Suspended DICT exec denies wrongdoing in P1.5-B contracts

Inquirer.net - Oct 22, 2026

MANILA, Philippines — Embattled Information and Communications Technology Undersecretary David Almirol Jr. has denied allegations of conflict of interest involving government contracts worth more than P1.5 billion, which were awarded to a company he founded. Almirol broke his silence a day after the Office of the Ombudsman ordered his preventive suspension for six months without pay

Read full article

More News

US-China ties need more working-level dialogues, not just summits: business chamber

Oct 22, 2026

US-China ties need more working-level dialogues, not just summits: business chamber

The president of the American Chamber of Commerce in China (AmCham China) has urged Beijing and Washington to push more negotiations down to working-level officials, saying businesses need greater long-term stability in bilateral ties than leader-level diplomacy alone can provide. Michael Hart, president of the chamber, said American businesses were encouraged by the unprecedented frequency of meetings between the presidents of China and the US, but warned that working-level officials had less...

Peso sinks beyond 63.4:$1

Oct 22, 2026

Peso sinks beyond 63.4:$1

MANILA, Philippines — The Philippine peso sank past 63.4 per dollar to hit a fresh record low on Thursday, as investors braced for the Bangko Sentral ng Pilipinas’ (BSP) next policy move amid persistently high inflation. The local currency opened at 63.31 against the greenback before sliding to an intraday low of 63.47 during morning trading,

DICT's Almirol denies conflict of interest involving his old firm

Oct 22, 2026

DICT's Almirol denies conflict of interest involving his old firm

Suspended Undersecretary David Almirol said that it was Multisys that belatedly filed its General Information Sheet before the Securities and Exchange Commission (SEC).

Power outages may hit Visayas consumers

Oct 22, 2026

Power outages may hit Visayas consumers

MANILA, Philippines — Consumers face brownout risks across the Visayas as the grid remains under red alert for a third straight day amid tight power supply. The country’s grid operator placed the Visayas under red alert from 5 p.m. to 6 p.m., still due to a power crunch caused by outages at several power plants in

Barclays bank to cut about 5,000 jobs amid AI drive

Oct 22, 2026

Barclays bank to cut about 5,000 jobs amid AI drive

Barclays announced it will cut around 5,000 jobs, or roughly 5% of its global workforce, by the end of 2026 in an AI efficiency drive, alongside an update that its net profit grew 13% in Q3.

China expands tax workforce as tougher enforcement moves into spotlight

Oct 22, 2026

China expands tax workforce as tougher enforcement moves into spotlight

Beijing’s plan to recruit more tax officers next year is drawing attention from businesses and wealthy families as tax compliance rises up the policy agenda and authorities intensify enforcement efforts. China’s 2027 national civil service recruitment plan includes 24,013 tax-related positions, accounting for more than 67 per cent of all vacancies, up from over 65 per cent a year earlier. Most of the vacancies are at the State Taxation Administration’s local branches, which are recruiting staff...

China targets offshore trusts in widening push for taxes

Oct 22, 2026

China targets offshore trusts in widening push for taxes

Thursday marked the deadline for Chinese taxpayers to make outstanding tax payments tied to offshore trusts as the government chases new funding sources to help ease fiscal strains. Investors face a 20 per cent tax based on the initial value of assets placed in trusts and a 20 per cent tax on distributions under a policy coming into force on Friday. Authorities backdated the taxes to January 1, 2023, and gave trust holders a 90-day grace period to make penalty-free payments when the changes were...

BPI names Ginbee Go to succeed Limcaoco as CEO

Oct 22, 2026

BPI names Ginbee Go to succeed Limcaoco as CEO

MANILA, Philippines — Bank of the Philippine Islands (BPI) has tapped consumer banking head Maria Cristina “Ginbee” Go to succeed Jose Teodoro “TG” Limcaoco as president and CEO next year. On Thursday, the  Ayala-led bank said its board approved a succession plan for Go to assume the posts on April 26, 2027, following its annual stockholders’

Peso weakens to P63.52:$1, the 30th record low of 2026

Oct 22, 2026

Peso weakens to P63.52:$1, the 30th record low of 2026

The Philippine peso depreciated further against the US dollar on Thursday to mark its 30th record low so far this year, amid inflationary concerns as global oil prices continue to increase.

Robinsons Land brings building partners into Bacolod public-space plans

Oct 22, 2026

Robinsons Land brings building partners into Bacolod public-space plans

Every real estate development is built on the collaboration of architects, builders, and suppliers—partnerships cultivated over many years. In Bacolod, Robinsons Land (RLC) is drawing on these longstanding relationships to help enhance the city’s public spaces, strengthen its tourism circuit, and support improvements to school facilities, among other community-focused initiatives. Hand in Hand for Progress,

BSP hikes rates by 50 basis points amid expected inflation, El Niño effects

Oct 22, 2026

BSP hikes rates by 50 basis points amid expected inflation, El Niño effects

The Bangko Sentral on Thursday decided to implement a jumbo rate hike, extending its tightening streak for the fourth straight meeting, as it expects inflation to remain high through 2027.

France’s borrowing costs reach 24-year high as riots deepen budget worries

Oct 22, 2026

France’s borrowing costs reach 24-year high as riots deepen budget worries

France’s 10-year borrowing cost topped 5 per cent again in early Paris trading on Thursday, a day after touching that level for the first time since 2002, as the country recovers from its worst urban riots in years and braces for more clashes to come. Analysts expected market pressure to persist in the near term amid uncertainties at home and abroad, but noted that the situation remained far from turning into another euro-zone crisis. The spread between 10-year French and German bonds widened to...

Recommended