Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
10026 articles across all sources
No ‘leadership fund’ in 2027 budget — Ejercito
THE head of the Senate Finance Committee on Thursday said he would not allow “leadership funds” or last-minute budget insertions in the 2027 national budget, following the testimony of a former Public Works secretary that P24 billion had been earmarked for lawmakers in 2024. Senator Joseph Victor “JV” G. Ejercito, who heads the committee, said […]
Read more →Teodoro calls China’s move vs 100 Filipinos ‘blackmail’
PHILIPPINE Defense Secretary Gilberto C. Teodoro, Jr. on Thursday accused China of “blackmail” after Beijing said it had taken measures against more than 100 Filipinos over alleged illegal employment and residence, calling the move an attempt to interfere in Philippine law enforcement. “The action against 100 Filipinos is plain and simple extortion and blackmail,” Mr. […]
Read more →Ex-NLDC execs’ graft cases junked over delay
THE Sandiganbayan has dismissed graft cases against two former officials of the now-dissolved National Livelihood Development Corp. (NLDC) over the alleged misuse of P2.91 million in priority development assistance fund (PDAF), ruling that the Ombudsman’s delay violated their constitutional right to speedy disposition of cases. In a joint resolution promulgated on Aug. 7, the anti-graft […]
Read more →Hunger dips among beneficiaries
INVOLUNTARY hunger among Filipino families enrolled in the government’s flagship anti-hunger program dropped over a three-month period, the Department of Social Welfare and Development (DSWD) said on Thursday. At a Palace news briefing, Social Welfare Secretary Rexlon T. Gatchalian, citing a Social Weather Stations (SWS) survey commissioned by Globe Telecom, said hunger incidence among participants […]
Read more →Prosecution urges fair VP trial
THE House of Representatives prosecution panel on Thursday called for the Senate impeachment court to apply its rules fairly to both the prosecution and defense teams, as lawmakers flag what they described as attacks on the integrity of the impeachment proceedings. During a press briefing, Party-list Rep. and prosecution spokesperson Renee Louise M. Co said […]
Read more →VP Duterte asks QC court to quash grave threat charges
VICE-PRESIDENT (VP) Sara Duterte-Carpio has asked a Quezon City court to quash the grave threats case filed against her, the Department of Justice (DoJ) confirmed on Thursday, saying her status as an impeachable officer does not bar the filing of a criminal case before the Regional Trial Court (RTC). Prosecutor General Richard Anthony D. Fadullon […]
Read more →Marcos presses faster Sangley dev’t
PRESIDENT Ferdinand R. Marcos, Jr. has ordered the creation of a Joint Technical Working Group to fast-track the development of the Sangley Point International Airport (SPIA) in Cavite and cut red tape. Co-chaired by the Department of Transportation and the Philippine Reclamation Authority, the group is tasked with addressing project delays and ensuring reclamation activities […]
Read more →Meralco, PNP fight electricity theft
MANILA ELECTRIC Co. (Meralco) and the Philippine National Police (PNP) have partnered to address electricity theft and pilferage of electrical distribution facilities and materials. The two parties reaffirmed their mutual commitment in a recent meeting, attended by PCOL. Joseph Adelbert A. Aliño, PCOL. Laudemer N. Llaneta, PBGEN. Manuel J. Abrugena, Meralco Senior Vice-President and Head […]
Read more →DoJ begins review of US extradition request for Quiboloy
THE Department of Justice (DoJ) is now reviewing the United States’ request for the extradition of Kingdom of Jesus Christ founder Pastor Apollo C. Quiboloy and two other respondents, after receiving the formal request from the Department of Foreign Affairs (DFA) on Aug. 7. “I would like to confirm that our office has received already […]
Read more →House OKs e-learning, Wi-Fi bills
THE House of Representatives approved a measure seeking to expand college students’ access to academic materials and internet connectivity on third and final reading. In a statement on Thursday, House Speaker and Isabela Rep. Faustino “Bojie” G. Dy III said House Bill (HB) No. 9532, or the proposed Universal Access to Digital Academic Learning Resources […]
Read more →NEA seeks law enforcement agencies’ help vs power pilferage
THE National Electrification Administration (NEA) on Thursday called on law enforcement agencies to assist in addressing power pilferage as they found approximately 40,000 consumers using electricity without meters. During the Senate Committee on Energy hearing on system loss, NEA Administrator Antonio Mariano C. Almeda said they would need the help of agencies such as the […]
Read more →ALI, Pag-IBIG expand housing access
