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Business World Philippines - June 04, 2026

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En este número

June 04, 2026

OECD slashes PHL growth projections

THE ORGANISATION for Economic Co-operation and Development (OECD) sharply downgraded its Philippine growth forecasts and raised its inflation outlook through 2027, warning of a temporary stagflationary shock amid elevated oil prices and weak domestic demand.

2 mins

Philippines may face new US tariffs

USTR cites failure to prohibit imports made with forced labor

3 mins

Philippine gaming industry's revenues seen to drop 19% this year

THE GAMING INDUSTRY’S gross gaming revenues (GGR) could decline by as much as 19% this year, as geopolitical tensions in the Middle East and tighter restrictions on online gambling dampened demand, the Philippine Amusement and Gaming Corp. (PAGCOR) said.

3 mins

Marcos considers extra budget amid oil shock

PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday said the government is considering a supplemental budget and legislative amendments to cushion the impact of the Iran war.

4 mins

SM Prime defers P12-B bond, awaits better terms

SM PRIME Holdings, Inc. has deferred the fourth tranche of its fixed-rate bond issuance, citing prevailing market conditions, in a move analysts described as a timing decision rather than a shift in funding strategy.

2 mins

RLC Shows Stability Through Steady Project Delivery

For investors seeking long-term value across market cycles, Robinsons Land Corporation’s diversified property platform offers a case for stability.

1 mins

Alabang first-quarter office demand plunges

THE Alabang central business district (CBD) in Muntinlupa City posted a sharp reversal in office leasing activity in the first quarter, with net take-up plummeting to 5,800 square meters after leading expansion activity in the previous quarter, according to Savills Philippines.

1 mins

NAIA operator names former Incheon exec as COO

SAN MIGUEL-LED New NAIA Infra Corp. (NNIC) has appointed Jong Hoon “John” Kim, a longtime executive from Incheon International Airport, as its chief operating officer (COO) as the company pushes ahead with the modernization of the Ninoy Aquino International Airport (NAIA).

1 mins

EDC sets P25-billion plan to boost Negros geothermal field

ENERGY DEVELOPMENT Corp. (EDC) is planning to invest about P25 billion to improve steamfield performance and expand energy storage capacity at its Southern Negros geothermal operations, according to a filing with the Department of Environment and Natural Resources.

1 mins

DoE sues Solar Philippines unit over undelivered Mindanao solar project

THE Department of Energy (DoE) has filed a complaint against businessman-turned-politician Leandro Antonio L. Leviste and his company for allegedly failing to deliver a committed solar project in Mindanao under the government's green energy auction program.

1 mins

Courts reject PrimeWater bid to block LGU water takeover

TWO regional trial courts have dismissed pleas filed by PrimeWater Infrastructure Corp. seeking to stop the San Jose del Monte City government in Bulacan from taking over local water operations.

1 mins

AirAsia says flights continue despite shutdown order

PHILIPPINES AirAsia, Inc. said it remains fully operational after reports that the Civil Aviation Authority of the Philippines (CAAP) had issued a cease-and-desist order over unpaid obligations.

1 mins

ICTSI unit adds hybrid carriers at Melbourne terminal

INTERNATIONAL Container Terminal Services, Inc. (ICTSI) said its Australian unit has deployed additional hybrid automatic container carriers at its Melbourne terminal as part of a capacity expansion program.

1 mins

Farmer fuel subsidy gets P25-million funding boost

THE Department of Agriculture (DA) on Wednesday announced that it obtained an additional P25 million in funding for farmer fuel subsidies.

1 mins

BIR classifies some foreign affiliates as digital service providers for VAT purposes

THE Bureau of Internal Revenue (BIR) said foreign affiliates involved in cross-border cost-sharing arrangements may be treated as nonresident digital service providers (NRDSP) which will require them to register with the agency.

1 mins

Uniqlo Philippines eyes skills training for 3,000 youth in Manila, Valenzuela

UNIQLO Philippines is planning to provide technical skills training to over 3,000 youth in Manila and Valenzuela cities to boost their access to employment and entrepreneurial opportunities.

1 mins

BoC target raised by P7 billion following latest DBCC meeting

THE Bureau of Customs (BoC) said its revenue target has increased by around P7 billion following the latest Development Budget Coordination Committee (DBCC) meeting.

1 mins

House agri panel hears testimony of pork farmgate crash following EO 116

THE House Committee on Agriculture and Food heard testimony from farmers’ and food-industry groups questioning the basis of Executive Order (EO) 116, which greatly increased the minimum access volume (MAV) for pork to 204,210 metric tons (MT) from 54,210 MT previously.

1 mins

Closing with ease

One of the more crucial, but often tedious, steps in the dissolution of an entity in the Philippines is securing a tax clearance, or Certificate of No Outstanding Tax Liability (CNOTL) from the Bureau of Internal Revenue (BIR).

