September 21, 2022
Philippines' Total Debt Slows in Q2 2022
Source : BusinessWorld
PH is 'next big thing in Asia'
The Manila Times, September 21, 2022
Catherine S. Valente
The country's business group believes that the Philippines is "the next big thing in Asia," assuring American investors that the Philippine economy has a "massive" potential under the "inclusive and collaborative leadership" of President Ferdinand "Bongbong" Marcos Jr...
Slower Q3 GDP growth seen
The Manila Times, September 21, 2022
Tiziana Celine Piatos
Gross domestic product (GDP) growth for the Philippines in the third quarter this year is seen slowing down to the 5.9-percent to 6.6-percent range...
PH franchise sector value hits P605 billion, aims top 5 global ranking
Manila Bulletin, September 20, 2022
Bernie Cahiles-Magkilat
The Philippine franchise industry has an aggregate value of P605 billion, contributing 7.8 percent to the country’s gross domestic product, boosting the industry’s goal to land in the five largest franchise markets globally in five years amid strong interest among enterprises to grow via franchising...
PH to be ‘moderately prosperous’ by 2040 – Marcos
Philippine Daily Inquirer, September 21, 2022
Daphne Galvez
The Philippines may be a “moderately prosperous” country by 2040, President Ferdinand “Bongbong” Marcos said on Tuesday (Wednesday Manila time) in his 20-minute statement before the 77th session of the United Nations (UN) General Assembly...
PH 'on track' to reach upper middle-income status by 2023 — Marcos
CNN Philippines, September 21, 2022
CNN Philippines Staff
President Ferdinand "Bongbong" Marcos Jr. expressed confidence about the Philippines achieving its goal of becoming an upper middle-income economy by 2023...
Gov’t plans to ease pandemic border controls
Philippine Daily Inquirer, September 21, 2022
Kathleen de Villa
The government’s pandemic task force is set to discuss by next month further easing of COVID-19 policies, this time on border controls, in response to the President’s order to further open the economy...
Timely passage of 2023 budget to help PHL gov’t achieve economic goals
BusinessWorld, September 21, 2022
The timely passage of the proposed 2023 national budget will help ensure the fulfillment of the administration’s socioeconomic agenda, leaders of the House of Representatives said as they began plenary debates on the spending plan on Tuesday...
Peso loses more ground vs US$, sinks to new low
Philippine Daily Inquirer, September 21, 2022
Ronnel W. Domingo
The Philippine peso closed spot trading at 57.48:$1 on Sept. 20, a new all-time low for the seventh time in 13 trading days as policy meetings of monetary authorities here and in the United States draw near...
DOF welcomes Moody’s fresh rating action
Manila Bulletin, September 20, 2022
Chino S. Leyco
The Department of Finance (DOF) said the Marcos administration is committed to fiscal prudence to fund government programs and meet its obligations with creditors...
DBM lauds Congress support for admin's fiscal framework
The Manila Times, September 21, 2022
Tiziana Celine Piatos
The Department of Budget and Management (DBM) on Tuesday hailed the Senate and House of Representatives for supporting the administration's Medium-Term Fiscal Framework (MTFF)...
Bill resetting village, SK polls approved
The Manila Times, September 21, 2022
Ma. Reina Leanne Tolentino
The House of Representatives on Tuesday approved on third and final reading House Bill 4673, which seeks to defer the December 2022 barangay (village) and Sangguniang Kabataan (SK or Youth Council) elections...
LTFRB to PUV drivers: No fare hike until Oct. 3
Philippine Daily Inquirer, September 21, 2022
Dempsey Reyes
The Land Transportation and Franchising Regulatory Board (LTFRB) on Tuesday warned public utility vehicle (PUV) drivers against imposing the approved fare hikes earlier than Oct. 3...
