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PH foreign reserves hit $105.323 billion in June

Philippine foreign reserves posted a rebound in June as the national government increased its deposits with the Bangko Sentral ng Pilipinas (BSP) and income from the central bank’s investments, data released on Monday showed. Preliminary data show that the gross international reserves (GIR)—a measure of the ability to settle import payments and service foreign debt—stood at $105.323 billion as of end-June, up from $105.176 billion in May, and...


DOST: Sustaining P20/kilo rice depends on inflation, efficiency

The Department of Science and Technology (DOST) said that sustaining the P20-per-kilo rice program would depend on inflation and efficiency of production. During the 47th Annual Scientific Meeting (ASM) on Wednesday, DOST Secretary Renato Solidum Jr. said that maintaining the P20 pricing until 2030 was impossible, but it was possible to carry the equivalent value of the price and reduce the cost of rice. “We have to look at that in a long-term...


Palace confident PH in good place with US on trade deal talks

Malacañang expressed confidence Tuesday that the Philippines is in a ''good place'' when it comes to trade negotiations with the United States. ''Sa ating palagay opo dahil ang dalawang bansa naman po, ang Pilipinas at ang US, ay nagkaroon po ng pagkakasundo na magkakaroon po ng kooperasyon para sa economic development naman po ng Pilipinas,'' Palace Press Officer Undersecretary Atty. Claire Castro said in a briefing when asked if Manila is in a...


Kroger stores make change to coupon policy

Printed "Weekly Digital Deals" sheets are now available at entrances and customer service desks in participating Kroger-operated stores.


Nvidia becomes first US company to reach $4 trillion market cap

Nvidia bypassed Apple and Microsoft, the only other US firms with a market value of more than $3 trillion.


Homebuyer optimism surges among college students

The percentage of those who are very optimistic about buying a home in the next 10 years surged from 10 to 23 percent from April to June.


PH manufacturing posts faster growth in May 2025

The Philippine manufacturing sector grew at a faster rate in May as 13 of the 22 industry divisions posted positive annual growth rates during the month, data released by the Philippine Statistics Authority (PSA) on Tuesday showed. Preliminary results of the Monthly Integrated Survey of Selected Industries (MISSI) showed that the volume of production index (VoPI) for May posted a 4.9% annual increase, faster than the 4.3% in April, and the 4.2%...


Krafton Delays ‘Subnautica 2’ Game Ahead of $250 Million Payout

The South Korean publisher announced last week that the CEO and founders of ‘Subnautica’ studio Unknown Worlds were departing, but didn’t say why


Starbucks receives bids for stake in China business: US media

Starbucks has received around 30 offers from investment firms seeking a stake in the company's China business, US media reported Wednesday. Starbucks declined to comment directly on any offers received but said it would not exit China.


Malaysia Optimistic of Deal to Lower US Tariffs Before Deadline

Malaysia is optimistic it can reach a deal with the US to lower tariffs ahead of the Aug. 1 deadline for trade talks after President Donald Trump threatened to impose a steeper levy on the Southeast Asian country, according to Investment, Trade and Industry Minister Zafrul Aziz.


House probe on PrimeWater services sought

A congressional inquiry on the joint venture agreements (JVAs) between PrimeWater Infrastructure Corporation and local water districts has been sought in the House of Representatives. Zambales Rep. Jefferson Khonghun made the call under his House Resolution 22, saying there is a need to investigate these agreements and their impact on the provision of water services to their customers. PrimeWater, a wholly-owned subsidiary of Prime Asset...


NuDev breaks ground on pioneering lifestyle hub in Dasmariñas, Cavite

Property developer Nuestra Development Corp. (NuDev) has officially broken ground on SalWalk, a 1.8-hectare mixed-use lifestyle hub set to rise in the center of Dasmariñas, Cavite. In a news release, NuDev said SalWalk is designed as a walkable and sustainable commercial complex that aims to integrate green open spaces with retail outlets, dining establishments, and co-working areas. The project is positioned to tap into the rapid urban growth...


