March 16, 2022
DOH: Entire PHL now considered low risk for Covid-19
BusinessMirror, March 16, 2022
Claudeth Mocon-Ciriaco
The Department of Health (DOH) on Tuesday said that all areas in the country are now considered “low risk” status...
No more National Vax Days, government says
Philippine Star, March 16, 2022
Mayen Jaymalin
After falling short of its target to inoculate 1.8 million individuals in the last National Vaccination Days (NVD), the government is unlikely to mount another round of Bayanihan Bakunahan...
PHL still on track to reach GDP target this year — Chua
BusinessWorld, March 16, 2022
J.P.Ibañez
The National Economic and Development Authority (NEDA) is confident the Philippines could still reach its economic growth target this year, despite the impact of Russia’s invasion of Ukraine on prices...
NEDA still optimistic on Philippine growth
The Manila Times, March 16, 2022
MJ Blancaflor
The Philippine economy is still on track to return to its pre-pandemic level in the first quarter of the year despite global headwinds, Socioeconomic Planning Secretary Karl Kendrick Chua said...
NCR, 47 others under Alert 1
Daily Tribune, March 16, 2022
MJ Blancaflor
The national government kept Metro Manila and 47 other areas across the country under Alert Level 1 for the rest of the month amid the continuous drop in Covid-19 cases...
Economy saw weaker domestic trade over the holidays
Philippine Daily Inquirer, March 16, 2022
Ben O. de Vera
Despite further economic reopening during the Christmas holiday season, strong typhoons plus base effects pulled down the volume and value of goods traded across the archipelago during the fourth quarter of 2021...
Palace moves amid oil crisis
Manila Standard, March 16, 2022
Vito Barcelo
The Palace on Tuesday said it is time to call Congress to an emergency session to look at amending the oil deregulation law, as President Rodrigo Duterte met his Cabinet last night on the issue following the sharp increases in the prices of fuel, aggravated by the Russian invasion of Ukraine...
House panel OK’s unbundling of oil prices
BusinessWorld, March 16, 2022
Jaspearl Emerald G. Tan and Victor V. Saulon
A House of Representatives committee on Tuesday approved a bill that seeks to prevent oil companies from raising prices of old stock via changes to the Downstream Oil Industry Deregulation Act, amid soaring global fuel prices...
Senate eyes letting foreign contractors bid for public works
BusinessWorld, March 15, 2022
Alyssa Nicole O. Tan
The Senate is considering giving equal opportunity to both foreign and domestic bidders for public works projects to introduce new construction technologies and encourage innovation, according to the head of its economic affairs committee...
Palace backs Oil Deregulation Law review
Daily Tribune, March 16, 2022
MJ Blancaflor
Malacañang is backing the proposed review of the Oil Deregulation Law which removed government control on the pricing, exportation and importation of petroleum products while allowing market forces to dictate oil prices...
BSP prepares for digital regulation
Manila Bulletin, March 15, 2022
Lee C. Chipongian
The Bangko Sentral ng Pilipinas (BSP) said the Financial Sector Forum (FSF) is arming bank supervisors “for the digital age” of Supervisory and Regulatory Technology (SupTech/RegTech)...
Metro Mayors to retain wearing of face masks under 'new normal'
The Manila Times, March 15, 2022
Christian Crow Maghanoy
Metro Manila mayors agreed to retain the wearing of face masks and to observe minimum public health standards (MPHS) should the national government deescalate the pandemic alert system to 0, an official of the Metropolitan Manila Development Authority (MMDA) said...
Schools mandated to admit all learners with disabilities
Manila Standard, March 16, 2022
President Rodrigo Duterte has signed laws on education, including one mandating all schools nationwide to ensure inclusive education for learners with disabilities, Malacanang said Tuesday...
SB Finance launches loan mobile app
BusinessWorld, March 16, 2022
T.J. Tomas
SB Finance Co., Inc., the joint venture consumer lending firm of Security Bank Corp. and Thailand’s Bank of Ayudhya (Krungsri), launched a new loan app on Tuesday...
S&P lowers growth forecast to 6.5%
The Manila Times, March 16, 2022
Mayvelin U. Caraballo
Internatinal debt watchdog S&P Global Ratings has lowered its economic growth forecast for the Philippines this year to account for market developments surrounding the Russia-Ukraine conflict...
