March 23, 2022
Citi, Nomura cut Philippine GDP growth forecasts
Philippine Star, March 23, 2022
Lawrence Agcaoili
Global banking giant Citi and Japan’s Nomura slashed their gross domestic product (GDP) growth forecasts for the Philippines as soaring global oil prices from Russia’s invasion of Ukraine may dampen consumption...
Duterte orders adoption of 10-point policy agenda to hasten economic recovery
Philippine Daily Inquirer, March 23, 2022
Daniza Fernandez
President Rodrigo Duterte has ordered the adoption of a 10-point policy agenda to hasten and sustain the country’s economic recovery from the COVID-19 pandemic...
Govt raises $2.25B in global bonds
The Manila Times, March 23, 2022
Mayvelin U. Caraballo
The government raised $2.25 billion (about P118 billion) through its most recent dollar bond (RTB) issuance, which would be utilized to support the national budget and the country's Sustainable Finance Framework...
Higher energy costs to weigh on PHL growth
Business World, March 23, 2022
The Philippine economy's recovery this year may face risks arising from higher energy costs and the ongoing coronavirus pandemic...
Pagasa: Start conserving water now
Philippine Daily Inquirer, March 23, 2022
Frances Mangosing and Jordeene B. Lagare
The National Water Resources Board (NWRB) will decide next week on the water allocation for Metro Manila, amid warnings by the state weather bureau of a possible water shortage in the next few months...
PHL at low risk classification as Covid-19 cases continue to slide
Business Mirror, March 22, 2022
Claudeth Mocon-Ciriaco
The Department of Health (DOH) on Tuesday said the Philippines is now at minimal risk case classification, as Covid-19 cases continue to slow down in all regions...
BSP bullish on inflow of capital from abroad
Manila Standard, March 23, 2022
Julito G. Rada
Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Tuesday that the amendments to the Public Service Act and other vital economic reforms is likely to attract more foreign direct investments in the Philippines...
Palace: Mask mandate stays
Daily Tribune, March 23, 2022
MJ Blancaflor
President Rodrigo Duterte has dismissed the possibility of removing the mask mandate despite the decreasing number of coronavirus infections in the Philippines being tempered by the persisting threat of new virus variants...
Año: LGUs to soon require safety seals in business permit application
Philippine Daily Inquirer, March 22, 2022
Cathrine Gonzales
Local government units (LGUs) will soon require safety seal certifications for business permits application and renewal, Interior Secretary Eduardo Año said Tuesday...
New PSA to spur $100-billion investments–DTI chief
Business Mirror, March 22, 2022
Jasper Y. Arcalas
Trade Secretary Ramon M. Lopez on Tuesday said the enactment of the amended Public Service Act (PSA) could lead to over $100-billion investments in telecommunication, transportation and logistics in the next two years...
Poe sees ‘swift passage’ of bill on motorcycles for hire
Philippine Daily Inquirer, March 22, 2022
Christia Marie Ramos
Sen. Grace Poe sees the “swift passage” of a bill regulating the use of motorcycles for hire for public transport before the 18th Congress ends...
Amendments to Public Service Act lauded
The Manila Times, March 23, 2022
Anna Leah E. Gonzales
Government agencies and business chambers on Tuesday lauded the signing of the amendments to the Public Service Act (PSA), noting these will help the Philippines attract more foreign direct investments (FDIs)...
Satellite technology seen to help banks ensure business continuity during disasters
Business World, March 23, 2022
Liberalized access to satellite technology is expected to benefit banks and their clients as it could help ensure business continuity during disasters...
OECD: PH economy to grow fastest in Southeast Asia in 2022
Philippine Daily Inquirer, March 22, 2022
Ben O. de Vera
The Organization for Economic Cooperation and Development (OECD) of rich nations expects the Philippine economy to grow fastest in Southeast Asia this year, even as its labor market could take time to recover due to the scarring inflicted by the COVID-19 pandemic...
Phl, Russia’s ally — envoy
Daily Tribune, March 23, 2022
MJ Blancaflor and Raffy Ayeng
President Rodrigo Duterte has warned of a Chinese invasion of the Philippines should Russian President Vladimir Putin use nuclear weapons against Ukraine...
