May 4, 2022
Philippines inches up to 52nd in public integrity index
Source BusinessWorld
Ukraine war to slow PH growth
The Manila Times, May 4, 2022
Anna Leah E. Gonzales
The Philippine economy is expected to further grow this year but at a slower pace than what the government originally targeted due to the effects of the Russia-Ukraine war, Trade Secretary Ramon Lopez said...
Duterte stops e-sabong operations
BusinessWorld, May 4, 2022
Kyle Aristophere T. Atienza
President Rodrigo R. Duterte said on Monday he will order the termination of online cockfighting operations in the Philippines, after earlier flaunting the hundreds of millions of pesos in government revenues generated from these games...
Journalism under digital siege, foreign envoys warn
Philippine Star, May 4, 2022
Pia Lee-Brago
Foreign envoys yesterday expressed concern that journalism is under digital siege, warning about the amplified impact of misinformation and disinformation in the Philippines, in a statement released on World Press Freedom Day...
More investments against fraud sought amid vetoed SIM card registration bill
BusinessWorld, May 4, 2022
Luz Wendy T. Noble
As the proposed measure mandating the registration of subscriber identity module or SIM cards was vetoed, financial institutions may have to invest more to prevent rising fraud risks for consumers, analysts said...
Lenders oppose BSP’s proposed credit quota for innovation dev’t
BusinessWorld, May 4, 2022
L.W.T. Noble
The Central Bank's proposal to impose a lending quota for the development of new technologies and innovations for various services will affect smaller lenders negatively as these do not match their market, according to the Rural Bankers Association of the Philippines (RBAP)...
Want WFH, list with BoI — Lopez
Daily Tribune, May 4, 2022
Raffy Ayeng
Business process outsourcing (BPO) companies inside economic zones which are against the return-to-office policy of the Fiscal Incentives Review Board (FIRB) that started last 1 April can transfer their registration to the Board of Investments (BoI) since it offers a more relaxed working arrangement...
Villar lauds passing of protected areas laws
Philippine Star, May 4, 2022
Paolo Romero
Sen. Cynthia Villar recently welcomed President Duterte’s enactment into law of five measures, declaring Mt. Pulag and four other sites in the country as protected areas (PAs) that she all authored...
BOT IRR seen forcing private partners to take on more risk
BusinessWorld, May 3, 2022
Tobias Jared Tomas
The revised implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law will compel private proponents to shoulder more risk, possibly giving them pause before entering into future private-public partnerships, an economist said...
Law seen to hit online scammers hard
BusinessMirror, May 3, 2022
Jovee Marie De La Cruz
The chairman of the House Committee on Ways and Means on Tuesday said that a tougher crackdown on illegal online lending and investment scams “is in the offing” as President Rodrigo Duterte is likely to sign the proposed Financial Consumer Protection (FCP) Act this week...
Taxman coming for Netflix, et al.
Philippine Daily Inquirer, May 4, 2022
Ben O. de Vera
The Bureau of Internal Revenue (BIR) is working on a system to collect value-added tax (VAT) from foreign digital service providers, including global giants like Amazon, Google, Netflix and Spotify...
Comelec bans paraphernalia showing candidate's face, name in voting precincts
The Manila Times, May 3, 2022
William Depasupil
It's better to be Covid-19 positive because you will still be allowed to vote but not when you are wearing a shirt, face mask or hat with the face and name of a particular candidate on them, according to the Commission on Elections (Comelec)...
Rody spares cops, soldiers from Comelec gun ban
Manila Standard, May 4, 2022
Vito Barcelo
President Rodrigo Duterte said late Monday all members of police and military should be automatically exempted from the gun ban of the Commission on Elections (Comelec), saying the election period is not the time to impose restrictions on uniformed personnel...
BPO firms asked to register with BOI for WFH arrangement
Manila Standard, May 3, 2022
Othel V. Campos
The Department of Trade and Industry on Tuesday encouraged IT-business process management companies to register with the Board of Investments to exempt them from the geographical limitation which is intrinsic to operating within economic zones...
