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2358 articles from BusinessWorld
INTERIOR Secretary Juanito Victor “Jonvic” C. Remulla, Jr. on Wednesday called on Congress to tighten gun ownership and loose firearms laws amid renewed concerns over gun-related incidents in schools. “I call upon Congress to enact laws that will penalize gun owners for the non-safekeeping of their weapons,” Mr. Remulla told a livestreamed news briefing. The […]
Read more →A TOTAL of 10 flights were affected on Wednesday due to inclement weather brought about by the southwest monsoon (habagat), according to the Civil Aviation Authority of the Philippines (CAAP). Latest information from CAAP reported five domestic flights were canceled due to unfavorable weather, affecting 771 passengers. Meanwhile, CAAP reported that one flight executed a […]
Read more →THE Metropolitan Manila Development Authority (MMDA) is preparing 30 flood catchment sites, which will be partly funded by the Asian Infrastructure Investment Bank (AIIB), as the government seeks to improve the capital’s capacity to absorb intense monsoon rains. MMDA Chairman Romando “Don” S. Artes, Jr. said the projects would use nature-based solutions, including underground catchments […]
Read more →LA TRINIDAD, Benguet — Benguet capital, La Trinidad, was placed under a state of calamity on Aug. 18 following extensive damage caused by heavy rains from a typhoon and the continuing southwest monsoon. Mayor Roderick C. Awingan said the declaration, approved by the Sangguniang Bayan, was based on the recommendation of the Municipal Disaster Risk […]
Read more →BAGUIO CITY — Vegetable farmers reeling from floods and prolonged rains are facing double blow as crop losses mount while falling prices and a shortage of buyers further slash their already meager incomes, a farmers’ group said. The Kilusang Magbubukid ng Pilipinas (KMP) called for immediate production subsidies, free seeds and farm inputs, crop insurance […]
Read more →PHILIPPINE SHARES slid back to the 6,100 level on Wednesday as the peso tested new lows on fading hopes for peace in the Middle East. The Philippine Stock Exchange index (PSEi) slumped by 1.7% or 106.36 points to close at 6,158.34, while the broader all shares index fell by 1.29% or 44.47 points to end […]
Read more →THE Department of Budget and Management (DBM) said it released P1.855 billion in additional funding for the Philippine General Hospital (PGH), including P800 million for its Zero Balance Billing program. Of the total, P1.04 billion will support the provision of medical services, while the P800 million will be allocated through the Universal Health Care Fund […]
Read more →THE Public-Private Partnership (PPP) Center said its governing board approved a reorganization plan that will seek to strengthen its capacity to render technical assistance, evaluate projects, and oversee a growing number of PPP projects. The Center’s proposed optimization plan has been submitted to the Department of Economy, Planning, and Development (DEPDev) for endorsement to the […]
Read more →THE Sugar Regulatory Administration (SRA) said it will soon release three new high-yielding sugarcane varieties to help sugar farmers raise their incomes and productivity. Speaking at the Philippine Sugar Technologists Association’s Annual National Convention in Cebu City, administrator Pablo Luis S. Azcona said the SRA will also distribute organic fertilizer with beneficial microorganisms and provide […]
Read more →REGIONALIZATION RULES have allowed pork imports from parts of a source country unaffected by African Swine Fever (ASF), but the Philippines still needs to conduct border inspections to prevent infected meat from slipping through, hog raisers said. National Federation of Hog Raisers said the Department of Agriculture’s (DA) regionalization regime has allowed the flow of […]
Read more →THE Department of Finance (DoF) is recommending a one- to two-year delay in the implementation of the Real Property Valuation and Assessment Reform Act (RPVARA) to give local government units (LGUs) more time to prepare. Undersecretary Krystal Lyn T. Uy-Sia said the government must ensure that LGUs are operationally ready to implement the reform. “Our […]
