Manila second lowest in East and Southeast Asia in smart center rankings

Source BusinessWorld

The Philippines is expected to post the strongest economic growth in Southeast Asia this year as domestic demand continues to recover even amid rising inflationary pressures...

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Despite the effect of rising fuel costs on consumer demand, the new chief of the central bank is optimistic that the Philippine gross domestic product (GDP) growth would reach at least the lower end of the government's objective this year...

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Inflation may have spiked to as much as 6.5 percent in June, the Bangko Sentral ng Pilipinas (BSP) said on Thursday, pointing to continued fuel price hikes, higher energy and food costs, and a declining peso...

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President Ferdinand “Bongbong” R. Marcos Jr. on Thursday promised a better, safer and prosperous life for Filipinos during his 6-year term, and said he will do whatever it takes to fulfill that vow, even in times when he won’t have support for certain initiatives...

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The Philippine central bank would consider bigger key rate increases to support the peso and amid faster inflation, according to its new chief...

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The country's total savings dropped by 12.4 percent last year as mobility restrictions imposed to prevent the spread of Covid-19 forced consumers and businesses to tap on their savings...

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A change in government yesterday failed to excite the stock market as scorching inflation, a weakening peso, and prospects of bigger rate hikes continue to send jitters to investors...

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The Marcos administration's fiscal consolidation framework will include equitable and effective policies that aim to sustain economic growth, Finance Secretary Benjamin Diokno said...

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The weak peso will benefit the economy as dollar-earning exporters and families of overseas Filipino workers (OFWs) who send home cash remittances get more bang for their buck, Pres. Ferdinand Marcos Jr.’s chief economic manager said...

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A Transport group said on Thursday that the increase in the minimum fare for traditional jeepneys is still insufficient for operators and drivers to cope with soaring fuel prices, and that the new administration should expect another fare hike appeal...

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The Commission on Human Rights (CHR) on Thursday slammed the National Telecommunications Commission (NTC) on the regulator’s order to internet service providers to block 26 websites supposedly affiliated with terrorist groups...

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Lawmakers on Thursday refiled a measure seeking an increase in the salaries of both teaching and non-teaching personnel. ACT Teachers party-list Representative France Castro, Gabriela Women's Party Rep. Arlene Brosas, and Kabataan Party-list Rep. Raoul Manuel introduced House Bill No. 203, a refiled version of House Bill No. 5990 which failed to get past committee review during the 18th Congress...

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President Rodrigo Duterte has commended the Securities and Exchange Commission (SEC) for its contributions to uplifting the Philippine economy through innovative reforms and programs, and helping push the corporate sector forward amid the pandemic...

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Nearly 10 million Filipinos remain unbanked and the World Bank said the government, private sector, and financial service providers can help address this...

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Vincent Gian N. Salazar, 26, fulfilled his lifelong dream by moving to the US as a healthcare practitioner in 2021, when the Philippines was reeling from the sting of a global coronavirus pandemic...

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The Philippines through the Department of Agriculture (DA) and the Argentine Republic's Ministry of Agriculture, Livestock and Fisheries (MAGyP) have signed a memorandum of understanding (MoU) to promote agricultural cooperation...

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The Philippine capital had the 12th most listed home-share dwellings in the world, Airbnb said, citing a study conducted by Inkifi, a photo printing company...

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Viber has seen a 506% year-on-year growth in transactional messages as brands have been using the messaging platform to send order and account status updates in order to provide better customer support...

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Most markets fell again on Thursday as traders fear that hefty rate hikes to rein in soaring inflation would spark a recession, though a slight improvement in Chinese data provided some cheer...

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Major oil producers, led by Saudi Arabia and Russia, are expected to stick to a previously decided output boost at their meeting on Thursday despite pressure to further increase production...

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Federal Reserve (Fed) Chairman Jerome Powell said there was "no guarantee" the United States central bank could tame runaway inflation without hurting the job market...

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The World Bank's board approved the creation of a fund meant to finance investments in strengthening the fight against pandemics...

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Russian President Vladimir Putin said Thursday that Russia would strive to remain the world’s largest wheat exporter and rejected claims that Moscow was blocking Ukrainian agricultural exports...