DoF, BIR building online registration system for DPS
The Manila Times, May 4, 2022
Mayvelin U. Caraballo
The Department of Finance (DoF) said it is working with the Bureau of Internal Revenue (BIR) to build a system that will allow digital service providers (DPS) to meet their tax obligations under a proposed value-added tax (VAT) measure...
Lab-grown 'human milk' may be just three years away
CNN Philippines, May 4, 2022
Milly Chan, CNN Business
Breast milk is the perfect food for babies but not all mothers are able to breastfeed, and with adoption or surrogacy, parents don't have the option. Enter: BIOMILQ. The North Carolina-based startup is working to create "human milk" outside of the body...
AFP gets $2-M military equipment from US
Philippine Daily Inquirer, May 4, 2022
Frances Mangosing
The United States on Monday turned over $2 million worth of military equipment as part of its commitment to bolster the Armed Forces of the Philippines...
Ranks of poor in lower mid income zones to swell by 43 million
BusinessMirror, May 3, 2022
Cai Ordinario
Higher international poverty lines could increase the ranks of the poor by 43 million in lower middle income countries in East Asia and the Pacific, according to World Bank estimates...
Ransomware more vicious; Attacks climb last year
Daily Tribune, May 4, 2022
Raffy Ayeng
Cyberattacks termed as ransomware, a type of malicious software designed to block access to a computer system until a sum of money is paid in exchange, have increased in 2021, records from global cybersecurity leader Palo Alto Networks revealed...
Food security at risk from global fertilizer crunch
BusinessMirror, May 3, 2022
Elizabeth Elkin & Samuel Gebre / Bloomberg News
For the first time ever, farmers the world over—all at the same time—are testing the limits of how little chemical fertilizer they can apply without devastating their yields come harvest time. Early predictions are bleak...
US abortion battle reignites as Supreme Court signals it will overturn Roe v. Wade
Rappler, May 4, 2022
Reuters
America’s decades-old battle over abortion rights exploded anew on Tuesday, May 3, as the Supreme Court confirmed a draft opinion that signaled it will soon overturn the landmark 1973 Roe v. Wade ruling that legalized abortion nationwide...
EU readies for end of Russia gas, warns won't pay in rubles
Philippine Star, May 3, 2022
Dave Clark
The European Union warned member states Monday to prepare for a possible complete breakdown in gas supplies from Russia, insisting it would not cede to Moscow's demand that imports be paid for in rubles...
Russia steps up Ukraine assault as US warns of annexation
Philippine Star, May 3, 2022
Joshua Melvin
Russia on Monday launched a fresh assault on the critical Ukrainian port of Odessa as the United States warned that Moscow was preparing formally to annex embattled regions in the east...
Much-maligned rats unlikely to spark next pandemic — study
GMA News, May 4, 2022
Daniel Lawler, Agence France-Presse
Rats have been seen as filthy disease-spreaders since at least the time of the plague, but new research shows that rodents and other city-dwelling animals are less likely to cause the next pandemic than previously thought...
Putin puts West on notice: Moscow can terminate exports and deals
Rappler, May 3, 2022
Reuters
Russian President Vladimir Putin put the West on notice on Tuesday, May 3, that he could terminate exports and deals, the Kremlin’s toughest response yet to the sanctions burden imposed by the United States and allies over the Russian invasion of Ukraine...
Hong Kong Q1 2022 GDP shrinks more than expected on COVID-19 curbs
Rappler, May 3, 2022
Reuters
Hong Kong’s economy contracted in the first quarter of this year as the city imposed its most stringent restrictions to curb an outbreak of COVID-19 that has battered business, led to an exodus of people, and overshadowed the outlook for growth...
