The Supreme Court (SC) on Friday released an order amending its rules to unclog case dockets and speed up the judicial system. Under the order dated May 4, the fully court will now act only on administrative cases penalized with more than two years of suspension or a fine of more than P100,000. It used to hear cases involving a ...

The Justice department has approved the request of the imprisoned wife and son of a farmer who had been a political prisoner for 16 years and who died of cardiac arrest on Sunday to attend his wake on Friday. In a statement, Fides Lim, spokesperson of Kapatid, a support group for families and friends of political prisoners, asked the government ...

The Philippine Stock Exchange (PSE) suspended the trading of PAL Holdings, Inc. shares beginning Friday after the exchange noted a disclaimer of opinion of the company’s independent auditor on the listed company’s annual report. “We do not express an opinion on the accompanying consolidated financial statements,” SyCip, Gorres, Velayo & Co. said in the company’s annual report, which was disclosed ...

NEGROS ISLAND Biomass Holdings Inc. has forged binding agreements to divest its shareholdings in three biomass-fired power plants in the Visayas, its part owner Ayala-led AC Energy Corp. said on Friday. In a stock exchange disclosure, AC Energy said Negros Island Biomass will sell its equity stake to Singapore-based ThomasLloyd CTI Asia Holdings Pte. Ltd., subject to certain conditions. As ...

Transportation Secretary Arthur P. Tugade said Friday San Miguel Corp. has been quietly working on the P735-billion New Manila International Airport project in Bulacan. “Kailan magagawa ang groundbreaking, gustong gusto ko rin itulak ‘yan pero mahalaga na alam natin na may ginagawa ang San Miguel at si Ramon Ang,” Mr. Tugade said at a televised press briefing. (As for when ...

Megaworld Corp. is looking to expand its rental income portfolio by developing its project pipeline in the next five years, the company said on Friday. “We have numerous opportunities to explore in our growth pipeline, and we are prepared to take them on,” Andrew L. Tan, chairman and chief executive officer of Megaworld, said during the company’s stockholders’ meeting. The ...

Cebu Landmasters, Inc. (CLI) is donating a P115-million condominium to Cebu City to offer in-city housing for informal settlers in Cebu City’s Barangay Lorega-San Miguel. “CLI’s goal to help the VisMin (Visayas-Mindanao) housing gap includes well-planned projects for the marginalized,” Jose R. Soberano III, president and chief executive officer of Cebu Landmasters, said in a statement on Friday. The company ...

The peso is expected to trade in a narrow range during the year around the P48-to-the-dollar level before weakening in 2022 as the economy recover, Fitch Solutions said. In a note Friday, Fitch Solutions revised its exchange rate forecast for the year to P48.10 to the dollar from P48.40 previously, noting that the current account is expected to swing to ...

The Bangko Sentral ng Pilipinas (BSP) said it launched a Rural Banking Industry Strengthening Program to make the industry more resilient and responsive to the needs of their host communities. The BSP said an interagency working group will run the program, headed by Monetary Board (MB) member Bruce J. Tolentino, along with officials from the Agriculture and Trade departments. “The ...

The peso closed weaker against the dollar Friday after the central bank assured that policy rates will remain low for as long as needed to support the economic recovery. The peso closed at P48.43 to the dollar against its Thursday close of P48.38, according to the Bankers Association of the Philippines (BAP). Opening at P48.42, the peso posted a low ...