Philippines climbs to 97th out of 140 countries in WJP’s Rule of Law Index

Source BusinessWorld

Rule of law in the Philippines slightly improved this year, but remained one of the worst in the East Asia and Pacific region, according to a report by the international civil society organization World Justice Project (WJP)...

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The Philippine economy is on track to grow by 6.5 percent this year, with consumption spending and hiring seen to continue in preparation for the Christmas season despite high inflation, according to First Metro Investment Corp. (FMIC) and University of Asia and the Pacific (UA&P) Capital Markets Research...

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The national government’s budget deficit in September barely narrowed, by 0.6 percent compared to the same month of 2021, to P179.8 billion from P180.9 billion as growth in revenues outpaced that of expenses...

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The Department of Environment and Natural Resources (DENR) and the National Economic and Development Authority (Neda) and the Philippine Statistics Authority (PSA) are jointly working on a plan to establish a natural wealth accounting system for the Philippines...

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Infrastructure spending rose by an annual 4% in August as the Marcos administration ramped up the implementation of projects, the Budget department said...

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The Philippine stock market sustained its upward momentum yesterday, tracking gains in Asian shares and on Wall Street...

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Government offices could now resume entering into new contracts and disburse extraordinary funds under a new memorandum from Malacañang...

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A senate bill is seeking to consolidate and integrate all agricultural databases to improve market intelligence on where produce is in demand, thereby strengthening the farm-to-consumer value chain, including to global markets...

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The Supreme Court is finalizing the implementing rules and regulations (IRR) of the Office of the Judiciary Marshals (OJM), which will be primarily responsible for the security, safety and protection of judiciary personnel...

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A congressman on Wednesday urged the House of Representatives to prioritize the approval of a bill that seeks to designate sea lanes and air routes for continuous sailing or flight of foreign ships and aircraft....

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Parañaque City Rep. Gustavo Tambunting has filed a bill that will make it a crime for children to abandon or neglect their elderly parents who are unable to support themselves...

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The Board of Investments (BoI) is currently promoting the Philippines' amended Foreign Investment Act (FIA) with hopes of enticing more foreign investors to do business in the country...

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Malacañang on Wednesday released a circular revoking an order barring certain government agencies and instrumentalities from entering into new contracts or disbursing extraordinary funds...

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A biotech eggplant variety can now be cultivated commercially in the Philippines, which help reduce or remove the use of pesticides by farmers to combat the dreaded eggplant plant and shoot borer (EFSB)...

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Billionaire Henry Sy Jr. is launching a nationwide satellite broadband service through a pioneering venture with American tech mogul Elon Musk...

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Central banks also have a role to play in inclusive development, particularly in addressing inequality which has been worsened by the lockdowns imposed to counter the spread of the pandemic, according to the United Nations Economic and Social Commission for Asia and the Pacific (Unescap)...

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Taiwanese investments in the Philippines have exceeded mainland Chinese investments, according to the Philippine Economic Zone Authority (PEZA)...

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The Philippines will get $70 million in US assistance so it can upgrade military facilities in the next two years, according to the US ambassador in Manila...

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UN Secretary-General Antonio Guterres said Wednesday it would be "stupid" for the world to keep relying on fossil fuels, saying they triggered today's climate emergency...

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US Secretary of State Antony Blinken said Wednesday that China has rejected the longstanding status quo on Taiwan, reiterating an assessment that Beijing is speeding up its timeline to take the island...

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Facebook-parent Meta reported Wednesday that its profit more than halved to $4.4 billion in the third quarter from $9.2 billion a year earlier, and said it plans "significant changes" to bolster efficiency in a tough economic environment...

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The United States backs addressing the loss and damage suffered by developing countries due to global warming at upcoming international climate negotiations, US climate envoy John Kerry said Wednesday...

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Russian weapons being used in Ukraine are also killing people in Myanmar, an independent U.N. expert said on Wednesday, urging countries to form a coalition – just as they have on Moscow over Ukraine – to target and pressure Myanmar’s military junta...

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Saudi Arabia's energy minister on Tuesday blasted the release of emergency oil stocks as an attempt to "manipulate markets," the latest apparent salvo in a spat with Washington over oil production...

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Ukrainian troops are holding out against repeated attacks by Russian forces in two eastern towns while those at the southern front are poised to battle for the strategic Kherson region, which Russia appears to be reinforcing...

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Oil prices continued to rise in early Asian trade on Thursday after surging more than 3 percent in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar...

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The euro on Wednesday jumped back above parity with the dollar, the US currency sliding against its main rivals on concerns over the world's biggest economy and the prospect of slower interest rate hikes...

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Hot weather has become a health risk for many nations, but new data shows that almost every child on Earth will be affected by heat waves by 2050, the UN Children's Fund (Unicef) warned on Tuesday (Wednesday in Manila)...

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AstraZeneca’s Covid vaccine has been linked to a 30-percent higher risk of getting a very rare blood clotting condition compared to the Pfizer jab, a large international study said Thursday...

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Bangladesh rescue workers found the bodies of four missing crew of a dredger boat, taking the death toll from Cyclone "Sitrang" to 28 as millions remained without power, officials said Wednesday...

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Saudi Arabia’s finance minister said on Wednesday the world’s energy transition away from fossil fuels could take as much as 30 years, necessitating continued investment in conventional resources to ensure security of supply...

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Russia’s Defense Minister Sergei Shoigu on Wednesday reiterated claims that Ukraine is preparing a provocation using a “dirty bomb” in a video call with his Chinese counterpart Wei Fenghe, according to Moscow’s defense ministry...

