Philippines ranks 12th in 30-economy Sustainable Trade Index

Source BusinessWorld

The unemployment rate in September dropped to a new low since the start of the coronavirus pandemic, but job quality continued to worsen, the Philippine Statistics Authority (PSA) said on Tuesday...

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The PSA said the September Volume of Production Index (VoPI) was the slowest since June 2022 when it posted growth of only 0.2 percent. The VoPI was at 4.4 percent in August and 124.3 percent in September 2021...

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Pediatricians urged parents to strongly recommend the wearing of masks for their children to prevent them from getting infected with Covid-19 in classrooms...

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The Department of Labor and Employment (DOLE) has ordered the regional wage boards to review whether another round of increase for the country’s 4 million minimum wage earners could be imposed next year to cushion the impact of soaring prices of food and other basic commodities...

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The Energy Regulatory Commission (ERC) has directed the National Grid Corporation of the Philippines (NGCP) to pay a penalty of P5.1 million for not complying with the circular of the Department of Energy (DOE) requiring procurement of ancillary services (AS) or power reserves...

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THE Department of Agriculture-Bureau of Animal Industry (DA-BAI) on Tuesday issued guidelines allowing the importation of processed animal proteins (PAPs) from countries affected with African swine fever (ASF) for aquatic feed use, sparking protests from local producers...

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The House of Representatives on Tuesday approved on second reading three priority tax measures topped by Package 4 of the Comprehensive Tax Reform Program (CTRP). The two others are the bill placing under VAT coverage the non-resident digital service providers and one imposing taxes on disposable plastic bags, which could yield a total of P48 billion annually...

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With government spending constituting almost a quarter of the Philippine national economy and likely to increase in the coming years, the House Committee on Sustainable Development Goals approved on Tuesday a bill establishing a Green Public Procurement Program for all branches of government...

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The House of Representative on Tuesday approved on second reading three priority tax measures, which seek to remove the tax exemption on pickup trucks and impose taxes on foreign digital services and single-use plastic bags...

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The House of Representatives has approved on third and final reading a measure that will pave the way for the inclusion of the National Building Code as a major subject in engineering, architecture and other related courses...

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The House of Representatives led by Speaker Martin Romualdez on Monday night approved on third and final reading 11 national and local bills that seek to promote the safety of private and public buildings and infrastructure, protect the environment, and boost tourism in the country...

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The Philippine Economic Zone Authority (PEZA) said it has recorded seven investment pledges amounting to $65 million during its investment mission in Taiwan...

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Small island nations led calls at the UN climate summit Tuesday to tax oil companies' windfall profits to pay for damages caused by natural disasters and enact a "non-proliferation treaty" to halt fossil fuel production...

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Global stock markets mostly moved higher on Tuesday as Americans headed to the polls in critical midterm elections...

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A senator on Tuesday filed a resolution seeking to investigate how the government could improve maritime training and education after 50,000 Filipino seafarers in European Union (EU)-flagged vessels almost lost their jobs...

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If nothing is done, heatwaves could lead to the deaths of 90,000 Europeans each year by the end of the century, the European Environment Agency said...

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China's foreign minister called for the "rebuilding of mutual trust" in a phone conversation with his Australian counterpart Tuesday, Beijing said, in a sign of easing tensions after years of difficult ties between the countries...

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SPAIN's ambassador to the Philippines believes that the Philippines has "strong economic fundamentals."...

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Nine countries including Britain, Germany, the United States and Japan joined an international alliance Tuesday at the UN COP27 climate summit, to encourage the development of offshore wind power...

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Investors are expecting Republican gains in U.S. midterm elections, a result that will likely scale back Democratic spending and regulation but set up a bruising fight over raising the U.S. debt ceiling next year...

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Malaysia’s economy grew in double digits for the first time in over a year in the third quarter, boosted by strong domestic consumption and robust exports, according to a Reuters poll, but the outlook ahead was clouded by risks of a global slowdown...

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Wall Street ended higher on Tuesday during voting in midterm elections that will determine control of the U.S. Congress, with investors betting on a political stalemate that could prevent major policy changes...

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The family of jailed Egyptian-British hunger striker Alaa Abd el-Fattah said on Tuesday they had not heard from him since he had been due to stop drinking water two days ago, and the United Nations human rights chief warned his life was in great danger...

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Sen. Juan Edgardo Angara, chairman of the Senate Finance panel, on Tuesday sponsored in plenary the P5.268-trillion national budget for 2023, which he said had considered the usual budget priorities plus new risks from global and local headwinds despite the huge fiscal challenge...

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The resumption of face-to-face (F-to-F) classes and increased mobility among the youth could threaten the gains in preventing adolescent pregnancy during the pandemic, according to the Commission on Population and Development (Popcom)...

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The Department of Budget and Management (DBM) said funding releases at the end of October amounted to P5.08 trillion, exceeding the P5.024-trillion budget for 2022, with P200.19 billion in unprogrammed appropriations and P45.29 billion in other automatic appropriations helping drive spending over the limit...

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President Ferdinand R. Marcos, Jr. on Tuesday said he would put the local disaster agency under his office to streamline the government’s calamity response...

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In anticipation of a surge in traffic volume during the Christmas season, mall operations in Metro Manila will be adjusted, the Metropolitan Manila Development Authority (MMDA) announced yesterday...

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The Department of Health (DOH) yesterday reported an increase in the number of measles cases nationwide by almost 200 percent...

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The city government of San Juan launched over the weekend the “Kuha sa Tingi” project, which seeks to address plastic pollution...

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President Ferdinand Marcos Jr. on Tuesday expressed optimism that the newly acquired ground-based air defense system (GBADS) and a C-295 medium lift aircraft will help the Philippine Air Force (PAF) boost\ its capabilities in protecting Philippine territories...

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With the extractive industries contributing billions to government coffers, the current administration is bent on turning it into a major growth driver of the economy in the medium term, Finance Secretary Benjamin Diokno said on Tuesday...

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Regional wage boards are studying the possibility of a new round of pay hike amid soaring inflation, according to the Department of Labor and Employment (DOLE)...

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The Department of Labor and Employment (DOLE) has pledged support to the initiative of Presidential Commission for the Urban Poor (PCUP) commissioner in-charge for the National Capital Region (NCR) Reynaldo Galupo that seeks to augment the PCUP’s work force in the fulfillment of its mandate of serving the country’s marginalized and underprivileged sectors, particularly the urban poor...

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Bad debts held by big banks declined for a seventh straight month in September, bringing the nonperforming loan (NPL) ratio to its lowest in 25 months as the economy continued to reopen...

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The net earnings of the banking industry climbed by 43% as of September, driven by higher trading gains and interest income, according to central bank data...

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The country's palay (unmilled rice) and corn production for the third quarter of 2022 has been revised downward based on the standing crop as of Sept. 1, 2022, the Philippine Statistics Authority (PSA) said on Tuesday...

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The country’s factory output grew at a slower pace in September from the previous month and year amid sustained high inflation...

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