DBM to government agencies: Tone down holiday-making

Inquirer.net - Nov 12, 2026

MANILA, Philippines — The Department of Budget and Management (DBM) has reminded government agencies to exercise “judicious and prudent” use of public funds in conducting year-end celebrations and other events, citing the pressures being felt by Filipino households from the energy crisis and mounting El Niño. Under Circular Letter No. 2026-15, the DBM said upcoming events,

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Output surge boosts ACEN earnings by 84%

Nov 12, 2026

Output surge boosts ACEN earnings by 84%

MANILA, Philippines — ACEN Corp., the energy arm of the Ayala Group, finished the first nine months strong, with its profit soaring by 84 percent amid a surge in power output. The renewable energy producer said its net income attributable to equity holders of the parent firm had hit P3.3 billion, a significant improvement from the

DOE relaunches coal contract auction

Nov 12, 2026

DOE relaunches coal contract auction

MANILA, Philippines — The Department of Energy (DOE) has relaunched its controversial coal mine bidding, with the award set for early next year, even as investors raised concerns about the asset-surrender rule. The DOE is ready to welcome proposals from potential new coal operators, as it officially issued a notice of bidding “pursuant to DOE-Department

New terminals buoy ICTSI profit

Nov 12, 2026

New terminals buoy ICTSI profit

MANILA, Philippines — International Container Terminal Services Inc. (ICTSI) extended its strong 2026 run, boosting its bottom line by 20 percent in the first nine months as newly integrated terminals drove brisk cargo movement. Double-digit increases were recorded in the company’s cargo volumes, revenues and earnings. READ: ICTSI first half profit up 15% to $483.84 million

Globe prepares first of 3 undersea cables

Nov 12, 2026

Globe prepares first of 3 undersea cables

MANILA, Philippines — Globe Telecom Inc. is preparing to switch on the first of its three new international submarine cable systems by 2027, as it seeks to beef up its network capacity and redundancies against disruptions caused by cable cuts. In a media briefing on Wednesday, the Ayala-backed telco said the Asia Link Cable (ALC)

Luzon spot power rates surged 51%

Nov 12, 2026

Luzon spot power rates surged 51%

MANILA, Philippines — Households and businesses in Luzon may have to shell out more to settle their power bills this month, as the prices of electricity traded at the spot market spiked by 51.2 percent to P7.83 per kilowatt-hour (kWh) in October. Data from the Independent Electricity Market Operator of the Philippines (IEMOP) showed on

BOI to reach P1-trillion investment goal in 2026

Nov 12, 2026

BOI to reach P1-trillion investment goal in 2026

MANILA, Philippines — The country’s largest investment promotion agency (IPA) is confident of ending the year with at least P1 trillion in approved investments, enough to meet its full-year target. Board of Investments (BOI) managing head Ceferino Rodolfo said the agency would “definitely” achieve its trillion-peso goal, banking on renewable energy and infrastructure projects still in

Weak growth momentum to spill into 2027–BMI

Nov 12, 2026

Weak growth momentum to spill into 2027–BMI

MANILA, Philippines — The Philippine economy may have to wait until 2027 for a meaningful growth recovery, but weak momentum from this year is expected to spill into next year and limit the pace of the rebound, according to BMI. In a commentary, the Fitch Solutions unit said it cut its 2026 growth forecast to 2.6

$250-M World Bank funding for Tesda seen by year-end

Nov 12, 2026

$250-M World Bank funding for Tesda seen by year-end

MANILA, Philippines — The Department of Finance (DOF) is targeting the approval before year-end of $250 million in financing from the World Bank’s International Bank for Reconstruction and Development (IBRD) to fund the government’s technical and vocational education programs. The financing, equivalent to around P14.3 billion, will be allocated to the Boosting Employability in Strategic Technical

Brazil traders oppose PH suspension of pork imports

Nov 12, 2026

Brazil traders oppose PH suspension of pork imports

MANILA, Philippines — Industry groups in Brazil and the Philippines are urging the Philippine government to reconsider the two-month suspension of pork imports, warning that the measure could affect not only retail prices but also local enterprises. The Brazilian Animal Protein Association (Abpa) said the temporary import ban imposed by the Department of Agriculture (DA)

Why Philippine agriculture matters, even when budgets are tight

Nov 12, 2026

Why Philippine agriculture matters, even when budgets are tight

MANILA, Philippines — Philippine agriculture has suffered another significant setback, with El Niño-related damage and losses reaching nearly P10 billion and affecting more than 324,000 farmers nationwide. The losses come at a difficult time for Filipino households, as overall inflation reached 7.8 percent in October 2026, with food inflation at 6.4 percent, adding pressure on

Shell shocked: Fuel costs leave firm bleeding

Nov 12, 2026

Shell shocked: Fuel costs leave firm bleeding

MANILA, Philippines — Shell Pilipinas Corp. posted a net loss from January to September amid a sharp rise in expenses driven by higher fuel prices. In a regulatory filing, the oil giant said it had recorded net losses reaching P929.2 million, a reversal from P1.3 billion in the same period last year. READ: Shell Pilipinas bludgeoned

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