July 13, 2022

Biden unveils Webb space telescope’s first full-color image of distant galaxies

Source BusinessWorld

Peso touches record low against US dollar

BusinessWorld, July 13, 2022

Keisha B. Ta-asan with Reuters

The Philippine peso on Tuesday fell to its weakest level against the US dollar since November 2004, amid the widening trade deficit and market jitters over more aggressive US Federal Reserve rate hikes...

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COVID transmission still low – DOH

Philippine Daily Inquirer, July 13, 2022

Kathleen de Villa

The country remains classified as low risk despite rising COVID-19 infections, as transmission rates and hospitalizations were still manageable in the past week, according to the Department of Health (DOH)...

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Trade gap widens in May as imports rise

BusinessWorld, July 13, 2022

Bernadette Therese M. Gadon

The Philippines’ trade deficit widened to $5.7 billion in May as imports rose by the fastest pace in five months, according to data from the Philippine Statistics Authority (PSA)...

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5-day in-person classes set

Daily Tribune, July 13, 2022

Neil Alcober

The Department of Education (DepEd) said five-day in-person classes will become mandatory in all public and private schools starting on 2 November...

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Phl asserts WPS arbitral ruling

Daily Tribune, July 13, 2022

Gab Humilde Villegas

Foreign Affairs Secretary Enrique Manalo has rejected attempts to undermine the arbitral ruling over the West Philippine Sea (WPS) as he welcomes the growing list of countries supporting the findings...

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Taming inflation a Marcos priority

The Manila Times, July 13, 2022

Catherine S. Valente

Fighting inflation is a top economic priority for President Ferdinand "Bongbong" Marcos Jr., anticipating it as a "potential problem" for the country, a Malacañang official said on Tuesday...

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Central bank to finalize new sustainability rules

BusinessWorld, July 13, 2022

Keisha B. Ta-asan

The Bangko Sentral ng Pilipinas (BSP) is targeting to finalize its proposed regulations on the wider adoption of sustainability principles in banks’ investment activities by August this year...

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Folded paper or polymer banknotes are valid — BSP

BusinessWorld, July 13, 2022

K.B. Ta-asan

The Bangko Sentral ng Pilipinas (BSP) has clarified that folded banknotes are valid and can be used for transactions...

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Price hike applications for noodles, canned sardines enter final review

BusinessWorld, July 12, 2022

Revin Mikhael D. Ochave

The Trade department is in the final stages of reviewing petitions to raise prices from producers of canned sardines and instant noodles, among others, an official said...

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Former DA chief says rice law made smuggling easier

BusinessWorld, July 12, 2022

Luisa Maria Jacinta C. Jocson

The Rice Tariffication Law must be amended to re-establish the role of the National Food Authority (NFA) as industry regulator, after the liberalization of imports opened the doors to rampant smuggling of the staple grain, former Agriculture Secretary Emmanuel F. Piñol said...

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DOF approves BIR reshuffle order

Manila Bulletin, July 12, 2022

Chino S. Leyco

The Department of Finance (DOF) has approved the reshuffle of several regional district collectors of the Bureau of Internal Revenue (BIR), the government’s main tax agency.

Finance Secretary Benjamin E. Diokno’s approval follows BIR Commissioner Lilia C. Guillermo’s order that relieved six regional directors and two technical assistants and transferred them to new assignments...

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Tax reforms for 20% income tax rate cap, exemption of first P400k earnings pushed

Philippine Daily Inquirer, July 12, 2022

Gabriel Pabico Lalu

A new tax reform package that would set the maximum individual income tax rate at 20 percent and spare from tax a person’s first P400,000 annual earnings is being pushed by lawmakers in the House of Representatives...

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CA rules cyber libel complaint may be filed within 15 years of publication

CNN Philippines, July 12, 2022

CNN Philippines Staff

The Court of Appeals (CA), in upholding the cyber libel conviction of Rappler CEO Maria Ressa and former writer Reynaldo Santos Jr., said a complaint for cyber libel may be filed up to 15 years after the post was published...

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Two pig heart transplants succeed in brain-dead recipients

GMA News, July 13, 2022

Nancy Lapid, Reuters

Surgeons at New York University (NYU) have successfully transplanted genetically-engineered pig hearts into two brain-dead people, researchers said on Tuesday, moving a step closer to a long-term goal of using pig parts to address the shortage of human organs for transplant...

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Japan eyes better Philippine Coast Guard equipment

BusinessWorld, July 12, 2022

Alyssa Nicole O. Tan

Japan wants to boost coast guard and security cooperation with the Philippines, Japan’s Ministry of Foreign Affairs said in a statement on Tuesday...

