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'Huge mistake': Ex-defence minister wants barracks retained

Former defence minister and senior army officer Linda Reynolds has described the federal government's plan to sell-off Leeuwin and Irwin barracks in Perth as a “huge mistake”.

Published Oct 8, 2026 · 7:15 PMOriginal source: Business News - Latest Headlines1 reads
Former defence minister and senior army officer Linda Reynolds has described the federal government's plan to sell-off Leeuwin and Irwin barracks in Perth as a “huge mistake”.
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Business News - Latest Headlines

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Philippines, World Bank sign €212.7-M water project loan

THE PHILIPPINES has signed a €212.7-million (around P14.9 billion) loan agreement with the World Bank to finance water supply and sanitation projects in Bohol, Siargao and Jolo, according to a document released by the multilateral lender. “The objectives of the project are to increase access to safely managed water supply and sanitation services and improve the performance of water service providers in selected areas of the Philippines,” the World Bank said in a loan agreement document dated Oct. 6. The loan agreement will support the first phase of the Philippines Accelerated Water and Sanitation Project in Selected Areas. It was signed by Finance Secretary Frederick D. Go on Oct. 6 and World Bank Division Director Zafer Mustafaoğlu on Sept. 23. In Bohol, the project will support the development of water supply infrastructure and watershed protection measures in the Loboc Cluster. These include a bulk water supply system sourced from the Loboc River, rehabilitation and expansion of water distribution networks, and improvements to water, sanitation and hygiene (WASH) facilities in public schools, daycare centers, health centers and other institutions. In Surigao del Norte, the project will support the construction of water supply infrastructure in selected municipalities on Siargao Island. It will also finance fecal sludge management facilities, septage collection and transport equipment, and improvements to WASH facilities in public schools and spaces across the island. In Sulu, the project will support the construction of water supply systems in Jolo and barangays in Indanan and Patikul, alongside WASH facilities in public schools and institutions in Jolo. The project will also support institutional reforms and capacity-building for local governments and water service

Original sourceBusinessWorld
BAGANBAZAR GRAPHSource-attributed newsBUSINESS desk
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PHL residential property recovery may take until late 2027 — S&P

A MEANINGFUL recovery in the Philippine residential property market may not emerge until the latter part of 2027, as elevated condominium inventories, inflation, and high borrowing costs continue to weigh on homebuyers, according to S&P Global Ratings. S&P Global Ratings Analyst for Corporate and Infrastructure Ratings Johann Tan said the property sector is expected to face continued pressure this year and next, with residential sales unlikely to recover significantly in the near term. “They will take some time to go away, and overall, it remains quite a weak outlook with meaningful improvement in the residential segment, only expected in the later part of 2027, where hopefully these macro headwinds die down,” he said during a webinar on Thursday. He said inflation, elevated borrowing costs, and other economic pressures have weakened residential demand, with developers reporting lower pre-sales in the first half of the year. S&P said residential pre-sales among four major Philippine developers — Ayala Land, Inc., SM Prime Holdings, Inc., Robinsons Land Corp., and Megaworld Corp. — declined by 7% year on year in the first half of 2026. The ratings agency said condominium inventories remained elevated at approximately 80,000 units, including nearly 30,000 ready-for-occupancy units, particularly in Metro Manila. Developers are responding by reducing new project launches, postponing developments, and prioritizing the sale of existing condominium inventories, according to S&P. Mr. Tan said developers may offer discounts, promotional packages, and more flexible payment terms to reduce their unsold ready-for-occupancy units and free up capital tied up in these properties. S&P also expects developers to continue focusing on more affordable residential projects and areas outside

Original sourceBusinessWorld