DepEd asked to issue air ventilation guidelines
Philippine Daily Inquirer, September 21, 2022
Jane Bautista
A coalition of education, social welfare, and transportation groups called on the Department of Education (DepEd) to issue clear ventilation guidelines for the conduct of in-person classes on Nov. 2...
2023 GAB to create jobs, cut poverty–sponsors
BussinessMirror, September 21, 2022
Jovee Marie Dela Cruz
As the plenary deliberations on the proposed P5.268-trillion national budget for 2023 started, sponsors of the 2023 General Appropriations Bill on Tuesday said next year’s budget is the first step in fulfilling the visions of the Medium Term Fiscal Framework (MTFF) to create more jobs and reduce poverty...
Bill providing mandatory guidelines for LUCs hurdles House panels
Manila Bulletin, September 20, 2022
Raymund Antonio
A House bill (HB) creating governance standards for local universities and colleges or LUCs has hurdled the committee level...
MTRCB says it needs to ‘widen’ its jurisdiction of video streaming
Manila Standard, September 20, 2022
The Movie and Television Review and Classification Board (MTRCB) is eyeing to “widen” and update its jurisdiction to cover popular international video streaming services, including Netflix and Amazon...
BI gets tougher on Cambodia, Vietnam arrivals
Manila Standard, September 20, 2022
Vito Barcelo
Bureau of Immigration (BI) Commissioner Norman Tansingco has ordered BI personnel detailed at the Ninoy Aquino International Airport and all international airports in the country to tighten their screening of foreigners from Cambodia and Vietnam...
CA issues decision written in Filipino
Manila Bulletin, September 20, 2022
Rey Panaligan
The Court of Appeals (CA) promulgated last Sept. 15 a decision in a criminal case that was written in Filipino, not in English which is traditionally used in court proceedings and in the issuance of orders and rulings...
Congress hears proposals for DUs, co-ops to invest in RE
BusinessWorld, September 20, 2022
The House Committee on Energy heard proposals to incentivize distribution utilities (DUs) and electric cooperatives (ECs) to invest in renewable energy (RE) as a means of bringing down electricity prices...
BSP amends rules on digital banks
Manila Bulletin, September 20, 2022
Lee C. Chipongian
The Bangko Sentral ng Pilipinas (BSP) has approved changes in the establishment of digital banks and clarified prudential requirements, licensing and documentation...
Marcos launches PH bid to UN Security Council
The Manila Times, September 21, 2022
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. urged the member states of the United Nations (UN) to support the Philippines' bid to the UN Security Council for the term 2027-2028...
Marcos to UNGA: Maintain 'rules-based international order' to solve disputes
The Manila Times, September 21, 2022
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. urged on Tuesday (Wednesday in Manila) all United Nations (UN) Member States to adhere to the principle of "rules-based international order" to solve disputes as he reiterated his foreign policy that Philippines "shall continue to be a friend to all and an enemy of none."...
Marcos asks for world cooperation to boost PH’s food security
Philippine Daily Inquirer, September 21, 2022
Daphne Galvez
President Ferdinand “Bongbong” Marcos Jr. asked for the support of world leaders in investing in the Philippines’ agricultural production and food security...
Marcos at NYSE: Can’t see PH future without US
Philippine Daily Inquirer, September 21, 2022
Dona Z. Pazzibugan
President Ferdinand Marcos Jr. has invited American investors to do more business in the Philippines, giving his strongest commitment yet to the country’s long-standing alliance with the United States and indicating a major foreign policy shift after the pivot to China and Russia of his predecessor, former President Rodrigo Duterte...
PH will keep ‘friendly’ foreign policy – Marcos at UN General Assembly
Philippine Daily Inquirer, September 21, 2022
Daphne Galvez
The Philippines will retain its “friendly” foreign policy, President Ferdinand Marcos Jr. said in his world debut at the 77th session of the United Nations General Assembly on Tuesday (Wednesday in Manila)...
