April 21, 2022
Return to pre-pandemic growth pace seen by 2024
Philippine Star, April 21, 2022
Lawrence Agcaoili
The International Monetary Fund (IMF) expects the Philippine economy returning to its pre-pandemic growth level in 2024 after closing the output gap arising from the impact of the pandemic by next year...
Remittances seen to support recovery
BusinessWorld, April 21, 2022
L.W.T.Noble
The Philippine central bank expects remittances from overseas Filipino workers (OFWs) to continue supporting the economy’s recovery from the pandemic, and ease the burden on public finances...
Halt on WPS oil search seen to discourage investments
BusinessWorld, April 21, 2022
Kyle Aristophere T. Atienza
Economic and maritime experts on Wednesday warned that the government’s decision to halt oil exploration activities in parts of the South China Sea claimed by the Philippines would push firms to rethink their investments in the area...
‘Philippine tourism industry bounced back in 2021’
Philippine Star, April 21, 2022
Ralph Edwin Villanueva
The Philippines’ tourism and travel industry bounced back in 2021, according to the World Travel and Tourism Council (WTTC), which also forecast that the sector’s contribution to gross domestic product (GDP) will grow by almost seven percent over the next decade...
COVID-19 cases up in some Metro Manila LGUs
Philippine Daily Inquirer, April 21, 2022
Kathleen de Villa
While all areas in Metro Manila remain at minimal risk, the number of active cases in six cities and one municipality has recorded a positive growth rate during the past week, according to the Department of Health (DOH)...
Don’t wait for another surge, get booster now – Concepcion
Philippine Daily Inquirer, April 21, 2022
Roy Stephen C. Canivel
Presidential Adviser for Entrepreneurship Joey Concepcion said the country could prevent another surge in COVID-19 cases by ramping up vaccinations and “maintaining the wall of immunity,” especially among the estimated 53 million Filipinos who have yet to receive booster shots...
LTFRB clarifies window hour scheme for buses
Philippine Star, April 21, 2022
Neil Jayson Servallos
The Land Transportation Franchising and Regulatory Board (LTFRB) yesterday clarified the guidelines for provincial buses amid confusion among drivers and operators in the implementation of the window hour scheme that left commuters in a quandary...
Duterte approves IRR of the Department of Migrant Workers
GMA News, April 21, 2022
Sundy Locus
President Rodrigo Duterte has approved the proposed implementing rules and regulations (IRR) of the transition committee of the Department of Migrant Workers (DMW), its member agencies said Wednesday...
As Duterte action awaited on Vape Bill, experts paint grim scenario for PH youth
Philippine Daily Inquirer, April 20, 2022
Cristina Eloisa Baclig
(First of two parts)
Months after the proposed Vaporized Nicotine Products Regulation Act, or the Vape Bill, was passed in both the House of Representatives and the Senate, the bill remains hotly debated—more so as groups await President Rodrigo Duterte’s decision on whether to veto or sign it...
BSP, group launch agent registry in inclusion tack
BusinessMirror, April 20, 2022
Bianca Cuaresma
The Bangko Sentral ng Pilipinas (BSP) announced on Wednesday that it, together with the Alliance for Financial Inclusion (AFI), launched the Agent Registry for Cash Agents in an effort to reinforce its goal of financial inclusion and payments digitalization...
"Humachine' approach key to advancing in AI
The Manila Times, April 20, 2022
Anna Leah E. Gonzales
Enterprises are encouraged to develop the awareness and the ability to harness the power of humans and technology to survive and advance in the artificial intelligence (AI) era, a supply chain management professor from the D'Amore-Mckim School of the Business Northeastern University in Boston said on Wednesday...
Pinoy fishers among biggest losers in region, says ILO study
BusinessMirror, April 20, 2022
Samuel P. Medenilla
Filipino commercial fishermen were among the biggest losers in Southeast Asia in terms of job opportunities during the onset of the (Covid-19) pandemic, according to a new International Labour Organization (ILO) study...
Philippines has potential for 21GW wind power by 2040 — World Bank
Philippine Daily Inquirer, April 20, 2022
Reuters
The Philippines has the potential to install 21 gigawatt of offshore wind power by 2040, equivalent to about a fifth of its electricity supply by then, according to a study released by the Department of Energy and the World Bank on Wednesday...
PH, US to fortify economic alliance
The Manila Times, April 21, 2022
Anna Leah E. Gonzales
The Philippines and the United States have agreed to strengthen their economic partnership and cooperation in a meeting of the two nations' representatives in Washington, D.C...
Next admin likely to continue Duterte programs
The Manila Times, April 21, 2022
Anna Leah E. Gonzales
Singapore-based bank DBS said the next administration will likely continue the policy reforms started by the Duterte administration...
