March 7, 2022
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'Worst of pandemic over'
'Worst of pandemic over'
The Manila Times, March 7, 2022
Kaithreen Cruz
The worst of the Covid-19 pandemic may be over for now, but the coming elections in May could trigger new risks, an OCTA Research senior fellow said on Sunday...
Gross borrowings hit P2.58 trillion in 2021
BusinessWorld, March 7, 2022
Jenina P. Ibañez
Gross borrowings by the National Government from domestic and external sources hit P2.58 trillion in 2021, as it continued to finance its pandemic response, data from the Bureau of the Treasury (BTr) showed...
Local expertise to build, operate nuke plant assured
Philippine Star, March 7, 2022
Ranier Allan Ronda
There are local as well as foreign-based Filipino engineering experts who can be tapped to run nuclear power plants in the Philippines, according to the country’s nuclear science chief...
Philippines remains on FATF ‘gray list’
BusinessWorld, March 7, 2022
Luz Wendy T. Noble
The Philippines remained on the “gray list” of jurisdictions subjected to increased monitoring for “dirty money” risks, according to the Financial Action Task Force (FATF)...
BSP chief says PHL credit rating downgrade unlikely
BusinessWorld, March 7, 2022
Luz Wendy T. Noble
The Philippines' investment grade rating is unlikely to be downgraded as the country’s outstanding debt remains “manageable,” the central bank governor said...
Electric bills next in line to shoot up
Manila Standard, March 7, 2022
Alena Mae S. Flores
Consumers will have to brace for high electricity bills amid soaring prices in the world market for oil and coal, compounding their...
Proposed Agri-Agra Law amendments a loophole — FFF
Proposed Agri-Agra Law amendments a loophole — FFF
The Manila Times, March 5, 2022
Eireene Jairee Gomez
Group Federation of Free Farmers (FFF) released its analysis and identified "loopholes" in both versions of the proposed amendments Republic Act (RA) 10000, or the Agri-Agra Reform Credit Act of 2009...
MMDA now discussing possible return of Edsa motorcycle lane, says chairman
MMDA now discussing possible return of Edsa motorcycle lane, says chairman
Philippine Daily Inquirer, March 6, 2022
Cathrine Gonzales
The Metro Manila Development Authority (MMDA) is now discussing the possible return of a motorcycle lane along Epifanio de los Santos Avenue (Edsa), its new chairman said Sunday...
CSC: Face mask, shield required for civil service exam
Philippine Star, March 7, 2022
Elizabeth Marcelo
The Civil Service Commission (CSC) has reminded examinees for the Career Service Examination pen and paper test scheduled on March 13 to wear face mask and shield or they would be denied entry to the testing venue...
Businesses laud changes to Foreign Investments Act
Philippine Star, March 6, 2022
Louella Desiderio
The approval of the amendments to the Foreign Investments Act (FIA) is seen boosting the country’s economic recovery efforts, according to the Department of Trade and Industry (DTI) and business groups...
SC sticks to ruling allowing foreign contractors in PHL
BusinessMirror, March 7, 2022
Joel. R. San Juan
The Supreme Court (SC) has denied the appeal of the government to abandon its decision issued in March 2020 allowing foreign construction firms to obtain licenses and engage in private or government projects in the country...
BSP drafts rules simplifying bank mergers
Manila Bulletin, March 6, 2022
Lee C. Chipongian
The Bangko Sentral ng Pilipinas (BSP) has issued proposed guidelines for the streamlined procedures for banks’ merger, consolidation and acquisition (MCA) applications...
PH must step up digital shift for better cash aid system – WB
PH must step up digital shift for better cash aid system – WB
Philippine Daily Inquirer, March 6, 2022
Ben O. de Vera
The World Bank (WB) has urged the Philippine government to ramp up digital government-to-person (G2P) payments, mainly by tapping other financial services providers like e-wallets, to speed up and ensure the efficient distribution of “ayuda” (cash assistance) during a crisis...
7 countries offer to solve Philippines’ power problems
7 countries offer to solve Philippines’ power problems
Philippine Daily Inquirer, March 6, 2022
Dempsey Reyes
Even before President Rodrigo Duterte signed Executive Order No. 164 adding nuclear energy in the country’s power source mix, several countries had already offered to help the Philippines find a way to reduce the cost of electricity...
