Business

Philippine Rating Services (PhilRatings) has assigned its highest rating of PRS Aaa to the planned bond issuance of up to P10.9 billion by DoubleDragon Corp. In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, DoubleDragon said the bonds will carry a fixed interest rate of 7.7 percent with tenors of 3.5 years and 5.5 years. The offering is …

The Securities and Exchange Commission (SEC) last week reminded publicly listed companies of their obligation to disclose material information to investors following the arrest of Global Ferronickel Holdings Inc. chairman Joseph Sy at the Ninoy Aquino International Airport on Aug. 21 over alleged misrepresentation of citizenship. “Given Mr. Sy’s role as chairman of a publicly listed company, the SEC is …

Tanduay Distillers, Inc. (TDI), the liquor and spirits arm of LT Group, Inc. (LTG), posted its strongest first-half performance on record, with net income nearly doubling on higher revenues, improved margins, and market share gains. TDI reported a net income of P1.36 billion in the first half of 2025, up 91 percent from P712 million a year ago, according to …

The Development Bank of the Philippines (DBP) has extended a P815-million term loan to Bright Homes & Realty Corporation for the construction of three residential buildings in Sta. Maria, Bulacan. DBP President and Chief Executive Officer Michael de Jesus said Thursday the funding was granted under the bank’s Credit Facility for the 4PH Program (BAHAY-4PH), which supports the Marcos administration’s …

State-owned Land Bank of the Philippines (LandBank) will extend P60 billion to the Power Sector Assets and Liabilities Management Corporation (PSALM) to help advance the government’s energy sector reform program. In a statement last week, LandBank said the amount forms part of a P100-billion Syndicated Term Loan Facility for PSALM, with the remaining P40 billion to be provided by the …

The Bangko Sentral ng Pilipinas (BSP) reduced its benchmark interest rate by another 25 basis points on Thursday, bringing the reverse repurchase rate to 5 percent. Rates on the overnight deposit and lending facilities were likewise lowered to 4.5 percent and 5.5 percent, respectively. The BSP has now cut policy rates by a cumulative 150 basis points since last year. …

The national government’s budget deficit eased in July as revenue growth outpaced spending, the Bureau of the Treasury (BTr) reported Thursday. The shortfall dropped 34.42 percent to P18.9 billion from P28.8 billion a year earlier, as total revenues rose 3.26 percent to P472.3 billion, driven mainly by higher tax collections. The Bureau of Internal Revenue (BIR) collected P335 billion, up …

The Department of Education (DepEd), Technical Education and Skills Development Authority (TESDA), and Commission on Higher Education (CHED) are now working closely together to address underemployment and the jobs-skills mismatch affecting Filipino learners. During the recent launch of Unilab Education (UniEd), the education pillar of the Unilab Group, DepEd Secretary Sonny Angara, TESDA Secretary Kiko Benitez, and CHED Chairperson Dr. …

The Philippines’ balance of payments (BoP) position slipped into a US$167-million deficit in July, reversing the surpluses of ₱226 million a month earlier and ₱62 million in the same period last year, the Bangko Sentral ng Pilipinas (BSP) reported. BSP Deputy Governor Lyn Javier said the shortfall was mainly due to the national government’s drawdowns on its foreign currency deposits …

The Department of Migrant Workers (DMW) announced a major reform package on Friday to strengthen the protection of overseas Filipino domestic workers, highlighted by a wage hike from $400 to $500 a month. Migrant Workers Secretary Hans Leo Cacdac said the new pay floor, which takes effect 60 days from issuance, was finalized after six months of consultations and will …