May 6, 2022
EDITORIAL - COVID-free, fraud-free
Source Philippine Star
NG debt hits record P12.68 trillion as of end-March
BusinessWorld, May 6, 2022
Tobias Jared Tomas
The National Government's (NG) outstanding debt rose to a record P12.68 trillion as of end-March, as domestic and offshore borrowings increased, the Bureau of the Treasury (BTr) said on Thursday...
PEZA says Q1 approved investments plunged 68%
BusinessWorld, May 6, 2022
R.M.D. Ochave
The Philippine Economic Zone Authority (PEZA) reported a 68% decline in approved investments in the first quarter of 2022, as the Russia-Ukraine war hurt global economic prospects...
Inflation hits 4.9% in April
Manila Times, May 6, 2022
Mayvelin U. Caraballo and Anna Leah E. Gonzales
Inflation accelerated to 4.9 percent in April, the highest in over three years, mainly driven by higher food and transport prices...
2.87 million Filipinos without jobs in March
CNN Philippines, May 6, 2022
Pilar Manuel
The number of unemployed Filipinos fell in March to 2.87 million from 3.13 million the month prior, the Philippine Statistics Authority said Friday. This led to a national joblessness rate of 5.8%, lower than 6.4% in February...
BSP seen doubling its key rate over the next 10 months
Philippine Daily Inquirer, May 6, 2022
Ronnel W. Domingo
After 18 months or 11 policy meetings without budging from a historic low of 2 percent, the key interest rate of the Bangko Sentral ng Pilipinas (BSP) is expected to rise rapidly starting May, and end up doubling to 4 percent by March 2023...
As inflation quickens, economists now expect aggressive rate hikes
Philippine Star, May 6, 2022
Lawrence Agcaoili
Economists believe the Bangko Sentral ng Pilipinas (BSP) could deliver aggressive rate hikes amid quickening inflation, as well as the continued interest rate liftoff by the US Federal Reserve...
MAY 9 POLLS: Failure not an option, says Comelec, as it finishes delivery of election materials
BusinessMirror, May 5, 2022
Samuel P. Medenilla
With almost all election paraphernalia delivered in designated voting centers, the Commission on Elections (Comelec) said it is ready to conduct the 2022 polls...
TUCP petitions for P420 hike in Ilocos region minimum wage
BusinessWorld, May 5, 2022
Kyle Aristophere T. Atienza
The Trade Union Congress of the Philippines (TUCP) said on Thursday that it filed a petition seeking a P420 increase in the minimum wage for Ilocos Region, in line with other petitions it filed with other boards...
No intent to squeeze out PUV operators in PSA amendments — Poe
BusinessWorld, May 5, 2022
Arjay L. Balinbin
Amendments to the Public Service Act (PSA) were not specifically designed to force small-scale transport operators out of the industry, the author of the amendments said...
BIR amends rules for issuing GOCC tax clearances
BusinessWorld, May 5, 2022
Tobias Jared Tomas
The Bureau of Internal Revenue (BIR) said it amended the rules governing the issuance of tax clearance certificates as they relate to determining interim performance-based bonuses in government-owned or -controlled corporations (GOCCs)...
Status quo on WFH row sought
Daily Tribune, May 6, 2022
Raffy Ayeng
After Trade Secretary Ramon Lopez suggested that business process outsourcing (BPO) firms transfer their registration to the Board of Investments (BoI) to enjoy incentives despite being in a work-from-home (WFH) setup, Philippine Economic Zone Authority (PEZA) director general Charito Plaza called the scheme prejudicial..
CSC reminds gov't employees to file SALNs
The Manila Times, May 5, 2022
Kaithreen Cruz
The Civil Service Commission (CSC) reminded government employees to prepare and submit their Statement of Assets, Liabilities, and Net Worth (SALN) with their respective departments, agencies, or offices...
Filipinos to pay higher PhilHealth rate starting June 2022
Rappler, May 5, 2022
Bonz Magsambol
Filipinos should expect to pay higher contributions to the Philippine Health Insurance Corporation (PhilHealth) beginning June 2022...
BSP must brace for more US policy tightening — analysts
BusinessWorld, May 6, 2022
Luz Wendy T. Noble
The Bangko Sentral ng Pilipinas (BSP) should be prepared to act as the US Federal Reserve is poised for more rate hikes this year and domestic inflation likely to remain elevated in the next few months...
