June 13, 2022
Philippines ranks 88th and 93rd in freedom and prosperity lists
Source BusinessWorld
Strong fundamentals support peso – DoF
The Manila Times, June 13, 2022
Mayvelin U. Caraballo
Despite the Philippine peso taking a beating against the US dollar on Friday, the Department of Finance (DoF) said strong macroeconomic fundamentals continue to support the currency...
Govt debt servicing reduced in April
The Manila Times, June 13, 2022
Mayvelin U. Caraballo
The national government's debt servicing was reduced in April 2022 compared to payments made a year earlier due to lower amortization expenses, data issued by the Bureau of the Treasury showed...
Gov’t must continue giving investors tax breaks, other perks
BusinessWorld, June 13, 2022
Revin Mikhael D. Ochave
The Philippines should continue offering “globally competitive” fiscal and non-fiscal incentives to attract more foreign investments that could boost the economy, the Philippine Economic Zone Authority (PEZA) chief said, after a business process outsourcing (BPO) firm decided to give up these perks to keep its current work setup...
Bulusan erupts anew; ashfall reaches Albay
Philippine Daily Inquirer, June 13, 2022
Ma. April Mier-Manjares and Michael B. Jaucian
Mt. Bulusan erupted anew early on Sunday, its phreatic or steam-driven eruption stronger than the previous one a week earlier, sending residents back to evacuation centers as the volcano’s ashfall reached as far as this provincial capital of Albay about a hundred kilometers away...
76 WTO states for keeping e-commerce duties freeze
BusinessMirror, June 13, 2022
Andrea E. San Juan
The Philippines and 75 other states support the extension of the moratorium on e-commerce customs duties as they recognize the importance of maintaining certainty for businesses and consumers especially amid the pandemic, according to the World Trade Organization (WTO)...
Bourse goes full virtual trading
Daily Tribune, June 13, 2022
Chito Lozada
With the unabated march towards digitalization of the business sector, the Philippine Stock Exchange Inc (PSE) decided to permanently close its trading floor on 24 June after the pandemic hastened its migration to “floorless trading.”...
Philippines foreign debt-to-GDP ratio still lowest in ASEAN
Philippine Star, June 13, 2022
The Philippines still has the lowest ratio of foreign debt against domestic output despite posting the third largest expansion in the external debt ratio among five Southeast Asian nations...
Cebu police side with gov, defy DILG on mask issue
Manila Standard, June 12, 2022
The police leadership in Cebu has taken the side of Gov. Gwendolyn Garcia and supported her order to ease the outdoor mask rule in the province despite stiff opposition from the Department of Interior and Local Government and the Department of Health...
DTI mulls requests to trim SRP list
Manila Standard, June 13, 2022
Othel V. Campos
The Department of Trade and Industry (DTI) is considering delisting several products from the Suggested Retail Price (SRP) bulletin following several requests from Basic Necessities and Prime Commodities (BNPC) manufacturers to remove their products from the SRP list...
Duque repeats DOH stand on face mask use to curb COVID
Manila Standard, June 12, 2022
Willie Casas
Wearing a face mask is one of the most appropriate measures to prevent the spread of COVID-19 infections, Health Secretary Francisco Duque III stressed Sunday...
Cayetano hails Supreme Court decision on tobacco regulation
Manila Standard, June 12, 2022
Macon Ramos-Araneta
The Supreme Court ruling sustaining the authority of the Food and Drug Administration (FDA) to regulate cigarettes and tobacco products is a “major victory” for advocates of tobacco control and public health, Sen. Pia Cayetano said...
Eastern Visayas workers get P50 minimum wage raise
Manila Standard, June 11, 2022
Vito Barcelo
Minimum-wage workers in the Eastern Visayas region will soon receive an increase in their daily pay, the Department of Labor and Employment (DOLE) announced...
New DICT chief wants 24/7 e-govt service
The Manila Times, June 13, 2022
Francis Earl Cueto
The Marcos administration plans to set up a 24/7 electronic-government (e-government) service so Filipinos can do business with the government anytime of the day, and any day of the week...
