DOTr to bid out MRT-3 concession

Inquirer.net - Oct 24, 2026

MANILA, Philippines — The Department of Transportation (DOTr) on Friday announced it will bid out next year the P103.6-billion concession for Metro Rail Transit Line 3 (MRT-3). “Through public-private partnership, we bring in the expertise and investment this line needs,” Transportation Secretary Giovanni Lopez said in a statement by his agency. “What we need here

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JG Summit to acquire P519-M Oriental Petroleum shares from unit

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MANILA, Philippines — JG Summit Holdings Inc. plans to acquire 37.05 billion shares in Oriental Petroleum and Minerals Corp. from its wholly owned subsidiary, placing the investment directly with the parent company. The conglomerate’s board said on Friday that it approved the proposed acquisition from JG Summit Capital Services Corp. on Oct. 22. READ: JG Summit

PNB 9-month profit jumps 15% to P21.3B

Oct 24, 2026

MANILA, Philippines — Philippine National Bank (PNB) saw its nine-month net income grow by 15 percent to P21.3 billion as lending expanded and the share of soured loans declined. On Friday, the Lucio Tan-led bank said its earnings in the January-to-September period rose from P18.5 billion a year earlier. READ: PNB first-half profit jumped 17% to

Washington cues $34-m grant to boost ube industry

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MANILA, Philippines — The US government is providing $34.1 million (about P2 billion) in funding to advance the development of the Philippine ube industry in the next few years. Lee Lipton, Washington’s Ambassador to the Philippines, said the US Department of Agriculture (USDA) had awarded the grant under its Food for Progress Program, which supports

International passenger traffic thru NAIA swells by 2.6%

Oct 24, 2026

MANILA, Philippines — International passenger traffic at Ninoy Aquino International Airport (Naia) has held up in the year so far, even posting modest growth despite flight disruptions and soaring airfares that have weighed on global travel for much of 2026. Data from New Naia Infra Corp. (NNIC), the operator of the country’s main gateway, showed that

After GCash, PSE chief sets sights on Maya

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MANILA, Philippines — Philippine Stock Exchange (PSE) president and CEO Ramon Monzon is setting his sights on a local listing for Maya, hoping GCash parent Mynt Inc.’s stock market debut will help persuade its rival to follow. “Let’s work on Maya, now that GCash has been listed already,” Monzon said in an interview. READ: Mynt

Japan debt watcher sees resilient PH economy

Oct 24, 2026

MANILA, Philippines — The Japan Credit Rating Agency (JCR) said the Philippine economy is likely to remain highly resilient to external shocks despite mounting tariff pressures, citing the country’s strong foreign exchange buffers and potential to diversify export markets. “Given its solid foreign currency liquidity position, JCR believes that the Philippines will remain highly resilient