Philippines Business News
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2358 articles from BusinessWorld
28 witnesses remain in Romualdez probe
THE Office of the Ombudsman said 28 witnesses remain ready to testify in its investigation of former Speaker Ferdinand Martin G. Romualdez, signaling that recent witness recantations would not derail the case. “Recantation is not new in high-profile cases,” the Ombudsman said in a statement in Filipino on Thursday. “This is a classic pressure tactic. […]
Read more →Senate eyes economic recovery panel
THE Senate is planning to create an ad hoc committee to push economic recovery measures and support micro, small, and medium enterprises (MSMEs), Senate President Sherwin T. Gatchalian said on Thursday. “We want to focus on reinvigorating the economy. So, we’re creating an ad hoc committee solely to focus on that so that we will […]
Read more →Palace defends P180-M centers
MALACAÑANG on Thursday defended the proposed P180-million allocation per region for evacuation centers under the 2027 National Expenditure Program (NEP), saying the absence of specific locations in the budget proposal does not mean the projects lack an implementation framework. Palace Press Officer Clarissa A. Castro, citing the Department of Budget and Management (DBM), said the […]
Read more →Makati electric BRT project advances
THE P17.76-billion Makati electric bus rapid transit (BRT) project is advancing as the city government proceeds with the detailed evaluation of an unsolicited proposal, the Public-Private Partnership (PPP) Center said. Information from the PPP Center’s website showed that the Makati City government has informed the project’s private proponent, the Makati BRT Consortium, and the PPP […]
Read more →Testimony fuels call for VP trial attendance
VICE-PRESIDENT (VP) Sara Duterte-Carpio should attend her impeachment trial, the House prosecution panel said on Thursday, after witness Gina F. Acosta testified she transferred P125 million in confidential funds on the Vice-President’s orders. House prosecutor spokesman Ziaur-Rahman “Zia” A. Adiong said that Ms. Acosta’s testimony could not fully answer the questions surrounding the transfer because […]
Read more →PhilHealth chief to focus on efficient benefits disbursement
NEWLY APPOINTED Philippine Health Insurance Corp. (PhilHealth) Acting President and Chief Executive Officer Beverly Lorraine C. Ho said she will focus on balancing efficient benefit disbursement to ensure the improvement in universal healthcare. “I think, overall, we need to make sure that we are efficiently providing benefits to people. So, it has to be easy […]
Read more →MMDA charter overhaul sought
A LAWMAKER on Thursday called for an overhaul of the Metropolitan Manila Development Authority’s (MMDA) 31-year-old charter to clarify its powers and accountability in tackling Metro Manila’s persistent traffic, flooding and waste management problems. In a statement, Manila Rep. Joel R. Chua said that Republic Act No. 7924 leaves gaps in determining where the authority […]
Read more →BuCor personnel asked to secure firearms
THE Bureau of Corrections (BuCor) has reminded its personnel to properly handle and secure government-issued and privately owned firearms following recent fatal shooting incidents involving minors who gained access to firearms owned or possessed by adult relatives, the bureau said on Thursday. BuCor Director General Gregorio Pio P. Catapang, Jr. issued a memorandum directing authorized […]
Read more →DICT seeks jurisdiction over online platforms for content regulation
THE Department of Information and Communications Technology (DICT) said its anti-cybercrime division should be granted jurisdiction over social media platforms to effectively regulate violent content following a livestreamed shooting incident in Zamboanga on Tuesday. DICT Cybercrime Investigation and Coordinating Center Executive Director Renato A. Paraiso raised that their capacity to take down harmful social media […]
Read more →Tulfo questions low conviction rate for electricity theft
SENATE Energy Committee Chairperson Erwin T. Tulfo pressed the Philippine National Police Investigation Division for convicting only 21 individuals involved in power pilferage out of 469 cases since 2022. Mr. Tulfo raised during the Senate Energy Committee hearing on Aug. 20 that the number of convicted individuals in four years remains lower than 10% of […]
Read more →DBM told to protect P55-B potential funding for 2027 PERA hike
A LAWMAKER pressed the Department of Budget and Management (DBM) to secure the P55-billion funding for a proposed increase in the allowance of civilian government employees, saying the government should already act on the long-stagnant Personnel Economic Relief Allowance (PERA). In a statement on Thursday, Party-list Rep. Antolio L. Tinio said DBM officials confirmed during […]
