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Top Business News

The Philippine economy grew at a sizzling pace in the second quarter, topping expectations as a government-led construction boom and an extended rebound in the farm sector took some of the sting off a peso wallowing at 11-year lows.

The stock market stayed in the 8,000 level yesterday following the release of second quarter economic performance.

Air Juan Aviation Inc. is planning to acquire additional aircraft in the next five years as it aims to double capacity and grow the business.


In his second State of the Nation Address, President Duterte said a new department should respond to the prevailing 21st century conditions.

The dinosaurs at LTFRB make it necessary for Congress to pass legislation that will update our laws to meet the needs of a digital age.

Latest Business News

Citicore Holdings Investment Inc., the parent company of Megawide Construction Corp., has sold its 313.8 million shares in the listed construction firm to newly-formed company Megacore Holdings for P5.7 billion.

The Department of Energy and Semirara Mining and Power Corp. have struck a deal for the development of a 50-megawatt mine-mouth power plant in Antique to provide a secure and reliable power supply to the province and its neighboring off-grid islands.

Metro Pacific Investments Corp. has submitted to the Duterte administration a much improved unsolicited proposal to rehabilitate and improve Metro Rail Transit 3 which includes a two-year moratorium on fare increases.

The Department of Public Works and Highways may ask AC Infrastructure Holdings Corp. and SM Investments Corp. to redesign the proposed P25 billion C-3 elevated expressway should it determine that the project is in conflict with existing projects.

The British Chamber of Commerce Philippines summoned key government officials to discuss the 10-point socioeconomic agenda—President Rodrigo Duterte's economic and development blueprint for the Philippines.

Remittances from overseas Filipinos reached their highest level in three months last June amid the sustained demand for skilled Filipino workers abroad, the Bangko Sentral ng Pilipinas said yesterday.

The peso continued yesterday to lose more ground against the dollar, shedding 26 centavos to close at its weakest level in almost 11 years.

Share prices recovered yesterday from last week’s slump, ramping up the initial recovery on Monday on the back of easing geopolitical tensions between the US and North Korea.

Trade Secretary Ramon Lopez is ruling out the possibility of countries banning imports of poultry products from the Philippines following the government’s confirmation of an avian flu outbreak in Pampanga last week.

The Bangko Sentral ng Pilipinas yesterday said banks and covered persons found to have engaged in money laundering face stiffer sanctions and higher fines under the revised implementing rules and regulations adopted by the Anti-Money Laundering Council.


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