Philippine trade year-on-year performance

Source BusinessWorld

The Philippines has protested the return of over 100 Chinese vessels illegally operating in the waters in and around Julian Felipe Reef last April 4, barely a year after the same swarming incident was protested by the government, the Department of Foreign Affairs (DFA) said yesterday...

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The Philippines’ April trade deficit narrowed month on month to $4.8 billion, as exports slightly picked up and imports grew at their slowest pace in 13 months amid the Russia-Ukraine war and supply chain disruptions...

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April factory activity eased to its slowest pace in 13 months, as factories grappled with higher production costs due to supply chain issues and soaring fuel prices...

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The government will formally launch within this month the blueprint designed to revitalize the Philippine coconut industry, an official said on Thursday...

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To recover from both the immediate and long-term repercussions of the Covid-19 pandemic, the incoming administration must transform the Philippine economic paradigm from services-led to "The Investment Imperative," a former central banker stressed...

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Inflation, or the rate of increase in prices of basic commodities, is expected to flirt with 6-percent year-on-year level beginning this month before tapering off toward 5 percent in the remainder of the year, according to Pantheon Macroeconomics...

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An estimated 2.76 million Filipinos were out of work in April, fewer than 2.87 million the month prior, the Philippine Statistics Authority reported Friday...

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Transport sector workers said Thursday that the one-peso provisional fare increase granted them by the government is a welcome development. Still, they insisted that it cannot offset the adverse impact of the skyrocketing prices of petroleum products...

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The central bank has raised anew the rate for the term deposit facility (TDF) after both the seven and 14-day tenors registered oversubscription to P140 billion (from P130 billion) and P160 billion (from P170 billion), respectively...

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The Philippines reinstituted the 90-day validity of sanitary and phytosanitary import clearance (SPS-IC) for imported meat products to ensure the country’s food security, as the arrival of shipments is taking a longer time due to disrupted global supply lines...

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The Bureau of Immigration (BI) has ordered a strict screening for Filipinos departing for Japan to curb human trafficking...

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The Bangko Sentral ng Pilipinas (BSP) is targeting to launch a news sentiment index (NSI) by 2023, as it seeks to ramp up the use of big data in its monitoring activities...

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Super app Grab has launched on Wednesday its in-house mapping and location-based service called GrabMaps, which is intended to fully power the Singapore-based company by the third quarter of 2022...

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The increasing popularity in the FinTech space, ubiquitous Internet connectivity, and the widespread use of smart devices have created enormous possibilities for digital payment systems...

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The Department of Trade and Industry (DTI) wants the discount privileges granted to senior citizens and persons with disabilities (PWDs) honored in e-commerce platforms...

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Packing material, disposable cutlery, CD cases: Polystyrene is among the most common forms of plastic, but recycling it isn’t easy and the vast majority ends up in landfills or finds its way to the oceans where it threatens marine life...

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The Department of Trade and Industry (DTI) wants the discount privileges granted to senior citizens and persons with disabilities (PWDs) honored in e-commerce platforms...

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The Asian Development Bank (ADB) has approved up to $4.3 billion in loans to finance the construction of the South Commuter Railway Project...

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The foreign direct investment (FDI) market will be beset by risk aversion in light of the war between Ukraine and Russia, the United Nations Conference on Trade and Development (UNCTAD) said...

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The Philippines and Israel said they formed a Joint Economic Commission (JEC) that will explore pathways to improving trade...

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United States (US) Deputy Secretary of State Wendy Ruth Sherman engaged President-elect Ferdinand “Bongbong” Marcos Jr. in a wide-ranging discussion Thursday in Manila on further bolstering economic and security relations between the two countries...

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The Philippines’ labor attachés in Taiwan have sought the help of the Manila and Economic and Cultural Office (MECO) in asking the Taiwanese government to defer the implementation of new regulations governing the payment of salaries and insurance premiums of foreign crew members employed by fishing vessels in the territory...

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The European Central Bank (ECB) ended a long-running stimulus scheme on Thursday, June 9, and said it would deliver next month its first interest rate hike since 2011, followed by a potentially larger move in September...

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Only five more countries need to ratify the 1986 amendment in the International Labour Organization (ILO) Constitution, which will democratize the composition of its governing body, before it could finally take effect...

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One of the Philippine Navy’s warships, the BRP Antonio Luna, sailed for Hawaii on Wednesday to participate in this year’s Rim of the Pacific (RIMPAC) naval exercise...

