March 21, 2022
PHL is 2nd happiest country in Southeast Asia
Business Mirror, March 21, 2022
Cai Ordinario
THE Philippines is now the second happiest country in Southeast Asia, according to the 2022 World Happiness Report (WHR) released by the Sustainable Development Solutions Network (SDSN)...
Philippines external debt hits $106.4 billion
Philippine Star, March 21, 2022
Lawrence Agcaoili
The foreign obligations of the Philippines went up by 8.1 percent to $106.43 billion last year as the national government borrowed more, including the emergency reserve fund from the International Monetary Fund (IMF), to finance the country’s COVID-19 response measures...
PHL banks’ Q4 loan growth fastest since Q1 2020
Business World, March 21, 2022
Ana Olivia A. Tirona
The latest edition of BusinessWorld’s quarterly banking report showed the aggregate loans of 46 universal and commercial banks (U/KBs) jumped by 5.93% year on year to P10.15 trillion in the fourth quarter, quicker than the 3.24% growth in the preceding quarter...
PH COVID-19 cases drop by 22% – OCTA Research
Philippine Daily Inquirer, March 21, 2022
Dona Z. Pazzibugan
The Philippines remained at “very low risk” for another COVID-19 surge, according to the monitoring group OCTA Research...
BSP seen keeping policy rate unchanged
Philippine Daily Inquirer, March 21, 2022
Ronnel W. Domingo
The Bangko Sentral ng Pilipinas (BSP) is expected to keep its key policy rate at a historic low when the Monetary Board meets on Thursday, despite headwinds getting stronger...
SEC cracks down on illegal online lenders
Philippine Daily Inquirer, March 21, 2022
Ben O. de Vera
Not content with closing down thousands of abusive lenders and haling to court a number of illegal firms, the Securities and Exchange Commission (SEC) is further stepping up its crackdown against violators of the Lending Company Regulation Law, especially those operating online, the Department of Finance (DOF) said...
SEC to establish division to monitor financing, lending firms
GMA News, March 20, 2022
Jon Viktor D. Cabuenas
The Securities and Exchange Commission (SEC) is set to establish a new division that will focus on financing and lending firms as part of a crackdown against abusive lenders in line with the Lending Company Regulation Act (LCRA)...
DepEd embraces game-based teaching, learning through Minecraft: Education Edition
Manila Bulletin, March 20, 2022
Merlina Hernando-Malipot
To create better classroom experiences, the Department of Education (DepEd) has tapped video game Minecraft to utilize game-based learning and teaching for Filipino teachers and students...
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DTI moves to promote creative industry
The Manila Times, March 21, 2022
Anna Leah E. Gonzales
An online platform is being upgraded by the Trade department's Center for International Trade Expositions and Missions (CITEM) to further promote Filipino talents to the world...
NextPay of Sy and Ayala groups set to launch ‘email money’ service in PH
Manila Standard, March 20, 2022
Darwin G. Amojelar
NextPay, a homegrown financial technology startup backed by the Sy family and the Ayala Group, is expanding its digital payment solutions by offering Email Money that allows users to transfer money to any bank or e-wallet without the need for the recipient’s account details...
PH urges nations to ensure no use of chemical weapons
Philippine Daily Inquirer, March 21, 2022
Tina G. Santos
The Philippines is urging fellow nations to ensure that no chemical weapons and other weapons of mass destruction are ever used and civilians are unharmed and protected especially in conflict areas...
The impact of free trade agreements on the Philippines
The Manila Times, March 21, 2022
Anna Leah E. Gonzales
As the economy recovers from the impact of the Covid-19 pandemic, the Department of Trade and Industry (DTI) is optimistic that free trade agreements (FTA) will help boost the growth of exports...
BSP among holdouts vs policy tapering
Daily Tribune, March 21, 2022
Raadee Sausa
The Philippines ranked fifth in managing the loan benchmark among central banks after it posted a negative 1 percent real policy interest rate among a sample of 16 central banks, a Bangko Sentral ng Pilipinas (BSP) official said over the weekend...
