Philippines still leads regional peers in climate change performance

Source: BusinessWorld

S&P Global Ratings revised its Philippine economic growth forecast upwards to 7.1% this year, but sees slower growth in 2023 due to the impact of higher interest rates and elevated inflation...

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With China reporting nearly 40,000 cases a day, some local economists are concerned that this could again lead to trade disruptions and imperil Philippine economic recovery...

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The Philippines’ budget deficit is expected to remain wide as the Marcos administration prepares to execute a plan to bring the gap to pre-pandemic levels, according to Singapore-based DBS Bank Ltd...

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The Philippines has the potential to increase jobs in the manufacturing sector as the economy recovers from the coronavirus pandemic, the International Labour Organization (ILO) said on Monday...

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Jobs will continue to be scarce in the Asia-Pacific region that is barely recovering from the loss of 54 million jobs when COVID-19 hit in 2020, the International Labor Organization (ILO) said in its employment outlook report released on Monday...

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The Supreme Court has declared that it is the Secretary of Justice or the Solicitor General who has the authority to settle the dispute between the Department of Energy (DOE) and the Bureau of Internal Revenue (BIR) over the latter’s demand for payment of deficiency excise taxes of P18.37 billion...

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Two House panels on Monday formed a technical working group (TWG), which will draft a substitute bill for measures seeking to create the Department of Water...

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The House Committee on Government Reorganization on Monday approved the Marcos administration’s proposed National Government Rightsizing Act of 2022...

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The Energy Regulatory Commission (ERC) approved the draft Rules for the Distributed Energy Resources (DER) geared toward promoting energy quality, reliability, security, affordability and sustainability in the Philippines...

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When the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 13-2022, entitled “Income Tax Treatment of Equity-Based Compensation”, it came as a surprise to some employers, specifically those who treat the equity-based compensation of their employees as fringe benefits...

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The Energy Regulatory Commission (ERC) “chose to look the other way” when it ruled against the petition for a temporary relief to recover part of the P15 billion in losses incurred by the units of SMC Global Power Holdings Corp. (SMCGP), the power arm of conglomerate San Miguel Corp. (SMC) said Monday...

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Probinsyano Ako Rep. Rudys Caesar Fariñas I is pushing for the creation of a police force that is dedicated to ensuring the safety of all members of Congress, as well as protecting the properties of both chambers...

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Party list Rep. Bro. Eddie Villanueva has pushed anew a measure that seeks to create a Commission on Filipino Values and a Presidential Interfaith Council to preserve and instill national values, etiquette and moral uprightness among Filipinos of all ages...

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The leadership of the House of Representatives on Monday proposed the creation of Maharlika Wealth Fund, a sovereign wealth fund (SWF), to maximize the profitability of investible government assets...

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A bill granting a 13th-month pay to about 600,000 contractual and job order (JO) personnel in government has been filed in the Senate...

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With similar measures pending in Congress for years, Senator Ramon ‘Bong” Revilla Jr. now vowed to push for the passage of his bill regulating parking fees in many establishments in the country...

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A Senior Department of Foreign Affairs official is hopeful the visiting UN Special Rapporteur, who will be in the Philippines until December 9, will acknowledge the government’s efforts to fight online sexual exploitation...

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Germany and the Philippines aim to modernize the latter's jeepney fleet by 2026 to fight the effects of climate change...

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The port of Davao will soon be one of the alternative trade centers in Southeast Asia under President Ferdinand Marcos' 8-point development plan...

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The demand for tablet devices, which were selling like hotcakes at the height of the pandemic, has slowed down recently with the return of in-person classes, according to International Data Corp. (IDC)...

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Canada on Sunday (Monday in Manila) unveiled its new economic and diplomatic strategy for the Asia-Pacific region, allocating CA$2.3 billion ($1.7 billion) over the next five years to the plan aimed at mitigating risks posed by China...

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Monkeypox is to be renamed mpox, the World Health Organization announced Monday, in a bid to avoid stigmatization stemming from the existing name...

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Hawaii's Mauna Loa, the largest active volcano in the world, has erupted for the first time in nearly 40 years, US authorities said, spewing lava and ash Monday as emergency crews went on alert...

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Chinese security forces on Monday filled the streets of Beijing and Shanghai following online calls for another night of protests to demand political freedoms and an end to Covid lockdowns...

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Police have dismantled a huge drug "supercartel" that controlled a third of Europe's cocaine trade, arresting 49 people in various countries, including six chief suspects in the United Arab Emirates city of Dubai, Europol said on Monday...

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Despite decades of effort, plastic pollution is only getting worse — a gloomy fact that representatives of almost 200 nations meeting in Uruguay Monday are determined to change...

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Kyiv plans to erect Christmas trees, minus lights, throughout the battered city in a defiant display of holiday spirit as the capital area’s millions of residents suffer through blackouts due to Russian attacks, officials said...

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British Prime Minister Rishi Sunak said on Monday that the so-called “golden era” of relations with China was over, saying Beijing’s systemic challenge to Britain’s interests and values was growing more acute...

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The United States will announce new aid on Tuesday to help Ukraine restore electricity as its people faced another week of brutal cold and darkness after Russian strikes on its power grid caused rolling blackouts...

