As telco profits dip, MVP floats consolidation

Inquirer.net - Nov 12, 2026

MANILA, Philippines — Tycoon Manuel V. Pangilinan is again raising the prospect of consolidation among the country’s four major telecommunications companies as they grapple with rising costs, sluggish revenue growth, and pressure on consumer spending. “We have four telcos serving a very small market,” Pangilinan said at PLDT Inc.’s third-quarter briefing on Thursday, noting that

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FPH to divest Rockwell Land stake for P15.9B

Nov 12, 2026

FPH to divest Rockwell Land stake for P15.9B

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

PSEi retreats as investors fret over growth

Nov 12, 2026

PSEi retreats as investors fret over growth

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

CREIT 9-month profit tops P1B on higher revenues

Nov 12, 2026

CREIT 9-month profit tops P1B on higher revenues

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

PH firms trail global AI curve by 2 years — study

Nov 12, 2026

PH firms trail global AI curve by 2 years — study

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

BIR chief Mendoza moves to BOC, to be replaced by DOF's Ligon

Nov 12, 2026

BIR chief Mendoza moves to BOC, to be replaced by DOF's Ligon

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

Alabang Town Center boosts Rockwell Land’s 9-month profit

Nov 12, 2026

Alabang Town Center boosts Rockwell Land’s 9-month profit

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

AGI Jan-Sept profit rises 5% to P22.3B

Nov 12, 2026

AGI Jan-Sept profit rises 5% to P22.3B

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

Filinvest Land profit falls 4.8%

Nov 12, 2026

Filinvest Land profit falls 4.8%

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

Farmers question delay in 60-day pork import restriction

Nov 12, 2026

Farmers question delay in 60-day pork import restriction

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.

Singapore says it barred alleged Chinese spy in Nvidia CEO affair from re-entry

Nov 12, 2026

Singapore says it barred alleged Chinese spy in Nvidia CEO affair from re-entry

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.

Marcos shuffles heads of BIR, BOC, BCDA

Nov 12, 2026

Marcos shuffles heads of BIR, BOC, BCDA

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 steps down in big blow to AI boom

Nov 12, 2026

Nvidia CEO Jensen Huang steps down in big blow to AI boom

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.

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