Philippines Business News

BDO strengthens anti-scam advocacy for senior citizens

As financial scams become increasingly sophisticated, BDO Unibank continues to strengthen its fraud awareness efforts to help protect vulnerable sectors, particularly senior citizens, from emerging threats.

Queensland’s largest overnight charity walk returns after $1 million first year

BRISBANE, Australia, Aug. 16, 2026 (GLOBE NEWSWIRE) -- Queensland’s largest overnight charity walk will return this October after a sold-out inaugural event attracted more than 1,600 participants and raised more than $1 million for Ronald McDonald House South East Queensland and Children’s Hospital Foundation. Registrations are now open for All Night Long 2026, with participants invited to take on either a 42-kilometre overnight marathon or a 21-kilometre walk through Brisbane in support of chil

Trump says US scaling back military drills with South Korea

WASHINGTON — US President Donald Trump said he was "not happy" about US participation in joint military exercises with close ally South Korea and is scaling back the drills aimed at deterring rival North Korea that start Monday. Trump's comments on Sunday, ahead of the annual "Ulchi Freedom Shield" exercise in South Korea, underscored his willingness to challenge long-standing military alliances, as he harked back to his negotiations with North Korean leader Kim Jong Un during his first te

Soterion's SAP License Manager Passes 100 FUE Assessments as Customers Confront the Cost of SAP's STAR Licensing

One year after launch, the module has completed 100 Full User Equivalent assessments, sizing SAP licensing on what users actually do rather than on the access they are assigned SYDNEY, Aug. 17, 2026 /PRNewswire/ -- Soterion today announced that its SAP License Manager has completed its 100th Full User Equivalent (FUE) licensing assessment, just one year after the module was launched. The milestone reflects the growing demand for specialist licensing expertise as organisations transition from SAP

MLB pitcher Tommy John, known for career-saving elbow op, dies at 83

LOS ANGELES — Tommy John, the Major League Baseball pitcher who underwent a pioneering elbow surgery that later saved the careers of countless pitchers, has died at the age of 83. The New York Yankees and Los Angeles Dodgers were two of John's former clubs offering condolences after he died at his home in Bradenton, Florida, where he had received hospice care after a recurrence of bladder cancer. "We are saddened to hear the news of Tommy John's passing today," Dodgers president Stan Kaste

Today's Weather, 5 A.M. | Aug. 17, 2026

Remittances reach first-half high of $3.04 billion in June

Cash sent through banks reached $3.04 billion in June, up 1.7%.

Corgis run, bark and sniff their way to glory at a growing international race

VILNIUS, Lithuania — It's not all about short-legged speed when 150 corgis gather for an international race celebrating the little dogs. There's a costume parade, the "smartest nose," and — of course — the loudest bark. The fifth Corgi Race Vilnius drew dogs and their owners to the Lithuanian capital's Vingis park on Saturday for what organizers said was the biggest edition yet. There were competitors from Lithuania, Latvia, Poland, Estonia, Germany, Ukraine, the Czech Republic

Rocket Lab Satellite Platforms Built for MDA Space Successfully Reach Orbit, Supporting Globalstar Direct-to-Device Communications Services

Rocket Lab Lightning Bus Rocket Lab Satellite Platforms Built for MDA Space Successfully Reach Orbit, Supporting Globalstar Direct-to-Device Communications Services LONG BEACH, Calif., Aug. 16, 2026 (GLOBE NEWSWIRE) -- Rocket Lab Corporation (Nasdaq: RKLB), a global leader in launch services and space systems, today announced the successful launch of eight advanced satellite platforms the Company built for MDA Space (TSX: MDA; NYSE: MDA), prime contractor for the replenishment of Globalstar’s (N

Brazil's Lula and Flávio Bolsonaro kick off their presidential campaigns

SAO BERNARDO DO CAMPO — Brazil's main presidential election candidates kicked off their campaigns Sunday in their political strongholds ahead of what is expected to be a tight October election. President Luiz Inácio Lula da Silva spoke to more than 10,000 supporters at the Vila Euclides Stadium outside the city of Sao Paulo — where he rose to political fame 47 years ago as a metalworkers union leader during the country's 1964-1985 military dictatorship. Sen. Flávio Bols

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.

BSP tightening cycle may be over

THE BANGKO SENTRAL ng Pilipinas’ (BSP) tightening cycle may be over as the country’s sluggish growth will likely soften demand-driven inflation, with rate cuts on the table for mid-2027, Standard Chartered Bank said.

El Niño risks mount for hydropower developers

HYDROPOWER DEVELOPERS are already feeling the effects of El Niño as prolonged dry spells lower reservoir levels, disrupting operations and critical maintenance activities.

Predictable rules, reliable power needed for Philippines to seize manufacturing boom

THE PHILIPPINES must ensure regulatory predictability and secure reliable power and water to effectively position itself as a major manufacturing hub, according to executives of global management consulting firm Kearney.

PHL financial system resources reach record P38.3 trillion as of June

RESOURCES HELD in the Philippine financial system topped P38 trillion as it rose by nearly 9% to its highest ever as of June, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed. The sector’s combined resources climbed by 8.91% to P38.309 trillion at end-June from P35.174 trillion a year ago. Month on month, it […]

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