August 11, 2022
How minimum wages compared across regions in July
Source BusinessWorld
PHL likely to hit growth goals — Moody’s Analytics
BusinessWorld, August 11, 2022
DGCR
The Philippine economy will likely achieve its full-year growth target of 6.5-7.5%, despite soaring inflation and a sluggish jobs market, Moody’s Analytics said...
Net FDI inflows jump 64% in May
BusinessWorld, August 11, 2022
Keisha B. Ta-asan
Net inflows of foreign direct investments (FDIs) increased 64% in May, as investors adopted a wait-and-see attitude after the presidential elections...
Earnings of Philippine banks up 16.7%
Philippine Star, August 11, 2022
Earnings of Philippine banks went up by 16.7 percent to P143.12 billion in the first half from P122.67 billion in the same period last year, data from the Bangko Sentral ng Pilipinas (BSP) showed...
2022 PH growth projections slashed
The Manila Times, August 11, 2022
Mayvelin U. Caraballo
Following the slower-than-expected performance in the second quarter, local lender Bank of the Philippine Islands (BPI) and global research company Capital Economics have revised downward their economic growth outlooks for the country this year...
Capital Economics trims 2022 Philippines growth forecast as Q2 disappoints
Philippine Star, August 11, 2022
Louella Desiderio
Think tank Capital Economics has trimmed its forecast for Philippine gross domestic product (GDP) growth this year following the slower-than-expected economic performance in the second quarter...
Marcos rejects sugar import
The Manila Times, August 11, 2022
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. has thumbed down a proposal to import 350,000 metric tons (MT) of sugar amid reports of a looming supply shortage, Malacañang announced on Wednesday...
Enrollees now at 60% of target, DepEd reports
BusinessMirror, August 10, 2022
Claudeth Mocon-Ciriaco
The Department of Education (DepEd) reported on Wednesday that the latest number of enrollees already accounts for around 60 percent of the 28.6 million target for school year (SY) 2022-2023...
DoE backs full foreign ownership of renewable energy projects
BusinessWorld, August 10, 2022
Alyssa Nicole O. Tan
The Department of Energy (DoE) said on Wednesday that it supports 100% foreign ownership of renewable energy projects to facilitate the Philippines’ shift to indigenous sources of power, making it less vulnerable to disruptions in the supply of imported fuels...
Padilla files bill raising RCEF take from rice tariffs to P15 billion/year
BusinessWorld, August 10, 2022
Alyssa Nicole O. Tan
A bill has been filed in the Senate proposing to increase the Rice Competitiveness Enhancement Fund (RCEF) allocation from rice tariffs to P15 billion from P10 billion a year...
Does Phl history refine Filipinos’ moral values?
Daily Tribune, August 11, 2022
Lade Kabagani
Debates on how crucial for Filipino high school students to examine our history have been opened once again...
CSC: Scrapping mandatory retirement age would affect GSIS fund life
GMA News, August 10, 2022
Llanesca T. Panti
Scrapping the mandatory retirement age of 65 would affect the pension fund and budget for other benefits for future retirees, Civil Service Commissioner Aileen Lizada said Wednesday...
Bulacan Ecozone bill refiled, tweaked to suit veto message
BusinessMirror, August 10, 2022
Jovee Marie De La Cruz
Considering the massive potential benefits from the proposal creating the Bulacan Airport City Special Economic Zone Authority, the chairman of the House Committee on Ways and Means has refiled the bill creating the Bulacan Ecozone...
Makabayan solons refile bill exempting poll workers’ pay from tax
Philippine Daily Inquirer, August 10, 2022
Gabriel Pabico Lalu
The House of Representatives’ Makabayan bloc has refiled the bill seeking to remove taxes on the pay of poll workers rendering service during the local and national elections — a proposal from the 18th Congress that President Ferdinand Marcos Jr. had already vetoed...