Ukraine war ‘ripple effects’ imperil PHL
BusinessMirror, March 16, 2022
Bianca Cuaresma
The Philippine economy is not fully insulated from the geopolitical fallout caused by Russia’s invasion of Ukraine despite its relatively weak linkages with the two feuding countries, a private economist said on Tuesday...
Philippines to proceed with P12.7 billion Russia helicopter deal
Philippine Star, March 16, 2022
Delon Porcalla
The Philippines is poised to honor its deal with Russia over the procurement of 17 Russian-made Mil Mi-17 heavy-lift helicopters worth P12.7 billion, despite the reluctance or refusal of other countries to comply with such contracts in light of the Ukraine crisis...
Chinese ship ‘spied on PH-US war games’
Philippine Daily Inquirer, March 16, 2022
Frances Mangosing
A Chinese navy vessel was spying on Filipino-American war games off Palawan province last month, according to senior military officers, and the Department of Foreign Affairs (DFA) summoned Beijing’s ambassador to Manila over the ship’s “illegal intrusion and lingering presence” in Philippine waters...
World shares sink as Covid, war trump solid China data
The Manila Times, March 16, 2022
Associated Press
World share prices have fallen, with Hong Kong down by almost 6 percent and Shanghai sinking by 5 percent as lockdowns and rising numbers of coronavirus cases in China threaten to disrupt manufacturing and trade...
IMO, UN concerned over impact of Russia-Ukraine war on shipping
The Manila Times, March 16, 2022
Genivi Verdejo
The International Maritime Organization (IMO) and United Nations called for the immediate cessation of hostilities in Ukraine which are affecting the global shipping, supply chain and seafarers....
Industrial output grows 7.5% in Jan-Fe
The Manila Times, March 16, 2022
Xinhua News Agency
China's industrial production expanded in the first two months of the year, with the high-tech manufacturing sector posting a stellar performance, official data showed on Tuesday...
Warsaw seeks NATO 'peace mission' to help Ukraine
GMA News, March 16, 2022
"This cannot be an unarmed mission," Vice Premier Jaroslaw Kaczynski was quoted as saying by the Polish news agency PAP during a visit to Kyiv...
Biden plans first Europe visit since Ukraine invasion as refugees surpass 3 million
Rappler, March 16, 2022
Reuters
US President Joe Biden will make his first visit to Europe since the invasion of Ukraine to discuss the crisis with NATO allies next week, the White House said on Tuesday, March 15, as the refugee tally hit 3 million amid more Russian air strikes...
EU blacklists Abramovich, targets energy, luxury sectors with new Russia sanctions
Rappler, March 16, 2022
Reuters
The European Union on Tuesday, March 15, launched a new barrage of sanctions against Russia for its invasion of Ukraine, including bans on Russian energy sector investments, luxury goods exports to Moscow, and imports of steel products from Russia...
UniCredit considers quitting Russia, Credit Suisse outlines Russian wealth clients
Rappler, March 16, 2022
Reuters
UniCredit could decide on a costly exit from Russia after its invasion of Ukraine, the Italian bank’s chief executive officer said on Tuesday, March 15, as Credit Suisse disclosed 4% of its wealth management assets are managed for Russian clients...
UK PM Johnson seeks additional oil flows in UAE, Saudi
ABS-CBN News, March 16, 2022
Reuters
British Prime Minister Boris Johnson visits the United Arab Emirates and Saudi Arabia on Wednesday as part of efforts to secure additional oil flows and increase pressure on Russian President Vladimir Putin over Ukraine...
Oil prices plunge on China lockdowns; stocks diverge
ABS-CBN News, March 16, 2022
Oil prices plunged on Tuesday as China, a major energy consumer, placed nearly 30 million people under COVID lockdown, and Hong Kong and Chinese mainland stock markets dove, while Wall Street stocks rallied...
Russia temporarily bans grain exports to ex-Soviet countries
Philippine Daily Inquirer, March 15, 2022
Reuters
Russia on Monday temporarily banned grain exports to ex-Soviet countries and most sugar exports, but a senior minister said it would keep on providing special export licences to traders within its current quota...
