May 20, 2022
Philippines rises in elite quality rankings
Source BusinessWorld
BSP hikes rates to 2.25% first time in 3 years
Philippine Star, May 20, 2022
Lawrence Agcaoili
As widely expected, the Bangko Sentral ng Pilipinas (BSP) delivered its first rate hike in more than three years by raising policy rates by 25 basis points, bringing the benchmark rate to 2.25 percent from an all-time low of two percent...
DOH: Another COVID surge possible
Manila Standard, May 20, 2022
Willie Casas
A senior Department of Health official warned Thursday of a possibility of another COVID-19 surge if a new immune-escaping variant of the coronavirus entered the country and the immunity of the vaccinated people waned...
Shares struggled prior to BSP’s rate hike move
Philippine Daily Inquirer, May 20, 2022
The benchmark Philippine Stock Exchange Index (PSEi) pulled back on Thursday as investors stayed on the sidelines ahead of the Bangko Sentral ng Pilipinas’ (BSP) decision to hike interest rates for the first time since 2018 to control surging consumer prices...
Scrap 12% VAT on power rates, incoming Marcos admin asked
Philippine Daily Inquirer, May 20, 2022
Jordeene B. Lagare
Energy Regulatory Commission (ERC) Chair Agnes Devanadera on Thursday flagged the double taxation issue on electricity to the incoming administration, hoping to bring down the high power rates currently being paid by end-users...
Credit raters awaiting incoming administration’s fiscal consolidation plan
BusinessWorld, May 20, 2022
Luz Wendy T. Noble, Reporter and Tobias Jared Tomas
Credit rating agencies will keep a close eye on how the incoming Marcos administration will manage the country’s mounting debt in assessing the Philippines’ sovereign rating...
Govt to pay BSP P300 billion
The Manila Times, May 20, 2022
Philippine News Agency
The government will pay in advance the P300-billion bridge financing extended to it by the Bangko Sentral ng Pilipinas (BSP) in January 2022...
Food output recovery bleak
Manila Standard, May 20, 2022
Othel V. CamposandMaricel Cruz
Food production recovery for the Philippines was not within sight, at least for the next eight years, due to challenges in the local agriculture sector, the country’s biggest food group said...
Ople eyes amendment to existing migration law
Philippine Star, May 20, 2022
Mayen Jaymalin
If ever she accepts the offer to head the newly created Department of Migrant Workers (DMW), overseas Filipino workers (OFWs) advocate Susan Ople is looking at amending existing migration laws...
RTL repeal risks farmers’ productivity, inflation
Philippine Star, May 20, 2022
Louise Maureen Simeon
Any move to suspend or repeal the Rice Tariffication Law (RTL) is risking the chance of farmers to improve their productivity and for inflation to remain manageable as consumers enjoy cheap rice prices, according to Socioeconomic Planning Secretary Karl Chua...
SEC proposes rules for PERA investment products
BusinessWorld, May 20, 2022
Luisa Maria Jacinta C. Jocson
The Securities and Exchange Commission (SEC) proposed rules for the qualification and eligibility of personal equity and retirement account (PERA) investment products...
BSP proposes guidelines for sustainable investing
BusinessWorld, May 20, 2022
Luz Wendy T. Noble
The Bangko Sentral ng Pilipinas (BSP) is proposing guidelines for banks’ integration of sustainability principles in their investment activities...
Foreign chambers press Congress to ratify Transportation Safety Board legislation
BusinessWorld, May 19, 2022
Revin Mikhael D. Ochave
The Joint Foreign Chambers (JFC) pressed Congress to ratify the bill creating the Philippine Transportation Safety Board (PTSB), calling it an overdue piece of legislation that has been delayed for decades...
SEC urges disclosure of beneficial ownership
The Manila Times, May 20, 2022
Faye Almazan
The Securities and Exchange Commission (SEC) is advising corporations to disclose their beneficial ownership to prevent misuse of SEC-registered corporations' illegal activities...