African Central Banks Weigh Policy Options Amid Trump’s Tariffs

Key African economies are set to stake out different approaches to interest rates in the coming weeks as they gauge the impact of US President Donald Trump’s new tariff proposals and their domestic influences on their economies and inflation.


TSMC Revenue Climbs 39% in Latest Sign of AI Spending Boom

Taiwan Semiconductor Manufacturing Co.’s revenue rose a better-than-anticipated 39% in the June quarter, buoying expectations for a sustained post-ChatGPT boom in AI spending.


T-Mobile Halts Diversity Policies After FCC’s Demands

T-Mobile US Inc. has rolled back policies related to diversity, equity and inclusion to appease the chairman of the Federal Communications Commission, who has made clear that merger deals won’t be approved without taking such steps.


Government Employees in Canada Face Job Cuts as Carney Looks to Trim Spending

The Canadian government told employees they may face job losses, as Prime Minister Mark Carney searches for spending cuts to keep the budget deficit in check.


Trump Says 50% Tariff on Copper Imports to Take Effect August 1

President Donald Trump said the US would begin levying a 50% tariff on copper imports from Aug. 1, confirming a move that will hurt American producers of everything from automobiles to appliances.


Asian shares mostly gain after big tech rally on Wall Street

Asian shares mostly gained on Thursday after a rally in U.S. tech stocks lifted the Nasdaq to an all-time high and helped Wall Street claw back most of its losses from earlier in the week. South Korea’s Kospi climbed 1.6% to 3,183.23 after the Bank of Korea kept its benchmark interest rate unchanged and as semiconductor shares rose following Nvidia...


X CEO Linda Yaccarino resigns after two years at the helm of Elon Musk's social media platform

X CEO Linda Yaccarino said she’s stepping down after two bumpy years running Elon Musk’s social media platform. Yaccarino posted a positive message Wednesday about her tenure at the company formerly known as Twitter and said “the best is yet to come as X enters a new chapter with” Musk’s artificial intelligence company xAI, maker of the chatbot Gro...


Credit card debt is actually down despite breaking records

When adjusted for inflation, the current total remains below the all-time high recorded in 2008.


Quicken’s Owner Explores Selling the Financial Software Pioneer

Quicken Inc., one of the pioneers in personal finance software, is exploring a potential sale that could value it at more than $1.5 billion, according to people familiar with the matter.


Andreessen Horowitz Leaves Delaware for Nevada, Tells Startups to Follow

The Silicon Valley venture capital firm Andreessen Horowitz is reincorporating its business from Delaware to Nevada and calling for its portfolio companies to do the same — citing concerns over bias in the state “against founders and their boards.”


Amazon Prime Day Sales Off 41% First Day, Brand Adviser Says

Amazon.com Inc took a big gamble this year by expanding its annual Prime Day summer sale to four days from two, betting the extension would give shoppers more time to navigate the millions of deals on its sprawling web store.


Student loan update: Interest payments expected to jump thousands

Analysis projects that a typical borrower will be forced to pay more than $3,500 per year, or $300 per month, as interest resumes.


X chief Yaccarino steps down after two years

Linda Yaccarino resigned Wednesday as CEO of X, the social media platform formerly known as Twitter, after two years at the helm of the Elon Musk-owned company. Yaccarino -- a former NBCUniversal advertising executive -- took over as X's CEO in June 2023, replacing Musk who had been serving in the role since his $44 billion acquisition of Twitter in October 2022.


Inflation rate snaps 4-month slowdown, accelerates to 1.4% in June

The Philippines’ inflation rate accelerated in June, snapping a four-month down streak, on the back of a faster increase in utility costs during the period, according to the Philippine Statistics Authority. At a press conference in Quezon City on Friday, National Statistician and PSA chief Claire Dennis Mapa reported that last June’s inflation print —which measures the rate of growth in consumer goods and services costs— moved up slightly to...


