August 2, 2022
Get lost, ICC
Source Daily Tribune
BBM says Phl won’t rejoin ICC
Daily Tribune, August 2, 2022
Michelle R. Guillang
President Ferdinand “Bongbong” Marcos Jr. announced on Monday that the Philippines will not rejoin the International Criminal Court (ICC) amid the tribunal’s continuing investigation into the six-year war on drugs of the administration of former President Rodrigo Duterte...
PHL factory activity slows in July
BusinessWorld, August 2, 2022
K.B.Ta-asan
The Philippines’ manufacturing sector slowed in July as production and new orders declined, signaling weaker global demand, S&P Global said on Monday...
Rate hikes favorable for Philippine banks, says Fitch
Philippine Star, August 2, 2022
Lawrence Agcaoili
The current monetary policy tightening cycle in Asia-Pacific is favorable for Philippine banks, but is not expected to result in a significant decline in credit growth and asset quality, according to Fitch Ratings...
NEDA lists growth drivers
The Manila Times, August 2, 2022
Mayvelin U. Caraballo
The National Economic and Development Authority (NEDA) said digitalization and other conventional sectors will continue to create employment and drive the Philippine economy going forward...
DepEd is ‘all set’ to open schools on Aug. 22 — Duterte
Manila Bulletin, August 1, 2022
Merlina Hernando-Malipot
Three weeks before classes for School Year (SY) 2022-2023 formally start, the Department of Education (DepEd) expressed readiness to open its schools nationwide...
DepEd needs P18B to get out of ‘quicksand,’ says VP
BusinessMirror, August 1, 2022
Claudeth Mocon-Ciriaco
“We are in a quicksand.” This was how Vice President and Education Secretary Sara Duterte described the situation of the Department of Education (DepEd) following the destruction brought about by Typhoon “Odette” last year—from which the school system has yet to recover—and the magnitude 7 earthquake that hit northern Luzon recently...
Bill requires parking space before vehicle registration
Philippine Daily Inquirer, August 2, 2022
Jeannette I. Andrade
Marinduque Rep. Lord Allan Jay Velasco wants car buyers in the country’s urban hubs to have their own parking spaces before they can register their vehicles with the Land Transportation Office (LTO)...
Suspension of tax audit: The pros and cons
Philippine Star, August 2, 2022
Shirley Cada
A tax audit is an examination of the taxpayer’s compliance with the tax system. It is defined as the verification and accuracy of income and deductions declared by the taxpayer. During tax audit, examinations and investigations on books and documents of the taxpayer are conducted to find and correct, if any, errors, fraud, and deficiencies...
BSP to cut reserves ratio in Dec.
Manila Bulletin, August 1, 2022
Lee C. Chipongian
The Bangko Sentral ng Pilipinas (BSP) will likely reduce banks’ reserve requirement ratio (RRR) in December, not earlier, according to BSP Governor Felipe M. Medalla...
Solo parent-like perks for single persons with dependents sought in House
Philippine Daily Inquirer, August 1, 2022
Gabriel Pabico Lalu
Single or unmarried persons with dependents may enjoy some of the benefits given to a single parent under Republic Act No. 11861 or the Expanded Solo Parents Welfare Act, if a bill filed at the House of Representatives is enacted...
House OKs reso backing admin’s Medium-Term Fiscal Framework
Philippine Daily Inquirer, August 1, 2022
Gabriel Pabico Lalu
The House of Representatives has adopted a concurrent resolution expressing support for the administration’s Medium-Term Fiscal Framework (MTFF), despite some lawmakers questioning why the chamber even needs the said resolution...
Villar files bill placing Philippine Rise management under NIPAS program
Manila Standard, August 1, 2022
Macon Ramos-Araneta
Senator Cynthia A. Villar wants to place the Philippine Rise Marine Resource Reserve (PMRR) under the government’s National Integrated Protected Areas System (NIPAS)...
Conjoined twins separated with help of virtual reality in Brazil
ABS-CBN News, August 2, 2022
Agence France-Presse
Conjoined twins born in Brazil with a fused head and brain have been separated in what doctors described Monday as the most complex surgery of its kind, which they prepared for using virtual reality...
