August 18, 2022
Rich-poor income gap slightly narrowed in 2021
Source BusinessWorld
All set for opening of in-person classes
Daily Tribune, August 18, 2022
Neil Alcober
More than 47,000 public schools nationwide are all set for the start of classes on Monday, 22 August amid the lingering threat of the dreaded coronavirus disease, the Department of Education said on Wednesday...
NEDA confident on poverty reduction
The Manila Times, August 18, 2022
Eireene Jairee Gomez
The National Economic and Development Authority (NEDA) is confident that the Philippines can reduce poverty by at least 9 percentage points by the end of the Marcos administration in 2028, as the government aggressively pushes for economic recovery...
Marcos to extend state of public health emergency
The Manila Times, August 18, 2022
Catherine S. Valente and Red Mendoza
President Ferdinand "Bongbong" Marcos Jr. is likely to extend the state of public health emergency because of the Covid-19 pandemic until December...
Palace readies P5.268-trillion national budget for OK
Manila Standard, August 18, 2022
The Department of Budget and Management will be submitting the Marcos administration’s first spending plan to Congress on Monday...
Citing ripple effects, export bloc seeks RCEP ratification
BusinessMirror, August 17, 2022
Andrea E. San Juan
Philippine Exporters Con-federation, Inc. (Philexport) has again called on the Senate to ratify the Regional Comprehensive Economic Partnership (RCEP)...
Galvez: 8,000 to 10,000 communist rebels ready to avail of proposed amnesty
BusinessMirror, August 17, 2022
Samuel P. Medenilla
Around 8,000 to 10,000 communists rebels are now ready to lay down their arms if given amnesty, according to the Office of Presidential Adviser on Peace Process, Reconciliation and Unity (OPAPRU)...
Marcos OK’s review of BOT Law rules
BusinessWorld, August 18, 2022
Diego Gabriel C. Robles
The National Economic and Development Authority (NEDA) has been directed by President Ferdinand R. Marcos, Jr. to review certain provisions of the revised rules of the Build-Operate-Transfer (BOT) Law...
Bill on ease of paying taxes hurdles House committee
BusinessWorld, August 17, 2022
Matthew Carl L. Montecillo
A measure seeking to ease the process of paying taxes has been passed at the House Committee on Ways and Means...
House OKs bill imposing P20-per-kg tax on single-use plastics
Philippine Daily Inquirer, August 18, 2022
Gabriel Pabico Lalu
The House of Representatives Committee on Ways and Means has approved bills proposing a P20 per kilogram excise tax on single-use plastics, although there was concern that the burden would be passed on to consumers...
House panel OKs tax on plastics, e-commerce
BusinessMirror, August 17, 2022
Jovee Marie De La Cruz
Proposals to apply value-added tax (VAT) on the use of digital platforms, to impose excise tax on plastic bags and to simplify tax payments were approved by the House Committee on Ways and Means on Wednesday...
BSP not keen on penalizing bank lending to GHG emitters
BusinessMirror, August 17, 2022
Bianca Cuaresma
The Bangko Sentral ng Pilipinas (BSP) is not keen on implementing penalties for banks that are lending to activities that emit greenhouse gases...
House panel OKs bill enabling VAT collection from nonresident digital service providers
The Manila Times, August 17, 2022
Ma. Reina Leanne Tolentino
The House of Representatives's tax committee has approved a bill that will enable the Philippines to collect value-added tax (VAT) from nonresident digital service providers...
LTFRB adds routes, issues permits to more public vehicles for school reopening
BusinessWorld, August 17, 2022
Arjay L. Balinbin
The Land Transportation Franchising and Regulatory Board (LTFRB) announced on Wednesday that it will open more routes and allow more public utility vehicles (PUVs) to operate in the capital region in preparation for the resumption of face-to-face classes...
