MANILA, Philippines — ACEN Corp. has dropped 12 wind and solar service contracts in Luzon, letting go of nearly 5,000 megawatts (MW) of potential capacity, as the government continues to purge idle renewable projects. On Thursday, the group, backed by the Ayala Group, said in a regulatory filing that it voluntarily relinquished the projects “in support

MANILA, Philippines — Budget carrier Cebu Pacific sank deeper into the red in the first nine months of 2026, posting a P12.8-billion net loss after a double whammy of soaring jet fuel costs and a weakening peso. This marked a reversal from the P9.46-billion profit that the Gokongwei-led carrier booked in the same period in 2025.

MANILA, Philippines — The Bureau of Internal Revenue (BIR) is eyeing the P3-trillion collection mark before the end of November––a goal that it plans to achieve through stronger tax compliance. On Thursday, the BIR said in a statement that it collected P2.8 trillion in the first 10 months, up 5.63 percent from the comparable period in

MANILA, Philippines — Bank of Commerce (BankCom), an affiliate of San Miguel Corp., grew its unaudited net income by 15 percent to P3.17 billion in the first nine months of 2026 as higher interest earnings offset a drop in non-interest income. On Thursday, the bank said it earned P2.75 billion in the same period last year. BankCom

MANILA, Philippines — Bigger shopper spending per transaction and more visits to its S&R warehouses lifted Puregold Price Club Inc.’s consolidated net income 18 percent to P8.67 billion in the first nine months of 2026. On Thursday, the Lucio Co-led grocery retailer said on it earned P7.30 billion in the same period last year. READ: Puregold

MANILA, Philippines — The Government Service Insurance System (GSIS) reported a 13.9 percent increase in profits in the first nine months of 2026, driven by investment income and member contributions. On Thursday, the state-run pension fund for government workers said in a statement that it netted P123 billion from January to September, up from P108 billion

MANILA, Philippines — First Philippine Holdings Corp. (FPH) is selling its entire 90.74-percent stake in Rockwell Land Corp. to Crème Investment Corp. for P15.9 billion, in a deal that would shift control of the property developer to the branch of the Lopez family descended from Eugenio “Geny” Lopez Jr. On Thursday, the Lopez-led conglomerate said its

MANILA, Philippines — Local stocks fell on Thursday as investors digested corporate earnings and a downgrade to the country’s economic growth outlook. The benchmark Philippine Stock Exchange Index (PSEi) shed 32.65 points, or 0.57 percent, to close at 5,660.55.  READ: Weak growth momentum to spill into 2027–BMI The broader all-shares index lost 24.86 points, or 0.78

MANILA, Philippines — Despite steady revenues, Citicore Energy REIT Corp. (CREIT) grew its net income by 6.6 percent to P1.03 billion in the first nine months, up from P966 million a year earlier. The Saavedra-led renewable energy real estate investment trust said revenues reached P1.37 billion, roughly unchanged from a year ago. READ: CREIT H1 earnings

MANILA, Philippines —Philippine businesses are far behind the curve in adopting artificial intelligence (AI), as data, talent, and cost constraints leave their capabilities closer to the 2024 global average than the prevailing standard in 2026, a new study found. According to a survey of 35 large corporations in the country, Philippine businesses remain at an

Bureau of Internal Revenue Commissioner Charlito Mendoza will move to head the country's other main revenue-collecting agency, the Bureau of Customs.

MANILA, Philippines — Higher residential sales and a jump in commercial revenues from its acquisition of Alabang Commercial Corp. lifted Rockwell Land Corp.’s net income attributable to the parent company by 21 percent to P3.8 billion in the first nine months of 2026. The Lopez-led property developer said consolidated net income rose 18 percent to P4.19

MANILA, Philippines — Alliance Global Group Inc. (AGI) grew its nine-month net income by 5 percent to P22.3 billion in 2026, driven by stronger brandy sales and higher leasing and hotel revenues, which boosted earnings in the third quarter. On Thursday, AGI said the increase was based on a year-earlier net income of P21.2 billion, after

MANILA, Philippines —Lower residential revenues pulled Filinvest Land Inc. (FLI) net income down 4.8 percent to P3.47 billion in the first nine months of 2026, despite a jump in home reservations. On Thursday, the Gotianun-led property arm said it booked P19.43 billion in consolidated revenues and other income through September. READ: Filinvest first-half profit slips

MANILA, Philippines — The Federation of Free Farmers (FFF) has welcomed the government’s 60-day restriction on certain pork imports but questioned the Department of Agriculture’s (DA) delay in implementing the measure, saying the agency should have acted sooner as rising imports and frozen pork inventories continued to drive down prices received by local hog raisers.

