August 31, 2022
How the Philippines’ labor productivity compares with its neighbors in the region
Source BusinessWorld
DOH backs CHED’s lifting of Covid vax requirement for F-to-F classes
BusinessMirror, August 31, 2022
Claudeth Mocon-Ciriaco
Stressing that the benefits of face-to-face (F-to-F) classes outweigh the risk of Covid-19 infections, the Department of Health (DOH) on Tuesday threw its support behind the Commission on Higher Education’s (CHED) decision to allow students and higher education institutions (HEI) personnel to participate in in-person classes regardless of their vaccination status...
NG to borrow P200B locally in September
BusinessWorld, August 31, 2022
Diego Gabriel C. Robles
The National Government (NG) plans to borrow P200 billion from the domestic market in September, the Bureau of the Treasury (BTr) said on Tuesday...
Storms, floods to cost PHL $124 billion by 2050
BusinessWorld, August 31, 2022
Luisa Maria Jacinta C. Jocson
Strong storms, heavy flooding and prolonged droughts may result in around $124 billion in losses to the Philippine economy between 2022 and 2050, according to research firm GHD...
SC halts NCAP to hear cases vs traffic policy
Philippine Daily Inquirer, August 31, 2022
Dona Z. Pazzibugan
The Supreme Court has ordered the Land Transportation Office (LTO), the Metropolitan Manila Development Authority (MMDA), and five Metro Manila cities to stop implementing the no-contact apprehension policy (NCAP) for motorists “until further orders.”...
Digitalization key to financial inclusion
The Manila Times, August 31, 2022
Tiziana Celine Piatos
Financial inclusion in the country has been improving over the years, according to the Bangko Sentral ng Pilipinas (BSP)...
China drought to hike price of rice
The Manila Times, August 31, 2022
Bella Cariaso
An official of the Department of Agriculture (DA) on Tuesday warned that a drought being experienced in China could jack up the prices of imported rice...
Economist sees August inflation softening to 6.3%
Manila Standard, August 30, 2022
Julito G. Rada
Inflation rate in August likely eased slightly to 6.3 percent from 6.4 percent in July ago on lower oil prices, an economist said Tuesday...
Senator refiles bill requiring state-run lenders to open bank accounts for Filipinos
BusinessWorld, August 31, 2022
Alyssa Nicole O. Tan
A bill requiring state-run lenders to open a bank account for every Filipino to fast-track the delivery of public and social services, such as aid for qualified beneficiaries, has been refiled at the Senate...
BSP seeks ‘limited lifting’ of bank secrecy law
BusinessMirror, August 31, 2022
Jovee Marie De La Cruz
To strengthen the Philippine banking system, the Bangko Sentral ng Pilipinas (BSP) on Tuesday called on the House of Representatives to prioritize passage of the “limited lifting” of the bank deposit secrecy law and the proposed Financial Accounts Regulation Act...
Sweepstakes office wants documentary stamp tax on lottery tickets cut by 15%
BusinessMirror, August 31, 2022
Bernadette D. Nicolas
State-run Philippine Charity Sweepstakes Office (PCSO) appealed to Congress to bring down the current 20-percent documentary stamp tax rate (DST) imposed on the purchase of lotto tickets to as low as 5 percent, lamenting that the high tax rate reduced their available funds for their medical assistance program (MAP)...
House panel approves GUIDE bill
BusinessWorld, August 31, 2022
K.B.Ta-asan
The House Committee on Banks and Financial Intermediaries on Monday approved a measure that would expand the government’s lending programs to help small businesses recover from the coronavirus disease 2019 (COVID-19) pandemic...
Court orders YouTube, FB to give info on user promoting pedophilia
Philippine Daily Inquirer, August 31, 2022
Dexter Cabalza
A Manila court has ordered social media giants Facebook and YouTube to release information that will lead to the prosecution of people behind a YouTube channel that had posted content on how to seduce minors...
House bill proposes P15-B annual allocation for RCEF
BusinessWorld, August 30, 2022
Luisa Maria Jacinta C. Jocson
A bill filed in the House of Representatives proposes to raise the annual allocation for the Rice Competitiveness Enhancement Fund’s (RCEF) to P15 billion from the current P10 billion...
BSP to issue rules on basic merchant account
Manila Bulletin, August 30, 2022
Lee C. Chipongian
The Bangko Sentral ng Pilipinas (BSP) is finalizing a proposed basic merchant account framework to enable ambulant vendors accept digital payments within the year...
