July 14, 2022
Govt rightsizing may affect 2M workers
The Manila Times, July 14, 2022
Mayvelin U. Caraballo and Bernadette E. Tamayo
The Department of Budget and Management (DBM) has proposed to rightsize government agencies, which could affect up to 2 million workers...
Philippine rating downgrade ‘unlikely’
BusinessWorld, July 14, 2022
D.G.C.Robles
The Philippines is unlikely to see any credit rating downgrades this year and in 2023, as the economy is expected to grow faster despite headwinds...
PH growth strong amid challenges
The Manila Times, July 14, 2022
Mayvelin U. Caraballo
The economy will likely grow by 6 to 7 percent this year despite global and domestic challenges, the investment banking arm of the Metrobank Group said on Wednesday...
PHL among low-ranked in remote work index
BusinessMirror, July 13, 2022
Cai Ordinario
The Philippines is one of the 10 least attractive countries to work in under a remote set up, according to the Global Remote Work Index released by US-based NordLayer...
Slower GDP growth seen in 2nd quarter
Philippine Star, July 14, 2022
Louella Desiderio
The country is expected to post slower gross domestic product (GDP) growth in the second quarter compared to the previous quarter, but the economy is still seen to expand by six to seven percent for the year despite global and domestic challenges...
BSP releases third phase of sustainability rules
The Manila Times, July 14, 2022
Mayvelin U. Caraballo
The Bangko Sentral ng Pilipinas (BSP) said it continues to be making progress in the area of sustainable finance by releasing the third phase of regulations aimed at promoting the broader adoption of sustainability principles in the domestic financial system...
BBM studying Rice Tariffication Law
The Manila Times, July 14, 2022
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. is looking at his economic team's recommendation to retain the Rice Tariffication Law (RTL) amid calls for the repeal or suspension of the measure...
CHED lifts 11-year moratorium on nursing programs
CNN Philippines, July 13, 2022
CNN Philippines Staff
The Commission on Higher Education announced on Wednesday the lifting of the moratorium that banned new public and private colleges from offering nursing programs for undergraduates...
Improved internet service bill refiled in Senate
Philippine Daily Inquirer, July 13, 2022
Beatrice Pinlac
Senator Grace Poe has refiled her bill that seeks to provide fast, reliable, and affordable internet connectivity across the country...
New rules clarify incentives under the 2008 RE Act
The Manila Times, July 14, 2022
Euney Marie Mata-Perez
Finally, last June 30, 2022, nearly 14 years since the passage of Republic Act (RA) 9513, or the "Renewable Energy (RE) Act of 2008," the Bureau of Internal Revenue (BIR) issued Revenue Regulation (RR) 7-2022, entitled Tax Incentives Under the Renewable Energy Act of 2008, which provides long-awaited policies and guidelines for the availment of tax incentives under the law...
Bill to increase salaries of public school teachers, non-teaching personnel filed
Philippine Daily Inquirer, July 13, 2022
Iliana Padigos
Senator Loren Legarda has filed a bill to increase the minimum wage of public school teachers and non-teaching personnel...
Bill filed in Congress to raise drinking age to 21
Manila Standard, July 13, 2022
Maricel Cruz
Two lawmakers have sought to increase the legal drinking age to 21 from 18 and ban persons with disabilities from buying alcohol...
Legarda bats for additional items in PH current school curriculum
Manila Standard, July 13, 2022
Macon Ramos-Araneta
Senator Loren Legarda said the country’s current educational curriculum should be enhanced with the addition of several important items...
BIR removes 5-year validity period for receipts
BusinessWorld, July 14, 2022
DGCR
All official receipts and invoices will no longer have a validity period starting July 16, the Bureau of Internal Revenue (BIR) said...
Diokno says ‘too early to tinker’ with TRAIN, CREATE reforms
BusinessWorld, July 13, 2022
Diego Gabriel C. Robles
Finance Secretary Benjamin E. Diokno said it is too early to make adjustments to recent tax reform laws, signaling his reluctance to back a House Bill seeking to provide tax relief for the poor and middle class...
BSP reviews inflation forecasting methods
Manial Bulletin, July 13, 2022
Lee C. Chipongian
The Bangko Sentral ng Pilipinas (BSP) has an ongoing review of its inflation forecasting methods after taking unprecedented policy actions as pandemic responses, such as providing liquidity to fund credit and foreign exchange interventions...
Polymer under test circulation — BSP
Daily Tribune, July 14, 2022
Michelle R. Guillang
The central bank is only doing a test circulation or trial using the P1,000 note, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said on Wednesday...
