Philippines Business News

Bank secrecy reform could boost investor confidence — political analysts

AMENDING the Philippines’ decades-old Bank Secrecy law could strengthen investor confidence by improving transparency, helping recover unpaid taxes and unexplained wealth, and reinforcing the country’s financial integrity, analysts said.

PAGASA warns of more monsoon rains

THE southwest monsoon was expected to bring heavy rainfall to parts of western Philippines over the next four days, although the overall risk of significant disruptions remained low, the state weather bureau said on Monday. In a forecast issued at 3 p.m. on Monday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said Occidental […]

P3.7B in Taguig projects ‘wasted’

SENATOR Panfilo “Ping” M. Lacson on Monday said the government might have wasted P3.71 billion on infrastructure projects tied to alleged illegal reclamation activities along Laguna Lake in Taguig City, citing findings from an investigation conducted by his staff. “Based on official records and our investigation, the total cost of identified completed, ongoing and suspended […]

Gov’t told to hasten repair of storm damage

SENATOR Francis Pancratius N. Pangilinan on Monday asked the Department of Public Works and Highways and the Department of Agriculture (DA) to conduct immediate assessment and repairs of damaged agricultural infrastructure following recent typhoons. In a press statement, Mr. Pangilinan, who chairs the Senate Committee on Agriculture, called for the quick restoration of farm-to-market roads, […]

PHL, Brunei high courts ink deal

THE Supreme Courts (SC) of the Philippines and Brunei have partnered in pursuit of a stronger judicial training as emerging legal issues, such as artificial intelligence (AI), cybercrime, trafficking and climate-related disputes, require greater cross-border collaboration. Chief Justice Alexander G. Gesmundo said the rapid pace of change requires judges and court personnel to engage in […]

Ramon Magsaysay 2026 awardees named

SINGAPOREAN diplomat and academic Tommy Koh, Bangladeshi social development worker Runa Khan, and Myanmar human rights advocate Bo Kyi have been named recipients of the 2026 Ramon Magsaysay Award, Asia’s premier prize for public service and leadership. The Ramon Magsaysay Award Foundation (RMAF) recognized the three for their contributions to diplomacy, community development, human rights […]

Palace warns of legal action vs theft of pumping station parts

MALACAÑANG on Monday condemned the theft of critical components from Metro Manila’s pumping stations, warning perpetrators will face sanctions for sabotaging government flood-mitigation infrastructure. In a video statement on Monday, Palace Press Officer Clarissa A. Castro said the theft of parts has disrupted the operations of several pumping stations across Metro Manila. This comes as […]

Palace defends Marcos’ honorary law degree

THE Presidential Palace on Monday defended President Ferdinand R. Marcos, Jr.’s honorary Doctor of Laws degree from the Pamantasan ng Lungsod ng Maynila (PLM), saying critics misunderstood the purpose of an honoris causa award. “The title honoris causa is an honorary degree. It is a recognition or honor given to a person who has reached […]

JICA to turnover Imus retarding basin to Cavite, DPWH says

THE Japan International Cooperation Agency (JICA) is set to turnover the Imus retarding basin to the provincial government of Cavite on Tuesday, the Department of Public Works and Highways (DPWH) said. The project, developed by DPWH and JICA under a comprehensive flood management masterplan, aims to help protect Cavite from severe flooding, it said in […]

San Roque Dam in Pangasinan breaches spilling level, but gates remain closed

URDANETA CITY, Pangasinan — San Roque Dam’s water level breached its mandatory spilling level on Monday, but the National Power Corp. (NPC) said all spillway gates remain closed and there are no plans to open them. NPC Dam Management Division Manager Teresa Serra reported that the reservoir elevation reached 280.52 meters above sea level (MASL) […]

More soldiers deployed to BARMM for poll duties

COTABATO CITY — The Army’s 10th Infantry Division (ID) on Sunday dispatched two more units to help secure polling sites in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) during the Sept. 14 parliamentary elections. The commander of 10th ID, Major Gen. Alvin V. Luzon, personally led Sunday’s send-off rites for their 67th Infantry Battalion […]

Diesel prices set to fall nearly P4 per liter

OIL COMPANIES are expected to cut diesel prices by as much as P3.83 per liter, according to industry announcements. In separate advisories on Monday, the companies announced a fresh round of rollbacks starting on Tuesday, Sept. 1. Seaoil Philippines, Inc. will cut pump prices by P0.32 per liter for gasoline, P3.83 for diesel, and P3.84 […]

DA proposes geofencing 3-M hectares as renewables encroach on farmland

AGRICULTURE Secretary Francisco P. Tiu Laurel, Jr. proposed geofencing around 3 million hectares of agricultural land, particularly areas planted to rice, to prevent losing key growing areas to solar farms. Mr. Laurel met with Energy Secretary Sharon S. Garin to discuss ways to expand solar energy capacity without losing land deemed critical to food production. […]

Philguarantee targets guarantees for 10,000 more MSMEs this year

THE Philippine Guarantee Corp. (Philguarantee) is hoping to support an additional 10,000 micro, small and medium enterprises (MSMEs) this year through its loan guarantee program. Philguarantee President and Chief Executive Officer Alberto E. Pascual said: “Our growth is of course correlated with the growth of MSME lending by our partner banks and financial institutions. So […]

Gov’t budget utilization hits 94.6% at end of July

GOVERNMENT agencies posted a cash utilization rate of 94.6% at the end of July, running ahead of the 94% year-earlier pace, the Department of Budget and Management (DBM) said. In its latest Notice of Cash Allocations (NCAs) Utilization Report, the DBM said the National Government, local government units (LGUs), and government-owned and -controlled corporations (GOCCs) […]

Favorable Q2 weather behind agri PPI decline

THE continuing decline of the producer price index (PPI) for agriculture is thought to have been driven by favorable weather in the second quarter, which boosted supply and pulled down farmgate prices, former Agriculture Secretary William D. Dar said. Mr. Dar said the trend may have been arrested in the coming quarters due to the […]

46 Marcos-era ecozones projected to attract P141.2B worth of investments

THE 46 economic zones proclaimed during the Marcos administration are expected to attract P141.2 billion worth of investments and generate nearly 189,000 jobs, according to Executive Secretary Ralph G. Recto. In a statement on Monday, Mr. Recto said four-newly signed proclamations covering economic zones in Cavite, Batangas and Negros Oriental are expected to generate nearly […]

Construction board, DMW in deal to upskill overseas construction workers

THE Philippine Overseas Construction Board (POCB) signed a memorandum of agreement (MoA) with the Department of Migrant Workers (DMW) to help upskill construction workers overseas. The MoA establishes a framework for closer collaboration between the two parties in promoting workforce preparedness, industry development, market access, and international engagement for the construction sector, the Department of […]

Interisland infra upgrades seen as key to unlocking domestic trade

IMPROVING domestic trade will hinge on upgrading inter-island infrastructure and lowering transport costs, analysts said.

The countdown to the Dec. 31 e-invoicing deadline

Sept. 1 means one thing to many Filipinos: Christmas magic is in the air. In the Philippines, the start of the -ber months triggers the playing of Christmas songs, the festive lighting of malls and other establishments, and holiday countdowns. Back-to-back family gatherings and gift shopping will fill calendars. But for taxpayers covered by the […]

Trump weighs "mow the lawn" strategy to counter Iran in Strait of Hormuz

Euro rates and inflation are out of sync — BofA sees opportunity

Oil price rollback set in first week of September

Motorists will get some relief at the pump Tuesday.

BoE’s Bailey warns AI models could disrupt financial markets