Manufacturing Purchasing Managers’ Index (PMI) of select ASEAN economies, November 2022

Source: BusinessWorld

Three national artists, three national scientists, a former UP president, former chancellors of UP Baguio, UP Visayas, and UP Open University and over 40 UP professors emeriti issued late Wednesday evening a statement supporting the candidacy of Dr. Fidel Nemenzo for the UP presidency...

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The Bangko Sentral ng Pilipinas underscored the resilience of the Philippine economy after its gross domestic product (GDP) grew by 7.6 percent during the third quarter of the year...

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The Bangko Sentral ng Pilipinas (BSP) on Thursday expressed confidence that this year's economic growth target would be met, in turn providing monetary authorities further leeway to combat inflation...

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The Philippines is expected to be among the top recipients of remittances this year, with money sent from overseas seen to reach $38 billion, according to the World Bank...

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Factory activity in the Philippines expanded for a tenth month in a row in November, although jobs fell for the first time since March, a survey by S&P Global showed on Thursday...

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The House Committee on Banks and Financial Intermediaries on Thursday approved the proposed law of President Ferdinand Marcos Jr. creating the P250-billion Maharlika Wealth Fund...

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The members of the Joint Foreign Chambers (JFC) are again calling for the enactment of at least 24 legislative measures in the 19th Congress, including the liberalization of foreign equity restrictions in the Constitution and the further lowering of barriers to entry in the telecommunication sector...

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Amid the raging debate on fish importation, the Department of Agriculture (DA) said it is still studying whether to lift a ban on the sale of imported salmon and pompano in public markets...
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An official of the Bureau of Fisheries and Aquatic Resources (BFAR) on Thursday said the ban on the imported pompano, salmon and other unauthorized imported fish will be implemented as scheduled on Sunday, December 4...
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Substitute bills of several priority measures have been approved by the House of Representatives Committee on appropriations to ensure that the proposals would move despite the bicameral conference committee hearings on the 2023 national budget...
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Elon Musk said on Wednesday one of his companies would, in six months, be able to implant a device into a human brain that would allow communication with a computer...
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Making actors young usually takes an army of visual effects experts. However, Disney recently made this adjustment easier with its new AI tool...
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At a vast warehouse in the southern Dutch city of Roosendaal, automated cranes and driverless vehicles silently stack clothes for the French and Italian stores of retailer Primark, reducing the need for hard-to-come-by labor...
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Rising inflation and a slowdown in economic growth worldwide dragged down the real value of wages of “tens and millions of workers,” according to a new International Labor Organization (ILO) study...

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President Ferdinand “Bongbong” R. Marcos, Jr. said he is now exploring an alternative to a government-to-government (G2G) agreement with China to push through the long-stalled plans for a joint oil exploration in the West Philippine Sea (WPS) with the Asian giant...

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President Ferdinand “Bongbong” Marcos Jr. on Thursday said the United States had made “many requests and proposals” concerning the Enhanced Defense Cooperation Agreement (Edca), the most recent military accord between the Philippines and its treaty ally...

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President Ferdinand “Bongbong” Marcos Jr. on Thursday said the Philippines was looking for other ways to explore for oil and gas in the West Philippine Sea, admitting that talks on joint exploration with China have reached a stalemate...

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The Philippine Coast Guard (PCG) is seeking support from Congress for another base and a training center that would be built in Occidental Mindoro, a province in Southern Luzon that faces the West Philippine Sea...

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The United States government donated HIV viral load testing cartridges valued at P85 million ($1.5 million) in a turnover ceremony hosted by the Manila City government on December 1, also to commemorate World AIDS Day...

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The European Union (EU) is providing €200,000 or over P11 million in humanitarian funding to help families affected by Typhoon "Paeng" which struck the Philippines in late October...

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IMF chief Kristalina Georgieva warned Thursday that the chance of global growth dropping below two percent -- last seen during the coronavirus outbreak and the global financial crisis of 2009 -- is increasing as major economies slow...

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Cash transfers to low- and middle-income countries eased this year, with rising prices taking a toll on migrants' incomes, according to the World Bank...

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The United States on Thursday slapped sanctions on three North Korean officials over Pyongyang's slew of missile tests, vowing that they would not go unpunished...

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U.S. President Joe Biden and French President Emmanuel Macron presented a united front on Ukraine on Thursday at the White House, and Biden said he would talk to Russian President Vladimir Putin if he is willing to end the invasion...

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European Union governments tentatively agreed on Thursday on a $60 a barrel price cap on Russian seaborne oil – an idea of the Group of Seven (G7) nations – with an adjustment mechanism to keep the cap at 5 percent below the market price, according to diplomats and a document seen by Reuters...

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New York and Singapore have emerged as the joint-most expensive cities to live in, according to a new worldwide survey...