OECD: PH economy to grow fastest in Southeast Asia in 2022
Philippine Daily Inquirer, March 22, 2022
Ben O. de Vera
The Organization for Economic Cooperation and Development (OECD) of rich nations expects the Philippine economy to grow fastest in Southeast Asia this year, even as its labor market could take time to recover due to the scarring inflicted by the COVID-19 pandemic...
8,900 soldiers make up joint US-PH drills
Manila Standard, March 23, 2022
Rey E. Requejo
Some 8,900 military personnel from the Armed Forces of the Philippines and the United States Armed Forces will participate in the Balikatan 2022, the largest-ever iteration of the joint military drills that will take place across Luzon from March 28 to April 8...
Ukraine says ‘confrontational’ Russia talks moving forward as West plans more sanctions
Rappler, March 23, 2022
Reuters
Talks between Ukraine and Russia are confrontational but moving forward, President Volodymyr Zelenskiy said on Wednesday, March 23, as the West plans to announce more sanctions against the Kremlin amid a worsening humanitarian crisis...
'Hellscape' in Mariupol as UN chief pleads for Ukraine
Philippine Star, March 23, 2022
Danny Kemp and Dmytro Gorshkov, Agence France-Presse
Thousands of Ukrainians sought to escape the hellish siege of Mariupol on Tuesday, as Russia pounded the city with bombs and UN chief Antonio Guterres appealed for Moscow to end its "unwinnable" war...
Novavax COVID-19 vaccine gets India authorization for teens
GMA News, March 23, 2022
Novavax Inc said on Tuesday its COVID-19 vaccine has got emergency-use authorization from the Drugs Controller General of India for children aged 12 to 17 years.
US plans to allow in more Ukrainians after few refugees admitted
Philippine Daily Inquirer, March 23, 2022
Reuters
The Biden administration plans to launch an effort this week to make it easier for some Ukrainians fleeing the Russian invasion of their country to come to the United States after only a handful of refugees were admitted in the first two weeks of March, according to three people familiar with the matter...
Frustration in Myanmar over ASEAN envoy’s peace mission
Rappler, March 22, 2022
Reuters
Small protests took place in military-ruled Myanmar on Tuesday, March 22, against a visit by a Southeast Asian envoy, whose peace mission has been derided by critics as a failure and an endorsement of a junta condemned by the United Nations for its harsh rule...
COVID makes dramatic resurgence in Europe as gov’ts lift restrictions
Manila Standard, March 23, 2022
Macon Ramos-Araneta
COVID-19 is again surging in Western Europe due to a “perfect storm” of governments lifting restrictions, waning immunity, and the more contagious BA.2 Omicron subvariant, experts have said...
Japan protests Russia move to drop peace talks over Ukraine
The Manila Times, March 22, 2022
Agence France-Presse
Japan said Tuesday it "strongly protests" Russia's decision to abandon talks on a World War II peace treaty because of Tokyo's strong response to the invasion of Ukraine...
Italian study shows ventilation can cut school COVID cases by 82%
GMA News, March 23, 2022
An Italian study published on Tuesday suggests that efficient ventilation systems can reduce the transmission of COVID-19 in schools by more than 80%...
Don’t move Bayanihan 2 funds – Duterte
Philippine Star, March 23, 2022
Helen Flores
President Duterte has appealed to Congress not to move the unused funds under the Bayanihan to Recover as One Act (Bayanihan 2), saying these could be used in case of another COVID-19 surge...
Expanded face-to-face: Schools told to coordinate with LGUs
Philippine Star, March 23, 2022
Romina Cabrera
Regional offices of the Department of Education (DepEd) and concerned schools should coordinate with local government units (LGUs) for the return of school facilities that were used as vaccination sites...
Duterte: Use public transport
Manila Standard, March 23, 2022
Vito Barcelo
In view of the skyrocketing cost of fuel, President Rodrigo Duterte on Tuesday encouraged people to take public transport instead of driving their cars...