‘ADB must lead recovery for Covid, war fallout victims’
BusinessMirror, May 5, 2022
Bernadette D. Nicolas
Manila-based Asian Development Bank (ADB) should lead the recovery efforts of Asia-Pacific economies weighed down by the impact of the Covid-19 pandemic and the prolonged Russia-Ukraine war, according to Finance Secretary Carlos G. Dominguez III...
PHL, Korea partner for climate change solutions and smart agriculture
BusinessWorld, May 5, 2022
Alyssa Nicole O. Tan
Two projects aimed at enhancing climate change solutions and smart agriculture in the Philippines will be undertaken jointly by the government in partnership with Korea, the Department of Foreign Affairs announced on Thursday...
Canada-ASEAN trade deal touted as gateway to North American markets
BusinessWorld, May 5, 2022
Revin Mikhael D. Ochave
The proposed Association of Southeast Asian Nations (ASEAN)-Canada free trade agreement (ACANFTA) holds the potential to broaden Philippine goods’ access to North American markets, the Department of Trade and Industry (DTI) said...
Lorenzana: Chinese envoy apologized over water cannon incident in Ayungin Shoal
CNN Philippines, May 6, 2022
CNN Philippines Staff
Defense Secretary Delfin Lorenzana said the Chinese ambassador has apologized for the firing of water canon of Chinese Coast Guard vessels on Philippine boats in Ayungin Shoal...
COVID-19 led to 15 million deaths globally, not the 5 million reported – WHO
Philippine Daily Inquirer, May 6, 2022
Reuters
Almost three times as many people have died as a result of COVID-19 as official data show, according to a new World Health Organization (WHO) report, the most comprehensive look at the true global toll of the pandemic so far...
OPEC+ eye modest boost in oil output
The Manila Times, May 6, 2022
Agence France-Presse
Major oil producers meeting on Thursday are expected to agree to a marginal increase in oil production, bolstered by risks to demand amid coronavirus restrictions in China...
US limits use of J&J's COVID-19 vaccine for adults on blood clot risks
GMA News, May 6, 2022
The US health regulator said on Thursday it was limiting the use of Johnson & Johnson's COVID-19 vaccine for adults due to the risk of a rare blood clotting syndrome, the latest setback to the shot that has been eclipsed by rivals...
UN calls for end to Russian war in Ukraine
Philippine Daily Inquirer, May 6, 2022
Agence France-Presse
The United Nations and several countries called Thursday for an end to Russia’s war in Ukraine, with little mention of reviving the two countries’ apparently stalled peace talks...
Almost 3 times as many died as a result of COVID-19 than officially reported – WHO
Rappler, May 5, 2022
Reuters
Almost three times as many people have died as a result of COVID-19 as the official data show, according to a new World Health Organization (WHO) report, the most comprehensive look at the true global toll of the pandemic
so far...
Omicron as severe as other COVID-19 variants — large US study
GMA News, May 6, 2022
The Omicron variant of the SARS-CoV2 virus is intrinsically as severe as previous variants, according to a preprint version of a large US study that counters assumptions in other studies that it was more transmissible but less severe...
Evidence mounts for need to study Pfizer's Paxlovid for long COVID — researchers say
GMA News, May 6, 2022
Julie Steenhuysen, Reuters
Additional reports of patients with long COVID who were helped by Pfizer Inc's oral antiviral treatment Paxlovid offer fresh impetus for conducting clinical trials to test the medicine for the debilitating condition, US researchers said on Thursday...
Third case of Ebola detected in northwestern DRC, WHO says
CNN Philippines, May 6, 2022
Nimi Princewill and Amy Cassidy, CNN
Health authorities in the Democratic Republic of Congo (DRC) have identified a third case of Ebola in the city of Mbandaka, the World Health Organization said Thursday...
UN: Record number of people without enough to eat in 2021
BusinessMirror, May 5, 2022
Associated Press
The United Nations said Wednesday that the number of people without enough to eat on a daily basis reached all-time high last year and is poised to hit “appalling” new levels as the Ukraine war affects global food production...
‘How did we catch it?’: spread of COVID baffles locked-down Shanghai residents
Philippine Daily Inquirer, May 6, 2022
Reuters
Veronica thought she did everything right by sticking to all of the COVID-19 lockdown rules in the Chinese city of Shanghai. After the entire city was shut down on April 1, her family of four scrupulously followed government orders to stay at home, stepping out the front door only for mandatory PCR testing...