The International Monetary Fund (IMF) on Tuesday downgraded its outlook for the world economy this year and next, blaming Russia's invasion of Ukraine for disrupting global commerce, pushing up oil prices, threatening food supplies and increasing uncertainty already heightened by the coronavirus and its variants...
'Deglobalization puts world prosperity at risk'
The Manila Times, April 21, 2022
Agence France-Presse
The threat of deglobalization that splits countries into divided blocs could undermine decades of gains in living standards and growth, an International Monetary Fund (IMF) official warned on Tuesday...
'Higher food prices could push 10M into poverty'
The Manila Times, April 21, 2022
Agence France-Presse
Rising food prices that have been pushed even higher by Russia's invasion of Ukraine could force 10 million people or more into poverty, United States Treasury Secretary Janet Yellen warned on Tuesday...
Trade curbs limit production of food, energy, fertilizer–WB
BusinessMirror, April 21, 2022
Cai Ordinario
The World Bank called on countries to reduce trade barriers to encourage the production of food, energy and fertilizer to prevent millions from joining the ranks of the poor and going hungry...
Ukraine seeks Mariupol evacuation talks after surrender-or-die ultimatum expires
Philippine Daily Inquirer, April 21, 2022
Reuters
Ukraine proposed talks with Moscow over evacuating troops and civilians from Mariupol after a Russian surrender-or-die ultimatum expired on Wednesday, leaving many trapped at a steel plant, the last main stronghold of resistance...
West vows more arms, sanctions over new Russian offensive
Philippine Star, April 20, 2022
Anatoly Stepanov, Agence France-Presse
Western allies on Tuesday pledged more military supplies and sanctions to assist Ukraine as its troops battle against Russian forces intensifying their offensive in the east of the country...
US Treasury secretary and other finance ministers walk out of G20 meeting with Russia
CNN Philippines, April 21, 2022
Kevin Liptak and Sam Fossum, CNN
Finance ministers from multiple nations walked out of a closed-door G20 session in Washington on Wednesday when the Russian delegate began his prepared remarks, a show of protest against Moscow for its invasion of Ukraine...
Twitter says steps in place to protect integrity of PHL election conversations
BusinessWorld, April 21, 2022
Arjay L. Balinbin
Western allies on Tuesday pledged more military supplies and sanctions to assist Ukraine as its troops battle against Russian forces intensifying their offensive in the east of the country...
IMF, World Bank chiefs raise debt alarm as options vanish
BusinessWorld, April 20, 2022
Bloomberg
The Heads of the world’s biggest international finance institutions sounded the alarm about record global debt levels, with the International Monetary Fund’s (IMF) chief saying options to deal with the billions owed by poor nations are disappearing...
Hong Kong actress apologizes for ‘brown face’ role depicting Pinay DH
BusinessMirror, April 21, 2022
Malou Talosig-Bartolome
Hong Kong-based actress Franchesca Wong Yuen-wah who played the lead in a television drama “Barrack O’Kama 2” has apologized for darkening her skin to portray the role of a Filipino domestic helper...
IMF asks cash-strapped Sri Lanka to ‘restructure’ foreign debt before finalization of bailout program
Manila Standard, April 20, 2022
Agence France-Presse
The International Monetary Fund said on Wednesday that it has asked cash-strapped Sri Lanka to “restructure” its huge foreign debt before a bailout program could be finalized as anti-government protests escalated across the island...
Sri Lanka’s economic crisis exposes gaps in renewable energy push
Rappler, April 20, 2022
Reuters
It is hard to know how much Sri Lankan forest has been cut down as fuel shortages force people to use firewood to cook: inspectors have halted deforestation patrols because they cannot fill up their vehicles...
Shanghai cautiously eases COVID lockdown as deaths rise
ABS-CBN News, April 20, 2022
Agence France-Presse
Shanghai further eased its grueling, weeks-long COVID-19 lockdown on Wednesday despite a mounting official death toll and tens of thousands of daily cases...
Surprised astronomers find new type of star explosion: a micronova
GMA News, April 20, 2022
Will Dunham, Reuters
Astronomers have detected a previously unknown type of stellar explosion called a micronova involving thermonuclear blasts at the polar regions of a type of burned-out star called a white dwarf after it has siphoned material from a companion star...
Russia tests nuclear-capable ballistic missile that Putin says has no peer
GMA News, April 20, 2022
Russia said on Wednesday it had test-launched its Sarmat intercontinental ballistic missile, a new addition to its nuclear arsenal which President Vladimir Putin said would give Moscow's enemies something to think about...