Read more →BUILDING permit approvals dropped to a three-month low in June, driven by weak consumer demand and high borrowing costs, which weighed on residential projects even as business-related projects remained resilient. Citing preliminary data, the Philippine Statistics Authority (PSA) said building projects covered by the permits numbered 17,081 in June, down 0.3% from a year earlier. […]
Read more →THE Philippine Economic Zone Authority (PEZA) said Epson Precision Philippines, Inc. (EPPI) is expanding its facility in Batangas with a P40-million robotics manufacturing project. In a Facebook post on Wednesday, PEZA and EPPI signed a supplemental agreement on Aug. 13 for the company’s expansion, taking the company beyond its core printing equipment operation. The facility will […]
Read more →THE Energy Regulatory Commission (ERC) said it extended the suspension of the collection of green energy auction allowance (GEA-All) for four more months. In an advisory on Wednesday, the ERC said the collection of the GEA-All rate of P0.0371 per kilowatt-hour will be suspended until December. “This measure is being implemented to provide relief to […]
Read more →SHANGHAI/BEIJING — Shares in Unitree, China’s best-known humanoid robot maker, soared nearly six-fold in its Shanghai trading debut, in a landmark moment for the country’s robotics sector which has become a key battleground in the Sino-US tech war. Unitree, which competes with Hyundai Motor Group-owned Boston Dynamics and Tesla, has drawn global attention for its […]
Read more →Three tropical depressions are being monitored within and outside the Philippine Area of Responsibility (PAR), as the southwest monsoon brings intense rains over Luzon, according to the state weather bureau on Wednesday. The lone storm within PAR, Tropical Depression Neneng, was located 675 kilometers east of Itbayat, Batanes, the Philippine Atmospheric, Geophysical and Astronomical Services […]
Read more →THE Department of Finance (DoF) is open to proposals to reduce or repeal some taxes, including the value-added tax (VAT), provided the resulting revenue losses are offset by alternative sources, Finance Secretary Frederick D. Go said.
Read more →ARTIFICIAL INTELLIGENCE (AI) could slow employment growth in the Philippine business process outsourcing (BPO) industry, as companies automate routine tasks and hire fewer entry-level workers, experts said.
Read more →CASH REMITTANCES could post its slowest growth since the pandemic this year as overseas Filipino workers (OFWs) are affected by heightened geopolitical risks arising from the Middle East war, Maybank Investment Bank said.
Read more →INFLATION in the Philippines is expected to remain elevated through the rest of 2026 as rising global commodity prices, supply disruptions linked to the Middle East war, weather-related risks and domestic production constraints continue to push up costs, according to a discussion paper by the Congressional Policy and Budget Research Department (CPBRD).
Read more →AREIT, Inc. expects to secure Securities and Exchange Commission (SEC) approval by the end of 2026 for its proposed P17.33-billion property-for-share swap with Ayala Land, Inc. (ALI) and its subsidiaries. The real estate investment trust said in a disclosure on Tuesday that it plans to execute the deed of exchange and file its application with […]
Read more →SHELL PILIPINAS Corp. (SPC) expects to commission its first import terminal in the Visayas in Cebu by yearend, an official said. SPC Chief Financial Officer Reynaldo P. Abilo said the facility will be the company’s fifth import terminal in the Philippines and is expected to provide a competitive advantage and growth opportunities. “Having that import […]
Read more →ACEN CORP. has agreed to sell up to a 49% stake in Avana Renewables Private Ltd., which is developing a separate 20-megawatt (MW) wind project in Karnataka, India. In a disclosure to the stock exchange on Tuesday, ACEN said its wholly owned subsidiary Unlimited Renewables Holdings B.V. (URH) entered into a securities sale and purchase […]
Read more →CEBU Landmasters, Inc. (CLI) said its contracted receivables stood at about P99 billion against P67 billion in outstanding debt as of June. In a statement to the stock exchange on Tuesday, CLI said the contracted receivables are expected to be collected over the next five years, while its leverage ratios remain well within financial covenants. […]
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