Philippines Business News

Financial consumer complaints up 72.6% in 2025

FINANCIAL consumer complaints surged by 72.6 percent last year amid wider use of digital financial services and awareness of avenues for redress, the Bangko Sentral ng Pilipinas (BSP) said. The central bank received and processed more than 120,000 new complaints through its Consumer Assistance Mechanism (CAM) last year, sharply higher than the 70,112 recorded in 2024 and the 19,181 posted in 2021. “The upward trend reflects greater public awareness of the BSP’s CAM channels, wider ad

Investors seen weighing ‘mixed clues’, war news

INVESTORS could trade cautiously this week as they digest the country’s weaker-than-expected economic growth and its impact on a Bangko Sentral ng Pilipinas (BSP) policy meeting near the end of the month. The benchmark Philippine Stock Exchange index (PSEi) ended last week at 6,290.35, up 0.86 percent from the previous week and snapping a two-week losing streak, but Philstocks Financial Inc. research manager Japhet Tantiangco said sentiment remained cautious following the latest growth dat

GOCC closures to free up funds for services - Go

CLOSING nonperforming government-owned and controlled corporations (GOCCs) will free up public resources that can be redirected to needed programs and services, a Cabinet official said. “We have over 100 GOCCs,” Finance Secretary Frederick Go said on Saturday. “I would say about 10 percent of them should be closed.” “As a matter of principle, GOCCs that can no longer effectively fulfill their mandate or unnecessarily drain public resources should be abolished, or th

Debt payments surge to P1.227T as of end-June

THE national government’s (NG) debt service bill jumped nearly 60 percent in the first half, Treasury data showed, reaching almost P1.23 trillion as principal repayments more than doubled from a year earlier. The government paid a total of P1.227 trillion, up 59.7 percent from the P768.11 billion recorded in January-June 25, as amortization more than doubled to P743.00 billion from P353.29 billion a year earlier. The largest amortization payments were recorded in February and April when pr

Of martyrdom and misinformation

CHINA has hailed as “martyrs” two Chinese coast guard sailors who were killed, presumably, during a confrontation with a Philippine vessel in the West Philippine Sea almost a year to the day. The sailors sacrificed their lives during a “rights defense operation” on Aug. 11, 2025, according to the China Martyrs Network, as quoted by Agence France-Presse. No details were divulged about the operation. But on the same day, a China Coast Guard cutter CCG 3104 collided with a C

As the world rediscovers 'The Odyssey,' disabled actors in Greece explore the pain of war

EPIDAURUS, Greece — As Christopher Nolan’s “The Odyssey” renews global fascination with Homer, a cast of disabled and non-disabled performers in Greece is staging the war’s other story. It’s not about the triumph of returning heroes, but the suffering they left behind. “The Trojan Women,” with a cast of 22, was staged at Epidaurus, the ancient open-air stone arena in southern Greece. It marked what organizers called the first fully accessible perfo

Diplomats' Perspective on Anhui: From Agricultural Province to Regional Economic "Growth Pole"

HEFEI, China, Aug. 9, 2026 /PRNewswire/ -- A news report from CRI Online: "This is a rare opportunity - we have come to the new engine of China's economic growth, Anhui." So said H.E. Mr. Robert Lee, Fiji's Ambassador to China, at an exchange event in Hefei on the 3rd, which brought together 15 diplomats from Ethiopia, Fiji, Latvia, Türkiye, Botswana and other countries for an in-depth dialogue with the province. Diplomats engage in dialogue with representatives of Anhui enterprises at the launc

FLOODS AGAIN

MARIKINA RIVER

Marcos orders heightened alert as rains persist

MANILA, Philippines — President Ferdinand Marcos Jr. has directed concerned agencies to remain on heightened alert amid continued heavy rains over the weekend that submerged some parts of Metro Manila and nearby provinces, Malacanang said. Presidential Communications Office (PCO) Undersecretary Claire Castro said the President closely monitored "the impact of the habagat (southwest monsoon), particularly the situation in flood-prone areas and the rising water levels in dams and reservoirs.

Manila mayor suspends classes on Monday

MANILA, Philippines — Manila Mayor Francisco "Isko" Moreno Domagoso ordered the suspension of classes in all levels in public and private schools on Monday, August 10. The mayor cited "inclement weather brought about the southwest monsoon enhanced by Tropical Cyclone Dolphin" as the reason for the suspension of classes upon the recommendation of the Manila City Disaster Risk Reduction and Management Department.

Sinolook Highlights the Growing Importance of High-Quality Base Oil in the Philippines' Lubricant and Automotive Sector

XIAMEN, China, August 9, 2026 /MarketersMEDIA/ -- The Philippines' automotive and industrial sectors are expanding at a pace that reflects the country's broader economic momentum. With vehicle sales consistently among the strongest in Southeast Asia, a growing motorcycle fleet that numbers in the tens of millions, and an industrial base that spans manufacturing, mining, shipping, and construction, the demand for high-performance lubricants is rising steadily across every segment of the Philippin

