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Philippine Defense Secretary Gilbert Teodoro Jr. accused the Chinese embassy of engaging in public relations for Chinese businesses and individuals involved in illegal activities within the country, specifically citing businessman Tony Yang. He urged Filipinos to condemn China's "abusive behavior."
Manila Electric Co. (Meralco) maintains system loss rates around 5%, significantly below the Energy Regulatory Commission's cap, contributing to stable electricity costs. The power giant is seeking partnerships with electric cooperatives, offering capital and expertise to improve efficiency and lower rates, especially for those with double-digit losses.
The Office of the Ombudsman dismissed a witness's recantation in the corruption probe against former House Speaker Martin Romualdez as a "classic pressure tactic," stating the investigation does not hinge on a single individual. The office confirmed 28 active uniformed personnel are prepared to testify.
The camp of Leyte Congressman and former Speaker Martin Romualdez has submitted a supplemental counter-affidavit to the Ombudsman, including sworn statements from 25 former employees of fugitive lawmaker Zaldy Co and a recantation from key witness Orly Guteza, disputing bribery allegations.
Philippine government officials will meet with regional executives from Meta, the parent company of social media giants, in Singapore to discuss measures against child violence following a shooting incident at Ateneo de Zamboanga University. The meeting highlights the Philippines' limited jurisdiction over Meta.
Self-reported poverty and hunger rates in the Philippines rose in the second quarter, according to an OCTA Research survey. Poverty was highest in Mindanao, while hunger incidence was most pronounced in balance Luzon.
The Office of the Ombudsman in the Philippines will continue its investigation into the flood control scandal despite some witnesses retracting their testimonies. The ombudsman stated that witness recantations are a "classic pressure tactic" and vowed to pursue the truth with 28 other witnesses still available, some of whom are active uniformed personnel.
The Local Water Utilities Administration (LWUA) of the Philippines and the Japan International Cooperation Agency (JICA) have strengthened their partnership for modernizing the country's water districts. Key initiatives include a master plan study for comprehensive sewerage system development in Metro Cebu, aiming for sustainable and reliable water services.
Philippine consumer finance platform Billease has secured a P1-billion credit facility from Philippine National Bank (PNB), bolstering its local funding base as it scales its loan portfolio and expands into traditional banking.
Mobile data costs in the Philippines have plummeted to approximately P7 per GB, following the government's adoption of real-time analytics to monitor telco performance. This has coincided with improvements in connectivity, speed, and 5G coverage, enhancing digital access for Filipinos.
HSBC Philippines CEO suggests focusing on semiconductor manufacturing over data centers to accelerate economic growth amid the AI boom. He emphasized leveraging existing infrastructure and improving execution speed.
Dominion Holdings Inc. (DHI) is set to become the Philippines' largest mining firm with plans to acquire control of the Tampakan copper-gold project and a significant capital increase, potentially boosting the national economy.
The Philippines has signed its first Air Service Agreement (ASA) with Iceland, opening the possibility for seven weekly direct and connecting flights between the two nations. This move is expected to boost trade and tourism.
The Philippine stock market rebounded as investors bought shares at lower prices following the previous day's selloff. The main index rose 1.30 percent to close the trading week. The mining and oil sector led the gains, though foreign investors remained net sellers.
The Philippines' balance of payments (BOP) position shifted to a deficit of $1.47 billion in July due to increased foreign exchange outflows, including debt payments and import-related dollar demand. This marks a nearly nine-fold wider deficit compared to the same month last year. While the year-to-date deficit narrowed, gross international reserves also declined.
Foreign business groups in the Philippines are strongly advocating for tax certainty to improve the investment climate and competitiveness. They emphasize the need for clear implementation of tax guidelines on cross-border services (RMC 5-2024) to enhance predictability in corporate operations.
A migratory Pied heron has been spotted at the Agusan Marsh Wildlife Sanctuary, potentially marking the first documented record of the species in the Philippines. A team of biodiversity experts successfully photographed the bird.
The Bureau of Customs seized approximately P292.4 million worth of suspected shabu in a shipment container originating from Afghanistan at the Manila International Container Port. About 43 kilograms of methamphetamine were discovered hidden in containers falsely declared as "talc stones."
