SM to exit mining, data center business“Right now our portfolio is actually very synergistic with each other, except perhaps the Atlas Mining. MANILA, Philippines — SM Investments Corp., the holding company of the SM Group, is mulling the disposal of its stake in listed Atlas Consolidated Mining and Development Corp. as it pursues its planned exit in the data center business. Meanwhile, DyBuncio said SM Investments would also pursue its planned exit in the data center business, which the company expressed last year. “That data center business actually has not progressed very much, so we’re probably going to be exiting that business,” DyBuncio said. YCO Global Cloud Centers Holdings Inc. is currently part of the portfolio investments of SM Investments.

2025 budget deficit swells to P1.58 trillionThe budget shortfall was 4.7 percent wider than the P1.51 trillion gap recorded in 2024, as expenditures slightly outpaced revenue growth, data from the Bureau of the Treasury (BTr) showed. Last year’s budget deficit also exceeded the government’s forecast of P1.56 trillion by 0.97 percent based on the Cabinet-level Development Budget Coordination Committee meeting in June 2025. A budget deficit occurs when government expenditures exceed revenue collections, meaning the state spends more money than it generates. This year, the economic team aims to bring the budget deficit to P1.61 trillion and cut the deficit-to-GDP ratio to 5.3 percent. Government expenditures rose by 1.8 percent to P6.03 trillion in 2025 from P5.93 trillion in 2024, outpacing revenue growth.

Toyota remits record P52.5 billion in duties, taxesIn a statement, TMP said that it was recognized as the Top 2 Importer for 2025 by the Bureau of Customs after it remitted a record-breaking P52.517 billion in duties and taxes last year. MANILA, Philippines — Leading automotive firm Toyota Motor Philippines Corp. (TMP) remitted record-high duties and tax payments amounting to P52.5 billion to the government last year, making it the country’s second biggest importer. In a statement, TMP said that it was recognized as the Top 2 Importer for 2025 by the Bureau of Customs after it remitted a record-breaking P52.517 billion in duties and taxes last year. It is also higher than the P43.91 billion remitted by the company in 2024. Beyond its national tax contributions, TMP is helping drive regional growth in Laguna, where its headquarters and manufacturing plant are located.

MANILA, Philippines — Amid the raging conflict in the Middle East and its anticipated impact on consumer oil prices, President Marcos is eyeing “special powers” from Congress to lower the excise tax on fuel. He stressed that the option to reduce excise tax is “an emergency measure.”“I will discuss it with the leadership of Congress and to see if it’s going to be an emergency measure. Show of supportSeveral senators and congressmen have already shown support for the lowering of excise tax on fuel. “I am in favor of granting the President those powers to be able to lower the excise tax on fuel. House Assistant Minority Leader and Gabriela Women’s Party Rep. Sarah Elago said both excise tax and VAT on oil should be scrapped.

Over 70 Middle East flights canceled, divertedIn this photo from June 2025, hundreds of overseas Filipino workers head for the counters of Emirates Air at the Ninoy Aquino International Airport Terminal 3 after Philippine Airlines canceled flights to the Middle East due to conflict between Israel and Iran. MANILA, Philippines — Seventy-two international flights to and from Riyadh, Qatar, Abu Dhabi, Dubai, Bahrain and Kuwait have been canceled and three more diverted as a result of the ongoing conflict in the Middle East between the United States, Israel and Iran. The Civil Aviation Authority of the Philippines (CAAP) said Philippine Airlines canceled 16 flights between Manila and Riyadh, Doha and Dubai while two flights were diverted. Meanwhile, Emirates Air canceled 19 flights to and from Dubai, Etihad Airways (10 flights to and from Abu Dhabi), Kuwait Airways (two flights to and from Kuwait), Gulf Air (five flights to and from Bahrain), Qatar Airways (10 flights to and from Doha and one diverted). Shipping lines are also directed to monitor maritime advisories and warnings issued by the International Maritime Organization, the United Kingdom Maritime Trade Operations and relevant flag state authorities.

Philippines, South Korea sign deals on defense, agricultureMANILA, Philippines — President Marcos met with South Korean President Lee Jae Myung yesterday at the start of the latter’s two-day state visit, which saw the signing of 10 agreements on key sectors, including defense, nuclear energy and technology. The agreements come as both nations vowed to deepen their 77-year-old ties cemented by their common experiences during the Korean War. During his bilateral meeting with Lee, Marcos pointed out that the South Korean leader’s visit coincides with the 77th anniversary of the two countries’ diplomatic relations. “We have also agreed to strengthen substantial cooperation in the field of nuclear power. Building on the results of the feasibility study for the Bataan Nuclear Power Plant resumption and the MOU for cooperation on new nuclear power projects, we will become optimal partners for nuclear power cooperation,” the South Korean president added.

Global airspace shutdown hits Philippines' mail to 35 countriesMANILA, Philippines — The Philippine Postal Corp. has temporarily suspended all international outbound mail services to 35 countries due to escalating military conflict in the Middle East. In an advisory on Tuesday, March 3, PHLPost said the suspension takes effect immediately and covers all classes of mail, including standard letters, parcels and Express Mail Service shipments. PHLPost assured the public it is prioritizing the security of mail items while taking steps to prevent major service backlogs. Bahrain, Egypt, Israel, Iran, Jordan, Kuwait, Lebanon, Morocco, Nigeria, Oman, Qatar, Saudi Arabia (Dammam, Jeddah, Riyadh), South Africa and the UAE (Dubai). PHLPost said it will issue further updates once international transit routes stabilize.

