Stories from Manila · Philippines

Manuel Araneta has divested a bulk of his preferred shares in PhilWeb Corporation. The divestment follows recent market activity regarding the company's preferred stock.

Labor groups held rallies in Manila to mark May Day. President Ferdinand Marcos Jr. vowed better jobs and protections during the event. Protesters are calling for a daily minimum wage hike and the expansion of income tax exemptions. They also demanded the arrest of corrupt government officials. Approximately 45,000 people are expected to attend each of two separate labor rallies in the Philippines. The events aim to promote workers' rights and drive social change. He stated that while not every job can be protected, every worker matters. The rallies are part of broader May Day observations across Asia. The rally occurs amid broader regional demonstrations across Asia.

A Philippine civil society coalition has launched a mission to deliver food, fuel, and medical outreach to island communities in the West Philippine Sea. The group aims to demonstrate that the waters can serve as a zone of peace and solidarity rather than military aggression.

The Asian Development Bank (ADB) has announced a $10 billion support package to develop the ASEAN power grid. This regional initiative aims to promote renewable energy and develop cross-border electricity transmission and distribution infrastructure.

Organizations are calling for long-term measures in the Philippines, including the suspension of fuel well taxes. The BBC reported that while price control mechanisms could be installed, the government in a deregulated regime may prefer higher prices to maintain tax revenue.

The Saudi Arabian embassy in the Philippines announced it will close its doors on Friday for a public holiday. Operations are expected to resume following the holiday.

The Bureau of Internal Revenue (BIR) has ordered a tax audit of Vice President Duterte and her husband. The investigation follows recent developments regarding the family's financial filings.

The government has announced plans to establish an artificial intelligence governance framework within a two-month timeframe.

A Rolls Royce vehicle linked to a Philippine Offshore Gaming Operator (POGO) has been sold for 25 million pesos. Eleven other assets related to the entity remain unliquidated.

The Department of Public Works and Highways (DPWH) has demanded payment from a bus company for repair costs. The costs stem from a fire that damaged a major flyover in Metro Manila.