Philippines Business News

Thieves steal 4 Renaissance artworks in Sicilian museum heist on Italian holiday

MILAN — Thieves stole four works attributed to the Sicilian Renaissance painter Antonello da Messina from a regional museum in the Sicilian city of Messina on the Italian Ferragosto holiday, the news agency LaPresse reported Sunday. The thieves bypassed alarm and security systems Saturday evening at the MuMe regional museum to make off with three of the five surviving panels of the San Gregorio Polyptych, dated from 1473, as well as the double-sided panel depicting the Virgin Mary and dead

Cautious trade seen as focus turns to BSP meet

PHILIPPINE SHARES may move sideways this week as investors digest companies’ mixed financial results and keep a cautious stance as they look ahead to the Bangko Sentral ng Pilipinas’ (BSP) policy meeting. On Friday, the Philippine Stock Exchange index (PSEi) rose by 0.14% or 9.05 points to close at 6,297.30, while the broader all shares […]

Labor group pushes P200 wage hike

MANILA, Philippines — A labor group on Sunday called for a dialogue with President Ferdinand Marcos Jr. as it urged him to certify as urgent a proposed P200 nationwide wage increase. In a statement, the Nagkaisa! Labor Coalition asked Marcos to meet with workers and their unions, saying it had repeatedly sought a dialogue with the President. "If the P85 increase that already went through the Wage Board can still be held up in court, then a legislated wage hike is all the more timely. The h

Southwest monsoon to dump more rain — Pagasa

MANILA, Philippines — More rain will fall as the southwest monsoon or habagat will continue to affect Luzon and the western part of Visayas, the Philippine Atmospheric, Geophysical and Astronomical Services (Pagasa) said Sunday. Weather Specialist Grace Castañeda-Carpio said occasional to heavy rain was possible in Ilocos Sur, La Union, Pangasinan, Zambales, and Bataan. She said heavy rain may also drench Ilocos Norte, Cagayan, Batanes, the Cordillera Administrative Region, Tarlac,

Air support kicks in as record Belgian wildfire jumps in size

BELGIUM — Crucial air support swung into action Sunday to help firefighters tame Belgium's largest modern-day wildfire, which has mushroomed in size since breaking out two days ago in a hard-to-access nature reserve. More than 250 firefighters and emergency workers were battling to contain the blaze in the High Fens park near the German border, an area of fragile peatlands and pine forests popular with hikers. Authorities described the conditions Sunday as still "challenging," but two of t

Analysts seek scrutiny of P7.2-T 2027 budget, transparency beyond hearings

THE proposed P7.2-trillion national budget for 2027 should face tighter scrutiny over unprogrammed appropriations and confidential and intelligence funds as the Philippines’ limited fiscal space increases the need for stronger safeguards and transparency, analysts said.

Wage injunction may blur court, wage board roles

THE court order halting Metro Manila’s latest minimum wage increase raises questions about how far judges can intervene in wage-setting and whether the country’s existing system gives enough weight to workers’ needs alongside employers’ ability to absorb higher labor costs.

DND slams Chinese Embassy’s ‘evasive’ reply

THE Department of National Defense (DND) on Sunday accused the Chinese Embassy of evading questions and spreading “disingenuous misinformation” in its response to Defense Secretary Gilberto C. Teodoro, Jr.’s remarks on the arrest of Chinese nationals. DND spokesman Arsenio R. Andolong said the embassy’s statement failed to address the issues raised by Mr. Teodoro and […]

Palace slams BARMM chief attack

MALACAÑANG on Sunday said President Ferdinand R. Marcos, Jr. has directed government agencies to strengthen security in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and investigate the reported attack on Interim Chief Minister Abdulraof A. Macacua and his companions. “The President has ordered all relevant government agencies to further intensify security in Bangsamoro communities […]

Gov’t may increase LGU support fund

THE government could increase its support fund for local government units (LGUs) next year if this year’s funding proves effective, Executive Secretary Ralph G. Recto said during his Cebu visit. About 210,000 students in more than 42,000 barangays nationwide have benefited from the Presidential Scholars Program, Mr. Recto said in Filipino, according to a statement […]

