Day: September 4, 2025

Manila: Bargain hunting eventually lifted the Philippine Stock Exchange index (PSEi) on Thursday, and the peso closed sideways at the 56-level against the greenback. After several days of slide, the local bourse’s main index rose by 0.39 percent to 6,106.92 points, and the All Shares by 0.39 percent to 3,677.92 points. According to Philippines News Agency, all the sectoral indices also finished with gains, led by the Property and the Mining and Oil sectors, which both rose by 1.08 percent. Services increased by 0.78 percent, Financials by 0.27 percent, Holding Firms by 0.10 percent, and Industrial by 0.06 percent. Volume

Manila: Malaca±ang on Thursday warned of possible legal action against the Discaya-owned Great Pacific Builders and General Contractor Inc. over the sloppy construction of the Philippine Film Heritage Building (PFHB) in Intramuros, Manila. Poor structural design and substandard work were exposed after Palace Press Officer Claire Castro inspected the PFHB. According to Philippines News Agency, Castro highlighted potential civil liabilities for the construction firm, emphasizing that if the company cannot provide a valid reason for the subpar work and failure to adhere to the contract, they could face charges. The Department of Public Works and Highways (DPWH)-South Manila District Engineering

Manila: Bureau of Immigration (BI) Commissioner Joel Anthony Viado announced that 35 individuals have been placed under surveillance for their alleged involvement in irregular flood control projects. According to Philippines News Agency, the BI received an immigration lookout bulletin order (ILBO) on Wednesday afternoon, instructing immigration officers to closely monitor the individuals listed. This directive was issued following the signing of the order by Department of Justice (DOJ) Secretary Jesus Crispin Remulla. The request for the ILBO came from Senator Rodante Marcoleta, chair of the Committee on Accountability of Public Officers and Investigations, and Rodolfo Noel Quimbo, Director General of

Manila: The Department of Transportation (DOTr) is working to collaborate with Philippine Airlines (PAL) in an effort to reduce airfare costs to Siargao, a renowned tourist destination and popular surfing location in the Philippines. According to Philippines News Agency, DOTr acting Secretary Giovanni Lopez announced that the initiative to lower the airfare aligns with President Ferdinand R. Marcos Jr.’s directive to attract more local and international tourists to Siargao. The agreement with PAL aims to decrease the current one-way fare from PHP17,500 to PHP11,000. Lopez stated that there is already an agreement with PAL to potentially implement the reduced fare

Manila: Officials of the Construction Industry Association of the Philippines (CIAP) and the Philippine Contractors Accreditation Board (PCAB) will still be summoned for the investigation on the erring construction firms despite their resignations. This was stressed by Department of Trade and Industry (DTI) Secretary Cristina Roque on Thursday, a day after CIAP Acting Executive Director lawyer Herbert Matienzo resigned from his post. According to Philippines News Agency, Matienzo indicated in his resignation letter that he would cooperate with the investigation. Secretary Roque confirmed this to journalists during the Malikhaing Pinoy Expo at SM Aura in Taguig City. Meanwhile, two PCAB