Source BusinessMirror

The Philippine economy may underperform the Marcos administration’s growth ambition this year and next year due to narrowing headroom to counter intensifying external headwinds that keep food and fuel prices high and bring recession risks to major trading partners...

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The Marcos administration may consider another round of annual salary increases for government employees starting 2024 as the scope of the Salary Standardization Law (SSL) is only until 2023, the economic managers said...

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The Marcos administration’s chief economic manager on Monday said there would be no more “ayuda” or doleouts related to the COVID-19 pandemic to be funded by the proposed P5.268-trillion 2023 national budget...

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Another round of jeepney fare hikes is due by September, the Land Transportation Franchising and Regulatory Board (LTFRB) said, as it prepares to decide on a petition by jeepney drivers’ groups to raise anew the minimum fare after the P11 approved in July...

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A rapid rise in inflation may raise borrowers’ default risks in the Philippines, according to Moody’s Investors Service...

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As colleges and universities start to transition to in-person classes, the University of the Philippines (UP) on Monday lifted the rules and policies the university implemented due to the COVID-19 pandemic, including the no-fail policy...

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The Philippine Chamber of Commerce and Industry (PCCI) is counting on the House of Representatives to pursue the enactment of business-friendly measures crucial to recovery efforts, jobs creation and the long-term progress of the economy, including the amendment of the Magna Carta for micro, small, and medium enterprises (MSMEs)...

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Former rotary governor and Occidental Mindoro Rep. Leody "Odie" Tarriela submitted a bill that aims to promote and incentivize corporate social responsibility (CSR), which calls on businesses to include social and environmental concerns into their operational processes...

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An agricultural group on Monday urged Congress to repeal Republic Act 8172, or the Act for Salt Iodization Nationwide (ASIN) law to revive the local salt industry...

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Four Camarines Sur lawmakers made a stronger push for the prompt congressional approval of a measure they believe would enable roughly 10 million to 34 million unbanked Filipinos—many in faraway barrios without any banking presence—to finally open their own bank accounts...

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With the gradual resumption of face-to-face classes, lawmakers have proposed the grant of a tax-exempt P2,000 allowance per month within the school year for every public school teacher to cover expenses for teaching supplies and materials...

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Amendments to the controversial implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law are expected to be released before the end of September, Finance Secretary Benjamin E. Diokno said...

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The Philippine Chamber of Commerce and Industry (PCCI) on Monday said House Speaker Ferdinand Martin G. Romualdez has committed to having at least five measures in the business group’s wish list enacted in the next three years...

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Taxi operators said they are awaiting a decision from the Land Transportation Franchising and Regulatory Board (LTFRB) on their petition to increase the flag-down rate to P60 from the current P40...

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Export commitments to the United States under the Tariff Rate Quota system will not be given priority over domestic requirements under Sugar Order 1 that the new Sugar Regulatory Administration leadership has drafted...

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Following the decision Commission on the Filipino Language or Komisyon sa Wikang Filipino (KWF), the Department of Education (DepEd) directed public and private schools nationwide to stop using “Filipinas” in the teaching and learning process...

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Senator Jinggoy Ejercito Estrada is seeking to increase the disability pensions of military veterans to help them shoulder their medical and other pressing needs...

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The Department of Science and Technology Philippine Council for Health Research and Development (DOST-PCHRD) is supporting the development of a low-cost ventilation system aimed at minimizing the risk of COVID-19 airborne transmission in schools...

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As the Philippines struggles to address supply issues of key commodities, another major commodity—water—is also expected to present serious, urgent problems, according to an expert from the World Bank...

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A head of the state visits of President Ferdinand Marcos Jr. next week, the chairman of the House Committee on Ways and Means on Sunday asked the President to push for a new oil, gas, navigation framework on the West Philippine Sea with Indonesia and Singapore...

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The Department of Foreign Affairs (DFA) has advised Filipinos in Tripoli to get out of harm’s way by taking shelter in safe places amid the ongoing clashes among militias in the Libyan capital...

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A Chinese softshell turtle has turned up again in Philippine waters, prompting a conservation group’s warning that it is an invasive alien species (IAS) or a sea pest that could harm aquatic life endemic to the country...

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Southeast Asian central banks tightened their monetary policies in response to an aggressive monetary tightening in the United States and rising inflationary pressures...

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Tens of millions of people across Pakistan on Monday were battling the South Asian nation's worst monsoon floods in a decade, with countless homes washed away, vital farmland destroyed and its main river threatening to burst its banks...

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Early estimates put the damage from Pakistan’s recent deadly floods at more than $10 billion, its planning minister said on Monday, adding that the world has an obligation to help the South Asian nation cope with the effects of man-made climate change...

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Starting next week, Americans will no longer be able to order free at-home COVID-19 tests from a website set up by the U.S. government due to limited supply arising from a lack of congressional funding...

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The US government said on Monday it would provide about $11 million to support the packaging of Bavarian Nordic‘s Jynneos monkeypox vaccine at a US-based manufacturer’s facility...

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Replacing a prime minister mid-term is far from unusual in Britain and the incumbent’s party is under no obligation to call a general election...

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A labor disruption in the world’s biggest container port, Southeastern England’s Felixstowe port, is seen to indirectly impact the supply chain in the country, according to a high-ranking official of the Philippine Chamber of Commerce and Industry...

