March 18, 2022
Debt watchers expect slower growth, high inflation for Philippines
Philippine Star, March 18, 2022
Lawrence Agcaoili
The Philippines is expected to post slower economic growth and higher inflation this year despite an assurance from the Bangko Sentral ng Pilipinas (BSP) that the country is insulated from the ongoing Russia-Ukraine war, according to S&P Global Ratings and Moody’s Investors Service...
Budget deficit widens in January
BusinessWorld, March 18, 2022
Tobias Jared Tomas
The National Government’s budget deficit widened to P23.4 billion in January, as spending increased due to the release of tax allotments to local government units (LGUs)...
BSP adjusts monetary policy
The Manila Times, March 18, 2022
Mayvelin U. Caraballo
The Bangko Sentral ng Pilipinas (BSP) maintained on Thursday that it will adjust its monetary policy settings at its own pace despite the latest rate hike in the United States...
Measures vs impact of oil price upticks in place–BSP
BusinessMirror, March 17, 2022
Philippine News Agency
A ranking Bangko Sentral ng Pilipinas (BSP) executive said Thursday while wage and fare hike proposals have been made due to fuel price increases, the government is not remiss in alleviating the public’s welfare...
PH braces for spillover impact of Russia sanctions
Philippine Daily Inquirer, March 18, 2022
Ben O. de Vera
The Philippines is bracing for the indirect, spillover impacts of economic sanctions slapped on Russia following its invasion of Ukraine, President Duterte’s chief economic manager said...
The number of jobless Filipinos falls to 2.93 million in January 2022
CNN Philippines, March 18, 2022
Pilar Manuel
Fewer Filipinos were out of work in January even with the return of tighter COVID-19 restrictions, Philippine Statistics Authority figures released Friday show...
DOH: Alert level 1 may stay until after Duterte
Philippine Daily Inquirer, March 18, 2022
Jerome Aning
Health Secretary Francisco Duque III on Thursday said Filipinos should continue to wear face masks as the alert level 1 status in many areas of the country would likely remain until the end of President Rodrigo Duterte’s term...
Palace clarifies: P200 monthly aid meant for 4Ps beneficiaries
Philippine Daily Inquirer, March 18, 2022
Jerome Aning and Nestor Corrales
Malacañang on Thursday clarified that the P200 monthly subsidy the government was releasing to poor households would primarily benefit those already receiving conditional cash grants under the Pantawid Pamilyang Pilipino Program (4Ps)...
Ride-hailing firms seek P15 base fare hike from LTFRB
BusinessWorld, March 18, 2022
Arjay L. Balinbin
Drivers of ride-hailing services have urged the Land Transportation Franchising and Regulatory Board (LTFRB) to immediately act on their petition to increase base fares by P15 as pump prices continue to soar...
BSP proposes rules for compensation of NSSLA officials
BusinessWorld, March 18, 2022
Luz Wendy T. Noble
The Central Bank is proposing a maximum rate of increase for compensation packages of officials and employees of nonstock savings and loans associations (NSSLAs) to ensure financial soundness is maintained...
MBC assails government move to amend BOT law’s IRR
BusinessMirror, March 17, 2022
VG Cabuag
The Makati Business Club has warned the government against its plan to amend the Build-Operate-Transfer Law, saying some of the proposed provisions and the timing itself, could “offset recent gains and weaken the country’s chances of boosting infrastructure, investment, trade and creation of jobs.”...
4-day workweek won’t mean OT pay automatically
BusinessMirror, March 17, 2022
Samuel P. Medenilla
Employees who avail themselves of a 4-day compressed work week (CWW) setup will not immediately qualify for overtime (OT) pay, according to the Department of Labor and Employment (DOLE)...
Panelo hails LWD law passage
Daily Tribune, March 18, 2022
Gab Humilde Villegas
Senatorial bet and former presidential chief legal counsel Salvador Panelo on Thursday applauded President Rodrigo Duterte for signing Republic Act (RA) 11650 seeking to provide inclusive education for learners with disabilities (LWD)...
DTI mulls new SRP for select products
Philippine Daily Inquirer, March 17, 2022
Daniza Fernandez
The Department of Trade and Industry (DTI) is studying another implementation of suggested retail prices (SRP) on select products, an official said Thursday amid the fresh round of increases in prices of certain commodities...
Perpetual Help, 2 other ASEAN universities to launch nanosatellite in 2023
GMA News, March 18, 2022
The University of Perpetual Help System DALTA (UPHSD) has partnered with two educational institutions in Malaysia and Thailand in a bid to launch into space a nanosatellite by 2023...