PH lifts ban on imported poultry from Brazil

The Philippines’ Department of Agriculture (DA) has lifted the ban on importing domestic and wild birds, including poultry products, from Brazil. In a statement on Friday, Agriculture Secretary Francisco Tiu Laure Jr. said he issued Memorandum Order No. 35, which lifted the importation ban on poultry and birds from the Latin American country imposed on May 19, following an outbreak of avian influenza in the South American nation. The previous...


MGallery Collection to open luxury resort in Panglao, Bohol in August

South Palms Resort & Spa Panglao, operated under French hospitality giant Accor’s MGallery Collection, is set to open its doors to tourists and travelers in August. In a news release, MGallery Collection said South Palms Resort & Spa Panglao will open on August 8, “introducing a new era of luxury hospitality and local storytelling to Bohol, the biologically diverse and heritage-rich island province in the Philippines.” The new resort is located...


Romania Sells $5.6 Billion in Foreign Bonds After Austerity Plan

Romania tapped international markets for the third time this year with a $5.6 billion bond sale after the government’s austerity package fueled a rally in its debt securities.


Trump administration announces "huge" change to help new homebuyers

Prospective homebuyers could use their rent payments to help qualify for a mortgage under a new plan.


Online gaming ban? Licensed operators say users will shift to black market sites

Online gaming operators licensed with the Philippine Amusement and Gaming Corporation (PAGCOR) on Wednesday opposed proposals for a total ban on online gambling in the country, warning that Filipinos might shift to unregulated sites on the black market. In a joint statement, the companies said they “are standing united with the PAGCOR and ‘forward-thinking’ lawmakers to call for stronger regulation—not a total ban—to keep Filipino players safe...


Ex-Airline Chief Bryan Bedford Confirmed by Senate to Lead FAA

The US Senate confirmed former airline executive Bryan Bedford to lead the Federal Aviation Administration, giving the regulator a permanent chief as it prepares to embark on an overhaul of the nation’s air traffic control system.


PAL to revive seasonal Manila-Sapporo flights

Flag carrier Philippine Airlines (PAL) announced Tuesday the return of its seasonal nonstop Manila-Sapporo flights, which the carrier said it will operate every winter season from November to March. In an advisory, PAL said the Manila-Sapporo flights will operate thrice a week using the Airbus A321neo aircraft from November 24, 2025 until March 27, 2026, and will operate every succeeding winter season moving forward. Flight PR 406 will leave...


Nvidia is again Wall Street's most valuable company. How it got there, by the numbers

Nvidia reached another milestone in its rise to becoming one of the world's most important companies: the first publicly traded company to reach a market value of $4 trillion. Nvidia and other companies benefiting from the boom in artificial intelligence have been a major reason the S&P 500 has recently climbed to a record. Their explosion of profi...


Cannabis giant announces major cuts: 'Extremely difficult market'

Toronto-based TerrAscend has chosen to exit the Michigan market, shuttering 20 locations and laying off 21 percent of its staff.


CIMB Bank raises 2025 customer base target to 10.5 million

Digital-only commercial bank CIMB Bank Philippines is now looking to onboard 500,000 additional customers in the second half of 2025, as the lender on Tuesday said it already hit its full-year target of 10-million clients in June. According to CIMB Philippines chief executive officer Vijay Manoharan, the 10-million customer mark was recorded as of end-June 2025, a target he announced in February. “We are there now. We’ll grow another 500,000 by...


CEO Linda Yaccarino announced resignation from Musk’s X

In a surprise move, Yaccarino says she is stepping from the social media platform formerly known as Twitter.


Senator Raises Climate Warning Amid Texas Floods and Trump’s Tax Bill

Sheldon Whitehouse will give his 300th floor speech on climate on Wednesday, less than a week after Congress rolled back clean energy incentives.


Trump Unveils New Tariff Rates, Including 50% Levy on Brazil

US President Donald Trump unveiled a new round of tariff demand letters on Wednesday, including a 50% rate on Brazil, one of the highest so far announced for the levies which are set to hit in August.


