Philippines slips in Human Development Index

Source BusinessWorld

The Philippines will weather global headwinds such as the specter of recession in Europe as the country will rely on its own people and industries, according to the National Economic and Development Authority (Neda) and local economists...

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The Philippines slipped three notches in the Human Development Index (HDI), falling behind its ASEAN-5 peers, according to the latest report from the United Nations Development Program (UNDP)...

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An economist said local authorities "have already signaled" that they do not want further weakness in the Philippine peso exchange rate versus the United States dollar...

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The National Government saw its debt service bill more than double in July from a year ago, as amortization payments surged...

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The Proposed new revisions to the implementing rules and regulations (IRR) of the Build-Operate-Transfer (BOT) Law may give private sector proponents more leeway in imposing higher fees and charges to the detriment of consumers, a public investment analyst said...

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The Philippines’ investment-grade credit rating could be at risk as the government’s international reserves (GIR), along with those of other economies in Asia-Pacific, have been shrinking over the past several months while the US dollar gained its strongest position against other currencies, at an extent not seen in recent decades...

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The number of Filipino families who experienced involuntary hunger – or being hungry due to lack of food to eat – went down from 3.1 million in the first quarter of 2022 to 2.9 million in the second quarter, according to a recent Social Weather Stations (SWS) survey...

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There is a slow uptick in COVID-19 cases in Metro Manila, according to independent pandemic monitor OCTA Research, which noted increases in the reproduction number and positivity rate...

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Litigants may soon experience faster and cheaper litigation as the Supreme Court (SC) disclosed that the rules on the continuous adoption of videoconferencing for court hearings are now being ironed out...

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Amid oil price hikes triggering skyrocketing cost of basic commodities, the Marcos administration was asked to increase economic relief allowance to government workers as Senator Jose Pimentel “Jinggoy” E. Estrada sought to mitigate the impact of soaring oil and price increases...

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The House Committee on Ways and Means will consider the proposals of the Department of Health to raise excise tax rates on so-called “sin” products, including sweetened beverages, cigarettes, alcohol and novel tobacco products like “vape.”...

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Parañaque City Rep. Gus Tambunting wants all public officials and workers to submit medical certificates every year to show they are fit to work...

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Negros Occidental Gov. Eugenio Jose Lacson has made the wearing of face masks optional in outdoor spaces, following in the footsteps of Cebu province, which defied a national mask mandate to guard against the spread of COVID-19, Cebu City, and neighboring Iloilo province...

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The Professional Regulation Commission has suspended its policy which tags teachers and professionals with pending administrative cases–including those stemming from complaints from loan firms – and prevents them from renewing their PRC licenses...

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Two House lawmakers are seeking the abolition of two agencies, including the Presidential Commission on Good Government (PCGG), and an office of the Department of Budget and Management (DBM) supposedly in line with government efforts at rightsizing the bureaucracy...

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Heeding the call of nurses’ groups to increase the entry-level pay of nurses to keep them from going abroad, the Makabayan bloc in the House of Representatives has filed a bill seeking to set a minimum monthly salary of P50,000 for nurses in government and private hospitals...

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The export of raw sugar to the United States is not a priority right now as the country continues to reel from tight supply of sugar, the Philippine Sugar Millers Association (PSMA) said...

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President Ferdinand R. “Bongbong” Marcos Jr.’s strong stance on the still-raging territorial issue with China, that he will not preside over a process that will abandon even an inch of the country’s territorial domain, has been clearly well received and understood abroad, especially by like-minded states from the West...

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Alexandra “Alex” Maniego Eala made history for Philippine tennis as she won the 2022 US Open Girls’ singles title on Saturday (early Sunday in Manila) following a 6-2, 6-4 upset win over no. 2 seed Lucie Havlickova...

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President Ferdinand R. “Bongbong” Marcos Jr.’s strong stance on the still-raging territorial issue with China, that he will not preside over a process that will abandon even an inch of the country’s territorial domain, has been clearly well received and understood abroad, especially by like-minded states from the West...

