Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
2342 articles from BusinessWorld
Senators eye more electricity relief
THREE SENATORS are pushing for broader energy cost relief either through the total elimination of the charges or the removal of value-added tax (VAT) from residential electricity bills, as they welcomed the removal of the VAT on system loss charges. “The Senate will continue pushing for legislation that will reduce or totally remove the system […]
Read more →Federalist party leads BARMM polls
COTABATO CITY — The Bangsamoro Federalist Party ranked first in the outcome of the Sept. 14 elections for bloc representation in the 80-seat parliament in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Each of the more than 10 parties that participated in the elections anointed a bloc for the parliament and separate individual candidates […]
Read more →Palace refutes claims PHL-US deal on critical minerals was concealed
THE Palace on Tuesday rejected claims that the Philippines-US critical minerals memorandum of understanding (MoU) was concealed from the public, saying the agreement does not create legally binding obligations. Palace Press Officer Clarissa A. Castro said the Department of Environment and Natural Resources (DENR) released information on the signing on Feb. 7, three days after […]
Read more →No legal basis for Marcos’ resignation, Palace says
CALLS for President Ferdinand R. Marcos, Jr. to resign have no legal basis and are “absolutely delusional,” the Palace said on Tuesday amid renewed criticism from Vice-President Sara Duterte-Carpio’s camp. Palace Press Officer Clarissa A. Castro said Mr. Marcos’ remark during a press briefing over the weekend that he could not force anyone to love […]
Read more →House panel approves proposed subsidy for minimum wage households
THE proposed P12,000 annual subsidy for qualified minimum wage households should be viewed as an economic intervention that could also boost sales of small businesses, a lawmaker said as the measure was approved at the committee level. In a statement, Party-list Rep. Jude A. Acidre said that the proposed Pambansang Agapay sa Pamilya at Maliliit […]
Read more →333 housing units turned over in Valenzuela
PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday led the turnover of 333 housing units at Disiplina Village Arkong Bato in Valenzuela City for families relocated from flood-prone and other high-risk areas, the Palace said. The project is part of the government’s relocation program for informal settler families, according to Presidential Communications Office. Mr. Marcos said […]
Read more →DILG: Ex-Palace spox Roque’s asylum application denied
INTERIOR Secretary Juanito Victor “Jonvic” C. Remulla, Jr. said the asylum application of ex-presidential spokesperson Herminio “Harry” L. Roque, Jr.’s was denied, which the latter rejected as “fake news.” “His asylum bid was done. Harry Roque’s asylum bid was denied. Five months had passed,” Mr. Remulla said during a live briefing on Tuesday. “Once the […]
Read more →DPWH set to put retarding basins in Luneta Park next year
THE Department of Public Works and Highways (DPWH) is set to construct three retarding basins next year within Luneta Park to help mitigate flooding in Manila. “We (together) with the National Parks Development Committee agreed to put up three detention basins in Luneta Park,” Public Works Secretary Vivencio B. Dizon told reporters on Tuesday. These […]
Read more →PSEi sinks to two-week low as volatility persists
PHILIPPINE SHARES slid to an over two-week low on Tuesday as global market volatility due to tensions in the Middle East and their impact on inflation expectations continued to drag sentiment. The Philippine Stock Exchange index (PSEi) sank by 1.11% or 67.29 points to close at 6,007.78, while the broader all shares index dropped by […]
Read more →Leading Indian carrier IndiGo applies to offer PHL services
THE Department of Trade and Industry (DTI) said Indian low-cost airline IndiGo, that country’s top carrier by passenger totals, has applied with regulators to undertake direct flights to Manila from Mumbai and Delhi. In a statement on Tuesday, the DTI said IndiGo parent InterGlobe Enterprises has filed its application to offer the routes with the […]
Read more →Indian firms weighing P4B in PHL expansions
THE Department of Trade and Industry (DTI) said Indian companies currently active in the Philippines are considering investing a combined P4.2 billion to expand their information technology-business process management and electronics manufacturing operations. In a statement on Tuesday, it said the planned investments are expected to generate about 7,500 jobs in the Philippines. It said […]
Read more →Human rights track proposed to strengthen Philippine legal education