CHED gets P9.75B for SUC

THE Department of Budget and Management (DBM) released P9.753 billion to cover deficiencies in the implementation of the Free Higher Education (FHE) program across 108 state universities and colleges (SUCs) for three academic years. The funding, released to the Commission on Higher Education (CHED), covers arrears for academic years 2022-2023, 2023-2024 and 2024-2025. The amount […]

20% student load discount pushed

SENATOR Erwin T. Tulfo on Sunday pushed for a bill seeking to grant students a 20% discount on prepaid and postpaid mobile load to aid in the connectivity of learners following frequent shifts of schools to online classes due to inclement weather. Under the Senate Bill No. 2275 filed on June 17, telecommunication companies (telcos) […]

RHR, Punlaan School partner for hospitality training program

ROBINSONS Hotels and Resorts (RHR), the hospitality arm of Robinsons Land Corp. (RLC), has formalized a partnership with Punlaan School to provide hands-on hospitality training to scholars amid its push to bolster the company’s talent pipeline while supporting vocational education. Through a recently signed Memorandum of Agreement, the Gokongwei-led hospitality unit will host two scholars […]

BuCor officer returns, vows to cooperate in trust fund probe

AN OFFICER of the Correctional Institution for Women (CIW) returned after her absence without official leave since July 29, to cooperate in the investigation into alleged anomalies into the prisoners’ trust fund, the Bureau of Corrections (BuCor) said. Corrections Officer 2 Bianca Ramos returned to the CIW on Saturday accompanied by her sisters and legal […]

NHCP museum pays tribute to Rizal's mom on 115th death anniversary

MANILA, Philippines — The National Historical Commission of the Philippines' (NHCP) Museo ni Jose Rizal in Calamba, Laguna paid tribute to Doña Teodora Alonso on her 115th death anniversary on Sunday. In a post shared by the NHCP on Facebook, the museum, which is also a shrine, said it conducted "a simple but meaningful" offering of flowers at her grave. "Doña Teodora served as an inspiration to Jose Rizal to study medicine and become an expert in treating eye diseases," it s

YOUNG WEIGHTLIFTERS

Speaker throws support behind agricultural insurance measure

SPEAKER and Isabela Rep. Faustino G. Dy III said House Bill No. 10365, which seeks to strengthen the Philippine Crop Insurance Corp. (PCIC) by expanding the scope of agricultural activities that may be granted coverage, will help more farmers avoid total losses from a single calamity.

Clark Food Hub targeted for partial operations by end-2027

THE DEPARTMENT of Agriculture (DA) said on Sunday the P4-billion Clark National Food Hub is expected to start partial operations before the end of 2027. The DA signed agreements with Food Terminal, Inc. (FTI) and Clark International Airport Corp. aimed to cover the mega food hub’s funding, development, and operations over 40 hectares of the […]

Tax-exempt P350,000 income needs safeguards against ‘bracket creep’

TAX EXPERTS said the proposed tax-exempt threshold of P350,000 is vulnerable to the effects of inflation, which would serve to erode the tax relief it promises, and called for safeguards against “bracket creep.”

Prices frozen in parts of Bulacan, Cavite after calamity declaration due to monsoon

THE Department of Trade and Industry (DTI) said it froze prices in parts of Bulacan and Cavite that had been placed under a state of calamity following the constant rains brought about by the southwest monsoon. “The DTI reminds the public that a price freeze on all basic necessities is in effect in areas covered […]

Budget release rate hits 88.5% in July

THE Department of Budget and Management (DBM) said it had released 88.5% of the original 2026 budget by the end of July. According to the DBM Status of Allotment Release report, the releases amounted to P6.012 trillion out of the original budget of P6.793 trillion, leaving P781.082 billion undistributed. The release rate at the end […]

DoE hopes planned P19.7-B Maharlika investment in NGCP closes this year

THE Department of Energy (DoE) said it hopes that the plan by Maharlika Investment Corp. (MIC) to invest P19.7 billion in the National Grid Corp. of the Philippines (NGCP) will conclude this year. Energy Secretary Sharon S. Garin told reporters last week that the DoE will check on the progress of the deal between MIC […]

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