Generic drugmakers sign on to make cheap version of Pfizer COVID pill
Rappler, March 18, 2022
Reuters
Thirty five generic drugmakers around the world will make cheap versions of Pfizer Incorporated’s PFE.N highly effective COVID-19 oral antiviral Paxlovid to supply the treatment in 95 poorer countries, the UN-backed Medicines Patent Pool (MPP) said on Thursday, March 18...
PHL 5G users see greatest speed uplift among peers — Opensignal
BusinessWorld, March 18, 2022
Arjay L. Balinbin
Fifth-generation (5G) network users in the Philippines experienced the greatest uplift in terms of average download speeds versus 4G across 10 Asia-Pacific (APAC) markets, including Thailand, Taiwan, South Korea, and New Zealand, the UK mobile analytics company Opensignal Ltd. said in its latest analysis...
No SDGs expected to be met by 2030 in Southeast Asia
BusinessWorld, March 17, 2022
Revin Mikhael D. Ochave
Southeast Asia is behind the pace in meeting any of the 17 sustainable development goals (SDGs) by 2030, according to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP)...
ADB sees stronger RCEP income effect vs TPP
BusinessWorld, March 17, 2022
Jenina P. Ibañez
The Regional Comprehensive Economic Partnership (RCEP) is likely to have greater impact on incomes than the Trans-Pacific Partnership (TPP), the Asian Development Bank (ADB) said...
Unescap: PHL poverty incidence worst among Maranaos, Tausugs of Mindanao
BusinessWorld, March 17, 2022
Cai Ordinario
Poverty incidence among Maranaos in Mindanao has been rated as the worst in the Philippines, according to a study released by the United Nations Economic and Social Commission for Asia and the Pacific (Unescap)...
Samurais tapped for P24-B funds
Daily Tribune, March 18, 2022
Raadee Sausa
As the need for social amelioration programs increases, the government is now looking at the Japanese market for the float of sovereign bonds this year to raise at least $500 million or P24.4 billion...
World stocks mixed after US rate increase
The Manila Times, March 18, 2022
Associated Press
Asian stocks surged on Thursday while European markets opened lower after the Federal Reserve (Fed) announced its first interest rate hike since 2008, and China promised support for its real estate and internet industries...
Ukraine war to slash global growth by a point
The Manila Times, March 18, 2022
Agence France-Presse
The fallout from the war in Ukraine could cut global economic growth by more than 1 percentage point in the first year after the invasion, according to the Organization for Economic Co-operation and Development (OECD)...
U.N. says hundreds of civilians killed in Ukraine, urges investigation
Philippine Daily Inquirer, March 18, 2022
Reuters
More than 700 civilians – including 52 children – have been killed in Ukraine since Russia invaded three weeks ago, but the “actual number is likely much higher,” U.N. political affairs chief Rosemary DiCarlo told the Security Council on Thursday...
Russia scraps UN vote on Ukraine resolution over lack of support – diplomats
Philippine Daily Inquirer, March 18, 2022
Agence France-Presse
Russia has canceled a UN Security Council vote on a “humanitarian” resolution on Ukraine, scheduled for Friday, due to a lack of support from its closest allies, diplomats said...
As Russian troops appeared to stall in their advance on Ukrainian cities, the United States voiced concern on Thursday, March 17, that China might assist Moscow with military equipment as the war entered its fourth week...
US grants Ukraine $1B military aid
Manila Standard, March 18, 2022
Agence France-Presse
Ukraine’s leader secured $1 billion in new US military aid, including Stinger anti-aircraft missiles used against Soviet forces in Afghanistan...
Biden, Xi to speak as US warns about China military aid for Ukraine war
Philippine Daily Inquirer, March 18, 2022
Reuters
U.S. President Joe Biden will hold a call on Friday with Chinese leader Xi Jinping, as Washington warned China was considering military support for Russia’s invasion of Ukraine, a step that would dramatically widen the gulf between Beijing and Western governments...
Ukrainian refugees hope for peace, but more expected to flee
Philippine Daily Inquirer, March 18, 2022
Reuters
Thousands more refugees crossed into Eastern Europe on Thursday, many hoping that peace talks between Moscow and Kyiv may end the war soon, though more people were expected to flee in the days ahead...
Biden, Xi to speak as US warns about China military aid for Ukraine war
Philippine Daily Inquirer, March 18, 2022
Reuters
U.S. President Joe Biden will hold a call on Friday with Chinese leader Xi Jinping, as Washington warned China was considering military support for Russia’s invasion of Ukraine, a step that would dramatically widen the gulf between Beijing and Western governments...
Moscow accused of war crimes as Ukraine atrocities mount
Philippine Star, March 18, 2022
Danny Kemp and Dmytro Gorshkov, Agence France-Presse
Bloody new attacks on civilians fuelled accusations Thursday that Russia is committing war crimes in Ukraine, as the United States warned it will make China pay for any support given to Moscow's assault...
