April 6, 2022
World Bank trims Philippine growth outlook for 2022 on Ukraine war
BusinessWorld, April 6, 2022
Tobias Jared Tomas
The World Bank trimmed its growth forecast for the Philippines to 5.7% in 2022 due to the impact of the war in Ukraine, warning that growth could further slow to 4.9% if conditions worsen...
Budget gap seen to narrow this year as economy recovers ‘strongly’
BusinessWorld, April 6, 2022
Tobias Jared Tomas
The budget deficit is expected to start narrowing this year, with borrowings likely to decline and revenues seen to rise as the economy rebounds from the coronavirus pandemic, Finance Secretary Carlos G. Dominguez III said at the Philippine Economic Briefing on Tuesday...
Pandemic sets back PHL’s targets to wipe out poverty
BusinessMirror, April 6, 2022
Cai Ordinario
The goal of eradicating both subsistence and income poverty may not be achieved due to the extent of the pandemic’s impact on the economy, according to the National Economic and Development Authority (Neda)...
ADB: PH economy to grow at 6% this year, 6.3% in 2023 but risks still loom
CNN Philippines, April 6, 2022
Pilar Manuel
The Asian Development Bank (ADB) said it expects the Philippine economy to grow by at least 6% until next year, but added there are risks posed by ongoing geopolitical tensions...
Ready for XE? PH closely watching new COVID-19 variant
Philippine Daily Inquirer, April 6, 2022
Kathleen de Villa
The Philippines is deemed “ready” should the more infectious recombinant variant of COVID-19 dubbed “XE” enter the country as the threat of a new coronavirus mutation looms...
Headline inflation rises to 4 percent in March
The Manila Times, April 6, 2022
Mayvelin U. Caraballo
The Philippine Statistics Authority (PSA) announced on Tuesday that the country's headline inflation rate rose to 4 percent in March, the highest in six months, mainly from rising food inflation, particularly meat and fish...
On the table: P250 pay hike
Manila Standard, April 6, 2022
Vito Barcelo
The Regional Tripartite Wages and Productivity Board (RTWPB) has given due course to the P250 petitions for the increase in daily pay of minimum wage workers in the National Capital Region filed by three labor groups...
Dominguez: Fear of food shortage driving up prices
Manila Standard, April 6, 2022
Maricel Cruz
Finance Secretary Carlos Dominguez downplayed fears of food and oil shortages amid the ongoing conflict between Russia and Ukraine as Malacañang said it would redouble efforts to tame the rapid increase in consumer prices with headline inflation rising to 4 percent in March...
DoLE chief pushes P5K wage subsidy
The Manila Times, April 6, 2022
William Depasupil
Labor Secretary Silvestre Bello 3rd has proposed a P5,000-wage subsidy for workers in small enterprises...
DOH: 66.2 million now fully vaccinated vs Covid-19
Manila Bulletin, April 5, 2022
Jel Santos
At least 66.2 million individuals have been fully inoculated against Covid-19 in the country, the Department of Health announced on Tuesday, April 5...
Pay raise may have to wait until after May 1, Labor Day
BusinessMirror, April 5, 2022
Samuel P. Medenilla
This after the Regional Tripartite Wages and Productivity Board (RTWPB-NCR) Chairman Sarah B. Mirasol said their deadline to act on the four pending wage petitions from labor groups will be on May 5, 2022...
PRRD thanks China for bridge, lists desired agenda before talks with Xi
BusinessMirror, April 6, 2022
Samuel P. Medenilla
Days before his scheduled talk with Chinese President Xi Jinping, President Duterte said he wants to tackle the matter of Chinese ships in the Spratlys, as he addressed Chinese Ambassador to the Philippines Huang Xilian at a public event on Tuesday...
Locsin, Lorenzana off to Tokyo for 2-plus-2
BusinessMirror, April 6, 2022
Malou Talosig-Bartolome
Foreign Affairs Secretary Teodoro Locsin Jr. and Defense Minister Delfin Lorenzana are flying to Tokyo this weekend to meet their Japanese counterparts, Foreign Minister Yoshimasa Hayashi and Defense Minister Nobuo Kishi, for their first 2-plus-2 meeting...
PHL banks’ ratings to see ‘medium impact’ from Russia-Ukraine war
BusinessWorld, April 6, 2022
Luz Wendy T. Noble
Philippine banks' credit ratings may see “medium impact” from the war in Ukraine as they already have a negative outlook, Fitch Ratings said...
Indian envoy sees continued strong ties post-Philippine election
BusinessWorld, April 5, 2022
Alyssa Nicole O. Tan
Relations between India and the Philippines is expected to remain strong even after a change in leadership following the May elections, said the Indian Ambassador to Manila, but broadening ties will depend on the new administration’s governance and foreign policies...