Comelec dismisses last petition vs Marcos run
Philippine Daily Inquirer, April 21, 2022
Dona Z. Pazzibugan
Ferdinand Marcos Jr. could not be faulted for not fully paying his taxes and not filing his income tax returns on time, thus leaving no ground to disqualify him from running for president, so ruled a division of the Commission on Elections (Comelec) in dismissing a petition to block his candidacy on Wednesday...
PNP ready to thwart plots to destabilize elections
Philippine Star, April 21, 2022
Emmanuel Tupas
The Philippine National Police (PNP) has put security measures in place to thwart any attempt to sabotage the May 9 elections...
Get boosted before jabs expire – Concepcion
The Manila Times, April 21, 2022
Kristina Maralit
More than the possible surge in Covid-19 cases, Presidential Adviser for Entrepreneurship Jose Ma. "Joey" Concepcion 3rd is worried about the low number of booster shots administered to eligible recipients...
Surveys snapshots of voters' preference
The Manila Times, April 21, 2022
Kaithreen Cruz
OCTA Research senior fellow Dr. Guido David said on Wednesday that pre-election surveys were just snapshots of voters' preference, hence they should not be treated as a representation of the general public's liking...
Study: Poll-linked violence may build up
Manila Standard, April 21, 2022
Maricel Cruz and Macon Ramos-Araneta
Poll-related violence builds up significantly about 100 days before the polls open and reaches its peak on Election Day, a study by the Ateneo School of Government shows with 20 days left before the May 9 polls...
’Voters less likely to shift choice of bets by this time’
Manila Standard, April 21, 2022
Joel E. Zurbano
With less than three weeks to go before the May 9 elections, there is a low possibility of voters switching preference at this point, the chief data scientist of PUBLiCUS Asia said...
Government adviser sees PH losing P40 billion with expiring vaccines
Manila Standard, April 21, 2022
Othel V. Campos and Willie Casas
An economic advisor to the government on Wednesday said expiring COVID-19 vaccines would result in a loss of P40 billion for the country and urged citizens to get their booster shots to fend off a possible surge in new infections...
Health protocols breached during holiday—DOH
Manila Standard, April 21, 2022
Willie Casas
The public breached the minimum health standards during the Holy Week, the Department of Health (DOH) has said, underlining that videos surfaced on social media showing overcrowded beaches and venues where people can be seen partying without masks...
DOST to address Pinoys’ most common ailments
Philippine Star, April 21, 2022
Rainier Allan Ronda
The Department of Science and Technology (DOST) wants to lead an evidence-based campaign to address cardiovascular diseases, stroke and heart attack among Filipinos...
Comelec allows aid to farmers, fishers
Philippine Daily Inquirer, April 21, 2022
Jeannette I. Andrade
The Commission on Elections (Comelec) has exempted from the election spending ban the Department of Agriculture’s (DA) subsidy programs for farmers and fisherfolk...
BARMM religious leader issues fatwa to urge people to get vaccinated during Ramadan
Rappler, April 20, 2022
Rommel Rebollido
The highest-ranking Muslim religious leader recognized in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) by the regional government issued a fatwa to make more Muslims there get COVID-19 vaccinations during Ramadan...
Last 2 Comelec debates to focus on economic infrastructure reforms, labor
BusinessMirror, April 20, 2022
Samuel P. Medenilla
Economic infrastructure reforms and labor policies will be among the topics to be tackled by national candidates in the last two remaining debates to be organized by the Commission on Elections this weekend...
DILG slams FB for flagging NSC chief’s post on national security
BusinessMirror, April 20, 2022
Jonathan L. Mayuga
The Department of the Interior and Local Government (DILG) on Wednesday took the cudgels for National Security Council Director-General Secretary Hermogenes Esperon Jr. and denounced social-media platform Facebook (FB) for its warning issued to the country’s top national security official...
BIR tax amnesty schemes get nearly P14B from 85K availers
BusinessMirror, April 20, 2022
Bernadette D. Nicolas
The Bureau of Internal Revenue (BIR) collected nearly P14 billion from implementing amnesty programs on tax on delinquencies and unsettled estate taxes...
PH remains at ‘minimal risk’ for Covid-19, but public warned against complacency
Manila Bulletin, April 20, 2022
Analou de Vera
The Department of Health (DOH) said that the Philippines remains under “minimal risk” case classification for Covid-19, but reminded Filipinos not to be complacent amid the possibility of a spike in cases in May if the decline in the compliance to health protocols continues...
Oil imports double in 2021
Philippine Star, April 21, 2022
Danessa Rivera
The Philippine’s net oil imports rebounded last year, nearly double the 2020 bill to reach pre-pandemic levels on fuel demand recovery and high crude prices...
