Union Bank of the Philippines (UnionBank) reported first-half 2026 net income of ₱6.9 billion, up 113% year on year, with net revenues rising 9% to ₱43.1 billion. Net interest margin improved to 6.9%, while credit cards and personal loans helped drive an 18% increase in consumer lending. Improving asset quality lowered credit costs by 19%.

The Philippines’ Malampaya deepwater gas project restored supply on July 15 after completing a monthlong maintenance and upgrade program. The work lays the groundwork for the Phase 4 expansion, which will add the Malampaya East-1 and Camago-3 production wells and targets first gas in the fourth quarter of 2026. The project supplies fuel for about 20% of Luzon’s power generation and is the country’s core domestic gas source. During the shutdown, Malampaya provided emergency supply to help stabilize the grid after Typhoon “Inday” disrupted nearby imported LNG terminals.

Semirara Mining & Power Corp., the Philippines’ largest coal producer, has filed a petition in a Makati court to block the Department of Energy from disclosing its proprietary geological studies and a detailed inventory of equipment to prospective bidders. The company says the information and technical assets tied to its Semirara Island operations are protected under its existing contract, as the government prepares to auction ten coal blocks before the contract expires in July 2027. Semirara warned that the Acacia mine relies on continuous pumping to prevent flooding, and that a shutdown could render the mine inoperable and potentially wipe out roughly half of the island’s recoverable coal reserves. The company said the court action will not affect day-to-day operations.

Data from the Association of Asia Pacific Airlines (AAPA) show Asia-Pacific carriers posted net profit of $12.1 billion in 2025, but intensified geopolitical conflict in 2026 has driven jet fuel prices sharply higher. Jet fuel briefly climbed above $200 per barrel in April and was still at $127.06 per barrel on July 10, up 43% from last year’s average. Philippine Airlines (PAL) saw first-quarter net income decline, while Cebu Pacific swung to a loss, reflecting mounting cost pressure. Higher fuel costs are lifting airlines’ operating expenses, weighing on airline stocks and supporting crude prices.

Globe Telecom has secured a ₱10 billion loan from state-run Land Bank of the Philippines (Landbank) to support its 5G network expansion, debt refinancing and general corporate purposes. The company kept its full-year capital expenditure guidance at below $1 billion. First-quarter capex rose more than 50% year on year to ₱12.7 billion, with over 91% allocated to data-related upgrades. Net income fell 20% to ₱5.55 billion even as revenue increased 4% to ₱45.71 billion, led by mobile data services.

The Asian Development Bank lowered its 2026 GDP growth forecast for the Philippines to 3.8% from 4.4% in its July 2026 Asian Development Outlook. It also raised its 2026 inflation projection to 5.9% from 4.0%, marking the biggest upward revision among developing Southeast Asian economies. The bank cited delayed investments, softer private consumption amid higher commodity prices, and climate-related risks, alongside higher global energy prices linked to the Middle East conflict.