Duterte bill proposes ₧5K/month additional pay for BHWs’ pandemic role
BusinessMirror, August 10, 2022
Jovee Marie De La Cruz
For the “heroic” role played by barangay health workers (BHW) at the height of the pandemic, a lawmaker is proposing incentives totaling at least P5,000 per month, along with other benefits and privileges, for qualified BHWs...
DTI drafts vape law rules as studies show no impact on indoor air quality
Manila Standard, August 10, 2022
Othel V. Campos
Vapors produced by smoke-free alternatives to cigarettes like vapes and heated tobacco products have no adverse impact on indoor air quality unlike smoke from combustible cigarettes, according to peer-reviewed scientific studies...
Congress asked to stretch validity of COVID vax law
Manila Standard, August 11, 2022
Willie Casas, Macon Ramos-Araneta
The Department of Health (DOH) has asked Congress to extend the validity of the COVID-19 Vaccination Program Act, saying its provisions would become invalid once the government lifts the state of calamity...
Senate to examine vaccination law effectivity extension
CNN Philippines, August 10, 2022
Faith Yuen Wei Ragasa
Senate President Migz Zubiri on Wednesday said the Senate will consider amending the COVID-19 Vaccination Program Act of 2021 or the Vaccination Law to extend its effectivity...
Use of blockchain, crypto in PHL may grow further
BusinessWorld, August 11, 2022
Keisha B. Ta-asan
The adoption of blockchain technology and cryptocurrency is likely to continue growing in the Philippines as people explore more of its use in the financial infrastructure...
Taiwan-China conflict may result in Philippines humanitarian crisis – DND
Philippine Star, August 11, 2022
Paolo Romero
The Philippines may bear the brunt of an ensuing humanitarian crisis in the event of an armed conflict between China and Taiwan, a defense official told a Senate hearing yesterday...
PH, EU exchange vaccination certificate recognition
The Manila Times, August 11, 2022
Bernadette E. Tamayo
The European Union Digital Covid-19 Certificate (EU DCC) is now recognized in the Philippines just as its Philippine counterpart is accepted in EU, the Department of Foreign Affairs (DFA) said...
PH seeks dialogue with Russia to formally scrap chopper deal
Philippine Daily Inquirer, August 11, 2022
Frances Mangosing
The Department of National Defense (DND) said it would seek a “diplomatic dialogue” with Russia as it moved to formalize the termination of the contract with Sovtechnoexport LLC for the procurement of 16 Mi-17 heavy-lift helicopters worth P12.7 billion...
Taiwan aid eases quake victims’ plight
Daily Tribune, August 11, 2022
Gab Humilde Villegas
The hardships of victims of the magnitude 7 earthquake that hit Abra province on 27 July will be eased with the US$200,000 donation of Taiwan to the Philippine Government on Wednesday...
3 PH firms make it to Forbes Asia's 'Best Under A Billion' list
CNN Philippines, August 10, 2022
CNN Philippines Staff
Three companies from the Philippines made it to this year's Best Under A Billion list of Forbes Asia, which tracks 200 publicly-listed firms across the region with sales under $1 billion...
Meta clarifies FB ‘live selling’ in PH can continue
CNN Philippines, August 10, 2022
CNN Philippines Staff
Facebook’s parent company Meta has clarified that users of the social media platform in the country can continue to do live selling through ‘Facebook Live’...
Sulu heirs bare Malaysia talks
Daily Tribune, August 11, 2022
Perseus Echeminada
Negotiations have started between the Malaysian government and the descendants of the Sultanate of Sulu who are based in Sabah as they are also now working on an amicable settlement amid the $14.9 billion arbitration award granted by a French tribunal...
China warns it will not tolerate Taiwan 'separatists'
Philippine Star, August 11, 2022
Jing Xuan Teng - Agence France-Presse
China on Wednesday vowed zero tolerance for "separatist activities" in Taiwan and reaffirmed that it would take the self-ruled island by force if necessary...
