Facebook Instagram Linkedin Twitter Youtube
Home Blog Page 603

Google tweaks Google Play conditions following EU pressure

REUTERS

PARIS — Alphabet unit Google said on Tuesday it will make it easier for app developers to steer customers to channels other than Google after the European Union (EU) competition watchdog charged it with breaching EU regulations.

In March, Google was hit with two charges of breaching the EU’s landmark Digital Markets Act (DMA), which aims to rein in the power of Big Tech.

Google has been in the European Commission’s crosshairs since early 2024 over whether it restricts app developers from informing users about offers outside its app store Google Play and whether it favors its vertical search services such as Google Flights.

Regulators have said Alphabet technically prevents app developers from freely steering consumers to other channels for better offers.

They said a service fee charged by the company for facilitating the initial acquisition of a new customer by an app developer via Google Play goes beyond what is justified.

In a blog post, Google said that following discussions with the European Commission, developers, and other experts, Google is updating certain terms.

“While we still have concerns that these changes could expose Android users to harmful content and make the app experience worse, we’re updating our External Offers Program for the EU with revised fees and more options for Android developers, following DMA discussions with the European Commission,” EMEA Senior Competition Counsel Clare Kelly said.

The company, which has been fined more than €8 billion ($9.3 billion) by the EU for various antitrust violations, risks fines of up to 10% of its global annual sales if found guilty of breaching the DMA. — Reuters

Approved building permits climb 13% in June

Approved building permits rose 13% year on year in June, driven by the double-digit growth in single house units for residential constructions, data from the Philippine Statistics Authority showed. Building projects covered by the permits grew to 16,128 in June from 14,270 a year earlier. These construction projects represented by the permits were valued at P51.67 billion in June, 28.4% higher than the P40.25 billion a year ago.

Approved building permits climb 13% in June

How PSEi member stocks performed — August 20, 2025

Here’s a quick glance at how PSEi stocks fared on Wednesday, August 20, 2025.

PSEi ends flat as market awaits Fed policy hints

BW FILE PHOTO

PHILIPPINE STOCKS ended flat on Wednesday as investors stayed on the sidelines ahead of a trading break and the US Federal Reserve’s Jackson Hole symposium.

The bellwether Philippine Stock Exchange index (PSEi) edged up by 0.20 point to close at 6,277.87, while the broader all shares index inched down by 0.07% or 2.76 points to 3,735.14.

Philippine financial markets are closed on Aug. 21 (Thursday) for the Ninoy Aquino Day holiday.

“The local market moved sideways, mostly in the positive territory as investors hunted for bargains following two consecutive days of decline. Gains dissipated, however, as confidence in the market remained weak amid lingering uncertainties and lack of positive catalysts,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message.

The PSEi opened Wednesday’s session at 6,288.28, higher than Tuesday’s close, and even hit an intraday high of 6,301.50 before moving lower at the closing bell.

“The PSEi ended flat as the market closed with investors seeking possible bargains after a series of declines in recent days. Moreover, many participants remained cautious, waiting for further developments from the Federal Reserve in the coming days that could solidify the market’s potential next move,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

The US central bank is holding its annual Jackson Hole gathering on Aug. 21-23, where Fed Chair Jerome H. Powell is set to make a speech and is expected to provide clues on their policy path moving forward.

Traders now place odds of about 85% on a quarter-point cut next month and expect about 54 basis points of reductions by yearend, Reuters reported.

US President Donald J. Trump said on Tuesday that Mr. Powell is “hurting” the housing industry “very badly” and repeated his call for a big cut to US interest rates.

The Fed’s next policy meeting will be held on Sept. 16-17.

Sectoral indices ended mixed on Wednesday. Services climbed by 1.65% or 37.07 points to 2,284.18; property rose by 0.52% or 12.71 points to 2,419.77; and industrials edged up by 0.03% or 2.75 points to 9,031.94.

Meanwhile, mining and oil declined by 1.63% or 157 points to 9,445.15; holding firms retreated by 1.57% or 83.95 points to 5,247.46; and financials decreased by 0.17% or 3.70 points to 2,114.54.

