Philippines: Balance of payments position

Source BusinessWorld

The domestic tourism sector is expected to reach pre-pandemic levels by 2024, although near-term challenges such as high inflation may affect demand, according to industry stakeholders...

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External factors are the biggest risks to the Philippine economy, the interagency Financial Stability Coordination Council (FSCC) warned on Tuesday...

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The domestic tourism sector is expected to reach pre-pandemic levels by 2024, although near-term challenges such as high inflation may affect demand, according to industry stakeholders...

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The Department of Health (DOH) is readying the guidelines to start giving COVID-19 booster shots to teenagers aged 12 to 17...

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The incoming governor of the Bangko Sentral ng Pilipinas (BSP) sees inflation breaching the two to four percent target by 1.5 to 1.7 percent this year on soaring oil and commodity prices...

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With just days before he sits as agriculture secretary, President-elect Ferdinand Marcos Jr. will have to contend with numerous challenges that threaten the country’s food supply and stymied the growth of the farm sector for decades...

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It may take two to three years for the Bangko Sentral ng Pilipinas (BSP) to accept new applications for digital banks as it still needs to boost its capacity to regulate these kinds of lenders, according to its incoming chief...

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President Rodrigo R. Duterte has designated Ayala Land, Inc.’s (ALI) office tower in Makati City as a special economic zone...

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The Department of Finance (DoF) upheld a 2017 ruling by the Insurance Commission (IC) declaring the operations of Bureau of Fire Protection Mutual Aid and Beneficiary Association, Inc. (BFPMBAI) as illegal...

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The Fiscal Incentives Review Board (FIRB) said it has sent letters to the investment promotion agencies (IPAs) holding incomplete information on their locators, in a bid to bring them into compliance with reporting rules set by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law...

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The Department of Health (DOH) has approved the recommendation to administer Covid-19 booster shots for adolescents aged 12 to 17...

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The city council has proposed a five-year moratorium on tree-cutting activities while existing and future forest lands are fenced off from settlers and managed by government foresters to protect the remaining forests and parks here...

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Department of Agrarian Reform has maintained its stance that there is no need to amend the Comprehensive Agrarian Reform Law...

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Stressing that farm tourism and farm schools help augment the income of farmers and boost the country’s agriculture, Sen. Cynthia A. Villar said these are among the reasons why she authored the Farm Tourism Development Law or Republic Act 10816...

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Government agencies on Monday officially launched the Philippine Business Hub (PBH), a single online platform for registering businesses...

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Following next month’s pilot issuance of electronic receipts among 100 big corporations, e-commerce firms and exporters, the Bureau of Internal Revenue (BIR) expects small businesses to follow suit starting next year...

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The Philippine government squandered its biggest win in the South China Sea disputes when it decided to remain silent about it, an American maritime expert said...

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Ukrainian and Russian forces remained entrenched in eastern Ukrainian battlegrounds going into Wednesday, June 22, a day of commemoration in both countries to mark the anniversary of Hitler’s invasion of the Soviet Union in 1941...

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The United States is in talks with allies to further restrict Russia's oil revenues by capping the price it would get for its crude, US Treasury Secretary Janet Yellen said during a visit to Canada on Monday (Tuesday in Manila)...

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Twenty-nine Chinese warplanes entered Taiwan's air defense zone on Tuesday in its third-largest daily incursion this year, the island's government said...

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Singapore has confirmed an imported case of monkeypox, the health ministry said late on Tuesday, June 21, the first such case reported in Southeast Asia during this year’s outbreak of the viral disease...

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Taiwan scrambled jets on Tuesday, June 21, to warn away 29 Chinese aircraft in its air defense zone, including bombers that flew to the south of the island and into the Pacific, in the latest uptick in tensions and largest incursion since late May...

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Facebook owner Meta has agreed to change its ad targeting technology and pay $115,000 to settle US government allegations the social media giant allowed discrimination in who saw housing advertisements, authorities said...

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Equities rose in most Asian cities on Tuesday as some stability returned to markets after last week's upheaval, but analysts warned of further pain for traders after central bank officials hinted at more interest rate hikes to reel in inflation...

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South Korea reported its first two suspected cases of monkeypox virus infections in the country, Yonhap News Agency reported late Tuesday, citing health authorities...

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People in socially and economically disadvantaged regions are about half as likely to receive an oral antiviral COVID-19 pill than residents of wealthier zip codes, according to a US government study published on Tuesday...

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The United Nations (UN) will soon launch a global Massive Open Online Course (MOOC) for police officials and members of other law enforcement agencies on freedom of expression and the safety of journalists...

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Business magnate Elon Musk said on Tuesday his $44-billion bid to take over Twitter remained held up by "very significant" questions about the number of fake users on the social networking platform...

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The Myanmar junta’s plans to execute political opponents may amount to war crimes or crimes against humanity, a UN official said Monday...

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President-elect Ferdinand "Bongbong" Marcos Jr. has ordered the Department of Education (DepEd) to review the K to 12 program to determine students' level of comprehension and competitiveness...

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The COVID-19 positivity rate in the National Capital Region (NCR) has already reached five percent, surpassing the World Health Organization’s (WHO) benchmark, independent analytics group Octa Research said on Wednesday...