The alleged Chinese spy at the heart of the Nvidia scandal, Alice Huang, left Singapore in February and was barred from re-entering following an investigation into possible offenses.

MANILA, Philippines — The Marcos administration is closing the year with another sweeping leadership shakeup. Two of the country’s largest revenue-collecting agencies under the Department of Finance (DOF) and two investment promotion agencies have new leadership, officials announced at a news conference on Thursday. READ: Customs chief heads to BCDA Under the reshuffle, Bases Conversion and

Nvidia CEO Jensen Huang is stepping down, leaving the AI industry without its biggest champion and clouding the future of the chipmaker he built into an AI powerhouse.

The country's hosting of the 49th ASEAN Summit is an opportunity to show other countries that the Philippines is "worth investing" in, ASEAN-BAC Philippines said on Thursday.

MANILA, Philippines — Industry leaders in the Philippines, Indonesia, and Vietnam have launched a regional partnership to speed up the shift from diesel to small solar-plus-storage systems in remote areas. The member organizations of the Asian Photovoltaic Industry Association (APVIA) in the three countries formalized their team-up during the Powering the Islands and Remote Communities through

MANILA, Philippines — Ride-hailing giant Grab is getting a new boss for its Philippine operations as its managing director exits after more than eight years. Grab Philippines on Thursday named CJ Lacsican as its new country managing director, effective Dec. 1. She replaces Ronald Roda, who is stepping down to pursue entrepreneurial opportunities. READ: Delivery app

MANILA, Philippines — The Bureau of Internal Revenue (BIR) has recorded a sharp increase in micro taxpayers benefiting from its One-Time Abatement Program, reaching 5,210 beneficiaries and P353.75 million in taxes and penalties abated as of Nov. 7. Commissioner Charlito Martin R. Mendoza said the recent increase is encouraging as the Dec. 31 deadline approaches. “We

Few tech leaders are as synonymous with their companies as Jensen Huang. The Nvidia co-founder has been credited with transforming the firm over three decades from a niche graphics-chip designer into a US$4 trillion powerhouse through a series of high-stakes bets. Now, allegations of extramarital affairs with two women – alongside an internal review and a potential congressional probe – have forced Nvidia’s board to confront a once-unimaginable question: who can replace Huang when there is no...

MANILA, Philippines — Bureau of Customs (BOC) Commissioner Ariel Nepomuceno will leave his post to lead the Bases Conversion and Development Authority (BCDA), in another shake-up of key government agencies under the Marcos administration. Nepomuceno confirmed that he would succeed Joshua Bingcang as BCDA president and CEO. The state-owned corporation is tasked with converting former military

CK Hutchison Holdings, the major business vehicle of the family of billionaire Li Ka-shing, denied the reported suspension of a listing plan for its retail business amid cooling enthusiasm for initial public offerings (IPOs) in Hong Kong. “Strategic explorations and evaluations and related preparations are continuing,” the conglomerate, valued at HK$266 billion (US$34 billion), said in an exchange filing on Thursday. “However, as at the date of this announcement, no decision has been made by the...

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has maintained the 3-percent monthly cap on credit card finance charges while allowing banks to impose higher fees on installment loans and cash advances. Under BSP Circular No. 1242, issued on November 10, the Bangko Sentral ng Pilipinas raised the monthly add-on rate ceiling for credit card

Bases Conversion and Development Authority president and CEO Joshua "Jake" will be transferred to head the Philippine Economic Zone Authority, Finance Secretary Frederick Go said on Thursday.

The Philippines and Chile are set to formally sign a free trade agreement next week, a move seen to give Filipino exporters direct access in South America and diversify the country's global trade footprint.

Member states of the Association of Southeast Asian Nations (ASEAN) are advancing toward the implementation of a collaborative petroleum product stockpiling framework targeted for 2027.

The Bases Conversion and Development Authority (BCDA) has remitted P8.42 billion in asset disposition proceeds to the Bureau of the Treasury (BTr).