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Worsening droughts, storms, and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to the global economy by 2050, according to a report released on Monday, August 29...

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The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets...

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China's Foreign Ministry on Monday dismissed complaints from Taiwan about repeated harassment by Chinese drones very close to Taiwanese-controlled islands as "not worth fussing about," prompting Taipei to label Beijing as nothing more than thieves...

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The declining number of COVID-19 cases in the country is no reason to relax health protocols, because infections from the Omicron subvariant BA.5 continue to be reported, an infectious disease expert said on Monday...

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Recognizing the bravery and sacrifice of war veterans in the country, President Ferdinand "Bongbong" Marcos Jr. on Monday bared his plan to have hospitals for them built in more parts of the country...

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Nearly all provinces in Luzon logged a decrease in the Covid-19 positivity rate, the independent monitoring group OCTA Research reported on Monday...

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Contrary to Senate President Juan Miguel Zubiri’s view, some senators on Monday maintained that Executive Secretary Victor Rodriguez has not been absolved of any culpability in the botched attempt to import 300,000 metric tons of sugar without President Marcos’ approval...

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The chairman of the House Committee on Good Government and Public Accountability on Sunday asked the new appointees to the Sugar Regulatory Administration (SRA) Board to return their agency to its original mandate, that is, to protect sugar planters and to broaden its function by focusing on modernizing the industry...

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Boracay Island is back in business, with tourist arrivals reaching 1.17 million from January to August 27, 2022...

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The Department of Social Welfare and Development said it is considering adopting an offsite payout system for indigent students who could not register online for the agency’s educational assistance program due to lack of access to internet or gadgets...

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The estimated cost of damage to infrastructure caused by Severe Tropical Storm Florita has reached almost P500 million, according to a report from the National Disaster Risk Reduction and Management Council (NDRRMC) on Monday...

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The Commission on Audit has called the attention of the Department of Budget and Management Procurement Service (PS-DBM) for an unauthorized P3-billion high-yield investment in government banks outside its mandate...

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No volcanic earthquakes were recorded in Mayon Volcano a week after its warning status was raised to alert level 1, but the Philippine Institute of Volcanology and Seismology (Phivolcs) said other parameters indicated that the volcano remained in an abnormal condition...

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Over 300 distressed overseas Filipino workers (OFWs) returned home from Saudi Arabia yesterday, according to Department of Migrant Workers (DMW) Secretary Susan Ople...

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COVID-19 vaccination is no longer required for students and personnel attending face-to-face classes in colleges and universities this school year, Commission on Higher Education (CHED) chairman Prospero de Vera announced Monday...

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More than 12,000 cases of dengue have been reported in the region of Calabarzon this year, a Department of Health (DOH) official said Tuesday...

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The Commission on Elections (Comelec) has opened registration for political parties and party-list groups seeking to run in the May 2025 midterm elections...

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The government is working “double time” to ramp up support for the local salt industry following reports of rising prices due to thinning supply in various parts of the country, Press Secretary Trixie Cruz Angeles said on Monday...

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Amid lingering high inflation, Barcelona-based think tank FocusEconomics expects the Philippines’ third quarter growth to hit the slowest pace since the end of the pandemic-induced recession...

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Local producers are continuing to reel from the high cost of raising fish like bangus and tilapia due to a shortage in feeds, in addition to another problem: the lack of fish fry...

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The minority leader of the House of Representatives on Monday is pushing for higher cash grants to households listed under the government’s flagship Pantawid Pamilyang Pilipino Program (4Ps) as he warned of worsening food insecurity among poor families due to price shocks...

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A Bangko Sentral ng Pilipinas (BSP) survey of private sector economists conducted in August 2022 showed that inflation predictions for this year remain on the high side...

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The National Economic and Development Authority (Neda) defended poverty data estimates, saying the use of a single metric would not be enough to determine the state of a household or a Filipino’s welfare...

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The combined assets of the Philippines’ largest banks grew by double digits annually in the second quarter, a pace not seen since before the pandemic, due to an increase in total loans...

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Banks in the Philippines and most of the Southeast Asian region will see better margins amid higher interest rates, but rising inflation could cause more borrowers to default on their loans, Moody’s Investors Service said on Monday...

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The proposed new fiscal regime to govern the mining sector is expected to strengthen the position of responsible miners and benefit the government, which will receive a fairer share of the revenue generated by the industry, analysts said, though miners warned that investors may elect to go elsewhere as a result...

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Fish farmers are urging the government to implement more measures to address feeds and fry issues that continue to affect aquaculture...

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The government will study the need for another round of salary increase for state workers by 2024, a move that was implemented by the previous administration...

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The Securities and Exchange Commission on Monday released the list of equities, bonds, funds and other securities where Personal Equity and Retirement Account funds may be invested in...

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The information technology and business process management industry is aiming for a 10-percent annual growth in export revenue and 8-percent increase in direct hiring that may result in additional 1.1 million jobs until 2028, a group said Monday...

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American billionaire Elon Musk's satellite-based internet service provider Starlink is targeting to fully cover the Philippines by "the middle of next year," the Department of Information and Communications Technology (DICT) said...

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