QR code system for truckers turned over to LTFRB for smoother travel — ARTA
Philippine Daily Inquirer, July 13, 2022
Gabriel Pabico Lalu
A system that would make truckers’ deliveries faster and smoother using quick response (QR) codes has been turned over to the Land Transportation Franchising and Regulatory Board (LTFRB), the Anti-Red Tape Authority (ARTA) said...
DoST enhances hybrid learning through Starbooks, Reiinn
The Manila Times, July 14, 2022
To further enhance the hybrid learning in areas that are unserviceable by local telcos and internet providers, the Department of Science and Technology-Science and Technology Information Institute (DoST-STII) and Advanced Science and Technology Institute (DoST-ASTI) partnered to make science learning accessible to students in the far-flung areas of the country...
PH, Japan to 'collaborate more'
The Manila Times, July 14, 2022
Bernadette E. Tamayo
The Philippines and Japan have agreed to further deepen coordination on defense and security as well as "collaborate more" on global and regional issues, Foreign Affairs Secretary Enrique Manalo said on Tuesday...
UK think tank: Peso to rebound soon
Philippine Daily Inquirer, July 13, 2022
Ben O. de Vera
While the peso is currently the region’s most depreciated currency against the US dollar, think tank Pantheon Macroeconomics expects a rebound coming soon...
Neda: Only India has higher jobless rate than PH in emerging Asia
Philippine Daily Inquirer, July 13, 2022
Ben O. de Vera
To bring down the Philippines’ unemployment rate, which remained one of the highest in emerging Asia, the state planning agency National Economic and Development Authority (Neda) wants to fully reopen the economy, including resuming face-to-face classes...
BBM eyes Indonesia or Singapore for 1st trip abroad ahead of UNGA
Manila Standard, July 14, 2022
Vince Lopez and Rey E. Requejo
President Ferdinand Marcos Jr.’s first official travel abroad could be to Southeast Asia, possibly Indonesia or Singapore, a ranking official said Wednesday...
'Pandemic nowhere near over'
The Manila Times, July 14, 2022
Agence France-Presse
Fresh surges of Covid infections show the pandemic is nowhere near over, the World Health Organization's (WHO) chief lamented Tuesday, warning that the virus is running free...
US, allies aim to cap Russian oil prices to hinder invasion
The Manila Times, July 13, 2022
Associated Press
With thousands of sanctions already imposed on Russia to flatten its economy, the US and its allies are working on new measures to starve the Russian war machine while also stopping the price of oil and gasoline from soaring to levels that could crush the global economy...
UK PM insists leaving with 'head held high'
The Manila Times, July 13, 2022
Agence France-Presse
Prime Minister Boris Johnson on Wednesday told a febrile UK parliament that he would leave office with his "head held high" despite the downfall of his scandal-hit leadership...
G20 host Indonesia hopes for progress in finance chief talks despite war friction
Philippine Daily Inquirer, July 13, 2022
Reuters
G20 finance leaders will meet in Bali this week for talks that are due to include issues like global food security and soaring inflation, as host Indonesia tries to ensure frictions over the war in Ukraine do not blow discussions off course...
As president flees to Maldives: State of emergency declared in Sri Lanka
Manila Standard, July 13, 2022
Agence France-Presse
Sri Lanka declared a state of emergency Wednesday as thousands of people mobbed the prime minister’s office after the country’s president flew to the Maldives, following months of widespread protests against an economic crisis...
The euro and the US dollar are at parity for the first time in 20 years
CNN Philippines, July 13, 2022
Nicole Goodkind, CNN Business
For the first time in 20 years, the exchange rate between the euro and the US dollar has reached parity -- meaning the two currencies are worth the same...
Philippines falls 2 spots in global gender gap rankings
BusinessWorld, July 14, 2022
Revin Mikhael D. Ochave
The Philippines slipped two spots in the latest gender gap rankings released by the World Economic Forum (WEF), as the number of women participating in the labor force remained low amid the coronavirus pandemic...
Global regulators back ‘same risk, same regulation’ for stablecoins
BusinessWorld, July 14, 2022
Reuters
Major stablecoins must comply with the same safeguards as traditional forms of payments, global regulators said on Wednesday, tightening controls over a battered crypto sector...
WHO says COVID-19 remains a global health emergency
BusinessWorld, July 13, 2022
Reuters
The World Health Organization (WHO) said on Tuesday that coronavirus disease 2019 (COVID-19) remains a global emergency, nearly 2-1/2 years after it was first declared...
