March 9, 2022
PHL moves to cushion oil shock impact
BusinessWorld, March 9, 2022
Jenina P. Ibañez
Economic managers approved the implementation of several measures to cushion the impact of the Russia-Ukraine crisis on the Philippine economy, such as temporarily allowing more imports of rice, pork and fish, increasing coal supply, and raising fuel subsidies for public transport drivers...
GIR rises to 2-month high
The Manila Times, March 9, 2022
Mayvelin U. Caraballo
The country's gross international reserves (GIR) reached a two-month high of $107.98 billion at the end of February this year, owing to increased gold prices and the net income of the Bangko Sentral ng Pilipinas (BSP) from its overseas investments...
Transport, agri get P6B subsidy
The Manila Times, March 9, 2022
Ben Gines, Jr.
The transportation and agriculture sectors will get the bulk of subsidies approved on Tuesday by the government, pegged at P6.1 billion, to help them cope with continuing increases in oil prices, according to the Department of Energy (DoE)...
Number of OFWs fell nearly a fifth to 1.8M in 2020
BusinessWorld, March 9, 2022
Abigail Marie P. Yraola
The number of registered overseas Filipino workers (OFW) declined by nearly a fifth year on year in 2020 amid the coronavirus disease 2019 (COVID-19) pandemic, data from the Philippine Statistics Authority (PSA) showed...
Gov’t tightens belt, slows down on infra spending
Philippine Daily Inquirer, March 9, 2022
Ben O. de Vera
As the prolonged COVID-19 pandemic has slashed available public funds, the National Economic and Development Authority (Neda) Board has ordered agencies to prioritize the most productive infrastructure projects...
Gov’t scrambles amid oil crisis
Manila Standard, March 9, 2022
Vito Barcelo
President Rodrigo Duterte is considering calling a special session of Congress to discuss a possible state of economic emergency and other recommendations of his Cabinet to mitigate the impact of the Russian invasion of Ukraine on the Philippine economy...
SEC issues guidelines on disqualification, removal of directors
The Manila Times, March 9, 2022
Kelvin Lester K. Lee
The Securities and Exchange Commission (SEC) finalized and released SEC Memorandum Circular 4, Series of 2022, which pertains to the disqualification of directors, trustees and officers of corporations and guidelines on the procedure for their removal in accordance with Section 26 of Republic Act 11232, or the "Revised Corporation Code of the Philippines" (RCC)...
LTFRB eyes P1 provisional minimum fare hike for PUJs
BusinessMirror, March 8, 2022
Lorenz S. Marasigan
The Land Transportation Franchising and Regulatory Board (LTFRB) plans to approve a P1 provisional adjustment of the minimum fare for public utility jeepneys (PUJ) amid the continuous increase of the price of fuel...
Bill filed to lure more private sector participation in agri enterprise development
BusinessWorld, March 8, 2022
Alyssa Nicole O. Tan
Senator Francis “Kiko” N. Pangilinan, a vice-presidential candidate, on Monday filed a bill that seeks to increase incentives to private businesses participating in enterprise development programs for farmers and fisherfolk.
Lacson says amended Foreign Investments Act has safeguards for micro, small entrepreneurs
BusinessWorld, March 8, 2022
Alyssa Nicole O. Tan
Presidential aspirant and Senator Panfilo M. Lacson, Sr. on Tuesday assured micro and small enterprises that there are provisions in the new law that relaxes restrictions on foreign investments to protect their sector...
IATF: Entry to commercial establishments does not require anti-Covid boosters
BusinessMirror, March 8, 2022
Samuel P. Medenilla
People who do not yet have booster shots against Covid-19 shall not be barred from entering commercial establishments, the government said Tuesday...
Guidelines on subsidy distribution to farmers, fishers issued
BusinessMirror, March 8, 2022
Jasper Y. Arcalas
Eligible Filipino corn farmers and fisherfolk could get a maximum fuel discount of P3,000 under the government’s P500-million fuel subsidy program for the agriculture sector, guidelines released by the Department of Agriculture (DA) showed...
FIRB denies PEZA request to lift NCR ecozone moratorium
Manila Bulletin, March 8, 2022
Bernie Cahiles-Magkilat
In a unanimous decision, the Fiscal and Incentives Review Board (FIRB) has denied the request of the Philippine Economic Zone Authority (PEZA) to lift the moratorium on the declaration of economic zones in Metro Manila...
