Corporate

AllHome Corp., the retail and wholesale arm of the Villar Group, reported a steep decline in profit for the first half of the year, citing soft demand for construction and furnishing products amid a sluggish real estate market.

Federal Reserve Chair Jerome Powell signaled Friday that the U.S. central bank may cut interest rates at its next policy meeting in September, citing growing risks to the labor market and ongoing inflation pressures.

Agriculture Secretary Francisco P. Tiu Laurel Jr. has instructed the Rice Industry Development Office (RIDO), led by Undersecretary Christopher Morales, to closely examine the apparent shift in Filipino rice preferences, as demand for imported rice—particularly Vietnamese varieties—continues to grow.