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US, IEA urge Asian countries to diversify energy supply chains

BusinessWorld, July 12, 2022

Reuters

The United States and the International Energy Agency (IEA) on Tuesday urged Asian countries to diversify their supply chains for energy and critical minerals so they are not dependent on countries such as China and Russia...

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Manalo: Arbitral win vs China to anchor PH policy

Philippine Daily Inquirer, July 13, 2022

Tina G. Santos

Foreign Secretary Enrique Manalo on Tuesday said Manila’s landmark victory in its maritime dispute with China six years ago was now one of the “twin anchors” of the country’s policy and actions in the West Philippine Sea...

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Boracay is among 50 of ‘world’s greatest places of 2022’

Philippine Daily Inquirer, July 13, 2022

Alexander T. Magno

Boracay has made it to a Time list titled “The world’s greatest places of 2022: 50 extraordinary destinations to explore,” which was posted on its website on Tuesday...

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5,295 OFWs in Macau affected by suspension of work due to COVID-19

BusinessMirror, July 12, 2022

Malou Talosig-Bartolome

A total of 5,295 Filipinos in Macau were affected by the suspension of business activities after authorities enforced a hard lockdown Monday following the worst coronavirus outbreak in the Chinese territory since the pandemic began in 2020...

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US urges China to end ‘provocative’ behavior in South China Sea

Rappler, July 12, 2022

Reuters

Washington will defend treaty ally the Philippines if its forces are attacked in the South China Sea, US Secretary of State Antony Blinken has said, urging China to follow international law and cease “provocative behavior” in the busy waterway...

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PH rejects efforts to undermine arbitral ruling on South China Sea

Philippine Daily Inquirer, July 12, 2022

Daniza Fernandez

The Philippines is rejecting any attempts to weaken the ruling of the Permanent Court of Arbitration which invalidated China’s nine-dash line claim over the South China Sea, Foreign Affairs Secretary Enrique Manalo said Tuesday...

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China taking advantage of PH neutrality, says expert

Philippine Daily Inquirer, July 12, 2022

Daniza Fernandez

There is only one side that is taking advantage of the Philippines’ neutrality: China. Thus was the assertion of an international security and intelligence studies professor at the Australia National University, who also claimed that “[i]n the Philippines, there is an appetite for being impartial, sitting on the fence, and not taking sides.”

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Expert calls for 2% increase in defense budget to boost national security

Philippine Daily Inquirer, July 12, 2022

Daniza Fernandez

Increasing the budget to two percent for defense would boost the country’s national security, an expert said on Tuesday...

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India to surpass China as most populous country in 2023 — UN report

GMA News, July 13, 2022

Manoj Kumar, Reuters

India is set to surpass China as the world's most populous country in 2023, with each counting more than 1.4 billion residents this year, a United Nations report said on Monday, warning that high fertility would challenge economic growth...

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Taiwan to hold island-wide, air-raid drills simulating China attacks

ABS-CBN News, July 13, 2022

Lawrence Chung, South China Morning Post

Taiwan will stage island-wide drills simulating missile and warplane attacks by the People's Liberation Army, as tensions soar across the strait...

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COVID-19 pandemic is ‘nowhere near over’, says WHO

ABS-CBN News, July 13, 2022

Agence France-Presse

Fresh waves of COVID infections show the pandemic is "nowhere near over", the World Health Organization's chief warned Tuesday, voicing concern the virus is "running freely"...

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Sri Lankan president flees country before scheduled resignation

Philippine Daily Inquirer, July 13, 2022

Reuters

Sri Lankan President Gotabaya Rajapaksa fled the country early on Wednesday, two sources told Reuters, hours before he was due to step down amid widespread protests over his handling of a devastating economic crisis...

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Eight candidates make cut in race to succeed UK PM Johnson

Philippine Daily Inquirer, July 13, 2022

Reuters

Eight Conservatives will fight it out to succeed Boris Johnson as party leader and British prime minister after winning enough nominations from their colleagues to go through to the first round of voting on Wednesday...

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Ukrainian rockets hit Russian-held area as Kyiv readies southern counter-attack

Philippine Daily Inquirer, July 13, 2022

Reuters

Ukraine said on Tuesday it had carried out a long-range rocket strike against Russian forces and military equipment in southern Ukraine, territory it says it is planning to retake in a counter-offensive using hundreds of thousands of troops...

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Second Cabinet meeting focused on DPWH budget

BusinessWorld, July 12, 2022

Kyle Aristophere T. Atienza

President Ferdinand R. Marcos, Jr. on Tuesday held his second Cabinet meeting, which was focused on preparations for the 2023 budget, specifically that of the Department of Public Works and Highways (DPWH)...