'Crimes vs humanity seen rising in Myanmar'
The Manila Times, August 11, 2022
Agence France-Presse
United Nations investigators on Tuesday reported mounting evidence of crimes against humanity, including murder, torture and sexual violence, committed in Myanmar since last year's coup...
UN sees ‘big uptick’ in applications for Ukraine grain shipments
Philippine Daily Inquirer, August 11, 2022
The United Nations expects to see a “big uptick” in applications for ships to export Ukraine grain after transit procedures were agreed on by Russia, Ukraine, Turkey, and the United Nations, a senior UN official said on Wednesday...
SARS-related coronaviruses infect around 66,000 people a year in SE Asia – study
BusinessWorld, August 10, 2022
Reuters
About 66,000 people in Southeast Asia are infected each year with SARS-related coronaviruses, and nearly 500 million people live near habitats where bat hosts of those viruses are found, according to a study released on Wednesday...
U.S. rethinks steps on China tariffs in wake of Taiwan response -sources
Philippine Daily Inquirer, August 11, 2022
David Lawder, Jeff Mason
China’s war games around Taiwan have led Biden administration officials to recalibrate their thinking on whether to scrap some tariffs or potentially impose others on Beijing, setting those options aside for now, according to sources familiar with the deliberations...
Ukraine accuses Russia of using nuclear plant for deadly rocket attack
Philippine Daily Inquirer, August 11, 2022
Reuters
Ukraine accused Russia on Wednesday of firing rockets from around a captured nuclear power plant, killing at least 13 people and wounding 10, in the knowledge it would be risky for Ukraine to return fire...
Pelosi: U.S. cannot allow China’s ‘new normal’ over Taiwan
Philippine Daily Inquirer, August 11, 2022
Reuters
House of Representatives Speaker Nancy Pelosi said on Wednesday the United States could not allow China to normalize the new level of pressure on Taiwan it asserted with days of military drills following her visit to the Chinese-claimed island...
China’s consumer inflation pushes higher
Philippine Star, August 11, 2022
Agence France-Presse
China’s consumer inflation rose in July to a two-year high, official data showed Wednesday, with a surge in pork prices pushing up the cost of food...
Hong Kong's eased quarantine measures could bring down wages of foreign domestic helpers: agencies
ABS-CBN News, August 11, 2022
Charmaine Choi, South China Morning Post
Hong Kong's eased quarantine measures for overseas travellers could bring down the wages of foreign domestic helpers, employment agencies have said...
China military ‘completes tasks’ around Taiwan, plans regular patrols
Rappler, Augsut 10, 2022
Reuters
China's military drills last week drills included launches of ballistic missiles, some of which flew over the island's capital of Taipei, and simulated sea and air attacks in surrounding skies and waters..
Malaysia urges ASEAN states to engage Myanmar junta’s rivals
Rappler, August 10, 2022
Reuters
ASEAN countries are losing patience with the Myanmar junta over its failure to follow a plan that includes multi-party dialogue, humanitarian aid access and a cessation of hostilities...
Brazil to export record level of chicken meat, pork to PHL
BusinessMirror, August 10, 2022
Jasper Y. Arcalas
Brasilia will export a record volume of chicken meat and pork to Manila this year, cementing Brazil’s position as one of the Philippines’s top suppliers of meat products...
World's biggest ice sheet could cause massive sea rise without action — study
ABS-CBN News, August 11, 2022
Agence France-Presse
The world's biggest ice sheet could cause "several meters" of sea-level rise over centuries if the global temperature rises more than 2 degrees Celsius, according to a British study published Wednesday...
Wall Street rallies as cooling inflation eases rate hike fears
GMA News, August 11, 2022
Herbert Lash and Bansari Mayur Kamdar, Reuters
The Nasdaq and S&P 500 surged more than 2% on Wednesday after data showed US inflation slowed more than expected in July and raised hopes the Federal Reserve will become less aggressive on interest rates hikes...
