EDITORIAL - Handover

Source Philippine Star

Data from the Bankers Association of the Philippines (BAP) showed that the local currency opened trade at P54.9 to a dollar on Wednesday, traded at a high of P55.1 to a dollar and a low at P54.88 to a dollar before closing the day’s trade at P55.06 to a dollar. The total traded volume was at $1.28 billion on Wednesday, lower than the $1.65 billion total traded volume on Tuesday...

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State-run corporations’ cash dividend remittances since President Duterte took office in 2016 hit P374.54 billion, the highest ever amount collected under any administration...

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More Filipinos opened their own bank accounts at the end of last year, as many of them were forced to pay for services online amid a coronavirus pandemic...

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S&P Global Ratings kept its gross domestic product (GDP) growth forecast for the Philippines at 6.5 percent for this year, but said scarring is largest in the country, as output would remain below pre-COVID trend in several Asia-Pacific economies...

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Despite the effects of the pandemic and the Russia-Ukraine war, the Philippine economy is projected to grow by 6 to 6.5 percent this year, economists said on Wednesday...

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Amid problems plaguing the day-to-day commute of Filipinos, the government has scrapped a much touted bus rapid transit (BRT) line in Metro Manila having been overshadowed by slow progress, lack of will as well as the effect of the pandemic...

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Five Metro Manila areas earlier declared to be under a moderate risk for COVID-19 will revert to a low-risk classification after the metrics for identifying the risk were revised, the Department of Health (DOH) said Wednesday...

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The IT and Business Process Association of the Philippines (IBPAP) said the long-term implementation of work from home (WFH) or hybrid work can be better addressed through the amendment of a provision in the Corporate Recovery and Tax Incentives for Enterprises (Create) Law...

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President Rodrigo Duterte has approved a new measure seeking to boost anti-human trafficking efforts by allowing law enforcers to intercept the mobile phones and other electronic devices of suspected violators...

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LGBTQIA+ students scored a “win” in a memorandum released by the Department of Education National Capital Region (DepEd NCR) office allowing them to attend their graduation ceremony wearing clothes that align with their gender identity...

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To help businesses grow and thus provide more jobs for Filipinos, President Rodrigo Duterte signed a landmark law in 2018 to streamline government procedures and requirements for entrepreneurs to set up shop.

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The Securities and Exchange Commission (SEC), on Wednesday, affirmed its 2018 decision to revoke the certificates of incorporation of Rappler, Inc. and Rappler Holdings Corporation (RHC) for their alleged violation of constitutional and statutory restrictions on foreign ownership in mass media...

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The Land Transportation Franchising and Regulatory Board (LTFRB) granted the petition to increase the minimum fare for all public utility jeepneys (PUJs) amid the continuous rise in the prices of fuel products...

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The National Telecommunications Commission has issued a memorandum directing all television and radio companies to submit their block time deals for the agency’s approval...

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Air travelers at the Ninoy Aquino International Airport (NAIA) can now declare goods and currency via online using the electronic baggage declaration form, making the Philippines the third country in Asia to use the system...

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Manila is one of the least expensive cities in the world for employees working abroad, according to Mercer’s 2022 Cost of Living survey. Surprisingly, Asia dominated the world’s most costly city rankings, with four cities in the region making it to the top 10, including Hong Kong SAR (1st), Singapore (8th), Tokyo (9th), and Beijing (10th)...

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German firms continue to be optimistic about business prospects in the Philippines, results of a survey conducted by the German-Philippine Chamber of Commerce and Industry (GPCCI) showed...

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Many poorer Filipinos find it costly to open and maintain bank accounts, a deterrent to wider financial inclusion in the Philippines, the World Bank said...

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Taiwan on Wednesday rebuffed a complaint from the Philippines about live fire drills around a Taiwan-controlled island deep in the South China Sea, saying it had the right to do so and always issues a warning of its exercises...

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Investors continue to show confidence in the Philippines as six local companies have made it to the list of Institutional Investor's top Asian companies...

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The Vice President-elect also received two women ambassadors based in Manila—Romanian Ambassador Răduţa Dana Matache and French Ambassador Michèle Jeannine Andree Boccoz...

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The UN Conference on Trade and Development (Unctad) said the ongoing Ukraine-Russia war is putting further pressure on global logistics, hiking global vessel demand and exacerbating shipping costs worldwide...

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The energy crisis burdening economies around the world is seen to be temporary, but a shift to clean energy should be implemented immediately to avoid further repercussions, the Asian Development Bank (ADB) said...

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Indirect talks in Qatar’s capital between Iran and the US on reviving a 2015 nuclear deal have concluded with “no progress made”, a State Department spokesperson said late Wednesday...

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Fears of a recession caused by sharp interest rate hikes aimed at fighting soaring inflation sent Asian and European markets tumbling on Wednesday, tracking a sharp drop on Wall Street...

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The World Health Organization says “sustained transmission” of monkeypox worldwide could see the virus begin to move into high-risk groups, such as pregnant women, immunocompromised people and children...

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Argentina’s economic alarm bells are ringing loudly with fears of a global recession and spiraling inflation stoking investor fears over possible defaults, missed targets with the International Monetary Fund (IMF), and political unrest...

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Increasingly large majorities in the developed world see China unfavorably, with record levels of criticism in the United States, Germany and South Korea, a survey said Wednesday...

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The World Health Organization (WHO) on Wednesday appealed for vigilance to ensure monkeypox does not spread among more vulnerable groups, such as children...

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NATO on Wednesday branded Russia the biggest “direct threat” to Western security after its invasion of Ukraine and agreed plans to modernise Kyiv’s beleaguered armed forces, saying it stood fully behind Ukrainians’ “heroic defence of their country”...