4 mins

Saudi firm Acwa leases Clark site for solar facility

THE Bases Conversion and Development Authority (BCDA) said Acwa Power Philippines is leasing 500 hectares in New Clark City to build a solar facility that is targeted at serving data centers and other advanced industries expected to rise in the area.

1 mins

Inspectors find nearly 45% of rice vendors compliant with P50 cap on imported grain

THE Department of Agriculture (DA) said on Wednesday that its nationwide inspection of rice vendors found 44.8% to be compliant with the P50 per kilo price cap on imported grain.

1 mins

Oil reserve to reassure investors of PHL energy stability, DoE says

THE PLANNED strategic oil reserve is expected to enhance perceptions of energy stability in the Philippines, making the country more attractive to investors, the Department of Energy (DoE) said.

1 mins

How to live longer and build a business around longevity

Nineteen minutes into my interview with Mike Chan, CEO of House of Gaia, the Philippines’ first AI-powered longevity center, everything I thought I knew about health, wellness, and living longer changed.

4 mins

No reservation needed

THE WALK-IN TRADITION (no reservation needed) seems part of our service culture.

3 mins

Certifying the already certified

When solar equipment has already been tested under international standards by credible and internationally accredited laboratories, what exactly does another Philippine certification pathway add?

4 mins

Integrated infrastructure, AI seen accelerating push to develop smart cities in the Philippines

THE ADOPTION of integrated infrastructure and artificial intelligence (AI) will accelerate the development of smart cities in the Philippines, Dell Technologies, Inc. said, with edge-to-core solutions providing the foundation towards sustainability, efficiency, and connectivity.

1 mins

Visa, Garmin enable contactless payments in the Philippines via Garmin Pay

VISA AND GARMIN have launched Garmin Pay in the Philippines, enabling contactless payments via compatible smartwatches.

2 mins

AI now taking over entry-level white-collar tasks — academics

Artificial intelligence (AI) is increasingly automating tasks traditionally assigned to junior professionals, raising concerns about how future workers will gain the experience needed to advance into senior roles, according to academic leaders at IE University in Spain.

3 mins

China’s carmakers expand their presence in Europe

CHINESE automakers are expanding in Europe, betting on their competitive pricing and advanced technology to break into a market traditionally dominated by European and American brands, amid a global shift towards electric vehicles (EVs).

2 mins

Microsoft teases sweeping era of artificial intelligence-driven tools

Microsoft on Tuesday announced a sweeping slate of artificial intelligence (AI) initiatives, from autonomous workplace assistants and gadgets to Nvidia-powered personal computers (PCs) and a new in-house reasoning model, in a push to move beyond apps and remake computing around AI.

3 mins

Former Thai PM Thaksin to be freed after royal pardon

Former Thai Prime Minister (PM) Thaksin Shinawatra is set to be released from the remainder of his prison sentence under a royal pardon, the country’s justice minister told reporters on Wednesday.

1 mins

Hostilities flare in Iran war; oil jumps with talks at a stalemate

Gulf hostilities flared again on Wednesday, with an Iranian missile attack damaging Kuwait's airport and the US military carrying out strikes near the Strait of Hormuz, as diplomacy between Washington and Tehran showed little progress.

3 mins

Hong Kong vies to win over Central Asia as Lee tours region

Hong Kong’s leader arrived in Uzbekistan on Wednesday after visiting Kazakhstan, leading his government’s largest-ever delegation on a tour to promote the Chinese-ruled city as a financial and business gateway to China and Southeast Asia.

1 mins

After another 10-inning game, streaking Mariners battle Mets

THE Seattle Mariners have won a season-high seven games in a row with catcher Cal Raleigh and third baseman Brendan Donovan on the injured list (IL).

1 mins

Spurs-Thunder most-watched conference finals in 24 years

THE 2026 NBA Western Conference Finals, which the San Antonio Spurs won in seven games over the Oklahoma City Thunder, was the most watched conference final in 24 years, according to the league.

1 mins

Philippine chess will hold tournaments this year with National Age Group starting Thursday

IT will be a busy next few months for Philippine chess as it holds a slew of tournaments starting with the National Age Group Championships and the Battle of the Grandmasters (GMs) this month.

1 mins

Alex Eala faces Charaeva in second round of Lexus Birmingham Open

BETTER, fiercer, wiser. Alexandra “Alex” Eala is liking her chances on the fancied grass court with a better version of herself after an emphatic opening act in the WTA 125 Lexus Birmingham Open in England.

2 mins

Resolute Czech man Jakub Mensik makes French Open semis; Andreeva and Kostyuk set up meeting

Jakub Mensik battled past Brazilian breakout star Joao Fonseca with a 6-4, 6-3, 7-6(3) win to make the semifinals of the French Open on Tuesday and become the youngest Czech man to reach that stage at a Grand Slam.