PH went down to fifth place in terms of vehicle sales growth among Southeast Asian markets in January
Manila Standard, March 20, 2022
Othel V. Campos
The Philippines slipped to fifth place in January as the fastest growing automotive market in Southeast Asia from second last year...
Ukraine war sparking turmoil for world economy - EBRD
The Manila Times, March 20, 2022
Agence France-Presse
The Ukraine war has major economic consequences for energy, food, inflation and poverty, according to the European Bank for Reconstruction and Development...
Antarctica hits record temperatures – experts
The Manila Times, March 21, 2022
Agence France-Presse
Eastern Antarctica has recorded exceptionally high temperatures this week, more than 30 degrees Celsius above normal, experts said...
Thousands of refugees get IDs for new lives in Poland
Business Mirror, March 21, 2022
The Associated Press
Hoping to restore some normalcy after fleeing the war in Ukraine, thousands of refugees waited in long lines Saturday in the Polish capital of Warsaw to get identification cards that will allow them to get on with their lives—at least for now...
IMF board to discuss Argentine debt deal
The Manila Times, March 21, 2022
Agence France-Presse
The IMF board of directors will meet Friday to discuss Argentina's requested deal to restructure its $45-billion debt...
Turkey says Russia, Ukraine nearing agreement on ‘critical’ issues
Rappler, March 20, 2022
Reuters
Turkey’s foreign minister said in an interview published on Sunday, March 20, that Russia and Ukraine were nearing agreement on “critical” issues and he was hopeful for a ceasefire if the two sides did not backtrack from progress achieved so far...
Russia accused of bombing school sheltering hundreds in Ukraine
ABS-CBN News, March 20, 2022
Danny Kemp and Dmytro Gorshkov, Agence France-Presse
Ukrainian authorities said on Sunday that Russia had bombed a school sheltering 400 people in the besieged port of Mariupol, as Moscow claimed that it had again fired hypersonic missiles in Ukraine, the second time it had used the next-generation weapon on its neighbour...
Bitcoin to the rescue: cryptocurrencies' role in Ukraine
ABS-CBN News, March 20, 2022
Stephan Roth, Agence France-Presse
Cryptocurrencies have taken on an unprecedented role in the war in Ukraine, helping the government raise millions of dollars to fund its fight against the Russian invasion...
Russia says has again fired hypersonic missiles in Ukraine
The Manila Times, March 20, 2022
Russia said Sunday it has again fired its newest Kinzhal hypersonic missiles in Ukraine, destroying a fuel storage site in the country's south...
Conflict wounds Russian and Ukrainian currencies
Philippine Daily Inquirer, March 20, 2022
Agence France-Presse
Their economies rocked by conflict, Russian and Ukrainian authorities have deployed different tactics to defend their weakened currencies, with varying degrees of success...
Crypto provides fix for some in crisis-hit Afghanistan
Philippine Daily Inquirer, March 20, 2022
Agence France-Presse
In the middle of a bazaar in western Afghanistan, Arezo Akrimi takes out her smartphone and, after a few taps of the screen, changes some cryptocurrency for a bundle of hard cash...
PHL workers’ wages among lowest in terms of PPP–WB
Business Mirror, March 21, 2022
Cai Ordinario
Filipino workers received one of the lowest gross monthly minimum wages in terms of purchasing power parity (PPP), according to a report released by the World Bank...
NG subsidies to GOCC down 19% to P184.77B
Business Mirror, March 21, 2022
Bernadette D. Nicholas
Subsidies given away by the national government to state-run firms in 2021 amid the Covid-19 pandemic shrank to P184.77 billion, the lowest level since 2018...
Govt ramping up direct sale of food amid spikes in prices
Business Mirror, March 21, 2022
Jasper Y. Arcalas
The government will intensify its program of directly selling food commodities to Filipino consumers to mitigate the expected price spikes arising from the economic challenges caused by the Ukraine-Russia war, Trade Secretary Ramon M. Lopez said on Sunday...