House panel approves new measure for COVID recovery
Manila Standard, August 30, 2022
Maricel Cruz
The House of Representatives committee on banks and financial intermediaries on Tuesday approved a consolidated measure, including Speaker Martin G. Romualdez’s House Bill (HB) 1 which proposes to expand the government’s lending programs to help small businesses recover from the COVID-19 pandemic...
MindNation launches mental healthcare app
BusinessWorld, August 31, 2022
Patricia B. Mirasol
Mindnation, a Singapore-based well-being company, launched a mental healthcare app that provides access to 24/7 teletherapy services to Filipinos...
DND and EU envoy affirm rules-based order in disputed maritime territories
BusinessMirror, August 31, 2022
Rene Acosta
The Philippines and European Union (EU) have stressed the need for a rules-based order in the South China Sea and the West Philippine Sea and the need to keep these waterways open to international navigation...
US donates P27M in books to Bicol
BusinessWorld, August 30, 2022
Alyssa Nicole O. Tan
The United States has donated P27 million worth of reading materials for young students in the Bicol region, the US Embassy said in a statement on Tuesday...
Palace to study joint-exploration of West Philippine Sea with China
Philippine Star, August 31, 2022
Helen Flores
The Marcos administration will study the proposal to conduct joint oil and gas explorations with China in the West Philippine Sea, Malacañang announced yesterday...
UK port strike may lead to shipping delays
Manila Standard, August 31, 2022
Othel V. Campos
Philippine goods bound to the United Kingdom may experience temporary delays due to the ongoing strike at the Felixstowe Port in Southeastern England, the Department of Trade and Industry said Tuesday...
US plans to move COVID-19 vaccines, treatments to private markets in 2023
GMA News, August 31, 2022
Ahmed Aboulenerin, Reuters
The US government expects its supply of COVID-19 vaccines and antiviral treatments to run out over the next year and is preparing for them to be sold via the commercial market, the Department of Health and Human Services said on Tuesday...
First death linked to monkeypox reported in US
Philippine Star, August 31, 2022
Agence France-Presse
Texas authorities on Tuesday confirmed the first US death linked to monkeypox, but said they are still determining what role the disease played in the demise of the "severely immunocompromised" patient...
Oil dives nearly $6 a barrel on demand fears, Iraq exports
Philippine Daily Inquirer, August 31, 2022
Reuters
Oil prices fell nearly $6 a barrel on Tuesday, the steepest decline in about a month, on fears that fuel demand could soften as global central banks hike rates to fight surging inflation, and as unrest in Iraq failed to dent the OPEC nation’s crude exports...
'Third of Pakistan now under water'
The Manila Times, August 31, 2022
Agence France-Presse
Aid efforts ramped up across flooded Pakistan on Tuesday to help tens of millions of people affected by relentless monsoon rains that have submerged a third of the South Asian country and claimed more than 1,100 lives...
Asean committed to tackle marine pollution – official
The Manila Times, August 31, 2022
Bernadette E. Tamayo
The Association of Southeast Asian Nations (Asean) is committed to address marine pollution, among the fastest-growing threat to human health and economic development not just in the region but globally...
Monkeypox going 'in right direction' in Europe – WHO
The Manila Times, August 30, 2022
Agence France-Presse
The World Health Organization said Tuesday it saw "encouraging" signs the monkeypox epidemic was slowing in Europe and heading "in the right direction", calling on countries to double down on efforts...
Webb telescope captures new detail of Phantom Galaxy
ABS-CBN News, August 31, 2022
Agence France-Presse
The James Webb space telescope has revealed dazzling new detail of a previously known slice of the cosmos 32 million light-years away, in a new picture released by NASA and the European Space Agency (ESA)...
Taiwan, China trade barbs over string of island drone incursions
Manila Standard, August 30, 2022
Agence France-Presse
Taipei and Beijing have traded barbs over a recent string of drone sorties that have flown from the Chinese mainland to an outlying Taiwanese island, some surveilling military outposts...
Pakistan floods caused by 'monsoon on steroids,' says UN chief in urgent appeal
CNN Philippines, August 31, 2022
Sophia Saifi, Kathleen Magramo, Mayumi Maruyama and Angela Dewan, CNN
UN Secretary General António Guterres on Tuesday warned that the world is "sleepwalking" into environmental destruction, as he launched a flash $160 million appeal for flood-ravaged Pakistan...
Sri Lanka in ‘final stage’ of IMF talks; budget deficit widens
Rappler, August 30, 2022
Reuters
Crisis-hit Sri Lanka unveiled fresh measures on Tuesday, August 30, in an interim budget aimed at clinching a bailout package from the International Monetary Fund (IMF), talks for which, the president said, had reached the “final stage”...
