Business World

MANILA, Philippines —The National Grid Corporation of the Philippines (NGCP) issued a yellow alert for the Visayas grid on Friday as major coal power plants continued to be offline even amid high power demand. In its 8 a.m. advisory, the yellow alert will be between 3 p.m. and 10 p.m. …

SAN FRANCISCO — Microsoft said Thursday it will raise the price of its Xbox video game consoles worldwide by $100 to $150 starting August 1, blaming a component-cost surge fueled by artificial intelligence. In the United States, the cheapest Xbox, the Series S, will increase to $500 this summer, and …

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S&P Global Ratings has sharply lowered its 2026 growth forecast for the Philippines, citing the impact of the energy shock caused by the Middle East war and reduced government infrastructure spending in the wake of last year’s massive flood control project scandal. The debt watcher now expects the country to …

THE Bureau of Internal Revenue (BIR) has abolished its dedicated value-added tax (VAT) audit units as part of an organizational restructuring aimed at integrating the function into existing offices. Revenue Administrative Order (RAO) 4-2026 removed the Large Taxpayers VAT Audit Unit (LT VAU) under the Large Taxpayers Service (LTS) and …

MANILA, Philippines — Three former Department of Public Works and Highways (DPWH) officials face criminal tax charges after Bureau of Internal Revenue (BIR) uncovered years of unfiled tax returns, underreported income and tax liabilities amounting to more than P1.68 billion. The bureau on Thursday said the Department of Justice (DOJ) …

THE government plans to ramp up domestic borrowings in the third quarter (Q3), with the Bureau of the Treasury on Tuesday saying that it was looking to raise P1.12 trillion from T-bill and T-bond offerings. The amount is higher than the P784 billion for April-June, and Philippine Institute for Development …

PARIS — “Grand Theft Auto VI” could start breaking records months ahead of the game's November 19 release when preorders open Thursday for the long-awaited new installment in the rollicking gangster saga. On track to outsell any other cultural product this year — or in recorded history — the new …

MANILA, Philippines — Globe Telecom Inc. signed a term loan facility of P5 billion with BDO Unibank, Inc., part of which will be used to finance its capital expenditures (CAPEX); for debt refinancing and for general corporate funding requirements, according to the telco in a statement on Wednesday. Globe allocated …

NEW YORK — Video game heavyweight Valve on Monday launched a new console, dubbed the Steam Machine, that will set gamers back more than one thousand dollars due to chip prices inflated by the global AI race. The US company behind the popular Steam game marketplace and subscription platform — …