“Converge ICT Solutions, Inc. was the day’s top index gainer, jumping 4.43% to P14.62. DigiPlus Interactive Corp. was the main index laggard, falling 5.5% to P28.35,” Mr. Tantiangco said.

Value turnover dropped to P5.76 billion on Wednesday with 1.07 billion shares traded from P7.59 billion with 1.02 billion shares exchanged on Tuesday.

Decliners outnumbered advancers, 110 versus 86, while 49 names were unchanged.

Net foreign buying was at P161.83 million on Wednesday, a reversal of the P1.22 billion in net selling logged on Tuesday. — R.M.D. Ochave with Reuters

NAIA fee hikes not arbitrary, allowed by concession terms, operator says

REUTERS

PLANS to raise the passenger service charge (PSC) at the Ninoy Aquino International Airport (NAIA) are within the parameters of the concession agreement, the airport operator said on Wednesday.

In a statement, New NAIA Infra Corp. (NNIC) said the PSC adjustment is not arbitrary but follows the agreed schedule when the concession was awarded.

The Department of Transportation (DoTr), Manila International Airport Authority (MIAA) and its project transaction advisor Asian Development Bank had outlined the financial terms the concession holder will operate under when the NAIA public-private partnership (PPP) was auctioned.

“Any winning bidder would have implemented the same schedule,” it said.

PSCs, also known as terminal fees, are imposed on departing passengers. Currently, domestic travelers pay P200, while foreign travelers pay P550. These fees will rise to P390 and P950, respectively, starting next month.

NNIC said overseas Filipino workers are exempt from the terminal fee adjustment.

Last year, the NNIC, formerly the SMC SAP & Co. Consortium, signed a P170.6-billion contract to operate, maintain, and upgrade the country’s primary gateway for 25 years.

The NNIC plans to construct a new passenger terminal building with a capacity of 35 million passengers annually to alleviate airport congestion.

The government hopes to earn P900 billion from the project, equivalent to P36 billion per year. This projection compares with the P1.17 billion average annually remitted by the MIAA over the 13 years ending 2023, according to the DoTr.

“On privatization, NNIC said the turnover of NAIA’s operation was the result of a competitive and transparent bidding process, with safeguards to protect the public interest. The PPP model was pursued by the government precisely to ensure the needed funds, expertise, and technology are brought in to modernize the country’s primary airport without burdening taxpayers,” NNIC said. — Ashley Erika O. Jose

Palawan sites being studied for potential hydrogen resources

REUTERS

THE Department of Energy (DoE) said sites in Palawan are being investigated for potential hydrogen resources.

A joint technical team from the Energy Resource Development Bureau and the Energy Research and Testing Laboratory Services visited the sites during a four-day preliminary survey in Palawan last week, the DoE said in a statement on Wednesday.

The team collected critical water, gas, and rock samples from hot springs and outcrops in the municipality of Narra, southwest of Puerto Princesa, as well as in Puerto Princesa itself.

Initial fieldwork results from Kay’s Hot Spring in barangay Sta. Lourdes, Puerto Princesa City, and Bato-Bato Hot Spring in Narra’s barangay Calategas showed “promising indicators” of naturally occurring hydrogen, the DoE said.

The survey was conducted with the support of the Mines and Geosciences Bureau Mimaropa, the Palawan Council for Sustainable Development, and Palawan local governments.

The samples collected will undergo laboratory analysis by the DoE.

Previous reconnaissance activities had evaluated the Mangatarem Hot Spring in Pangasinan and the Botolan Hot Spring in Zambales.

That initial survey gathered baseline geological and environmental data to guide exploration activities, helping narrow down priority areas and decide on appropriate methods to develop the resource.

The Philippines is set to conduct its first-ever specialized training on hydrogen exploration later this year with Filipino and international technical experts. — Sheldeen Joy Talavera

Competition regulator clears Inoza-TBG deal

THE Philippine Competition Commission (PCC) said it cleared Inoza Business Holdings, Inc.’s proposed acquisition of a majority stake in TBG Food Holdings, Inc. (TBG Holdings).