Ex-ICC judge weighs in on Duterte's confirmation of charges hearingsA man holds a portrait of former Philippines president Rodrigo Duterte in front of the International Criminal Court (ICC) where he will be appearing, in The Hague on March 14, 2025. MANILA, Philippines — Rodrigo Duterte's confirmation hearings before the International Criminal Court have elicited mixed reactions, partially reflecting political allegiances. Ahead of the confirmation hearings, debate had already emerged over whether the drug war's extrajudicial killings should have been tried domestically. Duterte's confirmation of charges hearings were held from February 23-27. The Pre-Trial Chamber I has 60 days from the day it concluded hearings to decide whether or not Duterte's case should proceed to a full trial.

Marcos meets South Korea's Lee in Manila, securing 10 dealsPhilippine President Ferdinand Marcos (R) and South Korea's President Lee Jae Myung (L) lead their delegations during a bilateral meeting at the presidential palace in Manila on March 3, 2026. MANILA, Philippines — President Ferdinand Marcos Jr. welcomed South Korean President Lee Jae Myung to Malacañang Palace, marking Lee's first visit to the Philippines since assuming office. Lee arrived in Manila on Tuesday, March 3 with First Lady Kim Hea Kyung and was accorded full welcome honors. He also South Korea's assistance for the Panguil Bay Bridge in Mindanao, which is now operational. An amendment to a defense procurement arrangement between the Department of National Defense and Korea's Defense Acquisition Program Administration.

VP Sara calls for permanent motorcade ban, cites rising fuel costsIn this photo uploaded on Facebook on March 2, 2026, Vice President Sara Duterte personally visits residents affected by Typhoon Basyang at Iligan City Public Plaza. MANILA, Philippines — Vice President Sara Duterte has called on local government units to permanently ban motorcades and vehicle caravans amid rising fuel prices due to the conflict in the Middle East. The vice president's statement comes after her supporters held a motorcade in Davao City to back her 2028 presidential bid. "These events not only lead to higher fuel costs but also worsen air pollution and increase traffic congestion," Duterte said. On March 1, hundreds of Duterte supporters in Davao City launched the "Green Rise: Action and Hope for 2028" with a dawn motorcade from Freedom Park.

Helicopter crashes in Rizal; 2 reported deadThe helicopter that crashed in Pililia, Rizal on the morning of March 3, 2026. MANILA, Philippines — A civilian helicopter crashed in Pililla, Rizal, on Tuesday morning, March 3, leaving two people dead and three others injured, according to local officials. In a statement, the Rizal Provincial Police Office said the crash occurred at 7:27 a.m. in Upper Barak, Quisao, Pililla. Five passengers were taken to the Rizal Provincial Hospital in Morong, Rizal for treatment. Pililla Mayor John Masinsin told media that one passenger was declared dead at the crash site, while another was declared dead on arrival at the hospital.

MANILA, Philippines — President Ferdinand Marcos Jr. is considering asking Congress for emergency powers that would allow him to reduce excise taxes on fuel products as should the United States and Israel’s war against Iran prolong and worsen. In a media briefing on Tuesday, Marcos said that the country still has sufficient oil reserves that can last up to two months. Marcos also said that the government will also mull providing free bus rides along major routes and freezing fare hikes in transportation hubs. “It will be something that we will dispose of as soon as the crisis is over,” Marcos added. Iran is currently retaliating across the Middle East after the United States and Israel attacked the country.

Analysis - Attack on Iran could buoy Trump in talks with China's XiU.S. President Donald Trump and Chinese President Xi Jinping walk as they leave after a bilateral meeting at Gimhae International Airport, on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit, in Busan, South Korea, October 30, 2025.

Mayweather to figure in another exhibition before Pacquiao rematchFloyd Mayweather takes part in media availability prior to his June 6 fight against Logan Paul at Hard Rock Stadium on May 06, 2021 in Miami Gardens, Florida. He will then stay busy with another one, reportedly against Greek kickboxer Mike Zambidis. An ESPN.com report said Mayweather and Zambidis will lock horns in Athens, Greece this June, or three months before his scheduled rematch with Pacquiao. Mayweather and Pacquiao are penciled to fight on September 19 in Las Vegas, 11 years after their record-breaking first showdown. It’s been reported that Pacquiao himself will also take the exhibition route before facing Mayweather.

Marcos urges restraint in US-Iran warUS President Donald Trump meets with Filipino President Ferdinand Marcos Jr. in the Oval Office of the White House in Washington, DC, on July 22, 2025. US President Donald Trump voiced confidence at reaching a trade deal with the Philippines as he welcomed his counterpart Ferdinand Marcos to the White House. MANILA, Philippines — President Ferdinand Marcos Jr. urged restraint and expressed hope for a ceasefire on Tuesday, March 3, as the United States and Israel continue their broad and open-ended war on Iran and Iranian reprisals escalate and widen. Marcos was asked by reporters in a chance interview Tuesday whether he'd formally urge both sides to agree to a ceasefire. The conflict, which United States President Donald Trump suggests could last several weeks, has already seen Iran target energy infrastructure and threaten to close the Strait of Hormuz.