March 28, 2022
BSP: rate hikes won’t ease inflation woes
BusinessMirror, March 28, 2022
Bianca Cuaresma
The Bangko Sentral ng Pilipinas (BSP) said the Executive department should “do the heavy lifting” in keeping inflation at bay, as price surges stem from supply side pressures...
Decision on price increase requests in 2-3 weeks – DTI
Philippine Star, March 28, 2022
Louella Desiderio
The Department of Trade and Industry (DTI) is looking to come up with a decision on the requests from manufacturers to hike prices on basic goods in two to three weeks...
State’s 2021 infrastructure spending hits P895B
BusinessWorld, March 28, 2022
Tobias Jared Tomas
Government infrastructure spending rose by almost a third to P895.1 billion last year, more than the P761.2-billion target, according to Budget department data...
BSP lists non-monetary measures vs inflation
The Manila Times, March 28, 2022
Mayvelin U. Caraballo
The Bangko Sentral ng Pilipinas (BSP) reaffirmed that addressing rising consumer prices does not always require monetary policy changes because the Executive Department can undertake the heavy lifting in the form of non-monetary measures to reduce the risk of second-round impacts on consumers...
Alert downgrade superfluous — DTI
Daily Tribune, March 28, 2022
Raffy Ayeng
As Metro Manila Mayor indicated backing for a further downgrade of the alert system to level zero, Trade Secretary Ramon Lopez said such a declaration is not needed as almost all industries now enjoy the most lenient status allowing them to operate at full capacity...
Infra spending hit record P 1.12T in 2021, says DBM
Philippine Daily Inquirer, March 28, 2022
Ben O. de Vera
Public infrastructure spending surged to a record-high P1.12 trillion in 2021, equivalent to 5.8 percent of gross domestic product (GDP), as more road, airport and railway projects were rolled out last year when the economy further reopened from the most stringent COVID-19 lockdowns two years ago...
‘Antimarket’ provisions in new BOT rules bucked
Philippine Daily Inquirer, March 28, 2022
Doris Dumlao-Abadilla
The outgoing administration plans to scrap arbitration as a means for settling disputes in public-private partnership (PPP) projects, raising concerns among economists and investors who also flagged other “antimarket” provisions in the new Build-Operate-Transfer (BOT) draft guidebook...
Omicron dampened firms’ bullishness in Q1
Philippine Daily Inquirer, March 28, 2022
Ronnel W. Domingo
Business confidence in the first quarter of 2022 remained bullish, but less so due to the surge in COVID-19 infections involving the Omicron variant, according to the Bangko Sentral ng Pilipinas (BSP)...
After lib bills, MBC pushes early okay of RCEP
BusinessMirror, March 28, 2022
Jasper Y. Arcalas
The Makati Business Club (MBC) is hoping for the earliest ratification of the Regional Comprehensive Economic Partnership (RCEP) following recent successes by the government in enacting numerous economic liberalization measures...
Gov’t requested to approve price hikes for 33 grocery items
BusinessWorld, March 27, 2022
Revin Mikhael D. Ochave
Some 33 grocery items are currently the subject of requests for price increases, with manufacturers mainly citing the surge in fuel prices, according to the Department of Trade and Industry (DTI)...
PEZA to allow 70-30 hybrid work model
Manila Bulletin, March 27, 2022
Bernie Cahiles-Magkilat
The Philippine Economic Zone Authority (PEZA) is issuing a memorandum circular (MC) allowing its registered IT-business process management (IT-BPM) enterprises to operate 70 percent onsite and 30 percent work from home (WFH)...
Reports needed from Islamic bank
Daily Tribune, March 28, 2022
Raadee Sausa
The central bank has approved the prudential reporting framework for Islamic Banks (IB) and Islamic Banking Units (IBU) as part of initiatives to promote Islamic banking in the country. The reporting framework sets the accounting treatment of common Islamic banking arrangements...