Global problems may exacerbate shortages in North Korea’s isolated economy
Rappler, May 3, 2022
Reuters
North Korea’s isolated economy will not be insulated from global economic headwinds caused by the Ukraine war and the COVID-19 lockdowns in China, analysts said, with recently resumed border trade taking a hit and inflation exacerbating food shortages...
Pfizer Q1 revenues jump 77 pct to $25.7 billion on COVID-19 vaccine
ABS-CBN News, May 3, 2022
Agence France-Presse
Pfizer reported another quarter of huge revenue growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year profit forecast due in part to shifts in foreign exchange...
Policies aid factories in dealing with Covid's impact
The Manila Times, May 4, 2022
Xinhua News Agency
Amid the headwinds brought by Covid-19 outbreaks across China, the government has taken countermeasures to assist manufacturing companies in coping with the impact of the public health crisis...
Govt relief helps trading enterprises weather pandemic
The Manila Times, May 4, 2022
Xinhua News Agency
While complex local and global economic situations are weighing on businesses amid the Covid-19 pandemic, foreign trade enterprises in China will see their cash-flow problems eased by a raft of relief measures...
Push to arm Ukraine putting strain on US weapons stockpile
The Manila Times, May 3, 2022
Associated Press
The planes take off almost daily from Dover Air Force Base in Delaware — hulking C-17s loaded up with Javelins, Stingers, howitzers and other material being hustled to Eastern Europe to resupply Ukraine's military in its fight against Russia...
DOJ to toss recantation mess to Ombudsman
Philippine Daily Inquirer, May 4, 2022
Marlon Ramos
The Department of Justice (DOJ) on Tuesday said it would let the Office of the Ombudsman determine the liabilities of its former and current officials who were accused by a primary witness of forcing him to testify against detained Sen. Leila de Lima...
Comelec chief sees higher voter confidence after ‘flawless’ FTS
BusinessMirror, May 3, 2022
Samuel P. Medenilla
Following a “flawless” Final Testing and Sealing (FTS) operation on Tuesday, Comelec is now hopeful there will be a high voter confidence in the outcome of the National and Local polls next week...
DA goes for broke with P2.5T, 10-year agri modernization plan
BusinessWorld, May 3, 2022
Luisa Maria Jacinta C. Jocson
The Department of Agriculture (DA) said its modernization plan for the industry will run for 10 years and cost P2.5 trillion, warning that the Philippines needs to act effectively to stave off an imminent food crisis...
PNP to form teams vs vote-buying — DILG
Philippine Daily Inquirer, May 4, 2022
Daniza Fernandez
The Philippine National Police (PNP) will be forming teams to respond to vote-buying incidents, the Department of the Interior and Local Government (DILG) said Wednesday...
Booster shot first before voting—Du30
Manila Standard, May 4, 2022
Vito Barcelo and Othel V. Campos
President Rodrigo Duterte reiterated his call to Filipinos to get COVID-19 booster shots before participating in the May 9 national and local elections...
56.89% of all PH public schools in in-person classes
Manila Standard, May 4, 2022
Willie Casas
Over half of all public schools nationwide have already gone back to in-person learning amid the COVID-19 pandemic, the Department of Education (DepEd) said...
Get booster ahead of polls — PRRD
Daily Tribune, May 4, 2022
TDT
President Rodrigo Duterte urged Filipinos participating in Monday’s national and local elections to receive a booster shot against Covid-19, saying the disease remains a threat to public health...
Focap asks social media firms to act on online attacks vs press
Philippine Daily Inquirer, May 4, 2022
Dempsey Reyes
On World Press Freedom Day, a group of journalists expressed grave concern over online attacks and threats directed at some of their members, particularly from supporters of presidential aspirant Ferdinand Marcos Jr., as they called on social media companies to take action...
Think tank outlines criteria on election of new leaders
BusinessMirror, May 3, 2022
Rizal Raoul Reyes
Governance is measured through definite composite indicators, not mere rhetoric, and Filipinos need to elect candidates who actively pursue reforms and build strong institutions to enable the country to recover and eventually thrive in a post-pandemic world, according to a think tank....
