May 27, 2022
EDITORIAL - The challenge of poverty
Source Philippine Star
UP aces form econ team
Daily Tribune, May 27, 2022
Michelle Guillang, Raffy Ayeng and Raadee Sausa
A number of University of the Philippines (UP) economists and administrators will make up the core of the economic team of President-elect Bongbong Marcos based on the latest postings announced yesterday...
Gov’t to borrow P250 billion from domestic market in June
BusinessWorld, May 27, 2022
Tobias Jared Tomas
The National Government plans to borrow P250 billion from the domestic market in June, the Bureau of the Treasury (BTr) said on Wednesday...
Think tanks see below-goal PH growth in 2022
Philippine Daily Inquirer, May 26, 2022
Ben O. de Vera
Amid lingering external risks, economic think tanks expect the Philippines to log a gross domestic product (GDP) growth below the government’s downscaled goal...
‘Delaying PIT cuts, new taxes to fuel inflation’
BusinessMirror, May 26, 2022
Bernadette D. Nicolas
Experts have expressed concern that the Department of Finance’s (DOF) proposed deferment of the second tranche of personal income tax (PIT) rate reduction and the imposition of new taxes may lead to an increase in the prices of goods...
Duterte OK’s strategic investment priority plan
BusinessWorld, May 27, 2022
Kyle Aristophere T. Atienza
President Rodrigo R. Duterte has approved a 2022 strategic investment plan that lists activities eligible for tax incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act...
SEC, Google to tighten screening of lending apps
BusinessWorld, May 27, 2022
Luisa Maria Jacinta C. Jocson
The Securities and Exchange Commission (SEC) said it is working alongside Google to enforce stricter regulatory compliance to online lending apps...
Senate OKs on 3rd reading bill penalizing indiscriminate firing
The Manila Times, May 26, 2022
Bernadette E. Tamayo
Voting 21-0-0, the Senate on Thursday passed on third and final reading Senate Bill (SB) 2501 penalizing wilful and indiscriminate discharge of firearms...
Senate OKs Bulacan Airport Ecozone
BusinessMirror, May 26, 2022
Voting 21-0 with no objection, the Senate passed on third and final reading House Bill 7575 creating a Bulacan Airport City Complex Economic Zone and Freeport...
Sotto suspends hybrid sessions, requires in-person presence
The Manila Times, May 26, 2022
Bernadette E. Tamayo
Senate President Vicente "Tito" Sotto 3rd has suspended the conduct of hybrid sessions as he required all senators to physically attend sessions next week...
Child Find policy used for learners with disabilities
The Manila Times, May 27, 2022
Kaithreen Cruz
The Department of Education (DepEd) has adopted the Child Find Policy for learners with disabilities to provide them with the necessary support for their education and other opportunities...
Senate ratifies provisions on plastic waste law
Manila Standard, May 26, 2022
Macon Ramos-Araneta
The Senate has ratified the bicameral conference committee report on the disagreeing provisions of bills institutionalizing the mechanism of extended producers’ responsibility (EPR) on plastic waste packaging...
BBM wants to amend EPIRA law
Manila Standard, May 26, 2022
Rey E. Requejo
President-elect Ferdinand “Bongbong” Marcos Jr. on Thursday revealed that he is seriously considering instituting amendments to the Electric Power Industry Reform Act (EPIRA) to bring down the cost of electricity...
SEC, Google collaborate on screening crypto ads in PH
CNN Philippines, May 27, 2022
CNN Philippines Staff
The Securities and Exchange Commission (SEC) continues to work with Google in setting up new policies to further protect the investing public and help address the proliferation of predatory lending in the country...
From DOST, skin care with a touch of ‘tahong’
Philippine Daily Inquirer, May 27, 2022
Jane Bautista
Tired of “tahong” for lunch or dinner? Researchers from the University of the Philippines Visayas (UPV) and the Department of Science and Technology (DOST) will have you know that those mussels are good not only as food but also for skin care...
Country to discuss China sea row with firm voice — Marcos
BusinessWorld, May 26, 2022
Kyle Aristophere T. Atienza
President-elect Ferdinand R. Marcos, Jr. on Thursday vowed to protect Philippine-claimed areas in the South China Sea by engaging China on the dispute...
