Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
1881 articles from BusinessWorld
Defense questions NBI witness’ credentials in Duterte ouster trial
VICE-PRESIDENT Sara Duterte-Carpio’s defense team on Wednesday challenged the qualifications of the prosecution’s digital forensics witness, with several senator-judges joining questions over his training and credentials as the impeachment trial shifted to the authenticity of video evidence supporting the charges against her. During the third day of the trial, defense lawyer Carlo Joaquin T. Narvasa […]
Read more →PHL’s EV shift seen cutting fuel import dependence
WIDER ADOPTION of electric vehicles (EVs), particularly in public transport, could reduce the Philippines’ reliance on imported fuel and lower transport costs, industry leaders said on Wednesday, arguing that electrification has become an economic imperative rather than just an environmental goal. “When you go electric now, it is you helping not only yourselves but also […]
Read more →Marcos sees more regional wage hikes later this year after record NCR increase
MORE regions could raise minimum wages later this year after Metro Manila approved a record P85 daily increase, with President Ferdinand R. Marcos, Jr. saying regional wage boards are reviewing whether similar adjustments are warranted based on local economic conditions. “The Regional Tripartite Wage Boards are continuously studying what the actual prices are in each […]
Read more →China missile test draws PHL-US alarm
THE PHILIPPINES and the US on Wednesday urged China to exercise restraint after Beijing test-fired a ballistic missile into the South Pacific, saying the launch undermines regional stability. The Department of Foreign Affairs (DFA) said maintaining a “calm, secure and stable environment” in the Indo-Pacific region is essential, adding that actions that erode confidence are […]
Read more →PHL readies for Super Typhoon Inday
GOVERNMENT agencies have activated nationwide contingency protocols following the entry of Super Typhoon Inday, with international name “Bavi,” into the Philippine area of responsibility (PAR) early on Wednesday. Palace Press Officer Clarissa A. Castro said President Ferdinand R. Marcos, Jr. directed agencies to implement contingency measures as forecasts pointed to heavy rains and possible flooding. […]
Read more →Abalos named Cabinet secretary
PRESIDENT Ferdinand R. Marcos, Jr. has appointed former Interior Secretary Benjamin “Benhur” Abalos, Jr. as Cabinet secretary, the Palace said on Wednesday. Mr. Abalos, who relinquished his Department of the Interior and Local Government post for his 2025 senatorial run, took his oath of office on Wednesday afternoon, Palace Press Officer Clarissa A. Castro told reporters. […]
Read more →Kerosene, LPG excise tax restored
THE Bureau of Internal Revenue (BIR) said excise tax rates on kerosene and liquefied petroleum gas (LPG) reverted to their original levels on July 8 after the average Dubai crude oil price fell below the threshold set under the law. Citing a Department of Energy (DoE) certification, the BIR said on Wednesday that the average […]
Read more →GOCCs to remit P147.15B in 2026
GOVERNMENT-OWNED and -controlled corporations (GOCCs) are expected to remit P147.15 billion in dividends to the National Government this year, with P140 billion already collected from 50 state-run firms as of July 8. “As of this month, dividend collections have surpassed those of the previous year. We have received approximately P139.8 billion pesos from 50 GOCCs,” […]
Read more →Biz group urges full UHC rollout to back PHL’s upper-middle income status
THE government must deliver Universal Health Care (UHC) as the Philippines advances to upper-middle income status, business groups said, citing the need to ensure that its state health insurance program aligns with the needs of workers to drive productivity and economic growth. The groups, led by the Management Association of the Philippines, along with the […]
Read more →NNIC says investigation underway on Saudia-PAL aircraft incident
NEW NAIA Infra Corp. (NNIC), the private operator of Ninoy Aquino International Airport (NAIA) has assured that there were no injuries following an aircraft incident at the airport on Tuesday. “All passengers aboard the departing aircraft were safely disembarked. Both aircraft sustained damage that is now undergoing technical assessment. No airport infrastructure or ground equipment […]
Read more →Sandiganbayan denies bid to inhibit Sixth Division in Co malversation case
THE Sandiganbayan’s Sixth Division denied accused Lerma D. Cayco’s motion seeking the court’s voluntary inhibition from further proceeding in the malversation case against former Party-list Rep. Elizaldy “Zaldy” S. Co and his co-accused, ruling that her allegations of judicial bias were unsupported by clear and convincing evidence. In a five-page resolution dated July 3, penned […]
Read more →Erwin files new defamation charges vs bagmen