Comelec to form task force to probe vote-buying
Manila Standard, March 23, 2022
The Commission on Elections (Comelec) on Tuesday said it will create a task force that will investigate and prosecute all reports and allegations of vote-buying during the 2022 elections, Commissioner George Garcia said Tuesday...
Comelec to resume 'Operation Baklas'
The Manila Times, March 23, 2022
William Depasupil
The Commission on Elections (Comelec) will resume its "Operation Baklas" or dismantling of prohibited campaign materials on Friday, the start of the official 45-day campaign period for candidates for local positions in the May 9 polls...
DoH open to yearly jabs
The Manila Times, March 23, 2022
Red Mendoza
The Department of Health (DoH) on Tuesday said it is ready to administer yearly inoculations for Covid-19 if there is strong evidence to back up the move...
9 regions miss vax drive target
Philippine Star, March 23, 2022
Helen Flores
Nine regions failed to meet their target during the fourth phase of the three-day National Vaccination Days against COVID-19 this month, the Department of Health (DOH) reported yesterday...
DOF squeezing GOCCs to fund bigger cash aid
Philippine Daily Inquirer, March 22, 2022
Ben O. de Vera and Dempsey Reyes
The Department of Finance (DOF) will squeeze government-owned and -controlled corporations (GOCCs) to fund the bigger cash aid ordered by President Rodrigo Duterte for the poorest households...
Gov’t searching for funds to finance ‘ayuda’ for poor
Manila Standard, March 23, 2022
Macon Ramos-Araneta
The Department of Social Welfare and Development is now coordinating with the Department of Finance to fund the additional P300 cash aid for indigent families after President Rodrigo Duterte ordered to raise their monthly “ayuda” from P200 to P500...
DOE tells government agencies to conserve energy
Philippine Star, March 23, 2022
Danessa Rivera
Ben O. de Vera and Dempsey Reyes
The Department of Energy (DOE) has called on government agencies to strictly observe the Government Energy Management Program (GEMP) guidelines to contribute to electricity and fuel conservation efforts amid energy woes the country is now facing...
Comelec: No way hackers can affect May 9 poll results
Philippine Daily Inquirer, March 23, 2022
Dona Z. Pazzibugan
Commissioner Marlon Casquejo of the Commission on Elections (Comelec) assured the public on Tuesday that there was “no way” hackers could manipulate the results of the May 9 polls...
Omicron remains dominant COVID variant – DOH
Philippine Daily Inquirer, March 23, 2022
Jerome Aning and Kathleen de Villa
The Omicron variant of COVID-19 remains the most dominant strain in the country based on samples that underwent genome sequencing, according to Department of Health (DOH) Undersecretary Maria Rosario Vergeire...
DBM: Contracted PUVs to receive P7 billion subsidies
Philippine Daily Inquirer, March 22, 2022
Ben O. de Vera
Besides fuel subsidies, some drivers of contracted public utility vehicles (PUVs) would also receive incentives corresponding to their number of trips despite costly oil...
Comelec can file charges over Cavite 'vote-buying': lawyer
ABS-CBN News, March 23, 2022
The Commission on Elections can file charges over an alleged vote-buying incident during a campaign rally of presidential candidate Ferdinand "Bongbong" Marcos Jr. and vice-presidential candidate Sara Duterte-Carpio, an election lawyer said Wednesday...
PH’s Covid-19 positivity rate up slightly to 2.5% but risk still ‘very low’, says OCTA
Manila Bulletin, March 22, 2022
Ellalyn De Vera-Ruiz
The Covid-19 positivity rate in the Philippines has slightly increased to 2.5 percent but the country’s risk level remains “very low,” the independent research group OCTA said on Tuesday, March 22...
All regions at ‘minimal risk’ for COVID-19 — DOH
CNN Philippines, March 22, 2022
CNN Philippines Staff
All regions in the country are at minimal risk for COVID-19 as infections slow down, the Department of Health said Tuesday...
Yearly COVID-19 vaccination ‘long been discussed, planned’ by govt — DOH
CNN Philippines, March 22, 2022
CNN Philippines Staff
The government is ready to give the eligible population yearly shots against COVID-19 if enough evidence shows the necessity for it, the Department of Health said Tuesday...
