Day: August 6, 2025

Manila: Favorable macroeconomic environment boosted SM Investments Corporation’s (SM Investments) net income in the first six months this year to PHP42.6 billion, up by six percent. The listed firm, in a disclosure with the Philippine Stock Exchange (PSE), posted PHP319.2 billion consolidated revenues as of end-June this year. According to Philippines News Agency, SM Investments president and chief executive officer Frederic DyBuncio highlighted the steady growth across the company’s core businesses, attributing it to supportive macroeconomic conditions in the Philippines. DyBuncio noted the Philippine economy’s 5.4 percent growth in the first quarter and the easing of inflation to its lowest

Manila: President Ferdinand R. Marcos Jr. expressed confidence in the financial health of the Social Security System (SSS), saying the agency can implement a pension hike without raising member contributions. Speaking at the latest episode of The BBM Podcast aired Wednesday, Marcos said the growing number of working Filipinos will offset any short-term effect on the SSS fund. According to Philippines News Agency, the SSS recently announced an increase in monthly pension benefits for qualified members without raising contribution rates. The adjustment is projected to have ‘minimal effects’ on the fund’s lifespan. Marcos downplayed concerns about long-term sustainability, saying that

Quezon city: At least 175 persons facing various offenses were arrested in police operations in Quezon City from July 27 to Aug. 2. In a news release Wednesday, the Quezon City Police District said those arrested included 48 drug suspects, 70 wanted persons, 54 gamblers, and three for illegal possession of firearms. According to Philippines News Agency, the illegal drugs, worth PHP794,896, were seized during the 31 operations. Meanwhile, PHP25,663 in bet money was confiscated from the 54 gambling suspects nabbed in 20 operations. Charges have already been filed before the City Prosecutor’s Office, including violations of Republic Act (RA)

Bicol: More than PHP2 million worth of illegal drugs were confiscated, three high-value drug suspects arrested, and illegal firearms seized in separate buy-bust operations in Bicol provinces, the Police Regional Office in Bicol (PRO-5) said Wednesday. The operations, which took place on Tuesday and Wednesday, were conducted in Camarines Sur and Camarines Norte. According to Philippines News Agency, Brig. Gen. Nestor Babagay Jr., director of PRO-5, reported that two individuals arrested on Wednesday in a buy-bust operation in Naga City, Camarines Sur, were high-value targets. They were caught with suspected shabu with an estimated value of PHP408,000. The suspects, identified

Manila: The National Grid Corporation of the Philippines (NGCP) has lifted the yellow alert status on the Visayas grid by 1 p.m. In an advisory, the grid operator announced that the available capacity as of 1:30 p.m. reached approximately 2,711 megawatts (MW), while the peak demand stood at around 2,217 MW. According to Philippines News Agency, the NGCP had previously raised a yellow alert status on the Visayas grid due to a small supply margin. This alert covered specific periods from 3 p.m. to 4 p.m. and from 5 p.m. to 7 p.m. On Wednesday, the power transmission operator reported