PHL lenders’ exposure to Russia ‘minimal’
BusinessWorld, March 7, 2022
Luz Wendy T. Noble with Reuters
The Philippine financial system has minimal exposure to Russia through the trust department of some banks, a central bank official said...
DOE: PH ‘nuclear power cooperation’ with Russia to stay
Manila Bulletin, March 6, 2022
Myrna M. Velasco
Despite the war hostilities raging between Russia and Ukraine, the Department of Energy (DOE) has declared that the Philippines “nuclear power deal” with Russia’s Rosatom State Atomic Energy Corporation for the conduct of a feasibility study for the targeted installation of nuclear power facilities in the country still stands...
Research institute: South Korea offered to rehabilitate Bataan Nuclear Power Plant
CNN Philippines, March 6, 2022
CNN Philippines Staff
The Philippine government must consider South Korea’s offer to rehabilitate the Bataan Nuclear Power Plant (BNPP), which can boost the country’s power capacity...
EU to PH: Take steps to address human rights abuses, other key concerns to keep GSP+ perks
CNN Philippines, March 5, 2022
CNN Philippines Staff
The European Union has urged the Philippine government to address all key concerns in various areas as part of its duties as a beneficiary of the Generalized Scheme of Preferences (GSP+)...
IMF: Brace for economic damage
The Manila Times, March 7, 2022
Agence France-Presse
The IMF warned on Saturday (Sunday in Manila) that the already "serious" global economic impacts of the war in Ukraine would be "all the more devastating" should the conflict escalate...
DOE: PH ‘nuclear power cooperation’ with Russia to stay
Manila Bulletin, March 6, 2022
Myrna M. Velasco
Despite the war hostilities raging between Russia and Ukraine, the Department of Energy (DOE) has declared that the Philippines “nuclear power deal” with Russia’s Rosatom State Atomic Energy Corporation for the conduct of a feasibility study for the targeted installation of nuclear power facilities in the country still stands...
Ukraine fallout hits world’s poor most—IMF
Ukraine fallout hits world’s poor most—IMF
BusinessMirror, March 7, 2022
Cai Ordinario
The crisis in Ukraine will likely hit the poor the hardest as they spend a larger share of their income on food and fuel, according to the International Monetary Fund (IMF)...
Ukraine war tests China's 'no limits' bond with Russia
Ukraine war tests China's 'no limits' bond with Russia
The Manila Times, March 7, 2022
Agence France-Presse
Chinese President Xi Jinping and Russian counterpart Vladimir Putin toasted a friendship with "no limits" at a warm meeting in February, but just one month later, that bond is being tested by the war in Ukraine...
Ukrainian refugees top 1.5 million on Day 11 of Russian assault
Ukrainian refugees top 1.5 million on Day 11 of Russian assault
Philippine Daily Inquirer, March 7, 2022
Agence France-Presse, Reuters
The number of people fleeing Russia’s invasion of Ukraine has topped 1.5 million, making it Europe’s fastest-growing refugee crisis since World War II, the United Nations said on Sunday)...
Russia is tightening its grip on Ukraine nuclear plant, says U.N. watchdog
Russia is tightening its grip on Ukraine nuclear plant, says U.N. watchdog
Philippine Daily Inquirer, March 7, 2022
Reuters
Russian forces that seized Ukraine’s Zaporizhzhia nuclear power plant have now placed staff running the facility under their command and restricted communications with the outside world, the U.N. nuclear watchdog said on Sunday...
‘Russian war in world's 'breadbasket' threatens food supply
‘Russian war in world's 'breadbasket' threatens food supply
The Manila Times, March 7, 2022
Associated Press
The Russian tanks and missiles besieging Ukraine also are threatening the food supply and livelihoods of people in Europe, Africa and Asia who rely on the vast, fertile farmlands of the Black Sea region — known as the "breadbasket of the world"...
Ukraine-Russia conflict recovery in AsPac
Philippine Star, March 7, 2022
Louise Maureen Simeon
The continued conflict between Ukraine and Russia is threatening the sustained rebound of the manufacturing sector in the Philippines and in the whole of Asia- Pacific. Market intelligence firm IHS Markit and international think tank Oxford Economics said the purchasing managers’ index (PMI) across the region has survived the Omicron surge, but the outlook remained cautious as downside risks persist...