PH to donate COVID jabs to vaccine-short nations
Philippine Daily Inquirer, March 9, 2022
Dexter Cabalza and Leila B. Salaverria
From being a recipient, the Philippines is considering donating COVID-19 vaccines to other countries in need of these doses...
Israeli firms eye investments in PHL infrastructure, water sectors
BusinessWorld, March 8, 2022
Alyssa Nicole O. Tan and Revin Mikhael D. Ochave, Reporters
Israeli firms are interested in investing in the infrastructure, agriculture and water, and business process outsourcing (BPO) sectors in the Philippines...
Del Rosario warns of losing West Philippine Sea
Philippine Daily Inquirer, March 9, 2022
Tina G. Santos
Former Foreign Secretary Albert del Rosario on Tuesday called on the government to take concrete actions in joining the international community in condemning Russia’s illegal invasion of Ukraine...
Filipina inventors, force to reckon with
Daily Tribune, March 9, 2022
Raffy Ayeng
The Philippines was recently hailed by the World Intellectual Property Organization (WIPO) as second in the world with the biggest share of women inventors that applied with the Patent Cooperation Treaty (PCT), the international route for patent protection...
Beijing presses Phl on Recto Bank deal
Daily Tribune, March 9, 2022
MJ Blancaflor
President Rodrigo Duterte said the Philippines should honor its commitment with China to pursue a joint exploration of the resource-rich Recto Bank to avoid “potential trouble.”...
French surveillance frigate arrives in PH
The Manila Times, March 8, 2022
Francis Earl Cueto
The French surveillance frigate, Vendémiaire (F743), arrived in the country on Tuesday as part of the French Navy's deployment in Asia to cultivate regional stability, international rule of law, and partnerships among Asian countries...
France in talks with PH for submarine deal, joint patrols in West PH Sea
CNN Philippines, March 8, 2022
Tristan Nodalo
France is ready to extend assistance to the Philippines in modernizing its armed forces, including the possibility of supplying assets for a Philippine "submarine force."...
DFA: No more passport slots for recruiters
CNN Philippines, March 8, 2022
CNN Philippines Staff
The Department of Foreign Affairs (DFA) will no longer allocate passport appointment slots to recruitment agencies, DFA Secretary Teodoro Locsin, Jr. announced on Tuesday...
Thailand to lead Apec task force on restoring travel between members
Philippine Daily Inquirer, March 8, 2022
The Nation/Asia News Network
Thailand will head the Asia-Pacific Economic Cooperation (Apec) Safe Passage Taskforce to seek solutions on restoring normal travel between the 21 member countries...
ASEAN urged to explore rice-based food system
Philippine Star, March 9, 2022
Catherine Talavera
Agriculture Secretary William Dar is urging ASEAN countries to look at rice-based food systems in the region to help mitigate scarcity in wheat and corn amid the Ukraine-Russia conflict...
Asia markets dip, oil prices soar anew
The Manila Times, March 9, 2022
Agence France-Presse
Asian markets fell further Tuesday, oil prices leaped again and nickel surged to above $100,000 as investors try to assess the impact of the Ukraine war on the world economy...
Russia default on debt is 'imminent' —Fitch
GMA News, March 9, 2022
Ratings agency Fitch on Tuesday again downgraded Russia's sovereign debt rating farther into junk territory from "B" to "C," saying the decision reflects the view that a default is "imminent"...
World Bank OKs extra $489-M package for Ukraine
The Manila Times, March 9, 2022
Agence France-Presse
The World Bank on Monday (Tuesday in Manila) approved an additional $489-million package to support Ukraine, to be made available immediately and dubbed "Financing of Recovery from Economic Emergency in Ukraine," or "FREE Ukraine."...
End crew change crisis – UN
The Manila Times, March 9, 2022
Genivi Verdejo
Four United Nations organizations called for continued global collaboration to address the crew change crisis that left more than 400,000 seafarers stranded at sea during the Covid-19 pandemic...
US, allies fail to get China to back UN text
The Manila Times, March 9, 2022
Agence France-Presse
The United States and European allies on the United Nations Security Council failed on Monday (Tuesday in Manila) to convince China and Russia to back a text noting North Korea's "violations" of resolutions on missile technology...