Read more →P2.23-B tax evasion case filed vs Tarlac POGO
THE Bureau of Internal Revenue (BIR) on Thursday said it filed a P2.23-billion tax evasion case against a Bamban, Tarlac-based Philippine offshore gaming operator (POGO). The BIR said a case was filed against Hongsheng Gaming Technology, Inc. over “alleged underdeclaration of income, failure to declare the correct value-added tax (VAT), and failure to withhold and […]
Read more →Smuggled cigarettes seized in Maguindanao del Norte
COTABATO CITY — Policemen seized a big volume of Indonesian-made cigarettes, neatly piled inside a van-type truck, intercepted at a checkpoint in Barangay Bayanga Norte in Matanog, Maguindanao del Norte on Tuesday morning. Local executives and officials of the Maguindanao del Norte Provincial Police Office separately said on Thursday that policemen and Bureau of Customs […]
Read more →BIR sees administrative path to removing system-loss VAT
The removal of the value-added tax (VAT) on system loss charges may not require legislation if the collections are established as government-mandated pass-through charges outside taxable gross sales, the Bureau of Internal Revenue (BIR) said. BIR Commissioner Charlito Martin R. Mendoza said the Energy Regulatory Commission (ERC) had prepared a draft resolution addressing system loss […]
Read more →Foregone revenue total triggers calls to review effectiveness of some investment incentives
THE government’s tax incentive regime resulted in foregone revenue of P559.73 billion in 2025, or more than a third of that year’s fiscal deficit, according to budget documents.
Read more →Subic airport winning bidder could qualify for 16 years of 5% special tax — PPP Center
THE winning bidder for the Subic Bay International Airport (SBIA) project will receive fiscal incentives, including up to 16 years of a special 5% tax, to encourage long-term private sector investment, the Public-Private Partnership (PPP) Center said. “The concessionaire may qualify for a 5% Special Corporate Income Tax for up to 16 years from the […]
Read more →Recto encourages US investors to develop PHL skills base
THE government has invited US companies to “stay in the Philippines,” expand their operations, develop the talent base, and help the country move into higher-value segments of the supply chain.
Read more →ACEN RES marks fourth straight Stevie win with Gold-Silver-Bronze sweep
For the fourth straight year, ACEN RES reaped medals at the Stevie International Business Awards, this time winning Gold, Silver, and Bronze across different categories — in a field of 3,400 nominations from organizations in 78 countries all over the world. ACEN RES and its partner, Synergy Market Research and Consultancy, earned a Gold Stevie as the […]
Read more →Pag-IBIG, City Government of Naga help employees become homeowners
Pag-IBIG Fund and the City Government of Naga began turning over affordable homes to qualified city government employees who are acquiring their properties through Pag-IBIG Housing Loans. The turnover marks the first group of city employees to become homeowners through a partnership signed just two months ago to help public servants, particularly those in lower […]
Read more →Philippines’ BoP position swings to deficit in July
By Katherine K. Chan, Reporter The Philippines’ balance of payments (BoP) position swung to a deficit for the first time in three months in July, data from the Bangko Sentral ng Pilipinas (BSP) showed. According to central bank data released late on Wednesday, the country’s BoP position stood at a $1.47-billion deficit in July, a […]
Read more →Southwest monsoon rains to ease, may resurge by Sunday due to potential typhoon
Rains caused by the southwest monsoon are expected to lessen on Thursday as tropical depression Neneng continues to move away from the country, according to the state weather bureau. However, it noted that monsoon rains may be enhanced again by Sunday due to Tropical Storm Saudel, which is also likely to develop into a typhoon. […]
Read more →Peso nears P62 against US dollar
THE Philippine peso weakened against the dollar on Wednesday after touching a fresh intraday record low near the P62 level as escalating tensions in the Middle East heightened inflation and interest rate concerns.
Read more →Flood control back in spotlight as Metro Manila goes underwater
PEDESTRIANS waded through floodwaters while motorists cautiously drove through submerged roads in Metro Manila on Monday, as heavy southwest monsoon rains once again exposed the capital’s vulnerability to flooding.
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