LTO working group to craft guidelines on 'no contact, no apprehension policy'
The Manila Times, August 17, 2022
Franco Jose C. Baroña
The Land Transportation Office (LTO) has formed a Technical Working Group that will sit down and discuss with local government units (LGUs) and the Metropolitan Manila Development Authority (MMDA) possible proposals in relation to the crafting of the No Contact Apprehension Policy (NCAP) guidelines that is fair and acceptable to all stakeholders...
Padilla files bill protecting Pinoys vs. discrimination
Manila Standard, August 17, 2022
Macon Ramos-Araneta
Muslims and other groups will soon be protected against discrimination if a bill filed by Sen. Robinhood “Robin” C. Padilla is passed into law. In filing Senate Bill 233, Padilla stressed the need to protect the rights of all Filipinos, adding there is no room for discrimination on the basis of race, religion or being formerly incarcerated persons...
MMDA to start apprehending number coding violators
BusinessMirror, August 17, 2022
Claudeth Mocon-Ciriaco
After a three-day dry run, the Metropolitan Manila Development Authority (MMDA) warned motorists that its traffic enforcers will start apprehending violators of the expanded Unified Vehicular Volume Reduction Program (UVVRP) or number coding scheme tomorrow, August 18...
Lawmaker seeks unemployment insurance for workers
ABS-CBN News, August 18, 2022
A lawmaker has filed a bill seeking unemployment insurance for displaced workers...
Solon slams 'anti-poor' proposal to tax ukay-ukay, warns repeal of law to lead to 'unlimited' imports
CNN Philippines, August 17, 2022
CNN Philippines Staff
A lawmaker opposed Wednesday the proposal to slap taxes on secondhand clothes or ukay-ukay once legalized, citing its possible impact on buyers and sellers alike...
More Filipino consumers using business messaging platforms
BusinessWorld, August 18, 2022
Patricia B. Mirasol
More Filipino consumers are using online messaging platforms to reach businesses, with firms also recognizing the importance of engaging with customers, a study showed...
Big data to unlock $100 billion for SEA states
BusinessMirror, August 17, 2022
Cai Ordinario
Investing in big data would create $100 billion worth of value for Southeast Asian countries, including the Philippines, according to the latest report from the Asian Development Bank (ADB)...
UK to grant duty-free access on PH exports
Manila Bulletin, August 17, 2022
Bernie Cahiles-Magkilat
The Philippines will be eligible for duty free access for over 99 percent of total exported goods (by value) to the United Kingdom (UK), saving around £21 million of tariffs each year, through the British’s new Developing Countries Trading Scheme (DCTS)...
Metro Manila’s 5G internet speed 4th worst in AsPac
Philippine Star, August 18, 2022
Elijah Felice Rosales
Metro Manila has posted the fourth worst 5G speed among 11 Asia-Pacific cities, ranking behind its regional peers in terms of quality of video and gaming experience...
NATO ready to step up forces if Serbia-Kosovo tensions escalate
Philippine Daily Inquirer, August 18, 2022
Reuters
NATO will increase its peacekeeping force in Kosovo if there is an escalation of tensions with neighboring Serbia, the alliance’s chief said on Wednesday on the eve of EU-facilitated talks between the estranged western Balkan neighbors...
Ukraine carries out emergency drills near nuclear plant on frontline
Philippine Daily Inquirer, August 18, 2022
Reuters
Ukrainian authorities performed disaster response drills on Wednesday following repeated shelling at the Russian-occupied Zaporizhzhia nuclear power plant, the largest of its kind in Europe...
WHO wants monkeypox renamed; any suggestions?
Philippine Daily Inquirer, August 18, 2022
Agence France-Presse
The World Health Organization (WHO), which is looking to rename monkeypox, called on Tuesday for help from the public in coming up with a less stigmatizing designation for the fast-spreading disease...
Studies to see if mutations behind monkeypox spread — WHO
Philippine Star, August 18, 2022
Robin Millard, Agence France-Presse
Studies are under way to see whether genetic changes in the monkeypox virus are driving the rapid spread of the disease, the World Health Organization told AFP on Wednesday...