Those who need to do more vs climate change ‘must act now’ – Marcos
Philippine Daily Inquirer, September 21, 2022
Daphne Galvez
Addressing the 77th session of the United Nations General Assembly on Tuesday (Wednesday Manila time), President Ferdinand “Bongbong” Marcos Jr. called on all nations to take their share of responsibility in fighting the effects of climate change...
Marcos in talks with US nuclear firm
The Manila Times, September 21, 2022
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. on Monday (Tuesday in Manila) met with top executives of US-based NUscale Power, signaling his determination to bring nuclear power to the Philippines...
Canada keen on PH infrastructure, clean energy sectors
Philippine Daily Inquirer, September 21, 2022
Canada is taking an active interest in the country’s infrastructure and energy sectors, focusing on these industries in its latest efforts to strengthen bilateral and trade ties with the Philippines...
PH reaffirms ties with S. Korea, Norway
Manila Standard, September 20, 2022
Rey E. Requejo
Foreign Affairs Secretary Enrique Manalo will meet with his counterparts in New York at the sidelines of the 77th session of the United Nations General Assembly to boost the Philippines’ international diplomatic relations...
Philippines still instant noodle country, Kantar study shows
Philippine Daily Inquirer, September 21, 2022
Alden M. Monzon
Instant noodle brand Lucky Me has emerged as the most chosen brand among cheap, fast-selling consumer goods in the Philippines over the past 10 years, highlighting its place in the diet of a country of more than 110 million people...
Polluters must pay, says UN chief, urges taxes to help climate victims
Rappler, September 21, 2022
Reuters
UN chief Antonio Guterres on Tuesday, September 20, urged rich countries to tax windfall profits of fossil fuel companies and use that money to help countries harmed by the climate crisis and people who are struggling with rising food and energy prices...
'Ukraine war, Covid, climate hurt world's poor'
The Manila Times, September 21, 2022
Associated Press
Russia's invasion of Ukraine, the lingering coronavirus pandemic and the damage of climate change are putting intense pressure on the world's poorest, the Organization for Economic Cooperation and Development (OECD) warned on Monday (Tuesday in Manila)...
Rate hikes, Ukraine war, China woes dim Asia growth outlook – ADB
Philippine Daily Inquirer, September 21, 2022
Enrico Dela Cruz
The Asian Development Bank (ADB) on Wednesday cut its growth forecasts for developing Asia for 2022 and 2023 amid mounting risks from increased central bank monetary tightening, the fallout from the war in Ukraine and COVID-19 lockdowns in China...
Pilot countries sought for underwater noise project
The Manila Times, September 21, 2022
Yashika F. Torib
The International Maritime Organization (IMO) is seeking Lead Pilot Countries (LPCs) to participate in the GloNoise Partnership project which aims to address the issue of underwater noise from shipping...
World leaders call for urgent action on food security
Philippine Star, September 21, 2022
Amélie Bottolier-Depois, Agence France-Press
World leaders called Tuesday for urgent efforts to address global food insecurity, with fears mounting of a disastrous harvest next year due largely to the war in Ukraine...
G20 economies slow pace of decarbonization, PwC study shows
Philippine Daily Inquirer, September 21, 2022
Reuters
Decarbonization rates in the Group of Twenty (G20) economies slumped to their lowest level in two decades last year, consulting firm PwC said, falling short of what is needed to reach the world’s climate goal...
Ukraine calls for bespoke IMF and World Bank programs
Philippine Daily Inquirer, September 21, 2022
Reuters
Ukraine will push for unprecedented and bespoke International Monetary Fund and World Bank packages worth tens of billions of dollars in the coming weeks to shore up its war-ravaged finances, the country’s top debt management chief told Reuters...
Global stocks drop amid interest rate fears
Philippine Star, September 21, 2022
Agence France-Presse
Stocks retreated Tuesday as investors awaited an announcement by the US Federal Reserve on its next interest rate hike, with an increase also expected this week from the Bank of England, as both countries aim to tackle soaring inflation...
