Business

The Philippine Deposit Insurance Corporation (PDIC) will dispose of 44 real properties across Visayas and Mindanao through an electronic public bidding (e-bidding) scheduled next month, as part of its continuing effort to liquidate assets of closed banks. In a statement last week, PDIC said bid submissions will be accepted from 9 a.m. on June 17 until 1 p.m. on June …

The Metropolitan Bank & Trust Company is boosting returns for savers by increasing the interest rate of its Online Time Deposit (OTD) to as high as 5% per annum, as more Filipinos seek safer and more structured ways to grow their money amid rising living costs. The bank said the higher rate is intended to encourage disciplined saving and help …

East West Banking Corporation has gathered its Priority clients for an exclusive market briefing titled “Partnership Perspectives: Guiding You Through Today’s Markets,” aimed at providing timely investment insights amid global economic uncertainty. The session featured an outlook from Chief Investment Adviser Bede Gomez, who discussed major global risks such as geopolitical tensions, oil price fluctuations, and persistent inflation pressures that …

By DIEGO C. CAGAHASTIAN The local semiconductor industry stands to realize unprecedented growth when plans for the Luzon Economic Corridor under the Pax Silica initiative of the United States materializes, although many sectors have expressed concern if these developments will indeed result in blessings for Filipinos. The Marcos administration has reserved 1,619 hectares of land in Tarlac for the establishment …

The Asian Development Bank (ADB) has been actively helping the Philippines, its small businessmen and entrepreneurs, along with ordinary Filipinos, in these times of great hardship and economic challenges. In a meeting between ADB President Masato Kanda and President Ferdinand Marcos, Jr. at the Malacañan Palace,  the multilateral lender vowed it is ready to provide more funding as the country …

The Department of Energy (DOE)  said on Friday that several new power facilities have been completed and may help augment the 2,4000 megawatts that the grid lost after two major transmission lines tripped this week. These new energy facilities, which can generate up to 1,400 megawatts, are being prepared to be connected to the country’s power grid, DOE Undersecretary Mario …

SM Supermalls and the People Management Association of the Philippines (PMAP) formally strengthened their commitment to empowering Filipino job seekers through the signing of a Memorandum of Understanding (MOU) held at the SM Supermalls Headquarters in Pasay City. This partnership reflects SM’s steadfast support for PMAP’s HumanITy mission—a vision that emphasizes a human-led, digitally enabled, and future-ready Philippines. Building on …

The first three months of 2026 proved to be a test of resilience for Bloomberry Resorts Corporation. The glittering gaming floors of Solaire Resort Entertainment City, usually bustling with high rollers, fell unusually quiet as a persistent chill swept through the VIP and Premium Mass segments. This market slowdown hit the company’s flagship property hard, dragging Gross Gaming Revenue down …

LANDBANK President and CEO Lynette V. Ortiz (left) and DA–Agricultural Credit Policy Council Executive Director Rallen O. Verdadero (right) lead the official launch of the ANYO Palay Lending Program, formalized through the signing of a Memorandum of Agreement (MOA) on 14 May 2026 at the LANDBANK Plaza in Manila, aimed at modernizing rice farming nationwide. “Digitalization has long been part …

San Miguel Corporation (SMC) delivered a strong start to 2026, with first quarter consolidated revenues rising 19% to P428.3 billion from the same period last year, supported by broad growth across its major businesses. The results were driven by stronger Fuel and Oil volumes, with revenues reflecting movements in global prices, along with new contributions from its Energy business and …