China to 'stick with' zero-Covid strategy, President Xi says
Philippine Star, March 18, 2022
Matthew Walsh, Agence France-Presse
Chinese President Xi Jinping said on Thursday the country will "stick with" its zero-Covid strategy, state TV reported, as the world's most populous nation battles its largest outbreak since the early days of the pandemic...
PayPal expands payments services to help Ukrainian citizens, refugees
ABS-CBN News, March 18, 2022
Andrea Shalal, Reuters
PayPal Holdings Inc expanded its services to allow Ukrainian citizens and refugees to receive payments from overseas, a move a senior Ukrainian official called a huge help as Russian forces continued to attack the country...
Russian-European Mars mission suspended over Ukraine war
GMA News, March 18, 2022
A Russian-European mission to land a rover on Mars has been suspended due to sanctions over Moscow's invasion of Ukraine and its "tragic consequences," the European Space Agency said Thursday...
UN agency: Prolonged pandemic leaving marginalized sectors behind in sustainable goals
Philippine Daily Inquirer, March 17, 2022
Ben O. de Vera
The prolonged COVID-19 pandemic has made it tougher for sectors already marginalized prior to the health crisis—like women, the poor, elderly, persons with disabilities (PWDs) and those living in the countryside—to catch up with the United Nations’ (UN) sustainable development goals (SDGs) for 2030, according to a report of the UN Economic and Social Commission for Asia and the Pacific on Thursday (March 17)...
US donates more than 500 million Covid vaccines to other countries
The Manila Times, March 17, 2022
Agence France-Presse
The United States has given more than 500 million coronavirus vaccines to other countries since the jabs were developed, Secretary of State Antony Blinken said Thursday in a statement obtained by Agence France-Presse...
Tourist arrivals in PHL reach over 96,000 since Feb. 10 border reopening
BusinessWorld, March 17, 2022
Revin Mikhael D. Ochave
Tourist arrivals in the Philippines reached over 96,000 in just over a month since the reopening of international borders for foreigners from visa-free countries on Feb. 10, the Department of Tourism (DoT) reported...
Think tank, ex-military official say PHL should step back from ‘wars of the giants’
BusinessWorld, March 17, 2022
Alyssa Nicole O. Tan
A global think tank and a former intelligence chief on Thursday said the Philippines should take a step back and avoid getting involved in conflicts between world superpowers...
Palace decision on four-day workweek due Monday
BusinessWorld, March 18, 2022
Kyle Aristophere T. Atienza
President Rodrigo R. Duterte will announce his decision on the proposed four-day workweek on March 21, the Palace spokesman said on Thursday...
Big fuel price rollback next week, if trend holds
Philippine Daily Inquirer, March 18, 2022
Karl R. Ocampo
A big rollback in local pump prices is projected to provide temporary relief to Filipino consumers next week —if the downward movement in oil prices is sustained until today...
DepEd, doctors ask Duterte: Veto vape bill
Philippine Daily Inquirer, March 18, 2022
Jane Bautista and Kathleen de Villa
The Department of Education (DepEd) and public health experts are one in urging President Rodrigo Duterte to veto the “antihealth” vape bill that, among others, lowers the age of access from 21 to 18...
Lawmakers cite Smartmatic leak; let’s wait for NBI, says Comelec
Philippine Daily Inquirer, March 18, 2022
Melvin Gascon
Sen. Imee Marcos and Senate President Vicente Sotto III on Thursday said a hackers’ group had obtained confidential election data, which was first reported early this year, from Smartmatic Inc., the service provider of the country’s automated election system...
Government may yet buy into Shell Malampaya stake
BusinessMirror, March 17, 2022
Lenie Lectura
The government, through the Philippine National Oil Company-Exploration Corp. (PNOC-EC), may yet purchase a “certain percentage” of Shell Petroleum N.V.’s stake in the offshore Malampaya gas-to-power project...
Customs chief: Presidential bets ‘talking through their hats’ on BOC corruption
Philippine Daily Inquirer, March 17, 2022
Ben O. de Vera
While most presidential candidates have the Bureau of Customs (BOC) at the top of their minds as the most corrupt government agency meriting an investigation if they win in the May 9 elections, Customs Commissioner Rey Leonardo Guerrero on Thursday pointed to many changes — for the better — in the country’s second biggest tax-collection agency...
Andanar says P200 subsidy for 4Ps members only; 'That's all we can give'
Manila Bulletin, March 17, 2022
Argyll Cyrus Geducos
Communications Secretary Martin Andanar explained that only beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) are set to receive the monthly P200 subsidy approved by President Duterte amid the rising prices of oil and petroleum products...