Three individuals were killed in separate shooting incidents across the Calabarzon region this week. The perpetrators remain unidentified, and motives are currently unknown, raising concerns about local security.
PhilCare, a leading HMO in the Philippines, has partnered with Hi-Precision Diagnostics to launch "Precision Care," a tech-enabled healthcare product. This aims to offer affordable, integrated emergency medical coverage and diagnostic services across the nation.
Valenzuela City in the Philippines is constructing a massive underground water catchment basin capable of storing 5,000 cubic meters of rainwater to combat flooding along MacArthur Highway. This marks the city's first such facility, aiming to mitigate the impact of floods on citizens' lives through infrastructure development.
Robinsons Land Corp. (RLC), a major Philippine property developer, plans to increase the share of its investment portfolio in its revenue mix to 80% within the next two years, focusing on recurring income-generating businesses like malls, offices, hotels, and logistics.
Three suspects, including an 18-year-old and two minors, have been charged with homicide in connection with the killing of a 16-year-old Grade 11 student in Quezon City. The incident reportedly stemmed from a street fight.
The Bureau of Internal Revenue (BIR) has filed a tax evasion case with the Department of Justice against Hongsheng Gaming Technology Inc., an offshore gaming operator, for alleged tax deficiencies amounting to P2.23 billion. The company is accused of underdeclaring income and misreporting value-added tax (VAT) liabilities.
Japan Tobacco International (JTI) Philippines urged ASEAN nations to harmonize their regulations to combat illicit tobacco trade. While the Philippines has seen success with its "destination principle," the lack of similar rules in other countries puts the entire region at risk.
SM Warehouses, a unit of SM Prime Holdings, is expanding its logistics and warehouse operations nationwide in response to surging demand. The growth is largely driven by increased e-commerce adoption among the younger demographic, fueling the need for urban last-mile hubs and regional warehouses.
An ambush in Datu Saudi Ampatuan, Maguindanao del Sur, resulted in the deaths of two individuals and injuries to another. The victims were traveling in a pickup truck towards Cotabato City when they were targeted. Local authorities are investigating the incident.
A couple perished in a predawn market fire in Shariff Aguak, Maguindanao del Sur, Philippines. The blaze reportedly originated from a fuel store and rapidly consumed commercial stalls. Authorities are investigating the cause.
A survey by the Management Association of the Philippines (MAP) reveals a muted business outlook for Q4 2024, citing a slow economy and weak peso. However, businesses are optimistic about recovery in 2027, anticipating boosts from election-related spending and potential resolution of geopolitical issues.
Singapore-based Sembcorp Industries is exploring the potential development of an industrial park in New Clark City, Philippines. The Philippine Economic Zone Authority (PEZA) anticipates the firm replicating its successful model from Vietnam in the country.
The Bangko Sentral ng Pilipinas (BSP) wrote off P2.8 billion in past-due loans in 2025 as part of a balance sheet cleanup. This move significantly reduced long-standing legacy exposures, allowing the central bank to refocus on its lender-of-last-resort function.
A court stenographer in Tarlac, Philippines, has been dismissed for grave misconduct after allegedly defrauding an overseas Filipino worker (OFW) of P250,000 by providing a fake annulment ruling. The Supreme Court ordered her dismissal and disqualification from government reemployment.
The Department of Health reports that 362,793 children in the Bicol region have been vaccinated against measles and rubella, achieving over 56% of the target for the ongoing supplemental vaccination program in Luzon. This figure was recorded nine days after the program's launch.
Kerwin Max Tan, Chief Financial, Risk and Compliance Officer of Robinsons Land Corp. (RLC), has been honored as CFO of the Year at the Asia Business Leader Awards in Singapore. Tan has been instrumental in RLC's financial strategies since 2016, contributing to the company's growth and market position.
The Philippine government is on track to meet its fiscal deficit target for 2026, with the deficit-to-GDP ratio projected at 5.45 percent, the lowest since the administration's start. This reflects successful fiscal discipline, with further reductions anticipated by 2030.
The Energy Regulatory Commission (ERC) in the Philippines announced a four-month extension for the suspension of the Green Energy Auction Allowance (GEA-All) collection until December, aiming to alleviate the burden on households facing rising inflation and living costs. Consumers will not be billed for GEA-All charges until then.