The world is in great peril, UN chief warns
The Manila Times, September 21, 2022
Associated Press
Warning that the world is in "great peril," the head of the United Nations said leaders meeting in person for the first time in three years must tackle conflicts and climate catastrophes, increasing poverty and inequality and address divisions among major powers that have gotten worse since Russia invaded Ukraine...
China should do more to help avoid debt crisis: US official
ABS-CBN News, September 21, 2022
Agence France-Presse
The "enormous scale" of Chinese lending to developing nations makes it critical Beijing do more to participate in restructurings to avoid a new international debt crisis, a senior US Treasury official said Tuesday...
Global Fund gets powerful help with $18 billion funding goal
The Manila Times, September 20, 2022
Associated Press
The Global Fund to Fight AIDS, Tuberculosis and Malaria will get some high-powered help this week to reach its $18 billion goal to fund another three years to slow the spread of these diseases...
One person dying of hunger every four seconds: NGOs
Daily Tribune, September 21, 2022
Agence France-Presse
One person is estimated to be dying of hunger every four seconds, over 200 NGOs warned Tuesday, urging decisive international action to “end the spiraling global hunger crisis”...
Ukraine conflict may hike long-term grain prices 7% — study
Manila Standard, September 20, 2022
Agence France-Presse
Russia’s invasion of Ukraine may cause long-term grain prices to rise seven percent, according to a study on Monday showing how expanded production elsewhere to compensate would lead to higher greenhouse gas emissions...
Putin blasts US attempts to preserve global domination
The Manila Times, September 20, 2022
Associated Press
Russian President Vladimir Putin on Tuesday blasted what he described as US efforts to preserve its global domination, saying they are doomed to fail...
Coal rush! Energy crisis fires global hunt for polluting fuel
Philippine Daily Inquirer, September 20, 2022
Reuters
The sleepy Tanzanian port of Mtwara mainly dealt in cashew nuts until late last year. Now it bustles with vessels loading up with coal, as Russia’s invasion of Ukraine drives a worldwide race for the polluting fuel...
EU countries draft text asking UN rights council to monitor Russia
Philippine Star, September 21, 2022
Nina Larson, Agence France-Presse
Most EU countries presented a draft resolution Tuesday asking the UN to appoint an expert to monitor the rights situation inside Russia, as Moscow slammed the initiative as "politically biased"...
US and Canadian warships sail through Taiwan Strait after Biden vows to defend island
CNN Philippines, September 21, 2022
Brad Lendon, Ellie Kaufman and Barbara Starr, CNN
US and Canadian warships sailed through the Taiwan Strait on Tuesday following weekend remarks from President Joe Biden that the US would defend Taiwan in the event it is attacked by China...
Tax fossil fuel companies ‘feasting’ on profits as ‘planet burns’ and power bills soar, UN chief urges
CNN Philippines, September 21, 2022
Angela Dewan, CNN Business
Rich economies should hit oil and gas companies with new windfall taxes to provide help for countries suffering from climate change, and people struggling with soaring energy and food bills, UN Secretary General António Guterres said Tuesday...
UK PM vows billions for Kyiv war chest
Daily Tribune, September 21, 2022
Agence France-Presse
United Kingdom’s new Prime Minister Liz Truss on Tuesday vowed billions more in financial and military aid to Ukraine as she kicked off her debut foreign trip at the United Nations General Assembly...
No budget, workers for national government data center – DICT
Philippine Daily Inquirer, September 21, 2022
Christian Paul Dela Cruz
A lack of budget and workers has held back the Department of Information and Communications Technology (DICT) from establishing a consolidated government data center...
Masungi foundation seeks Palace intervention
Philippine Daily Inquirer, September 21, 2022
Dempsey Reyes
The Masungi Georeserve Foundation has asked Malacañang to intervene in the ongoing controversy at the protected area amid what they called were “dismissive” responses from the Department of Environment and Natural Resources (DENR) and the Philippine National Police...