DOH sees implementation of Alert Level 1 in entire PH until end of Duterte's term
Manila Bulletin, March 17, 2022
Analou de Vera
Department of Health (DOH) Secretary Francisco Duque III said that all areas in the country may be under Covid-19 Alert Level 1 until the end of President Duterte’s term in June this year...
‘Despite denials, Smartmatic had serious security breach’
Philippine Star, March 18, 2022
Cecille Suerte Felipe
Despite denials, there had been a “very serious” security breach in the operations of Smartmatic, the provider of election software to be used in the May 9 polls, senators said after an executive session of the Senate committee on electoral reforms yesterday...
Quezon City very low risk for COVID-19 – OCTA
Philippine Star, March 18, 2022
Janvic Mateo
Quezon City is now very low risk for COVID-19 amid the continued drop in new cases over the past week, a member of the OCTA Research Group announced yesterday...
Kantar webinar offering marketing solutions aims to hone power of information
ABS-CBN News, March 18, 2022
Consulting giant Kantar is inviting young Filipino entrepreneurs and businessmen to attend its webinar titled, “Welcome to the Era of Agile Market Research” on Wednesday, March 23...
Contributors of PERA increase almost threefold as of February
BusinessWorld, March 18, 2022
L.W.T. Noble
Contributors of the Personal Equity Retirement Account (PERA) have continued to rise as more were able to enjoy the convenience of its digitization...
DoF, NEDA object to single national minimum wage
BusinessWorld, March 17, 2022
Jaspearl Emerald G. Tan
The Department of Finance (DoF) and National Economic and Development Authority (NEDA) on Thursday turned down the proposal to institutionalize uniform wage across regions since it will worsen inequality...
Feed millers push for 5% corn tariff
The Manila Times, March 18, 2022
Eireene Jairee Gomez
The Philippine Association of Feed Millers Inc. (Pafmi) called on the government to consider its proposal to temporarily bring down to a uniform 5 percent the tariff on all corn imports, amid the tight supply of corn in the Asean region...
Increased price of rice looms
Manila Standard, March 18, 2022
Joyce Babe Pañares
An umbrella group of agricultural organizations has warned consumers to brace for an increase in the price of rice in the coming weeks while a network of ride-hailing drivers and operators pushed for a P15 base fare hike amid spiraling oil prices...
BSP not about to follow US Fed’s lead
Philippine Daily Inquirer, March 18, 2022
Ronnel W. Domingo
The Bangko Sentral ng Pilipinas (BSP) does not have to raise its policy rates just because the US Federal Reserve did, as such decisions will depend on the domestic situation, BSP Governor Benjamin Diokno reiterated on Thursday...
Restore import tariffs, meat producers urge
Philippine Daily Inquirer, March 18, 2022
Jordeene B. Lagare
Local meat producers pleaded with the government to restore the tariffs on imported meat products, arguing that the tariff cuts “did not significantly lower the price of pork,” caused the government some P12 billion in revenue losses, and resulted in great hardship on the local swine industry...
Higher fees for veggie delivery ‘inevitable’
Philippine Daily Inquirer, March 18, 2022
Kimberlie Quitasol
Vegetable truckers in Benguet province have started collecting additional transportation charges following the big increase in fuel prices on Tuesday, March 15...
Stocks take cue from hawkish US Fed action
Philippine Star, March 18, 2022
Iris Gonzales
Stocks in the Philippines and other emerging Asian markets jumped yesterday as a hawkish tilt by the US Federal Reserve matched expectations and encouraged investors with the view that policy tightening would not hinder growth...
DTI says few manufacturers are seeking higher prices; SRP adjustment under study
BusinessWorld, March 17, 2022
Revin Mikhael D. Ochave
Only limited numbers of manufacturers are seeking permission to raise prices of basic goods, the Department of Trade and Industry (DTI) said, with adjustments to the suggested retail price (SRP) list under consideration...
RCEP could help blunt oil spike impact on food
BusinessMirror, March 17, 2022
Cai Ordinario
The largest trade agreement in the world, the Regional Comprehensive Economic Partnership (RCEP), could play a major role in reducing food costs amid the spike in oil prices and other commodities brought by the war in Eastern Europe...
Targeted relief to alleviate inflation impact—NEDA
Manila Bulletin, March 17, 2022
Chino S. Leyco
Targeted relief interventions would better help cushion the impact of inflationary pressures arising from the Russia-Ukraine crisis, the National Economic and Development and Development (NEDA) said...
DOTr thumbs down fare hike for railways
CNN Philippines, March 17, 2022
CNN Philippines Staff
Railway passengers can be assured that fares will remain the same, the Department of Transportation (DOTr) said on Thursday...