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The National Identification System will meet its target of 92 million registered by the end of the year, incoming Socioeconomic Planning Secretary Arsenio M. Balisacan said...

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The next administration should consider changing government procurement rules to favor domestic manufacturers in some cases, the Department of Trade and Industry (DTI) said...

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Machines intended to make life better for people are among the main causes of occupational injuries in the workplace, according to data released by the Philippine Statistics Authority (PSA)...

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Malacañang is urging the public to continue adhering to health protocols against Covid-19 after the health department said it has seen the “start of a peak” in coronavirus cases...

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President-elect Ferdinand “Bongbong” Marcos Jr. has vowed to provide Filipino teachers fair salaries, benefits and further training...

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Amid runaway fuel prices, President-elect Ferdinand “Bongbong” Marcos Jr. prefers the prospect of giving fuel subsidies to the transport sector over the proposed suspension of fuel excise taxes...

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The Philippine Statistics Authority (PSA) is working on a printable version of the national ID as the incoming administration wants most Filipinos to be issued the ID by yearend...

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More than P378 million worth of COVID-19 benefits of health care workers have yet to be liquidated, the Department of Health (DOH) reported yesterday...

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The country is prepared for full face-to-face classes despite rising COVID-19 cases, Health Undersecretary Maria Rosario Vergeire said...

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The COVID-19 average daily cases in the National Capital Region (NCR) climbed to over 200, while the positivity rate ballooned to 4.4 percent, the Department of Health (DOH) reported...

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Despite an increase in the number of Covid-19 cases in the National Capital Region (NCR or Metro Manila), there is no need to be alarmed yet as the hospital utilization rate remained at low risk, independent tracker OCTA Research said...

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The Philippines’s exit from the low-interest rate regime will be gradual and the Bangko Sentral ng Pillipinas (BSP) intends to make sure this strategy will not stoke inflation or other risks that could imperil the economy...

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The Metropolitan Manila Development Authority (MMDA) has noted a decrease in the number of vehicles traversing EDSA as a result of oil price increases triggered by Russia's invasion of Ukraine...

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Authorities are making every effort to make sure the June 30 oath-taking of President-elect Ferdinand Marcos Jr. goes on without a hitch...

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The Luzon grid will be placed under yellow alert on Tuesday afternoon, beginning 1 p.m. to 4 p.m, the National Grid Corporation of the Philippines (NGCP) announced...

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As of June 20 ,over 71 million passengers have benefited from the third phase of the Service Contracting Program of the Land Transportation Franchising and Regulatory Board (LTFRB)...

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Over 600,000 families in the National Capital Region (NCR) would be displaced and would experience hunger if the alert level were raised again due to a spike of COVID-19 cases, according to Albay 2nd district representative Joey Salceda...

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Around 26,000 provincial bus workers, including drivers, have lost their jobs since only a limited number of buses are being dispatched in light of the continuing increase in fuel prices, the Senate energy committee learned on Tuesday...

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President Rodrigo Duterte has declined an offer for him to serve as drug czar of his successor, President-elect Ferdinand Marcos Jr., the Palace said yesterday...

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The administration of President-elect Ferdinand "Bongbong" Marcos Jr. is aiming to release most of the national identification cards before the end of the year to help in the speedy distribution of assistance to the vulnerable sectors saddled by rising prices of basic goods...

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The country's manufacturing sector is expected to continue to grow this year, Trade Secretary Ramon Lopez said on Tuesday...

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President-elect Ferdinand R. Marcos, Jr.’s campaign promise to lowering the price of rice to P20 per kilo can be accomplished later in his presidency, but will require production and subsidies to ramp up dramatically, farm industry officials and analysts said...

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Infrastructure spending surprisingly picked up in April despite the ban on new projects ahead of the May elections, the Department of Budget and Management (DBM) said...

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Revenue collectors have raised more than P453 billion worth of taxes through the fuel marking program by reinforcing their combined efforts against potential oil smuggling...

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Filipino consumers will have no choice but to bite the bullet as prices of certain food items may continue to increase due to the weakening peso...

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The Philippine peso slid further to 54.265 against the US dollar — still at its weakest in three years and eight months or since October 2018 — after brushing near a 17-year low at 54.40:$1...

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The next administration should consider changing government procurement rules to favor domestic manufacturers in some cases, the Department of Trade and Industry (DTI) said...

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The Financial Stability Coordination Council (FSCC) said rising interest rates and oil prices are the key external risks to financial stability and to the economic recovery...

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The Philippine Port Authority (PPA) said strengthening port resiliency using a good forecast system will mitigate the effects of climate change...

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The Bureau of the Treasury (BTr) on Tuesday (June 21) raised P34.9 billion through new 10-year bonds, slightly short of the amount it intended to borrow as yield picked up alongside “supersized” interest rate hikes here and abroad...

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The agriculture sector is already in crisis, the country's incoming socioeconomic planning secretary and National Economic and Development Authority (NEDA) chief said Tuesday...

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Ten investment promotion agencies (IPAs) still need to submit complete formal reports as mandated by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, the government body that grants tax incentives to registered business enterprises said Tuesday...

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