‘Stop fighting, Putin tells Ukraine, as anti-war protests grow
‘Stop fighting, Putin tells Ukraine, as anti-war protests grow
Philippine Daily Inquirer, March 7, 2022
Reuters
Persistent fighting blocked efforts to evacuate 200,000 people from the besieged Ukrainian city of Mariupol for a second day in a row on Sunday as Russian President Vladimir Putin vowed to press ahead with his offensive, which he said was going to plan, unless Kyiv surrendered...
Apply ‘low-tech,’ ‘no-tech’ solutions in learning–ADB
BusinessMirror, March 7, 2022
Cai Ordinario
Applying “low-tech and no-tech solutions,” could help address learning losses due to school lockdowns, according to experts from the Asian Development Bank (ADB)...
‘Not our war’: Gulf states resist pressure to raise oil output
‘Not our war’: Gulf states resist pressure to raise oil output
Philippine Daily Inquirer, March 6, 2022
Agence France-Presse
Russia’s invasion of Ukraine has sent energy prices surging, but the oil-rich Gulf monarchies have so far resisted Western pressure to raise output, prioritizing their own strategic and economic interests...
Putin says Western sanctions are akin to declaration of war
Putin says Western sanctions are akin to declaration of war
Philippine Daily Inquirer, March 6, 2022
Reuters
Russian President Vladimir Putin said Western sanctions were akin to war on Saturday as his forces pressed on with their assault on Ukraine, where planned civilian evacuations from two besieged cities were called off...
WHO: Elderly, unvaxxed with mild symptoms can take COVID pill
Philippine Daily Inquirer, March 6, 2022
Agence France-Presse and Tina G. Santos
The World Health Organization (WHO) has recommended an anti-COVID pill be taken by sufferers who have mild symptoms but are at high risk of hospitalization, such as older people or the unvaccinated...
Ukraine says 11,000 Russian troops killed in war
Ukraine says 11,000 Russian troops killed in war
Philippine Daily Inquirer, March 6, 2022
Reuters
More than 11,000 Russian troops have been killed since Moscow launched an invasion of Ukraine on Feb. 24, the Ukrainian armed forces’ general staff said on Sunday...
Ukrainian Railways ready to boost grain exports by train
Rappler, March 6, 2022
Reuters
Ukraine’s state-run railway operator is ready to organize agricultural exports by rail as a matter of urgency, it said on Sunday, March 6, after closure of the country’s Black Sea ports because of the military invasion by Russia...
War in Ukraine puts pressure on East European banks to prop up sinking currencies
Rappler, March 6, 2022
Reuters
Russia’s invasion of Ukraine is putting pressure on central banks along the European Union’s eastern flank to prop up their weakening currencies, forcing Czech and Polish rate-setters into market interventions and Hungary into prolonged rate hikes...
Pope Francis says Ukraine conflict is not a 'military operation but a war'
ABS-CBN News, March 6, 2022
Reuters
Pope Francis on Sunday rejected Russia's assertion that it is carrying out "a special military operation" in Ukraine, saying the country was being battered by war...
20,000 foreign volunteers in Ukraine to fight Russians —minister
GMA News, March 7, 2022
Some 20,000 international volunteers have traveled to Ukraine to join in the fight against invading Russian forces, a top Ukrainian official said Sunday...
Govt, medical association in talks for 4th vax blitz
Govt, medical association in talks for 4th vax blitz
The Manila Times, March 5, 2022
Red Mendoza
The government is now coordinating with the country's official medical organization to help them conduct the fourth run of the National Vaccination Days blitz, according to the special adviser of the government's coronavirus task force...
‘Public works ban should not sacrifice jobs’
Philippine Star, March 7, 2022
Paolo Romero
The 45-day public works ban that takes effect on March 25 – the start of the local electoral campaign period – should be implemented in a way that “will not affect jobs nor delay the completion of infrastructure projects in calamity areas,” Sen. Joel Villanueva said yesterday...
Daily tally, active cases continue to drop
Philippine Star, March 7, 2022
Mayen Jaymalin
Active COVID cases further went down to 48,793 as the daily tally of infections continued to drop, according to the Department of Health (DOH)...