Senate resumes probe on agriculture smuggling today
Philippine Star, March 28, 2022
Paolo Romero
The Senate committee of the whole resumes today its inquiry into the unabated large-scale smuggling of agricultural products that is crippling farmers and fisherfolk while hampering the country’s economic recovery from the COVID pandemic...
Tax rules for the "e-sabong” businesses
The Manila Times, March 28, 2022
Sharmaine Astrologo
At the peak of the Covid-19 pandemic when mobility was severely restricted, businesses resorted to alternative modes of operation, often involving modern technology and the use of online platforms. This gave birth to the "e-sabong" business...
PSA changes to create more jobs
The Manila Times, March 28, 2022
Anna Leah E. Gonzales
The amendments to the Public Service Act (PSA) will help create more employment opportunities for Filipinos, the Makati Business Club (MBC) said...
SEC warns influencers pushing illegal online lenders
Philippine Daily Inquirer, March 28, 2022
Miguel R. Camus
The Securities and Exchange Commission (SEC) released a fresh batch of closure orders to stop a seemingly endless wave of unlicensed online lenders, whose rise was fueled by unwitting victims and social media influencers...
DTI acts to stop misleading ads
The Manila Times, March 28, 2022
Anna Leah E. Gonzales
The Department of Trade and Industry (DTI), through its Consumer Protection Group, has renewed its partnership with the Ads Standard Council (ASC) to protect consumers from false, deceptive and misleading advertisements...
DOLE launches mobile service for OFWs in Al Khobar
The Manila Times, March 27, 2022
Jomar Canlas
The growing needs of Filipino workers in Al Khobar and other areas in the eastern region in Saudi Arabia prompted the Department of Labor and Employment to launch its mobile service program...
PCG slams dangerous move
by Chinese ship off Masinloc
BusinessMirror, March 28, 2022
Rene Acosta
The Philippine Coast Guard slammed on Sunday China’s dangerous maneuvering of one of its ships against the BRP Malabrigo while on maritime patrol operations in Bajo de Masinloc...
Fund public transport to create jobs, ease congestion in cities
BusinessMirror, March 28, 2022
Cai Ordinario
Public transport remains a potent investment in creating jobs and alleviating congestion in cities, according to the Asian Development Bank (ADB)...
Moody’s Analytics raises 2022 Philippine GDP growth estimate
BusinessWorld, March 28, 2022
Luz Wendy T. Noble
Moody's Analytics has raised its 2022 growth estimate for the Philippines after stronger-than-expected recovery last quarter, even as it warned of price pressures from Russia’s continued invasion of Ukraine...
ADB to assist Bangsamoro region in fiscal management
BusinessWorld, March 27, 2022
Tobias Jared Tomas
The Asian Development Bank (ADB) will provide technical assistance to local government units and agencies within the Bangsamoro region to strengthen management of public funds...
EU heartened by PH support for UN resolution on Ukraine's humanitarian situation
Manila Bulletin, March 27, 2022
Argyll Cyrus Geducos
The European Union (EU) delegation to the Philippines was heartened by the country’s support for a United Nations (UN) resolution that demands an immediate cessation of hostilities in Ukraine, particularly attacks against civilians...
Tamiya of Japan investing P1.5N in new Cebu factory'
Manila Standard, March 27, 2022
Othel V. Campos
Tamiya Philippines Inc., a part of Japan’s Tamiya Group, announced a P1.5-billion expansion inside the Cebu Light Industrial Park...
India joining RCEP beneficial – Japanese official
The Manila Times, March 28, 2022
Even after India quit negotiations to join the Regional Comprehensive Economic Partnership (RCEP) two years ago, the currently 15-nation trade deal is still open for the South Asian country to join, according to a senior Japanese official...
Biden says 'butcher' Putin 'cannot remain in power'
Philippine Star, March 28, 2022
Aurelia End, Agence France-Presse
US President Joe Biden on Saturday castigated Vladimir Putin over the month-old war in Ukraine, bluntly calling the Russian leader "a butcher" who "cannot remain in power"...
