Philippines climbs in world talent ranking

Source: BusinessWorld

The Philippines’ foreign exchange reserves settled at $93.95 billion at the end of November, amid talks of using it as one of the sources of a seed fund for a planned P275-billion sovereign wealth fund...
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Admitting that the proposed creation of the Maharlika Wealth Fund “got off on the wrong foot,” Rep. Stella Quimbo on Thursday said lawmakers were considering other revisions to address concerns about the plan...

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The Bureau of the Treasury (BTr) said on Wednesday that measures are in place to ensure the integrity of the planned P275-billion Maharlika Wealth Fund amid mounting criticism against the measure due to the timing and risks involved with the investment instrument...

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Finance Secretary Benjamin Diokno is optimistic of stronger fourth-quarter growth given latest economic indicators. "The recent economic numbers all point to a sustained, strong fourth-quarter economic performance," he said in a message to reporters...
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Amid high inflation, President Ferdinand "Bongbong" Marcos Jr. is confident the Philippines will not fall into a recession...

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Salaries in Southeast Asia, including the Philippines, are expected to increase slightly next year, as high attrition rates put pressure on employers to tackle hiring and retention rates...
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A bill that seeks to grant 13th month pay to contractual and job order personnel in the government has been filed at the House of Representatives...
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The Department of Trade and Industry (DTI) has expressed renewed optimism that the Regional Comprehensive Economic Partnership (RCEP) will be ratified by the Senate early next year, banking on the hopes that it has clarified all the contentious issues raised against the regional trade agreement...
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The Private Sector Advisory Council (PSAC) and the Anti-Red Tape Authority (Arta) urged President Marcos to issue an executive order to speed up the permitting process for internet infrastructure after he complained of inadequate connectivity for Filipinos...

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Yamaha Motor Philippines Inc. President Hiroshi Koike said he is grateful for the government's initiatives on zero tariffs on electric vehicles (EVs), but more work still needs to be done in order to fully realize the industry in the Philippines...
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Twitter Inc will roll out new controls as soon as next week to let companies prevent their ads from appearing above or below tweets containing certain keywords, the social media platform told advertisers in an email on Thursday...
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The Philippines remains committed to reapplying for Generalized Scheme of Preferences Plus (GSP+) privileges from the European Union once these expire next year, the Trade department said on Thursday...

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A United Nations special rapporteur currently in the country for a two-week visit noted the lack of reporting, surveillance and data that could be used to better prosecute cases of online child abuse in the country...
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A new report by the Department of the Interior and Local Government (DILG) and the United Nations Development Programme (UNDP) in the Philippines noted that the current policy, systems and procedures of the government in dealing with crisis, such as climate-induced disasters, are “falling short of what needs to be done in a rapidly evolving environment.”...

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Health technology firm Royal Philips today unveiled on Dec. 7, 2022, its Asia Pacific (APAC) findings of its Future Health Index (FHI) 2022 report...
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World Bank President David Malpass on Thursday told senior Chinese government officials that Beijing needs to do more to ease the debt burdens on developing economies, the development lender said...
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The number of billionaires in the world dipped in 2022 due to Russia’s war in Ukraine, monetary policy tightening, stock market falls and the Chinese economic slowdown, UBS said Thursday...
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Low-income countries will need nearly $500 billion in external financing during the 2022-2026 period, the International Monetary Fund said on Thursday, an increase of about $57 billion from a year-ago estimate due largely to spillovers from Russia’s war in Ukraine...
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Proposed European Union rules aimed at tempering natural gas price spikes may actually jeopardize financial stability and need to be redesigned, the European Central Bank said on Thursday in a formal opinion...
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Time magazine named President Volodymyr Zelenskyy as well as "the spirit of Ukraine" as its 2022 person of the year on Wednesday, for the resistance the country has shown in the face of Russia's invasion...

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Globally, people are experiencing inflation at levels not seen for decades as prices surge for essentials like food, heating, transport and accommodation. And though a peak could be in sight, the effects may yet get worse...
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A breathtaking surge in the U.S. dollar trampled foreign currencies, gouged corporate profits and gave investors one of the year’s few winning trades. Though the greenback has stumbled in recent weeks, recession worries may keep it elevated in 2023...
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Negotiations on a draft global agreement to better combat the next pandemic will begin in February next year, the WHO announced after three days of discussions in Geneva...

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Controlling inflation, improving wages, and access to affordable food are the top three major concerns the government of President Ferdinand Marcos Jr. must address, according to a survey by OCTA Research...
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The government has not closed its doors to the resumption of peace talks with the Communist Party of the Philippines-New People's Army (CPP-NPA), Carlito Galvez Jr., presidential adviser on peace, reconciliation and unity, said on Thursday...
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Farmers' group Samahang Industriya ng Agrikultura (Sinag) on Thursday said the government has lost at least P15 billion in revenues this year because of the entry of P25.4 billion worth of smuggled pork and chicken into Philippine markets...
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The Department of Health (DOH) plans to make COVID-19 vaccination part of the primary health-care services available by next year to make it much more accessible to the public...
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There will be enough water for residents in Metro Manila and adjacent provinces from this month until 2023 even with the resumption of economic activities, according to a Metropolitan Waterworks and Sewerage System (MWSS) official...
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An infectious disease expert believes that Covid-19 vaccinations will continue in the foreseeable future to curb infection levels and prevent severe and critical infection against the virus...
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There is no "prominent presence" of foreign terrorists in the country, Presidential peace adviser Carlito Galvez Jr. said, as he noted the downtrend in violent incidents and the "flourishing" tourism in war-stricken Mindanao...
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Drug-related killings being passed off as deaths by natural causes in official records “cannot be tolerated,” Justice Secretary Jesus Crispin Remulla said on Wednesday...
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The Philippine National Police will investigate whether there is an organized group in the PNP and Philippine Drug Enforcement Agency (PDEA) engaged in “recycling” narcotics seized in drug raids following the arrest of a senior PDEA officer and three of his men in a drug bust, a spokesperson for the PNP said on Thursday...
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Manila Electric Co. (Meralco) on Friday announced an increase of P0.3297 per kilowatt-hour (kWh) for December, bringing the overall rate for a household to P10.2769 per kWh from P9.9472 per kWh in November...
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The proposed Maharlika Wealth Fund (MWF) could present vast investment opportunities for the country if carried out properly, Go Negosyo founder Joey Concepcion said on Friday...
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Northern Samar 1st District Rep. Paul Daza is pushing for the non-inclusion of the portion of the national budget as a source of funds for the Maharlika Investment Fund (MIF)...
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Lawmakers proposing the Maharlika Investment Fund (MIF) on Wednesday decided to drop the Government Service Insurance System (GSIS) and the Social Security System (SSS) as contributors to the sovereign wealth fund in the wake of mounting opposition from several business groups, civil society, and even legislators...
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Department of Budget and Management (DBM) Secretary Amenah Pangandaman said that the agency is committed to open governance after the Philippines fell eight places in an international budget transparency survey for 2021...
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Environment and Natural Resources Secretary Maria Antonia Yulo-Loyzaga is expecting the Philippine mining sector to sustain its upbeat performance for the entire 2022 after remaining in positive territory as of end-September...
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San Miguel Corp. (SMC) won a coveted spot in Forbes Magazine’s annual list of the World’s Best Employers, which the conglomerate said validated a long tradition of “malasakit (concern)” for its workers even during the tumultuous COVID-19 pandemic...
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