Millions in Beijing urged to work from home to fight virus outbreak
Manila Standard, May 5, 2022
Agence France-Presse
Millions of people in Beijing returned to work Thursday, many remotely, with scores of subway stations shut after a national holiday muted by the coronavirus curbs...
Japanese warship, jets shadow Chinese Navy strike group on western Pacific combat drills
ABS-CBN News, May 6, 2022
Liu Zhen, South China Morning Post
The Chinese navy aircraft carrier Liaoning has been carrying out fighter jet combat drills in the western Pacific, with Japanese light carrier Izumo on the watch nearby...
Overweight men more likely to die from prostate cancer: study
ABS-CBN News, May 6, 2022
Agence France-Presse
Every 10 centimeters (four inches) on a man's waist increases his risk of dying from prostate cancer by seven percent, according to a new study on Thursday -- the largest ever conducted on a possible link between obesity and the disease...
NCRPO to enforce Duterte’s order stopping e-sabong
Philippine Star, May 6, 2022
Neil Jayson Servallos
The National Capital Region Police Office (NCRPO) said yesterday it would implement President Duterte’s directive to stop the operations of e-sabong...
MMDA: No coding on May 9
Philippine Star, May 6, 2022
Richmond Mercurio and Ralph Edwin Villanueva
The Metropolitan Manila Development Authority (MMDA) has suspended the number coding scheme on May 9...
Comelec sees speedy results, fewer faulty VCMs
Philippine Daily Inquirer, May 6, 2022
Christia Ramos and Dona Z. Pazzibugan
The unofficial results showing the winners of the presidential and vice presidential elections will be known just days after the May 9 polls and much sooner for the local contests, Commission on Elections (Comelec) officials said on Thursday as they wrapped up preparations for Monday’s balloting...
500 bets face disqualification
The Manila Times, May 6, 2022
William Depasupil
More than 500 candidates who are running for various posts face perpetual disqualification from seeking elective office following their failure to file their statement of contributions and expenditures or SOCE for two consecutive elections...
Holding polls a hard task in typhoon-hit areas
Philippine Daily Inquirer, May 6, 2022
Erwin M. Mascariñas and Julie S. Alipala
(First of two parts)
As people approach this town from the sea on a bright day, they can immediately notice new roofs glisten under the sun, a sign that more than 2,000 families here have rebuilt some of their homes that were ravaged by Typhoon “Odette” (international name: Rai) on Dec. 16 last year...
Comelec: Failure of election is not an option
Manila Standard, May 6, 2022
Vito Barcelo
The Commission on Elections (Comelec) assured voters Thursday that a scenario of the May 9 elections failing is “not an option” amid reports of defective vote counting machines (VCM) just four days before Monday’s polls...
MILF, military agree to peaceful polls
The Manila Times, May 6, 2022
Kristina Maralit
The Moro Islamic Liberation Front (MILF) and Armed Forces of the Philippines (AFP) signed a pledge of commitment to ensure clean, orderly and peaceful elections...
DOF: Duterte tax reform brought P575.8B more revenues in 2018-2021
Philippine Daily Inquirer, May 5, 2022
Ben O. de Vera
The Duterte administration’s comprehensive tax reform program raised additional revenues totaling P575.8 billion from 2018 to 2021, but the prolonged COVID-19 pandemic shed three times more from government collections, the Department of Finance (DOF) said...
Comelec sees overseas absentee voting turnout to surpass previous numbers
CNN Philippines, May 6, 2022
CNN Philippines Staff
The Commission on Elections (Comelec) said overseas voting turnout for this year’s elections may exceed that of 2016’s as 23% of over 1.69 million Filipino voters abroad -- or 385,437 registered voters -- have so far cast their ballots...
No palace advice on midnight posts — Comelec
BusinessWorld, May 5, 2022
John Victor D. Ordoñez, Alyssa Nicole O. Tan and Kyle Aristophere T. Atienza
The Executive branch branch had not sought the approval of the Commission on Elections (Comelec) for President Rodrigo R. Duterte’s “midnight appointments,” according to an election commissioner...
PH needs political reforms—think tank
Manila Standard, May 5, 2022
Vito Barcelo
“Decades of personalistic governance are responsible for the corrosion of political institutions in the Philippines, and unless radical structural, political and electoral reforms are pursued, we will steer toward decay, with the nation-state isolated as ever from the people it is supposed to serve.”...