Biz group says cost, regulations threaten PH waste-to-energy projects

A business group on Monday underscored that cost, regulatory, and supply challenges have threatened waste-to-energy (WTE) projects in the Philippines. In a press release issued Monday, a policy note from the Makati Business Club stated that unresolved cost, regulatory, and supply challenges continue to cast doubt on the sector's viability. The MBC policy note stressed that cost remains to be the biggest barrier in achieving these projects. ''WTE...


Most stocks rise on trade deal optimism

Asian markets mostly rose Thursday on optimism that governments will hammer out deals to avoid the worst of US President Donald Trump's tariffs even after he broadened his range of measures. There was also little reaction to news that Trump had hit Brazil with a 50 percent tariff as he blasted the trial of the country's ex-president Jair Bolsonaro.


Palace still hopeful of PH upper middle-income status under Marcos rule

Malacañang on Friday expressed hope that the Philippines will still become an upper middle-income country under the administration of President Ferdinand “Bongbong” Marcos Jr. This, after the World Bank’s latest classification for fiscal year 2026 showed that the Philippines remained a lower-middle-income economy, even as its gross national income (GNI) per capita in 2024 stood at $4,470, up from GNI per capita of $4,320 in 2023. GNI per capita...


Hedge Fund Woodline Settles Harassment, Misogyny Lawsuit on Eve of Trial

Hedge fund Woodline Partners settled a lawsuit with a former employee over allegations that one of its co-founders sexually harassed staff and contributed to a hostile and misogynous work environment.


Unemployed Filipinos down to 2.03M in May 2025 —PSA

The number of unemployed Filipinos went down to 2.03 million in May from 2.06 million in April this year, the Philippine Statistics Authority said Tuesday. Based on the latest Labor Force Survey, PSA Undersecretary Claire Dennis Mapa said the unemployment rate dropped to 3.9% in May 2025 from the 4.1% recorded in both April 2025 and May 2024. “Ang unemployment rate ay naitala sa 3.9% or 39 sa kada 1,000 na individual na nasa labor force ang...


Microsoft Touts $500 Million AI Savings While Slashing Jobs

Microsoft Corp. is keen to show employees how much AI is transforming its own workplace, even as the company terminates thousands of personnel.


Customers seeking deals gave Amazon's Prime Day and competing sales a solid start

NEW YORK (AP) — The first day of Amazon's Prime Day event and competing retail sales that kicked off on Tuesday drove solid online spending compared to a year earlier, according to two data sources. Adobe Digital Insights, which tracks visits to e-commerce sites, reported that U.S. consumers spent $7.9 billion at online stores on Tuesday, a 9.9% in...


AI kingpin Nvidia crowned as first public company with a $4 trillion valuation

SAN FRANCISCO (AP) — Silicon Valley chipmaker Nvidia on Wednesday became the first publicly traded company to surpass a $4 trillion market valuation, putting the latest exclamation point on the investor frenzy surrounding an artificial intelligence boom powered by its industry-leading processors. Although Nvidia's market value dipped back below $4 ...


Philippines OKs importation of 424,000 MT refined sugar

The Philippine government, through the Sugar Regulatory Administration (SRA), has approved the importation of nearly half a million metric tons (MT) of refined sugar later this year. In its Sugar Order No. 08, series of 2024-2025, the SRA allowed the entry of a total of 424,000 MT of imported refined sugar, which should arrive in the country starting July 15, 2025, until not later than November 30, 2025. The agency said the sugar import program...


DigiPlus to buy back P6-B shares

BingoPlus operator DigiPlus Interactive Corp. on Monday announced a P6-billion share buyback program, which it said demonstrates its confidence in the company’s long-term growth amid proposals in Congress to implement stricter rules on online gaming. DigiPlus said the share repurchase program, approved by its board of directors, is valid over a 12-month period and can be renewed subject to approval. It will be funded through internally generated...


Autodesk Weighs Takeover of Engineering Software Firm PTC

Autodesk Inc. is weighing an acquisition of rival engineering-software provider PTC Inc., according to people familiar with the matter. PTC rose as much as 19% on the news.