DepEd forms anti-graft panels
DepEd forms anti-graft panels
Philippine Daily Inquirer, March 7, 2022
Jane Bautista
The Department of Education (DepEd) has ordered the establishment of anti-corruption committees (ACC) in its central, regional and schools division offices in an effort to develop a “culture of zero tolerance” against graft and corruption in the agency...
House Ad Hoc panel tackles fuel crisis impact
BusinessMirror, March 7, 2022
Jovee Marie De La Cruz and Butch Fernandez
The House of Representatives has created the Fuel Crisis Ad Hoc Committee that will discuss the economic impact of the fuel crisis in a special meeting on Monday...
Govt told: Avert job losses due to 45-day election ban
BusinessMirror, March 7, 2022
Butch Fernandez
Sen. Emmanuel Joel J. Villanueva voiced mounting concerns last Monday over the looming job losses ensuing from the effectivity of the public works ban for the duration of the upcoming national Election campaign...
DENR reviewing ‘Masungi’ deal vis-a-vis E-Nipas law
BusinessMirror, March 7, 2022
Jonathan L. Mayuga
The Department of Environment and Natural Resources (DENR) is scrutinizing the details of a 2017 memorandum of agreement (MOA) it signed with the Masungi Georeserve operators to ensure its consistency with the country’s law for protected areas...
Jeepney drivers press government to release fuel subsidy
Jeepney drivers press government to release fuel subsidy
Philippine Daily Inquirer, March 6, 2022
Dempsey Reyes
A group of jeepney drivers and operators wants the government to release immediately the much-anticipated fuel subsidy that it announced last week amid rising global oil prices following Russia’s invasion of Ukraine...
Oil, gas search extends beyond WPS — Cusi
Daily Tribune, March 7, 2022
Maria Romero
Department of Energy (DoE) Secretary Alfonso Cusi said the government has extended its oil and gas exploration efforts beyond the West Philippines to open up the untapped resources of the country...
Comelec bares debate details
Philippine Daily Inquirer, March 6, 2022
Marlon Ramos
The Commission on Elections (Comelec) bared on Saturday some of the details of the presidential and vice presidential debates it will be holding on March 19 and March 20 and April 3...
Ex-Duterte admin officials call for more subsidies, tax cuts amid high fuel prices
CNN Philippines, March 6, 2022
CNN Philippines Staff
Former Duterte administration officials running for a Senate seat call on the government to provide subsidies and implement tax cuts for sectors that will be affected by high fuel prices brought about by the Russia-Ukraine conflict...
DA: Fuel subsidy for farmers, fishers may be released in late March or April
CNN Philippines, March 6, 2022
CNN Philippines Staff
The fuel subsidy for farmers and fishers may be distributed by the last week of March or early April, the Department of Agriculture said on Sunday...
More Filipinos from Ukraine arrive in Manila as Russia intensifies invasion
ABS-CBN News, March 6, 2022
More Filipinos and their dependents from Ukraine arrived in Manila Sunday, the Department of Foreign Affairs said...
40% of Filipino adults say quality of life got worse – SWS
Rappler, March 6, 2022
About 4 in 10 or 40% of Filipino adults said their quality of life has become worse compared to a year ago, a Social Weather Stations (SWS) survey found...
Duterte nuclear shift seen as admission of failure to achieve energy security
BusinessWorld, March 6, 2022
Marielle C. Lucenio
The government’s decision to incorporate nuclear power into the energy mix points to the government’s failure to achieve energy security via building coal-fired plants and other power facilities running on fossil fuels, a sustainability think tank said...
Analysts decry unclear foreign policy direction
BusinessWorld, March 6, 2022
Alyssa Nicole O. Tan, Reporter and Jaspearl Emerald G. Tan
Presidential candidates lack a clear foreign policy direction and are unlikely to advance Philippine interests in case they get elected, political analysts said at the weekend...
Govt financing falls in 2021
Govt financing falls in 2021
The Manila Times, March 7, 2022
Mayvelin U. Caraballo
Last year, the national government incurred almost P2 trillion in gross borrowings, to data released by the Bureau of Treasury (BTr) showed over the weekend...