SENATOR Erwin T. Tulfo on Wednesday filed before the Mandaluyong City Prosecutor’s Office new grave oral defamation charges against two of the 18 alleged bagmen, lawyer Levito D. Baligod, and former lawmaker Michael T. Defensor following allegations made against him at the June 16 flood control press conference. In an 18-page complaint-affidavit, Mr. Tulfo cited […]
Read more →Cordillera on blue alert as super typhoon nears
BAGUIO CITY — The Cordillera Regional Disaster Risk Reduction and Management Council (RDRRMC) raised a Blue Alert status here in the highland region as authorities intensified preparations for the possible impact of Super Typhoon Inday (International name: Bavi). The Blue Alert was hoisted at 8 a.m. on Wednesday to ensure round-the-clock monitoring, early warning, coordination […]
Read more →Nueva Vizcaya OFWs, kin get P8-M aid
BAYOMBONG, Nueva Vizcaya — Thousands of overseas Filipino workers (OFWs) and their families in Nueva Vizcaya received P8 million in financial assistance and 3,500 sacks of rice as the Overseas Workers Welfare Administration (OWWA) rolled out its OFW Serbisyo Caravan. The assistance was capped by an honorary dinner at the Carlos M. Padilla Convention Center, […]
Read more →Isabela charts classroom shortages
ILAGAN CITY, Isabela — The provincial government of Isabela has begun mapping public schools with the most urgent infrastructure needs to speed up the construction and rehabilitation of school buildings in partnership with the Department of Education (DepEd). Governor Rodito T. Albano III and the DepEd Schools Division Office of Isabela launched the assessment this […]
Read more →BuCor transfers 600 more inmates to Davao
THE Bureau of Corrections (BuCor) has transferred 600 inmates from Metro Manila facilities to the Davao Prison and Penal Farm as part of its continuing effort to decongest the New Bilibid Prison (NBP) and prepare for its eventual closure. In a statement on Wednesday, BuCor said 500 male inmates from the NBP in Muntinlupa City […]
Read more →Shares hit four-month high on sustained buying
PHILIPPINE SHARES rallied for a sixth straight session on Wednesday, posting their best close in over four months on sustained buying momentum despite renewed tensions between the United States and Iran. The Philippine Stock Exchange index (PSEi) rose by 0.45% or 28.66 points to close at 6,275.77, while the broader all shares index increased by […]
Read more →Clark Freeport chip, electronics exports hit $3.8 billion in 2025
SEMICONDUCTOR and electronics exports produced in the Clark Freeport Zone (CFZ) totaled $3.8 billion in 2025, according to the Clark Development Corp. (CDC). According to the CDC’s Trade Facilitation Division, semiconductors remained the CFZ’s top export in 2025, generating $2.86 billion, or 75.01% of total exports. The freeport’s top export markets were the US, Hong […]
Read more →Rice imports up 20.1% in June as El Niño fears boost shipments
THE Department of Agriculture (DA) said rice imports in June rose 20.1% year on year to a record 2.75 million metric tons, with worries about the impact of El Niño prompting a buildup of inventories. Citing Bureau of Plant Industry (BPI) estimates, Arnel V. De Mesa, DA spokesman and assistant secretary for Special Concerns and […]
Read more →BAI licensing power over veterinary meds formalized
THE Department of Agriculture (DA) said it issued a department circular on Wednesday outlining procedural matters regarding the Bureau of Animal Industry’s (BAI) assumption of licensing authority over veterinary drugs, a power formerly held by the Food and Drug Administration (FDA). The circular included transitory guidelines for the issuance of licenses to operate and Certificates […]
Read more →Reserves hit three-month high at end-June
By Katherine K. Chan, Reporter THE PHILIPPINES’ end-June dollar reserves jumped to the highest level in three months, backed by the central bank’s profits from its foreign investments and the foreign currency deposits it received from the National Government (NG), preliminary data showed. Bangko Sentral ng Pilipinas (BSP) data released late on Tuesday showed the […]
Read more →Samsung to get jump on Apple’s first foldable with new phones in July
SAMSUNG Electronics Co. will host its next Galaxy Unpacked event on July 22, when the leading foldable phone maker is expected to unveil a Galaxy Z Fold 8 with a shorter and wider design that resembles Apple Inc.’s planned folding iPhone. The Unpacked event will be in London, according to an invite that Samsung sent […]
Read more →Bad weather pushes PHL jobless rate to 4.8%
By Erika Mae P. Sinaking, Reporter The Philippines’ unemployment rate rose to 4.8% in May as job losses in agriculture, driven by bad weather, outweighed employment gains in services and other industries, the Philippine Statistics Authority (PSA) said on Wednesday. The unemployment rate increased from 3.9% a year earlier and 4.7% in April, while the […]
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