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The incursion of Chinese vessels into Philippine waters has remained unabated, with the government already filing 48 diplomatic protests against Beijing over the aggressive behavior of its ships in the West Philippine Sea since President Ferdinand Marcos Jr. took office in June, according to the Department of Foreign Affairs...

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The Bangko Sentral ng Pilipinas (BSP) announced that it has inked a partnership with the National Bank of Kyrgyz Republic (NBKR) to strengthen bilateral relations...

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The International Criminal Court (ICC) should resume its investigation of the Philippine government’s deadly drug war, political experts said at the weekend...

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Political analysts at the weekend backed a senator’s proposal to limit talks on a proposed code of conduct in the South China Sea to claimant countries...

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The United States and a group of Asian allies on Friday agreed on a set of negotiating targets, notably on trade and supply chains, as Washington looks to offer an alternative to the economic might of China in the region...

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Senior officials from the Asia-Pacific Economic Cooperation (APEC) economies wrapped up a meeting on Saturday, during which they focused on efforts to promote the recovery of the region's micro, small and medium enterprises (MSMEs)...

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Ukrainian forces kept pushing north in the Kharkiv region and advancing to its south and east, Ukraine’s army chief said on Sunday, a day after their rapid surge forward drove Russia to abandon its main bastion in the area...

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The earth is at risk of triggering multiple climate tipping points if global temperatures continue to rise beyond 1.5 degrees Celsius above pre-industrial levels, according to a sobering new analysis that underscored the urgent need to decarbonize the planet to limit the risk of crossing dangerous levels...

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Ukrainian officials say the targets of the retaliatory attacks included water facilities and a thermal power station in Kharkiv, and that they caused widespread blackouts...

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The United States on Saturday announced $40 million in aid to buy fertilizer and other key agricultural inputs in time for the next cultivation season in crisis-hit Sri Lanka...

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The Biden administration plans next month to broaden curbs on U.S shipments to China of semiconductors used for artificial intelligence and chipmaking tools, several people familiar with the matter said...

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Queen Elizabeth‘s coffin arrived in Edinburgh on Sunday after a six-hour journey from her summer home in the Scottish Highlands, past tens of thousands of mourners lining the route, many in sombre silence, some applauding and others in tears...

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King Charles III has been formally proclaimed the monarch in Scotland, Wales and Northern Ireland...

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Billions of banknotes and coins around the world featuring the portrait of Queen Elizabeth II are set to be replaced following her death...

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Financial literacy and economic development go hand in hand. This is especially true for emerging countries such as the Philippines. Financial literacy is integral to ensuring the sustainability of an economy in the future. With various market forces affecting global and regional economies...

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The vice chairman of the Senate Committee on Energy proposed a meeting among the executive and legislative branches of the Marcos administration to carry out the necessary laws for nuclear power in the country...

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The Senate will augment the budget of the Philippine General Hospital (PGH), whose funding was slashed by P893 million in the government’s proposed spending program for 2023 despite the continuing pandemic, Sen. Juan Edgardo Angara said on Sunday...

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The Commission on Elections (Comelec) on Sunday urged lawmakers to pass a law that would clearly define who can be considered a nuisance candidate or not even as it agreed with the Supreme Court that election is not a popularity contest...

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The Metropolitan Manila Development Authority (MMDA) has requested the Land Transportation Office (LTO) to temporarily lift the tagging and alarm of vehicles apprehended under the No Contact Apprehension Policy (NCAP), which was stopped by the Supreme Court last month...

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The Information Technology and Business Process Association of the Philippines (IBPAP) warned that many employees of IT and business process management (IT-BPM) firms may leave their jobs if the government pushes for a return to 100% on-site work...

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The Commission on Higher Education (CHEd) said it would not be able to accommodate the request of a new batch of students seeking financial assistance under one of its programs after it failed to secure additional funding under the 2023 budget...

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The Senate is hoping to pass its 2023 budget bill by mid-December, according to the senator who chairs the upper chamber’s Finance Committee...