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Ports agency studying ways to implement DoTr directive to cut shipping, travel costs

BusinessWorld, July 12, 2022

Arjay L. Balinbin

The Philippine Ports Authority (PPA) is looking into reducing port costs by reviewing statutory and regulatory expenses paid by users, Officer-in-Charge General Manager Manuel A. Boholano said, noting that the agency is under orders to effect such reductions from the Department of Transportation (DoTr)...

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Climate change advocate picked as next DENR chief

Philippine Daily Inquirer, July 13, 2022

Nestor Corrales

President Ferdinand Marcos Jr. on Tuesday nominated climate change advocate Ma. Antonia “Toni” Yulo Loyzaga as secretary of the Department of Environment and Natural Resources (DENR)...

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BSP to retailers, banks: Accept folded P1,000 polymer bills

Philippine Star, July 13, 2022

Lawrence Agcaoili

Folded P1,000 polymer banknotes can still be circulated and accepted for payments...

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DOH: BA.5 most dominant Omicron subvariant

Philippine Star, July 13, 2022

Rhodina Villanueva

The most dominant Omicron subvariant in several regions is now BA.5, the Department of Health (DOH) said yesterday...

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‘Wall of immunity’ must rise before optional mask wearing – DOH

Philippine Daily Inquirer, July 13, 2022

Zacarian Sarao

The population must first build up its “wall of immunity” before the government can allow the optional use of face masks outdoors, Health Undersecretary Maria Rosario Vergeire said in a news briefing on Tuesday...

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Survey: 89% say Marcos should assert WPS ruling

Philippine Daily Inquirer, July 13, 2022

Frances Mangosing

Most Filipinos believe that President Ferdinand Marcos Jr. and his administration should assert the six-year-old arbitral ruling on the maritime dispute with China and strengthen the Navy and Coast Guard to defend its waters, according to a recent Pulse Asia survey...

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BOC revenue collection target now at P733B

BusinessMirror, July 12, 2022

Bernadette D. Nicolas

President Marcos Jr.’s economic team further jacked up the revenue collection target of the Bureau of Customs (BOC) for this year to P733 billion...

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Philippines won’t close borders amid rising cases

BusinessWorld, July 12, 2022

Kyle Aristophere T. Atienza

The Philippines is unlikely to restrict its borders again despite rising coronavirus infections spurred by more contagious Omicron subvariants, health authorities said on Tuesday...

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Rising prices top concern among Filipinos — Pulse Asia

BusinessWorld, July 12, 2022

Kyle Aristophere T. Atienza

Spiraling prices are the top concerns of Filipinos in a June poll by Pulse Asia Research, Inc...

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DepEd: In-person classes mandatory starting Nov 2

The Manila Times, July 13, 2022

Kaithreen Cruz

The Department of Education (DepEd) on Tuesday announced that all public and private schools are mandated to hold face-to-face classes starting Nov. 2, 2022, as indicated in DepEd Order 34, Series of 2022 signed by Vice President and Education Secretary Sara Duterte-Carpio...

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Marcos backs curriculum review to fix job mismatch

Manila Standard, July 13, 2022

Vito Barcelo and Vince Lopez

President Ferdinand Marcos Jr. has backed proposals to review the country’s education curriculum in order to equip students with skills required by different industries and address the existing job mismatch...

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School year 2022-2023 to start August 22 — DepEd

Philippine Daily Inquirer, July 12, 2022

Daphne Galvez

School year 2022-2023 will start on August 22 and will end on July 7, 2023, the Department of Education (DepEd) announced on Tuesday...

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Expert calls for 2% increase in defense budget to boost national security

Philippine Daily Inquirer, July 12, 2022

Daniza Fernandez

Increasing the budget to two percent for defense would boost the country’s national security, an expert said on Tuesday...

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Manila launches feeding program for undernourished kids

Philippine Star, July 13, 2022

Marc Jayson Cayabyab

The Manila city government has launched its 120-day feeding program for undernourished children as part of the celebration of Nutrition Month...

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Dengue epidemic in 15 regions above threshold: ‘It is worrisome,’ says DOH

Philippine Daily Inquirer, July 12, 2022

Zacarian Sarao

Fifteen out of 17 regions in the country have already surpassed the epidemic threshold for dengue, the Department of Health (DOH) said Tuesday...

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Why 300,000 doses of AstraZeneca vaccines for Bacolod City expired in DOH warehouse

Rappler, July 12, 2022

Inday Espina-Varona

Chris Sorongon, former deputy chief of the city's Emergency Operations Center, says the national government controls the distribution of vaccines to provinces...

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Most Filipinos want gov’t to address inflation, prioritize workers’ pay — survey

Philippine Daily Inquirer, July 12, 2022

Neil Arwin Mercado

Most Filipinos view controlling inflation, increasing workers’ pay, and reducing poverty as urgent national concerns and issues that President Ferdinand “Bongbong” Marcos Jr. should prioritize, a Pulse Asia survey released Tuesday showed...

