Gross domestic product (GDP) quarterly performance

Source BusinessWorld

Philippine economic growth accelerated to 7.6 percent in the third quarter, the first three months of the Marcos administration, as Filipino consumers spent more dining out and on recreation following the reopening of businesses from pandemic-related lockdowns and mobility restrictions...

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The economy grew by a better-than-expected 7.6 percent in the third quarter, the Philippine Statistics Authority (PSA) reported on Thursday, all but assuring that this year's growth goal will be met...

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The country’s foreign direct investment (FDI) in August declined by 19.2 percent on an annual basis to $797 million, the Central Bank said...

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The Philippines has "passed" the worst of the surge in Covid-19 cases due to the BA.5 and the BA.4 subvariants of Omicron, an infectious disease expert said...

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President Ferdinand Marcos Jr. has instructed the House of Representatives to study the removal of value-added tax (VAT) on utilities to ease the burden of Filipinos, a leader of the House of Representatives said on Thursday...

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The House Committee on Agriculture and Food on Thursday approved a bill further extending the period of implementation of the Agricultural Competitiveness Enhancement Fund (ACEF) until 2028...

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The House Committee on Health on Thursday approved the substitute bill that seeks to create a Center for Disease Prevention and Control...

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As prices of basic commodities continue to increase, the Department of Labor and Employment (DOLE) has ordered a review for a possible minimum wage increase next year...

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The Department of Science and Technology (DOST) and the Metro Manila police have begun to tap digital applications to help reach the public safely and conveniently...

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The country’s large untapped market and promising economic growth were among the factors cited by President Ferdinand “Bongbong” R. Marcos, Jr. to attract Cambodian businesses to invest in the country...

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President Ferdinand Marcos Jr. has urged Cambodian business leaders to invest in the Philippines, citing the economy’s potential and 7.6-percent growth in the third quarter of 2022 during his trip to attend meetings of the Association of Southeast Asian Nations (Asean)...

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President Ferdinand “Bongbong” R. Marcos Jr. said the country is now eyeing to address its trade deficit with Vietnam with the return of the Philippine Trade and Investment Center (PTIC) in Ho Chi Minh City this year...

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President Ferdinand "Bongbong" Marcos Jr. said he will raise issues related to the West Philippine Sea with Chinese President Xi Jinping should there be an opportunity for them to meet while in Cambodia...

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A Filipino lawyers’ group has asked the United Nations Human Rights Council (UNHRC) to hold the government accountable for the continuing attacks against lawyers, prosecutors and judges in the Philippines...

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President Ferdinand "Bongbong" Marcos Jr. and Vietnamese Prime Minister Pham Minh Chinh on Thursday agreed to boost intelligence and strategies cooperation between the Philippines and Vietnam amid Beijing's growing control of the South China Sea...

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A Philippine team headed by its Justice chief will head to Geneva this month to discuss the country’s human rights situation before the United Nations Human Rights Council...

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Spain’s Elecnor SA is looking into solar and offshore wind development projects in the Philippines, a company official said...

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Speaker Martin G. Romualdez on Thursday called for a concerted effort among members of the Association of Southeast Asian Nations (Asean) to build a resilient, peaceful, and progressive regional community...

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United States President Joe Biden said on Wednesday (Thursday in Manila) he would ask his Chinese counterpart Xi Jinping about his "red lines" to reduce the potential for conflict after soaring tensions on Taiwan when they gather in southern Indonesia next week...

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U.S. President Joe Biden hopes to limit deterioration of ties with China when he meets Chinese leader Xi Jinping next week, but he will be honest about U.S. concerns, including over Taiwan and human rights, a senior administration official said on Thursday...

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People who have had Covid more than once are two or three times more likely to have a range of serious health problems than those who have only had it once, the first major study on the subject said Thursday...

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Carbon dioxide emissions from fossil fuels, the main driver of climate change, are on track to rise one percent in 2022 to reach an all-time high, scientists said Friday at the COP27 climate summit in Egypt...

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India can be the new outbound travel powerhouse, replacing the Chinese market on which most Asia Pacific destinations rely...

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Myanmar’s escalating violence and political gridlock are expected to dominate an ASEAN leaders’ summit on Friday, as increasingly frustrated members of the regional bloc struggle to get the country’s junta to comply with an agreed peace plan...

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United Kingdom pharmaceutical giant AstraZeneca announced on Thursday a return to third-quarter profit on increased revenue from sales of its drugs...

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Ukrainian troops pushed towards the southern strategic river port of Kherson after Moscow ordered one of the war’s biggest retreats, although officials fear Russian troops could still turn Kherson into a “city of death” as they expect it will take at least a week to withdraw...

