Source BusinessWorld

The Philippine economy needs to grow above six percent annually in the next five to six years to reduce the country’s debt, Finance Secretary Carlos G. Dominguez III said on Thursday...

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The Philippines’ trade deficit further widened to a three-year high in 2021 as imports continued to outpace exports amid a coronavirus pandemic, latest data from the Philippine Statistics Authority (PSA) showed...

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The Philippines may need to buckle up as the Ukraine-Russia crisis could take longer than expected and more needs to be done to cushion the impact of the war on various countries, according to the Department of Finance (DOF)...

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The Philippines is among emerging markets likely to suffer the most from expensive oil, according to United Kingdom-based think tank Oxford Economics...

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The government will be unable to vaccinate 90 million individuals before President Duterte steps down, so it is lowering this target to 77 million-80 million by the end of June, according to Secretary Carlito Galvez Jr., the head of the national vaccination program...

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The Department of Tourism on Thursday expressed commitment to support the global climate change mitigation efforts by promoting green tourism, among others...

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Sen. Sherwin Gatchalian made a strong plea with the Department of Finance on Thursday to “find a way” of restoring the teachers’ allowances for poll duty in full, saying the revenue loss from their exemption from taxes could be remedied by the government while giving the teachers a huge relief...

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The Metropolitan Manila Development Authority (MMDA) clarified on Wednesday the issue of the “window period” for provincial buses to enter Metro Manila, particularly Edsa, which inconvenienced thousands of commuters who had to wait for hours for the provincial buses to ply their routes...

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Provincial buses are still allowed to ply their routes going in and out of Metro Manila beyond the so-called window hours scheme by the Metropolitan Manila Development Authority (MMDA) so long as they end their trips at designated terminals, MMDA chair Romando Artes clarified on Thursday...

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The Department of Agriculture (DA) is tightening protocols of the issuance of sanitary and phytosanitary import clearances (SPS-ICs) to restrict the importation of palm oil amid the still ongoing investigation on smuggling of the commodity as animal feed...

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The Department of Finance (DOF) on Thursday objected to the proposed tax exemption of election honoraria and allowances, citing concerns that it may trigger a “clamor” for more exemptions for similar benefits given for other rendered services...

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The Fiscal Incentives Review Board (FIRB) would look into streamlining and rationalizing the large fees collected by investment promotion agencies (IPAs) from its licensed Philippine Offshore Gaming Operators (POGOs)...

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Dominant telecommunication players have vowed to continue working with the government on the recently vetoed SIM (subscriber identity module) card registration bill as they push for better online consumer protection...

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Finance Secretary Carlos Dominguez III has ordered incentives-granting ecozones hosting Philippine offshore gaming operators (Pogos) to harmonize and streamline the fees charged from such operations...

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The Fiscal Incentives Review Board (FIRB) said investment promotion agencies (IPAs) need to harmonize the fees for locators from the Philippine Offshore Gaming Operator (POGO) industry, after finding wide disparities in the charges collected by various economic zones...

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The online precinct finder of the Commission on Elections (Comelec) will be activated by the Department of Information and Communications Technology (DICT) today, an official of the poll body said on Thursday...

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An oral maintenance drug that targets cancer-causing gene mutations has recently been approved by the Food and Drug Administration (FDA)...

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Central Park, New York City’s 843-acre green lung created in 1858, is now a climate change laboratory that researchers hope will help parks nationwide become more resilient...

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The Philippines is watching the pace of the Federal Reserve’s monetary policy normalization as it weighs the timing of its own interest-rate move, according to the nation’s finance chief and a central bank rate-setter...

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‘Get vaxxed, get traveling.” This is the position of the World Travel and Tourism Council (WTTC), as its President and CEO Julia Simpson, unveiled on Thursday the body’s latest Economic Impact Report (EIR), which forecast global travel and tourism to grow by an average of 5.8 percent per annum in the next decade...

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The COVID-19 pandemic has spawned a new breed of retail investors, of whom many are from emerging markets, relatively younger but with less money at their disposal, transacting remotely and keen on digital assets...

