August 12, 2022
Philippines’ Richest 2022: Wealth of the Philippines’ 50 richest drops despite economic recovery
Source BusinessMirror
PHL aims to become high-income economy by 2045 at the latest
BusinessWorld, August 12, 2022
Diego Gabriel C. Robles
The Philippines now aims to become a high-income economy by 2045 at the latest, Socioeconomic Planning Secretary Arsenio M. Balisacan said...
Palace: Heads will roll for sugar import mess
Philippine Daily Inquirer, August 12, 2022
Jerome Aning
Malacañang on Thursday said that “heads will roll” as it probes the issuance of what it called an illegal resolution authorizing the importation of an additional 300,000 metric tons of sugar on top of what was imported last May...
Fitch Solutions hikes PH growth outlook
The Manila Times, August 12, 2022
Mayvelin U. Caraballo
Fitch Solutions has raised its 2022 Philippine growth forecast on account of a strong first half and despite an anticipated second semester slowdown...
‘COVID-19 calamity decision soon’
Manila Standard, August 12, 2022
Vito Barcelo, Macon Ramos-Araneta
President Ferdinand Marcos Jr. will consider the recommendations of the Department of Health (DOH) on whether to extend the COVID-19 state of calamity, which expires on Sept. 12, a Palace spokesperson said Thursday...
Number coding scheme back in NCR next week
Manila Standard, August 12, 2022
Joel E. Zurbano
The Metropolitan Manila Development Authority (MMDA) on Thursday announced it will reimplement the Unified Vehicular Volume Reduction Program (UVVRP) or the number coding scheme in the National Capital Region effective August 15, from 7 a.m. to 10 a.m. and 5 p.m. to 8 p.m. on weekdays except for holidays...
Weak peso, stock market hit PH billionaires’ net worths hard
Philippine Daily Inquirer, August 12, 2022
Daxim L. Lucas
Filipino billionaires lost a combined $7 billion – P387.1 billion under the present exchange rate – over the last year as their fortunes were pummeled by the plunging value of the peso against the US dollar and a weak stock market through which most of their assets are tallied...
Ample budget sought for creative sector’s development under new law
BusinessMirror, August 11, 2022
Andrea E. San Juan
Alloting significant funding in the 2022 budget for the timely implementation of the newly enacted Creative Industries Development Act will allow the Philippines to cash in on the rich diversity of its creative talent, which are widely regarded as globally competitive...
Padilla measure seeks to allow same-sex couples’ civil unions
Manila Standard, August 11, 2022
Macon Ramos-Araneta
Sen. Robin Padilla has filed Senate Bill 449 aiming to to institutionalize the civil union of same- sex couples...
DTI issues new SRPs on basic goods, school supplies
Manila Bulletin, August 11, 2022
Bernie Cahiles-Magkilat
The Department of Trade and Industry has issued suggested retail prices (SRP) bulletins on basic necessities and prime commodities (BNPCs) and school supplies taking into consideration increased prices in raw materials and distribution costs...
SC: Musicians can collect royalty for radio play in commercial sites
Philippine Daily Inquirer, August 12, 2022
Tina G. Santos
In a legal victory for the country’s music industry and advocates of intellectual property protection, the Supreme Court has ruled in favor of the Filipino Society of Composers, Authors and Publishers Inc. (Filscap), upholding the rights of its members to collect royalties and sue for copyright infringement...
PUVs to ply new ‘non-Edsa’ routes; coding scheme back
Philippine Daily Inquirer, August 12, 2022
Dempsey Reyes, Jane Bautista
Buses, jeepneys, and UV Express vehicles will be allowed to ply more than 100 new alternative routes in Metro Manila away from Edsa, while the regular hours of the number coding scheme will be reintroduced as part of preparations to ease traffic in the capital ahead of the August 22 opening of classes...
Villar bill shields OFW money vs malpractices
Manila Standard, August 11, 2022
Macon Ramos-Araneta
Senator Cynthia Villar eyes stronger state protection for the hard-earned money of overseas Filipino workers who send it to their respective families in the Philippines...