EO brings back NIA under Agri department’s control
BusinessMirror, May 3, 2022
Jovee Marie De La Cruz
President Duterte has issued an executive order returning the National Irrigation Administration (NIA) from the Office of the President to the Department of Agriculture (DA)...
GSIS collects P113M in loan payments in 2021 via Bayad app
BusinessMirror, May 3, 2022
Bernadette D. Nicolas
State pension fund Government Service Insurance System (GSIS) announced having collected P113 million in loan payments since starting a partnership with CIS Bayad Center Inc. last year...
PUBLiCUS: 5 cities in NCR battlegrounds in mayoral race
The Manila Times, May 4, 2022
Kaithreen Cruz
As the May 9, 2022 elections draw near, five cities in the National Capital Region (NCR or Metro Manila ) are considered battlegrounds for the mayoral race — Caloocan, Las Piñas, Malabon, Manila and Pateros — according to the late-April survey of PUBLiCUS...
DOT expects PH tourism boost as Clark Int’l Airport starts operation
Manila Bulletin, May 3, 2022
Aaron Recuenco
More foreign tourists are expected to visit the Philippines as the Clark International Airport started its operation on Monday, May 2,, the The Department of Tourism (DOT) said...
Vaccine project left to next leaders
Manila Bulletin, May 3, 2022
Bernie Cahiles-Magkilat
The outgoing administration will have to pass on to the next leaders the decision on how to pursue the much-vaunted vaccine manufacturing project, a supposed legacy of the Duterte administration hatched at the height of the pandemic...
Study says Duterte successor needs to change spending priorities
Philippine Daily Inquirer, May 3, 2022
Cristina Eloisa Baclig
As the COVID-19 pandemic continues to batter the Philippine economy, the next set of the country’s leaders face the challenge of revising the Duterte administration’s budget priorities for a more inclusive recovery, according to a study...
E-sabong’s social costs: Debt, possibly, even death
Philippine Daily Inquirer, May 3, 2022
Kurt Dela Peña
As sabong (cockfight) went online in 2018, the House of Representatives already expressed its concerns, but as COVID-19 lockdowns were implemented in 2020, the craze even went wilder...
China could hit PH, Taiwan amid Russia-Ukraine conflict, Duterte warns
GMA News, May 4, 2022
Richa Noriega
China might attack the Philippines and Taiwan if the conflict between Russia and Ukraine escalated due to the presence of United States forces here, President Rodrigo Duterte said on Tuesday...
Senate ready to receive CoCs for natl elections
The Manila Times, May 3, 2022
Javier Joe Ismael
With six more days before election day, the Office of the Senate Secretary has assured that the Senate is now ready to receive certificates of canvass and other documents for the canvassing of votes for the May 9, 2022 presidential and vice presidential elections...
Pulse Asia defends 'flaws' in sampling methods
CNN Philippines, May 4, 2022
CNN Philippines Staff
Critics, including a statistician, have recently pointed out numerous "flaws" in the non-commissioned pre-election preference surveys by Pulse Asia. But the head of the polling firm defended its sampling methods to get the sentiments of likely voters...
Govt eyes COVID shots in schools, to 'strongly' encourage physical classes for private students
CNN Philippines, May 3, 2022
CNN Philippines Staff
The government is looking into vaccinating against COVID-19 basic education students attending in-person classes, as it is also set to call on private schools to resume face-to-face learning amid low turnout...
Next president needs to build on Duterte’s reforms — economist
BusinessWorld, May 4, 2022
Tobias Jared Tomas
The Country's next president will need to build on the economic reforms started by the Duterte administration in order to sustain recovery from the pandemic, according to think tank GlobalSource Partners...
