Philippines Business News
Local business and financial news scraped every 4 hours from BusinessWorld, PhilStar, Manila Times, Rappler, and more.
2358 articles from BusinessWorld
Vape tax system issues raised
A LAWMAKER on Tuesday flagged the two-tier tax system imposed on vape and other alternative nicotine products and its weak enforcement as major challenges in curbing illicit trade, saying tax rates alone cannot solve the problem. Marikina Rep. Romero “Miro” S. Quimbo, who chairs the House Committee on Ways and Means, raised concerns over the […]
Read more →Ombudsman exceeds 2025 conviction
THE Office of the Ombudsman’s conviction rate before the Sandiganbayan rose to 65.52% as of June 30, exceeding the 42% rate recorded in 2025, as it amended rules to speed up case proceedings. Assistant Ombudsman Luis Gonzaga S. Bonoan, Jr. disclosed the figures on Tuesday at a House of Representatives Appropriations Committee hearing on the […]
Read more →Lawmaker flags zero capital outlay for CoA 2027 budget
A LAWMAKER on Tuesday questioned the zero allocation for the Commission on Audit’s (CoA) capital outlay under the proposed 2027 national budget, saying the lack of funding for technology could weaken the agency’s efforts to combat corruption. Party-list Rep. Percival “Perci” P. Cendaña raised the concern during the House Appropriations Committee budget hearing, pointing out […]
Read more →House passes stronger workplace safety bill on second reading
THE House of Representatives on Tuesday approved on second reading a measure seeking to strengthen workplace safety standards and hold employers accountable for willful or grossly negligent violations that result in serious injury or death. In a statement, Cavite Rep. Ramon “Jolo” B. Revilla III said House Bill No. 10559 seeks to strengthen the country’s […]
Read more →SC limits Flying Risk Pay to flight-related personnel
THE Supreme Court (SC) has ruled that Flying Risk Pay (FRP) may only be granted to personnel whose regular duties involved or are directly connected with aerial and flight operations. The SC en banc in a Jan. 21 decision upheld with modification the Commission on Audit’s (CoA) disallowance of P323,579.50 in FRP paid to Civil […]
Read more →DMW strengthens anti-illegal recruitment drive
THE Department of Migrant Workers (DMW) on Tuesday warned illegal recruiters that the agency has ongoing law enforcement efforts, urging applicants to take more caution. Migrant Workers Secretary Hans Leo J. Cacdac urged applicants to be cautious in choosing their recruitment agencies following the arrest of an illegal recruiter from New Zealand in Iloilo. He […]
Read more →DoH, PGH to help ease NKTI pressure amid leptospirosis surge
THE Philippine General Hospital (PGH) is ready to accept patients from the National Kidney and Transplant Institute (NKTI), which faces full bed capacity, Malacañang said on Tuesday, following a rise in leptospirosis cases due to widespread flooding. Palace Press Officer Clarissa A. Castro said President Ferdinand R. Marcos, Jr. had directed the Department of Health […]
Read more →DoST’s 2027 budget could help over 67,000 scholars
THE proposed 4.3% increase in funding for the Department of Science and Technology’s (DoST) scholarship programs is expected to support 67,504 scholars nationwide next year, the Department of Budget and Management (DBM) said. In a statement on Tuesday, the DBM said that the budget of the DoST Scholarship Programs is programmed at P8.67 billion under […]
Read more →Toyota Motor PHL remits P23.66B in first seven months
TOYOTA Motor Philippines Corp. (TMP) remitted P23.66 billion to the Bureau of Customs (BoC)-Port of Batangas in the first seven months, making it the port’s largest contributor to import revenue collections. The company’s remittances accounted for 16.4% of the port’s total collections during the January-to-July period, TMP said on Tuesday. “This substantial fiscal remittance represents […]
Read more →VFS Global enhances 3 visa centers, adds 1 mobile center in PHL
VFS GLOBAL, a visa and passport administration outsourcing company, has enhanced three visa application centers in Manila, Cagayan de Oro, and Davao while adding a mobile center in Bataan to improve visa application of Filipinos intending to travel to the United Kingdom. In a press release, the VFS Global said the premium visa application centers […]
Read more →Benguet placed under state of calamity over P1.07-billion damage
LA TRINIDAD, Benguet — The provincial government of Benguet has declared the province under a state of calamity, following disasters that have affected more than 15% of its population and disrupted over 30% of local livelihoods. The Sangguniang Panlalawigan approved the declaration during its 52nd regular session in Basil, Tublay on Monday, based on the […]
Read more →P25-M skyport to boost Nueva Vizcaya adventure tourism
BAYOMBONG, Nueva Vizcaya — A P25-million skyport in highland Ambaguio town in Nueva Vizcaya is set to break ground in the coming days, anchoring Nueva Vizcaya’s tact to make paragliding and other adventure sports major tourism attractions in the province. Ambaguio town received P20 million after winning the Tourism department’s Tourism Champions Challenge in 2024, […]
Read more →PHL stocks slide as Middle East conflict continues
PHILIPPINE SHARES closed lower on Tuesday as the lack of a resolution to the Middle East conflict and a weak peso continued to drag sentiment. The Philippine Stock Exchange index (PSEi) dropped by 0.98% or 61.15 points to close at 6,190.23, while the broader all shares index fell by 0.65% or 22.45 points to end […]
Read more →3.7-M housing backlog not expected to clear by 2028
THE GOVERNMENT’s housing targets are insufficient to clear the estimated 3.7-million housing backlog by 2028, and will require robust private-sector production, according to the Department of Human Settlements and Urban Development (DHSUD).