Poland will aid digital shift
Daily Tribune, July 14, 2022
Raffy Ayeng
Poland expressed its intent to collaborate with the Philippines on digitization to help the country rise out of the persisting pandemic and global crisis...
IPOPHL and KIPI forge automation partnership
BusinessMirror, July 13, 2022
Andrea E. San Juan
The Intellectual Property Office of the Philippines (IPOPHL) has partnered with the Korean Institute of Patent Information (KIPI) for in-depth study to further automate IPOPHL services...
At UN, dozens of nations call on Russia to end war in Ukraine
Philippine Star, July 14, 2022
Agence France-Presse
Dozens of countries from around the world called on Russia Wednesday to halt the war in Ukraine...
Novavax Covid-19 vaccine authorized for use in US
Philippine Star, July 14, 2022
Agence France-Presse
The US Food and Drug Administration on Wednesday authorized Novavax's Covid-19 shot for use in people aged 18 and over, expanding Americans' options for vaccination against the disease...
US consumer inflation rises to highest annual rate since 1981
Rappler, July 13, 2022
Reuters
US consumer prices surged 9.1% in June, the largest annual increase in more than four decades amid stubbornly high costs for gasoline, food, and rent, cementing the case for another 75-basis-point interest rate hike by the Federal Reserve this month...
China’s exports bounce back, but global risks darken trade outlook
Rappler, July 13, 2022
Reuters
China’s exports rose at the fastest pace in five months in June as factories revved up after the lifting of COVID-19 lockdowns, but a sharp slowdown in imports, fresh virus flare-ups, and a darkening global outlook pointed to a bumpy road ahead for the economy...
New York stresses monkeypox vaccine ‘urgency’, as cases rise
ABS-CBN News, July 14, 2022
Agence France-Presse
New York City has stressed to the US government the "urgency" with which it needs monkeypox vaccines amid a rise in cases, its mayor said Wednesday...
Tanzania probes mystery illness after three die
GMA News, July 14, 2022
Tanzania has dispatched a team of doctors and health experts to investigate a mysterious disease that has claimed the lives of three people, the government said Wednesday...
Netherlands latest country to detect COVID-19 Omicron subvariant BA.2.75
GMA News, July 14, 2022
The Netherlands announced on Wednesday it has become the latest country to detect a case of the COVID-19 Omicron subvariant BA.2.75, as experts expressed concern about the strain's rapid spread...
NCR to reach 11K cases per day by end-July – DoH
The Manila Times, July 14, 2022
Red Mendoza
Cases of coronavirus disease 2019 (Covid-19) in the National Capital Region (NCR or Metro Manila) may reach around 11,000 cases per day by the end of July due to waning vaccine immunity, continuous mobility and noncompliance with minimum health standards, according to the Department of Health (DoH)...
Free rides for students only at LRT 2 so far – DOTr
Philippine Daily Inquirer, July 14, 2022
Zacarian Sarao
So far, only the Light Rail Transit 2 (LRT 2) will be offering free rides to students this coming school year under its “Libreng Sakay” program, Transportation Secretary Jaime Bautista told reporters on Wednesday...
DBM eyes seeking Congress okay to allow Marcos to rightsize govt
Manila Standard, July 13, 2022
Macon Ramos-Araneta
The Department of Budget and Management (DBM) plans to ask lawmakers in Congress to allow President Ferdinand “Bongbong” Marcos Jr. to “rightsize” or streamline the government bureaucracy to save funds...
Some 41M individuals in PH due for first booster dose vs COVID-19 — DOH
Philippine Daily Inquirer, July 13, 2022
Daniza Fernandez
Around 41 million individuals in the country have yet to receive their first booster dose against COVID-19, the Department of Health (DOH) said on Wednesday...
Not enough rest for teachers in DepEd’s 2023 school calendar — solon
Philippine Daily Inquirer, July 13, 2022
Gabriel Pabico Lalu
Alliance of Concerned Teachers (ACT) party-list Rep. France Castro on Wednesday raised concern that the Department of Education (DepEd) calendar for school year 2022 to 2023 may leave teachers with not enough rest time with enrollment starting on July 25 and the academic year starting by August 25...
78% of Filipinos satisfied with Duterte’s performance as president —SWS
Philippine Daily Inquirer, July 13, 2022
Daniza Fernandez
Seventy-eight percent of Filipinos were satisfied with Rodrigo Duterte’s performance as president, according to a Social Weather Stations (SWS) surveym, the results of which were released on Wednesday...