Bulk prices surge to over 10-year high
BusinessWorld, May 4, 2022
Bernadette Therese M. Gadon
Nationwide bulk prices of general goods rose to their highest level in more than a decade in February due to higher fuel costs caused by the Russia-Ukraine war, latest preliminary data from the Philippine Statistics Authority (PSA) showed...
Bank deposits hit P16.2 trillion in 2021
BusinessWorld, May 4, 2022
Luz Wendy T. Noble
Total deposits with Philippine banks reached P16.2 trillion last year, reflecting the gradual recovery of the economy from the impact of the coronavirus pandemic...
`Public-private partnership vital in pandemic recovery'
The Manila Times, May 4, 2022
Catherine S. Valente
Presidential Adviser for Entrepreneurship Jose Maria "Joey" Concepcion 3rd said the public and private sector's partnership paved the way for the Philippines' success in its battle against the Covid-19 pandemic...
Bank deposits hit P16.2 trillion in 2021
BusinessWorld, May 4, 2022
Luz Wendy T. Noble
Total deposits with Philippine banks reached P16.2 trillion last year, reflecting the gradual recovery of the economy from the impact of the coronavirus pandemic...
DOT expects PH tourism boost as Clark Int’l Airport starts operation
Manila Bulletin, May 3, 2022
Aaron Recuenco
More foreign tourists are expected to visit the Philippines as the Clark International Airport started its operation on Monday, May 2,, the The Department of Tourism (DOT) said...
Wholesale prices of building materials surge
Philippine Star, May 4, 2022
Louise Maureen Simeon
Wholesale prices of building materials in Metro Manila picked up pace in March after the capital was placed under the most lenient alert level classification, the Philippine Statistics Authority (PSA) said...
No counterfeit medicine manufacturing in Philippines – IPOPHL
Philippine Star, May 4, 2022
Louella Desiderio
The Intellectual Property Office of the Philippines (IPOPHL) said no counterfeit medicines are being produced in the country, after a recent US government report cited the Philippines as among the leading sources of fake medicines worldwide...
Fuel marking collections reach P422 billion
Philippine Star, May 4, 2022
Elijah Felice Rosales
Government revenue from the fuel marking program reached P422.22 billion as of April 28, according to the Department of Finance (DOF)...
US firm eyes BPO presence in country
Philippine Star, May 4, 2022
Louella Desiderio
US information technology (IT) firm Mphasis Corp. plans to establish business process outsourcing (BPO) operations in the country, according to the Department of Trade and Industry (DTI)...
Govt urged to lift ban on hog product imports
The Manila Times, May 4, 2022
Eireene Jairee Gomez
Fishery and aquaculture industry players want the Department of Agriculture to lift a ban on porcine processed animal protein (PAP) imports...
Peso to further weaken as trade deficit widens
Philippine Daily Inquirer, May 4, 2022
Ronnel W. Domingo
The Philippines peso is expected to weaken to 53.50:$1 by June amid the widening trade deficit, although the local currency is seen gaining strength for the remainder of the year...
Small accounts helped drive 9% growth in 2021 bank deposits
Philippine Daily Inquirer, May 4, 2022
Ronnel W. Domingo
The value of deposits in banks operating in the Philippines jumped by 9 percent to reach P16.2 trillion in 2021 from P14.9 trillion in 2020, as the economy started to recover from pandemic-caused recession and also thanks to more small deposits...
Semirara looking at bumpy 2022 amid ‘erratic’ coal, fuel prices
Philippine Daily Inquirer, May 3, 2022
Jordeene B. Lagare
Integrated energy company Semirara Mining and Power Corp. is less optimistic about its earnings prospects for the year, mainly due to the surge in prices of electricity and other commodities...
Manufacturing gauge reaches 53-month peak
Manila Standard, May 4, 2022
Othel V. Campos
The Purchasing Managers Index, a gauge of manufacturing sector, hit a 53-month peak at 54.3 in April from 53.2 in March, suggesting the sustained growth of the sector as the government reopened more industries...