Philippines Business News
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320 articles from BusinessWorld
CoA issues OVP unmodified opinion
THE Commission on Audit (CoA) gave the Office of the Vice-President (OVP) an unmodified opinion for calendar year 2025, saying its financial statements were presented fairly in all material respects. “In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of OVP as at December 31, 2025, and its […]
Read more →DoJ seeks anti-extremism law
THE Department of Justice (DoJ) on Thursday said it is pushing for legislation specifically addressing nihilistic violent extremism (NVE), arguing that existing laws are not comprehensive enough to prosecute online grooming and exploitation linked to violent acts like the recent Tacloban school shooting. The proposal comes a day after a Senate hearing revealed the alleged […]
Read more →Camp says Romualdez a scapegoat
LEYTE REP. Ferdinand Martin G. Romualdez is being portrayed as a “convenient excuse and political scapegoat,” his camp said on Thursday, maintaining the former speaker had no links to the alleged anomalies in flood mitigation projects. In a statement, Elaine A. Atienza, spokesperson of Mr. Romualdez, said that no official from the Department of Public […]
Read more →Lawmaker rejects upper-middle income status
A LAWMAKER on Thursday questioned the World Bank’s reclassification of the Philippines as an upper-middle income country, asserting that it fails to reflect the true situation of workers who continue to receive low wages. In a statement, Party-list Rep. Antonio L. Tinio said that the classification is meaningless as long as workers’ earnings remain below […]
Read more →BIR clarifies rules for US-funded projects
THE Bureau of Internal Revenue (BIR) has clarified the tax treatment of contractors, grantees, and recipients funded by the US government (USG) in support of the Philippine criminal justice system. The circular was issued to define the scope of tax exemptions covering activities undertaken under the Letter of Agreement (LoA) on Narcotics Control and Law […]
Read more →Metro Pacific Water begins pipe works in San Jose del Monte
METRO PACIFIC Water (MPW), a subsidiary of Manuel V. Pangilinan-led Metro Pacific Investments Corp., has begun repair works and clearing critical pipelines in San Jose del Monte, Bulacan, following the exit of PrimeWater Infrastructure Corp. In a statement on Thursday, MPW said it addressed infrastructure problems, improving water supply for more than 3,500 households during […]
Read more →Mental health hotline gets upgrade through ePLDT system
THE National Center for Mental Health (NCMH), the lead institution for mental health care, has tapped ePLDT to improve its crisis hotline amid efforts to address the growing need for support. NCHM, through ePLDT’s technology, expanded its platform and allowed seamless calls and uninterrupted support during emergencies or operational disruptions. “As a long-time partner of […]
Read more →Senator flags bird strikes, pigeon racing as airport hazards
SENATOR Rafael T. Tulfo on Thursday flagged concerns surrounding the risks of pigeon racing and bird strikes to the aviation industry as birds’ migration season approaches. At a Senate Committee on Public Services hearing on the Magna Carta of Commuters, Mr. Tulfo sounded the alarm on the risks of bird strikes on flights, especially in […]
Read more →Unified 911 system to launch two satellite command centers in Mindanao
Two dialect-sensitive command centers in Mindanao will be rolled out this month under the Unified 911 system, expanding the reach of the country’s emergency network. “By placing command centers closer to the people and ensuring that emergency telecommunicators speak the local language, we remove barriers during the moments when every second counts,” said Department of […]
Read more →Tropical Depression Henry exits PAR; potential super typhoon may enter next week — PAGASA
Tropical Depression Henry, which brought heavy rainfall and gale-force winds to several areas, has exited the Philippine Area of Responsibility (PAR), according to the state weather bureau on Thursday. It also said a potential super typhoon may enter the PAR next week. Henry exited the PAR around 8 p.m. on Wednesday and is no longer […]
Read more →Heritage gives Filipino fashion accessories deeper value — FAMPh president
Filipino fashion accessories become more meaningful when they incorporate the country’s culture and heritage, Agsam Fashion Fern founder and Fashion Accessories Makers of the Philippines (FAMPh) President Gina Nebrida Ty said, urging greater support for local materials, artisans, and traditional craftsmanship. “You know that there’s Philippine heritage, but when I started getting immersed with NCCA, […]