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The North Atlantic Treaty Organization (NATO) has for the first time singled out China as one of its strategic priorities for the next decade, warning about its growing military ambitions, confrontational rhetoric toward Taiwan and other neighbors, and increasingly close ties to Russia...

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The World Health Organization said Thursday it expected "high levels" of COVID-19 in Europe this summer and called on countries to monitor the spread as cases tripled in the past month...

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North Korea claimed on Friday the country’s first COVID-19 outbreak began with patients touching “alien things” near the border with South Korea, apparently shifting blame to the neighbour for the wave of infections that hit the isolated country...

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OPEC+ said on Thursday, June 30, it would stick to its planned oil output hikes in August but avoided discussing policy from September onwards even as prices have risen on tight global supplies and worries that the group has little ability to pump more crude...

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North Korea claimed on Friday the country’s first COVID-19 outbreak began with patients touching “alien things” near the border with South Korea, apparently shifting blame to the neighbour for the wave of infections that hit the isolated country...

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The International Monetary Fund (IMF) said its talks with crisis-hit Sri Lanka had been “constructive” on Thursday, June 30, raising hopes it would soon grant preliminary approval for a desperately needed financial support package...

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The US Food and Drug Administration will not require companies to submit clinical trial data on COVID-19 vaccines modified to protect against the BA.4 and BA.5 Omicron subvariants in order to authorize those shots, a top FDA official said on Thursday...

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People taking a commonly-used drug for inflammatory conditions such as rheumatoid arthritis or psoriasis get weaker-than-average protection from COVID-19 vaccines, but stopping the drug for two weeks after a booster dose doubled patients' antibody response in a randomized trial...

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Israeli lawmakers dissolved parliament on Thursday, forcing the country's fifth election in less than four years, with Foreign Minister Yair Lapid set to take over as caretaker prime minister at midnight...

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Salmonella bacteria have been discovered in the world's biggest chocolate plant, run by Swiss giant Barry Callebaut in the Belgian town of Wieze, the firm said on Thursday...

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The International Criminal Court (ICC) issued arrest warrants for three people over alleged war crimes during the 2008 conflict between Russia and Georgia in South Ossetia, it said Thursday...

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The World Health Organization (WHO) on Wednesday appealed for vigilance to ensure monkeypox does not spread among more vulnerable groups, such as children...

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Beijing on Thursday slammed NATO over a “completely futile” warning in which the group said for the first time in a guiding blueprint that China’s power challenges the military alliance...

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Encouraging greater private sector participation in government infrastructure projects requires addressing issues in Public Private Partnerships (PPPs) such as contingent liabilities and risk-sharing, according to the National Economic and Development Authority (Neda)...

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The administration of Ferdinand “BongBong” Marcos Jr. unveiled executive actions for an all-inclusive economic transformation plan that prioritizes job security and creation, food security and self-sufficiency, energy supply, 21st-century learning, public health, tourism, and infrastructure...

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Filipinos will finally get a more detailed view of what President Marcos intends to do in the next six years when he delivers his first State of the Nation Address (Sona) in about three weeks, which he said would focus on “building back better” from the effects of the economic catastrophe caused by the pandemic and the energy crisis that resulted from Russia’s invasion of Ukraine...

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Philippine President Ferdinand R. Marcos, Jr. administered on Thursday afternoon the mass oath-taking of the Cabinet members he has so far nominated...

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President Ferdinand "Bongbong" Marcos Jr. called on Filipinos not to dwell on the past as he vowed to lead the country to a "future of sufficiency."...

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The members of President Ferdinand "Bongbong" Marcos Jr.'s Cabinet were sworn in on Thursday in Malacañang following the inauguration of the country's 17th president at the National Museum...

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President Marcos on Thursday pledged that he would solve the country’s problems without adding more burden on ordinary Filipinos as the country’s 17th President, and that he would offer “no excuses” for things he would be unable to accomplish over the next six years...

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The message sent out by President Ferdinand "Bongbong" Marcos Jr. was heard loud and clear by the business sector, Go Negosyo founder Jose Maria "Joey" Concepcion 3rd said Thursday...

