Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
1846 articles from BusinessWorld
Philippines’ fiscal deficit-to-GDP ratio to further narrow until 2027
THE PHILIPPINES’ fiscal deficit-to-gross domestic product (GDP) ratio will likely narrow until 2027 as the government’s tax reforms are expected to boost revenue mobilization, the ASEAN+3 Macroeconomic Research Office (AMRO) said.
Read more →Hydrogen seen as long-term energy solution for Philippines but high costs remain a barrier
GREEN HYDROGEN could bolster the Philippines’ energy security over the medium to long term, but high costs remain a major hurdle to its development, analysts said.
Read more →MGEN starts MTerra Solar Phase 1 commercial operations
MERALCO POWERGEN Corp. (MGEN), the power generation arm of Manila Electric Co. (Meralco), has started commercial operations for the first phase of its P200-billion MTerra Solar Project. In a statement on Thursday, MGEN said MTerra Solar Phase 1 declared commercial operations on Aug. 26 following the issuance of the final certificate of approval to connect […]
Read more →7-Eleven PHL says 5,000 stores likely this year
LISTED Philippine Seven Corp. (PSC), the exclusive licensee of the 7-Eleven convenience store brand in the Philippines, said it expects to reach 5,000 stores by yearend despite external headwinds. “We’re still upbeat about our business model even in these times,” PSC Chairman Jose Victor P. Paterno told reporters on the sidelines of an event on […]
Read more →AREIT taps capital markets veteran as COO
AREIT, Inc. has appointed Eduardo Javier “Javi” P. Carballo as chief operating officer (COO) as the real estate investment trust (REIT) expands its portfolio and financing capabilities. In a statement on Thursday, AREIT said Mr. Carballo will assume the post on Sept. 7 and report to President and Chief Executive Officer Alberto “Albert” M. de […]
Read more →PAL takes delivery of fourth Airbus A350-1000
FLAG CARRIER Philippine Airlines (PAL) has taken delivery of its fourth Airbus A350-1000 as part of its long-haul fleet modernization program. In a media release on Thursday, PAL said the aircraft, the fourth of nine A350-1000s ordered in 2023, arrived at Ninoy Aquino International Airport (NAIA) on Wednesday. Registered RP-C3513, the aircraft will support the […]
Read more →AllHome president resigns less than a year into role
ALLHOME Corp. President and Chief Operating Officer Maribel N. Sibayan has resigned less than a year after she was appointed to lead the Villar family’s home improvement retail business. In a disclosure on Thursday, AllHome said Ms. Sibayan’s resignation took effect on Sept. 2. Ms. Sibayan was elected president and chief operating officer on Sept. […]
Read more →RLC targets 2031 completion for first two MIRA towers
RLC RESIDENCES, the residential unit of Gokongwei-led Robinsons Land Corp. (RLC), is advancing construction of its MIRA condominium project in Barangay San Roque, Quezon City, with its first two towers scheduled for completion in 2031. “With MIRA, we are completing the residential complex of RLC in this part of Quezon City. Construction activities are in […]
Read more →Quezon leads Gawad Urian with 10 nominations
WITH 10 NOMINATIONS, Jerrold Tarog’s movie Quezon leads this year’s pack of nominees for the 49th Gawad Urian. The Manunuri ng Pelikulang Pilipino released the list of nominations for the film awards on Tuesday. Quezon, produced by TBA Studios, is a historical drama about Philippine president Manuel L. Quezon and is the third and final […]
Read more →Federal Land sees 2026 sales, revenue targets within reach
FEDERAL LAND, Inc. expects to meet or exceed its sales and revenue targets for 2026, with its project timelines and expansion plans remaining on schedule, its president said. “Federal Land is on track to meet, if not exceed, its sales and revenue targets for the year,” Federal Land President Jose Mari H. Banzon told BusinessWorld […]
Read more →The Notebook: The Musical goes beyond the love story
THE music and lyrics of singer-songwriter Ingrid Michaelson and the Tony-nominated book by Bekah Brunstetter provide the solid foundation on which Theater Group Asia’s production of The Notebook: The Musical builds an immersive, emotional world.