According to the PCC, it found no competition concerns arising from the transaction on the supply of chicken meat, eggs, pork, and beef to the food service industry.

This is due to the “limited market shares and the availability of sufficient alternative suppliers,” it noted.

Holding company Inoza is an affiliate of Progeny Global Holdings, Inc. which has interests in agribusiness, food manufacturing, and limited-service restaurants.

Progeny operates the Bounty Fresh brand and limited-service restaurants Chooks-to-Go and Uling Roasters.

Meanwhile, TBG Holdings operates full-service restaurants under The Bistro Group, including Italianni’s, TGI Fridays, and Texas Roadhouse.

Its other restaurants include Siklab+, Olive Garden, Denny’s, Hard Rock Cafe, Modern Shanghai, El Pollo Loco, and Watami.

According to its website, The Bistro Group has 28 concept stores and 214 branches nationwide.

“The approval is expected to support continued competition in the food service and agribusiness sectors, while enabling strategic growth for both Inoza and TBG Holdings,” the PCC said.

Under the Philippine Competition Act, the PCC is tasked with reviewing mergers and acquisitions (M&As) to ensure that they do not harm competition, restrict consumer choice, or hinder innovation in the local market.

Earlier this year, the PCC raised the thresholds for M&A deals that will require notification to a size of party of P8.5 billion and a size of transaction of P3.5 billion.

Last year, the PCC reviewed 17 transactions valued at P784 billion, which brought the total deals it has reviewed to 328 transactions worth P6.27 trillion. — Justine Irish D. Tabile

BCDA, PSC to jointly develop sports facilities in Clark, Baguio

BCDA.GOV.PH

THE Bases Conversion and Development Authority (BCDA) said it and the Philippine Sports Commission (PSC) will jointly develop training and sports facilities in BCDA properties.

BCDA President and Chief Executive Officer Joshua M. Bingcang said that the partnership will be a “force multiplier.”

“Together we are laying the groundwork for future champions and promoting a healthier, more active Filipino nation,” he added.

The BCDA and PSC will jointly identify and assess BCDA properties that are developable into sports facilities.

Among the priority locations are New Clark City, the possible future site of a national training center, and Baguio City, a candidate location for a high-performance facility, the BCDA said.

“The initiative will also explore innovative funding models like public-private partnerships, implement advanced design and construction methods, and establish professional management to ensure the creation of world-class, sustainable, and self-sufficient sports infrastructure,” the BCDA said.

“The President’s directive is clear: build from the grassroots. We are building regional training centers across the country to speed up the national sports development agenda,” PSC Chairman John Patrick Gregorio said.

“These are investments that combine youth empowerment with economic progress. I am happy the BCDA and PSC are equally committed to creating opportunities for regional development through sports,” he added.

New Clark City is currently the site of a World Athletics-certified track and field stadium, a World Aquatics-approved pool, and a 525-unit Athletes’ Village. It is also expected to house the National Academy of Sports. — Justine Irish D. Tabile

BoC, CHEd budget use deemed ‘unsatisfactory’

BW FILE PHOTO

THE Bureau of Customs (BoC) and the Commission on Higher Education (CHEd) topped a list of agencies that were rated “unsatisfactory” in the use of their budgets, the Department of Budget and Management (DBM) said on Wednesday.

Also landing in the unsatisfactory category were the departments of Finance and Tourism, it said.

The DBM said the main reason behind the poor budget execution was procurement snags, but gave no specific details about which aspects of these agencies’ performance led to the unsatisfactory ratings.

The agencies’ performance ratings were announced at the launch of the DBM’s  Budget ng Bayan Monitor.

The DBM has been pressuring agencies to use their funding more efficiently and in a timely manner because slowdowns in government spending can derail economic growth.

Agencies that fail to spend adequately at the start of the year, when the bulk of the national budget is released, are often asked to submit “catch-up plans” to bring their spending back in line with expectations.

Budget Undersecretary Rolando U. Toledo said during the event: “The majority of agencies demonstrated commendable efforts in fulfilling their mandates, with several achieving outstanding ratings.”