PCSO Lotto Results | August 9, 2026

Action Energy Company Reports H1 2026 Financial Results

KUWAIT CITY, Aug. 9, 2026 /PRNewswire/ -- Action Energy Company K.S.C.P. (AEC), listed on Premier Market of Boursa Kuwait (Bloomberg: ALFTAQA KK) (Reuters: ALFTAQA.KW), Kuwait's leading local partner for integrated upstream services, owner and operator of one of the youngest rig fleets in the region, announced its financial results for the first half ended 30 June 2026. Action Energy Company Rig Sheikh Mubarak Abdullah Al-Mubarak Al-Sabah, AEC Chairman, said: "H1 2026 reflects the resilience of

How to spot the Perseid meteor shower, a summer light show that promises to dazzle

NEW YORK — The Perseid summer light show is back — and viewing conditions are especially promising for the Northern Hemisphere. The meteor shower's peak Wednesday night into Thursday morning coincides with a total solar eclipse across Spain, Iceland and Greenland and a six-planet parade — though the best time to view the fireballs will come after totality. As many as 50 to 100 meteors per hour may be visible under ideal conditions, according to NASA. The American Meteor Society

GearUP and Escape from Tarkov Partner to Enhance Online Gaming Experience for the New Season

SINGAPORE, Aug. 9, 2026 /PRNewswire/ -- GearUP, a global game network optimization platform, and Escape from Tarkov, the acclaimed multiplayer tactical shooter, announced on August 4 a collaboration to help players enjoy a smoother and more reliable online experience as the game enters its new season. With players connecting from different regions around the world, maintaining stable and responsive online gameplay has become increasingly important. Through this collaboration, GearUP will provide

Many immigrants face deportation without a lawyer at their side in court

SACRAMENTO, California — Lawyer Kamalpreet Chohan ran her finger down a list of 57 names of people scheduled to appear during a morning of hearings at the immigration court in California's capital and pointed out one glaring absence. “None of these folks are represented,” she said. Chohan is the coordinator of a program that sends volunteer lawyers to immigration courts to assist people without representation and help them navigate the complicated legal system where the stakes

Ruvi AI Surpasses 60% of Phase 4 as AI Crypto Presale Continues Rapid Momentum Following Record-Breaking Phase 3

AI Blockchain Project Crosses Another Major Presale Milestone as Community Turns Its Attention Toward the Final Stretch of Phase 4 DUBAI, United Arab Emirates, Aug. 09, 2026 (GLOBE NEWSWIRE) -- Ruvi AIhas now surpassed 60% completion inPhase 4 of its token presale, marking another significant milestone for the AI-powered blockchain ecosystem following the rapid sellout of Phase 3 in less than a month. The latest announcement highlights the continued momentum behind the project as participation s

‘Govt reforms led to completion of infra projects’

MANILA, Philippines — Presidential Legislative Officer Joey Sarte Salceda on Sunday said the reforms that President Ferdinand Marcos Jr. had instituted led to faster completion of key infrastructure projects. He said the latest Department of Public Works and Highways (DPWH) reports indicated "improvements in several important categories." Based on DPWH’s quarterly physical report of operations, the fourth-quarter rate of bridge projects completed in accordance with plans and specific

Senate to resume work Monday — Gatchalian

MANILA, Philippines — Senate President Sherwin Gatchalian on Sunday said that the Senate will resume work on Monday following the suspension declared on Thursday due to heavy rainfall from Tropical Storm Maymay and the southwest monsoon. "Just to inform everyone that the Senate has work tomorrow - 10 a.m. impeachment and 4 p.m. session," Gatchalian said in a text message.

Nagasaki marks 81st atomic bomb anniversary as mayor says nuclear deterrence only increases risk

TOKYO — Nagasaki marked on Sunday the 81st anniversary of the US atomic bombing of the southwestern city, as the mayor called nuclear weapons "absolute evil,” denounced growing support for nuclear deterrence and called on the Japanese government to adhere to its three postwar non-nuclear principles. The anniversary coincided with Japanese Prime Minister Sanae Takaichi ’s government revising the country's defense policy to further bolster the military's offensive capability. Spe

Wildfire forces 20,000 evacuations in western Canada

VICTORIA — Canadian officials declared a state of emergency Saturday after a fast-moving wildfire in the western province of British Columbia forced the overnight evacuation of more than 20,000 people, including some who were airlifted to safety. Winds fanned the Bald Range wildfire to grow rapidly late Friday, pushing flames into the Summerland area and affecting communities throughout the surrounding valleys. "We know there have been significant losses of homes and property. We also know

International Equity Group Announces Expansion of Its Global Advisory and Wealth Management Services

LONDON, Aug. 09, 2026 (GLOBE NEWSWIRE) -- International Equity Group, a London-based wealth management and investment advisory firm, today announced the expansion of its global advisory and client service capabilities, supporting investors seeking diversified access to international financial markets while maintaining a relationship-led approach to wealth management. Headquartered in Canary Wharf, the firm has broadened its market coverage across Europe, the United States, and Asia, with additio

Iran Guards say won't reopen Hormuz without US meeting all Tehran's conditions

TEHRAN — Iran's Revolutionary Guards said on Sunday they would not reopen the Strait of Hormuz, vital to the world economy, until the United States met Tehran's conditions set out the day before, including compensation for war damages. Iran has imposed an effective blockade of the strait since the United States and Israel attacked in late February, and wants to charge tolls for passage, striking ships it accuses of attempting to circumvent its preferred route. Continued attacks in the wate