MANILA, Philippines — Local stocks fell on Tuesday as rising inflation and expectations of another interest rate hike drove concerns over the country’s economic growth outlook. The benchmark Philippine Stock Exchange Index (PSEi) dropped 0.73 percent, or 41.64 points, to close at 5,701.54. READ: Red hot inflation seen extending BSP hikes Philstocks Financial Inc. attributed

MANILA, Philippines —Manila Electric Co. (Meralco) customers will have to tighten their belts as their power bills rise this month due to higher power generation costs. On Tuesday, Meralco said electricity rates this October would increase by P0.3191 per kilowatt-hour (kWh) to P15.0615 per kWh from P14.7424 per kWh in Sept. READ: ERC orders Meralco

MANILA, Philippines — Power prices in the country’s spot market rose again in September because of outages at generation facilities and higher consumption. The system-wide average Wholesale Electricity Spot Market (WESM) price inched up 3.1 percent to P7.43 per kilowatt-hour (kWh) from P7.21 per kWh a month ago. READ: Higher September power bills seen in

Apple is expected to show off newsmart home products, including an iPad-like device meant to hang on walls or perch on tabletops that will showcase its AI-upgraded Siri virtual assistant.

State auditors have flagged lapses in the Development Bank of the Philippines" (DBP) lending program for contractors under the Duterte administration"s "Build, Build, Build" infrastructure program, noting that most outstanding loans under the program were past due as of the end of 2025.

Cebu Pacific on Tuesday announced it will cancel all flights to and from Riyadh, Saudi Arabia scheduled until October 31 due to the tensions in the Middle East.

The new Royal Garden Kowloon East hotel has undergone far more than an extensive renovation; it has been completely overhauled to become an “urban resort” in the heart of Tseung Kwan O, according to the hotel’s owner. Developer Sun Hung Kai Properties (SHKP) had transformed the former Crowne Plaza “from a traditional business hotel into a brand-new urban resort experience” to cater to a new generation of tourists in Hong Kong, the firm’s chairman said at the hotel’s opening ceremony on...

China’s central bank boosted gold holdings by the most in three years last month, taking advantage of a dip in prices to further pare its exposure to US dollar assets amid tensions with Washington. Holdings rose by 740,000 troy ounces (23 tonnes) to reach 77.47 million ounces at the end of September, the People’s Bank of China said last week. The total gold pile is worth about US$324 billion at market prices and compares with China’s foreign exchange reserves of US$3.4 trillion. The People’s...

Modern jeepneys in Cebu are set to receive a P20,000 financial subsidy, the Land Transportation Franchising and Regulatory Board (LTFRB) Region VII said Tuesday.

Chinese billionaire Cao Dewang, whose glass-making empire was featured in the Oscar-winning documentary American Factory, has urged Chinese investors expanding overseas to respect local laws, regulations and culture, drawing on decades of experience building a global manufacturing business amid shifting US-China relations. Speaking at the University of Hong Kong (HKU) on Monday, the founder of Fuyao Glass said the approach had been central to the firm’s success in the US and warned against...

Consumers may face higher electricity rates as the Super El Niño is expected to ramp up power demand and push up prices in the wholesale electricity spot market (WESM), the Manila Electric Co. (Meralco) warned Tuesday.

Hong Kong’s securities watchdog has moved against two syndicates suspected of being involved in three alleged initial public offering fraud schemes involving assets worth HK$4.6 billion (US$590 million), according to a statement released on Tuesday. The Securities and Futures Commission (SFC) also announced on the same day that it had suspended 65 listing applications in the first nine months of this year due to the poor quality of their listing sponsors’ work, in what analysts viewed as an...

The Department of Labor and Employment (DOLE) on Tuesday reminded employers to properly compensate their workers during the two non-working days and one regular holiday in November 2026.

The Bureau of Internal Revenue (BIR) has ordered the Independent Electricity Market Operator of the Philippines (IEMOP) to withhold, account for, and remit taxes for electricity transactions in the wholesale electricity spot market (WESM) to ensure that they are properly recorded.

Haidilao International Holding has agreed to provide its founder, Zhang Yong, with a one-month loan of up to the Hong Kong dollar equivalent of 100 million yuan (US$14.9 million), a move that has raised market speculation as investors closely watch Beijing’s October 22 deadline for offshore trust taxation. The Hong Kong-listed hotpot chain said in a stock exchange filing on Monday night that it would fund the loan from internal resources and charge interest at 0.6 percentage points above the...