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Outgoing Presidential Adviser for Entrepreneurship Jose Ma. “Joey” A. Concepcion III is recommending a halt to the government’s procurement of coronavirus vaccines, citing the low uptake for booster jabs...

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After completing a six-year term as the 16th President of the Republic of the Philippines, Rodrigo Duterte vacated Malacañang on Thursday morning to mark his return to private life...

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The Bureau of Immigration (BI) has cautioned foreigners in the country against taking part in rallies and political demonstrations as President Ferdinand "Bongbong" Marcos Jr. formally assumes office...

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The Filipino business community has high hopes following the inauguration of President Ferdinand Marcos Jr., describing his inaugural address as “very uplifting, (with) positive tone” and for his commitment on accountability...

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Filipino-Chinese businessmen and American investors in the country expressed strong support for the economic recovery plans of President Ferdinand “Bongbong” Romualdez Marcos, Jr...

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The number of new COVID-19 cases in the National Capital Region (NCR) may peak by the first or second week of July, the OCTA Research Group said yesterday...

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Eleven barangays in Metro Manila were declared national passers of the Department of the Interior and Local Government (DILG) National Capital Region’s Seal of Good Local Governance for Barangays (SGLGB) program for 2021...

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The COVID-19 positivity rate from June 25 to June 29 in 11 areas in the country has increased, independent pandemic monitor OCTA Research said on Friday...

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Seventy-one percent or 337 out of 474 jail facilities are heavily congested by as much as 2,696 percent, leading to unhealthy living conditions for the country’s persons deprived of liberty (PDLs), according to the Commission on Audit (COA)...

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Health Secretary Francisco Duque III stepped down on Thursday without a successor to take over the agency that has been wracked by controversy as well as criticism for its management of the government response to the COVID-19 pandemic...

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The Bagong Alyansang Makabayan (Bayan) criticized President Ferdinand "Bongbong" Marcos Jr. for being "very selective" in his inaugural speech, claiming the new leader failed to address major problems facing the Filipino masses, such as increasing oil prices.)...

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The growth of consumer prices could accelerate to 6 percent in June this year, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said on Thursday, as continued increases in key commodities affect the consumer basket...

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Bank lending growth was at a two-year high in May as economic activity continued to recover and as borrowers secured financing amid rising interest rates, with liquidity also sustaining its expansion...

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Foreign currency loans extended by local banks rose at end-March from the quarter prior as demand for credit increased, with businesses having higher financing requirements and becoming more bullish as the economy continues to recover from the downturn caused by the pandemic...

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Despite faster growth in bank lending, the amount of money in circulation expanded more slowly in May, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Thursday...

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The producer price index (PPI) for manufacturing continued to expand at a faster rate in May, data from the Philippine Statistics Authority (PSA) showed...

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The Marcos administration will greatly benefit from the "revenge tourism" that started under the outgoing Duterte administration, the lead convenor of the Safe Travel Alliance said in a forum on Wednesday...

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The debt-to-gross domestic product (GDP) ratio is expected to peak at a “manageable” 66.8% in 2023, but is unlikely to return to pre-pandemic levels in the near term, the Philippine Institute for Development Studies (PIDS) said in a report on Thursday...

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Gross national savings fell for a second year in 2021 to P3.88 trillion at current prices, down 12.4% from a year earlier and well below the pre-pandemic 2019 level of P6.15 trillion, the Philippine Statistics Authority said on Thursday...

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Amid a high-interest rate environment, the Marcos administration will be “opportunistic” in its foreign commercial borrowings while keeping the bulk of financing for its budget sourced locally, Finance Secretary Benjamin Diokno said...

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The weak peso would also benefit the economy as dollar-earning exporters and families of overseas Filipino workers (OFWs) who send cash remittances get more bang for their bucks, President Ferdinand Marcos Jr.’s chief economic manager said...

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A top insurance executive said Thursday he expects the Philippine economy to grow 8.2 percent this year despite the headwinds from both domestic and external fronts, including rising inflation rate, policy normalization in advanced economies and the geopolitical tensions in Eastern Europe...

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The weak peso would also benefit the economy as dollar-earning exporters and families of overseas Filipino workers (OFWs) who send cash remittances get more bang for their bucks, President Ferdinand Marcos Jr.’s chief economic manager said...

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