Among the outstanding agencies were the Civil Service Commission, the Mines and Geo-Sciences Bureau, the Foreign Service Institute, the Public Attorney’s Office, and the National Wages and Productivity Commission.

Rated “very satisfactory” were the Office of the President, the Office of the Vice President, and the Department of Education.

Asked what the DBM plans for such agencies, Budget Secretary Amenah F. Pangandaman said the DBM will help them come up with recovery plans, but also raised the prospect of reduced funding if performance does not improve.

“Maybe we can first sit down with them and then ask for their catch-up plan,” Ms. Pangandaman said. “If it really can’t be improved, maybe we should just remove those projects.”

Mr. Toledo added: “While many agencies have shown commendable progress, the report also identifies areas for improvement, particularly in procurement efficiency, report submission, and strategic planning… “The findings serve as a valuable tool for guiding future reforms and enhancing public service delivery.” — Katherine K. Chan

Vietnam warned Philippines may seek other rice suppliers

FRANCISCO P. TIU LAUREL, JR. — PHILIPPINE STAR/JESSE BUSTOS

AGRICULTURE Secretary Francisco P. Tiu Laurel, Jr. said the Philippines is prepared to turn to other rice suppliers if Vietnam challenges the government’s plan to suspend rice imports for 60 days.

Speaking before the House committee on agriculture, Mr. Laurel said: “I would like to openly warn Vietnam: Please do not try to do this to the Philippines. If they insist on that, we will find ways. We won’t buy from Vietnam.”

The Vietnam Food Association asked its trade ministry to challenge the Philippine import suspension which starts in September, citing the harm to Vietnam’s rice industry, Reuters reported last week.

Mr. Laurel said the suspension is designed to provide relief to rice farmers during a record harvest, with farmgate prices sometimes falling to levels well below their production costs.

The Philippines is Vietnam’s top rice export market, shipping about 2.44 million metric tons (MMT) in the first seven months of 2025.

Asked which suppliers could step in if the Philippines seeks alternatives to Vietnam, Mr. Laurel told reporters: “I just came from India (which wants) to take a big share of the Vietnamese market. Myanmar is just starting to export to the Philippines and their production is also huge. Cambodia also.”

Mr. Laurel said President Ferdinand R. Marcos, Jr. is open to extending the 60-day import freeze if more is needed to “protect farmers.”

“The 60-day import halt might be extended to 90 days to allow for full recovery,” he said.

The Philippine Statistics Authority (PSA) reported that in the first six months, output of palay (unmilled rice) hit 9.08 MMT, up 6.41%.

The average farmgate price of palay fell 33.5% year on year in July to average P16.40 per kilo, according to the PSA.

“(The President is) also considering raising the tariff, but no decision has been made yet,” Mr. Laurel said.

The 60-day suspension is an opportunity to assess rice tariff levels, he said. “At least we have two months to decide while there are no imports.”

Mr. Marcos last year signed an executive order that lowered rice import tariffs to 15% from 35% to tame inflation. It took effect in July 2024, and is subject to review every four months until 2028.

Mr. Laurel recommended that the government gradually hike the tariff rates to prevent disrupting the market. “We have declared our official position (in favor of adjusting) the tariff from 15% to 25% first, and then 35% maybe months later.”

It is unlikely the Philippines will face consequences from the World Trade Organization (WTO) if a challenge is filed there, Mr. Laurel said.

“Even if the stoppage lasts two months, or even three, by the time anyone files a complaint, (the WTO) will not have made a decision as it has no adjudication body,” he said.

“We have to protect our farmers, and we will do what is needed,” he added. “National interest (outweighs) WTO rules, per its rule.” — Kenneth Christiane L. Basilio

Sustainability of PHL tuna seen at risk after SC ruling

BW FILE PHOTO

By Kyle Aristophere T. Atienza, Reporter

PHILIPPINE tuna could struggle to obtain sustainability certificates following a Supreme Court (SC) ruling that allowed commercial vessels to operate within municipal waters, tuna industry groups said on Tuesday.