World remains unprepared to face new pandemics — panel
Philippine Star, May 19, 2022
Nina Larson
Global reform efforts to better ward off new pandemic threats have been slow and fragmented, leaving the world as unprepared as when COVID-19 first surfaced, a report warned Wednesday...
Money for Ukraine tops G7 agenda; inflation, food a concern
Rappler, May 19, 2022
Reuters
Group of Seven financial leaders are likely to agree on Thursday and Friday, May 19 and 20, to help Ukraine pay its bills in coming months, but surging inflation, climate change, supply chains and the impending food crisis are also on the agenda...
Why monkeypox cases are spreading in Europe, US
Rappler, May 19, 2022
Reuters
A handful of cases of monkeypox have now been reported or are suspected in Britain, Portugal, Spain and the United States...
Bank of Japan’s dovish isolation draws public heat ahead of leadership change
Rappler, May 19, 2022
Reuters
A rapid decline in the yen and market distortions caused by current monetary settings have raised the political heat on the Bank of Japan (BOJ) as it becomes increasingly isolated in a world of hawkish-leaning central banks...
Italy, Sweden report first case of monkeypox
ABS-CBN News, May 20, 2022
Agence France-Presse
Italy on Thursday reported its first case of monkeypox, joining a number of other European and North American nations in detecting the disease endemic in parts of Africa...
Biden welcomes Sweden, Finland leaders in push for NATO bid
ABS-CBN News, May 19, 2022
Agence France-Presse
US President Joe Biden on Thursday welcomed the leaders of Finland and Sweden in a strong show of support for their bids to join NATO in the face of Russia's invasion of Ukraine...
US destroyer to be named after only Filipino in US Navy awarded the Medal of Honor
GMA News, May 20, 2022
An Arleigh Burke-class guided-missile destroyer will be named after a Filipino who risked his life when he rescued his shipmates during a boiler explosion in onboard the USS San Diego in 1915, the Secretary of the Navy Carlos Del Toro announced...
Asian markets plunge after Wall Stereet battering
Philippine Daily Inquirer, May 19, 2022
Agence France-Presse
Asian markets posted big early losses Thursday, after Wall Street suffered one of its worst batterings in two years in the previous session...
Singapore president congratulates Marcos, invites him for state visit
CNN Philippines, May 19, 2022
Singapore President Halimah Yacob has congratulated former senator Bongbong Marcos Jr. ahead of his expected win in the presidential elections...
Central banks’ hopes for supply chain miracle may be dashed by China, Ukraine
BusinessWorld, May 20, 2022
Reuters
Global central banks hoping that high inflation would ease through improving global supply chains saw little relief through April as new coronavirus lockdowns in China and the war in Ukraine lengthened delivery times and drove costs higher, new analyses from the New York Federal Reserve and others indicate...
Cisco study finds 92% in Philippines prefer hybrid work arrangements
BusinessWorld, May 20, 2022
Arjay L. Balinbin
Technology company Cisco Systems, Inc. said its research has indicated a 92% preference for hybrid work in the Philippines, saying that technology has established itself as an enabler of alternative work configurations, though it called for such arrangements to be supported by “end-to-end security.”...
PH, NZ military hold training talks
Philippine Daily Inquirer, May 20, 2022
Frances Mangosing
The armies of the Philippines and New Zealand are seeking to boost ties through bilateral engagements...
PH slides to 4th in medal standing
Manila Standard, May 20, 2022
Reira U. Mallari
Locked in a bitter fight for third place with Indonesia and Singapore, the Philippines managed just two golds courtesy of bowling and judo in yet another uneventful day for the country in the 31st Southeast Asian Games here on Thursday...
PH high on list of displacements due to disasters
Manila Standard, May 20, 2022
AFP
The Philippines had one of the highest numbers of internal displacements due to natural disasters in 2021, with Typhoon Odette resulting in the largest number of disaster displacements of the year worldwide, according to a joint report by the Internal Displacement Monitoring Center (IDMC) and the Norwegian Refugee Council (NRC)...
