Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
1493 articles from PhilStar Business
ABS-CBN shareholders OK P6 billion placement
Media giant ABS-CBN Corp. has received a P6-billion placement from the Lopez family and its new investor, increasing the company’s shares and adding seats to the boardroom.
Read more →ACEN takes in Dutch partner for solar project in India
Zobel-led ACEN Corp. is partnering with Netherlands-based Diamond India Renewables One B.V. for yet another solar power project in India.
Read more →Building tomorrow’s power grid
After 25 years, the Electric Power Industry Reform Act of 2001is back in the spotlight. The Philippines’ top energy leaders convened at a recent roundtable to judge EPIRA’s record after a quarter of a century.
Read more →China Bank Savings deepens support for educators
As the country celebrates National Teachers’ Month, China Bank Savings continues to strengthen its support for Filipino educators through financial wellness initiatives nationwide.
Read more →EPIRA at 25: The distribution utilities
The Electric Power Industry Reform Act of 2001 (EPIRA, RA 9136) turned 25 years old this year. I wrote a three-parts series last month in my column in BusinessWorld: “EPIRA at 25: More lights, less blackouts, fewer subsidies, lower prices?” (Part 1, Sept. 8), “EPIRA at 25” (Part 2, Sept. 15), and “EPIRA at 25: Goals reached, new issues for the future” (Part 3, Sept. 29).
Read more →Forex loans rise to $16.3 billion in Q2
Banks’ foreign currency loans rose by 5.6 percent to $16.31 billion in the second quarter from $15.44 billion in the previous quarter, driven mainly by stronger borrowing by exporters and other industries, the Bangko Sentral ng Pilipinas said.
Read more →Government debt piles up to P19.6 trillion in August
The national government’s outstanding debt climbed to a new record high of P19.61 trillion at the end of August as fresh borrowings and a weaker peso pushed up both domestic and foreign obligations.
Read more →Inflation seen at highest level in over three years
Inflation may have accelerated to as high as 7.4 percent in September, potentially the fastest pace in three-and-a-half years, as bad weather lifted food prices while costlier fuel and a weaker peso added to price pressures.
Read more →Inflation worries sink stocks to 10-month low
The local stock market sank to a fresh 10-month low amid growing concerns over rising inflation.
Read more →JTI backs unified tax on e-cigarettes
A proposed unified tax rate on e-cigarettes may help plug a loophole that provides an avenue for illicit traders to misdeclare higher-taxed products, while ensuring the government collects proper revenues, JTI Philippines said.
Read more →MGEN, VITRO to build RE-powered data centers
Meralco PowerGen Corp. and PLDT’s VITRO REIT Inc. are embarking on a strategic venture to develop data centers powered by renewable energy.
Read more →Philippines launches campaign to promote Kinampay ube
The Philippines’ Kinampay ube is on the rise as Japan’s next favorite, the Philippine Embassy in Tokyo said.
Read more →PHirst Park Homes merges with Century Properties
The Antonio family’s Century Properties Group Inc. has secured the approval of the Securities and Exchange Commission for its merger with PHirst Park Homes Inc., with CPG as the surviving entity.
Read more →ShopSM, Penshoppe, Bench among top Asian retailers
Local retail powerhouses ShopSM, Penshoppe and Bench made it to the inaugural Brand Conviction Index: Asia’s Top 100 Retailers.
Read more →Trade balance improves as deficit narrows to lowest in 15 months
The country’s trade deficit in August narrowed to its lowest level in over a year as exports grew faster than imports, according to the Philippine Statistics Authority.
Read more →British Chamber urges clarity on pork tariffs
Following the Department of Agriculture’s reported proposal to increase the tariffs on imported pork and frozen pork jowl, the British Chamber of Commerce Philippines echoed the statements of industry associations and urged more clarity on tariff rules to avoid inflationary pressures and shortage in supply, considering that local production remains under recovery due to the presence of the African Swine Fever.
Read more →Metro Manila water allocation cut as Super El Niño looms
Metro Manila’s water supply allocation will be reduced starting October as the government prepares for the potential impact of Super El Niño.
Read more →‘3 in 5 Pinoys want 5G service all the time’
At least three in five Filipinos are demanding 5G service all the time, wherever they go, from their network providers, and are willing to pay a premium for it.
Read more →Air France makes return trip to Manila
France’s flag carrier is resuming weekly flights between Manila and Paris in October, opening a direct service to Europe from the Philippines in time for holiday demand.
Read more →Alternergy raises P2 billion from maiden notes issue
Alternergy Holdings Corp. has wrapped up its maiden venture into the local debt market, raising P2 billion through the issuance of fixed-rate notes that drew strong investor demand.
Read more →DA lifts poultry import ban on Albania, Indiana
The Department of Agriculture has lifted its temporary import ban on Albania and the US state of Indiana following the resolution of their respective outbreaks of high pathogenicity avian influenza or bird flu.
Read more →‘Data residency law to drive up investments in data centers’
Requiring local storage of applications and information, even those held by the private sector, would encourage data center builders to move here and list publicly, industry players said.
Read more →DOE orders monthly fuel cost reports
Oil firms are now required to submit monthly reports on the cost components of liquefied petroleum gas and kerosene as part of the review of the excise tax suspension.
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