Read more →Saudel exits PAR but still enhances southwest monsoon, says PAGASA
Typhoon Saudel, formerly locally known as Obet, has exited the Philippine Area of Responsibility (PAR), but it is still expected to enhance the southwest monsoon, bringing thunderstorms over Luzon, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) on Tuesday. Saudel exited PAR at around 9:30 p.m. Monday and was located 1,180 kilometers […]
Read more →Moody’s affirms Philippines’ investment grade credit rating
MOODY’S RATINGS on Monday affirmed the Philippines’ investment grade credit rating with a “stable” outlook on expectations that the country’s fiscal position will stabilize as the economy gradually recovers and the government continues its fiscal consolidation efforts.
Read more →Early action may curb El Niño inflation
EARLY MEASURES to protect agricultural production from what could be the worst El Niño on record could help prevent supply disruptions from fueling inflation, a Bangko Sentral ng Pilipinas (BSP) official said on Monday.
Read more →Delayed allotments slow infrastructure rollout
THE DEPARTMENT of Budget and Management (DBM) said delayed allotment releases slowed the implementation of infrastructure projects, with their obligation rate reaching only 20% to 30% in the first half, well below the expected 50%. Acting Budget Secretary Kim Robert C. De Leon said most government agencies were on track in implementing their projects, but […]
Read more →Philippines allocates P7.5 billion to eliminate nontechnical system losses
THE PHILIPPINE government is stepping up efforts to reduce electricity losses, allocating about P7.5 billion to curb nontechnical losses while developing a plan to address technical losses.
Read more →Filipinos just above poverty line remain vulnerable
MANY FILIPINO HOUSEHOLDS that recently escaped poverty remain at risk of falling back below the poverty line as elevated food and energy prices continue to erode their purchasing power, analysts said.
Read more →SEC eyes raising stockbrokers’ P100-million capital requirement
THE Securities and Exchange Commission (SEC) is considering raising the P100-million minimum capital requirement for stockbrokers as it reviews whether the decades-old threshold remains adequate, its chairman said. “We may be thinking of increasing even the P100 million because the P100 million was a 2001 figure,” SEC Chairperson Francisco Ed. Lim told reporters on Monday. […]
Read more →Emperador re-enters FTSE index, settles ELS shares for P1.4 billion
LISTED liquor producer Emperador, Inc. has re-entered the FTSE Global Equity Index Series (GEIS) as a Small Cap constituent, as the company separately agreed to settle part of its equity-linked securities (ELS) through a P1.4-billion cash payment instead of issuing common shares. “EMI is the only Philippine company newly added to the FTSE Small Cap […]
Read more →PREIT sees revenue staying at 51% of year-ago level as SIPCOR seeks CA relief
VILLAR-LED Premiere Island Power REIT Corp. (PREIT) expects revenues to fall by 49% from last year as lease agreements with S.I. Power Corp. (SIPCOR) remain suspended amid an ongoing dispute over the power producer’s operating permits. “While the suspension remains in effect, the Corporation’s revenue is expected to remain reduced at approximately 51% of the […]
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