WHO urges caution after dog catches monkeypox
Philippine Star, August 18, 2022
Nina Larson, Agence France-Presse
The World Health Organization called Wednesday for people infected with monkeypox to avoid exposing animals to the virus following a first reported case of human-to-dog transmission...
More Japanese firms raising wages to combat labor shortage – Reuters poll
Philippine Daily Inquirer, August 18, 2022
Tetsushi Kajimoto
More large Japanese companies are now raising wages to attract workers and cope with chronic staff shortages, a monthly Reuters poll showed on Thursday, a tentative sign Japan Inc may be slowly addressing pay that has been flat for decades...
Australia eyes foreign workers to help ease labor shortage
The Manila Times, August 18, 2022
Xinhua News Agency
Australia's top union body on Wednesday added its voice to calls on raising the island continent's cap on overseas workers to help address its widespread labor shortages...
'South Korea won't seek own nuclear deterrent'
The Manila Times, August 18, 2022
Associated Press
South Korean President Yoon Suk Yeol said on Wednesday his government had no plan to pursue its own nuclear deterrent in the face of North Korea's growing nuclear weapons capabilities, even as Pyongyang fired two suspected cruise missiles toward the sea in its latest display of an expanding arsenal...
Taiwan shows off most advanced fighter jet after China drills
ABS-CBN News, August 18, 2022
Agence France-Presse
Taiwan displayed on Wednesday its most advanced fighter jet, the missile-equipped F-16V, in a rare nighttime demonstration in the wake of China's unprecedented military drills around the island...
Taiwan envoy to US says China bullying spurs foreign interest in visits to island
GMA News, August 18, 2022
Michael Martina, Reuters
China's aggressive military response to US House Speaker Nancy Pelosi's visit to Taiwan has increased interest from other countries' parliaments in similar trips, the island's de facto ambassador to the United States said on Wednesday...
North Korea fires two cruise missiles – Seoul
The Manila Times, August 17, 2022
Agence France-Presse
North Korea fired two cruise missiles Wednesday, Seoul's defense ministry said, ending a month-long lull in Pyongyang's record-breaking spate of weapons tests this year...
UK disputes lack of access to EU science research programs
The Manila Times, August 17, 2022
Agence France-Presse
Britain has launched dispute procedures with the European Union over its exclusion from the bloc's scientific research programs, using a mechanism set out in a post-Brexit deal...
SRA faces overhaul after import mess
BusinessWorld, August 18, 2022
Kyle Aristophere T. Atienza and Luisa Maria Jacinta C. Jocson
President Ferdinand R. Marcos, Jr. on Wednesday said the Sugar Regulatory Administration (SRA) will be reorganized, following the resignation of key officials who signed a sugar importation order without his approval...
Gov’t ‘working on’ sovereign rating upgrade, Diokno says
BusinessWorld, August 17, 2022
Diego Gabriel C. Robles
The Philippines’ credit rating is not expected to worsen, with officials presenting the case to the rating agencies for an upgrade because of the attainability of the country’s growth targets, the Department of Finance (DoF) said in a statement on Wednesday...
Bongbong Marcos: SRA revamp up; ‘let’s import’ sugar if needed
Philippine Daily Inquirer, August 18, 2022
Carla P. Gomez, Nestor Corrales
President Ferdinand Marcos Jr. said on Wednesday he would reorganize the Sugar Regulatory Administration (SRA) following the fiasco caused by the unauthorized approval of an order to import 300,000 metric tons (MT) of sugar...
LTO must explain P3.15-billion IT system blamed for delays
Philippine Daily Inquirer, August 18, 2022
Melvin Gascon
The Land Transportation Office (LTO) must be made to explain why it paid P3.15 billion in full to four companies for its new online licensing and registration portal despite a number of defects that generated “massive disruptions” in the system, Senate Minority Leader Aquilino “Koko” Pimentel III said on Wednesday...