DND ‘formalizing’ termination of P12.7-B chopper deal with Russia
BusinessMirror, August 10, 2022
Rene Acosta
The Department of National Defense (DND) is already in the process of “formalizing” the termination of the contract involving the procurement of 16 Mi-17 helicopters from Russia, which the former Duterte administration shelved days before it left office...
ADB pushes climate action, smart transport in PH
Manila Bulletin, August 10, 2022
Chino S. Leyco
The Asian Development Bank (ADB) would focus its support to the Philippines on climate action, climate smart transport and communication, and investing in Filipinos’ welfare for the next six-year, the Department of Finance (DOF) said...
Economists urge US to return Afghanistan’s frozen assets
Manila Standard, August 11, 2022
Agence France-Presse
Several dozen prominent US and international economists urged the United States Wednesday to hand over to Afghanistan $7 billion in central bank reserves frozen when the Taliban seized control of the country nearly one year ago...
Palace denies Marcos signed sugar order
BusinessWorld, August 11, 2022
Kyle Aristophere T. Atienza, Luisa Maria C. Jocson and Revin Mikhael D. Ochave
Malacañang late on Wednesday denied approving a sugar importation order that was uploaded on the regulator’s website, then taken down, saying that it was not signed by President Ferdinand R. Marcos, Jr...
PCC says telco competition probe won’t go past two years
BusinessWorld, August 11, 2022
Revin Mikhael D. Ochave
The competition complaints filed by DITO Telecommunity Corp. against Smart Communications, Inc. and Globe Telecom, Inc. is not expected to go over a two-year investigation period, an official of the Philippine Competition Commission (PCC) said on Wednesday...
Biz groups urge govt: Allow stopgap sugar importation
BusinessWorld, August 10, 2022
Andrea E. San Juan
Business groups are urging the government to allow importation of sugar to address the shortage in supply and the increasing prices of refined sugar, sweetened food and beverage products...
Redefine vaccination status - DoH
The Manila Times, August 11, 2022
Red Mendoza
The Department of Health (DoH) said that it will ask the Office of the President to redefine the vaccine status from two doses to three in a bid to increase the number of Filipinos getting boosted against Covid-19...
DepEd to review 'anomalous' laptop deal
The Manila Times, August 11, 2022
Kaithreen Cruz
The Department of Education (DepEd) said on Wednesday that it will conduct a thorough review of the agency's procurement of laptops using Bayanihan 2 funds, which the Commission on Audit (CoA) found questionable...
COA flags ‘lack of due diligence’ in P1.38-B PPE purchase
Philippine Daily Inquirer, August 11, 2022
Julie M. Aurelio
The Procurement Service of the Department of Budget and Management (PS-DBM) did not exercise due diligence in buying P1.386 billion worth of personal protective equipment (PPE) for COVID-19 front-liners as these were found to be unauthorized for sale or public use, according to the Commission on Audit (COA)...
DepEd ‘quick fix’: Supplier must replace laptops if slow
Philippine Daily Inquirer, August 11, 2022
Dexter Cabalza
Teachers who have received the overpriced but slow laptops that were recently flagged by the Commission on Audit (COA) may get a proper replacement device, according to the Department of Education (DepEd)...
DOH applauds move to amend vaccination law
Philippine Daily Inquirer, August 11, 2022
Kathleen de Villa
Department of Health (DOH) officer in charge Maria Rosario Vergeire on Wednesday welcomed the proposal of the Senate leadership to amend the law on the government’s vaccination program to widen access to COVID-19 jabs...
DOH says the earliest that PH may acquire monkeypox vaccine is by 2023
Philippine Daily Inquirer, August 10, 2022
Beatrice Pinlac
The Philippines may receive supplies of monkeypox vaccines by 2023, Department of Health (DOH) officer-in-charge Maria Rosario Vergeire said Wednesday...