Teachers' pay hike possible – Palace
The Manila Times, March 21, 2022
Philippine News Agency
Increasing the salary of teachers is possible, acting presidential spokesman and Communications Secretary Martin Andanar said...
‘Last mile’ vax strategy targets smaller LGUs
Manila Standard, March 21, 2022
Willie Casas
The government will shift its inoculation strategy to target smaller local government units in a bid to identify people who have yet to receive their COVID-19 jabs, an official of the National Vaccination Operations Center (NVOC) said Saturday...
Gov’t bares three-year goal to bring down budget deficit
Manila Standard, March 20, 2022
Julito G. Rada
The Department of Finance disclosed over the weekend a three-year plan to reduce the deficit-to-GDP ratio through fiscal consolidation as the economy resumes its vibrant growth after being stalled by the global health crisis...
Govt corporations, agencies get reduced subsidies in 2021
The Manila Times, March 21, 2022
Mayvelin U. Caraballo
In full-year 2021, the national government extended reduced subsidies to state-owned firms, with the majority of the funding going to the Philippine Health Insurance Corp. (Philhealth)...
P569 million fuel subsidy disbursed to drivers
Philippine Star, March 21, 2022
Elijah Felice Rosales
A total of P569 million in fuel subsidy has been distributed by the state-run Land Bank of the Philippines to cushion the impact of oil prices hikes on public utility vehicle (PUV) drivers...
2 million ‘defective’ ballots reclassified as ‘good’
Philippine Daily Inquirer, March 21, 2022
Dona Z. Pazzibugan
At least 2 million printed ballots for the May 9 elections that were originally considered “defective” were declared “good” ballots after being rechecked...
DOLE to pursue wage hike, grant
Manila Standard, March 20, 2022
Vito Barcelo
The Department of Labor and Employment will continue to push for a P24 billion-wage subsidy that could support minimum wage workers for three months even as the country’s economic managers were lukewarm to the proposal, citing the government’s overstretched budget...
Gov’t seeks private sector help in fight to end kids’ malnutrition
Philippine Daily Inquirer, March 21, 2022
Jane Bautista
The Department of Science and Technology (DOST) has appealed to the private sector to help finance the campaign to stop malnutrition among Filipino children...
FDA warns public vs unregistered COVID-19 test kits
Philippine Star, March 21, 2022
Mayen Jaymalin
The Food and Drug Administration (FDA) has warned the public anew to refrain from buying and using unregistered COVID-19 test kits that are being sold online...
COVID-19 Weekly Watch: A closer look at the one-dose vaccine
Rappler, March 21, 2022
Sofia Tomacruz
The Philippines continued to see a decline in infections, with case number staying below the 1,000 mark for over two weeks now. Meanwhile, Metro Manila and 47 other areas have been placed under Alert Level 1 or the “new normal” until the end of March...
More research, better pay for health workers: VP bets pitch plans to address COVID-19
Philippine Star, March 21, 2022
Two years after the coronavirus pandemic hit the Philippines, most curbs have been scrapped as the government ushers in a “new normal” and starts the country's recovery...
DoST creates new disaster response plan
The Manila Times, March 21, 2022
With the looming threat of natural hazards and disasters still in view even during the pandemic, local government units (LGUs) need to recalibrate disaster management plans and include pandemic scenarios that could possibly slow down the recovery process in case of disasters...
Cement plant + plastic waste = saving planet?
Business Mirror, March 20, 2022
Jonathan L. Mayuga
To help reduce the country’s solid waste generation, the Department of Environment and Natural Resources (DENR) is urging cement manufacturers to explore ways to utilize plastic waste as raw material and help cut half of the country’s garbage problem...
SEC flags unlicensed blockchain platform MetaProfit
Business World, March 21, 2022
The Securities and Exchange Commission (SEC) warned the public against investing in MetaProfit, a blockchain technology platform...
PhilHealth tops GOCC subsidy list in 2021
Business World, March 20, 2022
Subsidies extended to government-owned and -controlled corporations (GOCCs) declined 19% to P184.8 billion in 2021, with the bulk of the total going to the Philippine Health Insurance Corp. (PhilHealth)...