Neda hopes to get P200 million innovation fund in 2023
BusinessMirror, March 16, 2022
Cai Ordinario
The National Economic and Development Authority (Neda) is hoping that it will get a budget of more than P200 million for the innovation fund in 2023...
Migrant worker groups pin hopes on interim DMW head
BusinessMirror, March 16, 2022
Samuel P. Medenilla
Despite the anticipated brief stint of Abdullah D. Mama-O as head of the Department of Migrant Workers (DMW), expectations from migrant stakeholders for the newly reassigned Cabinet official remain high...
Gov’t eyes sale of cheaper fuel to PUVs – PNOC
Philippine Daily Inquirer, March 16, 2022
Jerome Aning, Karl R. Ocampo and Nestor Corrales
The state-owned Philippine National Oil Co. (PNOC) is planning to start next month the sale of fuel at a discount to targeted beneficiaries as prices at the pump continue to rise to unprecedented levels...
Drivers, fishers could only groan as subsidy trickles down
Philippine Daily Inquirer, March 16, 2022
Dempsey Reyes and Frances Mangosing
Rodelio Sotto has been driving his jeepney for 31 years, plying the Morayta-Divisoria route in Manila. As prices of petroleum products have risen to record highs, the 50-year-old jeepney driver has started contemplating other options to make a living...
Jabs for elderly extended to Friday
Manila Standard, March 16, 2022
Willie Casas
The government will extend until Friday the inoculation of the elderly against COVID-19 under the fourth run of the national vaccination days, a health official said Tuesday...
DOF nixes fuel excise tax suspension, proposes P200 monthly aid to poor families
Philippine Daily Inquirer, March 16, 2022
Daphne Galvez
The Department of Finance is not recommending the suspension of excise tax on fuel products despite rising prices, saying the government should instead provide P200 per month per household for one year to poor families...
Uncertified goods seized by DTI up 304%
Philippine Star, March 16, 2022
Louella Desiderio
Uncertified products confiscated by the Department of Trade and Industry (DTI) in the National Capital Region increased by 304 percent in terms of value in the first two months of the year...
Party reps barred from seeing early ballot printing
Philippine Daily Inquirer, March 16, 2022
Dempsey Reyes and Dona Z. Pazzibugan
Representatives of presidential candidate Leni Robredo, her chief rival Ferdinand Marcos Jr., and other aspirants and their parties were prohibited from observing the printing of official ballots in disregard of election law, the Vice President’s lawyer said on Tuesday...
Comelec to shred over 5 million defective ballots
BusinessMirror, March 16, 2022
Samuel P. Medenilla
The Commission on Elections (Comelec) is set to shred over 5.2 million printed “defective” ballots for the 2022 automated polls...
Fuel subsidy released to 35K of 136K card holders so far –LTFRB
GMA News, March 16, 2022
Joviland Rita
The Land Transportation Franchising and Regulatory Board on Wednesday said around 35,000 of the 136,000 initial card holders have received their P6,500 fuel subsidy, so far...
Health workers back Alert Level 1 in NCR, but says keep masks on
ABS-CBN News, March 16, 2022
The Philippine College of Physicians welcomed the government's decision to maintain the Alert level 1 status in Metro Manila and other areas, as it reminded the public to continue wearing masks...
Plan to build new PGH complex in QC gains traction
Philippine Daily Inquirer, March 16, 2022
Krixia Subingsubing
The plan to build a new complex for the Philippine General Hospital (PGH) in Diliman, Quezon City, is making headway...
MMDA: Metro Manila mayors ‘ready, willing’ to implement Alert Level 0
Philippine Daily Inquirer, March 15, 2022
Cathrine Gonzales
Metro Manila mayors are “ready and willing” to implement Alert Level 0 in the region if it will be ordered by the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-MEID), the chairman of the Metro Manila Development Authority (MMDA) said Tuesday...
Comelec:73.7% ballots already printed
Manila Bulletin, March 15, 2022
Leslie Ann Aquino
On Tuesday, Commission on Elections (Comelec) Commissioner Marlon Casquejo said 73.7 percent of the more than 67 million have already been printed as of March 15...
BIR, Comelec urged: Defer 20% tax on teachers’ allowance for election duties
Philippine Daily Inquirer, March 15, 2022
Cathrine Gonzales
Senator Risa Hontiveros on Tuesday urged the Bureau of Internal Revenue (BIR) and the Commission on Elections (Comelec) to defer the higher withholding tax on the compensation of teachers who will do election duties in the upcoming May polls...