DOE eyes hybrid systems for power
Manila Standard, August 11, 2022
Macon Ramos-Araneta and Willie Casas
The Department of Energy (DOE) is looking at shifting to hybrid systems to provide long-term solutions to the country’s energy problems DOE Secretary Raphael Perpetuo Lotilla said: “The long-term solution… is really to shift to hybrid systems.”...
DepEd urges parents to enroll kids as only 67% of goals have enlisted
Manila Standard, August 11, 2022
More than 18.6 million students in basic education have registered for the coming school year, the Department of Education (DepEd) said Wednesday...
Teachers: We’re like ‘solicitors general’ during Brigada drive
Philippine Daily Inquirer, August 11, 2022
Jane Bautista
Some public school teachers have taken to calling themselves “solicitors general” or “professional beggars,” as they are left with little choice but to seek donations in cash or in kind from students’ parents, alumni, or volunteers to prepare classrooms for the Aug. 22 opening of classes...
1.2M reserve force ready to defend PH, help during calamities
Philippine Daily Inquirer, August 10, 2022
Maila Ager
In times of war and calamities, the Philippines can rely on 1.2 million reserve force, a military official told senators on Wednesday...
DOE told: Expose politicians ‘protecting’ inept power co-ops
Philippine Daily Inquirer, August 11, 2022
Melvin Gascon
It’s time for the Department of Energy (DOE) to uncover certain politicians acting as “protectors” of inept or predatory electric cooperatives, and who leave regulators helpless to act on consumer complaints, Sen. Raffy Tulfo said on Tuesday...
PBBM adopts 7 previous Sandigan rulings as defense proof in ill-gotten wealth raps
Manila Standard, August 10, 2022
President Ferdinand Marcos Jr. has adopted seven Sandiganbayan decisions junking ill-gotten and forfeiture cases involving P304 billion against the Marcos family as defense evidence in the ongoing ill-gotten wealth trial of Civil Case 0014...
Solon eyes probe on NCAP amid complaints from vehicle owners
Manila Standard, August 10, 2022
Maricel Cruz, Joel E. Zurbano
Surigao del Norte Rep. Robert Ace Barbers on Tuesday called for the immediate suspension of the no-contact apprehension policy (NCAP) until all issues hounding it, including questions on its constitutionality, have been resolved...
DSWD delists over 17,000 4Ps grantees in Central Visayas
Philippine Daily Inquirer, August 11, 2022
Nestle Semilla
The government has removed 17,639 beneficiaries from the Pantawid Pamilyang Pilipino Program (4Ps) in Central Visayas since January, the Department of Social Welfare and Development (DSWD) said...
COVID-19 growth rate in Metro Manila drops to 5%, cases may peak next week — Octa
Philippine Daily Inquirer, August 10, 2022
Daniza Fernandez
COVID-19 growth rate in Metro Manila slid down to five percent this week, indicating that cases in the capital region may peak next week, independent analytics group Octa Research said on Wednesday...
DBM releases P1.5 billion to fund P10,000-shelter aid for Typhoon Odette victims
Philippine Daily Inquirer, August 10, 2022
Neil Arwin Mercado
Funding worth PP1.58 billion has been released to bankroll the emergency shelter assistance for victims of Typhoon Odette (international name: Rai)...
Changing mosquito genes, spreading bacteria: Science sees success vs dengue
Philippine Daily Inquirer, August 10, 2022
Cristina Eloisa Baclig
(First of two parts)
Amid the rise of dengue cases and deaths in many countries worldwide, including the Philippines, scientists are playing God to combat the disease by tinkering with the genetic makeup of mosquitoes and bringing harmless bacteria into the picture...
Senate panel to hold hearing on monkeypox, COVID-19 response measures
CNN Philippines, August 10, 2022
CNN Philippines Staff
The Senate Committee on Health will hold a hearing on Monday to discuss the government’s response to the monkeypox virus and the ongoing COVID-19 pandemic, panel chair Senator Bong Go said...