Meta testing expanded encryption features amid renewed scrutiny of messaging data
CNN Philippines, August 12, 2022
Clare Duffy, CNN Business
Meta on Thursday said it is testing expanded encryption features for Messenger and Instagram, days after the company came under scrutiny for providing messages to police in an abortion-related case...
Joint PH-US sea patrols eyed
The Manila Times, August 12, 2022
Francis Earl Cueto
The Philippines is ready to conduct joint patrols with the United States in the West Philippine Sea (WPS), the Department of National Defense (DND) told The Manila Times on Thursday...
US backs PH vs biological, chemical security threats
The Manila Times, August 11, 2022
Bernadette E. Tamayo
The United States has pledged to support the Philippines in addressing biological and chemical security threats, its embassy in Manila said on Thursday...
Philippines ready with contingencies over US-China rift on Taiwan
BusinessWorld, August 11, 2022
Alyssa Nicole O. Tan
The Philippines is prepared for disasters including a possible escalation of tensions between the US and China over Taiwan, its Department of Foreign Affairs (DFA) said on Thursday...
Brazil urges PHL to expand foreign meat establishments list to increase volume of meat exports
BusinessMirror, August 11, 2022
Jasper Y. Arcalas
Brazilian meat exporters are urging Manila to accredit more meat establishments in the Latin American country to increase their volume of shipments to the Philippines...
DFA backs measure highlighting WPS
Manila Standard, August 12, 2022
Rey E. Requejo
The Department of Foreign Affairs has backed a legislative measure seeking to institutionalize the use of the term “West Philippine Sea” to pertain to the air space, seabed, and subsoil on the western side of the Philippine archipelago...
World Bank backs Philippine digitalization efforts
Philippine Star, August 12, 2022
Louise Maureen Simeon
The World Bank has committed to boost its support for the country’s digitalization and modernization efforts, the Department of Finance said...
Balut named worst egg dish in the world, tortang talong is 7th best
CNN Philippines, August 11, 2022
CNN Philippines Staff
Two popular egg-based Filipino delicacies have landed on different lists published by TasteAltas...
World Bank backs Philippine digitalization efforts
Philippine Star, August 12, 2022
Louise Maureen Simeon
The World Bank has committed to boost its support for the country’s digitalization and modernization efforts, the Department of Finance said...
Oil demand rises as gas prices surge
The Manila Times, August 12, 2022
Agence France-Presse
Global oil demand will rise more than previously forecast this year as heat waves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency (IEA) said on Thursday...
KL ‘divide’ tactic rued
Daily Tribune, August 11, 2022
Perseus Echeminada
Malaysian government officials have been talking to certain Sulu Sultanate members who reside in Sabah, efforts being described as part of a “divide and rule” tactic by Kuala Lumpur (KL)...
Strikes at Ukraine nuclear plant prompt UN chief to call for demilitarized zone
Philippine Daily Inquirer, August 12, 2022
Reuters
Russia and Ukraine accused each other on Thursday of shelling Europe’s biggest nuclear power plant as the U.N. chief proposed a demilitarised zone at the site amid fears of a catastrophe...
Latvia, Estonia withdraw from China cooperation group
Philippine Daily Inquirer, August 12, 2022
Reuters
Latvia and Estonia withdrew from a cooperation group between China and over a dozen Central and Eastern European countries on Thursday, following in the footsteps of Baltic neighbor Lithuania which withdrew last year...
Global youth unemployment set to slip to 73 million in 2022 — UN
Philippine Star, August 12, 2022
The total global number of unemployed youths should fall to 73 million in 2022, down by two million from the year before, the United Nations said Thursday...
Long COVID risk up for unvaccinated children; at-home antibody test shows promise
GMA News, August 12, 2022
A small study is adding to evidence that children can develop long COVID-19 even if the virus did not make them seriously ill...
North Korea declares 'victory' over Covid
The Manila Times, August 11, 2022
Agence France-Presse
North Korea's Kim Jong Un declared a "shining victory" over Covid-19 as his sister revealed he had fallen ill during the outbreak, which she blamed on Seoul, state media said Thursday...
