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Three local business clans landed on the prestigious 2016 Forbes list of Asia’s Richest Fam­ilies, with the Sy family of the SM empire placing 17th, with a net worth of $12.8 billion. The Zobel family of the Aya­la Group took the 37th spot, with a net worth of $5.1 billion, and the Aboitiz family of the Aboitiz Group, was 39th, …

The government plans to bid out new ra­dio frequencies to firms that will challenge the domination of Philippine Long Distance Telephone Co. Inc. (PLDT) and Globe Tele­com in the telecommunications industry, the National Telecommunications Commission (NTC) said. The NTC said it plans to bid out unas­signed frequencies by the middle of next year to pave the way for the entry …

By Riza Lozada After a long period of stagnation, ex­ports recovered in September as they posted a 5.1-percent growth to end 17 months of consecutive contractions going back to June 2015.

The traffic situation in Metro Manila and other urban centers will get worse before it becomes bet­ter, as the government em­barks on massive projects to improve travel among key cities, President Duterte said. Mr. Duterte has ap­pealed to the public for more understanding as big-ticket projects under the govern­ment’s “Build, Build, Build” program are expected to worsen the traffic congestion …

The Department of Energy (DOE) will seek the revival of the Bataan Nuclear Power Plant (BNPP) after President Duterte allowed Energy Secretary Alfonso Cusi to study the possibility of reopening it, with specific instructions to prioritize the security and safety of the public.

Alex V. Buenaven­tura recently took his oath of of­fice as the ninth president and CEO of the state-owned Land Bank of the Philippines (LandBank), with a thrust to reinforce the bank’s development mandate anchored on pro­moting inclusive econom­ic growth especially in the countryside, with a stronger focus on helping farmers and fishers.

Leading mass-housing developer 8990 Holdings Inc. posted a flat prof­it in the first three quarters of 2016 amid the sharp rise in finance costs and higher cost of sales.

By Luis Leoncio The administration’s planned infrastructure spending would be the biggest in terms of its share to total economic output since the term of former President Ferdi­nand E. Marcos in 1969, the Depart­ment of Public Works and Highways (DPWH) said.

The country’s growth will weather the weakening of the Philippines peso against the US dollar, which was al­legedly triggered by President Duterte’s outbursts against the United States, Rep. Joey Salceda of Albay’s second district, said.

The administration’s economic man­agers have formally guaranteed “so­cial-protection initiatives” to shield the poor and low-income households from the impact of the proposed ad­justments in excise fuel taxes under the initial comprehensive tax-reform program that the government submit­ted last September to Congress for its approval.