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Mandatory COVID booster shots not yet necessary – DOH

Philippine Daily Inquirer, July 12, 2022

Zacarian Sarao

Making COVID-19 booster shots mandatory is not yet necessary, Health Undersecretary Maria Rosario Vergeire said in a briefing with reporters on Monday...

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DepEd, concerned agencies to discuss transpo issues ahead of 100% in-person classes

GMA News, July 13, 2022

Joviland Rita

The Department of Education (DepEd) will meet with concerned agencies to discuss transportation issues in light of the planned implementation of 100% face-to-face classes in November, an official said Wednesday...

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White-collar Filipino workers feel pinch of price increases

BusinessWorld, July 13, 2022

Kyle Aristophere T. Atienza

Soaring prices of food and fuel are now forcing many white-collar Filipino workers to cut back on nonessential spending, which some experts say may affect businesses focused on leisure and recreational services...

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Twin deficits, negative real rate to put pressure on peso

BusinessWorld, July 13, 2022

D.G.C. Robles

The Philippines’ twin deficits, along with its negative real interest rate, will continue to put pressure on the peso, Manulife Investment Management said...

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PCCI notes deteriorating business conditions due to energy costs, logistics

BusinessWorld, July 12, 2022

Revin Mikhael D. Ochave

The Philippine Chamber of Commerce and Industry (PCCI) said business conditions have deteriorated for exporters due to rising energy costs and logistics bottlenecks...

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BBM crafts plan to tame prices

Daily Tribune, July 13, 2022

TDT

President Ferdinand “Bongbong” Marcos has readied measures that would help curb inflation, Malacañang said on Tuesday...

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Exporters scramble to cut costs to sustain operations

Philippine Daily Inquirer, July 13, 2022

Tyrone Jasper C. Piad

Export-oriented manufacturers have been ramping up technology investments and improving operational efficiency to cut down costs amid high fuel expenses and sustain operations to meet rising demand, according to an official of the Philippine Chamber of Commerce and Industry (PCCI)...

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Millers seek more corn imports

The Manila Times, July 13, 2022

Eireene Jairee Gomez

Local feed millers are appealing to President Ferdinand "Bongbong" Marcos Jr., who also sits as the chief of the Department of Agriculture (DA), to adopt stop gap measures that would facilitate the importation of corn used as a major feedstock component of poultry and livestock growers...

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BAI: chicken supply will soon catch up with demand

BusinessMirror, July 11, 2022

Jovee Marie De La Cruz

The Bureau of Animal Industry (BAI) on Tuesday said the country’s chicken output and supply would soon rise as local raisers have started to restock their farms...

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Exporters want to cut costs as logistics crisis worsens

BusinessMirror, July 11, 2022

Andrea E. San Juan

The Philippine Chamber of Commerce and Industry (PCCI) said exporters are looking for ways to cut costs as they grapple with a global container shortage and high logistics cost...

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In-person classes will allow GDP to grow by 8%–PCCI

BusinessMirror, July 11, 2022

Andrea E. San Juan and Samuel P. Medenilla

The Philippine Chamber of Commerce and Industry (PCCI) said Tuesday that the resumption of face-to-face classes would allow GDP to grow by 8 percent in the second half...

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Habagat agri damage climbs to P27.28 million

Philippine Star, July 13, 2022

Danessa Rivera

Damage to the agriculture sector due to the southwest monsoon or habagat has climbed to P27.28 million, the Department of Agriculture (DA) said yesterday...

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Feedmillers seek measures to increase feed corn supply

Philippine Star, July 13, 2022

Danessa Rivera

Local feedmillers are pushing for stopgap measures to raise the country’s feed corn supply – a major feedstock component of poultry and livestock growers – via importation...

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Philippine trade gap widens in May

Philippine Star, July 13, 2022

Louella Desiderio

The country’s trade deficit expanded in May as imports continued to outpace exports on the back of higher prices of oil and other commodities from overseas due to the ongoing Russia-Ukraine conflict, and increased demand for raw materials with the further reopening of the economy...

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Government borrows P35 billion from local market

Philippine Star, July 13, 2022

Louise Maureen Simeon

Higher rates from investors did not stop the government from borrowing P35 billion in Treasury bonds (T-bonds) as the debt market prepares for a more hawkish Bangko Sentral ng Pilipinas (BSP)...

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Stocks fall on weaker peso

Philippine Star, July 13, 2022

Iris Gonzales

Local share prices slumped yesterday after the peso weakened further versus the US dollar...

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Wheat import costs to spike anew—PAFMI

Manila Standard, July 13, 2022

Othel V. Campos

Flour millers expect prices of imported wheat to spike anew in the second half of the year, given record inflation and the outside dynamics of global wheat supply and demand...

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