Giant taro can be food source, researchers say
Manila Standard, August 1, 2022
Butch Gunio
Initial findings of two ongoing Giant Swamp Taro (GST) projects show GST’s potential as a source of supplemental food in Agusan del Sur...
Tourism recovery in Asia-Pacific seen lagging other regions in 2022
BusinessWorld, August 1, 2022
Revin Mikhael D. Ochave
Tourist arrivals in the Asia and the Pacific (APAC) are expected to lag the recovery posted by other regions, with travelers still deterred by the frictions associated with international travel, according to the United Nations World Tourism Organization (UNWTO)...
Take DNA test, Sulu heirs urged
Daily Tribune, August 2, 2022
Perseus Echeminada
Even before negotiations with Malaysia had started, several individuals who are seeking a share in the $14.9 billion breakthrough award of the French arbitral court have surfaced...
Foreign tourists warned on fake OHP site charging $75
BusinessMirror, August 1, 2022
Ma. Stella F. Arnaldo
A private tourism group is reminding tourists that registering via One Health Pass (OHP) to enter the Philippines is totally free of charge...
UN chief warns of 'nuclear annihilation'
Philippine Star, August 2, 2022
Agence France-Presse
ASEAN Audit Regulators to raise the bar for audit quality
Manila Bulletin, August 1, 2022
James A. Loyola
The ASEAN Audit Regulators Group (AARG) has reaffirmed its commitment to raising the bar for audit quality amid the challenges faced by the region today...
Pelosi set to visit Taiwan despite China warnings, sources say
Philippine Daily Inquirer, August 2, 2022
Reuters
U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it wouldn’t be intimidated by Chinese threats to never “sit idly by” if she made the trip to the self-ruled island claimed by Beijing...
US looking to China not to escalate tensions in event of Pelosi visit to Taiwan — Blinken
Philippine Daily Inquirer, August 2, 2022
Reuters
U.S. Secretary of State Antony Blinken said on Monday that a potential visit to Taiwan by House of Representatives Speaker Nancy Pelosi would be entirely her decision, but called on China not to escalate tensions in the event of a visit...
Factories squeezed by higher prices, weak demand
Philippine Daily Inquirer, August 1, 2022
Jonathan Cable, Sam Holmes
Factories across Asia and Europe struggled for momentum in July as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, likely adding to fears of economies sliding into recession...
Oil outshines stocks and dollar in 2022
GMA News, August 2, 2022
Ahmad Ghaddar, Agence Presce Presse
Oil prices are proving resilient to global economic recession fears and have outperformed major equity indices and the US dollar so far this year as Western sanctions on Russia further limit supplies to an already tight market...
ASEAN targets new progress in South China Sea code by yearend —draft communique
GMA News, August 1, 2022
Michaela Del Callar
The Association of Southeast Asian Nations is targeting new progress this year in the completion of a much delayed code of conduct with China to prevent armed confrontations in the disputed South China Sea, according to a draft communique of the group seen Monday by GMA News Online...
US kills al Qaeda leader Ayman al-Zawahiri in drone strike in Afghanistan
CNN Philippines, August 2, 2022
Kevin Liptak, Kylie Atwood, Natasha Bertrand and Donald Judd, CNN
The United States killed al Qaeda leader Ayman al-Zawahiri in a drone strike, according to multiple sources familiar with the matter...
US unveils new sanctions targeting 'illicit' support for Iranian oil industry
CNN Philippines, August 2, 2022
Jennifer Hansler, CNN
The United States on Monday unveiled a new tranche of sanctions targeting "illicit" support for the Iranian oil industry as prospects for reviving the Iran nuclear deal continue to dim...
Oil drops as China slowdown spurs concern over demand
BusinessMirror, August 1, 2022
Bloomberg News
Oil fell as the week’s trading kicked off, after poor Chinese economic data added to concerns that a global slowdown may sap demand...
OPEC+ walks ‘fine line’ between US and Russia
Manila Standard, August 1, 2022
Agence France-Presse
The OPEC+ group of oil exporters are set to hammer out a new strategy at their meeting Wednesday, with all eyes on how they will react to soaring crude prices...