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A US push for Iran to be removed from a UN women’s equality and empowerment body will be voted on December 14, diplomats said on Monday as Washington lobbies for Tehran to be punished over its denial of women’s rights and brutal crackdown on protests...

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The rare street protests that erupted in cities across China over the weekend were a referendum against President Xi Jinping’s zero-COVID policy and the strongest public defiance during his political career, China analysts said...

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Australia's climate council has warned that the island continent is facing a disastrous summer of extreme weather events...

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IT and Business Process Association of the Philippines (IBPAP) President Jack Madrid said about 150 registered business enterprises (RBEs) under the IT and Business Process Management (IT-BPM) industry have already been endorsed to the Board of Investments (BOI) as of November 27, to adopt up to 100 percent work-from-home (WFH) arrangement...

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The Department of Energy (DoE) called on the Energy Regulatory Commission to investigate the forced outages or limited production at six power plants which caused yellow alerts, and, briefly, a red alert, to be raised over the Luzon grid on Monday...

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The proposal to change colored photographs in the Philippine Identification System ID (PhilSys ID), also known as the Philippine Identification Card (PhilID), to monochrome is "legally infirm," Justice Secretary Jesus Crispin Remulla said...

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A whole-of-government approach is key in realizing the policies and strategies of the upcoming Philippine Development Plan (PDP) 2023-2028 geared toward job creation and speeding up poverty reduction in the country, the National Economic and Development Authority (NEDA) said on Monday...

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The National Economic and Development Authority said Monday it is now nearing the completion of the Philippine Development Plan 2023-2028 and will submit it to President Ferdinand Marcos Jr. and his Cabinet in early December...

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The prevailing “culture” in the national government of agencies demanding confidential and intelligence funds (CIF) started during the martial law regime of ousted President Ferdinand Marcos Sr., and now being perpetuated by the administration of his son, opposition Sen. Risa Hontiveros said on Monday...

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All disputes, claims, and controversies, including tax assessments among executive agencies, should be submitted to administrative settlement by the Department of Justice (DOJ) or the Office of the Solicitor General, the Supreme Court said...

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The Land Transportation Office (LTO) wants to implement its proposed single ticketing system in Metro Manila in the first quarter of 2023, its chief Jose Arturo Tugade said on Tuesday...

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The Department of Budget and Management (DBM) on Tuesday said it has released P5.2 billion to cover the one-month requirement of the Targeted Cash Transfer (TCT) program of the Department of Social Welfare and Development (DSWD)...

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The Commission on Audit (COA) believes that they may resolve more than 4,000 audit backlogs in two years...

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The seven-day COVID-19 positivity rate in the National Capital Region (NCR) rose from 7.5 percent to 11.1 percent, while increases were also seen in other areas in Luzon, according to the OCTA Research Group...

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The Department of Health (DoH) on Monday gave assurances that the country's health facilities are ready for any spike in coronavirus disease infections that may be triggered by the entry of the highly transmissible Omicron BQ.1 subvariant...

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A business group has urged the government to focus instead on job creation, not wage increases, to pluck Filipinos out of poverty, a position which clashes against the stand taken by the labor sector...

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To pave the way for the development of Pag-asa Island, Surigao del Sur Rep. Johnny Pimentel has filed a bill seeking to declare and develop the 37.2-hectare island as a “recreational fishing tourism destination”...

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The Public Attorney's Office (PAO) on Monday urged the Philippine National Police (PNP) leadership to issue an order against killing a person who was already kneeling and pleading for mercy...

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The national government should empower communities through a risk-management approach against environmental vulnerabilities...

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In the wake of an accident involving a policeman accidentally firing his service firearm and killing a fellow officer in San Pablo City, Laguna, Philippine National Police (PNP) chief Gen. Rodolfo Azurin Jr. has ordered all police commanders to ensure their men are adept on gun handling...

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Quezon City Fourth District Rep. Marvin Rillo sought a congressional investigation into the "unsuccessful" National Rabies Prevention and Control Program (NRPCP), which was created by legislation 15 years ago...

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The IT and Business Process Association of the Philippines (IBPAP) said the IT and Business Process Management (IT-BPM) industry is expected to contribute nearly $32 billion worth of revenue to the Philippine economy in 2022, a sum that it said will surpass the industry’s 8-percent contribution to the country’s gross domestic product (GDP)...

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The Department of Trade and Industry (DTI) said prices of 55 stock keeping units (SKUs) including canned sardines, coffee, bread, milk, and canned meat, might increase...

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The wholesale prices of goods picked up at a faster rate in September from the previous month, with chemicals and food posting the biggest increases, the Philippine Statistics Authority (PSA) said...

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The country’s inventory of rice and corn surged in October as imports plus the latest harvests bumped up supply...

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The retail prices of eggs are on a "historic" high because the supply has been affected by the bird flu outbreak, the Philippine Egg Board Association said on Monday...

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Oil companies again slashed their pump prices on Tuesday, November 29...

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The government managed to raise only P35.47 billion, less than 50 percent of the expected proceeds from the sale of government securities in November, as investors continue to demand high yields amid monetary tightening here and abroad...

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A businessman from Mindanao said he lost over P5 million to a group of people who offered him a cut of P700 million from the sale of over P17-trillion worth of “Marcoses’ gold” allegedly being kept inside the Bangko Sentral ng Pilipinas (BSP)...

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Optimism continued to prevail in the stock market yesterday...

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