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The Department of Budget and Management (DBM) said Friday that P4.85 trillion, or 96.5% of the 2022 budget has been released to national agencies and local government units (LGUs) as of the end of August...

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A congressman at the weekend said the government should resume building school libraries to improve reading comprehension among students...

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The Philippine Stock Exchange Inc. is encouraging more companies to join its Listing Engagement and Assistance Program...

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Over 100 Filipino doctors and operating room nurses conducted simultaneous surgical procedures nationwide to reduce a backlog of surgeries due to the COVID-19 pandemic...

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The Department of Health (DOH) is pushing for additional taxes on junk food and sweetened beverages, as it seeks to address obesity in the country and boost revenues for the universal healthcare program...

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The Department of Social Welfare and Development (DSWD) on Saturday said only around 400,000 students may receive educational cash assistance for now, out of the two million who had applied...

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Former Agriculture secretary William Dar on Saturday said the ongoing investigation on the questionable purchase of P1.737 billion farm tractors be allowed to continue but neither confirmed nor denied that he issued a memorandum opposing it...

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The Court of Appeals (CA) admonished the Philippine Amusement and Gaming Corp. (Pagcor) and Tiger Resort Asia Ltd. (TRAL) for interfering in the Okada Manila casino resort case...

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The Department of Social Welfare and Development has terminated its online registration for its educational assistance program for indigent students after the number of applicants has already reached 2 million...

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The Armed Forces of the Philippines’ modernization program (AFPMP) is assured to receive another P40 billion in fresh funding for the military’s capability-building procurement projects, according to Surigao del Sur Rep. Johnny Pimentel...

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The P58-billion proposed condonation on the monthly amortizations of agrarian reform beneficiaries will not affect the country’s gross domestic product, according to the Department of Agrarian Reform...

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Sources outside the Philippines may be behind several personalized text scams or unsolicited text messages received by local subscribers, the Department of Information and Communications Technology (DICT) said Sunday...

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Eight in 10 consumers say that inflation and the rising cost of living are their top economic concerns, according to global professional services firm Accenture’s 2022 Consumer Pulse Survey...

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The country’s salt imports in the first half rose year-on-year by 10 percent to $14.176 million from last year’s $12.903 million, latest government data showed...

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Philippine shares may see volatile trading this week as the peso remains weak against the dollar amid lingering recession fears as global central banks continue to raise rates to combat inflation...

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Filipino families that went hungry in the last three months of the Duterte administration fell to 11.6% from 12.2% a year earlier, according to a poll by the Social Weather Stations (SWS)...

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Headwinds are starting to manifest in the country’s trade as exports unexpectedly contract as mainstay electronics shipments slide...

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Policymakers will pursue a robust post -pandemic economy for faster, greener, and more inclusive growth, Department of Finance Secretary Benjamin Diokno said...

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The Philippine Stock Exchange index (PSEi) gained last week following the relatively stronger local economic data, such as the local unemployment rate, which was the lowest since the pandemic started at 5.2 percent or since October 2019 when it posted a record low of 4.5 percent...

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The IT & Business Process Association of the Philippines Inc. (IBPAP) on Saturday welcomed the announcement from the Department of Finance to extend until further notice the work-from-home (WFH) arrangement policy earlier agreed with the government...

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Oil companies are expected to roll back the pump prices of fuel next week. “Diesel should go down by P1.20 to P1.40 per liter. Gasoline should go down by P0.40 to P0.50 per liter,” said Unioil in its advisory...

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The Department of Transportation (DoTr) on Friday said it would privatize the EDSA Carousel and the commuter rail systems to help address the busway's woes...

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The Department of Trade and Industry (DTI) will launch a text blasting facility to spread information needed by consumers such as suggested retail prices and advisories...

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The head of the Financial Executives Institute of the Philippines (Finex) said the group is upbeat on the country's investment outlook under the Marcos administration...

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The Philippines posted an all-time high trade deficit of $5.93 billion in July due to a surge of imports that outpaced exports, according to the Philippine Statistics Authority (PSA)...

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