BSP tightens reporting rules for banksMANILA, Philippines — The Bangko Sentral ng Pilipinas has tightened oversight of banks’ regulatory reporting. Under Circular 1231, approved by the Monetary Board in February, the central bank amended Section 171 and related provisions of the Manual of Regulations for Banks to strengthen oversight of banks’ reporting systems. In this respect, the BSP expects banks to adopt a sound reporting governance framework that promotes the integrity, accuracy and timeliness of prudential and regulatory reports submitted,” the circular said. Under the revised rules, banks must adopt board-approved policies covering the entire reporting process, including data collection, validation, review and submission. In addition, the central bank shortened the submission deadlines for several prudential reports submitted through its Prudential Reporting Innovation and Monitoring Engine.

AEV profit steady in 2025MANILA, Philippines — Core profit of conglomerate Aboitiz Equity Ventures Inc. (AEV) was steady at P25.5 billion in 2025, with its power business staying as the largest contributor to group earnings. AboitizPower contributed P10.4 billion in net income to AEV after delivering a strong operating performance in 2025. The food and beverage segment likewise continued to be a significant contributor to AEV’s earnings in 2025, posting a net income contribution of P7.6 billion. AEV attributed the segment’s growing contribution to strong volumes and margins from AboitizFoods, particularly across its flour, farms, livestock and trading businesses. The segment’s performance was also supported by the full-year contribution of Coca-Cola Europacific Aboitiz Philippines Inc. (CCEAP) following its financial close on Feb. 23, 2024.

The grant that turned heat into ‘gold’Notes on the beatMANILA, Philippines — A grant from the New Zealand government 50 years ago gave Energy Development Corp. (EDC) the spark it needed, allowing the then state-owned company to purchase its very first drilling rig. This paved the way for the successful commissioning of the Tongonan 1 and Palinpinon 1 steamfields in Leyte and Negros Oriental, firmly placing the Philippines on the global geothermal map. After 50 years, what began as a grant and a dream has grown into a legacy, with EDC continuing to strengthen the Philippines’ position as a global geothermal leader. This year, a new financial mechanism is poised to help the Philippines reclaim its place on the global geothermal stage. In the global geothermal ranking, the Philippines was at the third spot with a total installed capacity of 1,935 MW as of 2023.

Diesel may hit P90 per liter next weekMANILA, Philippines — Diesel prices could approach the P90-per-liter mark next week, with fuel costs expected to surge in double digits amid escalating tensions in the Middle East. In Metro Manila, standard diesel currently sells for between P49 and P66.59 per liter, while premium diesel ranges from P56.80 to P74.81 per liter. Possible P90 a liter for dieselThe DOE yesterday told the Senate foreign relations committee that pump prices of diesel could hit P80-P90 per liter. Energy Secretary Garin on Friday said gas stations could only increase prices of fuel – diesel, gasoline or kerosene – once a week, every Tuesday, unless the agency allows it to be more. Jeep drivers may stay homeManibela chairman Mar Valbuena said a gas station chain – Oiland – is already selling diesel at P90 a liter.

VP Sara lawyer on Madriaga’s P1 billion bribe claim: RidiculousVice President Sara Duterte holds a press conference on Wednesday, February 18, 2026 to announce her presidential bid in the upcoming 2028 elections. MANILA, Philippines — The defense team of Vice President Sara Duterte shot down allegations that self-confessed bagman Ramil Madriaga was offered P500 million to P1 billion to prevent him from testifying in the impeachment hearings. Madriaga’s lawyer Raymund Palad told “Storycon” on One News on Thursday that the alleged bribe happened before Feb. 14. This one is separate and distinct from the case that was filed by the Vice President,” she told Bilyonaryo News Channel. Majority of all members, regardless of the present and the absent members,” Luistro told radio dzBB on Thursday.

President Marcos to address United Nations on Middle East crisisMANILA, Philippines — President Marcos will call for peace, protection of civilians and respect for international law across the Middle East during his address before the United Nations in New York next week. Marcos will speak at the 70th Session of the Commission on the Status of Women and a special session of the UN General Assembly. “The UN is the most appropriate venue for our President to call for peace in the Middle East and the safety of all civilians, especially our countrymen,” Escalona said in Filipino. Marcos is scheduled to leave for the US on Sunday. This is his sixth visit to the country since assuming office in 2022.

DMW seeks supplemental budget if ME conflict worsensDuring the Senate foreign relations committee hearing yesterday, Sen. Risa Hontiveros asked the DMW if its P3.2-billion budget for repatriation this year is enough to assist the 1,416 Filipinos seeking help to be brought home safely from conflict zones. MANILA, Philippines — The Department of Migrant Workers (DMW) will seek a supplemental budget as the Middle East conflict is expected to drag on, with more overseas Filipino workers (OFWs) wanting to return home. Hontiveros asked DMW Secretary Hans Leo Cacdac if the agency would need a supplemental budget to help speed up the repatriation. Cacdac said the supplemental budget would be needed “in a worst-case scenario” or when the situation worsens. “The short answer is yes, we need supplemental funding,” he added.

China denies using Pinoys for spyingMANILA, Philippines — The Chinese embassy in Manila denied allegations yesterday that China has been tapping Filipinos for its espionage activities in the Philippines, which the National Security Council (NSC) earlier said has resulted in the arrest of at least three Filipinos. “We firmly oppose and strongly deplore irresponsible remarks made by certain Philippine agencies peddling so-called ‘Chinese spy’ narratives. Such accusations are malicious smears against China and yet another attempt to hype up the so-called ‘China threat’ rhetoric,” he said. Ji countered that the Philippines has been fabricating “a series of so-called ‘Chinese spy’ cases based on far-fetched allegations. The military, while refusing to reveal more information about the matter for national security reasons, gave assurance that it has enough safeguards to detect and counter such spying activities.