PH to donate Covid-19 vaccines to Myanmar, Papua New Guinea
Manila Bulletin, April 6, 2022
Jel Santos
The Department of Health (DOH) on Tuesday, April 5, said the Philippines will be donating Covid-19 vaccines to Myanmar and Papua New Guinea soon...
‘Chinese ship observed Philippines-US sea exercise’
Philippine Star, April 6, 2022
Michael Punongbayan, Alexis Romero
Defense Secretary Delfin Lorenzana said the Chinese naval vessel that illegally entered Philippine waters without permission from Jan. 29 to Feb. 1 this year was observing a joint exercise by the Philippine and United States navies in the Sulu Sea...
Rody: PH, China no quarrel amid issues
The Manila Times, April 6, 2022
Maricel Cruz and Rey E. Requejo
Days before his online bilateral meeting with Chinese President Xi Jinping, President Rodrigo Duterte on Tuesday said Manila and Beijing “do not have any quarrel” despite fresh incursions in the West Philippine Sea...
ADB: Developing Asia must improve taxation as finances took a hit from COVID-19
CNN Philippines, April 6, 2022
Pilar Manuel
Opportunities await developing Asian economies to strengthen taxation to generate more revenues as they deal with fiscal downturn caused by the COVID-19 pandemic, according to a recent Asian Development Bank report...
Oil prices rise as more Russia sanctions eyed
The Manila Times, April 6, 2022
Agence France-Presse
Oil prices jumped further on Tuesday as the European Union considered slapping more sanctions against major crude producer Russia in response to killings in the Ukrainian town of Bucha that have prompted international condemnation...
99% of world population breathing polluted air
The Manila Times, April 6, 2022
Agence France-Presse
A full 99 percent of people on Earth breathe air containing too many pollutants, the World Health Organization (WHO) said Monday (Tuesday in Manila), blaming poor air quality for millions of deaths each year...
Ukraine demands accountability for Russian ‘war crimes’ as West prepares sanctions
Philippine Daily Inquirer, April 6, 2022
Reuters
Ukrainian President Volodomyr Zelenskiy told the United Nations Security Council on Tuesday that Russia must be held accountable for what he and many Western leaders have called war crimes, as the United States and its allies prepared to expand sanctions...
Cybercriminals take aim at digital payments
The Manila Times, April 6, 2022
Eireene Jairee Gomez
Social engineering scams are the top encountered threat on digital payment methods in the countries in Southeast Asia, a recent Kaspersky research showed...
Global groups propose pandemic plan at a cost of $10 billion a year
Philippine Daily Inquirer, April 5, 2022
Reuters
Four organizations focused on global health and the economy said it will take $15 billion in grants this year and another $10 billion annually after that to establish and maintain an adequate toolkit to respond to COVID-19 and address future pandemic threats...
Protection against infection offered by fourth Covid-19 vaccine dose wanes quickly, Israeli study finds
CNN Philippines, April 6, 2022
Jen Christensen, CNN
A fourth dose of the Pfizer/BioNTech Covid-19 vaccine seems to offer short-lived protection against infection overall, but protection against severe illness did not wane for at least several weeks, according to a new study...
Pfizer to supply UNICEF up to 4M COVID-19 oral treatment for low- and middle-income countries
Manila Standard, April 5, 2022
Pfizer Inc. has signed an agreement with UNICEF to supply up to 4 million treatment courses of its COVID-19 oral treatment, Paxlovid, to 95 low- and middle-income countries, pending authorization or approval...
Canada needs 1 million workers over next 5 years
Philippine Star, April 6, 2022
Rudy Santos
Canada needs about a million workers in the next five years to compensate a serious labor shortage as birth rates have fallen and more Canadian youth move to big cities for high-paying jobs in the financial, communication and service jobs and skilled manpower for other sectors in the economy has decreased in the last decades...
42 previously unknown genes discovered for Alzheimer's disease
CNN Philippines, April 6, 2022
Sandee LaMotte, CNN
An additional 42 genes connected to the development of Alzheimer's disease have been uncovered in the largest study of genetic risk for Alzheimer's to date...
There is no 'magic moment' to lift COVID-19 restrictions, researchers say
CNN Philippines, April 6, 2022
Tasnim Ahmed, CNN
Pandemic hospitalization rates are at new lows, the vast majority of US counties have low community levels of the coronavirus, and as of March 25, all 50 states have lifted mask requirements...
Note to LGUs: Is that still ‘ayuda’ or vote-buying?
Philippine Daily Inquirer, April 6, 2022
Dexter Cabalza and Dona Z. Pazzibugan
Local government unit (LGU) officials must first get permission from the Commission on Elections (Comelec) before distributing any form of “ayuda,” or financial aid to their constituents, during the campaign period, or they might be accused of electioneering and disqualified from holding public office, according to the Department of the Interior and Local Government...