GIR more than adequate – Central Bank
GIR more than adequate – Central Bank
The Manila Times, March 7, 2022
Mayvelin U. Caraballo
The latest gross international reserves (GIR) figure reported by the Bangko Sentral ng Pilipinas as of February this year is a remarkable $108.4 billion, or over P5 trillion at current exchange rates...
IPO market unfazed by war; more companies push plans
Philippine Star, March 7, 2022
Iris Gonzales
Companies planning to list in the stock market are pushing through with their maiden offerings as soon as possible, unfazed by Russia’s war against Ukraine, which is now approaching its second week, and its potential negative impact on the market...
DOLE poll: Many of 2.4-M jobless in 2021 had resigned
BusinessMirror, March 7, 2022
Samuel P. Medenilla
Resignation was the top reason for unemployment last year, according to a survey conducted by the Department of Labor and Employment (DOLE)...
PIPPA lists ways to cut impact of oil price hike
BusinessMirror, March 7, 2022
Lenie Lectura
The Philippine Independent Power Producers Association (PIPPA) has recommended to the Department of Energy (DOE) solutions to help curb the impact of spiraling oil prices...
Solons: Excise tax halt still an option besides fuel aid
BusinessMirror, March 7, 2022
Jovee Marie De La Cruz
Lawmakers are keen to know for sure from the Executive the timeline for fuel subsidies for the transport and the agriculture and fisheries sectors, given the rapid rise in oil prices now putting at risk hopes of quick recovery from the pandemic, a leader of the House of Representatives said on Sunday...
PSEi to track Russia-Ukraine tension, Covid situation
The Manila Times, March 7, 2022
Faye Almazan
Investors are expected to continue monitoring the crisis in Ukraine along with developments in the local Covid-19 pandemic situation this trading week...
P15-B Manila port expansion starts
The Manila Times, March 7, 2022
Ben Gines, Jr.
International Container Terminal Services Inc. (ICTSI) recently rolled out the expansion of its flagship Manila International Container Terminal (MICT) with the ongoing development of another berth (Berth 8)...
Inflation may go over 4% if fuel pressure continues
Manila Standard, March 7, 2022
Julito G. Rada
Inflation may breach 4 percent this year if oil prices continue to climb amid the uncertainty brought about by Russia’s war in Ukraine, the Bank of the Philippine Islands (BPI) said over the weekend...
Supermarket industry warns of rising prices due to higher materials costs
BusinessWorld, March 6, 2022
Revin Mikhael D. Ochave
The supermarket industry said prices of many goods started rising this month in response to higher fuel prices, and advised consumers to explore substitutes for their usual favorite brands...
Delayed impact expected from economic liberalization bills
BusinessWorld, March 6, 2022
Revin Mikhael D. Ochave
The benefits of economic reforms such as amendments to the Foreign Investment Act, Retail Trade Liberalization Act, and Public Service Act will not be immediately felt, an economist said...
Common station for 4 railway lines nears completion, likely to open to passengers by July this year, says DOTr
Manila Standard, March 6, 2022
Darwin G. Amojelar
The Department of Transportation said over the weekend said it expects the common station for the four railway systems in Metro Manila to start operations by July this year...
PH seen keeping investment grade despite rising debt
Manila Standard, March 6, 2022
Julito G. Rada
Bangko Sentral ng Pilipinas Governor Benjamin Diokno expressed optimism the Philippines will maintain its investment-grade scores from Fitch Ratings, Moody’s Investors Service and S&P Global Rating as the country’s debt level remains manageable...
ICTSI spending P15b to build 8th berth at Manila Container Terminal
Manila Standard, March 6, 2022
Darwin G. Amojelar
International Container Terminal Services Inc. said over the weekend it is spending P15 billion to expand the capacity of Manila International Container Terminal with the development of another berth—Berth 8...
Duterte economic team to discuss possible relief amid high oil prices
Philippine Daily Inquirer, March 5, 2022
Ben O. de Vera
President Rodrigo Duterte’s economic managers will meet on Monday to take a closer look at the local impact of the Ukraine-Russia war, especially on food and oil prices...
DA taps local governments for food security
Philippine Daily Inquirer, March 5, 2022
Jordeene B. Lagare
The Department of Agriculture (DA) is enlisting the help of local governments to enhance food security as Russia’s invasion of Ukraine, now on its second week, is threatening food supply here and abroad...
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