Marcos to assert Hague ruling
Philippine Daily Inquirer, May 27, 2022
Nestor Corrales and Tina G. Santos
In his first foreign policy pronouncement since being proclaimed president-elect, Ferdinand Marcos Jr. on Thursday said he would uphold a 2016 decision by The Hague-based Permanent Court of Arbitration (PCA) that favored Manila’s diplomatic protest against Beijing’s sweeping claims in the South China Sea...
DOT to boost promotion of PHL as medical, wellness destination
BusinessMirror, May 26, 2022
Ma. Stella F. Arnaldo
The Department of Tourism (DOT) will boost its promotion of medical tourism in the country, as the recent Covid-19 pandemic further put into focus the wealth of knowledge and skills of local medical frontliners...
Missiles readied for frigates
Philippine Daily Inquirer, May 27, 2022
Frances Mangosing
The Philippine Navy will arm its two Jose Rizal-class frigates with surface-to-surface missiles, a military official told the Inquirer. The official said South Korean-made SSM-700K C-Star missiles will be fitted on BRP Jose Rizal (FF-150) and BRP Antonio Luna (FF-151) on Friday at the frigates’ new homeport at Agila Subic, the former Hanjin shipyard, in Zambales...
Asia’s war on inflation targets supply, not consumers
BusinessWorld, May 26, 2022
Reuters
From export bans to price controls, governments in Asia are taking a much more targeted approach than their Western counterparts in curbing global inflationary pressure, a strategy that appears to be working at least for now...
China, Russia veto US bid at UN to punish North Korea
Philippine Star, May 27, 2022
Philippe Rater, Agence France-Presse
China and Russia on Thursday vetoed a US-led bid at the United Nations to toughen sanctions on North Korea over its missile launches, laying bare divisions that Western envoys fear would be exploited by Pyongyang...
Russian forces edge closer to encircling Ukraine troops in east
Philippine Daily Inquirer, May 27, 2022
Reuters
Advancing Russian forces came closer to surrounding Ukrainian troops in the east, briefly seizing positions on the last highway out of a crucial pair of Ukrainian-held cities before being beaten back, a Ukrainian official said on Thursday...
Putin ready to help overcome food crisis if West lifts sanctions
Manila Standard, May 27, 2022
Agence France-Presse
Moscow is ready to make a “significant contribution” to averting a looming food crisis if the West lifts sanctions over Ukraine, President Vladimir Putin told Italian Prime Minister Mario Draghi on Thursday...
WHO countries seek better guard for next pandemic
Philippine Star, May 26, 2022
Robin Millard, Agence France-Presse
Countries meeting at the World Health Organization this week are thrashing out how to prepare for future pandemics -- amid warnings that the planet is wide open to the next crisis...
China urges Japan to stop ‘dangerous’ close monitoring of navy drills
ABS-CBN News, May 27, 2022
Liu Zhen, South China Morning Post
China’s defence ministry has urged Japan to stop “dangerous” close monitoring of the country’s navy exercises, saying it poses a serious safety threat to both sides...
WTO chief asks nations not to restrict food exports
Manila Standard, May 26, 2022
Agence France-Presse
WTO chief Ngozi Okonjo-Iweala on Wednesday urged countries not to block or restrict exports of basic foodstuffs after Russia’s invasion of Ukraine worsened tensions on global food markets...
Breakthrough infections may be less contagious; vaccine protection wanes faster in cancer patients
Rappler, May 27, 2022
Reuters
Fully vaccinated individuals who get infected with the coronavirus spread the infection to fewer people and are contagious for less time compared to people who are partially vaccinated or unvaccinated, a small study from South Korea suggests...
Japan, US fly fighters after China drill, NKorean missiles
The Manila Times, May 26, 2022
Associated Press
Japanese and US forces have conducted a joint fighter jet flight over the Sea of Japan, Japan's Defense Ministry said Thursday, in an apparent response to a Russia-China joint bomber flight while US President Joe Biden was in Tokyo...