System eyed for wider fine art ownership
The Manila Times, June 13, 2022
Ed Paolo Salting
Financial technology venture studio UBX has signed a memorandum of understanding with Unit 256 Ventures Inc. to co-develop Artifract.io, a platform that democratizes fine art ownership by fractionalizing them as non-fungible tokens (NFTs)...
PHL firms may now register online via CRS–DENR exec
BusinessMirror, June 13, 2022
Companies operating in the Philippines may now register online via the Company Registration System (CRS) of the Department of Environment and Natural Resources-Environmental Management Bureau (DENR-EMB)...
Integration advances forestry technology
The Manila Times, June 12, 2022
Elizabeth K. Gardner
Through integration of aerial and ground-based mobile mapping sensors and systems, a team of Purdue digital forestry researchers has used advanced technology to locate, count and measure over a thousand trees in a matter of hours...
Balancing act with China to continue
The Manila Times, June 13, 2022
Bernadette E. Tamayo
The incoming administration of Ferdinand "Bongbong" Marcos seems set in maintaining the present balancing act in its relations with China — treating it as a partner but not ruling out diplomatic protests when warranted...
China testing PH resolve to keep Ayungin Shoal
Philippine Daily Inquirer, June 13, 2022
Frances Mangosing
The latest reported incidents in Ayungin (Second Thomas) Shoal in the West Philippine Sea illustrate China’s capacity to control the area despite its being occupied by the Philippines through the decrepit Philippine Navy ship BRP Sierra Madre, according to a maritime expert...
PH walking tightrope between 2 superpowers – Lorenzana
Philippine Daily Inquirer, June 13, 2022
Frances Mangosing
The Philippines is “walking on a tightrope” between rival superpowers the United States and China, Defense Secretary Delfin Lorenzana said on Saturday...
PH, Thailand agree to settle cigarette dispute
The Manila Times, June 13, 2022
Anna Leah E. Gonzales
The Philippines and Thailand recently agreed to resolve the customs valuation dispute involving Philippine tobacco products, the World Trade Organization (WTO) said...
Intra-Asean exchange for climate programs eyed
The Manila Times, June 13, 2022
Mayvelin U. Caraballo
Finance Secretary Carlos Dominguez 3rd is proposing an intra-Association of Southeast Asian Nations (Asean) exchange of information on climate action projects backed by the Asian Development Bank (ADB)...
Philippines, UAE boost economic cooperation
The Manila Times, June 12, 2022
Javier Joe Ismael
The Philippines and the United Arab Emirates (UAE) signed an investment promotion and protection agreement (IPPA) on Thursday in Dubai...
PH has huge untapped export potential to EU
Manila Standard, June 12, 2022
Ed Paolo Salting
The Confederation of Danish Industry (DI) has recently announced that the shipment of goods to Denmark has increased significantly...
Manila seeks WTO deal on SSM, fisheries
BusinessMirror, June 13, 2022
Jasper Y. Arcalas
The Philippines is aiming to secure a multilateral agreement that would strengthen the special safeguard mechanism (SSM) and protect its territorial waters and resources at the ongoing 12th Ministerial Conference (MC12) of the World Trade Organization (WTO)...
Three deals with Israel expected to broaden B2B contracts with PHL
BusinessWorld, June 12, 2022
Alyssa Nicole O. Tan
Three newly signed agreements with Israel are expected to enhance business-to-business (B2B) interaction between Israel and the Philippines, bringing bilateral trade beyond pre-pandemic levels, the Israeli embassy said...
PH to set up embassy in Ukraine, says DFA chief
CNN Philippines, June 11, 2022
CNN Philippines Staff
The Philippines will establish an embassy in Ukraine, Foreign Affairs Secretary Teodoro Locsin, Jr. said in a tweet on Saturday...