Dinosaur ribcage unearthed in 'gobsmacking' backyard discovery
CNN Philippines, August 31, 2022
Hafsa Khalil, CNN
Home renovations can unearth all sorts of unexpected items, but one Portuguese property owner discovered hidden treasure on another scale when he stumbled upon what could be Europe's largest dinosaur remains...
Common steroids used for asthma, allergies linked to brain decline, study finds
CNN Philippines, August 31, 2022
Sandee LaMotte, CNN
Taking oral or inhaled glucocorticoids, a type of steroid used to curb inflammation in asthma and other autoimmune disorders, may be linked to damaging changes in the white matter of the brain, a new study found...
PS-DBM: P3-billion investment fund to revert to treasury
Philippine Daily Inquirer, August 31, 2022
Ben O. de Vera, Julie M. Aurelio
The Procurement Service of the Department of Budget and Management (PS-DBM) will return to state coffers P3 billion in investment funds recently flagged by state auditors...
Recto: PITC should go back to 1st mandate
BusinessMirror, August 31, 2022
Jovee Marie De La Cruz
The Procurement Service-Department of Budget and Management’s “controversial twin,” the Philippine International Trading Corp. (PITC), should also be “disenfranchised as a parking lot of billions in government funds,” a leader of the House of Representatives said on Tuesday...
OPS chief: 3 agencies probe fake appointment of BI head
BusinessMirror, August 31, 2022
Samuel P. Medenilla
The Department of Justice (DOJ), Philippine National Police (PNP) and the National Bureau of Investigation (NBI) are now probing the fake appointment of the new head of Bureau of Immigration (BI)...
Govt set to release P5K aid to farmers
The Manila Times, August 31, 2022
Kristina Maralit
The Department of Agriculture (DA) and the Land Bank of the Philippines are working together to hasten the processing and release of financial assistance to the beneficiaries of the Rice Farmers Financial Assistance (RFFA) Program...
PGH admin finds P5.9-B budget ‘more than enough’
Philippine Daily Inquirer, August 31, 2022
Kathleen de Villa
The administration of the Philippine General Hospital (PGH), contradicting a call by the hospital’s union to double the funding for the state-run medical institution, said on Tuesday the allocation for PGH under the proposed 2023 budget is “more than enough."...
Commuter advocacy group OK with P2 jeepney fare hike
Philippine Daily Inquirer, August 31, 2022
Alden M. Monzon
Advocates of commuters’ rights in the country said they were supporting the move to increase jeepney fares, but cautioned transport officials not to increase it by more than P2 to lighten the burden on commuters...
Redundant and wasteful: Group nixes DTI’s proposed e-commerce platform
BusinessMirror, August 31, 2022
Roderick Abad
Digital advocates have called out the Department of Trade and Industry (DTI) on its planned e-commerce platform, saying that it is unnecessary and not responsive to the actual needs of micro, small and medium enterprises (MSMEs)...
Dengue case count 143% higher than 2021–DOH
BusinessMirror, August 31, 2022
Claudeth Mocon-Ciriaco
The Department of Health (DOH) reported on Tuesday a 143-percent increase in dengue cases after a total of 118,785 cases logged from January 1 to August 13, 2022...
Experts raise questions over proposed EDSA busway privatization
BusinessWorld, August 31, 2022
Arjay L. Balinbin
The Government should ensure commuters will not face exorbitant fares if the bus system along Epifanio delos Santos Avenue (EDSA) and urban rail systems will be privatized, analysts said...
Procurement agency promises reforms amid call for abolition
BusinessWorld, August 30, 2022
Keisha B. Ta-asan
The Procurement Service of the Department of Budget and Management (DBM) said it will overhaul its processes amid calls to abolish the office following the alleged overpricing of laptop computers acquired for the Department of Education (DepEd)...
Stakeholders pushed 300K MT imports – ex-sugar exec
The Manila Times, August 31, 2022
Javier Joe Ismael
Resigned Sugar Regulatory Administration (SRA) administrator Hermenegildo Serafica on Tuesday revealed that almost all stakeholders had recommended the importation of 300,000 metric tons (MT) of sugar...
ERC urged to scrap rate hikes
The Manila Times, August 31, 2022
Eireene Jairee Gomez
The Power for People Coalition on Tuesday issued a plea to the Energy Regulatory Commission (ERC) to dismiss outright the motions for price adjustment filed by the Manila Electric Co. (Meralco) and SMC Global Power Holdings Corp. to increase the rates they charge for electricity...
