the integrity of impeachment matters
The Philippines once again faces one of those defining moments that test not merely its politics but the resilience of its constitutional democracy. At such moments, the issue is seldom confined to the fortunes of one public official. What is ultimately being tested here is whether democratic institutions continue to function as envisioned by the […]
Read more →MIC, PNOC study Bataan petroleum storage project
MAHARLIKA INVESTMENT CORP. (MIC) and Philippine National Oil Co. (PNOC) have signed a memorandum of understanding (MoU) to study the development of a petroleum storage tank farm in Bataan as part of efforts to strengthen the country’s energy security. In a statement on Thursday, MIC said the MoU establishes a framework for cooperation on the […]
Read more →Stocks snap six-day run on ME, growth concerns
PHILIPPINE SHARES on Thursday snapped their six-day winning run as investors turned cautious over renewed tensions in the Middle East (ME) and weakening economic prospects. The Philippine Stock Exchange index (PSEi) dropped by 0.82% or 51.90 points to close at 6,223.87, while the broader all shares index fell by 1.01% or 34.59 points to end […]
Read more →‘Significant’ revenue gains seen from property valuation reform
THE REAL PROPERTY Valuation and Assessment Reform Act (RPVARA) is expected to raise local government revenue by “significant” amounts starting 2030 once the revised valuations kick in, the Department of Finance (DoF) said.
Read more →June spot power prices surge after continued Visayas grid instability
ELECTRICITY spot market prices rose in June after supply margins thinned due to persistent power plant outages in the Visayas, the Independent Electricity Market Operator of the Philippines (IEMOP) said. The average electricity spot market price rose P1.77 or about 22.7% in June to P9.56 per kilowatt hour (kWh) as overall supply remained tight despite lower […]
Read more →BCDA, PEZA among billion-peso dividend club
THE Bases Conversion and Development Authority (BCDA) said it remitted P2.6 billion in dividends to the National Government (NG) from its 2025 results. In a social media post on Thursday, its subsidiary, Clark Development Corp. (CDC), said it turned over P2.6 billion in dividends to the NG. Government-owned and -controlled corporations (GOCCs) remitted a combined […]
Read more →Gov’t sees upskilling as key to raising wages
THE government is focused on upskilling the workforce en route to ensuring wage growth and making workers ready for the future, the Palace said on Thursday. Palace Press Officer Clarissa A. Castro said the administration’s focus remains on elevating the quality of jobs and protecting worker welfare. She said at a briefing that President Ferdinand […]
Read more →Farmers, fisherfolk set to receive P150 million in fuel subsidies
THE Department of Agriculture (DA) said on Wednesday that it is disbursing P150 million worth of fuel subsidies, split evenly between farmers and fisherfolk. Arnel V. De Mesa, DA spokesman and assistant secretary for Special Concerns and Official Development Assistance, told reporters at a briefing that 89% of the fuel subsidies due to be handed […]
Read more →PCCI backs power-industry reforms, saying they enhance competition, consumer welfare
THE Philippine Chamber of Commerce and Industry (PCCI) said it supports the Energy Regulatory Commission’s (ERC) recent reforms to enhance market competition. In a statement on Thursday, the group noted the commission’s moves to lower the Retail Competition and Open Access threshold to 100 kilowatts; streamline net-metering requirements; and expand transmission infrastructure access through third-party […]
Read more →Prefab building methods touted for potential to reduce emissions
REAL ESTATE and construction companies are calling for a shift from traditional on-site building to prefabrication, citing the potential of modular technologies to significantly reduce the industry’s global greenhouse gas footprint while cutting project timelines by half. Speakers at the Philippine Hospitality on Sustainable Tourism Summit said modularization and prefabrication are no longer just alternative […]
Read more →BIR wraps up Korea-aided electronic invoicing project
THE Bureau of Internal Revenue (BIR) said it completed a 14-month project to enhance its Electronic Invoicing and Sales Reporting System (EIS), which it expects to strengthen tax administration and support the BIR’s digital transformation efforts. In a statement on Thursday, the BIR said the Korea International Cooperation Agency (KOICA) formally turned over the enhanced […]
Read more →PHL signs P124B in Canada energy, critical-mineral investment pledges
THE PHILIPPINES took in about P124 billion in critical- mineral and energy-security investment pledges from Canadian companies, the Department of Trade and Industry (DTI) said. The pledges were made by seven Canadian firms, the DTI said in a statement on Thursday. Trade Secretary Maria Cristina A. Roque said the Philippines is ready to partner with […]
Read more →380-unit palay drying network seen completed by 2027
THE Department of Agriculture (DA) said on Thursday that it is set to complete 380 mechanical drying systems aimed at expanding the country’s post-harvest drying facilities by the start of the 2027 wet season. It said 230 palay (unmilled rice) drying units are expected to be operational by the end of 2026, while 150 units […]
Read more →Marcos’ Q2 approval and trust ratings slip amid graft and economic concerns
PRESIDENT Ferdinand R. Marcos, Jr.’s approval and trust ratings fell in June as concerns over corruption, the economy and political accountability continued to weigh on public sentiment, according to a survey by PUBLiCUS Asia, Inc.