“Allowing commercial vessels in municipal waters raises serious questions about stock management and environmental enforcement,” according to Veronica Rabano of Jarla Trading, a member of the Philippine Association of Tuna Processors Inc., (PATPI).

She said the ruling could jeopardize the industry’s access to crucial export markets which require traceability and sustainability of fish products.

The Bureau of Fisheries and Aquatic Resources (BFAR) estimates that about 70% of tuna caught in municipal waters is harvested by small-scale fisherfolk.

Bernard Mayo, who chairs the Municipal Fisheries and Aquatic Resources Management Council in Mamburao, Mindoro, said in a statement that municipal fisherfolk who supply tuna to processors have been affected by dwindling catches.

“We catch less tuna these days. We used to catch around 100 kilograms per trip. Now, we catch less than 50, if anything,” he said.

“The area designated for municipal fishing is already small, and (commercial operators) want to encroach on that too,” he added.

Ms. Rabano said the Supreme Court ruling, once enforced, will affect the entire tuna export supply chain.

“Maintaining our certifications is not just about brand reputation; it’s a matter of survival for our business. If we lose them, we risk losing access to our key markets,” she said.

PATPI is a member of the Philippine Tuna Handline Partnership (PTHP), which also includes the Gulf of Lagonoy Tuna Fishers Federation, Inc. (GLTFFI) and the Occidental Mindoro Federation of Tuna Fishers Associations (OMFTFA).

It took years and millions of pesos to complete the certification process for the PTHP, which became the first group to receive a Marine Stewardship Council (MSC) certification in October 2021.

The Philippines is the fourth-largest tuna exporter in the region, with its shipments hitting $500 million in 2024.

Aside from the European Union, other primary markets for Philippine tuna are the US and Japan, “all demanding proof of sustainability through third-party ecolabels, such as the Marine Stewardship Council (MSC) and Friend of the Sea (FOS) labels,” Oceana Philippines said.

“Obtaining these certifications enables exporters to enter more lucrative segments, command higher prices for certified products, and maintain access as regulatory standards evolve,” it added.

National Fiber Backbone seen completed next year

ETHERNET cable wires are connected to an internet router modem in this illustration photo taken on April 17, 2024. — JAAP ARRIENS/NURPHOTO VIA REUTERS CONNECT

THE Department of Information and Communications Technology (DICT) said it expects to complete the final phases of the National Fiber Backbone next year.

“What’s remaining of the national fiber backbone right now is Mindanao. The commitment we gave to the President is that the phases 4 and 5 will be finished before the next SONA (State of the Nation Address),” Information and Communications Technology Secretary Henry Rhoel R. Aguda said during the second general membership meeting of Philippine Chamber of Commerce and Industry on Wednesday.

Last week, the DICT announced that it has officially started building phases 4 and 5.

“Phases 1-3 have been completed — it means that we have connection between Batanes and Tacloban. The remainder, which is Mindanao will be finished ahead of schedule,” he said.

The project is expected to bring high-speed internet to more nodes in Mindanao via a 1,000-kilometer high-speed government-owned fiber network connecting Butuan, Cagayan de Oro, Bukidnon, Zamboanga, and Davao.

The DICT obtained a $287.24-million loan from the World Bank to accelerate phases 4 and 5.

The second and third phases added almost 1,800 kilometers to the fiber network, linking Regions II (Cagayan Valley), IV-A (Calabarzon), V (Bicol), VIII (Eastern Visayas), X (Northern Mindanao), and XI (Davao).

This builds on the 1,245-kilometer Phase 1 linking Ilocos Norte to Quezon City, which was completed in April last year. It brings an initial 600 gigabits per second optical spectrum capacity to at least 14 provinces and two National Government data centers

The National Fiber Backbone project aims to provide faster and reliable internet connectivity. The DICT expects around 70 million Filipinos to benefit from the project. — Ashley Erika O. Jose

1...602603604...13,720Page 603 of 13,720
© 2024 BusinessWorld Publishing.
All rights reserved.
Read our privacy guidelines
Facebook Instagram Linkedin Twitter Youtube