Households should brace for a higher electricity bill this month, as Manila Electric Co. (Meralco) on Tuesday announced a rate increase for October, driven by higher generation charges which offset lower transmission costs and taxes.

In yet another mixed adjustment of pump prices, gasoline will increase by P1.56 per liter and kerosene by P1.77 per liter, while diesel will be rolled back by P3.01 per liter, beginning on Tuesday, according to the Department of Energy (DOE). Rino Abad, director of the DOE’s Oil Industry Management Bureau, pointed to positive developments,

The Department of Agriculture (DA) is working with the Municipality of Echague, Isabela as well as local farmers to expand the country"s ube production to meet the growing international demand for the root crop.

King Fook Jewellery Group’s decision to lease a 550 square metre (about 5,920 square feet) retail space at Pacific Place Phase II in Admiralty signals confidence in Hong Kong’s retail market, despite slowing demand for luxury goods, analysts said. The six-year lease for the shop in Hong Kong’s prime business district carries total base rent of about HK$268.5 million (US$34.2 million), or about HK$3.73 million a month, according to a company announcement filed with Hong Kong Exchanges and...

The Social Security System (SSS) has given five employers in Pasay City 15 days to settle P3.19 million in unpaid workers" contributions and penalties, warning that failure to comply could lead to criminal charges.

China’s futures exchanges will intensify a crackdown on malfeasance linked to programme trading by defining specific violations, as Beijing seeks to contain any cross-asset risk that could place additional strain on the nation’s already struggling stock markets. Participants who failed to report and inspect clients’ programme trading, also known as quantitative trading, in compliance with the rules would be subject to disciplinary action, according to separate statements on the websites of...

House helpers in CALABARZON will receive a P750 increase in their monthly minimum wage starting October 26, the Department of Labor and Employment (DOLE) said Tuesday.

Excess condominium supply, rising costs, and expensive borrowing continue to constrain homebuyer demand in the Philippines, S&P Global Ratings Corporate Ratings Analyst Johann Tan said.

MANILA, Philippines — The Bangko Sentral ng Pilipinas may have to raise its policy rate higher to rein in high inflation and help support the weakening peso, analysts said. In a note to clients, economists at Deutsche Bank said the inflation flare-up in September prompted them to expect another quarter-point rate hike at the BSP’s Oct.

MANILA, Philippines — Travelers flying within and out of the Philippines may see a slight reduction in ticket costs in the second half of October after the Civil Aeronautics Board (CAB) approved lower, although still elevated, fuel surcharges for the period. In an advisory on Monday, the regulator said airlines would be allowed to impose

MANILA, Philippines — Weak economic activity and tight financial conditions will weigh on bank lending growth through 2027, BMI said, while also forecasting an increase in bad loans as borrowers contend with high inflation and elevated unemployment. In a commentary, the Fitch Group unit said it expects annual credit growth to hit 9 percent in

MANILA, Philippines — Demand for Mynt Inc.’s initial public offering (IPO) exceeded the shares allotted to several brokers, as investors sought a stake in the company behind GCash ahead of its Oct. 20 stock market debut. Regina Capital and Development Corp.’s allocation was four times oversubscribed, according to its head of sales, Luis Limlingan. READ: Strong

MANILA, Philippines — The Securities and Exchange Commission (SEC) has ordered the operators of a Facebook (FB) page posing as Cash-Express Philippines Financing Inc. to stop unauthorized financing and lending activities, citing risks to borrowers’ money and personal information. The cease-and-desist order covers the persons or entities behind “Cash-Express Payday Loan,” along with their representatives, agents,

MANILA, Philippines — Philex Mining Corp. said mining operations at its mine site in Tuba, Benguet, continue despite the ongoing workers’ strike over wages. “So far, mining and processing operations have continued and remained unhampered,” the Pangilinan-led mining company said in a disclosure on Monday. READ: Silangan mine to boost Philex revenues by 2027 “Initial

MANILA, Philippines — The Department of Trade and Industry (DTI) hopes to soon secure a lower US tariff rate for Philippine exports after a recent report from Washington acknowledged the government’s efforts to prevent forced labor. Currently, more than a third of Philippine exports to the United States face a 12.5-percent tariff following a Section 301