Remulla sees POGO shutdowns sparking ‘humanitarian crisis’
Philippine Daily Inquirer, September 21, 2022
Marlon Ramos
The closure of Philippine offshore gaming operators (Pogos) may result in a “humanitarian crisis” as China has made it hard for its citizens to return to their country after working in online gambling companies in the Philippines, Justice Secretary Jesus Crispin Remulla warned on Tuesday...
Pimentel: Kin of martial law victims, survivors deserve explanation
Philippine Daily Inquirer, September 21, 2022
Marlon Ramos
The families of over 3,000 Filipinos slain during martial law and other victims of atrocities under the Marcos dictatorship deserve an explanation on why their loved ones were killed and suffered injustices, Senate Minority Leader Aquilino Pimentel III said on Tuesday...
BI tightens checks on foreigners amid rise in kidnap cases
Philippine Daily Inquirer, September 21, 2022
Tina G. Santos
Immigration authorities have tightened the screening of foreigners coming from Cambodia and Vietnam in response to the rise in kidnappings and extortion activities by syndicates believed to have originated from those countries...
PNP claims bloodless anti-drug operations in September
Philippine Daily Inquirer, September 21, 2022
Dexter Cabalza
The Philippine National Police has claimed that the antidrug operations it conducted for more than two weeks had led to the arrest of thousands and the seizure of millions-worth of illegal drugs with zero deaths...
Brosas, Quimbo disagree on direct aid funding in 2023 budget
Philippine Daily Inquirer, September 21, 2022
Gabriel Pabico Lalu
Rep. Arlene Brosas of the Gabriela party-list and Marikina Rep. Stella Quimbo disagreed on Tuesday about the sufficiency of direct aid funding in the proposed 2023 national budget...
‘The truth’ to hit Rodriguez; sugar import mess probe still going – Hontiveros
Philippine Daily Inquirer, September 20, 2022
Maila Ager
The search for truth on the alleged sugar importation fiasco will never stop with the resignation of Executive Secretary Victor Rodriguez, according to opposition Senator Risa Hontiveros...
Government health spend must rise to cut ‘OOP’ share
BusinessMirror, September 21, 2022
Cai Ordinario
THE level of health spending in response to Covid-19 should be maintained and used as a new base in the coming years to continue the reduction in Filipinos’ out-of-pocket expenses for their medical needs, according to an expert from the Asian Development Bank (ADB)...
IATF may further ease Covid border restrictions, says DOH’s Vergeire
BusinessMirror, September 21, 2022
Claudeth Mocon-Ciriaco
Department of Health (DOH) Officer in Charge Undersecretary Maria Rosario Vergeire on Tuesday said that the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF) is set to meet in the coming weeks to discuss options on easing of border restrictions...
PHL at risk of cyberattacks, DICT asks for higher budget
BusinessMirror, September 21, 2022
Lorenz S. Marasigan
The Philippines is vulnerable to cyberattacks and threats, the chief of the Cybercrime Investigation and Coordinating Center (CICC) admitted to senators on Tuesday...
DoH: 50-percent booster coverage target ‘impossible’
Daily Tribune, September 21, 2022
Jom Garner
The Department of Health on Tuesday said that the 50 percent booster coverage set by President Ferdinand “Bongbong” Marcos Jr. for his first 100 days in office is “impossible” to reach...
NGCP’s profit ‘robbery’
Daily Tribune, September 21, 2022
Chito Lozada
The Energy Regulatory Commission should investigate the high level of returns allowed transmission network concessionaire National Grid Corp. of the Philippines in its over 15 percent Weighted Average Cost of Capital...
DOH adjusts booster target in PBBM’s first 100 days
Manila Bulletin, September 20, 2022
Analou de Vera
The Department of Health (DOH) said it is revising its Covid-19 booster coverage target during the first 100 days of President Ferdinand “Bongbong” Marcos Jr...