BBM reviews water management proposal
The Manila Times, August 18, 2022
Kristina Maralit
President Ferdinand "Bongbong" Marcos Jr. is reviewing a proposal to establish an Integrated Water Resources Management (IWRM) Program that seeks to balance the country's economic, social and environmental sustainability...
PopCom: PH has little time to address aging population
Philippine Daily Inquirer, August 18, 2022
The government should start investing on long-term programs to manage the increasing number of senior citizens in the country, particularly on health-care and employment opportunities, the Commission on Population and Development (Popcom) executive director said on Wednesday...
‘High-risk’ warning prompts DoT to tout safety measures at destinations
BusinessWorld, August 17, 2022
Revin Mikhael D. Ochave
The Department of Tourism (DoT) said health protocols remain in force at all destinations after the Philippines was classified as a “high-risk” country for the coronavirus by the US Centers for Disease Control and Prevention (CDC)...
Marcos to let Congress probe sugar import mess
The Manila Times, August 17, 2022
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. on Wednesday said he would leave Congress to investigate the Sugar Regulatory Administration's (SRA) supposed approval of the importation of 300,000 metric tons of sugar, which he nullified...
Group to DTI: Inspect sugar warehouses
The Manila Times, August 18, 2022
Bella Cariaso and Catherine S. Valente
United Sugar Producers Federation President Manuel Lamata on Wednesday urged the Department of Trade and Industry (DTI) to tap members of the National Bureau of Investigation in the inspection of warehouses of sugar amid reports of hoarding of the sweetener...
Philippines eyes ‘world-class’ top-security prison
BusinessWorld, August 17, 2022
John Victor D. Ordoñez
The Philippine Department of Justice (DoJ) on Wednesday said it is considering building a modern maximum-security prison for heinous crime convicts in a country known for having the world’s most crowded jails...
DOH: Omicron-specific vax in Philippines next year
Philippine Star, August 18, 2022
Mayen Jaymalin
New Omicron-specific vaccines may become available in the country beginning early next year, the Department of Health (DOH) said yesterday...
3.6 million Pinoys battling mental health issues amid pandemic
BusinessMirror, August 17, 2022
Claudeth Mocon-Ciriaco
A recent study conducted by the Department of Health (DOH) has indicated that around 3.6 million Filipinos found themselves battling mental disorders during the pandemic...
Maguindanao split plebiscite set for vote on Sept. 17
Philippine Daily Inquirer, August 18, 2022
Edwin O. Fernandez
The Commission on Elections (Comelec) has set Sept. 17 as the schedule for a plebiscite to decide on the question of splitting Maguindanao into two provinces...
DOH says COVID-19 cases plateauing, but public shouldn’t be ‘complacent’
Philippine Daily Inquirer, August 17, 2022
Zacarian Sarao
The number of COVID-19 cases in the country has begun to plateau, said Department of Health (DOH) officer-in-charge Maria Rosario Vergeire on Wednesday, but warned the public not to be “complacent.”...
Full cash-based budgeting by 2025, DBM chief vows
BusinessMirror, August 17, 2022
Bernadette D. Nicolas
The Department of Budget and Management (DBM) said it is eyeing full implementation of the cash-based budgeting system (CBS) for the whole government by 2025...
PH almost bird flu-free, says DA
Philippine Daily Inquirer, August 18, 2022
Jordeene B. Lagare
The Department of Agriculture (DA) is getting ready to wrap up its campaign against avian influenza as the downtrend in the number of active cases continues, with only two regions — Cordillera Administrative Region and Central Luzon — still affected by the disease...
BTA vows to have Bangsamoro election code within the year
BusinessWorld, August 17, 2022
Kyle Aristophere T. Atienza
The Bangsamoro Transition Authority (BTA) is aiming to finalize the autonomous region’s election code this year, a key legislation for the holding of its first general elections in 2025, the national government said on Wednesday...
‘NCAP breaches due process, data privacy’
BusinessMirror, August 17, 2022
Joel R. San Juan
A lawyer has joined several transport groups in petitioning the Supreme Court to declare as unconstitutional the no-contact apprehension policy (NCAP) being implemented by several local government units (LGUs) in Metro Manila...
