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Philippine stocks retreated on Friday as investors weighed the impact of higher borrowing costs on economic growth, compounded by a weakening peso. The benchmark Philippine Stock Exchange Index (PSEi) dropped 0.88 percent to close at 5,728.63.
The Philippine peso hit a record low of 63.615 to the dollar on Friday. Concerns over the domestic inflation outlook overshadowed an aggressive interest rate hike by the central bank, pushing the currency lower.
The Sandiganbayan Third Division affirmed its earlier ruling denying former Sen. Bong Revilla's motion to inhibit the justice who denied his bail petition, allowing the trial of his malversation case to proceed.
The Commission on Audit (COA) has identified numerous deficiencies, including delays, underutilization, and misapplication of funds, in Department of Health (DOH) infrastructure projects valued at over P17.27 billion. These projects, aimed at constructing and upgrading healthcare facilities nationwide, raise concerns about financial waste and delayed public services.
The Office of the Ombudsman in the Philippines will establish an 'Investors' Window' to receive concerns from business owners and investors regarding government officials or transactions hindering operations, aiming to address corruption impeding business.
Typhoon Rosal (international name 'Champi') has slightly intensified as it continues to move away from the Philippines, according to the state weather bureau. The typhoon is currently tracking northwestward, with direct impact on the mainland expected to be minimal.
The Philippine National Police (PNP) has issued a one-week ultimatum for Senator Ronald “Bato” dela Rosa to surrender, following the issuance of an International Criminal Court (ICC) arrest warrant. This comes after the Department of Interior and Local Government (DILG) requested the PNP to implement the warrant.
A 24-year-old truck helper died and two others were injured when their vehicle overturned due to reported brake failure along the bypass road in Gumaca, Quezon. The truck was carrying approximately 1,200 live chickens.
Electric vehicle (EV) owners can now charge at six service facilities along the North Luzon Expressway (NLEX) in the Philippines, with two more stations slated to open by December, signaling progress in EV infrastructure development.
Thousands in Buguey, Cagayan feasted on roasted pigs stuffed with crabs during the annual Crab, Mangrove and Nipa Festival. The event celebrates local culture and promotes environmental awareness in the region.
The National Bureau of Investigation (NBI) has arrested over 80 individuals in Makati City for alleged involvement in abusive online lending app operations. The NBI stated that these operators used methods such as bulk text messaging to target borrowers.
A five-year-old boy, reported abducted in Calamba City, Laguna, was safely found in Tanay, Rizal, and reunited with his family. The child was discovered crying outside a church by a concerned citizen.
The Philippine Senate is pushing for stricter measures on a proposed estate tax amnesty bill to prevent fraudulent claims, particularly "fake death" inheritance schemes and to discourage tax evasion in anticipation of future government pardons.
Nearly 100 student organizations and youth leaders in the Philippines have declared the Chinese ambassador banned from visiting national schools, in response to the Chinese embassy's prohibition of certain Filipino officials from visiting China.
Police in Dipolog City, Zamboanga del Sur, arrested a high-value drug suspect and seized approximately P367,200 worth of suspected methamphetamine (shabu) in a buy-bust operation on Tuesday evening, October 20, as part of ongoing anti-drug efforts.
Typhoon Rosal is projected to exit the Philippine Area of Responsibility (PAR) today, according to the Philippine Atmospheric, Geophysical and Astronomical Services Administration. While Tropical Cyclone Wind Signal No. 2 remains in effect over Batanes, no significant damage has been reported.
The Philippine government is accelerating infrastructure development, including irrigation and water impounding facilities, to mitigate the impact of the El Niño phenomenon, which is forecast to cause drought until early next year. The rollout of solar-powered irrigation systems aims to reduce costs and boost farmer productivity.
Philippine Interior and Local Government Secretary Jonvic Remulla announced a P50-million bounty for the arrest of Senator Ronald "Bato" dela Rosa, who faces an International Criminal Court (ICC) arrest warrant related to the previous administration's war on drugs. Remulla declared "gloves are off" in the pursuit and described Dela Rosa as "armed and dangerous."