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International climate pledges remain far off track to limit rising temperatures to 1.5 degrees Celsius (°C), according to a report released by the United Nations Wednesday, less than two weeks ahead of high-stakes negotiations to tackle global warming...

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President Ferdinand “Bongbong” R. Marcos Jr. announced on Wednesday he will task newly appointed Health Undersecretary and former Philippine National Police (PNP) chief Camilo P. Cascolan to start the groundwork for the “rightsizing” of staff in the Department of Health (DOH)...

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The Inter-Agency Investment Promotion Coordination Committee (IIPCC), integrating all the investment promotion activities of various Philippine government bodies, is set to convene its inaugural meeting on November 8, according to the Board of Investments (BOI)...

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The Department of Trade and Industry (DTI) has reassured the public that it will assist concerned government agencies in protecting consumers from unsafe goods...

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The Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Council (AMLC) said a whole-of-government approach is needed for the country’s removal from the Financial Action Task Force’s (FATF) “gray list.”...

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The number of COVID-19 cases in the National Capital Region (NCR) continued to decrease over the past week, the OCTA Research group reported yesterday...

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Chief Justice Alexander Gesmundo told reporters on Wednesday that “no decision is set in stone” when asked whether cases that had been decided with finality, such as the P203-billion estate tax liability of President Ferdinand Marcos Jr.’s family, could still be reopened...

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Health authorities appealed for caution amid the eagerness of the business and transportation sectors to relax the rules on social distancing and with the government set to further ease the mask mandate...

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To ensure the protection of students against abuse, the Department of Education (DepEd) is looking at boosting its child protection unit (CPU), which formulates policies related to children’s rights in basic education. “We would like to strengthen [it] because it’s mostly [an] advocacy at this point,” Michael Poa, spokesperson for DepEd, said at the National Children’s Month press briefing on Tuesday...

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Health professionals and lawmakers split Wednesday over the government’s decision to make the wearing of face masks voluntary even indoors, amid warnings that this could bring a new spike in COVID-19 infections...

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President Ferdinand "Bongbong" Marcos Jr. has ordered the authorities to unmask the mastermind behind the killing of broadcaster Percival "Percy Lapid" Mabasa as he expressed doubt that the inmate tagged as the middleman in the case died of natural causes...

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The country’s frozen pork inventory as of October 17 remained elevated at 101,396.57 metric tons (MT) due to higher imported stocks, latest government data showed...

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Extending assistance to women, specifically those staying at home for household duties would help give them more options to earn, according to a local economist...

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In various meetings held in Washington, D.C., USA, Bangko Sentral ng Pilipinas (BSP) Governor Felipe M. Medalla said that the BSP is focused on bringing inflation back to a target-consistent path, in line with its core mandate of price stability...

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The exit of Philippine offshore gaming operators (POGOs) will contribute to the rise of vacancy rates, especially in offices outside economic zones, but not in a sizable amount, Jones Lang Lasalle (JLL) said...

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Registered births and deaths declined 25.2% and 32.6% year on year, respectively in the seven months to July, the Philippine Statistics Authority (PSA) said on Wednesday...

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The Monetary Board is expected to raise on Nov. 17 the policy rate of the Bangko Sentral ng Pilipinas (BSP) by 0.75 percentage point (ppt) to match an expected hike by the United States Federal Reserve (US Fed), whose Open Market Committee will meet on Nov. 1 to 2...

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The government increased its infrastructure spending to P74 billion in August as the administration tries to catch up with it’s expenditure targets for the year, according to the Department of Budget and Management...

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The country’s outputs for raw and refined sugar have increased as of mid-October, according to latest figures from the Sugar Regulatory Administration (SRA), as the government continues to stabilize prices in view of huge market demand...

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The Philippines is hopeful that it can raise the country’s coconut products exports in overseas markets amid the recent decline in the trade of electronic products and other goods, citing its potential as the fastest-growing commodity group in terms of export sales...

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The government’s budget deficit eased in September to P179.8 billion from P180.9 billion a year ago as the 24.8-percent increase in revenue collection outpaced the 13.6-percent expansion in expenditures, the Bureau of the Treasury said Wednesday...

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The seafood consumption of Filipinos has declined over the years, a study showed, with poor families consuming the least...

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Friedman, Y. & Carmeli, A. (2022). CEOs Driving Decision Making Toward Higher Performance: Strategic Micro-foundations of Small-Sized Family Firms. The Journal of Applied Behavioral Science, 58 (2), 1-28. https://doi.org/10.1177/00218863211023279

Access the full article via SAGE Journals institutional login (University of the Philippines Diliman).

https://journals.sagepub.com/doi/full/10.1177/00218863211023279

Bellucci, A., Borisov, A., Gucciardi, G. & Zazzaro, A. (2022). The reallocation effects of COVID-19: Evidence from venture capital investments around the world. Journal of Banking & Finance (February 2022), 1-20. https://doi.org/10.1016/j.jbankfin.2022.106443

Access the full article via Science Direct institutional login (University of the Philippines Diliman).
https://www.sciencedirect.com/science/article/pii/S0378426622000437

Atayev, A. (2022). Uncertain product availability in search markets. Journal of Economic Theory, 204 (September 2022), 1-38. https://doi.org/10.1016/j.jet.2022.105524

Access the full article via Science Direct institutional login (University of the Philippines Diliman).

https://www.sciencedirect.com/science/article/pii/S0022053122001144

Kuvshinova, D. & Zimmermann, K (2022). The big bang: Stock market capitalization in the long run. Journal of Financial Economics, 145 (2B), 527-552. https://doi.org/10.1016/j.jfineco.2021.09.008

Access the full article via Science Direct institutional login (University of the Philippines Diliman).

https://www.sciencedirect.com/science/article/pii/S0304405X21003962