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WHO says Covid-19 deaths fall overall by 9%, infections stable
BusinessMirror, August 11, 2022
Associated Press
The number of coronavirus deaths fell by 9 percent in the last week while new cases remained relatively stable, according to the latest weekly pandemic report released by the World Health Organization Wednesday...
US envoy to travel to Gulf to strengthen Yemen truce
Manila Standard, August 12, 2022
Agence France-Presse
The US State Department announced Thursday that its special envoy to Yemen will travel to the Gulf region this week to help extend the truce in the war-torn nation...
Moderna CEO says Covid vaccines will evolve like 'an iPhone'
CNN Philippines, August 11, 2022
Michelle Toh, CNN Business
Forget taking two to three Covid shots a year. Moderna hopes to roll out a single-dose annual booster to cover the coronavirus, the flu and another common respiratory virus within the next five years...
Cheaper, changing and crucial: the rise of solar power
The Manila Times, August 11, 2022
Agence France-Presse
Generating power from sunlight bouncing off the ground, working at night, even helping to grow strawberries: solar panel technology is evolving fast as costs plummet for a key segment of the world's energy transition...
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US confirms search of Trump’s home, asks court to unseal warrant
Philippine Daily Inquirer, August 12, 2022
Reuters
The U.S. Justice Department asked a judge on Thursday to make public the warrant that authorized an FBI search of Donald Trump’s Florida home, after the former president attacked the search as an act of political retribution...
Switch from gas boosts oil demand, but economic headwinds loom – IEA
Rappler, August 11, 2022
Reuters
The International Energy Agency describes the rise in oil demand as a quirk of an energy market rattled by supply jitters...
China warns other nations not to follow US ‘political performance’ on Taiwan
ABS-CBN News, August 11, 2022
Teddy Ng, South China Morning Post
Chinese Foreign Minister Wang Yi has warned other nations not to follow the “political performance” of the United States on Taiwan...
Creditors agree to 2-year pause on Ukraine $20-B debt
Philippine Daily Inquirer, August 11, 2022
Agence France-Presse
Ukraine’s lenders agreed to a pause for the payment of its $20-billion (19.4 billion euro) debt, as its economy has been severely impacted by Russia’s invasion, the prime minister said...
The Arctic is warming four times faster than the rest of the planet, new research shows
CNN Philippines, August 11, 2022
Rachel Ramirez, CNN
As sea ice vanishes, Greenland melts and wildfires scorch the planet's northernmost forests, new research confirms what scientists are sounding alarms about: the Arctic has warmed much faster than the rest of the world in the past several decades...
Probe on ‘illegal’ SRA order underway
BusinessWorld, August 12, 2022
Kyle Aristophere T. Atienza and Revin Mikhael D. Ochave
An investigation is underway over the “illegal” sugar importation order that was aimed at addressing the tight local supply and high prices, according to Malacañang...
State of calamity extension rests on DoH, says presidential palace
BusinessWorld, August 11, 2022
Norman P. Aquino and Kyle Aristophere T. Atienza
The government is leaving it to health authorities whether the Philippines should remain under a so-called state of calamity, the presidential palace said on Thursday, amid increasing infections spurred by more contagious Omicron coronavirus subvariants...
DOJ eyes int’l criminal justice expert
Philippine Daily Inquirer, August 12, 2022
Tina G. Santos
Justice Secretary Jesus Crispin Remulla is planning to enlist international criminal justice expert Dr. Raymund Narag to head the agency’s Parole and Probation Administration...
DepEd laptop suppliers dispute state auditors’ findings
Philippine Daily Inquirer, August 12, 2022
Ronnel W. Domingo
The joint-venture group which supplied 39,583 units of allegedly overpriced but outdated laptops to the Department of Education (DepEd) on Thursday insisted that the goods “meet all technical specifications imposed by the government, are competitively priced and perform according to their intended use.”...
Military modernization program stalled again
Philippine Daily Inquirer, August 12, 2022
Frances Mangosing
The Armed Forces of the Philippines would likely fail to meet its target to complete the second stage of a capability upgrade program by the end of the year, according to a top military official...