Read more →From seedlings to savings: ACEN empowers Ilocos Norte farmers through financial literacy and digital banking
ACEN, through its wind energy projects in Ilocos Norte — the 81 MW North Luzon Renewables, 160 MW Pagudpud Wind, and 70 MW Capa Wind — has partnered with a leading community bank to equip farmers and seedling producers with financial management skills and access to relevant banking services. The initiative brought together farmers and […]
Read more →Philippines now an upper-middle income country, World Bank says
By Justine Irish D. Tabile, Senior Reporter The Philippines is now classified as an upper-middle income country (UMIC) by the World Bank, reflecting the economy’s broad-based expansion. The World Bank’s latest country income classification showed the Philippines posted a record gross national income (GNI) per capita of $4,850. This was higher than the GNI per […]
Read more →Philippine manufacturing PMI improves in June
By Justine Irish D. Tabile, Senior Reporter PHILIPPINE FACTORY activity continued to expand in June amid stronger output and new orders, S&P Global said on Wednesday. S&P Global Philippines Manufacturing Purchasing Managers’ Index (PMI) inched up to 50.9 in June from 50.8 in May, signaling a second consecutive month of modest improvement in operating conditions […]
Read more →Philippine GDP likely grew 2.6% in Q2, says UA&P
THE PHILIPPINE ECONOMY is expected to have further slowed in the second quarter, as gross domestic product (GDP) growth likely eased to 2.6% due to elevated inflation and weaker domestic demand, the University of Asia and the Pacific (UA&P) said. “The Philippine economy is posting early signs of recovery momentum, but the outlook remains constrained […]
Read more →Approved building permits edge up 0.8% in 2025
APPROVED BUILDING PERMITS inched up by 0.8% year on year in 2025, as construction activity moderated amid macroeconomic headwinds and the flood control mess in the second half of the year, analysts said.
Read more →NCR retail price growth slows to 2-month low in May
RETAIL PRICE GROWTH of general goods in Metro Manila grew to its slowest pace in two months in May, driven by an easing in prices of mineral fuels and lubricants, the Philippine Statistics Authority (PSA) said. Citing preliminary data, the PSA said the general retail price index (GRPI) in the National Capital Region (NCR) rose […]
Read more →Hotel101 enters Thailand with 770-room project
HOTEL101 Global Holdings Corp. is entering Thailand with its first hotel project in the country after signing definitive binding agreements with Thailand-based Origin Property PCL to jointly develop Hotel101-Bangkok, a 770-room property. In a statement on Wednesday, the Nasdaq-listed subsidiary of DoubleDragon Corp. (DD) said the project will rise on an 8,336-square-meter (sq.m.) site along […]
Read more →San Miguel unit gets ERC nod for P1.7-B transmission project
SAN MIGUEL Global Power Holdings Corp. (SMGP), the power generation arm of San Miguel Corp. (SMC), has secured regulatory approval to build a P1.7-billion dedicated transmission facility to connect the expansion of its Masinloc coal-fired power plant to the Luzon grid. In a 19-page decision, the Energy Regulatory Commission (ERC) authorized Masinloc Power Co. Ltd. […]
Read more →Proposed social media ban for minors may pose security, privacy risks
A PROPOSED social media ban for Filipinos under 16 years old may do more harm than good and still fail to keep them off the internet, with identity verification requirements also likely to create data governance issues, stakeholders said. Wayvent Innovations, Inc. President Emmanuel Caguimbal said infrastructure to bypass age restrictions is already a “mainstream […]
Read more →AI data center boom needs renewables — IBM Consulting
RENEWABLE ENERGY and battery energy storage systems will be critical to meeting the Philippines’ rising electricity demand from data centers as artificial intelligence (AI) adoption accelerates, according to an IBM Consulting executive.
Read more →BSP says wholesale CBDCs can reduce transaction costs, lags
CROSS-BORDER PAYMENTS, including remittances and institutional transfers, and financial securities settlement are among the most promising applications for a wholesale central bank digital currency (wCBDC) in the Philippines, the Bangko Sentral ng Pilipinas (BSP) said. A report on the central bank’s Project Agila, its pilot project to explore the potential introduction of wCBDCs in the […]
Read more →AI’s greatest defense value may lie in intelligence, not combat
MADRID — Artificial intelligence (AI) is already being used in military drones and defense planning, but industry executives said it may be most valuable for intelligence gathering and decision-making rather than autonomous weapons.
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