Ukraine says Russia wants to split nation, calls for more arms
Philippine Daily Inquirer, March 27, 2022
Reuters
Russia wants to split Ukraine into two, as happened with North and South Korea, Ukraine’s military intelligence chief said on Sunday, vowing “total” guerrilla warfare to prevent a carve-up of the country...
Ukraine ready to discuss adopting neutral status in Russia peace deal – Zelenskiy
Rappler, March 28, 2022
Reuters
Ukraine is prepared to discuss adopting a neutral status as part of a peace deal with Russia but such a pact would have to be guaranteed by third parties and put to a referendum, Ukrainian President Volodymyr Zelenskiy said in remarks aired on Sunday, March 27...
Zelensky says Russian businessmen offered Ukraine support
Philippine Daily Inquirer, March 28, 2022
Agence France-Presse
President Volodymyr Zelensky said Sunday that Ukraine had received offers of support from Russian businessmen and that Kyiv would give refuge to anyone who backed his country’s fight against Moscow...
Kim Jong Un: North Korea will keep developing 'formidable striking capabilities' —report
GMA News, March 28, 2022
Josh Smith, Reuters
North Korea will continue to develop "formidable striking capabilities" that cannot be bartered or sold for anything, leader Kim Jong Un said, according to state media on Monday, as he visited workers involved with the country's biggest missile test...
Shanghai to lock down in phases to rein in COVID-19 outbreak
ABS-CBN News, March 28, 2022
Dan Martin, Agence France-Presse
Shanghai will launch a phased lockdown to curb an Omicron-fuelled Covid-19 outbreak that has hit China with its highest caseloads since the early days of the pandemic, the city government said Sunday...
Ukrainian civilian death toll reaches 1,119 – UN
Philippine Daily Inquirer, March 27, 2022
Reuters
The United Nations human rights office said on Sunday that the civilian death toll in Ukraine had risen to 1,119 civilians with 1,790 wounded since Russia began its attack...
Business, workers hold their breath on long-awaited bid for wage hikes
BusinessMirror, March 28, 2022
Samuel P. Medenilla
Stakes are high in the ongoing review being conducted by the regional wage boards for the possible next round of minimum wages adjustments...
Household service workers included in wage rate talks
BusinessMirror, March 28, 2022
Even household service workers (HSW) could benefit from the ongoing minimum wage rate review being conducted by the regional wage boards, according to the National Wages and Productivity Commission (NWPC)...
IC closely watching compliance of PhilHealth, PCIC with PFRS 4
BusinessMirror, March 28, 2022
Bernadette D. Nicolas
The Insurance Commission (IC) is closely watching the compliance of the Philippine Health Insurance Corp. (PhilHealth) and the Philippine Crop Insurance Commission (PCIC) in adopting the current Philippine accounting standards...
Task force must pursue conviction of vote buyers, sellers
BusinessWorld, March 27, 2022
John Victor D. Ordoñez
The Commission on Elections’ (Comelec) planned task force against vote-buying should resolve to jail vote buyers and sellers, political analysts said at the weekend...
Philippines logs new bird flu outbreaks
Philippine Star, March 28, 2022
Catherine Talavera
The Philippines has reported new outbreaks of avian influenza or bird flu in five provinces...
99 percent of policemen fully vaccinated
The Manila Times, March 27, 2022
Francis Earl Cueto
Philippine National Police chief Gen. Dionardo Carlos on Sunday said that 99 percent of policemen have been fully vaccinated against Covid-19...
Alert Level 3 still up in Taal Volcano
ABS-CBN News, March 28, 2022
State volcanologists on Monday maintained the alert status of Taal Volcano to Alert Level 3, which means it was experiencing "magmatic unrest"...
Officials to Taal evacuees: Still risky to go home
Philippine Daily Inquirer, March 28, 2022
Delfin T. Mallari Jr.
With Alert Level 3 raised over Taal Volcano after a “phreatomagmatic” explosion early Saturday, local officials have told over 5,000 people from the towns of Agoncillo and Laurel in Batangas province to remain in evacuation centers...