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US consumer prices cooled in October but remained at decades-high levels, according to government data released Thursday, keeping the pressure on President Joe Biden as his Democratic party struggles to retain control of Congress...

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Asian stocks fell on Thursday after inconclusive United States midterm election results and a cryptocurrency crisis hammered markets...

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More personal details of customers of Australia’s biggest health insurer Medibank Private Ltd, hit by a massive cyber attack, were released on Friday, with the company expecting this to happen daily after it declined to pay ransom to the hacker...

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The dollar fell sharply on Thursday after U.S. consumer prices rose less than expected in October to suggest underlying inflation is cooling, data that Wall Street cheered as it may allow the Federal Reserve to get less aggressive with interest rate hikes...

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A rebound in Asian airline travel is “doing well” going into 2023 based on forward bookings, Subhas Menon, director general of the Association of Asia Pacific Airlines (AAPA), said on Thursday...

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Seafarer Jhan Kharl Rodica recently returned home to Manila after an eight-month voyage and bought a townhouse outside the city, courtesy in part, he said, of the U.S. dollar’s best year in a generation...

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The first phase of the P26-billion Wawa Bulk Water Supply Project has commenced its commercial run, bringing a vital new water source to populous Metro Manila, proponent WawaJVCo Inc. said...

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The Office of the Solicitor General (OSG) on Thursday defended the proposed allocation of P19.2 million in confidential funds to the agency, saying it would help in the fulfillment of its mandate as counsel for the government...

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The Department of Science and Technology (DOST) has assured lawmakers from the House of Representatives that the proposed Virology Institute of the Philippines (VIP) will not be privatized in the long run...

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Nine years after a US Navy ship ran aground on parts of the Tubbataha Reefs Natural Park (TRNP), and seven years after the United States had paid the Philippine government for the damage, the funds were finally released...

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The Department of Budget and Management (DBM) has approved the release of the share of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in taxes collected within the BARMM amounting to P335.815 million...

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Are life’s challenges too much to bear? Dr. Noel Reyes, medical center chief II of the National Center for Mental Health (NCMH), said it may look like that because even a child as young as 5 years old who was having difficulty with the demands of school called up the center’s crisis hotline for help, and that the kid’s parents were the ones who made the call...

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The Covid-19 pandemic has increased the number of diabetics in the country and experts urged increased government action to control this so-called silent epidemic...

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President Ferdinand "Bongbong" Marcos Jr. is eyeing to build at least one million units of low-cost housing every year as part of his administration's effort to address the backlog in the country...

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The 24-member Senate approved on Thursday the proposed P8.96-billion 2023 budget of the Office of the President (OP...

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The worst of the COVID-19 wave of infections in the Philippines brought about by the highly transmissible BA.5 and BA.4 Omicron subvariants is already over, an infectious diseases specialist said Thursday...

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Independent power producers (IPPs) believe there is more to lose if tariffs on all types of coal would remain while a permanent removal of these would see more gains to the country and not impact revenues...

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The Agricultural Competitiveness Enhancement Fund (ACEF) collected from agricultural tariffs now stands at P4.4 billion as of August, bringing to more than P15 billion the amount available for the agricultural sector next year...

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The share of national debt to the country’s output has jumped to 63.7 percent, the highest rate in 17 years, putting extra pressure on the need for more robust economic growth to help shrink ballooning obligations amid higher commodity prices and interest rates...

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The renewable energy industry needs the government to draft a plan giving offshore wind projects a clear role in decarbonizing the power industry, after the announcement of plans to form a panel that will promote investment in offshore wind farms, renewables advocates said...

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The Philippines is ready to tap battery energy storage systems (BESS) to make intermittent power sources like wind and solar suitable for servicing baseload needs, an energy-transition consultant said...

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The peso lost 20 centavos on Thursday, closing at $58.19:$1 from the previous session despite news that the economy had outperformed in the third quarter...

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The benchmark Philippine Stock Exchange index (PSEi) tumbled on Thursday as investors positioned ahead of the release of the US inflation data while looking past strong domestic earnings and third quarter gross domestic product (GDP)...

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Farmers' group Samahang Industriya ng Agrikultura president Rosendo So on Thursday urged the Department of Agriculture (DA) to intervene as the retail price of red onions nears P300 per kilo...

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Damage to agriculture and infrastructure from Severe Tropical Storm Paeng has reached more than P11 billion, the National Disaster Risk Reduction and Management Council (NDRRMC) reported Thursday...

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The Department of Labor and Employment said on Thursday that it plans to make micro, small, and medium enterprises (MSMEs) the focus of improving the quality of jobs, following the release of underemployment data earlier this week...

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