More room for sanctions vs Moscow – experts
The Manila Times, March 9, 2022
Agence France-Presse
There is still "plenty of room" for punitive measures against Russia after "unprecedented" Western sanctions in response to its invasion of Ukraine, experts told the United Kingdom's parliament on Monday (Tuesday in Manila)...
Biden bans Russia oil imports to US, warns gasoline prices will rise further
Rappler, March 9, 2022
Reuters
US President Joe Biden on Tuesday, March 8, banned Russian oil and other energy imports in retaliation for the invasion of Ukraine, underscoring strong bipartisan support for a move that he acknowledged would drive up US energy prices...
Russia on ‘recruiting mission,’ calls on Syrians to be fighters
Manila Standard, March 9, 2022
Agence France-Presse
Russia is recruiting Syrians and other foreign fighters as it ramps up its assault on Ukraine, the Pentagon said Monday...
UK to phase out Russian oil imports by end of 2022
Rappler, March 9, 2022
Reuters
Britain will phase out imports of Russian oil and oil products by the end of 2022, Prime Minister Boris Johnson said on Tuesday, March 8, joining other nations including the United States in reducing their energy dependency on Russia...
UN: More than 2 million flee war in Ukraine
Philippine Daily Inquirer, March 8, 2022
Agence France-Presse
More than two million people have now fled Ukraine since Russia launched its full-scale invasion on February 24, according to the latest data from the United Nations (UN) on Tuesday...
Civilian deaths in Ukraine now 474, with 861 injured – UN
Philippine Daily Inquirer, March 8, 2022
Reuters
The United Nations human rights office said on Tuesday that it had verified 1,335 civilian casualties in Ukraine, including 474 killed and 861 injured, since Russia’s invasion began on Feb. 24...
Shell says it will stop buying Russian oil, natural gas
The Manila Times, March 8, 2022
Associated Press
Energy giant Shell said Tuesday that it will stop buying Russian oil and natural gas and shut down its service stations, aviation fuels and other operations in the country amid international pressure for companies to sever ties over the invasion of Ukraine...
China hopes to start exploratory work on base on the moon by 2024, says leading lunar scientist
ABS-CBN News, March 9, 2022
South China Morning Post
A lead scientist in China's lunar program has unveiled details of plans for the county's first base on the moon, saying probes will start surveying the south pole for potentially vital resources, such as water...
Hopes hinge on Ukraine escape routes as war rages
Philippine Star, March 8, 2022
Dave Clark and Dmitry Zaks, Agence France-Presse
Russia said Monday it would open humanitarian corridors for civilians to flee pummelled Ukrainian cities, but Kyiv accused Moscow of making it impossible for innocent people to escape...
Pressure to raise jeep fares grows
BusinessWorld, March 9, 2022
Arjay L. Balinbin
The Land Transportation Franchising and Regulatory Board (LTFRB) is facing pressure to raise the minimum jeepney fare as fuel prices are expected to continue to soar...
Alert Level 1 can wait – Duque
The Manila Times, March 9, 2022
Red Mendoza
Health Secretary Francisco Duque III is opposed to moving the entire country to Alert Level 1 until it is sufficiently vaccinated to prevent a resurgence of coronavirus disease 2019 (Covid-19) cases...
Supreme Court issues TRO vs Comelec’s ‘Oplan Baklas’
Philippine Daily Inquirer, March 9, 2022
Dona Z. Pazzibugan
The Supreme Court (SC) issued a temporary restraining order (TRO) against the implementation of the Commission on Elections' (Comelec) "Oplan Baklas" or the removal of campaign posters on private property...
Jabs get going in workplaces
The Manila Times, March 9, 2022
Red Mendoza
Call center agent Claire Bangug said she had been itching to get her booster dose in her local government unit (LGU), but she was not able to receive her slot until a booster drive in her workplace enabled her to finally get that shot...
Go eyes super health centers in provinces
The Manila Times, March 9, 2022
Javier Joe Ismael
Sen. Christopher Lawrence "Bong" Go pressed for the establishment of super health centers across the country to improve access to health services...
Seniors better protected with 4th COVID-19 vaccine shot – DOH
Philippine Daily Inquirer, March 9, 2022
Zacarian Sarao
Seniors and individuals who are moderately to severely immunocompromised will get better protection against COVID-19 if they get a second booster shot — that is, a fourth vaccination shot, according to a Department of Health (DOH) statement on Tuesday...