Australia considers curbing gas exports to avert domestic supply crunch
Philippine Daily Inquirer, August 1, 2022
Renju Jose, Sonali Paul
Australia said on Monday it will decide whether to curb exports of liquefied natural gas (LNG) after a watchdog urged restrictions, warning one of the world’s biggest suppliers of the fuel could face a shortfall and soaring prices next year...
U.S. and Japan pursue commercial diplomacy to counter China, envoy to Tokyo says
Philippine Daily Inquirer, August 1, 2022
David Dolan, Yukiko Toyoda, Reuters
Chips, batteries and energy are key collaboration areas between the United States and Japan as the allies seek to secure supply chains and counter China, Washington’s envoy to Tokyo said...
Peru registers first death of monkeypox patient
ABS-CBN News, August 2, 2022
Agence France-Presse
Peru on Monday recorded its first death of a monkeypox-infected person, with more than 300 cases reported in the country to date, a health official said...
India confirms Asia’s first monkeypox death
Rappler, August 1, 2022
Reuters
India confirmed its first monkeypox death on Monday, August 1, a young man in the southern state of Kerala, in what is only the fourth known fatality from the disease in the current outbreak...
Sudan's military leaders launch 'manhunt' for suspected sources after CNN gold investigation sparks protests
CNN Philippines, August 1, 2022
Nima Elbagir, CNN
Sudan's military authorities have launched a "manhunt" for people suspected of providing information to CNN for an investigation that exposed Russia's plundering of gold in the African nation, according to multiple former and current officials...
Cognitive decline linked to ultraprocessed food, study finds
CNN Philippines, August 1, 2022
Sandee LaMotte, CNN
Eating ultraprocessed foods for more than 20% of your daily calorie intake every day could set you on the road to cognitive decline, a new study revealed...
Business chambers call for COVID-19 lessons to be applied to managing monkeypox
BusinessWorld, August 1, 2022
Revin Mikhael D. Ochave
Business leaders expressed the hope that a possible monkeypox outbreak will be managed by a government now well-versed in what measures proved effective in containing the coronavirus...
BM releases rice farmer subsidy of over P8 billion
BusinessWorld, August 1, 2022
Keisha B. Ta-asan
The Department of Budget and Management (DBM) said it released P8.05 billion worth of subsidies for rice farmers for distribution in the third and fourth quarters...
COVID-19 cases hit nearly 3,500 daily
Philippine Daily Inquirer, August 2, 2022
Dona Z. Pazzibugan
With the steady increase in COVID-19 cases nationwide now averaging nearly 3,500 daily, the hospital bed utilization rate has also risen to almost 30 percent...
CHEd flagged for failed IT development plan for SUCs
Philippine Daily Inquirer, August 2, 2022
Julie M. Aurelio
The Commission on Higher Education (CHEd) failed to implement the Smart Campus Development Program due to the six months it spent vetting and approving proposals, the Commission on Audit (COA) said in a 2021 report...
5.2 quake strikes Abra anew; More shocks expected
Manila Standard, August 2, 2022
Willie Casas
A magnitude 5.2 earthquake hit Abra at 2:48 a.m. on Monday, five days after it was hit by a deadly 7.0-magnitude quake last Wednesday that damaged structures in the region and killed at least 10 people...
PBBM: Give cash, not tax exemption to poll workers
Manila Standard, August 1, 2022
Vito Barcelo and Willie Casas
President Ferdinand “Bongbong” Marcos Jr. prefers to provide cash payments to election workers rather than exempt their honoraria and other financial benefits from taxes...
Cordillera, Ilocos regions need at least P1B to restore damaged infra
Philippine Daily Inquirer, August 2, 2022
Vincent Cabreza and John Michael Mugas
Abra province and a number of localities in the Cordillera and Ilocos regions devastated by the magnitude 7 earthquake would need at least P1 billion to rebuild or repair damaged infrastructure, including public schools and hospitals, as these areas continued to cope with strong aftershocks...
Parents, teachers prepare schools for kids’ return
Philippine Daily Inquirer, August 2, 2022
Jane Bautista
Chlarise Mae delos Santos was tidying up the classroom as she waited for her husband, an electrician, who took a half day off work to help paint walls and fix electrical wiring at Aurora A. Quezon Elementary School in Manila on Monday...