Stocks advance for 4th straight trading session
Philippine Star, April 21, 2022
Iris Gonzales
Stocks extended their advance for the fourth consecutive session yesterday, buoyed by overnight gains on Wall Street and better growth prospects for the local economy...
DTI courts investors in RE projects, data centers
BusinessMirror, April 20, 2022
Andrea San Juan
The Department of Trade and Industry is pursuing investors that would build data centers and renewable energy projects in the Philippines...
Infrastructure damage due to Agaton hits P1.45 billion —DPWH
GMA News, April 21, 2022
Mel Matthew Doctor
The partial cost of damage to public infrastructure brought by tropical storm Agaton has reached P1.45 billion, the Department of Public Works and Highways (DPWH) reported on Wednesday...
Philippines has potential for 21 GW of offshore wind by 2040
BusinessWorld, April 21, 2022
R.C.S.Agustin with Reuters
The Philippines has the potential to install up to 21 gigawatts (GW) of offshore wind power by 2040 to meet the country’s growing demand, a study by the Department of Energy (DoE) and the World Bank (WB) showed...
IMF prognosis sends PSEi swinging above 7,100
Philippine Daily Inquirer, April 21, 2022
Miguel R. Camus
Shares were mostly higher on Wednesday as the benchmark index rose over 100 points after the International Monetary Fund (IMF) improved its growth outlook for the Philippines despite the threat of higher consumer prices...
Sans power plant, renewable energy REIT looks to leasing for growth
Philippine Daily Inquirer, April 21, 2022
Miguel R. Camus
Citicore Energy REIT Corp. is preparing to transition to “more guaranteed” land lease earnings after more than doubling profit last year from energy sales. The country’s first renewable-energy themed real estate investment trust (REIT) saw profits surge about 117 percent to P226 million in 2021 as revenues jumped over 30 percent to P352.29 million...
Infrastructure spending likely picked up in March
BusinessWorld, April 21, 2022
Tobias Jared Tomas
Infrastructure spending likely picked up pace in March, as agencies sought to fast-track projects before the end of the first quarter and ahead of the election ban on public works, analysts said...
Fuel surcharge level to remain unchanged in May
BusinessWorld, April 21, 2022
Arjay L. Balinbin
Airfares are not expected to increase further in May, according the Civil Aeronautics Board (CAB), as it reviews guidelines for imposing passenger fuel surcharges...
PEZA asks gov’t to lift freeze on economic zones in NCR
BusinessWorld, April 20, 2022
Revin Mikhael D. Ochave
The moratorium on new economic zones (ecozones) in the National Capital Region (NCR) needs to be lifted to better align policy with the provisions of the tax reform program, according to the Philippine Economic Zone Authority (PEZA)...
Manila Water setting up international expansion
Philippine Daily Inquirer, April 21, 2022
Jordeene B. Lagare
Water concessionaire Manila Water Co. Inc. is looking at marking more territories abroad to further expand its international footprint, building on the Razon Group’s global reach to scale up the business...
PH travel, tourism sectors seen to expand 6.7% yearly
Manila Standard, April 20, 2022
Othel V. Campos
The Philippine travel and tourism sectors will post an average annual growth of 6.7 percent over the next 10 years, exceeding the expected gross domestic product growth rate of 5.6 percent, the World Travel and Tourism Council said Wednesday...
Low booster rate seen endangering recovery as immunity wanes
BusinessWorld, April 20, 2022
Revin Mikhael D. Ochave
The slow rollout of booster shots is putting the economic recovery at risk, particularly for micro, small, and medium-sized enterprises (MSMEs), with the threat expected to be elevated when the protection provided by the first two vaccine doses starts to recede later this year, Presidential Adviser for Entrepreneurship Jose Ma. A. Concepcion III said at a Laging Handa briefing on Wednesday...
PEZA fires off ecozone buildout
Daily Tribune, April 21, 2022
TDT
Investment promoter Philippine Economic Zone Authority (PEZA) partnered with various government agencies to hasten human capital and infrastructure development to further support and promote balanced social, industrial and economic development, especially in the rural area as provided under Administrative Order (AO) 18...
Business taxpayers increase 5% to 4.6m
Manila Standard, April 20, 2022
Alena Mae S. Flores
The Bureau of Internal Revenue on Wednesday registered a 5.1-percent increase in the number of registered business taxpayers to 4.63 million in 2021 from 4.41 million registered businesses in 2020...
New entrepreneurs rise amid pandemic—BIR
Manila Bulletin, April 20, 2022
Chino S. Leyco
Filipinos are getting entrepreneurial as the Bureau of the Internal Revenue (BIR) reported an increase in the number of new businesses last year despite the prolonged pandemic, the Department of Finance (DOF) said...