DOTr to DepEd, CHEd: Provide bike racks, sheds to students to promote active mobility
Philippine Daily Inquirer, August 17, 2022
Zacarian Gavin H. Sarao
The Department of Transportation (DOTr) on Wednesday urged both the Department of Education (DepED) and the Commission on Higher Education (CHED) to establish End-of-Trip (EoT) facilities in educational institutions to promote active mobility, especially amid the foreseen increase in traffic and passenger volume...
DHSUD ordered to build 1m housing units yearly
Manila Standard, August 18, 2022
Macon Ramos-Araneta
President Ferdinand Marcos Jr. has directed the Department of Human Settlements and Urban Development to build one million housing units a year, Secretary Jose Rizalino Acuzar told the Senate on Wednesday...
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BSP hints at possible rate hikes until 2023
The Manila Times, August 18, 2022
Tiziana Celine Piatos
Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla hinted at the possibility of additional rate hikes up until 2023...
Govt aims for 'robust' economy
The Manila Times, August 18, 2022
Tiziana Celine Piatos
Finance Secretary Benjamin Diokno said the country's gross domestic product (GDP) growth in the second quarter of this year proves that the Philippine economy is moving steadily toward a robust resurgence and expansion...
BSP chief more hawkish amid stubborn inflation
Philippine Daily Inquirer, August 18, 2022
Ronnel W. Domingo
The expected increase in the policy rate of the Bangko Sentral ng Pilipinas (BSP), on which the Monetary Board (MB) is scheduled to decide today, will be an easy decision to make and is expected to be followed by more, considering the continued need to bring down inflation, according to BSP Governor Felipe Medalla...
PH trek to high income status to be delayed
Philippine Daily Inquirer, August 18, 2022
Ben O. de Vera
Despite a looming delay in the Philippines’ rise to high income status, the Marcos administration’s goal to slash poverty to a record low of 9 percent is attainable, the country’s chief economist said on Wednesday...
Port passenger volume up 144% in first half; cargo down
BusinessWorld, August 17, 2022
Arjay L. Balinbin
The Philippine Ports Authority (PPA) said on Wednesday that passengers using its facilities in the first half rose by 144% with the resumption of domestic tourism, trade, and regular travel activity...
Economic team: Sugar mess to weigh on poor
BusinessWorld, August 17, 2022
The economic team has expressed concern that the country’s sugar situation could spill over to the informal economy and hurt the poor even more, according to the National Economic and Development Authority (Neda)...
Child population seen to dip, seniors to increase in next 20 years–Popcom
BusinessMirror, August 17, 2022
Cai Ordinario
In less than two decades, the number of seniors in the Philippines will reach 14 percent of the population marking the transformation of the country to an aging society, according to the Commission on Population and Development (Popcom)...
Investors turn cautious ahead of BSP policy meeting
Philippine Daily Inquirer, August 18, 2022
Miguel R. Camus
Cautious investors spoiled a seven-day winning streak for the benchmark Philippine Stock Exchange Index (PSEi) as they pocketed profits ahead of an expected key interest rate hike by the Bangko Sentral ng Pilipinas (BSP)...
Port activities moving back to prepandemic vibrancy–regulator
Philippine Daily Inquirer, August 18, 2022
Tyrone Jasper C. Piad
The Philippine Ports Authority (PPA) saw its net income rise by 9 percent in the first half on the back of better revenues from concession and storage fees, among others...
Stocks succumb to profit taking
Philippine Star, August 18, 2022
Iris Gonzales
Share prices fell yesterday, ending seven straight sessions in the green, as investors remained cautious and took profits ahead of a widely expected rate hike by the Bangko Sentral ng Pilipinas (BSP)...
Government to lose billions in tax income from softdrinks
Manila Standard, August 18, 2022
Julito G. Rada
Economic managers said Wednesday that the sugar supply shortage in the country could affect the economy’s recovery from the pandemic...