DOF chief: Govt can fund UCT to poorest 50% up to 6 months
BusinessMirror, April 5, 2022
Bernadette D. Nicolas
The government has allocated P41.4 billion to finance the additional unconditional cash transfers (UCT) to the poorest 50 percent of the population for six months to cushion the impact of rising oil prices, Finance Secretary Carlos G. Dominguez III revealed on Tuesday...
Exempt LTFRB from public spending ban, Comelec urged
Philippine Daily Inquirer, April 6, 2022
John Eric Mendoza
The Land Transportation and Franchising Regulatory Board (LTFRB) should be exempted from the ban on public spending during elections so that it could finish the distribution of fuel subsidies to public utility drivers...
Metro Manila wage board to hold hearing on hike appeals
Philippine Daily Inquirer, April 6, 2022
John Eric Mendoza
The Metro Manila wage board will conduct a public hearing on the wage hike petitions filed by different groups amid soaring prices of basic goods...
Duterte: Alert Level 1 stays until 'everything is really alright'
CNN Philippines, April 6, 2022
CNN Philippines Staff
President Rodrigo Duterte has rejected calls to further downgrade the country’s COVID-19 alert level. During his taped Cabinet meeting aired Tuesday night, the President said Alert Level 1 should remain...
Jobs, income concerns persist as more OFWs return to PH for good
Philippine Daily Inquirer, April 5, 2022
Cristina Eloisa Baclig
As the number of repatriated Overseas Filipino Workers (OFWs) continued to increase, concerns grow about the looming uncertainty that they would face at home—including employment and source of income...
Duterte not keen on lifting COVID-19 alert levels just yet
Philippine Daily Inquirer, April 5, 2022
Gabriel Pabico Lalu
President Rodrigo Duterte has discouraged appeals for a COVID-19 protocol less restrictive than Alert Level 1, saying it is not possible for now because many areas nationwide are still battling the transmission of the coronavirus...
Transport groups to push through with ₱14 fare hike petition
CNN Philippines, April 5, 2022
CNN Philippines Staff
Transport organizations will push through with their petition to increase the minimum jeepney fare to ₱14 in Metro Manila, Central Luzon, and Southern Tagalog, jeepney operators and drivers group Pasang Masda said Tuesday...
PH remains under minimal Covid risk amid new variant threat
The Manila Times, April 5, 2022
Red Mendoza
The country continues to be under minimal risk for the coronavirus disease 2019 (Covid-19) with the continued decline in the number of cases, according to the Department of Health (DoH)...
DOF: Government is intent on collecting all tax liabilities
Philippine Star, April 5, 2022
Ramon Royandoyan
By hook or by crook, the government will collect all taxes due, including those that the Marcos family owes to the state, Finance Secretary Carlos Dominguez III said Tuesday...
National ID registration hits 61.3-M halfway mark–data
BusinessMirror, April 5, 2022
Cai Ordinario
Majority of Filipinos have completed their registration for the National ID, according to data shared by the Department of Finance (DOF)...
Farmers say reinsurer role for PCIC to leave coverage gaps
BusinessWorld, April 5, 2022
Luisa Maria Jacinta C. Jocson
The Federation of Free Farmers (FFF) said the conversion of the Philippine Crop Insurance Corp. (PCIC) into a reinsurance company will leave a gap in the market that will leave crops uninsured...
Duterte orders house-to-house COVID-19 vaccination as doses near expiration
GMA News, April 5, 2022
Richa Noriega
President Rodrigo Duterte on Tuesday pushed for a house-to-house anti-COVID-19 vaccination program particularly in the countryside amid the expected expiration of millions of vaccine doses in the next few months...
DOF on Marcos estate tax: BIR cutting through issues to do job
GMA News, April 5, 2022
Jon Viktor D. Cabuenas
The Department of Finance and the Bureau of Internal Revenue is still keen on collecting all taxes, in response to reports claiming that heirs of the late dictator Ferdinand Marcos could not be compelled to pay P203 billion in estate taxes...
Trial courts nationwide fully operational
Manila Bulletin, April 5, 2022
Rey Panaligan
Trial courts nationwide are fully operational whether they are located in areas under Covid-19 Alert Level 1 or Alert Level 2...
14 organizations cited for quality management
Manila Bulletin, April 5, 2022
Bernie Cahiles-Magkilat
Fourteen Filipino organizations have been recognized by the government for their quality management, the Department of Trade and Industry said...
‘Captain Duterte ably steered ship’
Daily Tribune, April 5, 2022
Raadee Sausa
The country had sailed the rough seas but “President Duterte has proven himself to be a strong and steady captain of the ship,” Finance Secretary Carlos Dominguez III said during yesterday’s Philippine Economic Briefing (PEB)...