EU working on joint purchase of monkeypox vaccines
ABS-CBN News, May 27, 2022
Agence France-Presse
The EU is working on centralizing purchases of vaccines and treatments for monkeypox, with details to be agreed in the "coming days," the European Commission told AFP on Thursday...
US confirms 9 monkeypox cases in 7 states
GMA News, May 27, 2022
Kanishka Singh, Reuters
The United States on Thursday said it had identified nine monkeypox cases in seven states, some in individuals who did not have a recent history of international travel...
For next Finance chief, the top priority is debt management
BusinessWorld, May 27, 2022
Keisha B. Ta-asan
Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno on Thursday said he will prioritize debt management when he assumes his new post as Finance secretary in July...
Marcos signals go-slow stance on joining RCEP
BusinessWorld, May 26, 2022
Revin Mikhael D. Ochave
President-Elect Ferdinand R. Marcos, Jr. will review the Regional Comprehensive Economic Partnership (RCEP) to determine whether the agriculture sector is adequately protected...
Government hospitals ready isolation facilities for monkeypox
Philippine Star, May 27, 2022
Mayen Jaymalin
Amid the threat of monkeypox virus, the Department of Health (DOH) yesterday reported that government hospitals nationwide are now readying isolation facilities...
‘Pinoys need 2 to 3 jobs to avoid poverty’
Philippine Star, May 27, 2022
Mayen Jaymalin
Most Filipinos need to have two to three jobs to steer clear of poverty, according to the Commission on Population and Development (PopCom)...
PRRD delivering ‘Final Report’
Daily Tribune, May 27, 2022
TDT
The outgoing Duterte administration will highlight its “legacy” in a two-day summit scheduled a month before the end of President Rodrigo Duterte’s term on 30 June...
Marcos open to Rody as ‘drug czar’
Daily Tribune, May 27, 2022
Michelle R. Guillang
Outgoing President Rodrigo Duterte can take part in the incoming administration possibly as a “drug czar,” President-elect Bongbong Marcos said on Thursday...
Expanded 2nd booster shot starts
Manila Standard, May 27, 2022
Willie Casas and Joel E. Zurbano
The Philippines rolled out Thursday the second COVID-19 booster shots to the elderly and health workers...
Incoming govt no tolerance for graft, corruption
Manila Standard, May 27, 2022
Rey E. Requejo
While his administration won’t shelve any pending corruption cases, President-elect Ferdinand Marcos Jr. said “let’s forget the past” in relation to prevailing corruption at the Bureau of Internal Revenue and Bureau of Customs...
Duterte approves 2022 Strategic Investment Priority Plan
Philippine Daily Inquirer, May 26, 2022
Zacarian Sarao
President Rodrigo Duterte on Thursday approved the 2022 Strategic Investment Priority Plan (SIPP) that mandates the retention of investment preferences in 2020 and the inclusion of other activities that “promote a competitive and resilient economy...
Marcos sets independent foreign policy: friends to all, enemy to none
Manila Standard, May 27, 2022
Rey E. Requejo
President-elect Ferdinand “Bongbong” Marcos Jr. on Thursday laid down the foreign policy of his incoming administration, vowing the country’s direction would be independent as “a friend to everyone and an enemy to no one”...
Bongbong Marcos partially bares ‘best people’ for his economic team
Philippine Daily Inquirer, May 26, 2022
Daphne Galvez
A day after being proclaimed winner in the May presidential election, President-elect Ferdinand “Bongbong” Marcos Jr. revealed a partial list of “best people” for his economic team...
Comelec proclaims 55 winning party-list groups
BusinessMirror, May 26, 2022
Samuel P. Medenilla
The Commission on Elections (Comelec) en banc sitting as the National Board of Canvassers (NBOC) pushed through with the proclamation of the winning party-list groups for the May 9, 2022 polls...
Garcia on Comelec 2022 poll performance: Much improvement needed
Philippine Star, May 27, 2022
Evelyn Macairan
For its performance in the conduct of the recent national and local elections, Commission on Elections (Comelec) Commissioner George Garcia has given the poll body a grade of 8.5 out of a perfect 10...