Herbosa, 3 others face graft cases for bid riggingMANILA, Philippines — High-ranking officials of the Department of Health (DOH) including Secretary Teodoro Herbosa are being accused of bid-rigging over alleged irregularities in plans to upgrade non-functional mobile health facilities in the provinces, mostly in Mindanao. The “Concerned DOH Employees,” who requested anonymity, filed a complaint against Herbosa, his head executive assistant Brigida Romualdez-Aquino, Executive Assistant VI Allan Tope and Undersecretary Glen Matthew Baggao for violating Sections 3 (a) and (e) of the Anti-Graft Practices Act (RA 3019), and Sections 92 (c) and (g) of the New Government Procurement Act (RA 12009), as well as Sections 7.7.1, 11 and 42 of the Implementing Rules and Regulations of RA 12009 arising from serious irregularities in the procurement of Mobile Primary Care Facilities (MPCF). They “quietly” filed the complaint before the Office of the Ombudsman yesterday, a source told The STAR. Murillo was later allegedly “removed” by Herbosa “because he chose to advocate for upgraded facilities that complied with safety and dignity standards” and was replaced by Baggao. The complainants accused Herbosa, Romualdez-Aquino, Tope and Baggao of conspiracy in “committing bid rigging in the procurement of DOH Mobile Primary Care Facility Project through undue interference and manipulation of technical specifications or terms of reference.”They asked the ombudsman to look into the alleged irregularities and “issue preventive suspension” against Herbosa, Romualdez-Aquino, Tope and Baggao, preserve all records of procurement and order a forensic examination of digital communications among them.

President Marcos OKs 4-day workweek for executive officesThis was among the measures laid down by Marcos in a video message to address the impending surge in prices of petroleum products next week. Marcos said not included in the four-day workweek are agencies that provide emergency or essential services, such as police, firefighters and offices that provide frontline services to the public. Philippine Chamber of Commerce and Industry chairman emeritus George Barcelon told “Storycon” on One News yesterday that private enterprises could go along with a four-day workweek, but not in all sectors. Power hikeMeanwhile, the Energy Regulatory Commission (ERC) has warned of possible upward pressure on electricity rates due to surging fuel prices. Citing IEMOP simulations, the ERC said soaring global fuel prices could push rates higher in the Wholesale Electricity Spot.

Sandiganbayan upholds rulings vs Revilla, CoThe anti-graft court’s Sixth Division also denied former congressman Zaldy Co’s attempt to prevent it from calling him a fugitive. MANILA, Philippines — The Sandiganbayan affirmed its earlier decision that denied the appeal of former senator Ramon Revilla Jr. and a former official of the Department of Public Works and Highways (DPWH) to cancel their graft cases for their involvement in the flood control scandal. The anti-graft court’s Sixth Division also denied former congressman Zaldy Co’s attempt to prevent it from calling him a fugitive. "Aallowing the case to be remanded for reconsideration or entertaining prohibited pleadings at this stage would cause unwarranted delays,” it said. — Aubrey Rose Inosante

DA tightens food watch as inflation pressures buildFresh vegetables are displayed at a market in Quezon City on March 4, 2026. MANILA, Philippines — The Department of Agriculture (DA) has tightened its food watch initiative following faster inflation. This base effect contributed to the uptick in food inflation,” the department said. “Food inflation alone accounted for 0.6 percentage point of the country’s overall February inflation,” the DA said. This sharper rise signals that household budget pressures could intensify if global risks worsen, the DA warned.

4-day workweek in gov't announced amid fuel price surge fearsPresident Ferdinand Marcos delivers a speech at the Philippines-Korea Business Forum in Pasay, Metro Manila on March 4, 2026. MANILA, Philippines — President Ferdinand Marcos Jr. ordered government offices to temporarily shift to a four-day workweek starting March 9 as the government prepares for possible fuel price hikes linked to tensions in the Middle East. Possible oil price spikeMarcos warned that a disruption in the Strait of Hormuz — a key shipping route for global oil — could sharply increase local fuel prices. Other measures consideredMarcos urged Congress to authorize him to reduce excise taxes on petroleum products if global crude oil prices exceed $80 per barrel. The government is also preparing fuel subsidies and cash transfers for sectors affected by rising oil prices, though details have yet to be released.

Middle East war could last up to 8 weeks – DFAMANILA, Philippines — The escalating conflict in the Middle East could last four to eight weeks, the Department of Foreign Affairs said, giving a loose estimate based on information it has received. Pangilinan pointed out that when Russia invaded Ukraine, early estimates had underestimated how long the war would last. DFA Assistant Secretary Germinia Aguilar-Usudan said initial reports suggest the conflict may last longer than previous confrontations between Israel and Iran. "The projection from the reports that we receive, it will take four weeks to eight weeks. The DFA estimates that about 2.4 million Filipinos live and work across the Middle East.

MRT-3 inspects train after commuter posts about cockroachesMANILA, Philippines — MRT-3 management inspected and disinfected its train after a commuter reported seeing small cockroaches inside a carThe report surfaced after a passenger posted in a commuter Facebook group about spotting small insects between the seats and handrails of a train car. Transportation Secretary Banoy Lopez instructed MRT-3 General Manager Michael Capati to look into the report and address the issue promptly, the MRT-3 office said. Capati then issued a Notice to Explain to Sumitomo Corp., the private firm responsible for MRT-3 maintenance. "The concerned train set underwent immediate inspection and disinfection by the maintenance team" the MRT-3 office said. Regular cleaning and inspection procedures are conducted across all train sets and stations as part of the rail line's maintenance program, the MRT-3 management said.