Abuse victims can ask for help via 911
Philippine Daily Inquirer, March 9, 2022
Jane Bautista
Victims of gender-based violence (GBV) and violence against women (VAW) can ask for help through the Emergency 911 National Hotline, an official of the Philippine Commission on Women (PCW) announced on Tuesday, International Women’s Day...
COVID-19 hospitalizations in Metro Manila 'plateauing' — DOH
Philippine Star, March 9, 2022
Gaea Katreena Cabico
COVID-19 hospitalization rates in Metro Manila were plateauing, a health official said Tuesday, as the capital region entered the "new normal"...
Rody mulling special session
Daily Tribune, March 9, 2022
MJ Blancaflor, Maria Romero, Sundy Locus and Raadee Sausa
President Rodrigo Duterte may call on Congress to hold a special session to approve measures intended to cushion the impact of spiraling oil prices aggravated by Russia’s invasion of Ukraine...
SWS: 45% of Pinoys optimistic about year ahead
Philippine Daily Inquirer, March 9, 2022
Arianne Suarez
More Filipinos are now optimistic about the year ahead — the highest optimism recorded since the global pandemic began — results of the latest Social Weather Stations (SWS) survey show...
Private, public clinics tapped for jabbing too
Philippine Daily Inquirer, March 9, 2022
Willie Casas
The government plans to expand vaccination sites in the Philippines to also include public and private clinics hoping to get more Filipinos vaccinated against COVID-19, Health Secretary Francisco Duque III said Tuesday...
LTFRB chief asked to make good on promise to open all bus routes
Manila Standard, March 9, 2022
Maricel Cruz
A congressional leader asked the Land Transportation Franchising and Regulatory Board Tuesday to issue an official announcement and guidelines for its pronouncement that public utility buses would now be allowed to ply their routes without COVID-19 restrictions...
Energy dep’t floats possible suspension of Biofuels Law
BusinessWorld, March 8, 2022
Marielle C. Lucenio
The government could suspend the Biofuels Law to cushion the public from soaring fuel prices, the Energy department said, following proposals made to the Cabinet to raise the fuel subsidy for public transport drivers and to suspend the 7% tariff on thermal coal...
LTFRB reopens interregional provincial bus routes
Philippine Daily Inquirer, March 8, 2022
Zacarian Sarao
The Land Transportation Franchising and Regulatory Board (LTFRB) on Tuesday announced the resumption of operations of Provincial Public Utility Buses (PUBs) on Inter-regional Routes...
Plan to declare emergency still under study — Palace
BusinessWorld, March 8, 2022
Kyle Aristophere T. Atienza, Alyssa Nicole O. Tan
The Palace is currently studying a proposal asking President Rodrigo R. Duterte to declare a state of economic emergency due to rising oil prices...
COVID-19 jabs may now be administered in doctors’ clinics
Philippine Daily Inquirer, March 8, 2022
Daphne Galvez
Individuals may now get their COVID-19 vaccines from the clinic of public and private doctors, and still for free, for the fourth national vaccination day to be launched this month...
LTFRB: Minimum fare stays at P9 for now; bid to increase it to P10 up for decision
Philippine Daily Inquirer, March 8, 2022
Zacarian Sarao
The Land Transportation Franchising and Regulatory Board (LTFRB) on Tuesday said that the minimum fare for public utility jeepneys (PUJs) would remain unchanged at P9 for now despite the latest fuel prices increase amid swelling costs in the world market...
Owwa urged to ‘immediately’
settle P1.5B in arrears to hotels
BusinessMirror, March 8, 2022
Ma. Stella F. Arnaldo
Operations of quarantine hotels are getting affected by the slow payment by the Overseas Workers Welfare Administration (Owwa) for quarantine stays of Filipino overseas workers...
Group issues ‘green scorecard’ to gauge national poll bets’ positions on environmental concerns
BusinessMirror, March 8, 2022
Jonathan L. Mayuga
Environmental and Human rights groups under the Green Thumb Coalition (GTC) launched on Monday the Green Scorecard to determine the positions and commitment of selected electoral aspirants on various environmental concerns...
Gov’t crafts measures to blunt impact of Ukraine-Russia war
Manila Bulletin, March 8, 2022
Chino S. Leyco
The government’s top economic managers are crafting measures to cushion the impact of Ukraine-Russia war on the domestic economy, particularly on the prices of basic goods and commodities...
