March 14, 2022
LGUs urged: Let schools hold face-to-face classes
Philippine Star, March 14, 2022
Paolo Romero
With the continued decline in COVID-19 cases and the easing of pandemic-related restrictions nationwide, Sen. Sherwin Gatchalian urged yesterday local government units (LGUs) to allow schools in their areas to conduct limited face-to-face classes...
High inflation puts GDP target at risk
BusinessWorld, March 14, 2022
Luz Wendy T. Noble
The Philippines may find it more challenging to reach the government’s 7-9% economic growth target this year, as household consumption will likely take a hit from higher inflation caused by a prolonged Russia-Ukraine war, an analyst said...
PH growth estimate slashed due to Russia-Ukraine war
Philippine Daily Inquirer, March 14, 2022
Ben O. de Vera
The impact of Russia’s invasion of Ukraine on the global economy, especially expensive oil, will spill over to the Philippines by way of slower growth this year as consumer spending takes a hit, plus harder-to-achieve sustainability goals, think tanks said...
PHL debt payments up 25%, reach P1.2T in 2021
BusinessMirror, March 14, 2022
Bernadette D. Nicolas
The national government shelled out more money to repay its debts last year compared to a year ago, with its debt service bill hitting P1.2 trillion as the Covid-19 pandemic raged on...
PH trade deficit widened 63% in Jan
Philippine Daily Inquirer, March 12, 2022
Ben O. de Vera
Foreign merchandise trade grew for the 12th-straight month in January, but the sustained surge in imports that outpaced exports widened the Philippines’ trade deficit, putting added pressure on the peso to further weaken against the US dollar...
Gov’t to foreign firms: Promote Filipino products
BusinessWorld, March 14, 2022
Revin Mikhael D. Ochave
The Philippine government has called on foreign retailers to promote Filipino-made products in their shops under the implementing rules and regulations (IRR) of the amended Retail Trade Liberalization Act (RTLA)...
Patent filing assistance program extended to Dec. 31
BusinessWorld, March 13, 2022
Revin Mikhael D. Ochave
The Intellectual Property Office of the Philippines (IPOPHL) said patent filing assistance on offer to inventors under the Patent Cooperation Treaty (PCT) has been extended until Dec. 31, facilitating such registrations across multiple jurisdictions...
Econ reform bills to boost growth
The Manila Times, March 14, 2022
Anna Leah E. Gonzales
The passage of economic reform bills, further reopening of the economy and the ratification of the Regional Comprehensive and Economic Partnership (RCEP) agreement will help the Philippine economy grow by 7 to 9 percent this year, the British Chamber of Commerce of the Philippines (BCCP) said...
SEC to firms: allow remote stockholders, board meetings beyond pandemic
Philippine Daily Inquirer, March 14, 2022
Doris Dumlao-Abadilla
As the Philippines starts to shift to a postpandemic way of life, the Securities and Exchange Commission (SEC) has called on corporations to allow shareholders or members to participate in meetings virtually, not just an interim measure but as an alternative mode moving forward...
La Salle-DOST project seeks to preserve Mangyan script
Philippine Daily Inquirer, March 13, 2022
Jane Bautista
An old, disparaging myth about the Mangyan tribes in the island of Mindoro was that they had tails “half a span long.”...
AMRO raises PH growth outlook
The Manila Times, March 12, 2022
Mayvelin U. Caraballo
The Asean+3 Macroeconomic Research Office (AMRO) has raised the growth outlook for the Philippine economy, but their forecast remains below the government's target as Covid-19 pandemic remains a key risk...
Goldman Sachs cuts PH 2022 growth forecast
Philippine Daily Inquirer, March 12, 2022
Ben O. de Vera
Investment banking giant Goldman Sachs has slashed its 2022 growth forecast for the Philippines to 6.9 percent from 7.9 previously, as global price shocks wrought by Russia’s invasion of Ukraine would hurt the import-reliant economy...
US F-16 jets in PH for air combat drills
Philippine Daily Inquirer, March 14, 2022
Jeanette I. Andrade
United States Air Force F-16 jets arrived over the weekend to conduct two weeks of air combat drills and exchanges with the Philippine Air Force (PAF) starting on Monday...
Philippines, US to cooperate on nuclear energy
Rappler, March 13, 2022
Sofia Tomacruz
The Philippines and the United States signed a memorandum of understanding (MOU) seeking to boost cooperation on developing the Philippines’ nuclear energy program, announced the Philippine embassy in Washington, DC...
Philippines, France discuss possible submarine deal, joint patrols
Rappler, March 13, 2022
Sofia Tomacruz
Looking to expand maritime cooperation, the Philippines and France discussed the possibility of conducting joint patrols in the West Philippine Sea and developing a submarine fleet for Manila...
IMF: Russian default no longer improbable, but no trigger for global financial crisis
GMA News, March 14, 2022
Andrea Shala, Reuters
Russia may default on its debts in the wake of unprecedented sanctions over its invasion of Ukraine, but that would not trigger a global financial crisis, International Monetary Fund Managing Director Kristalina Georgieva said on Sunday...
