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First Gen Corp. has disclosed to the Philippine Stock Exchange that Indonesian company PT Barito Renewables Energy submitted an unsolicited, non-binding offer to acquire its geothermal subsidiary Energy Development Corp. for around $5 billion.

The Securities and Exchange Commission has proposed updated regulations for credit rating firms to boost transparency, credibility, and investor confidence in the Philippine corporate bond market.

The Department of Energy has completed revisions to the National Radiological Emergency Preparedness and Response Plan, strengthening the country’s ability to respond to nuclear and radiological incidents.

Batangas Rep. Gerville Reyes-Luistro, the ead prosecutor in the impeachment trial of Vice President Sara Duterte, told the Senate that it will not longer call 5 witnesses, including two journalists, in the articles covering grave threats and sedition. She said the withdrawal of witnesses was necessary since they will testify to facts already established during the testimony of previous witnesses. The Senate, acting as impeachment court, granted the prosecution's motion and welcomed it as a step toward the speedy disposition of the vice president’s trial. Presiding officer, Senator Francis Escudero, however, ordered that future withdrawals of witnesses shouldn’t be explained since the defense can’t confront the witnesses, or the manifestations of the prosecution that lead to conclusions of law.

Conglomerate San Miguel Corporation has launched a P30 billion preferred share offering, with funds set to go toward debt refinancing and key infrastructure projects including the proposed New Manila International Airport in Bulacan. The Securities and Exchange Commission gave approval for the offer the previous Tuesday. The shares will be open for subscription until July 23, with listing on the Philippine Stock Exchange scheduled for August 3.