AYALA LAND, INC.’S (ALI) residential brands Avida Land and Amaia Land have formalized a partnership with the Home Development Mutual Fund (Pag-IBIG Fund) to broaden homeownership opportunities for Filipino workers. Under a memorandum of understanding, ALI units and Pag-IBIG Fund sought to identify specific Avida and Amaia homes that will feature special offers for qualified […]
Read more →BIR limits co-op tax perks to CDA
THE Bureau of Internal Revenue (BIR) will only recognize compliance certificates issued by the Cooperative Development Authority (CDA) when granting tax incentives under the Philippine Cooperative Code to Cooperatives and Social Enterprise Authority (CSEA)-registered cooperatives, unless legislation provides otherwise. In Revenue Memorandum Circular No. 90-2026, the BIR said only a CDA issued by the Cooperative […]
Read more →Funding sought for proposed higher village pay
THE Department of Budget and Management (DBM) backed the proposed Magna Carta for Barangays but urged the Senate to address the funding source of the measure for the provision of higher salaries and benefits to village-level officials and employees. During the Senate Committee on Local Government hearing on the Senate bills for the magna carta […]
Read more →PAOCC flags costly steel radioactive scrap disposal
THE Presidential Anti-Organized Crime Commission (PAOCC) on Thursday raised concerns over the budget needed to comply with the proper disposal of radioactive materials found in steel manufacturing companies in the country. Speaking at the Senate Committee on Economic Affairs hearing on the domestic steel industry, PAOCC Executive Director Benjamin C. Acorda, Jr. said in one […]
Read more →Cordillera storm damage hits P1.7B
BAGUIO CITY — Damage to infrastructure across the Cordillera highlands from the combined effects of the enhanced southwest monsoon and tropical cyclones Maymay and Dolphin has reached P1.7 billion, with authorities still validating the extent of losses and expecting the figures to hike further. The Office of Civil Defense-Cordillera Administrative Region (OCD-CAR) said in its […]
Read more →Soldier dead, 2 companions wounded in Sulu ambush
COTABATO CITY — An Army corporal was killed while his two companions were wounded in an ambush in Barangay Tagbak in Indanan, Sulu on Wednesday. Officials of the Sulu Provincial Police Office and the military’s Western Mindanao Command (WestMinCom) told reporters on Thursday that the ambush victim Cpl. Aldrin A. Wanson, of the 41st Infantry […]
Read more →PSE index sinks to 6,200 range on profit taking
PHILIPPINE SHARES slid back to the 6,200 level on Thursday due to profit taking following the market’s climb and as a weaker peso weighed on sentiment. The Philippine Stock Exchange index (PSEi) slumped by 1.23% or 78.39 points to close at 6,288.25, while the broader all shares index fell by 0.77% or 26.76 points to […]
Read more →Angat Dam on track to return to normal levels by year’s end
THE Metropolitan Waterworks and Sewerage System (MWSS) said Angat Dam is on track to return to normal water levels by the end of this year, adding that it is hoping the refilling of the reservoir will help cushion the impact of El Niño. In a statement on Thursday, MWSS said the dam’s water level has […]
Read more →PHL fuel stockpiling plan attracts potential Middle Eastern partners
POTENTIAL PARTNERS from the Middle East have expressed interest in participating in the Philippine plan to build a strategic fuel reserve, the Department of Energy (DoE) said. Energy Secretary Sharon S. Garin said: “When we met with Japan for regional stockpiling, some Middle Eastern countries were there and they were interested in joining the project […]
Read more →Gov’t counting on GOCC subsidies to fall 27.6% to P191.8 billion in 2027
BUDGETARY SUPPORT for government-owned and -controlled corporations (GOCC) is expected to decline 27.6% to P191.8 billion in 2027, according to the Department of Budget and Management. According to the 2027 Budget of Expenditures and Sources of Financing (BESF) funding for government corporations and entities is projected to fall by about P73.1 billion from P264.9 billion […]
Read more →BIR eases early-withdrawal PERA rules
THE Bureau of Internal Revenue (BIR) said it eased the rules on premature withdrawals from Personal Equity and Retirement Accounts (PERA), limiting the 20% penalty to income attributable to the portion actually withdrawn. In Revenue Memorandum Circular (RMC) No. 91-2026, the BIR clarified that only the gross income earned attributable to PERA assets that are […]
Read more →Strong PHL demand for US dairy seen continuing
THE US Dairy Export Council (USDEC) said on Thursday that it expects strong Philippine demand for US dairy products to continue. Speaking on the sidelines of a trade seminar organized by the USDEC in Makati, Dali Ghazalay, USDEC regional director for Southeast Asia, told reporters that the US exported nearly 143,000 metric tons of dairy […]
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