Duterte declares May 9 as ‘special non-working holiday’ due to elections
Rappler, May 5, 2022
Bonz Magsambol
President Rodrigo Duterte has declared Monday, May 9, as a special non-working holiday to “enable people to properly exercise their right to vote”...
‘Poblacion girl’ faces raps over quarantine breach
Philippine Star, May 6, 2022
Neil Jayson Servallos
The Makati Prosecutor’s Office has found probable cause to charge Gwyneth Anne Chua, also known as “Poblacion girl,” for breaching mandatory quarantine protocols last December...
Nuclear energy adoption nearing reality?
Daily Tribune, May 5, 2022
Maria Romero
The Philippines might finally integrate nuclear power plants into its energy mix as presidential race frontrunner former senator Bongbong Marcos has vowed to speed up its adoption if elected to the Palace on Monday...
No disruption seen to SpaceX investment after administration steps down, DTI says
BusinessWorld, May 5, 2022
Revin Mikhael D. Ochave
Space Exploration Technologies Corp.’s (SpaceX) decision to invest in the Philippines will not be affected by the upcoming change in government, according to the Department of Trade and Industry (DTI), which noted that the entry of Elon Musk-controlled company is governed by an executive order (EO) liberalizing the industry...
House committee on energy: Philippines has enough power supply on May 9
Philippine Daily Inquirer, May 5, 2022
Angelic B. Jordan
House Energy Committee Chairman and Pampanga 2nd District Representative Juan Miguel “Mikey” Arroyo assured the public there will be enough power supply come election day on May 9...
75% of P428-B ‘Horizon 2’ of AFP upgrade completed
BusinessMirror, May 5, 2022
Rene Acosta
More than three fourths of the total 96 projects under the Horizon 2 or the second phase of the military’s modernization program have been completed, Defense Secretary Delfin Lorenzana reported on Thursday...
NTC to telcos: No repair, maintenance work on election period
Philippine Daily Inquirer, May 5, 2022
Christia Marie Ramos
The National Telecommunications Commission (NTC) has directed telecommunications companies and other concerned service providers to suspend all network repairs and maintenance works until May 14, 2022...
Truckers seek more fuel subsidies
Daily Tribune, May 6, 2022
TDT
A possible extension of fuel subsidies to hard-pressed members of the Confederation of Truckers Association of the Philippines (CTAP) has been proposed to the Department of Trade and Industry (DTI)...
BSP to review relief measures for thrift banks as economy recovers
BusinessWorld, May 6, 2022
L.W.T. Noble
The Central Bank will assess if there is still a need to extend the pandemic-driven regulatory relief measures it granted to thrift lenders as the economy recovers...
Bank lending grew faster for 8th month
Philippine Daily Inquirer, May 6, 2022
Ronnel W. Domingo
Lending activities of the Philippines’ large banks grew faster yet again for the eighth straight month as economic activities gained traction amid fewer COVID-19 cases, which enabled the easing of mobility restrictions...
M3 growth slows amid continued lending
The Manila Times, May 6, 2022
Mayvelin U. Caraballo
Money supply expanded at a slower pace in March even as bank lending picked up, data released by Bangko Sentral ng Pilipinas (BSP) on Thursday showed...
Underemployment woes lend focus to low wage rates, poor standards of living–experts
BusinessMirror, May 5, 2022
Cai Ordinario
Besides rendering millions of Pinoys jobless, the country’s underemployment woes worsened due to the pandemic, highlighting the need to reconsider wage rates and standards of living, according to economists from the De La Salle University (DLSU) School of Economics...
Stocks rise for 2nd consecutive day
Philippine Star, May 6, 2022
Richmond Mercurio
Local share prices followed Asian and Wall Street stocks higher yesterday after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the US central bank’s biggest increase in two decades...
PH banks still pumping funds to coal, other fossil fuels, says watchdog report
Philippine Daily Inquirer, May 5, 2022
Days ahead of the national elections, energy advocacy and bank watchdog group Withdraw from Coal (WFC) on Thursday raised alarm over Philippine banks that have yet to quit dirty energy from coal, and posed a challenge to the upcoming administration to put mechanisms in place to accelerate just energy transition and commit to ambitious climate goals...