UN climate champion urges new administration to boost commitment to tackling climate change
BusinessWorld, June 13, 2022
Arjay L. Balinbin
President-elect Ferdinand “Bongbong” R. Marcos, Jr. should strengthen the country’s commitment to tackling climate change to avoid putting it at greater risk, a United Nations (UN) climate champion said...
UN vows continued support for PH peace process under Marcos govt
The Manila Times, June 11, 2022
Catherine S. Valente
The United Nations (UN) has reaffirmed its commitment to continue supporting the Philippine peace process under the administration of President-elect Ferdinand "Bongbong" Marcos Jr...
Ministers gather for high-stakes WTO meet
The Manila Times, June 13, 2022
Agence France-Presse
The World Trade Organization (WTO) gathers ministers in Geneva on Sunday (Monday in Manila) to tackle pressing issues including global food security threatened by Russia's invasion of Ukraine, overfishing and equitable access to Covid vaccines...
ADB experts pitch inflation busters for rich, poor
BusinessMirror, June 13, 2022
Cai Ordinario
As commodity prices continue to spiral, poor households should consume less wheat-based foods and increase their consumption of more accessible grains like rice, according to economists from the Asian Development Bank (ADB)...
Experts: Monkeypox hard to detect
Manila Standard, June 12, 2022
Agence France-Presse
US health experts said the cases of monkeypox that are being detected at the moment do not necessarily display the usual symptoms, making the disease more difficult to diagnose...
Rebranded McDonald's restaurants are unveiled in Russia
CNN Philippines, June 13, 2022
Zahra Ullah, Fred Pleitgen and Josh Pennington, CNN
The golden arches and Big Mac may have gone, but Russians saw 15 McDonald's restaurants reopen on Sunday under new branding and ownership, according to its owner Alexander Nikolaevich Govor...
How psilocybin, the psychedelic in mushrooms, may rewire the brain to ease depression, anxiety and more
CNN Philippines, June 13, 2022
Sandee LaMotte, CNN
Shrooms, Alice, tweezes, mushies, hongos, pizza toppings, magic mushrooms — everyday lingo for psychedelic mushrooms seems to grow with each generation. Yet leading mycologist Paul Stamets believes it's time for fans of psilocybin mushrooms to leave such childish slang behind...
UN agency urges Iran to resume stalled nuclear talks 'now'
Philippine Star, June 13, 2022
Agence France-Presse
The International Atomic Energy Agency on Sunday urged Iran to resume talks "now" to avoid a crisis that could make it "extremely more difficult" to salvage the 2015 nuclear accord...
Global nuclear arsenal to grow for first time since Cold War – think-tank
Rappler, June 13, 2022
Reuters
The global nuclear arsenal is expected to grow in the coming years for the first time since the Cold War while the risk of such weapons being used is the greatest in decades, a leading conflict and armaments think-tank said on Monday, June 13...
US FDA staff says Moderna COVID-19 vaccine effective and safe for children
Rappler, June 12, 2022
Reuters
US Food and Drug Administration staff reviewers on Friday, June 10, said Moderna Inc’s COVID-19 vaccine appears safe and effective for use in children aged 6 months to 17 years old as a committee of scientists will meet next week to vote on whether to recommend the regulator authorize the vaccine in children...
Despite major gas deal, energy giant warns consumers to turn down heating
ABS-CBN News, June 13, 2022
Tim Witcher, Agence France-Presse
TotalEnergies chief Patrick Pouyanne hailed a deal to expand production in the world's biggest natural gas field in Qatar but told AFP that more projects are needed and consumers will still have to "turn down the heating" to ease the growing price crisis...
Covid-19 cases rise in China, 'ferocious' Beijing bar cluster and Inner Mongolia trigger worries
ABS-CBN News, June 13, 2022
Ji Siqi, South China Morning Post
China reported an uptick in Covid-19 cases on Sunday, as the capital Beijing battled a resurgence in infections and a border prefecture in Inner Mongolia became the new epicentre of its latest wave...