‘Economic team will boost confidence in PHL’
BusinessMirror, May 26, 2022
VG Cabuag and Andrea E. San Juan
Local business groups and analysts welcomed the nominees of President-elect Ferdinand R. Marcos Jr. for his economic team, saying they have the requisite skills and experience to address the fiscal challenges created by the pandemic...
Media wary of possible limited access to president-elect Bongbong Marcos
Philippine Daily Inquirer, May 27, 2022
Krixia Subingsubing and Nestor Corrales
A day after Congress proclaimed him as the country’s next president, Ferdinand Marcos Jr. held a news conference where he discussed a broad range of issues that his administration would be dealing with and announced additional members of his future Cabinet after he takes office on June 30...
CHR criticizes police over force in dispersal
Philippine Daily Inquirer, May 27, 2022
Krixia Subingsubing
The Commission on Human Rights (CHR) has expressed serious alarm at the Philippine National Police for using water cannons and brute force to subdue protesters who gathered on CHR grounds on Wednesday to voice out their dismay at the proclamation of President-elect Ferdinand Marcos Jr...
Ople: DMW ready by January
Philippine Daily Inquirer, May 27, 2022
John Eric Mendoza
Incoming Department of Migrant Workers (DMW) chief Susan Ople said on Thursday that she planned to have the newly created agency fully operational by January next year...
Explain mistake, poll officials told
Philippine Daily Inquirer, May 27, 2022
Kathleen de Villa
The Commission on Elections (Comelec) ordered election officials from four provinces and two Metro Manila cities to explain why they failed to include the certificates of canvass (COCs) covering their jurisdictions in the ballot boxes that were sent to a joint session of Congress for the recently concluded canvassing of votes...
BBM to retain Duterte admin policies on illegal drugs, foreign relations
BusinessMirror, May 26, 2022
Samuel P. Medenilla
President-elect Ferdinand “Bongbong” R. Marcos Jr. on Thursday said he will retain the policies of his predecessor, outgoing President Rodrigo R. Duterte, when it comes to illegal drugs and foreign relations...
DA issues 14-year roadmap for agri-fishery machinery industry
BusinessWorld, May 26, 2022
Luisa Maria Jacinta C. Jocson
The Department of Agriculture (DA) said it has completed a roadmap to 2036 seeking to make the agri-fishery machinery assembly and manufacturing industry more competitive...
PopCom forecasts small rebound in births, lower mortality in 2022
CNN Philippines, May 26, 2022
CNN Philippines Staff
The Commission on Population and Development (PopCom) predicts a slightly higher population growth in the country this year after recording a dramatic drop in 2021...
Comelec eyes barangay, SK polls
Manila Standard, May 26, 2022
The Commission on Elections (Comelec) will start next month laying the groundwork for the December 2022 barangay and Sangguniang Kabataan (SK) elections despite calls for its postponement, Commissioner George Garcia said on Thursday...
Specialized programs needed to address equity gaps in education — Briones
Manila Bulletin, May 26, 2022
Merlina Hernando-Malipot
If world leaders and ministers want to accelerate addressing equity gaps in education, Department of Education (DepEd) Secretary Leonor Briones underscored the need to implement specialized programs for the affected sector...
PH govt needs database for aid distribution
Manila Standard, May 26, 2022
Maricel Cruz
A legislator on Thursday cited the importance of proper data governance in delivering vital financial aid and social services to Filipinos in the post-pandemic era, saying the databases created by national agencies and local governments should by now be centralized and streamlined...
BSP signals rate hike in June
BusinessWorld, May 27, 2022
Keisha B. Ta-asan
The Philippine central bank is likely to raise its key interest rate by another 25 basis points (bps) at its next policy meeting in June...
EGov Pay transactions surge by 467% as consumers shift online
BusinessWorld, May 27, 2022
K.B. Ta-asan
EGOV Pay transactions jumped by 467% to over 91,000 at the end of 2021 from just around 16,000 a year earlier, the Bangko Sentral ng Pilipinas (BSP) said on Thursday...
Concepcion sees more support for MSMEs
The Manila Times, May 27, 2022
Kristina Maralit
Presidential Adviser for Entrepreneurship Jose Ma. "Joey" Concepcion 3rd has commended the appointment of Alfredo Pascual, president of the Management Association of the Philippines (PMAP), as secretary of the Department of Trade and Industry (DTI)...