LTO says P6.8B needed to address license plate backlog
Philippine Daily Inquirer, July 13, 2022
Neil Arwin Mercado
The Land Transportation Office (LTO) needs around P6.8 billion to clear the current backlog on license plate production, the agency’s officer-in-charge Romeo Vera Cruz disclosed Wednesday...
National COVID-19 positivity rate now at 10.9% – OCTA
Philippine Daily Inquirer, July 13, 2022
Zacarian Sarao
The nationwide COVID-19 positivity rate is now at 10.9 percent, said OCTA Research fellow Dr. Guido David on Wednesday...
CHED won't demand full face-to-face classes in universities, colleges, De Vera says
CNN Philippines, July 13, 2022
CNN Philippines Staff
Unlike the Department of Education (DepEd), the Commission on Higher Education (CHED) will not mandate universities and colleges to shift to face-to-face classes in the coming academic year...
Top business leaders to give Marcos advice on economic priorities
BusinessWorld, July 14, 2022
KATA
President Ferdinand R. Marcos, Jr. tapped Aboitiz Equity Ventures, Inc. (AEV) President and Chief Executive Officer (CEO) Sabin M. Aboitiz to lead a group of business executives and experts that would give advice on key economic issues...
Transport coalition calls on DoTr to freeze route rationalization plan
BusinessWorld, July 13, 2022
Arjay L. Balinbin
A transport association said on Wednesday that the Department of Transportation (DoTr) must focus on streamlining the regulatory processes at the Land Transportation Franchising and Regulatory Board (LTFRB) instead of its current plan to rationalize routes, saying that such a measure would inconvenience commuters...
DENR to link land database with LRA’s to streamline titling
BusinessWorld, July 13, 2022
Luisa Maria Jacinta C. Jocson
The Department of Environment and Natural Resources (DENR) said it has entered into a partnership with the Land Registration Authority (LRA) to improve access to information on land and make land-related transactions easier for the public...
No ‘wang wang’ II: MMDA pulls out motorcycle escorts of govt officials
BusinessMirror, July 13, 2022
Claudeth Mocon-Ciriaco
The Metropolitan Manila Development Authority (MMDA) has pulled out its motorcycle escorts detailed to various government officials in support of the drive against illegal use of blinkers and sirens or “wang-wang.”...
Most violations against Occupational Safety Law involve lack of safety officers and health committee
BusinessMirror, July 13, 2022
Samuel P. Medenilla
Most violations against the Occupational Safety Law involve lack of safety officers and a health committee, Occupational Safety and Health Center Director Noel C. Binag disclosed...
Health care utilization still low, but rising – OCTA
Philippine Star, July 14, 2022
Janvic Mateo
While still considered low, health care utilization in the National Capital Region (NCR) and some areas has slightly increased over the past week, the OCTA Research Group reported...
Meteorite specimen donated to National Museum
Philippine Star, July 14, 2022
Marc Jayson Cayabyab
The National Museum of the Philippines has received its first ever specimen of a meteorite, which was formed billions of years ago during the early days of the solar system...
'Too early' to cut income taxes – Diokno
The Manila Times, July 14, 2022
Mayvelin U. Caraballo
Finance Secretary Benjamin Diokno has rejected a party-list group's proposal to lower income taxes, pointing to relatively new tax cuts ordered by the previous administration...
Infra spending under Bongbong Marcos to breach 6 percent of GDP in 2028
Philippine Daily Inquirer, July 13, 2022
Ben O. de Vera
By the end of President Ferdinand Marcos Jr.’s term, public infrastructure spending would have hit its highest share to the economy, at a record-high 6.3 percent of gross domestic product (GDP), according to his economic team’s medium-term plan...
Think tank sees trade deficit rising to $50 billion
BusinessMirror, July 13, 2022
Cai Ordinario
The country’s trade deficit is expected to swell to $50 billion this year on the back of more expensive imports which have been affected by the war in Eastern Europe, according to a local think tank, echoing an earlier prediction by economists...
‘Labor shortage in construction sector to persist’
BusinessMirror, July 13, 2022
Roderick Abad
Labor scarcity is one of the trends that the Philippine construction sector expects to continue this year as economic activity picks up, a homegrown project management company’s top executive said on Wednesday...
Clean source, lesser cost: DOST official assures going nuclear beneficial to PH
Manila Bulletin, July 13, 2022
Dhel Nazario
The top official of the Department of Science and Technology-Philippine Nuclear Research Institute (DOST-PNRI) believes that nuclear power could offer the country with the cleanest source of baseload power at a lesser cost...
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