LRT-2 'libreng sakay' for students starts August 22
CNN Philippines, August 10, 2022
CNN Philippines Staff
The LRT-2 will begin offering free rides for students on August 22, Light Rail Transit Authority (LRTA) administrator Hernando Cabrera said Wednesday...
Philippine bookshops rush online as coronavirus pandemic boosts sales
BusinessWorld, August 11, 2022
Michelle Anne P. Soliman
Beverly Wico Siy, 42, failed to publish a book on Filipino idioms in 2020 amid a coronavirus pandemic...
BSP may raise rates by 125 bps more this year as inflation has yet to peak
BusinessWorld, August 11, 2022
K.B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) may hike its key interest rates by another 125 basis points (bps) this year, beginning with a 50-bp hike next week, to curb stubborn inflation, Nomura Global Markets Research said...
Diokno: PH job market improving
The Manila Times, August 11, 2022
Tiziana Celine Piatos
The country's job market continues to improve despite the 6-percent unemployment rate in June 2022, Finance Secretary Benjamin Diokno said on Wednesday...
BSP may temper rate hike due to weak growth
Philippine Daily Inquirer, August 11, 2022
Ronnel W. Domingo
With the Philippine economy having grown slower during the second quarter, the Bangko Sentral ng Pilipinas (BSP) is seen to continue raising the policy rate in the remainder of this year but in smaller increments...
Fresh debts boosted FDI inflows in May
Philippine Daily Inquirer, August 11, 2022
Ronnel W. Domingo
Fresh debts from foreign lenders boosted the net inflows of foreign direct investments (FDI) into the Philippines, which surged at double digits for the second month in a row by 64.1 percent last May to $742 million from $452 million in the same month last year...
Analysts see central bank hiking rates
The Manila Times, August 11, 2022
Mayvelin U. Caraballo
Despite the slower-than-expected performance of the Philippine economy in the second quarter, international and local observers said the Bangko Sentral ng Pilipinas (BSP) is likely to continue its monetary policy normalization by raising interest rates...
ADB vows to back new government’s economic agenda
Manila Standard, August 10, 2022
Julito G. Rada
The Asian Development Bank expressed full support to the Marcos administration’s socioeconomic priorities aimed at achieving a sustainable long-term economic growth...
DoE's call to get steer away from energy imports lauded
The Manila Times, August 11, 2022
Eireene Jairee Gomez
Consumer group Power for People Coalition (P4P) on Wednesday lauded the Department of Energy's (DoE) declaration to steer away from power resource importation and shift to local power sources...
Balisacan says PPP projects must outperform ODA in cost-benefit analysis
BusinessWorld, August 10, 2022
Diego Gabriel C. Robles
The public-private partnership (PPP) mode of financing major projects will be subjected to cost-benefit analysis to determine whether such an option is more beneficial than tapping official development assistance (ODA), Socioeconomic Planning Secretary Arsenio M. Balisacan said...
Stocks end flat ahead of US inflation data
Philippine Star, August 11, 2022
Iris Gonzales
Stock trades were subdued yesterday, with the main index closing nearly flat as most regional markets await US inflation data to be released later in the global day...
Banks trim bad loans by 13%
Philippine Star, August 11, 2022
Lawrence Agcaoili
Soured loans of Philippine banks dropped by almost 13 percent to P421.31 billion in end-June from P482.99 billion a year ago as the industry continued to restructure more loans amid external headwinds brought about by the ongoing pandemic and the Russia-Ukraine war...
DOE: PHL has enough power reserves for next 6 months
BusinessMirror, August 10, 2022
Butch Fernandez
Under questioning at a Senate Energy Committee hearing Wednesday, Department of Energy (DOE) officials allayed apprehensions over looming brownouts when asked about the power outlook for the next six months...
Recovering economy drawing in more jobseekers, says Laguesma
BusinessMirror, August 10, 2022
Samuel P. Medenilla
The country’s economic growth is helping attract more jobseekers back to the workforce, according to the Department of Labor and Employment (DOLE)...