Quake damaged P243.33-M worth of irrigation projects - NIA
The Manila Times, August 1, 2022
Bella Cariaso
The powerful quake that jolted Abra and other provinces in northern Luzon damaged irrigation systems, the National Irrigation Administration (NIA) said on Monday...
Allocate P1.5t for 3-year infra projects — solon
Manila Standard, August 1, 2022
Maricel Cruz
A legislator from the Bicol region on Monday urged the Marcos administration to allocate P500 billion annually for the next three years on infrastructure projects to boost the economy and create millions of job opportunities...
Marcos names his military and national police chiefs
BusinessWorld, August 1, 2022
Kyle Aristophere T. Atienza
President Ferdinand R. Marcos, Jr. has appointed a military commander assigned on Luzon island to head the Armed Forces, the presidential palace said on Monday...
Marcos declares 10 days’ national mourning for FVR
BusinessMirror, August 1, 2022
Samuel P. Medenilla and Butch Fernandez
President Ferdinand “Bongbong” Marcos Jr. declared a 10-day national mourning over the passing of former President Fidel V. Ramos...
House affirms intent to use medium-term fiscal plan
BusinessMirror, August 1, 2022
Jovee Marie De La Cruz
The House of Representatives on Monday adopted a resolution institutionalizing the 2022-2028 Medium-Term Fiscal Framework (MTFF) of the national government to maximize the government’s fiscal resources...
NIA: No damage to Pantabangan, Magat despite quake
BusinessMirror, August 1, 2022
The two major dams in Luzon, the 48-year-old Pantabangan Dam in Pantabangan Nueva Ecija and the 39-year-old Magat Dam in Ramon, Isabela, were undamaged by the July 27 Magnitude 7.0 Earthquake in Tayum, Abra, the National Irrigation Authority (NIA) said on Monday. This attests, it added, to the structural integrity of NIA dams which can stand 50 years and even beyond a half century...
40k voluntarily withdraw from 4Ps
GMA News, August 1, 2022
Around 40,000 recipients of the government’s Pantawid Pamilyang Pilipino Program (4Ps) have voluntarily asked to be removed from the program amid the ongoing review of its list of beneficiaries...
Marcos: Monkeypox not as scary as COVID-19
CNN Philippines, August 1, 2022
CNN Philippines Staff
Following the confirmation of the country’s first monkeypox case, President Ferdinand “Bongbong” Marcos Jr. allayed fears by saying it is not at as fearsome as COVID-19...
Philippine esports can be a game changer, experts say
BusinessWorld, August 2, 2022
John Victor D. Ordoñez
Twenty-three-year-old Kendrick L. Cheah, one of the top Super Smash Bros. Ultimate players in the Philippines, has shown that video games aren’t just a child’s pastime anymore...
Rising rates put more pressure on consumers, SMEs — Fitch
BusinessWorld, August 2, 2022
KBT
Rising interest rates will put more pressure on consumers and small businesses in the Philippines, as many are still recovering from the economic shock brought by the coronavirus pandemic, Fitch Ratings said...
Stocks pull back as investors take wait-and-see stance
Philippine Star, August 2, 2022
Iris Gonzales
The Philippine stock market opened the week on a listless note as investors opted to adopt a wait-and-see stance on the absence of positive catalysts...
Losing investors ready to deploy more money in stock market gamble
Philippine Daily Inquirer, August 2, 2022
Miguel R. Camus
Philippine equity investors are preparing to average down in the coming months as weak sentiments weigh on the second-worst performing stock market in the region, according to top online broker COL Financial Group Inc...
BOC tax take soared to P84B in July
Philippine Daily Inquirer, August 2, 2022
Ronnel W. Domingo
Customs collections reached P84 billion in July, the highest in a single month for the Bureau of Customs (BOC), preliminary data show...
‘Give MSMEs interest-free, no-collateral loans’
BusinessMirror, August 1, 2022
Andrea E. San Juan
Merchants driving the economy could further boost growth if given interest-free and no-collateral loans, an official of the umbrella organization of employers in the country said.