Russian strike on base brings Ukraine war close to NATO’s border
Philippine Daily Inquirer, March 14, 2022
Reuters
A barrage of Russian missiles hit a large Ukrainian base near the border with NATO member Poland on Sunday, killing 35 people and wounding 134, a local official said, in an escalation of the war to the west of the country as fighting raged elsewhere...
China faces consequences if it helps Russia evade sanctions over Ukraine – Sullivan
Philippine Daily Inquirer, March 14, 2022
Reuters
U.S. National Security Adviser Jake Sullivan, who is due to meet with China’s top diplomat Yang Jiechi in Rome on Monday, warned Beijing that it would “absolutely” face consequences if it helped Moscow evade sweeping sanctions over the war in Ukraine...
Russian footholds in Mideast, Africa raise threat to NATO
The Manila Times, March 14, 2022
Associated Press
Russian President Vladimir Putin's invasion of Ukraine dominates our attention. But with less world notice, Putin is also busy advancing Russia's presence in the Middle East and Africa — an expansion that military and civilian leaders view as another, if less immediate, threat to security in the West...
Russia says nearly half its reserves are frozen, counts on ties with China
ABS-CBN News, March 14, 2022
Mark Trevelyan, Reuters
Russia said on Sunday that it was counting on China to help it withstand the blow to its economy from Western sanctions, which it said had frozen nearly half of its gold and foreign currency reserves...
Russia and Ukraine give brightest assessment yet of progress in talks
Rappler, March 13, 2022
Reuters
Russian and Ukrainian officials gave their most upbeat assessments yet on Sunday, March 13, of progress in their talks on the war in Ukraine, suggesting there could be positive results within days...
UN to hold more meetings this week on Ukraine war
The Manila Times, March 13, 2022
Agence France-Presse
The United Nations will have multiple meetings this week about Russia's war in Ukraine, though it is unclear if they will lead to the adoption of an official text, diplomats said...
Thousands of Russians scramble to leave Thailand as sanctions hit
GMA News, March 13, 2022
Thousands of Russian tourists in Thailand are struggling to find a route home, Thai officials said Sunday, as international sanctions imposed over the war in Ukraine hit holiday-makers...
MMDA: Metro Manila mayors open to proposed restriction-free 'Alert Level 0'
Philippine Star, March 14, 2022
The government has yet to reach a consensus on whether the country is ready for a shift to 'Alert Level 0' — which would essentially do away with restrictions under the government's alert level system — although some officials are wary of the proposal...
Government to extend Bayanihan vax drive
Philippine Star, March 14, 2022
Mayen Jaymalin
The government is eyeing to extend for another week the fourth round of “Bayanihan Bakunahan” in areas with low vaccination rates...
Revenue loss from tax-free vaccine imports reaches P8B
The Manila Times, March 14, 2022
Mayvelin U. Caraballo
By processing tax-exemption applications for Covid-19 vaccine imports, the national government has lost almost P8 billion in revenue...
Accessibility features of bills seen to improve ease of use
BusinessWorld, March 14, 2022
LWTN
A Central Bank study recommended adding more accessibility features including Braille tactile markings to banknotes to make them easier to use...
DENR turns over Marikina River rehab project to DPWH
Philippine Star, March 14, 2022
Elizabeth Marcelo
The Department of Environment and Natural Resources (DENR) recently turned over to the Department of Public Works and Highways (DPWH) the Task Force Build Back Better’s Marikina River rehabilitation project to ensure its continuity after the Duterte administration...
FDA warns public vs self-test COVID-19 kit
Philippine Star, March 14, 2022
Mayen Jaymalin
The Food and Drug Administration (FDA) yesterday warned the public to refrain from using unregistered COVID self-test kits...
Intel: Reds plotting poll strife
Manila Standard, March 14, 2022
President Rodrigo Duterte expressed alarm Saturday over an intelligence report saying communist insurgents were conniving with a political organization to sow discord during the coming election...
State clinics barely fill healthcare void in the Philippines
BusinessWorld, March 14, 2022
Patricia B. Mirasol
Marian T. Rivas, 59, went to a nearby state health center in the village of Talon Singko in Las Piñas City near the Philippine capital to get free amlodipine for her hypertension. She went home after being told that the generic drug was out of stock...
Pandemic’s untold toll on pregnant women: Hardest yet
Philippine Daily Inquirer, March 14, 2022
Kathleen de Villa
Jennifer Apan, a 37-year-old public school teacher, went through her most difficult pregnancy yet last year with maternal health care inaccessible at times due to surges in COVID-19 cases...
COVID-19 vax drive extension seen as DOH misses aim anew
Philippine Daily Inquirer, March 13, 2022
Patricia B. Mirasol
The government’s fourth national vaccination drive has reached only 44 percent of its target on the second day of implementation and Department of Health (DOH) Undersecretary Myrna Cabotaje blamed the supposed complacency among seniors and those who already got their primary doses...