ADB voucher plan to ease food insecurity covers PHL
BusinessMirror May 19, 2022
Cai Ordinario
The Asian Development Bank (ADB) is developing a food voucher program in the Philippines as part of global initiatives to combat food insecurity heightened by the war in Eastern Europe...
Palace on CHR drug war report: Rehashed issues
Philippine Star, May 20, 2022
Alexis Romero
Malacañang yesterday described as “rehash of old issues” the Commission on Human Rights (CHR)’s latest report on President Duterte’s drug war even as it claimed that the outgoing administration would be leaving behind “a legacy of a safe and secure Philippines”...
DOH expediting P1 billion COVID-19 benefits for HCWs
Philippine Star, May 20, 2022
Sheila Crisostomo
The Department of Health (DOH) assured the public yesterday that it is working to expedite the payment of P1 billion COVID-19 sickness and death compensation for eligible health care workers and support staff...
Valenzuela, San Juan roll out second boosters
Philippine Star, May 20, 2022
Ghio Ong
Starting today, senior citizens and healthcare workers in Valenzuela City may avail themselves of a second booster dose of COVID-19 vaccines amid the threat posed by the Omicron subvariant BA 2.12.1...
CHR left with no commissioner after terms ended on May 5, 2022
GMA News, May 20, 2022
The Commission on Human Rights has been left with no commissioner after he terms of its commissioners all expired on May 5...
Duterte names 2 new CA justices
Philippine Daily Inquirer, May 19, 2022
Daphne Galvez
President Rodrigo Duterte has named two new Associate Justices of the Court of Appeals (CA), Malacañang confirmed on Thursday...
Omicron BA.2.12.1 in PH: What you need to know
Philippine Daily Inquirer, May 19, 2022
Kurt Dela Pena
Less than three months since the Philippines relaxed its restrictions to Alert Level 1, the Department of Health (DOH) confirmed the local transmission of BA.2.12.1, a more contagious version of Omicron, a variant of SARS-CoV-2, the virus that causes COVID-19...
PH logs 195 new COVID-19 infections — DOH
Philippine Daily Inquirer, May 20, 2022
Zacarian Sarao
An additional 195 new infections of COVID-19 were added to the country’s total caseload on Thursday, with active cases down further to 2,139, as shown in the Department of Health (DOH) COVID-19 tracker...
Comelec hopes to proclaim winning party-list groups on May 25
Philippine Daily Inquirer, May 19, 2022
Daniza Fernandez
The Commission on Elections (Comelec) is hoping to hold the proclamation of the winning party-list groups on May 25, acting poll body spokesperson John Rex Laudiangco said Thursday...
SC orders Marcos, Comelec, Congress to comment on plea seeking to void Bongbong’s candidacy
CNN Philippines, May 19, 2022
The Supreme Court (SC) has ordered Ferdinand “Bongbong” Marcos Jr., the Commission on Elections (Comelec), and Congress to comment on the elevated petition challenging the presumptive president’s certificate of candidacy (COC)...
Incoming House members eye barangay elections postponement to save funds for COVID response
BusinessWorld, May 19, 2022
Kyle Aristophere T. Atienza
Leyte Rep. Martin G. Romualdez, who has been reelected and is poised to assume the House speakership in the next Congress, said his colleagues are looking at proposals to postpone the barangay elections in December to save funds that could be used for the country’s pandemic response...
Duterte’s ‘drug war’ encouraged impunity, failed to protect rights – CHR report
Philippine Daily Inquirer, May 19, 2022
Zacarian Sarao
The Duterte administration’s brutal campaign against illegal drugs has “encouraged a culture of impunity” as it failed to respect and protect the rights of Filipinos, the Commission on Human Rights (CHR) said.,,
Comelec task force endorses report of fishy bank withdrawals to AMLC
Philippine Daily Inquirer, May 19, 2022
Daniza Fernandez
The Commission on Elections’ (Comelec) task force against vote-buying has endorsed to the Anti-Money Laundering Council (AMLC) a report about suspicious bank withdrawals during the election period...