COVID-19 pandemic: Latest situation in the Philippines – April 2022
Rappler, April 5, 2022
How many people have tested positive for COVID-19 in the Philippines? How many have recovered, and how many have died? What is President Rodrigo Duterte doing about it?...
DILG: Proposed redefinition of 'fully vaccinated' to help PH fix inoculation backlogs
CNN Philippines, April 5, 2022
CNN Philippines Staff
The proposal to update the definition of "fully vaccinated" individuals will help the country catch up on its vaccination backlogs, the Department of the Interior and Local Government said Tuesday...
DOH, NTF: Only 2% of procured COVID-19 vaccines are considered wastage
CNN Philippines, April 5, 2022
CNN Philippines Staff
Amid concerns over the 27 million COVID-19 shots set to expire in July, health officials have assured that only 2% of the vaccines procured by the national government are considered wastage...
‘Game-changing reforms’ laid ground for strong economy
BusinessMirror, April 6, 2022
Samuel P. Medenilla
Despite the pandemic-stricken economy, Malacañang assured Filipinos on Tuesday it will leave a strong economic foundation for the next administration...
Amid rising inflation, BSP chief set on H2 timeline
BusinessMirror, April 6, 2022
Bianca Cuaresma
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno recognizes the “need to take action” in terms of monetary policy, as inflation is projected to spike further in the coming months...
March inflation climbs to 6-month high
BusinessWorld, April 6, 2022
Bernadette Therese M. Gadon
Philippine inflation climbed to a six-month high in March as food, utilities, and transport costs rose due to the spike in global oil prices after Russia’s invasion of Ukraine...
DoF briefs econ team of presidential bets
The Manila Times, April 6, 2022
Mayvelin U. Caraballo
Finance Secretary Carlos Dominguez III said his department had briefed certain presidential candidates' economic teams on the health of the Philippine economy...
Fuel rollback temporary — Cusi
Daily Tribune, April 6, 2022
Maria Romero
The slight oil price rollback this week may only be temporary as Saudi Arabia’s impending move of imposing premiums on crude exports to Asia, including the Philippines, threatens to jack up prices anew...
PSEi down on inflation surge
The Manila Times, April 6, 2022
Eireene Jairee Gomez
Philippine shares finished at 7,156.07 on Tuesday, down 7.14 points, or 0.10 percent, as the surge in inflation affected investors' sentiment...
Dominguez: 2022 poverty reduction target still achievable despite rising inflation
Philippine Daily Inquirer, April 5, 2022
Ben O. de Vera and Ronnel Domingo
Inflation quickened to a five-month-high of 4 percent year-on-year in March, as expensive oil wrought by Russia’s invasion of Ukraine spilled over to domestic transport, food and utility prices...
Ex-DA chief questions wisdom of importing rice in harvest season
BusinessMirror, April 5, 2022
Lito U. Gagni
Former Agriculture Secretary Leonardo Montemayor yesterday questioned the wisdom of allowing rice imports during the harvest season, as it hits the farmers with low palay prices that deepen their poverty...
E-payments on track to hit 50% by 2023
Manila Bulletin, April 5, 2022
Raadee Sausa
The adoption of digital payments remains on track and is expected to reach at least 50 percent of business transactions by 2023, Bangko Sentral ng Pilipinas (BSP) Gov. Benjamin Diokno said...
Foreign tourist arrivals hit over 186,000 from Feb. 10
BusinessWorld, April 5, 2022
Revin Mikhael D. Ochave
More than 186,000 foreign tourists have arrived in the Philippines since reopening its borders on Feb. 10, according to the Department of Tourism (DoT)...
Gov’t retains high growth target, but warns of Ukraine war impact
Manila Standard, April 5, 2022
Julito G. Rada
Government economic managers said Tuesday there is a strong basis to retain the 2022 gross domestic product growth target of 7 percent to 9 percent, but warned that the Russia-Ukraine conflict could have an indirect impact on world prices and economic performance...
PH debt-to-GDP ratio to decline as pandemic fades, economy recovers: Finance chief
ABS-CBN, April 5, 2022
Jessica Fenol
The Philippines' debt-to-GDP ratio, which soared to 60.5 percent due to the heavy borrowing in response to the COVID-19 pandemic, could start declining in 2022, Finance Secretary Carlos Dominguez said Tuesday...
No food, oil shortage despite Russia-Ukraine crisis: Finance chief
ABS-CBN, April 5, 2022
Jessica Fenol and Jekki Pascual
Finance Secretary Carlos Dominguez on Tuesday allayed fears of food and oil shortages amid the ongoing conflict between Russia and Ukraine...
DTI lists 250 foreign investment leads worth P450-B
Manila Bulletin, April 5, 2022
Bernie Cahiles-Magkilat
The Department of Trade and Industry (DTI) has a list of over 250 foreign investment leads worth P450 billion that are expected to come in within 18 months or some before President Duterte steps down from office...