CHED: Colleges may decide capacity limits
Philippine Daily Inquirer, March 13, 2022
Leila B. Salaverria
Colleges and universities in Alert Level 1 areas have the discretion to decide if they will operate at the allowed 100-percent classroom capacity, according to Commission on Higher Education (CHEd) chair Prospero de Vera...
More than 300 colleges, universities resume face-to-face classes
The Manila Times, March 13, 2022
Kaithreen Cruz
The Commission on Higher Education (CHEd) reported that 313 colleges and universities have started conducting face-to-face classes for around 1,000 degree programs...
Senators divided on opening PHL military facilities to US forces
BusinessWorld, March 13, 2022
Alyssa Nicole O. Tan
One senator praised the President’s pronouncement of willingness to open Philippine military facilities to American forces should the Russia-Ukraine war spill over to Asia, but an opposition lawmaker pointed out that making such a statement is “irresponsible and premature.”...
Sinovac granted emergency use permit for pediatric vaccination in PH
ABS-CBN News, March 13, 2022
The Philippine Food and Drug Administration has granted emergency use authorization to Sinovac for pediatric vaccination...
BIR to e-sabong operators: Pay your taxes
Philippine Daily Inquirer, March 12, 2022
Ben O. de Vera
The taxman has reminded e-sabong operators and related businesses of their tax obligations after a recent Senate inquiry found them earning billions of pesos per month from online “talpak” made more popular by stay-at-home gamblers amid the prolonged COVID-19 pandemic...
PH investors brace for volatile week
Philippine Daily Inquirer, March 14, 2022
Miguel R. Camus
Investors are bracing for another volatile week as the remaining batch of 2021 corporate earnings reports collide with ongoing geopolitical risks and a looming interest rate hike in the United States...
Exports quicken, imports ease in January
BusinessWorld, March 14, 2022
Mariedel Irish U. Catilogo
The value of locally made products grew to its fastest pace in five months in January thanks to strong external demand while imports eased to its lowest in three months, the Philippine Statistics Authority reported on Friday...
Think tank sees inflation breaching 2 to 4% target
Philippine Star, March 14, 2022
Lawrence Agcaoili
New York-based think tank Global Source Partners Inc. expects inflation to accelerate and breach the two to four percent target set by the Bangko Sentral ng Pilipinas (BSP) due to soaring global oil and food prices, as well as the weakening peso...
Retailers optimistic, but wary of rising fuel cost
BusinessWorld, March 14, 2022
Revin Mikhael D. Ochave
Local retails are optimistic about their recovery prospects as mobility restrictions ease, but the effects of the Russia-Ukraine conflict have brought uncertainty as rising fuel prices weigh down businesses...
Market volatility to persist
Philippine Star, March 14, 2022
Iris Gonzales
The Philippine stock market is expected to remain volatile this week despite a technical comeback in the latter part of last week...
PHL waives P23.4 billion worth of duties on pandemic-related imports
BusinessWorld, March 13, 2022
Jenina P. Ibañez
The Department of Finance (DoF) said it approved P23.4 billion worth of import tax and duty exemptions in 2021, close to the pre-pandemic total, after the approval of exemptions for coronavirus vaccine shipments...
Another round of oil price hike set
Daily Tribune, March 14, 2022
Maria Romero
An industry leader warned another round of hike of local pump prices next week as global crude oil prices remain high amid the Russia-Ukraine war. The Philippines, being a net importer of oil, has limited capacity to cope...
Banks’ trust assets up 8% in 2021
Manila Bulletin, March 13, 2022
Lee C. Chipongian
The banking sector’s trust holdings went up to P3.71 trillion in 2021, up by 8.19 percent compared to 2020’s P3.43 trillion, according to data from the Bangko Sentral ng Pilipinas (BSP)...
Windfall for exporters on weak peso seen
Manila Bulletin, March 13, 2022
Bernie Cahiles-Magkilat
Yes, war makes some sectors benefit from the violence and its expected impact on the global economy. One of the early beneficiaries of Russia’s war in Ukraine is the exports sector, which is expected to incur windfall from the depreciation of the peso against the US dollar. The peso fell to over P52, breaching the P51 level against the greenback...
Bread prices to go up, Salceda warns
The Manila Times, March 13, 2022
Ma. Reina Leanne Tolentino
Albay 2nd District Rep. Joey Salceda warned that the price of the average "Pinoy Tasty" loaf bread may increase by P2.30...
BSP inclined to keep rates low despite Ukraine worries
Philippine Daily Inquirer, March 12, 2022
Ronnel W. Domingo
The Bangko Sentral ng Pilipinas (BSP) intends to keep key rates low even as it expressed concern that the ripple effects of the conflict between Russia and Ukraine would reach the Philippines’ financial system...
Garments and textile exports seen rising to $1.5b this year
Manila Standard, March 13, 2022
Othel V. Campos
Garments, textile and apparel exports are expected to reach $1.5 billion in 2022, up from $1.052 billion in 2021, as the country remains on the radar of major buyers overseas despite the lingering pandemic and the Russia-Ukraine war, a trade group said over the weekend...