COA flags P4.09B in overdue DBP loans for 'Build, Build, Build'

GMA Network - Oct 13, 2026

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.

Read full article

More News

Hong Kong watchdog orders suspension of third stock in a month

Oct 13, 2026

Hong Kong watchdog orders suspension of third stock in a month

Hong Kong’s securities watchdog has directed the stock exchange to suspend trading of three listed companies in the last month, signalling a hawkish turn regarding the quality of listed firms. Chinese bubble-tea maker Sichuan Baicha Baidao Industrial, also known as Chabaidao, was suspended by the Securities and Futures Commission (SFC) at 9am on Tuesday, before the market opened, under Rule 8(1) of the Securities and Futures (Stock Market Listing) Rules. No further details were disclosed. It...

DOLE releases pay rules for Undas, Bonifacio Day 2026

Oct 13, 2026

DOLE releases pay rules for Undas, Bonifacio Day 2026

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.

BIR mandates 2% withholding tax remittance on electricity spot market sales

Oct 13, 2026

BIR mandates 2% withholding tax remittance on electricity spot market sales

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.

Why Haidilao’s US$14.9 million credit line to founder is fuelling China tax speculation

Oct 13, 2026

Why Haidilao’s US$14.9 million credit line to founder is fuelling China tax speculation

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...

Meralco rates up in October

Oct 13, 2026

Meralco rates up in October

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.

Gas, kerosene prices up, diesel down

Oct 13, 2026

Gas, kerosene prices up, diesel down

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,

DA ramps up ube production in Cagayan Valley

Oct 13, 2026

DA ramps up ube production in Cagayan Valley

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 expands with US$34 million Admiralty lease despite slow luxury sales: analysts

Oct 13, 2026

King Fook expands with US$34 million Admiralty lease despite slow luxury sales: analysts

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...

SSS orders 5 Pasay employers to settle P3.19M dues or face charges

Oct 13, 2026

SSS orders 5 Pasay employers to settle P3.19M dues or face charges

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 to tighten leash on futures quant trading to contain risks amid stock slump

Oct 13, 2026

China to tighten leash on futures quant trading to contain risks amid stock slump

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 to get P750 minimum wage increase on Oct. 26

Oct 13, 2026

House helpers in CALABARZON to get P750 minimum wage increase on Oct. 26

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.

Condo supply, costs, borrowings constrain PH property market -- S&P

Oct 13, 2026

Condo supply, costs, borrowings constrain PH property market -- S&P

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.

Recommended