Long COVID-19 likely in those with preexisting conditions
Philippine Daily Inquirer, June 12, 2022
Kathleen de Villa
People with preexisting conditions who got severely and critically infected with Delta and earlier strains of the coronavirus are more prone to develop “long COVID-19,” according to pulmonologist Dr. Maricar Limpin of the Philippine College of Physicians (PCP)...
Govt employees urged to be future-ready
The Manila Times, June 13, 2022
Kaithreen Cruz
To mark the country's 124th Independence Day, the Civil Service Commission (CSC) exhorted government employees to be future-ready and prepare for the challenges that could affect public service delivery in the new normal...
Duque: DOH did ’very well’ in its COVID responses
Manila Standard, June 13, 2022
Willie Casas
The Department of Health (DOH) did “very well” in the COVID-19 pandemic response despite its limited resources, Secretary Francisco Duque III said in a television program...
NCR posts COVID uptick
Manila Standard, June 12, 2022
Cases rising in 14 Metro areas, QC under yellow status for surge. Majority of the cities in Metro Manila have posted an uptick in COVID-19 cases, the Department of Health said on Saturday, adding the positive growth may be due to the presence of Omicron subvariants and the waning immunity of the population since many have not yet received their booster shots...
VP, CJ, senators extol sacrifices for liberty
Manila Standard, June 13, 2022
Rey E. Requejo and Rio N. Araja
Top government officials marked the country’s 124th Independence Day by acknowledging the sacrifices of the past as the common thread that binds all Filipinos together and emphasizing the need to move forward as a unified nation...
Duterte hopes for ‘ride’ on Coast Guard ship in WPS ‘as a civilian’
BusinessMirror, June 13, 2022
Bernadette D. Nicolas
President Duterte on Sunday said he wants to ride with the Philippine Coast Guard to the West Philippine Sea as a civilian someday in a bid to assert “what is ours.”...
Govt met only 86 percent of housing targets–DHSUD
BusinessMirror, June 13, 2022
Cai Ordinario
The Duterte administration was able to build 1.08 million housing units as of the end of 2021, according to the Department of Human Settlements and Urban Development (DHSUD)...
SEC retains highest CoA audit mark for fourth consecutive year
BusinessWorld, June 13, 2022
Luisa Maria Jacinta C. Jocson
The Securities and Exchange Commission (SEC) has received an “unmodified opinion” from the Commission on Audit (CoA) for the fourth consecutive year due to its “transparent and sound management of public funds,” the regulator said...
DMW cannot touch POEA 2022 budget, DBM asserts
Manila Standard, June 12, 2022
Tina Rose Marie Canda
The Department of Migrant Workers (DMW) cannot touch the 2022 budget of the Philippine Overseas Employment Administration (POEA)...
BoI clarifies audit report on PPE
The Manila Times, June 12, 2022
Mayvelin U. Caraballo
The Board of Investments (BoI) has clarified reports based on the Commission on Audit (CoA) findings that the agency did not provide donated protective gear to the intended recipients until later...
Transport group wants OPSF back
The Manila Times, June 12, 2022
Arlie O. Calalo
The 1-United Transport Alliance Koalisyon (1-UTAK) on Saturday called for the revival of the Oil Price Stabilization Fund (OPSF) in the wake of the spiraling oil price hikes that have largely affected the transport sector...
IATF’s fate hangs
Daily Tribune, June 13, 2022
Jom Garner
The fate of the country’s pandemic task force is in the hands of the incoming administration of President-elect Ferdinand Marcos Jr., the Department of Health (DoH) said Sunday...
AMLC checks realty firms
Daily Tribune, June 13, 2022
TDT
The Anti-Money Laundering Council (AMLC) has been silently moving against property developers as conduit for the suspicious flow of finances, considering that real estate has become a favorite channel to recycle underworld money, mainly from narcotics, and may later on land in the hands of terrorist groups...
