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The Department of Environment and Natural Resources (DENR) has assured the public that a coordinated response is underway following the collapse of a containment lagoon at Universal Robina Corp.’s (URC) Bais Distillery in Negros Oriental, which released molasses wastewater into Bais Bay within the Tañon Strait Protected Seascape.

The local currency the peso briefly sank to a record low this week, reflecting sustained weakness in the local currency as the Bangko Sentral ng Pilipinas (BSP) maintains a growth-focused stance. The peso fell to ₱59.13 per U.S. dollar on Tuesday before rebounding to ₱58.72 on Wednesday—its strongest in three months—after remarks from BSP Governor Eli Remolona tempered market concerns.

The Philippine Competition Commission (PCC) has approved Raslag Corp.’s joint venture with Singapore-based Verdant Philippines Alpha Pte. Ltd. for a renewable energy project in Mindoro.

The Asian Development Bank (ADB) confirmed it is in discussions with the Philippine government for a possible loan to enhance the country’s power transmission network.

Home Credit Philippines has teamed up with Puregold Price Club Inc. to launch the Aling Puring Credit Card, its first branded credit card designed for small business owners.