Name rights officials, CHR urges Marcos
Philippine Daily Inquirer, August 12, 2022
Krixia Subingsubing
The Commission on Human Rights (CHR) on Thursday urged President Ferdinand Marcos Jr. to name his nominees to fill the vacant CHR seats so it could prepare for the Universal Periodic Review (UPR) of the United Nations in November...
Senate probes sought on flagged DepEd laptop contracts, CHED scholarship funds
BusinessWorld, August 11, 2022
Alyssa Nicole O. Tan
Resolutions have been filed at the Senate calling for separate probes on laptop purchases and scholarship fund disbursement by education agencies that were flagged by state auditors...
TV5, ABS-CBN deal kept off PCC radar
Daily Tribune, August 11, 2022
Michelle R. Guillang
The Philippine Competition Commission (PCC) revealed Thursday that it was not consulted by MediaQuest Holdings, the operator of TV5; and ABS-CBN Corp. in relation to their investment agreement...
Quake infra damage hits P2B – NDRRMC
The Manila Times, August 12, 2022
Francis Earl Cueto
The National Disaster Risk Reduction and Management Council (NDRRMC) on Thursday said damage to infrastructure from the July 27 magnitude 7 earthquake that rocked the province of Abra is now nearing P2 billion...
Duterte admin only fully enforced 12% of 257 proposals in 2017 UN rights review – CHR
Philippine Daily Inquirer, August 12, 2022
Gabriel Pabico Lalu
Only 12 percent of the 257 recommendations made by the United Nations (UN) in its 2017 Universal Periodic Review (UPR) were fully implemented by the administration of former president Rodrigo Duterte...
Tourism leaders to DOT: ‘Let’s keep having fun’
BusinessMirror, August 11, 2022
Ma. Stella F. Arnaldo
A number of tourism stakeholders want the Department of Tourism (DOT) to keep the country’s present branding as a “fun” destination, suggesting that a change in the slogan may not be warranted at this time...
Marcos: PHL to acquire next-gen vaccines to address emerging Covid-19 subvariants
BusinessMirror, August 11, 2022
Samuel P. Medenilla
The government is eyeing to procure new generation vaccines to address emerging subvariants of the severe acute respiratory syndrome coronavirus 2 (SAR-CoV-2), which cause novel coronavirus disease (Covid-19), President Ferdinand “Bongbong” R. Marcos Jr. said on Thursday...
DOH plans Omicron-adapted vaccine purchase
Philippine Star, August 12, 2022
Rhodina Villanueva
The Department of Health (DOH) has bared its plan to procure Omicron-adapted vaccines from other countries once these become available...
CHR seeks talks with presidential panel for UN review of PH rights pledges
Philippine Daily Inquirer, August 12, 2022
Gabriel Pabico Lalu
The Commission on Human Rights (CHR) has “reached out” to the Presidential Human Rights Committee (PHRC) in a bid to conduct dialogues with them for the impending United Nations (UN) review of the Philippines’ human rights pledges...
Language agency joins book purge, tags 5 ‘subversive’ works
Philippine Daily Inquirer, August 12, 2022
Jane Bautista
In a move denounced by artists and academics as signaling the “death of scholarship,” the Komisyon sa Wikang Filipino (KWF) ordered the pullout and stopped the publication of five books it deemed “subversive” for promoting “antigovernment ideologies.”...
GSIS allots P10 million for 25 adopted schools
Philippine Daily Inquirer, August 12, 2022
Ronnel W. Domingo
The Government Service Insurance System (GSIS) has earmarked a P10-million package for 25 schools that the state pension fund will help prepare for the resumption of full in-person classes in partnership with the Department of Education (DepEd) and the Adopt-A-School Program (ASP)...
BSP, PNP ramp up campaign vs counterfeiters
Philippine Daily Inquirer, August 12, 2022
Ronnel W. Domingo
The Bangko Sentral ng Pilipinas (BSP), working with the Philippine National Police, is stepping up the campaign against counterfeit money, whether Philippine or foreign currency...