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Chinese Ambassador to the Philippines Huang Xilian extolled the productive relationship between China and the Philippines in the past six years during an event organized by the Federation of Filipino Chinese Chambers Of Commerce and Industry Inc...

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Army Commanding General Lt. Gen. Romeo Brawner Jr. met with Australian Ambassador to the Philippines Steven J. Robinson AO as ground forces from both countries ramp up preparations for the conduct of two joint military exercises...

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The Russia-Ukraine war may drive food prices even higher in Asian countries, including the Philippines, according to MUFG Global Markets Research...

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Rising interest rates are squeezing the world's poorest countries as they struggle with the coronavirus and soaring food prices, the heads of the International Monetary Fund (IMF) and the World Bank warned on Wednesday (Thursday in Manila)...

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Oil prices bounced back on Thursday after a day of losses on demand concerns linked to China's Covid-19 lockdowns as markets in Hong Kong and Shanghai fell sharply...

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A barrage of shocks is building that’s unlike anything emerging markets have had to confront since the 1990s, when a series of rolling crises sank economies and toppled governments...

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The Philippines just won back what it lost to China in June 2009 after United States-based logistics company FedEx said it will revive its Asian transhipment hub in a facility in Clark Freeport Zone...

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Ukrainian President Volodymyr Zelenskiy on Thursday said Russia had rejected a proposal for a truce over the Orthodox Christian Easter period this weekend but added he still harbored hopes for peace...

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President Joe Biden announced on Thursday the United States will ban Russian-affiliated ships from American ports, joining Canada and European nations in the latest step to pressure Russia over its invasion of Ukraine...

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The United States will provide an additional $500 million in financial assistance to Ukraine to help it sustain salaries, pensions and other government programs, a Treasury official said, while the beleaguered country fends off Russia's invasion...

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U.S. Defense Secretary Lloyd Austin will host Ukraine-focused defense talks with allies at Ramstein Air Base in Germany on April 26, the Pentagon said on Thursday...

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Ukraine needs $7 billion in month to keep its economy afloat amid the "economic losses" inflicted by Russia, President Volodymyr Zelensky said Thursday, as the United States announced another infusion of financial aid for the country...

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Russia’s central bank will consider cutting its key interest rate further at upcoming board meetings, Governor Elvira Nabiullina said on Thursday, April 21, flagging economic challenges the country faces as it tries to blunt the impact of Western sanctions over Ukraine...

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Palestinian militants fired volleys of rockets from Gaza into Israel, which responded with air strikes in the early hours of Thursday in the biggest escalation since an 11-day war last year...

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The World Health Organization said Friday it "strongly recommended" Pfizer's Covid-19 antiviral pill Paxlovid for patients with milder forms of the disease who were still at a high risk of hospitalization...

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Scientists have successfully bred a threatened species of coral as part of a project that hopes to restore damaged reefs off the coast of Florida that are under threat by a relatively new disease, a coral rescue organization said on Thursday...

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East Timor's President-elect Jose Ramos-Horta said Thursday he expects his country to join the Association of Southeast Asian Nations in 2023 when Indonesia chairs the 10-member bloc...

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The state weather bureau on Thursday released images of three large sunspot groups it took on Thursday, as the sun was entering the “solar maximum” phase of its current solar cycle...

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East Timor's President-elect Jose Ramos-Horta said Thursday he expects his country to join the Association of Southeast Asian Nations in 2023 when Indonesia chairs the 10-member bloc...

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Despite the devastation caused by tropical storm “Agaton” (international code name Megi) in some parts of the country, the Commission on Elections said its preparations for the 2022 polls are still on track...

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The Department of Agriculture (DA) is investigating the purported illegal entry of palm oil into the country, including its officials and staff who are allegedly in cahoots with smugglers of agricultural produce...

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Hundreds of commuters were left without rides amid the confusion over the "window hour" bus scheme being implemented by the Metropolitan Manila Development Authority (MMDA)...

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College students, who have no jobs, will be able to avail themselves of Philippine Health Insurance Corporation (PhilHealth) benefits for free...

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More than half, or 60 percent, of patients recently admitted for COVID-19 at the Philippine General Hospital (PGH), the country’s main referral hospital for the severe respiratory disease, were unvaccinated...