Read more →OVP chief of staff gets impeachment subpoena
THE Senate impeachment court has served the summons on Vice-President (VP) Sara Duterte-Carpio’s chief of staff so she could testify next week, as prosecutors prepare to continue presenting evidence on allegations that she threatened President Ferdinand R. Marcos, Jr. As this developed, Malacañang rejected the defense’s argument that Ms. Duterte’s threats against Mr. Marcos were […]
Read more →Teodoro rejects Chinese scholars’ claim over Batanes
THE PHILIPPINES’ Defense chief on Thursday rejected as “baseless” and “ludicrous” assertions by Chinese scholars that its northernmost island-chain province belongs to Beijing, calling the claim concerning and worthy of challenge. Chinese state-run news site GDToday reported on July 2 that scholars from institutions including Nanjing University argued at a June 30 symposium that Batanes […]
Read more →Gov’t to release 2024 performance bonuses
ELIGIBLE government employees can expect to receive their fiscal year 2024 performance-based bonuses within the year as the government accelerates processing under a streamlined incentive system, Malacañang said on Thursday. “The fiscal year 2024 performance-based bonus for qualified government employees will be processed and is expected to be granted this year,” Palace Press Officer Clarissa […]
Read more →MMDA asks malls to open parking for shelter as ‘Inday’ nears
THE Metropolitan Manila Development Authority (MMDA) has requested shopping mall operators to open their parking areas to the public for overnight parking as Super Typhoon Inday, with international name “Bavi,” approaches Luzon. In a memorandum on Thursday, MMDA Chairman Romando S. Artes asked all concerned shopping mall operators to make available parking spaces in their […]
Read more →VP team told: Prove ‘Romanov’ ops
MALACAÑANG on Thursday challenged Vice-President (VP) Sara Duterte-Carpio’s camp to present evidence supporting its claim that an alleged plot dubbed “Oplan Romanov” existed, which her camp cited to justify the Vice-President’s statement against President Ferdinand R. Marcos, Jr. At a Palace briefing, Palace Press Officer Clarissa A. Castro said it was up to Ms. Duterte’s […]
Read more →South Korean ambassador conferred Order of Sikatuna
PRESIDENT Ferdinand R. Marcos, Jr. has conferred the Order of Sikatuna, Rank of Datu (Grand Cross, Gold Distinction) on South Korean Ambassador Lee Sang-hwa during his farewell call at the Malacañan Palace. The award recognized Mr. Lee’s “pivotal contributions to strengthening bilateral ties.” The Order of Sikatuna is the Philippines’ national order or diplomatic merit […]
Read more →DepEd lags in school safety push
THE Department of Education (DepEd) on Thursday said it is facing hurdles in the implementation of a department order (DO) seeking to address school violence, with only 36% of schools nationwide complying. “Based on our audit, we are only around 36% in terms of the compliance of our schools. But the good thing here is, […]
Read more →SC junks NCAP petitions as moot
THE Supreme Court (SC) dismissed consolidated petitions challenging the No Contact Apprehension Program (NCAP), ruling that the issues had become moot after Metro Manila adopted a uniform traffic enforcement framework that replaced the ordinances being questioned. In a decision promulgated on June 3, penned by Associate Justice Rodil V. Zalameda, the SC dismissed petitions filed […]
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