Economists see BSP keeping interest rates
Philippine Star, March 21, 2022
Lawrence Agcaoili
Economists see the Bangko Sentral ng Pilipinas (BSP) maintaining a pro-growth stance by keeping interest rates at record lows despite the fact that rising oil and commodity prices are putting monetary authorities in a tight spot...
Inflation seen rising
Philippine Star, March 21, 2022
Catherine Talavera
The country’s inflation is seen to temporarily rise in the coming months amid high global commodity prices, but is expected to return within the government’s target level, according to an international think tank...
BSP to keep policy rates steady — poll
Business World, March 21, 2022
Luz Wendy T. Noble
The Bangko Sentral ng Pilipinas (BSP) is widely expected to maintain policy rates at record lows on Thursday in line with its signals it will continue to support economic recovery...
Key rates likely kept unchanged at MB meet
Business Mirror, March 21, 2022
Bianca Cuaresma
The country’s monetary authority is expected to keep rates unchanged this week, amid local and international threats to inflation. The market, however, is closely anticipating the Bangko Sentral ng Pilipinas’ (BSP) forward guidance on the trajectory of its monetary policy for this year...
Ship liners eye 25% rate hike
Manila Standard, March 21, 2022
Darwin G. Amojelar
Shipping companies, particularly those operating out of Manila, warned that passenger and freight rates could go up 25 percent due to skyrocketing fuel prices...
PHL stocks may rebound on Russia-Ukraine talks
Business World, March 21, 2022
Stocks may rebound this week amid proposed peace talks between Russia and the Ukraine and expectations of a further reopening of the economy with the nationwide implementation of Alert Level 1, the least strict restrictions...
High transport costs push food prices up
Manila Standard, March 21, 2022
Othel V. Campos
Prices of basic food items have already risen by as much as P60 in some markets in Metro Manila following 11 straight weeks of increases in the pump prices of petroleum products in the country...
Volatility remains name of equities game
Daily Tribune, March 21, 2022
TDT
Balance of payments figures are being monitored as the market wades through a minefield created by the still persistent pandemic and the new uncertainties caused by the Easter European conflict...
Producers nix easing corn imports entry
Daily Tribune, March 21, 2022
Maria Romero
Local corn producers said reduction in corn tariffs, including the proposed increase in allowable import volumes, will jeopardize the 62.5 million Filipinos involved in corn farming and related industries...
PhilRice to start seed distribution for wet season
The Manila Times, March 21, 2022
Eireene Jairee Gomez
The Department of Agriculture-Philippine Rice Research Institute (DA-PhilRice) is set to distribute 1.8 million bags of certified seeds to more than 740,000 farmers this 2022 wet season planting through the Rice Competitiveness Enhancement Fund (RCEF) Seed Program...
Infra investments to continue – DoF
The Manila Times, March 20, 2022
Mayvelin U. Caraballo
While reducing the country's debt remains a top objective for the government, curtailing infrastructure investment is not an option, the Department of Finance (DoF) said...
Food prices climb amid series of pump price hikes
GMA News, March 20, 2022
John Viktor D. Cabuenas
Prices of basic food items have increased by as much as P60, following the 11 straight weeks of increases in the pump prices of petroleum products in the country...
Garment exporters oppose planned 4-day workweek
Manila Bulletin, March 20, 2022
Bernie Cahiles-Magkilat
Garments, textile and apparel exporters disagreed with the proposal by the country’s top macroeconomic manager Sec. Karl Kendrik Chua for a 4-day workweek to help business cut costs and insulate workers from rising fuel prices, stressing such policy will only jack up cost and a roadblock to productivity...
Farmers’ group slams gov’t report on PH’s unemployment decline
Manila Bulletin, March 20, 2022
Charie Mae F. Abarca
The government’s latest unemployment statistics failed to include discouraged workers in the agriculture sector that were forced out of farming activities, peasant group Kilusang Magbubukid ng Pilipinas (KMP) said on Sunday, March 20...