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The leaders of the United States, South Korea and Japan on Wednesday expressed deep concern over North Korea’s missile tests and said they would cooperate more closely to address the threat posed by Pyongyang...

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NATO invited Sweden and Finland on Wednesday to join the military alliance in one of the biggest shifts in European security in decades after Russia’s invasion of Ukraine pushed Helsinki and Stockholm to drop their traditional neutrality...

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For all its tough talk against Russia, the UK’s government is failing to enforce its promises to clean up dirty foreign money, a hard-hitting report by MPs said Thursday...

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The European Union approved a plan to end the sale of vehicles with combustion engines by 2035 in Europe, the 27-member bloc announced early Wednesday, in a bid to reduce CO2 emissions to zero...

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The Philippine Economic Zone Authority (PEZA) said the proposal to let business process outsourcing (BPO) companies transfer from PEZA to the Board of Investments (BOI) is misleading because under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, all Investment Promotion Agencies (IPAs) now have the same incentives to offer to investors and locators...

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With 68 percent of Filipinos saying they expect him to perform “very well” in his first 100 days in office, incoming President Ferdinand “Bongbong” R. Marcos Jr. faces high expectations...

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The Department of Health (DoH) on Wednesday reminded those who will attend the inauguration of President-elect Ferdinand “Bongbong” Marcos Jr. to observe minimum public health standards amid the continuous increase in Covid-19 cases...

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Ferdinand Marcos Jr. will find himself back in Malacañang after he takes his oath as the 17th President of the Republic of the Philippines at noon today, June 30, 2022, 36 years after his father was ousted and forced out of the Palace...

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The responsibility of procuring COVID-19 vaccines should be passed on to citizens as the country gradually transitions out of the pandemic, outgoing presidential adviser for entrepreneurship Joey Concepcion said Thursday...

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The government began distributing cash subsidy for the poor on Wednesday, June 29, under the Targeted Cash Transfer (TCT) Program...

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President-elect Ferdinand Marcos Jr. has designated outgoing Solicitor General Jose Calida as chairman of the Commission on Audit and Jose Arnulfo “Wick” Veloso as the general manager of the Government Service Insurance System...

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The national government has secured P58 billion in dividends from government-owned and -controlled corporations (GOCCs) in the first half of the year, the Department of Finance (DoF) reported on Wednesday...

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The Philippine Ports Authority (PPA) has awarded more port projects, including the construction of a cruise ship port in Coron, Palawan province southwest of the Philippine capital...

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Philippine Crop Insurance Corp. (PCIC) is now under the Insurance Commission (IC), which will give the regulator the power to examine the state-run agricultural insurer’s operations...

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The Department of Health (DOH) said about P365 million in previous funds released for the benefits of health workers have yet to be accounted for by some private and public health facilities...

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Albay Rep. Joey Salceda on Wednesday called for the lifting of the deployment ban on Filipino workers seeking employment abroad to help reduce the impact of the peso’s depreciation against the US dollar...

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The Securities and Exchange Commission (SEC) has affirmed its order shutting down the online news site Rappler, but its Chief Executive Officer Maria Ressa said that they will appeal the ruling...

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The Philippines has seen significant improvement in its push toward financial inclusion as 51 percent of Filipino adults now have access to financial institutions, largely accelerated due to the pandemic...

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Thousands of Muslim pilgrims bound for the yearly hajj, or pilgrimage to Mecca, have been stranded at Ninoy Aquino International Airport (NAIA) since June 19 because of the delay in the release of their passports or visas, which they expected on the day of their flight...

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Not a dry eye could be seen at the Quezon City Reception House on Wednesday as Vice President Leni Robredo vacated her office a day before her term ends...

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The economic blueprint of the Marcos administration will focus on jobs to grow the economy by as much as 8 percent and slash poverty incidence to a single-digit, according to the country’s new Socioeconomic Planning Secretary...

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The incoming Marcos Jr. administration faces risks of unrest due to high food prices as well as slower economic growth as public spending lagged at the start of this year, think tanks said...

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The government is planning to open the renewable energy (RE) sector to foreign investors, according to state planning agency National Economic and Development Authority (Neda)...

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A positive business outlook is foreseen by the majority of the German business community in the Philippines, as shown by the results of the survey conducted by the German-Philippine Chamber of Commerce and Industry (GPCCI)...

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President-elect and incoming Agriculture Secretary Ferdinand R. Marcos Jr. must shell out at least P15 billion to expand the government’s fertilizer subsidy program, which will help farmers raise local rice production...

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The demand for Philippine office spaces more than doubled to 255,000 square meters (sq.m.) this quarter from end-March, the highest since the coronavirus pandemic forced workers to stay and work from home in 2020, according to Leechiu Property Consultants...

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The Duterte administration left a “very good” and lasting legacy through the infrastructure and transportation projects under the massive and ambitious “Build, Build, Build” (BBB) Program despite the challenges brought by the global health crisis...

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Local share prices pulled back yesterday as investors paused after three days of bargain hunting...

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Residential real estate purchases will likely slow down in the coming months as lower and middle-income Filipinos brace for rising inflation and interest rates, Leechiu Property Consultants (LPC) said Wednesday...

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To guard consumers against fraud and cyberattacks, the Bangko Sentral ng Pilipinas (BSP) has ordered banks and other financial firms to ramp up security measures, especially when sending text messages or emails to clients...

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Firms belonging to the information technology and business process management (IT-BPM) industry must be given the authority to register with the investment promotion agency (IPA) of their choice for ease of doing business, the IT and Business Process Association of the Philippines (IBPAP) said...

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Digital transformation, eliminating red tape, more foreign investments and increased empowerment for small businesses will be the Trade department's main priorities under the Marcos administration...

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