DFA enforces mandatory evacuation of Filipinos in Ukraine; crisis Alert Level 4 raised
Manila Bulletin, March 8, 2022
Betheena Unite
Mandatory evacuation of all Filipinos in Ukraine has been enforced by the Department of Foreign Affairs (DFA) due to the “rapidly deteriorating security situation” in the war-stricken country...
PH banks' bad loans reach P461B
The Manila Times, March 9, 2022
Mayvelin U. Caraballo
The amount of bad loans in the Philippine banking sector reached P461 billion at the end of January this year, data released by the Bangko Sentral ng Pilipinas (BSP) showed on Tuesday...
Peso breaches 52 vs dollar, first time in 2.5 years
Philippine Daily Inquirer, March 9, 2022
Ronnel W. Domingo
The Philippine peso breached the 52-per-dollar mark on Monday for the first time in almost two and a half years, with expectations that it will get even weaker over the next few months due to the worsening Russia-Ukraine conflict...
'Govt well-positioned to meet expenditures'
The Manila Times, March 9, 2022
Mayvelin U. Caraballo
The Department of Finance reassured the public that the national government's cash flows are sufficient to meet its spending obligations...
Consumer goods log slower growth in PH
The Manila Times, March 9, 2022
Anna Leah E. Gonzales
The recovery of the country's fast-moving consumer goods (FMCG) market is expected to be slower compared to that of other countries, a report released by data, insights and consulting company Kantar said...
Banks’ NPL ratio climbs in Jan. on tighter mobility restrictions
BusinessWorld, March 9, 2022
Luz Wendy T. Noble
The nonperforming loan ratio (NPL) of the banking industry increased in January after five straight months of decline, reflecting the impact of tighter restrictions that month...
DOF expects higher borrowing costs
Philippine Star, March 9, 2022
Elijah Felice Rosales
The Department of Finance (DOF) expects borrowing costs to rise amid the escalating conflict between Russia and Ukraine...
Agri goods’ falling prices alarm solons
Philippine Daily Inquirer, March 9, 2022
Julie M. Aurelio
Lawmakers have called for an investigation of the massive drop in the prices of agricultural produce, even if farmers incurred higher input costs due to rising fuel prices...
LGU curbs could tilt table eggs, chicken meat supply balance
BusinessMirror, March 8, 2022
Jasper Y. Arcalas
Filipino consumers in Luzon and Visayas may face spikes in prices of table eggs and chicken meat with the imposition by certain local government units (LGUs) of inter-island movement restrictions on poultry products due to bird flu concerns...
Cusi: Gasoline prices may reach P100 per liter depending on world market
Philippine Daily Inquirer, March 8, 2022
Cathrine Gonzales
Prices of gasoline may reach P100 per liter depending on the increase of oil prices in the world market, Energy Secretary Alfonso Cusi said Tuesday...
Situation ‘fluid,’ growth goals stay for now
BusinessMirror, March 8, 2022
Cai Ordinario
The national government intends to keep its economic growth targets for now despite the surge in commodity prices, according to the National Economic and Development Authority (Neda)...
Gov’t sees excess revenues as source of more fuel subsidies
Philippine Daily Inquirer, March 8, 2022
Ben O. de Vera
The government will tap excess revenues for the additional P2.5 billion in fuel subsidies that the economic team proposed to President Rodrigo Duterte be given away as relief amid a tsunami of oil prices...
Dominguez: Retail treasury bonds save the day for PH borrowings
Philippine Daily Inquirer, March 8, 2022
Ben O. de Vera
Finance Secretary Carlos Dominguez III has assured that the government can fund its budgetary requirements despite more expensive borrowing rates amid uncertainties wrought by the Ukraine-Russia war...
DOE: Fuel unbundling, strategic oil reserve plan eyed to cushion impact of price hikes
CNN Philippines, March 8, 2022
CNN Philippines Staff
Apart from additional subsidy, the Department of Energy (DOE) is looking at measures that can be taken amid non-stop fuel price hikes, including a call to amend the Oil Deregulation Law and a review of the country's capability to have its own oil reserve...
PSEi plunges below 7,000 on uncertainties over Ukraine-Russia war
CNN Philippines, March 8, 2022
Pilar Manuel
Local shares dove below 7,000 again on Tuesday after over three months as investors turned bearish amid uncertainties surrounding the war between Ukraine and Russia...