MANILA, Philippines — The Department of Finance (DOF) is targeting a reduction in the cost of sending money home by overseas Filipino workers (OFWs) to around 2 percent of the funds sent, with Finance Secretary Frederick Go turning to global payments firms to help make money transfers to the Philippines more affordable. “The average (fee) now,

MANILA, Philippines — The Ayala group’s ACEN Corp. has committed an additional P3 billion to its wholly owned subsidiary Giga Ace 8 Inc. to finance the construction of its Palauig Solar 2 and battery energy storage projects. In a disclosure on Friday, ACEN said it signed a subscription agreement for 300 million Redeemable Preferred Shares “A”

MANILA, Philippines — Converge ICT Solutions Inc. is preparing to pilot a new low-cost prepaid home broadband offering this quarter, as the telco seeks to reach price-sensitive households amid the increasingly saturated fiber market. Dennis Anthony Uy, cofounder and CEO of Converge, said the product, which could be commercially launched as early as the first

MANILA, Philippines — DMCI Homes has partnered with Pag-Ibig Fund to make up to 3,990 condominium units eligible for housing loan financing, subject to the completion of project accreditations. The property developer signed a memorandum of understanding with the state-run housing lender on Friday to broaden financing options for qualified buyers. Anissa Heights, a condominium development

MANILA, Philippines — Manulife Investments Philippines has converted its Global Real Estate Investment Trust (REIT) Feeder Fund into a diversified multi-asset unit investment trust fund (UITF), expanding its investment mandate beyond real estate to include listed infrastructure, natural resources equities and US Treasury inflation-protected securities. In a statement, the asset management arm of Manulife said it launched

MANILA, Philippines — The Philippines significantly contributed to global pineapple trade in 2025 as it invested heavily in improving domestic production, according to the Food and Agriculture Organization (FAO) of the United Nations. Global pineapple exports grew by 3.7 percent to 3.7 million metric tons (MT) in 2025, largely driven by higher supplies from the

MANILA, Philippines — The Department of Agriculture (DA) has opposed selling off the rice cargo from Vietnam that was confiscated, to prevent those responsible for its entry into the Philippines from profiting. “I am not in favor of auctioning this,” Agriculture Secretary Francisco Tiu Laurel Jr. said in a recent radio interview. READ: Senate to conduct

Almost two decades after gaining permission to conduct yuan business for local clients, foreign-funded banks are still refining their strategy in China, where the financial sector is dominated by state-owned lenders. While Citi exited its China retail banking business, other foreign banks have continued to close branches and sub-branches, focusing instead on digitalisation, wealth management and core clients to strengthen their foothold in the market. Deutsche Bank (China) announced the closure...

MANILA, Philippines — The Philippine government has pitched potential projects under the Luzon Economic Corridor (LEC) to Italian companies interested in investing in infrastructure, technology, and other strategic sectors. This is according to the Department of Finance (DOF), which said it presented potential projects where 10 Italian companies could contribute through financing, technical assistance, technology

The Bureau of Internal Revenue has released new rules to make it fairer for drugstores, supermarkets, and pharmaceutical companies when they give discounts to senior citizens.

ASEAN is adapting Japan and Korea’s corporate value-up models to improve governance, disclosure, and investor participation. Countries like Singapore, Malaysia, Thailand, Indonesia, Philippines, and Vietnam are implementing various value-up programs. The goals are similar: better shareholder returns, governance, and investability. Companies can enhance visibility and access to capital by improving capital allocation, shareholder returns, and […]

MANILA, Philippines — Consunji-led Concreat Holdings Philippines (CHP) said its two cement plants recover and reuse about 50 million liters of water annually, reducing their freshwater needs amid risks from prolonged dry spells and El Niño. The DMCI Holdings Inc. subsidiary uses water recycling and recovery systems at APO Cement in Naga, Cebu, and Solid

MANILA, Philippines — Flag carrier Philippine Airlines (PAL) will offer discounts on select business class and premium economy seats for the first time, ahead of the peak holiday travel season. PAL’s week-long sale, running from Oct. 19 to 25, will offer discounts of up to 60 percent for business class and premium economy seats on select

MANILA, Philippines — Local stocks rallied on Friday as investors hunted for bargains, with lower global bond yields and oil prices supporting sentiment. The benchmark Philippine Stock Exchange Index (PSEi) gained 119.53 points, or 2.11 percent, to close at 5,782.70. READ: Gasoline rollback, slight diesel hike seen next week Philstocks Financial Inc. said the decline in

MANILA, Philippines — Tycoons Lance Gokongwei and Chito Salazar will share the coveted “Management Person of the Year” honor for 2026, awarded by the country’s influential group of business executives, the Management Association of the Philippines (MAP). Gokongwei, president and CEO of JG Summit Holdings Inc., earned accolades for transforming the Gokongwei Group into a professionally

SAN FRANCISCO--Tesla unveiled a redesigned Roadster powered with rocket-style thrusters on Thursday and said it would start production in 2028, more than a decade after it first showed a next-generation version of its electric sports car.