The University of the Philippines Institute of Human Rights (UP IHR) is proposing a 12-unit Human Rights Law track within the Juris Doctor program to help Philippine law schools produce lawyers equipped not only with legal knowledge but also with the skills, values and professional orientation needed to protect human dignity and advance social justice. […]
Read more →Fujifilm launches instax Pal 2 compact digital camera
FUJIFILM Corp. on Tuesday added two new products to its instax line: the palm-top digital camera instax Pal 2, and the instax Link WIDE 2 smartphone printer. The company said the two devices will be available in Japan early next month. Fujifilm Philippines, Inc. has also teased the products on its social media pages, which […]
Read more →Back-to-back wins underscore SM Hotels’ commitment to employee inclusion, engagement, growth
Global and industry honors spotlight the company’s commitment to diversity, inclusion, employee engagement, and people development SM Hotels and Conventions Corp. (SMHCC) has earned consecutive recognition from two distinguished award-giving bodies, affirming the company’s continued dedication in creating a workplace where people are empowered to grow, connect, and go beyond. SMHCC was named Diversity & […]
Read more →VST ECS strengthens enterprise portfolio, expands cybersecurity offerings through partnership with Akamai
VST ECS Phils., Inc., the country’s leading ICT distributor, is expanding its enterprise technology portfolio through a new partnership with Akamai Technologies, the cloud and security company that powers and protects businesses online. The appointment strengthens VST ECS’s portfolio with advanced cybersecurity and cloud capabilities, giving its channel partners and customers broader access to enterprise-grade […]
Read more →OFW remittances jump to seven-month high in July
By Katherine K. Chan, Reporter Money sent home by overseas Filipino workers (OFWs) rose to its highest monthly level this year as it hit over $3.2 billion in July, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday. Cash remittances coursed through banks grew by 1.9% year on year to $3.24 billion in July from […]
Read more →Peso hits new low, nears P63/$1
THE PESO closed at a fresh record low against the US dollar on Monday, nearing the P63 level as growing expectations of a US Federal Reserve rate hike and elevated global crude oil prices weighed on the local currency. The currency declined by 18 centavos to close at P62.86 versus the greenback from the previous […]
Read more →Blanket suspensions seen hurting workers, businesses in Philippines
REPEATED and often blanket suspensions of face-to-face classes and government work due to typhoons and heavy rains are causing economic losses beyond missed work and school days, with daily-wage earners, small businesses and students bearing much of the impact, analysts said.
Read more →Fuel prices seen rising further as Middle East conflict escalates
FUEL PRICES could rise further in the coming weeks as the intensifying conflict in the Middle East keeps global oil markets under pressure, analysts said, as Filipino motorists brace for another increase of more than P4 per liter this week.
Read more →House panel approves 2027 budget
THE HOUSE COMMITTEE on Appropriations on Monday approved the proposed P7.2-trillion national budget for 2027, clearing the way for plenary deliberations. Appropriations Committee Chairperson and Nueva Ecija Rep. Mikaela Angela B. Suansing said House Bill (HB) No. 10858 or the General Appropriations Act was approved without amendments during an executive committee meeting. Ms. Suansing is […]
Read more →Two Filipino films are Oscar-bound
IF THINGS go right, the Philippines will be represented in the Oscars by two movies, one as the country’s official entry to the Best International Feature Film category at the 99th Academy Awards, the other as Australia’s official entry. The Film Academy of the Philippines (FAP) has announced that Rafael Manuel’s Filipiñana has been selected […]
Read more →Ben&Ben brings The Traveller Across Dimensions to print
BEN&BEN frontmen Miguel Benjamin Guico and Paolo Benjamin Guico have brought the story of their album, The Traveller Across Dimensions, from music to print, releasing the paperback edition of their first book on Sept. 12 at the Manila International Book Fair (MIBF) at the SMX Convention Center Manila in Pasay City. The twins, both singers […]
Read more →KKR exits First Gen with P25.8-B stake sale
GLOBAL INVESTMENT firm Kohlberg Kravis Roberts & Co. L.P. (KKR) has sold its entire 19.9% economic interest in Lopez-led First Gen Corp. for about P25.77 billion, weeks after First Philippine Holdings Corp. (FPH) rejected KKR’s bid to acquire more shares in the power producer.
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