PCSO eyes online lotto to boost yearly revenue
BusinessWorld, August 30, 2022
Kyanna Angela Bulan
The Philippine Charity Sweepstakes Office (PCSO) on Tuesday said it is seeking to boost its revenue through online lotto operations...
DoST tells scientists: Return home
Daily Tribune, August 30, 2022
Michelle R. Guillang
The “Balik Scientist” program of the Department of Science and Technology will be one of the priority programs under the administration of President Ferdinand “Bongbong” Marcos Jr. to reverse the effect of brain drain, Malacañang said on Tuesday...
Infrastructure damage due to 'Florita' reaches P571M – NDRRMC
The Manila Times, August 30, 2022
Francis Earl Cueto
The National Disaster Risk Reduction and Management Council on Tuesday said that the damage to infrastructure caused by Severe Tropical Storm "Florita" has reached P571.1 million....
DSWD mulls opening on weekends to address 4Ps inquiries
The Manila Times, August 30, 2022
Moises Cruz
Department of Social Welfare and Development (DSWD) Secretary Erwin Tulfo said the agency may open its doors on weekends to accommodate people and families wishing to apply for the Pantawid Pamilyang Pilipino Program (4Ps)...
Raw sugar stockpile gone soon–millers bloc
BusinessMirror, August 31, 2022
Jasper Y. Arcalas
The Philippine Sugar Millers Association (PSMA) on Tuesday warned that the country’s current raw sugar stockpile would be soon depleted...
PH heavily reliant on garlic imports to meet demand
Philippine Daily Inquirer, August 31, 2022
Jeannette I. Andrade
The Department of Agriculture assured lawmakers at the House of Representatives on Tuesday that it was working to boost local production of quality garlic, particularly in the Ilocos region...
DA admits garlic in short supply
The Manila Times, August 31, 2022
Bella Cariaso
The Department of Agriculture (DA) on Tuesday reported a shortage in garlic supply in the country, saying for 2022, the agency expects at least a 63,000 metric ton deficit in the commodity...
PHL to suffer white onion, garlic shortage
BusinessMirror, August 31, 2022
Jasper Y. Arcalas
The Philippines is projected to suffer this year a shortage of key ingredients in making Filipino dishes, such as white onion and garlic, as total supplies, even with imports, are insufficient to meet overall demand for the commodities...
Pagcor looking to turn over P37.65-B income to NG in 2023
BusinessMirror, August 31, 2022
Jovee Marie De La Cruz
State-owned casino operator Philippine Amusement and Gaming Corp. (Pagcor) is eyeing to turn over P37.65 billion earnings to the government next year...
Insufficient data hobbles govt drive to revive salt industry, BFAR admits
BusinessMirror, August 31, 2022
Samuel P. Medenilla
The lack of comprehensive data on local salt production is hampering government efforts to revive the said industry, according to the Bureau of Fisheries and Aquatic Resources (BFAR)...
Exporters seek development financing for MSMEs
BusinessMirror, August 31, 2022
Andrea E. San Juan
Local micro, small and medium enterprises (MSMEs) are in need of development financing to sustain their operations as many merchants remain unable to access affordable credit, an official of the umbrella organization of Philippine exporters said on Tuesday...
Isn’t it ironic? PH imports 93% of salt supply
Manila Bulletin, August 30, 2022
Jel Santos
Despite being surrounded by seawater, the Department of Agriculture (DA) said the Philippines has been importing 93 percent of its salt supply...
Government to borrow P200 billion from local creditors
Philippine Star, August 31, 2022
Louise Maureen Simeon
The government targets to raise P200 billion from the domestic debt market next month even as rates continue to rise...
Water-related disasters to cost Philppines $124 billion
Philippine Star, August 31, 2022
Danessa Rivera
The Philippines stands to lose $124 billion until 2050 from water-related disasters such as floods and storms, according to a report by global professional services company GHD...
Peso closes lower at 56.225 vs US dollar
The Manila Times, August 31, 2022
Tiziana Celine Piatos
The Philippine peso closed the spot trading on Tuesday at P56.225 against the United States dollar...
QC to charge Skyway 3 P50m yearly
Manila Standard, August 30, 2022
Rio N. Araja
The Quezon City government eyes P50 million yearly revenue from the Metro Manila Skyway Stage 3 meant to decongest traffic along Epifanio delos Santos Ave. (EDSA) and other arterial roads in the north and south portions of Metro Manila...
Onions, garlic, salt production insufficient, DA warns
CNN Philippines, August 30, 2022
Lois Calderon
Local farm output of onions, garlic, and salt will not be enough to meet the expected demand until the last quarter of the year, Agriculture officials warned on Tuesday...