Read more →EDOTCO deepens PHL expansion, names new country head
MALAYSIA-BASED digital connectivity infrastructure firm EDOTCO Group is expanding its presence in the Philippines, with a focus on infrastructure sharing and technology solutions partnerships. “The Philippines stands out as one of Southeast Asia’s most compelling digital infrastructure markets. Its strong economic fundamentals, rapid digital adoption and growing connectivity needs present a significant opportunity for EDOTCO […]
Read more →BSP may step in to stem price risks as peso tests fresh lows
THE BANGKO Sentral ng Pilipinas (BSP) is likely to intervene in the foreign exchange market to smoothen sharp swings that may add to inflation risks as the peso remains under pressure. Reyes Tacandong & Co. Senior Adviser Jonathan L. Ravelas said the BSP’s presence in the market will likely be focused on maintaining price stability […]
Read more →Facing scrutiny, SMC cites flood measures for Bulacan airport
SAN MIGUEL CORP. (SMC), through its unit San Miguel Aerocity, Inc. (SMAI), outlined flood-mitigation measures and engineering studies for the New Manila International Airport (NMIA) after online claims linked the Bulacan project to recent flooding. SMAI, the developer of NMIA, said the claims emerged following weeks of heavy rains but did not identify in its […]
Read more →BPI offers free car insurance, savings with auto loans
BANK of the Philippine Islands (BPI) is offering free car insurance coverage of up to five years with their auto loans for select models, alongside savings and other benefits. Under the BPI Dream More Deals campaign, customers can get waived fees of up to P50,000, discounted interest rates, and free one-year car insurance, the bank […]
Read more →Refusing to live within a lie
Václav Havel offers us a disturbing way of looking at societies that have become accustomed to the distance between what institutions say and what reality shows. The problem is not simply that governments or politicians sometimes lie. It is more troubling than that: people can know that something is untrue and yet continue to behave […]
Read more →PNB Holdings expands sustainability measures across P80.9-B property portfolio
PNB HOLDINGS Corp., the real estate arm of LT Group, Inc., is expanding sustainability and adaptive reuse initiatives across its Metro Manila property portfolio as it seeks to improve the efficiency and resilience of its commercial assets. “The shift reduces reliance on fossil fuel-based electricity across two major commercial assets in Metro Manila and adds […]
Read more →Peso rebounds on softer dollar after weak data
THE PESO rebounded on Thursday as the dollar eased on weak economic data out of the United States that tempered US Federal Reserve hike bets and a stronger Japanese yen. The currency gained 4.5 centavos to finish at P62.52 versus the greenback from its record-low close of P61.565 on Wednesday, data from the Bankers Association […]
Read more →Philippines pursues oil reserve deals with Saudi Arabia, Japan and UAE
THE Philippines is pursuing oil reserve partnerships with Saudi Arabia, Japan and the United Arab Emirates (UAE) as it seeks to expand its emergency fuel stockpiles, with a proposed Saudi-backed facility potentially holding 50 million barrels of oil. “Our plan is to keep on expanding up to 15 million [barrels],” Energy Director Rino E. Abad […]
Read more →Palace: Fiscal discipline to cushion peso weakness and risks from inflation
MALACAÑANG on Thursday said the government is relying on fiscal discipline and targeted public spending to help cushion the economy from inflation risks arising from the peso’s weakness and the war in the Middle East. “The recent weakening of the peso was brought about by brewed US dollar strength and rising global prices of oil,” […]
Read more →PHL revisits flood master plan as climate risks intensify
THE government is reviewing the country’s flood control master plan after recent severe weather exposed gaps in existing flood management measures, with Malacañang acknowledging that plans crafted by previous administrations were never fully implemented. “There was already a master plan as far back as the 1930s and 1940s,” Palace Press Officer Clarissa A. Castro told […]
Read more →State auditors flag P279M in child care funds
THE Department of Education’s Early Childhood Care and Development Council failed to account for P278.9 million in fund transfers to local governments despite the completion of the projects they financed, state auditors said, raising concerns over the agency’s monitoring of public funds.
Read more →Liquor makers oppose ‘substantial’ excise tax hike
LIQUOR manufacturers on Thursday opposed substantial increases in excise taxes on their products, warning that higher rates could hurt legitimate businesses, reduce government revenues, and encourage illicit trade. At a House of Representative Committee on Ways and Means hearing, Distilled Spirits Association of the Philippines (DSAP) President Olivia Limpe-Aw urged lawmakers to retain the existing […]
Read more →