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Cash remittances settle to three-month low in August

MONEY SENT HOME by migrant Filipinos grew by less than 2% for the third straight month in August, as lingering geopolitical tensions continued to weigh on remittance flows and overseas worker deployment, analysts said. Read the full story.

Published Oct 16, 2026 · 8:45 AMOriginal source: BusinessWorld1 reads
MONEY SENT HOME by migrant Filipinos grew by less than 2% for the third straight month in August, as lingering geopolitical tensions continued to weigh on remittance flows and overseas worker deployment, analysts said. Read the full story.
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Rubio urges Lebanon to not return confiscated explosives to Hezbollah, US official says

WASHINGTON — US Secretary of State Marco Rubio spoke with Lebanese President Joseph Aoun about the confiscation of hundreds of kilograms of explosives from Hezbollah, a US State Department official said on Thursday. Mr. Rubio urged Mr. Aoun to hold accountable those who ordered, financed and directed the shipment, and “underscored that returning explosives to (Hezbollah) should be out of the question,” the US official said. Mr. Rubio urged direct military-to-military communication between Lebanese and Israeli forces “for deconfliction,” the official added. A Hezbollah lawmaker said earlier the explosives seized last week by Lebanese security forces belonged to his group. The lawmaker, Hassan Fadlallah, said Hezbollah had intended to use the explosives against Israel, whose troops are occupying swathes of Lebanese territory seized in this year’s war. A Hezbollah official and a Lebanese security source told Reuters the explosives seized in a car last week were intended to be used in explosive drones targeting Israeli troops. Mr. Aoun told Mr. Rubio the Lebanese army and security forces were fully carrying out decisions to prevent armed displays, confiscate weapons and combat smuggling, the presidency said, adding Mr. Aoun asked Mr. Rubio to pressure Israel to halt attacks on southern Lebanese towns and villages. On March 2, the Lebanese government specifically banned Hezbollah’s military activities after the movement launched rockets at Israel to back up Tehran, pulling Lebanon into the broader US-Israeli war on Iran that began on February 28. Tehran subsequently launched its own strikes on Israel and Gulf states that host US bases. US-Israeli strikes on Iran and Israeli attacks on Lebanon during the war have killed thousands and displaced millions. Under a deal reached t

Original sourceBusinessWorld
BAGANBAZAR GRAPHSource-attributed newsBUSINESS desk
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ERC removes capacity limits for power plants to boost electricity supply

By Sheldeen Joy Talavera, Reporter POWER GENERATORS can now build larger power plants after the Energy Regulatory Commission (ERC) removed capacity limits to boost electricity supply, encourage investments and foster greater competition. In a resolution dated Oct. 9, the ERC removed the previous limits of 600 megawatts (MW) per generating unit in Luzon and 150 MW in the Visayas and Mindanao. The regulator said lifting the limits will allow developers to propose larger generating plants based on market demand, technological advancements, and grid capacity. “By removing outdated capacity restrictions, we are opening opportunities for greater investments and additional power supply,” ERC Chairperson and Chief Executive Officer Francis Saturnino C. Juan said in a statement late on Wednesday. Mr. Juan said allowing larger generating plants could strengthen competition, improve energy security and help ensure more competitive electricity prices. The move comes as the country’s major power grids, particularly in the Visayas, are facing red and yellow alerts amid tight supply and rising demand. The Visayas grid logged 123 yellow and red alerts from January to late September due to forced shutdowns of several power plants. A yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. A red alert is declared when available supply is insufficient to meet demand, raising the risk of rotational brownouts. Despite the removal of capacity limits, proposed projects must still meet grid connection requirements and undergo a system impact study conducted by the National Grid Corp. of the Philippines (NGCP) or its accredited providers. The study will determine each proposed plant’s potential impact on the grid, including whethe

Original sourceBusinessWorld
BAGANBAZAR GRAPHSource-attributed newsBUSINESS desk
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Pag-IBIG Fund welcomes DMCI Homes as partner to expand condominium choices for members

Pag-IBIG Fund and DMCI Homes have partnered to give Filipino homebuyers more condominium options they can purchase through affordable Pag-IBIG Housing Loans. The agreement was signed on Friday, Oct. 16, as part of the government’s continuing efforts to expand housing opportunities under President Ferdinand R. Marcos, Jr.’s Expanded Pambansang Pabahay para sa Pilipino (Expanded 4PH) Program. Department of Human Settlements and Urban Development (DHSUD) Secretary and Pag-IBIG Fund Board Chairman Jose Ramon P. Aliling welcomed the partnership, which adds DMCI Homes to Pag-IBIG Fund’s growing network of leading property developer partners. “President Ferdinand R. Marcos, Jr. has directed us to expand access to decent and affordable housing for Filipino families. By partnering with leading developers, we bring together private-sector expertise and Pag-IBIG Fund financing to offer members more housing choices and help advance the Expanded 4PH Program,” Mr. Aliling said. Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta and DMCI Homes President Alfredo R. Austria signed the memorandum of understanding at the Pag-IBIG Fund Corporate Headquarters in Makati City. The signing was witnessed by DHSUD Secretary Aliling, DMCI Homes Chief Finance Officer Evangeline Hernandez-Atchioco, and Pag-IBIG Fund Senior Vice-President for Sales and Business Development Fermin A. Sta. Teresa, Jr. Under the agreement, DMCI Homes will identify participating residential projects and available units, including ready-for-occupancy properties, and offer preferential pricing and other incentives to qualified Pag-IBIG Fund members, subject to applicable terms and conditions. Pag-IBIG Fund, in turn, will provide affordable housing financing, loan counseling, and assistance to qualified prospective h

Original sourceBusinessWorld