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The United Nations (UN) and partners on Thursday launched an appeal for a record $51.5 billion in aid money for 2023, with tens of millions of additional people expected to need humanitarian assistance...

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The government’s Kadiwa program in major cities will continue until early next year when prices of basic commodities are expected to finally normalize, President Ferdinand R. Marcos Jr. announced on Thursday...

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The revelations on the activities of a human-trafficking syndicate victimizing jobseekers forced to work in cyberscam entities in Southeast Asia would hopefully speed up the dismantling of both the recruiters’ activities and the operations of the crypto scammers, mostly based in remote parts of Myanmar...

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Metro Manila’s new COVID-19 cases per week increased by 56%, from 264 new cases on November 24 to 411 cases on December 1, OCTA Research fellow Guido David said on Friday...

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Amid commuter complaints of a shortage in stored value fare cards, branded as Beep cards, in train stations in Metro Manila, the Department of Transportation (DOTr) on Thursday said that the private card provider has promised to deliver 150,000 cards at the soonest time...

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Employees of the Senate, House of Representatives and the Government Service Insurance System and mall goers in five shopping malls in Metro Manila will get first crack at the “register anywhere” scheme for voters beginning Dec. 17...

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The COVID-19 pandemic stalled efforts to control the spread of the human immunodeficiency virus (HIV), according to the Department of Health (DOH), as it noted that the health crisis and ensuing lockdowns hardly deterred “risky behaviors” that lead to HIV infections...

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Local government units (LGUs) should be given more time for the smooth transition of devolved functions from the National Government (NG) agencies, according to a report...

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President Ferdinand “Bongbong” R. Marcos, Jr. said he will be considering candidates, who lost in the May 2022 polls, for Cabinet posts by next year...

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The Philippines needs to include more ordinary people or representatives from civic groups in the budget process, according to observers, after the country fared poorly on people’s participation in public budgeting in a survey that measured access to and inclusiveness of budget decisions of 120 countries...

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State pension fund managers announced last Thursday they will release into the system a combined P33.09 billion (nearly $588 million at current exchange rates) when benefits are disbursed to their respective pensioners next week...

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The use of reverse transcription – polymerase chain reaction testing to check if a person is positive for COVID-19 has significantly declined because “updated protocols have prioritized testing of more severe cases,” an official of the Department of Health (DOH) said...

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The judiciary must “be dynamic and responsive to current realities” because the public uses social media to solve legal issues, Chief Justice Alexander Gesmundo said Thursday...

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The Joint Foreign Chambers (JFC) targets to generate $128 billion worth of foreign direct investments (FDI) by 2030, and noted that majority of these might be poured into the Energy sector...

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The Philippines’ manufacturing sector expanded for the 10th month in a row and improved slightly in November, with the S&P Global Philippines Manufacturing PMI (purchasing managers index) inching up to 52.7 in November from 52.6 in October...
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Department of Trade and Industry (DTI) Secretary Alfredo Pascual said they plan to come up with a new suggested retail price (SRP) list by January 2023...

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The Department of Trade and Industry (DTI) is expected to increase the suggested retail prices (SRP) for basic necessities and prime commodities in January, dimming hopes of consumers for some break after the price hikes in Noche Buena items during the holidays...
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The Philippine Stock Exchange index (PSEi) took a respite on Thursday as investors cashed in their gains from a six-day rally...
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For the second time, oil companies raised the retail prices of liquefied petroleum gas (LPG) products for December...
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The Department of Agriculture (DA) has assured Filipino consumers that the country has enough supply of pork, just days after it was reported that the domestic stockpile dipped slightly in the fourth quarter...
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The Department of Agriculture (DA) said Thursday it might resort to importing red onions if local producers do not cooperate to bring prices down...

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GO Negosyo founder Jose Maria "Joey" Concepcion 3rd on Thursday recognized the role of micro, small and medium enterprises (MSMEs) and overseas Filipino workers (OFWs) as drivers of the country's economic growth, ahead of the nonprofit organization's celebration of its 17th anniversary...
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Farmers' group Samahang Industriya ng Agrikultura (Sinag) president Rosendo So on Thursday said that smuggled white onions flood the local wet markets, saying confiscated bulbs of the Department of Agriculture (DA) only represent 10 percent of the illegal products...

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Local stocks bucked the uptrend in other emerging markets yesterday as the main index fell on profit taking, putting a stop to six straight sessions of gains. The Philippine Stock Exchange index (PSEi) opened December in the red, finishing at 6,734.99, down by 45.79 points or 0.67 percent. Likewise, the broader All Shares index slipped by 12.95 points or 0.36 percent to 3,501.03...

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The Philippines central bank has policy flexibility given a resilient economy and stands ready to adjust interest rates to bring inflation back to target, its governor said on Thursday...
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