Diokno plans six-year fiscal framework
Daily Tribune, June 12, 2022
Chino S. Leyco
Incoming Finance Secretary Benjamin E. Diokno wants to put in place a formal fiscal plan that will take control of government expenditures, set clear borrowing and revenue programs, as well as design policies to manage budget deficits in the next six-years...
Quezon City remains under Alert Level 1 for COVID-19
Philippine Star, June 13, 2022
Amid rising cases of COVID-19 in Quezon City, the Department of Health (DOH) reported yesterday that the city remains under Alert Level 1 category...
Philippines logs new ASF cases
Philippine Star, June 13, 2022
Catherine Talavera
African Swine Fever (ASF) continues to spread across the Philippines, with 250 new cases reported nationwide...
Century-old Cagayan de Oro monument bears skeletal remains of old town heroes
Rappler, June 13, 2022
Herbie Gomez
Cagayan de Oro Mayor Oscar Moreno on Sunday morning, June 12, delivered his final Independence Day message as the city’s leader, days before he ends a colorful political career that spanned 24 years...
308 new COVID-19 cases recorded June 12, active tally climbs to 2,918
GMA News, June 13, 2022
Three hundred eight new cases of COVID-19 were reported on Sunday, and the number of active infections climbed to 2,918, data from the Department of Health (DOH) showed...
Buy local goods to sustain recovery, DTI urges Pinoys
BusinessMirror, June 13, 2022
The Department of Trade and Industry (DTI) urged Filipinos to patronize locally made products, to sustain the country’s economic recovery...
Peso still stable despite inflationary pressures, US Fed actions—Finance
Manila Standard, June 12, 2022
Julito G. Rada
The peso remains stable, backed by the country’s strong macroeconomic fundamentals and despite external headwinds from tighter monetary policy actions by the US Federal Reserve and inflationary pressures from heightened global fuel prices, the Department of Finance said over the weekend...
Government bank opens P1-billion loan program for rural banks going digital
BusinessWorld, June 13, 2022
Tobias Jared Tomas
Land Bank of the Philippines (LANDBANK) has launched a P1-billion lending program to digitalize the banking operations of countryside financial institutions in order to reach more unbanked Filipinos...
Downward bias seen for PH shares
The Manila Times, June 13, 2022
Ed Paolo Salting
Philippine shares are likely to trade sideways this week with a downward bias as recent local and global economic data can have an effect on investor sentiment...
Rody thanks Japanese supporting finishing MM subway project
Manila Standard, June 12, 2022
Outgoing President Rodrigo R. Duterte on Sunday expressed gratitude to the Japanese government for supporting the Philippines’ economic development as he cited the Asian neighbor’s efforts to complete the country’s first-ever Metro Manila Subway Project (MMSP)...
Electronics exports face headwinds as prices soar
Philippine Star, June 13, 2022
Louise Maureen Simeon
The electronics sector, the country’s top export, is facing headwinds in the near-term amid price pressures due to global tensions and the economic slowdown in China...
PSE shifting to ‘floorless trading’
Philippine Star, June 13, 2022
Iris Gonzales
The Philippine Stock Exchange (PSE) is closing its trading floor to pave the way for a full shift to “floorless trading“...
NEW ACQUISITION
Big data and machine learning in quantitative investment
by Tony Guida
Publisher: Chichester, W. Sussex, United Kingdom: Wiley, 2019
HG 4521 G85 2019 B-38486
Abstract: Big Data and Machine Learning in Quantitative Investment is not just about demonstrating the maths or the coding. Instead, it’s a book by practitioners for practitioners, covering the questions of why and how of applying machine learning and big data to quantitative finance. The book is split into 13 chapters, each of which is written by a different author on a specific case. The chapters are ordered according to the level of complexity; beginning with the big picture and taxonomy, moving onto practical applications of machine learning and finally finishing with innovative approaches using deep learning. The book gains a solid reason to use machine learning, it can frame your question using financial markets laws and understands how machine learning is becoming ever more sophisticated. Machine learning and big data are not a magical solution, but appropriately applied, they are extremely effective tools for quantitative investment — and this book shows you how.