3 mins

Darling Spurs, white-hot Knicks can look to NBA Cup as Finals preview

The Spurs are big favorites to win the NBA Finals, but observers thinking it will be an easy road are overlooking the fact that the New York Knicks beat San Antonio in the mid-December NBA Cup championship game.

3 mins

DA ramps up climate measures ahead of expected El Niño

THE Department of Agriculture (DA) on Wednesday said it is intensifying climate-resilient farming measures and emergency interventions as the state weather bureau warned that an El Niño episode is likely to develop in the coming weeks and could strengthen toward the end of the year, threatening crop production, fisheries, and rural livelihoods.

1 mins

House passes anti-dynasty bill on final reading

THE House of Representatives on Wednesday approved a measure banning second-degree relatives from simultaneously running or holding public office on third and final reading.

1 mins

Groups file obstruction complaint vs Cayetano, Padilla over Bato’s ‘escape’

A COALITION of civil society and pro-democracy groups filed an obstruction of justice complaint before the Office of the Ombudsman against two senators and a Senate official over allegations they helped prevent the arrest of Senator Ronald ‐Bato‐ M. dela Rosa, who is being sought by the International Criminal Court (ICC).

2 mins

Senators break impasse, elect Gatchalian as acting Senate chief

WITH a quorum of 12 senators, the Senate finally held a session on Wednesday, electing Senator Sherwin T. Gatchalian as its leader in the absence of Senator Alan Peter S. Cayetano, who led a two-day boycott that left the chamber ‐on the brink of a constitutional violation.‐

3 mins

Bank assets up at end-April

THE Philippine banking system remained strong as of April with banks’ assets expanding by 12% year on year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

2 mins

Warsh pledges to follow best of Fed’s traditions while also looking for change

US Federal Reserve Chairman Kevin Warsh pledged to follow “the best of the Fed’s traditions” in an opening note to the central bank’s more than 20,000 employees as he starts his four-year term, while also promising a broad look at what might be done differently.

2 mins

TDF yield slips before CPI data

THE AVERAGE YIELD on the Bangko Sentral ng Pilipinas’ (BSP) term deposits continued to slip week on week as demand for safer assets remained strong, with rate hike bets growing as inflation likely stayed elevated last month.

2 mins

Google Pay use in PHL remains low, Visa says

GOOGLE PAY usage in the Philippines remains low as the share of payments coursed through the channel to the total is still in the single digits, but adoption is expected to grow as it becomes more integrated in everyday transactions, Visa said.

2 mins

Philippine stocks end higher for third straight day

PHILIPPINE STOCKS rose for a third straight day on Wednesday on sustained buying, supported by bargain hunting and improved appetite for risk assets.

2 mins

Wall St. inches higher as AI zeal counters Iran jitters

The S&P 500 and the Dow closed modestly higher on Tuesday as risk appetite driven by artificial intelligence (AI) fervor was counterbalanced by tensions arising from US-Iran talks to reopen the Strait of Hormuz and end the months-long war.

1 mins

Gold steadies with focus on ME peace talks

GOLD held steady on Tuesday as market participants focused on developments in the Middle East (ME) and upcoming US economic data to gauge their impact on monetary policy.

1 mins

Crude oil prices edge up as Iran reviews US proposal to halt war

Crude oil prices climbed about 1% to a one-week high in volatile trade on Tuesday as the market waited for news on the Iran war, with Tehran reviewing a proposed agreement with the US to halt the conflict.

1 mins

1st AC Hotel in the Philippines opens in Ortigas

THE country’s first AC Hotel by Marriott opened on May 15 in Ortigas with a grand launch.

2 mins

Czech castle’s cache of precious wine goes on display in new-old bottles

A collection of late 19th century wine that for years was hidden away under a chapel floor in the Czech Republic’s Becov castle has been painstakingly restored by prestigious French winery Chateau d’Yquem and is on public display.

1 mins

Carmelo’s expands catering, menu

CARMELO’S, the restaurant owned by Cristina Santiago, the daughter of Melo’s founder Melo Santiago, had a good run last year for her catering services, so she’s diving into that.

1 mins

Lea todas las historias de Business World Philippines

Business World Philippines Description:

Editor: Philstar-Daily-Inc.

Categoría: Newspaper

Idioma: English

Frecuencia: Daily

BusinessWorld, the country’s leading business newspaper represents five decades of professional economic journalism. Founded in 1967 as Business Day, it is Southeast Asia's first daily business newspaper. BusinessWorld considered a standard of fairness, credibility and integrity in the journalistic world. Today, the business paper comes out Mondays through Fridays (with a Saturday exclusive online edition) with a national circulation of 151,000 as of 2016.