DOH pushes 4th dose for elderly, with underlying illnesses
CNN Philippines, March 22, 2022
CNN Philippines Staff
The Department of Health has submitted an application to the Food and Drug Administration for the amendment of the emergency use application of COVID-19 vaccines to allow a fourth dose for senior citizens and immunocompromised individuals...
Share prices recover on strong banking stocks
Philippine Star, March 23, 2022
Irish Gonzales
The stock market recovered yesterday, buoyed largely by the strong banking sector, analyst said...
DoF: Keep WFH but lose perks
Daily Tribune, March 23, 2022
TDT
There is no conflict on the recent directive regarding the office setup option as the pandemic exits with the Department of Finance (DoF) clarifying yesterday that Information Technology Business Process Management (IT-BPM) companies in ecozones and those registered with investment promotion agencies (IPA) are free to adopt work from home (WFH) office arrangements with one caveat: surrender state incentives...
Neda Board under Duterte okays projects worth P 5.3T
Philippine Daily Inquirer, March 23, 2022
Ben O. de Vera
From July 2016 up to three months before President Duterte steps down from office, the National Economic and Development Authority (Neda) Board that he chairs approved 111 big-ticket infrastructure projects worth a total of P5.3 trillion...
'Four-day workweek or not, the goal is economic recovery'
The Manila Times, March 23, 2022
Kristina Maralit
Whether the government adopts a four-day workweek or a hybrid/flexible work arrangement, the goal is to ensure economic recovery, Presidential Adviser for Entrepreneurship Jose Maria "Joey" Concepcion 3rd said on Tuesday...
Stocks cheer liberalization law, higher subsidy for the poor
Philippine Daily Inquirer, March 23, 2022
Miguel R. Camus
Philippine shares were mostly higher on Tuesday after President Duterte increased subsidies for poor households pummeled by higher inflation...
VAT take sustains poor’s subsidies
Daily Tribune, March 23, 2022
Raadee Sausa
Economic managers said the budget will accommodate the directive of President Rodrigo Duterte to raise the cash subsidy for low-income families to P500 per month through the use of higher collections from the value added tax including those on oil products...
Corn sector needs ‘viability gap’ fund
Daily Tribune, March 23, 2022
Maria Romero
The government needs a so-called “viability gap” fund to ramp up the development of the corn industry, which is now facing headwinds as the economic team bats for reduced corn tariffs and increased import allocation...
DoF reviews PPP contractsVAT take sustains poor’s subsidies
The Manila Times, March 23, 2022
Mayvelin U. Caraballo
The Department of Finance (DoF) said it had reviewed about a dozen large-scale public-private partnership (PPP) contracts in order to reduce the state's risks and exposure to contingent liabilities...
Neda chief: Mix of economic reforms to shield PH from Ukraine war impact
Philippine Daily Inquirer, March 22, 2022
Ben O. de Vera
With amendments to the antiquated Public Service Act now a law and expected to dismantle monopolies, President Rodrigo Duterte’s trio of economic liberalization bills have been completed and, through more foreign investment inflows, would protect the Philippine economy from spillover impacts of Vladimir Putin’s invasion of Ukraine, the Philippines’ chief economist said on Tuesday (March 22)...
Back-to-office order wins business groups’ support
Philippine Daily Inquirer, March 22, 2022
Doris Dumlao-Abadilla
Some of the country’s biggest business groups, including top property developers, have backed the government’s criticized directive to end work-from-home (WFH) arrangements, citing the need to rekindle economic activity as a “a key milestone toward the country’s journey to post-pandemic normalcy.”...
Duterte unveils rehabilitated MRT3
The Manila Times, March 22, 2022
Kristina Maralit
President Rodrigo Duterte on Tuesday assured users of the Metro Rail Transit Line-3 (MRT-3) that they will no longer experience ride disruptions as he led the unveiling of the newly rehabilitated rail line in Mandaluyong City...
PHL travel industry woos Japan with sales pitch focused on safety
Business World, March 22, 2022
THE Department of Tourism (DoT) said it has pitched the Philippines to the Japanese travel market as a safe destination, following the sustained decline of coronavirus cases here...