Business groups nod as Marcos forms economic team
Philippine Daily Inquirer, May 27, 2022
Jeannette I. Andrade
Earning an early thumbs-up from business groups, President-elect Ferdinand Marcos Jr. on Thursday announced new appointments to his economic team, emphasizing his incoming administration’s focus on steering the economy out of a slump...
Finex vows support for Marcos, Duterte
The Manila Times, May 27, 2022
Anna Leah E. Gonzales
The Financial Executives Institute of the Philippines (Finex) on Wednesday congratulated President-elect Ferdinand "Bongbong" Marcos Jr. and his running mate, Vice President-elect Sara Duterte-Carpio, on their victory in the May 9 elections...
Despite imports, rice farmers’ productivity up
The Manila Times, May 27, 2022
Ben O. de Vera
Despite an influx of rice imports due to liberalized trade, the Department of Finance (DOF) on Thursday said local farmers’ yields have improved thanks to financing for productivity enhancement programs...
Stabilizing food, fuel prices top Marcos agenda
BusinessMirror, May 26, 2022
Samuel P. Medenilla
President-elect Ferdinand “Bongbong” R. Marcos Jr. said stabilizing the prices of food, fuel and power tops his administration’s agenda once he starts his term next month...
Farmers buck proposal for NFA to sell rice below cost
Philippine Daily Inquirer, May 27, 2022
Jordeene B. Lagare
Agriculture Secretary William Dar’s proposal for rice stocks of the National Food Authority (NFA) be made available to low income consumers is being opposed by a group of farmers opposed to the idea of the agency’s return to commercial selling...
Rice no longer main driver of inflation, DoF says
BusinessWorld, May 26, 2022
Keisha B. Ta-asan
The Department of Finance (DoF) said that the Rice Tariffication Law (RTL) has removed rice as the main driver of inflation by making farmers more productive, with average farm yields rising to 4.22 tons per hectare (t/ha) in 2021 from 3.65 t/ha before the law took effect...
Duterte to non-bank gov’t entities: Create structure for forex product transactions
Philippine Daily Inquirer, May 26, 2022
Daniza Fernandez
President Rodrigo Duterte has ordered non-bank government entities to create frameworks for foreign exchange derivatives transactions...
Lawmakers: Fiscal consolidation must not cause needless misery
BusinessMirror, May 26, 2022
Butch Fernande and Jovee Marie De La Cruz
Saying measures to make economic growth outpace the P13-trillion debt should be weighed carefully, lawmakers on Thursday offered insights on crafting a fiscal consolidation package without needlessly hurting majority of the people...
ITC, partners bare proposals to support PHL entrepreneurs
BusinessMirror, May 26, 2022
Andrea E. San Juan
The International Trade Centre (ITC), in close consultations with Philippine partners including the government, private sector, and academia, gathered recommendations on how to develop support for Philippine entrepreneurs...
Proposed rice sale to poor contradicts RTL – farmers
Manila Bulletin, May 26, 2022
Bernie Cahiles-Magkilat
The Federation of Free Farmers (FFF) cautioned the Department of Agriculture (DA) against unilaterally selling rice buffer stocks to poor consumers, as this contradicts the Rice Tariffication Law (RTL), which lifts the volume ceiling in rice importation and replacing it with high tariff wall...
Dominguez: Closing Naia, selling its land an option for Bongbong Marcos
Philippine Daily Inquirer, May 26, 2022
Ben O. de Vera
The incoming administration of Ferdinand “Bongbong” Marcos Jr. may consider closing down the Ninoy Aquino International Airport (Naia) and then selling the vast tract of land it sits on to raise more government revenues, President Rodrigo Duterte’s chief economic manager said...
Diokno to look into PH debt sustainability, review proposed tax system as DOF chief
CNN Philippines, May 26, 2022
Pilar Manuel
As he gears up for the role of Finance secretary, outgoing Bangko Sentral ng Pilipinas chief Benjamin Diokno has his eyes set on addressing the country's record-high debt...