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President-elect Ferdinand Marcos Jr. would be “welcome” to the United States given his diplomatic immunity as a head of state, a top Washington diplomat pointed out on Thursday...

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Foreign Affairs Secretary Teodoro Locsin Jr. called on the international community for a collective action to save the world's oceans as the Philippines joined the commemoration of World Oceans Day on Wednesday, June 8...

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The Quacquarelli Symonds (QS) World University Rankings 2023 has listed four Philippine universities as among the best in the world on its University Rankings for 2023...

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The administration of President-elect Ferdinand "Bongbong" Marcos will pursue a "critical engagement" with China despite the dispute over the West Philippine Sea (WPS), incoming National Security Adviser (NSA) Clarita Carlos said on Thursday...

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The election of Ferdinand Marcos Jr. as the country’s new leader presents an opportunity to build a firmer foundation for a stable alliance between the Philippines and the United States, according to the Washington-based think tank Center for a New American Security...

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The Philippine Navy would be acquiring at least 19 brand-new ships and likely get three used vessels over the next few years to boost its aging and fledgling fleet, which is one of the weakest in Asia...

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Russia's invasion of Ukraine and the energy and food crises it worsened will severely drag down global economic growth and push up inflation this year, the Organization for Economic Cooperation and Development (OECD) said on Wednesday...

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The United States and China are expected to use Asia’s top security meeting this week to trade blows over everything from Taiwan’s sovereignty to the war in Ukraine, although both sides have indicated a willingness to discuss managing differences...

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NASA said on Thursday it plans to assemble a team of scientists to examine "unidentified aerial phenomena" - commonly termed UFOs - in the latest sign of the seriousness with which the US government is taking the issue...

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Most Asian and European markets fell on Thursday as a rally in oil ramped up inflation fears, with top officials warning of more pain to come as the war in Ukraine continues to push prices up and put further pressure on the global economy...

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The risk of monkeypox becoming established in non-endemic nations is real, the WHO warned Wednesday, with more than a thousand cases now confirmed in such countries...

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Iran on Thursday dealt a near-fatal blow to chances of reviving the 2015 Iran nuclear deal as it began removing essentially all the International Atomic Energy Agency monitoring equipment installed under the deal, IAEA chief Rafael Grossi said...

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President Joe Biden urged top U.S. business executives on Thursday to help bolster his plan for an environmentally-friendly economic partnership with Latin America on the first full day of a regional summit riven by tensions over the guest list...

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The rare but life-threatening inflammatory syndrome seen in some children after a coronavirus infection has become even more rare with the Omicron variant causing most infections and more kids vaccinated, according to a new study...

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Leaders attending the Summit of the Americas are poised to issue a declaration pledging measures to curb illegal migration and help countries receiving large number of migrants to cope with them, according to a draft document seen by Reuters on Thursday...

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The spread of monkeypox through small virus particles that linger in the air "has not been reported," the US Centers for Disease Control and Prevention said in guidance posted Thursday. It may spread through "saliva or respiratory secretions" during face-to-face contact, but these secretions "drop out of the air quickly," and studies have found that this method of transmission seems uncommon...

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In line with President-elect Ferdinand “Bongbong” Marcos Jr.’s stated policy at West Philippine Sea (WPS), incoming National Security Adviser (NSA) Clarita Carlos eyes “critical engagement with China” in resolving issues in the resource-rich waters being claimed by Beijing...

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Around 100,000 jobs are expected to be created in the proposed revival of the local salt industry, according to the Department of Labor and Employment (DOLE)...

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Majority of the candidates who ran for national positions in the May polls beat the June 8 deadline for the mandatory filing of their statement of contributions and expenditures (SOCE)...

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US firm 26 Capital Acquisition Corp. expects its merger with the embattled Okada Manila to proceed as planned, but stressed that the ongoing boardroom crisis paints the entire local gaming industry in a bad light...

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Health-care workers urged President-elect Ferdinand Marcos Jr. to name a health secretary with a clean track record while a lawmaker said the incoming administration’s choice of the next agriculture secretary would be crucial due to a possible nationwide nutrition crisis...

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Three presidential and two vice presidential candidates failed to file their statement of contributions and expenditures (Soce) before the June 8 deadline, according to the Commission on Elections (Comelec)...