League of Provinces seeks freeze on new cities amid enlarged IRA
BusinessWorld, March 15, 2022
Tobias Jared Tomas
The League of Provinces of the Philippines (LPP) called for a moratorium on the creation of new cities and provinces in order to bolster the financial viability of local government units (LGUs)...
NEDA: Unified project ID to improve chances of financing countryside development
BusinessMirror, March 16, 2022
Cai Ordinario
Establishing a unified project ID for all infrastructure projects could improve the chances of financing countryside development efforts, according to the National Economic and Development Authority (Neda)...
‘Nixing excise tax, VAT spells P138.8-B loss’
BusinessMirror, March 16, 2022
Bernadette D. Nicolas
The Philippine government stands to lose P138.8 billion in revenues in a year if it will heed calls by some groups to suspend both the excise tax and value-added tax (VAT) on fuel products amid soaring oil prices, the Department of Finance said...
9% growth but prices heat up
Daily Tribune, March 16, 2022
Raadee Sausa
Amid proposed measures to further reopen the economy toward greater normalcy, the country’s gross domestic product (GDP) could still grow by about 6 percent to 7 percent for 2022, an economist said on Tuesday...
Some ride-hailing, delivery firms won’t raise rates for now
BusinessWorld, March 16, 2022
Arjay L. Balinbin
As fuel prices continued to climb this week, at least two ride-hailing and delivery service providers said they currently do not have plans to increase their rates...
Interest rate cap to boost credit growth – CIC
Philippine Star, March 16, 2022
Lawrence Agcaoili
A cap on interest rates and other fees slapped by lending and financing companies, as well as online lending platforms for small value loans, would help spur credit growth in the country, according to Credit Information Corp...
Back-to-work order for BPOs may hurt PH, says Colliers
Philippine Daily Inquirer, March 16, 2022
Doris Dumlao-Abadilla
As the government summoned the IT-business process outsourcing (BPO) industry back to repopulate offices, property consulting firm Colliers has raised concerns that the Philippines may turn less competitive in this crucial space versus India and other markets that still encourage work-from-home (WFH) arrangements...
Petroleum group sees price rollback next week
GMA News, March 16, 2022
Prices of petroleum products are likely to go down next week, according to the head of the Independent Philippine Petroleum Companies Association (IPPCA) on Wednesday...
Most Filipinos optimistic their battered finances will recover postpandemic
Philippine Daily Inquirer, March 15, 2022
Doris Dumlao-Abadilla
Most Filipino consumers are hopeful that their financial situation will recover from the prolonged COVID-19 pandemic, and they are more optimistic than consumers in other emerging markets, based on the latest quarterly survey by multinational credit reporting firm TransUnion...
PH petroleum group backs government-run crude oil reserve
The Manila Times, March 16, 2022
Ben Gines Jr.
The establishment of a government-owned strategic petroleum reserve is one of the long-term solutions that can address volatile oil prices in the global market, the Independent Philippine Petroleum Companies Association (IPPCA) said...
PH stocks suffer big drop anew with inflation burden creeping in
Philippine Daily Inquirer, March 15, 2022
Miguel R. Camus
Philippine stocks saw another sharp selloff on Monday as inflationary pressures caused by the Russian invasion of Ukraine weighed on the county’s growth outlook while the US Federal Reserve nears a decision to raise interest rates this week...
Chua: Domestic demand, economic boost to shield PH from Putin war on Ukraine
Philippine Daily Inquirer, March 15, 2022
Ben O. de Vera
The country’s chief economist on Tuesday (March 15) said domestic demand boosted by economic reopening will shield the Philippines from spillover effects of the Ukraine-Russia war and return gross domestic product (GDP) to 2019 levels in the first quarter of 2022...
Treasury tempers borrowings due to high rates, but LGUs ramp up loans
Philippine Daily Inquirer, March 15, 2022
Ben O. de Vera
The Bureau of the Treasury (BTr) on Tuesday (March 15) raised P13.04 billion from reissued four-year bonds, while local governments continued to borrow more for their infrastructure projects, the latest Department of Finance (DOF) data showed...