Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
20 articles from BusinessWorld Economy
Davao DPWH officials charged over ‘ghost’ farm road projects
THE Department of Agriculture (DA) said it lodged graft, malversation, and falsification charges against multiple officials of the Department of Public Works and Highways (DPWH) in Davao Occidental, alleging that they improperly certified eight farm-to-market road (FMR) projects as complete. In a statement, the DA said it discovered eight projects valued at P94 million in […]
Read full article →Visayas grid on yellow alert again
THE Visayas grid was placed on yellow alert once more on Thursday, with the region’s power supply remaining under pressure in the face of surging demand due to the hot weather, with a number of power plants still offline. The National Grid Corp. of the Philippines (NGCP) said the yellow alert for the Visayas was […]
Read full article →Hybrids, EVs gain momentum as energy crisis deepens — Deloitte
CAR OWNERS and potential buyers are expressing growing interest in hybrids and electric vehicles (EVs), according to a consumer study conducted by Deloitte. Citing its 2026 Global Automotive Consumer Study, Deloitte found that in the Philippines, 34% of survey respondents expressed interest in the electrified segment, compared with 27% a year earlier. The top reasons […]
Read full article →DA further signals intent to cap pork belly prices at P380 per kilo — SINAG
GOVERNMENT consultations with farmers on capping the price of domestic pork belly (liempo) appeared to confirm the Department of Agriculture’s (DA) intent to set a P380 per kilo price ceiling for the commodity, an industry association said. Samahang Industriya ng Agrikultura (SINAG) Executive Director Jayson H. Cainglet said the group discussed the proposed price cap […]
Read full article →PHL enjoys ‘growing reputation’ for fiscal transparency — survey
THE PHILIPPINES emerged as a top performer in Southeast Asia for fiscal transparency, according to a survey conducted by the International Budget Partnership (IBP), the Department of Budget and Management (DBM) said. In a statement on Thursday, the DBM said the Philippines scored 76 out of 100 in fiscal transparency in the 2025 Open Budget […]
Read full article →‘Slum’ share of PHL urban housing estimated at 40%
LOW-QUALITY Philippine urban housing was estimated at 40% of the total, higher than the corresponding shares for India or Indonesia, the Asian Development Bank (ADB) said in a working paper. Citing significant housing challenges faced by the Philippines, the ADB said the other dimension of the housing problem is inadequacy, or the shortage of available […]
Read full article →BCDA positioning Bataan as site for EV-charger manufacturing
THE Bases Conversion and Development Authority (BCDA) said it evaluated the 200-hectare Morong Discovery Park in Bataan for its potential to host electric vehicle (EV) manufacturers. BCDA Executive Vice-President Gisela Kalalo and Vice-President for Strategic Projects Management Randy Viacrusis visited the site along with provincial officials, V-Green Global Charging Station Development Corp., and VinFast Electric […]
Read full article →Regulatory mismatches hindering biofuel industry dev’t — think tank
THE Congressional Policy and Budget Research Department (CPBRD) of the House of Representatives said protectionism and rigid regulations are causing bottlenecks in the bioethanol industry. In a policy brief, the think tank found a “policy mismatch” between the objectives of the Biofuels Act of 2006 and the way it is currently being implemented by government […]
Read full article →MIC books P623-M net income in first quarter
PHILIPPINE sovereign wealth fund manager Maharlika Investment Corp. (MIC) posted a net income of P628.85 million in the first quarter. The state-run investment vehicle booked other comprehensive income of P693.29 million in the January-to-March period, bringing its total comprehensive income to P1.32 billion. Before tax, MIC’s earnings reached P628.85 million during the quarter. This came […]
Read full article →Safeguard duties imposed on imported meat, coffee, onions
THE Department of Agriculture said it imposed price-based special safeguard measures on 21 agricultural product categories, after import prices fell below established trigger levels. In Department Order No. 15 Series of 2026, Agriculture Secretary Francisco P. Tiu Laurel, Jr. requested the Bureau of Customs to collect additional duties on frozen poultry, pork, coffee preparations, and […]
Read full article →ADB willing to fund Mindanao Railway Project
THE ASIAN Development Bank (ADB) said it is ready to finance the Mindanao Railway Project, with the long-delayed rail line still needing a source of funding after China withdrew support. “We would be willing to fund it, if we were asked,” ADB Country Director for the Philippines Andrew Jeffries told BusinessWorld on Wednesday. Earlier this […]
Read full article →Modest DPWH budget request for 2027 signals flagship-project focus as gov’t prepares to exit
THE Department of Public Works and Highways (DPWH) said on Wednesday it is seeking about P215 billion in funding for 2027, with P200 billion needed to sustain ongoing flagship infrastructure projects. At a hearing of the Committee on Flagship Programs and Projects, Public Works Senior Undersecretary Emil K. Sadain said that of the 26 ongoing […]
Read full article →BSP warned against taking ‘aggressive’ policy stance during Middle East crisis
THE Bangko Sentral ng Pilipinas (BSP) should avoid aggressive policy tightening and keep its stance balanced between controlling inflation and supporting growth, an economist said.
Read full article →PHL’s much-reduced GOCC lineup still enmeshed in strategic sectors — OECD
THE PHILIPPINES has seen a sharp decline in the number of its state-owned enterprises (SOEs) over the past decade, though remaining government firms continue to control strategic areas of the economy, according to a report by the Organisation for Economic Co-operation and Development (OECD). “Between 2011 and 2024, the number of SOEs declined from 158 […]
Read full article →Visayas grid hit with another yellow alert
THE VISAYAS GRID was again placed under yellow alert on Wednesday due to the shutdown of several power plants, with industry groups raising concerns that plant outages have exceeded allowable limits. In an advisory on Wednesday, the National Grid Corp. of the Philippines (NGCP) said the Visayas grid was on yellow alert between 4 p.m. […]
Read full article →China bans PHL pork imports over swine fever
CHINA has banned imports of pigs, wild boars, and related products from the Philippines following reports of swine fever outbreaks received by the World Organization for Animal Health (WOAH). China’s General Administration of Customs and Ministry of Agriculture and Rural Affairs issued Announcement No. 66 on May 14, 2026, prohibiting direct or indirect imports from […]
Read full article →Food businesses deemed relatively more resilient during Persian Gulf crisis
THE FOOD industry is better positioned to withstand the impact of the Middle East crisis, as demand for food remains resilient despite rising prices and slowing economic growth, Jose Ma. A. Concepcion III of the Go Negosyo organization said. “If you are in the food and restaurant business, you have the ability to survive. Especially […]
Read full article →BIR simplifies business de-registration process
THE Bureau of Internal Revenue (BIR) said it streamlined procedures for the cancellation of business registrations. “From improving the ease of doing business and the ease of paying taxes, this reform completes the BIR’s support for businesses through every stage of the business life cycle,” BIR Commissioner Charlito Martin R. Mendoza said. “If we make […]
Read full article →Fishing households grow 18% but workforce ageing
FISHING HOUSEHOLDS increased 18.1% over the past decade, though the overall fishing workforce is ageing, the Philippine Statistics Authority (PSA) said. In total 897,575 households had members involved in fishing in 2022, according to preliminary PSA data, against 760,000 fishing households in 2012. The number of fisherfolk over 50 years old rose 47.3% to over […]
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