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More than 3,000 individuals were caught by the Philippine National Police for violating the five-month gun ban which ended on Wednesday midnight...

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The number of followers and a high engagement are the likely key factors in accrediting the bloggers and vloggers who will cover President-elect Ferdinand Marcos Jr. in Malacañang...

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Sen. Grace Poe on Thursday said the Department of Information and Communications Technology (DICT) and the National Telecommunications Commission (NTC) must intensify their efforts to stop widespread text scams, which are victimizing many mobile phone users with false promises of easy work and large earnings...

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Incoming presidential spokesperson Trixie Cruz-Angeles on Thursday said the new administration is looking at regularizing their employees who don’t have plantilla positions yet but are doing regular work...

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The government failed to raise money from its auction of four seized luxury cars on Thursday as it once again drew no bidders...

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All national candidates who won in the May 2022 polls have already submitted their Statements of Contributions and Expenditures to the Commission on Elections (Comelec)...

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Food security should be prioritized by President-elect Ferdinand Marcos Jr. during his term, especially amid a “weak global environment.”...

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Wearing of face masks is no longer required in open spaces or outdoor settings in Cebu province...

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Outgoing Health chief Francisco Duque 3rd said that he is ready to face cases that will be filed against him once he steps down of office on June 30...

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Independent pandemic monitoring organization Octa Research on Thursday described as “concerning” the current COVID-19 situation in Metro Manila, although the metropolis remained under the “low risk classification.”...

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Surigao del Sur Rep. Prospero Pichay Jr. has been convicted of three counts of graft and sentenced to at least 18 years of imprisonment for the misuse of P780 million in funds of the Local Water Utilities Administration (LWUA) in 2009, when he was its chair, in connection with the buyout of a thrift bank...

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The Department of Health (DOH) on Thursday said the country has recorded a 169 percent increase in cases of mosquito-borne chikungunya fever during the first five months of the year...

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HIV remains a “silent epidemic” as Filipinos continue to battle the coronavirus pandemic, according to a report...

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Political scientist Clarita Carlos bared her initial plans as the incoming national security adviser of President-elect Ferdinand "Bongbong" Marcos Jr...

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The next Congress may handle two crucial issues, one which failed to reach a conclusion while the other failing to move forward in the Senate under the 18th Congress, even as new leaders and a new set of lawmakers take charge...

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Higher daily minimum wages and jeepney fares will likely drive inflation beyond the central bank’s target this year, analysts said...

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The Philippine pawnbroking industry continued to grow in terms of assets, network and capitalization as they expanded their products and services, the Bangko Sentral ng Pilipinas (BSP) said on Thursday...

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The Bangko Sentral ng Pilipinas (BSP) is set to launch a news sentiment index (NSI) next year to capture relevant views on key macroeconomic events that may affect the current and emerging economic and financial environment...

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Consumers will feel more of the food crisis toward the last few months of 2022 as the months-long standoff between Ukraine and Russia continue to disrupt the shipment of food items across the globe, the Department of Agriculture (DA) said...

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The government’s economic managers pursued an inappropriate import-heavy model for achieving food sufficiency, which is now being disrupted by the fallout from the Russia-Ukraine crisis, a poultry industry executive said...

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Reviving the Oil Price Stabilization Fund (OPSF) is anti-poor, as the general public would end up subsidizing oil consumers through subsidies from the national budget, the semi-government think tank Philippine Institute for Development Studies (PIDS) said...

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The country’s balance of trade in goods expanded in April, as double-digit gains in imports were sustained and outpaced exports, with the Philippines still bearing the brunt of soaring global commodity prices as a consequence of the Russia-Ukraine war...

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Investment company Manulife Management Investment Philippines said that there needs to be clarity on the new government's economic platform as this will support solid recovery from the pandemic and ease fears of an explosion in the country's fiscal balances...

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Asian stocks slid yesterday as prospects of interest rate hikes sullied global investor sentiment ahead of the policy meeting by the European Central Bank (ECB), while a rally in oil prices rekindled fears of inflation and economic slowdown...

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Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Thursday the country is on its way to “full recovery” despite the lingering COVID-19 pandemic and the prolonged Russia-Ukraine conflict in Eastern Europe...

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Already high pump prices are expected to rise again next week, with diesel going up P3.92, gasoline P0.59, and kerosene by as much as P4.66 a liter as world oil prices remain volatile, industry sources said Thursday...

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