The Philippine peso hit a fresh record low of P63.615 against the US dollar on Friday, marking its 31st all-time low this year. The central bank indicated it would intervene in the market primarily to curb inflation, not to support a specific exchange rate.
Philippine financial markets ended the week in the red, with stocks retreating as investors digested the Bangko Sentral ng Pilipinas’s 50-basis-point rate hike, while the peso sank to a fresh record low for the third straight trading session.
Japan Credit Rating Agency (JCR) forecasts that infrastructure investment in the Philippines will remain around 4% of GDP through 2027, with a recovery in delayed public works projects. The rating agency affirmed the Philippines' 'A-' investment-grade rating with a stable outlook.
The US has committed $34.1 million in funding to bolster the Philippine ube industry, capitalizing on the purple yam's rising global popularity. The initiative will support 12,500 local farmers and enhance the entire value chain, from cultivation to market access.
The Philippine Stock Exchange (PSE) is actively encouraging digital bank Maya to pursue an Initial Public Offering (IPO), aiming for it to follow the successful listing of e-wallet giant GCash. While Maya's parent company, PLDT, favors a domestic listing, foreign investors may prefer an overseas debut, leading to discussions about a dual listing.
The Bangko Sentral ng Pilipinas (BSP) is poised for further interest rate hikes in December to combat inflation and a weakening peso. Some economists anticipate continued monetary tightening into early 2027, raising concerns about the impact on economic growth.
The Philippine Supreme Court recognized the Bureau of Internal Revenue (BIR) for its contribution to the implementation of electronic notarization (eNotarization), specifically for facilitating compliance with documentary stamp tax (DST) requirements through the BIR’s electronic Documentary Stamp Tax (eDST) system. This initiative is crucial for ensuring the legal validity of electronic signatures and digitally signed documents.
Donaver Guevarra, community environment and natural resources officer of Masinloc, Zambales, is recognized for his efforts in protecting a 7,558-hectare marine and coastal landscape. His approach emphasizes community engagement, livelihood creation, and partnerships for sustainable conservation, extending beyond mere law enforcement.
President Ferdinand Marcos Jr. inaugurated a P91-million solar-powered irrigation system in Kananga, Leyte, a project expected to benefit 155 hectares of farmland and 66 farmers amid El Niño-induced dry conditions.
Philippine fintech firm Peppermint Bizmoto Inc. (PBI) has signed a strategic merchant payment services agreement with ARX (Asian Regulatory Exchange). The partnership aims to leverage PBI's electronic money issuer license to facilitate P2 million in payment services through ARX's platform.
An absent-without-leave (AWOL) police corporal, previously flagged for illegal drug use, was arrested along with a civilian in a buy-bust operation in Cagayan de Oro City. The officer was categorized as a high-value target.
Interior Secretary Jonvic Remulla declared Senator Ronald “Bato” dela Rosa as “armed and dangerous,” offering a P50 million bounty for his capture. The announcement raises concerns about the senator's political standing and security.
Presidential Communications Office (PCO) spokesperson Claire Castro will remain in her post following a leadership change. Acting Secretary Lino Cayetano views her 'combative approach' as a 'treasure' in communicating the administration's message.
In the Philippines, passengers have begun their exodus to the provinces more than a week before the annual "Undas" (All Saints' Day) holiday, filling bus terminals early to beat the rush and secure tickets.
The Philippine Bureau of Internal Revenue (BIR) Commissioner has unveiled the bureau's "DARES" agenda, focusing on tax modernization and long-term institutional reforms to enhance tax collection efficiency and taxpayer services.
Bohol province will host the Philippine National Police Academy Cadet Admission Test for the first time, expecting over 200 applicants. This initiative aims to boost local recruitment and training of future police officers.
President Ferdinand Marcos Jr. inaugurated a solar-powered irrigation project in Leyte, emphasizing the government's expansion of such systems to combat the looming Super El Niño and bolster food security.
Authorities seized over P146 million worth of suspected smuggled cigarettes and equipment at a pier in Palauig, Zambales. A composite team has been formed to investigate the shipment and trace the vessel involved.