PH lost P10B due to outdated metrology law – DoST
Philippine Daily Inquirer, August 11, 2022
Kaithreen Cruz
The Department of Science and Technology (DoST) claimed that the Philippine government lost around P10 billion in revenue due to poor market surveillance and enforcement of penalties to regulate measuring instruments, as the Metrology Act of 2003 was claimed to be "outdated."...
MMDA to deploy 581 enforcers in schools for face-to-face classes — Nebrija
GMA News, August 12, 2022
Joviland Rita
The Metropolitan Manila Development Authority (MMDA) will deploy 581 personnel in roads leading to and near public schools in light of the resumption of face-to-face classes, an official said Friday...
LTFRB looks at ‘balanced’ higher bus rates
Manila Standard, August 12, 2022
Rio N. Araja
The Land Transportation Franchising and Regulatory Board is keen on approving a petition to increase the fares for public utility buses amid the high prices of oil products after its second hearing on the issue on Thursday...
Marcos tells DTI to ensure cheap fertilizers for farmers
Manila Standard, August 12, 2022
President Ferdinand “Bongbong” Marcos Jr. has met with Department of Trade and Industry (DTI) Secretary Alfredo Pascual to set out plans to make fertilizers affordable for farmers and improve their productivity...
Palace: Anti-drugs drive will adhere to the rule of law
Manila Standard, August 11, 2022
Joel E. Zurbano
Malacanang gave assurance on Thursday that the Marcos administration would adhere to the rule of law while sustaining the campaign against illegal drugs...
NTC questions ABS-TV5 joint venture
Manila Standard, August 12, 2022
The National Telecommunications Commission (NTC) is set to review the deal that would allow ABS-CBN to broadcast its programs on TV5 following the former’s failure to renew its broadcasting franchise in 2020...
NCR construction retail price growth at 13-year high of 6.8%
BusinessWorld, August 11, 2022
Bernadette Therese M. Gadon
Retail price growth of construction materials in the National Capital Region (NCR) was 6.8% in the first half, the highest level in 13 years, the Philippine Statistics Authority (PSA) said...
No evidence riders get minimum wage through gig labor — report
BusinessWorld, August 11, 2022
Patricia B. Mirasol
Gig workers in the Philippines “face low pay and dangerous conditions,” according to a report that ranked nine of the most popular digital labor platforms in the country...
DoF aims to digitalize 50% of retail payments
The Manila Times, August 12, 2022
Tiziana Celine Piatos
The Department of Finance (DoF) wants to digitalize half of all retail payments and onboard 70 percent of the adult population into the formal financial system by 2023...
Banks' net income up amid decline in NPLs
The Manila Times, August 12, 2022
Mayvelin U. Caraballo
Philippine banks posted improved net income during the first half of the year on account of the decline in loan loss provisions for nonperforming loans (NPLs)...
Another oil price rollback likely as world economy further stalls
Manila Standard, August 12, 2022
Alena Mae S. Flores
Oil prices will likely go down effective Tuesday next week by as much as P2.85 per liter due to the continuing fears of a global economic slowdown...
P24 billion in agri loans extended
The Manila Times, August 12, 2022
Bella Cariaso
The Department of Agriculture (DA) said more than 408,000 farmers and fisherfolks benefited from the P24.09-billion loans released under the Agricultural Credit Policy Council (ACPC) program from 2019 to 2022...
Real estate rebound seen steady up to 2H
Daily Tribune, August 11, 2022
Raffy Ayeng
As the government gradually contains the Covid-19 contagion in most major cities, the domestic real estate space is showing signs of a steady rebound and is expected to maintain the trend in the second half...
PSEi up 3.23% as US inflation slows
The Manila Times, August 12, 2022
Ed Paolo Salting
The Philippine Stock Exchange index (PSEi) surged by 208.84 points, or 3.23 percent, on Thursday to close at 6,680.68, as US inflation settled at 8.5 percent in July...
DOLE, TESDA to help build skills workers need to thrive in gig economy, IT-BPM sector
BusinessMirror, August 11, 2022
Samuel P. Medenilla
The Labor department will develop skills training modules to meet the rapidly changing demand of the Information Technology and Business Process Management (IT-BPM) industry, gig economy and other sectors...