MANILA, Philippines — The Philippine peso weakened further on Friday, hitting another record low against the dollar as expectations of higher US interest rates bolstered the greenback. The local currency opened at 63.03 per dollar before sliding to an intraday low of 63.23 during the morning trade, according to data from the Bankers Association of the

Hong Kong Exchanges and Clearing said it had delayed a plan to shorten the settlement time for share transactions to the second half of 2028, so it could address widespread industry requests for more preparation time. Confirming a report by the South China Morning Post on Wednesday, the exchange said in a statement on Friday that it would not proceed with the timeline it proposed in a consultation paper in April, aiming to implement a so-called T+1 system in the fourth quarter of 2027, replacing...

MANILA, Philippines — Consumer group National Association of Electricity Consumers for Reforms (Nasecore) urged the Department of Energy (DOE) to disclose revised bidding rules for the next Semirara coal operating contract and require enforceable commitments on domestic supply, pricing, and uninterrupted production. In a statement, Nasecore said the bidding should allow fair competition and deliver

International investors will keep an eye on a forum next week for clues from China’s regulators on how they plan to further open its financial markets, after Visa’s long-awaited approval fuelled hopes for deeper participation in the world’s second-largest economy. Regulators could announce more measures at the Financial Street Forum to deepen the internationalisation of the yuan and optimise the Connect series of cross-border investment links between investors in mainland China and the rest of...

MANILA, Philippines — Motorists may see gasoline prices drop by as much as P4.20 a liter next week, while diesel prices could rise, an industry source said. Gasoline prices will like drop by P4 to P4.20 a liter for the week of Oct. 19, while diesel prices may rise by P0.20 to P0.40 a liter. READ:

The Philippine peso climbed its way back to P62-to-one dollar level on Friday, after breaching P63:$1 and hitting a fresh record low for the 27th time this year.

Philippine shares closed the week on a strong note on Friday, as investors' bargain hunting supported the local market.

French luxury giant LVMH Group kicked off a global open-house event showcasing its craftsmanship in Shanghai on Thursday, as the event’s founder Antoine Arnault hailed a “special bond” with Chinese customers at a launch event in Paris. It came as the group faced pressure from sluggish demand in China and a backlash over a lawsuit against a local tea company. At the launch event at the Samaritaine department store in central Paris for this year’s Les Journées Particulières, first initiated by...

The National Association of Electricity Consumers for Reforms (NASECORE) has called on the Department of Energy (DOE) to establish clear, transparent, and enforceable bidding parameters for the next Semirara coal operating contract, as it emphasized that any decision must prioritize public interest, consumer protection, and national energy security.

Hong Kong’s market regulators cracked down on fraud with a multibillion-dollar asset freeze, while mainland trade momentum surged on robust tech demand. Meanwhile, mainland Chinese traders ramped up their exposure to local equities, and the city cemented its status as a top global destination for wealth philanthropy. Here are some of the figures that have drawn the most market attention this week. Hong Kong watchdogs freeze US$590 million Hong Kong’s securities watchdog moved against two groups...

President Ferdinand “Bongbong” Marcos Jr. has appointed a finance veteran to take the helm of private sector workers" pension fund, Social Security System (SSS).

Flag carrier Philippine Airlines (PAL) on Friday announced discounts of up to 60% on business and premium seats on select domestic and international routes as part of its inaugural Premium Cabin Seat Sale.

Beijing has enlisted the support of its top internet watchdog to deepen the investigation into a car safety issue that put Chinese-made intelligent vehicles under the spotlight. The Ministry of Industry and Information Technology (MIIT) said on Thursday that a joint investigation team including officials from the Cyberspace Administration of China (CAC) and the State Administration for Market Regulation (SAMR) would verify facts regarding reports about brake pedal failures in tests of an...

President Ferdinand “Bongbong” Marcos Jr. on Friday appointed finance and investment veteran Victor Alfonso Limlingan as the new president and CEO of the Social Security System (SSS).