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The chairman of the country's vaccine expert panel (VEP) believes approval for a second booster shot for healthy individuals will be a long time coming...

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Around 600,000 Department of Education (DepEd) personnel will render services during the 2022 elections, a department official said during a Senate hearing...

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The next administration in the Philippines, should it be led by either Ferdinand Marcos Jr. or Vice President Leni Robredo, is expected to continue key Duterte policies including what is supposedly an aggressive infrastructure program...

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Commission on Elections (Comelec) officials are expecting a bigger overseas voter turnout than in previous elections regardless of all the controversy and “fake news” hounding the voting system...

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Using metal straws and eco-conscious search engine, reducing food waste, and shopping sustainably are worthwhile actions, climate activists said, but they stressed that these can only do so much to make our planet livable...

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Using a different vaccine brand as a second booster shot will be “more effective” in fighting COVID-19, according to the Department of Health (DOH)...

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At least 372,878 ballots for the May 9 elections were found defective and are subject for reprinting, the Commission on Elections (Comelec) said Thursday...

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The Metropolitan Manila Development Authority (MMDA) on Thursday warned it would continue apprehending provincial buses entering Metro Manila without the required QR codes issued by the Land Transportation Franchising and Regulatory Board (LTFRB)...

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Labor Secretary Silvestre Bello III has directed all officials and personnel of the Philippine Overseas Employment Administration (POEA) to maintain the status quo in the discharge of their duties and responsibilities...

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The government will be prioritizing the financing of mature technologies under the Philippine Innovation Fund this year and the next, according to the National Economic and Development Authority (Neda)...

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The country’s vaccine expert panel (VEP) has recommended the administration of the first booster dose against COVID-19 for children ages 12 to 17 years old as face-to-face classes start soon...

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The Duterte administration will continue to push for genuine land reform and address long-standing concerns of farmers and indigenous peoples, acting presidential spokesman Martin Andanar said...

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The Department of the Interior and Local Government (DILG) on Thursday warned local governments with authority over Boracay to ensure the enforcement of the capacity limit set for the popular tourist destination...

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The Civil Service Commission (CSC) will push through with the civil service examinations, which were postponed last year at the height of the COVID-19 pandemic...

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The staffing pattern of the newly created Department of Migrant Workers must be done by June, said an official of an agency that will be merged under it...

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Department of Migrant Workers (DMW) Secretary Abdullah Mama-o said the confusion over the approval of the agency's implementing rules and regulations (IRR) was due to some members of the transition committee refusing to attend meetings...

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The last stretch of the debates organized by the Commission on Elections (Comelec) may face cancellation if the poll body's sponsor Impact Hub Manila fails to settle its unpaid dues to Sofitel Philippine Plaza Manila worth ₱14 million...

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The private sector has laid down proposals to alleviate possible power shortages in the next 30 days up to the next decade, including expanding the ILP coverage, energy efficiency measures, and contracting by NGCP of additional reserve power and linking with still-unconnected power plants...

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Fast-moving consumer goods (FMCG) industry players must take note of Filipinos’ new shopping habits to accelerate their plans for recovery, according to data and consulting firm Kantar...

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The Philippines imported 262.9 million kilograms of meat products in the first three months of 2022, 24.5 percent more than the 211.2 million kg brought into the country in the same period last year...

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Power transmission operator National Grid Corp. of the Philippines (NGCP) is allocating P160 billion for capital expenditures until 2025 mostly for projects that will ensure the stability of electricity supply throughout the country...

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Mobility restrictions may have eased with the decline in COVID-19 cases, but many consumers still opt to buy their daily necessities from a nearby “sari-sari” store rather than go to big supermarkets, according to data analytics firm Kantar Philippines...

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Measures that will alleviate the projected power shortages that might affect this year's election should be put in place, the Management Association of the Philippines (MAP) said on Thursday...

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Damage to the country’s agriculture sector caused by Typhoon “Agaton” (international code name Megi) has climbed to P2.8 billion, affecting 31,645 hectares of agricultural areas, the Department of Agriculture (DA) said Thursday...

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The number of consumers in the Philippines that are accessing piracy sites for movies has grown to 61 percent from only 49 percent, according to a study...

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