Supreme Court fails to block canvassing
The Manila Times, May 19, 2022
Jomar Canlas and Bernadette E. Tamayo
The Supreme Court on Thursday refused to issue a ruling on a petition questioning the decision of the Commission on Elections (Comelec) to dismiss a case to cancel the certificate of canvass (COC) of President-elect Ferdinand "Bongbong" Marcos Jr...
National Design Policy to be finalized this year
The Manila Times, May 20, 2022
Anna Leah E. Gonzales
The Philippines' first National Design Policy is expected to be completed by the end of this year, the Design Center of the Philippines said on Thursday...
ESGR integration in businesses pushed
The Manila Times, May 20, 2022
Anna Leah E. Gonzales
The National Resilience Council has provided a set of recommendations on how to integrate environmental, social, governance and resilience (ESGR) in the way to do business...
Duterte urges PHLPost to continue modernization
The Manila Times, May 20, 2022
Philippine News Agency
President Rodrigo Duterte on Thursday urged the Philippine Postal Corp. (PHLPost) to continue its modernization efforts to ensure the "seamless" delivery of government services even beyond his term...
MMDA chief: Metro vehicular traffic may return to prepandemic level next month
The Manila Times, May 19, 2022
Claudeth Mocon-Ciriaco
The Metropolitan Manila Development Authority (MMDA) has warned the public to brace for heavy road traffic as the agency expects more schools to resume face-to-face classes in June..
Dominguez to PCIC: Bar self-serving consultants
BusinessMirror, May 19, 2022
Bernadette D. Nicolas
Philippine Crop Insurance Corp. (PCIC) Chairman Carlos G. Dominguez III ordered members of the board of state-run PCIC not to allow foreign consultants to offer projects that would not benefit the agency and the farmers...
Stocks slip into red zone after three-day rally
Philippine Star, May 20, 2022
Iris Gonzales
The local stock market slipped yesterday as investors pocketed recent gains from a mini rally in the past three days...
BSP says higher GDP growth seen in Q2, Philippines 'on track' to meet 2022 target
ABS-CBN News, May 19, 2022
Warren De Guzman
The Philippine economy in the second quarter could breach the higher-than-expected 8.3 percent expansion in the previous quarter, the Bangko Sentral ng Pilipinas said Thursday...
Gov’t think tank: Share of PH debt to GDP to stay high, peak at 66.8 percent
Philippine Daily Inquirer, May 19, 2022
Ben O. de Vera
The Philippines’ public debt ratio has been estimated to peak at 66.8 percent of GDP until 2024 as a result of the prolonged pandemic, although the state-run think tank Philippine Institute for Development Studies (PIDS) expects economic recovery to soon outpace the “less worrisome” debt-increase episode wrought by COVID-19...
NPL ratio eases to three-month low
BusinessWorld, May 19, 2022
Luz Wendy T. Noble
Soured loans held by Philippine banks declined in March, bringing the nonperforming loan (NPL) ratio to its lowest in three months amid the further reopening of the economy...
Pandemic impact on income blamed for self-poverty rise
BusinessMirror, May 19, 2022
Samuel P. Medenilla
Malacañang on Thursday blamed the continuous impact of Covid-19 on the country’s economy for the rise in the numbers of families rating themselves poor, or the self-poverty incidence...
MICE, staycations lifting hotels as quarantine biz folds
BusinessMirror, May 19, 2022
Ma. Stella F. Arnaldo
Hotels in Metro Manila are slowly starting to recover from the loss of the quarantine business, as staycations and meetings have started to multiply. This, as an industry group confirmed that their member-hotels had finally received P1.7 billion from the government in payment for the quarantine stays of overseas Filipino workers (OFWs)...