Teachers question DepEd on budget for school reopening
Philippine Daily Inquirer, March 28, 2022
Jane Bautista
A teachers’ group has called out the national government for taking advantage of the generosity of teachers who used their own money for the preparation of in-person classes in their respective schools...
No volcanic quake from Taal recorded in the last 24 hours —Phivolcs
Philippine Daily Inquirer, March 28, 2022
Daniza Fernandez
No volcanic quakes were recorded in Taal Volcano in the past 24 hours, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported on Monday...
MRT-3 deploys first 4-car train set
Philippine Daily Inquirer, March 28, 2022
Daniza Fernandez
The Metro Rail Transit Line 3 (MRT-3) deployed its first-ever four-car train set on Monday. Prior to the 4-car train set deployment, only three-car train sets were serving the MRT-3 line...
3K folk flee danger zone as Taal remains Alert Level 3
Manila Standard, March 28, 2022
Rio N. Araja
Almost 900 families or nearly 3,000 people have fled their homes near Taal Volcano since Saturday after an eruption sent ash and steam hundreds of meters into the sky, the government said yesterday...
Gov’t to double efforts vs. hunger
Manila Standard, March 28, 2022
The government will double its efforts to continuously address hunger and poverty in the country following a recent survey from the fourth quarter of 2021, Malacañang vowed on Sunday...
Fewer companies plan to expand; more workers eyed
BusinessWorld, March 28, 2022
Luz Wendy T. Noble
Fewer local companies expect to expand their operations even if they plan to hire more workers, according to a study by the Philippine central bank...
Builders see project cost projections in disarray
BusinessWorld, March 27, 2022
Arjay L. Balinbin
Building costs that were based on estimates from before the current rise in fuel prices are in danger of spiralling, according to construction companies, which said end-users will eventually need to help them recover the costs...
Demand for OFWs revving up remittances growth
Philippine Daily Inquirer, March 28, 2022
Ronnel W. Domingo
The need of other countries for doctors and health workers as well as skilled builders and housekeepers—as they recover from the pandemic—as well as increased use of digital financial services are boosting overseas deployment of Filipino workers and shoring up remittances to the Philippines...
Short-term measures eyed to tame inflation
Philippine Star, March 28, 2022
Elijah Felice Rosales
The Bangko Sentral ng Pilipinas (BSP) has urged Malacañang to pursue several initiatives, including expanding social interventions and trimming import duties, to tame inflation in the short term...
Campaign fever, business pickup energizing stock market
Philippine Daily Inquirer, March 28, 2022
Miguel R. Camus
Investors would be on the lookout for signs of economic recovery with the further reopening of business activity and movements in commodity prices...
PH manufacturing activity likely sped up anew in March
Philippine Daily Inquirer, March 28, 2022
Ben O. de Vera
Overall domestic manufacturing sector performance, as measured by the purchasing managers’ index (PMI), likely sustained growth in March with many parts of the country moving to the lowest alert level in pandemic restrictions...
Peso seen ending 2022 near P53:$1
The Manila Times, March 27, 2022
Mayvelin U. Caraballo
The Philippine peso is likely to end the year at about 53 to the dollar, ANZ Research projected, due to the expected widening trade gap brought on by domestic and external factors...
Stocks may consolidate at 7,000 level
Philippine Star, March 28, 2022
Iris Gonzales
After a four-day run up last week, local stocks are expected to consolidate at the 7,000 level as the Russia-Ukraine conflict drags on...
Manila needs better public transport – ADB
Philippine Star, March 28, 2022
Louise Maureen Simeon
The country’s capital and other urban cities need to provide quality public transportation to improve livability and not just construct roads that would eventually contribute to congestion, the Asian Development Bank (ADB) said...
Mobile wallets to drive PH crypto adoption
Philippine Daily Inquirer, March 28, 2022
Tyrone Jasper C. Piad
Mobile wallets are expected to drive cryptocurrency transactions as more Filipinos have adopted digital platforms in accomplishing banking and other financial needs, according to Fintech Alliance.ph...