DOH 'hopeful' about PH COVID-19 situation, but only WHO can say if pandemic over
CNN Philippines, September 20, 2022
CNN Philippines Staff
The Department of Health (DOH) on Tuesday said it is "hopeful and positive" about the country's COVID-19 situation, but added it's only the World Health Organization (WHO) that can tell if the pandemic is really over...
DepEd queried on defunded SpEd
Daily Tribune, September 21, 2022
Neil Alcober
A teachers’ group has called on the Department of Education to lay down its plan on the defunded special education program or SpEd for 2023...
Imports, start of milling season to stabilize sugar prices
Philippine Daily Inquirer, September 21, 2022
Jordeene B. Lagare
The Sugar Regulatory Administration (SRA) expressed confidence on Tuesday that the projected influx of sugar imports and the beginning of the milling season will stabilize the prices of the sweetener in retail markets...
Investors shift to dollar investments as inflation hedge
Philippine Daily Inquirer, September 21, 2022
Miguel R. Camus
More investors are shifting to dollar-denominated instruments amid the historic rise of the greenback, whose strength would likely continue despite the seasonal jump in overseas remittances toward the end of the year, Ng family-led Asia United Bank (AUB) said...
DTI upbeat on PH franchise industry
The Manila Times, September 21, 2022
Eireene Jairee Gomez
The Department of Trade and Industry is eyeing a more robust growth and development of the country's franchise industry, expecting more entrepreneurs and investors to enter the sector...
Partnerships vital for PH water security
The Manila Times, September 21, 2022
Eireene Jairee Gomez
Government partnerships with financial institutions and infrastructure providers, as well as financing for small and medium enterprises, should be prioritized to create and promote access to safe water and sanitation in the Philippines, experts said...
PSEi firms up ahead of Fed meet
Philippine Daily Inquirer, September 21, 2022
Miguel R. Camus
The Philippine Stock Exchange Index (PSEi) ended a five-day losing streak on Tuesday ahead of a US Federal Reserve meeting that would likely continue an aggressive monetary tightening to slow price increases...
Demand for $-denominated assets seen to rise
Philippine Star, September 21, 2022
Lawrence Agcaoili
Higher demand for dollar-denominated investments is expected as the greenback scales historic highs and the US Federal Reserve sustains its tight monetary policy...
PEZA, BOC to enhance trade facilitation in ecozones
Philippine Star, September 21, 2022
Catherine Talavera
The Philippine Economic Zone Authority (PEZA) is looking to strengthen its ties with the Bureau of Customs (BOC) in a bid to enhance trade facilitation and logistics efficiency in the economic zones...
With SO2 shipment due, sugar prices to decline
BussinessMirror, September 21, 2022
Jasper Y. Arcalas
Filipino consumers may soon see retail prices of refined sugar stabilizing in the market as shipments under the 150,000-metric ton (MT) importation program start to arrive as early as next month...
BSP sets digital banks’ RRR at 8%
BusinessWorld, September 21, 2022
The reserve requirement ratio (RRR) of digital banks will be at 8% and they will likewise be covered by existing prudential requirements for big banks that mandate them to maintain adequate capital and liquidity buffers, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday...
Gov’t vows to maintain fiscal prudence to meet debt obligations
Manila Standard, September 20, 2022
Julito G. Rada
Finance Secretary Benjamin Diokno said Tuesday the government will maintain its fiscal prudence to meet its financial obligations, following Moody’s Investors Service action reaffirming the Philippines’ investment grade rating of “Baa2”, with a stable outlook...
Rice allowance for private sector workers pushed
Manila Bulletin, September 20, 2022
Ellson Quismorio
Agri Party-list Rep. Wilbert Lee is prodding the House leadership to start deliberations on a proposal that would provide “rice allowance” to workers in the private sector...
Economic managers hail MTFF adoption in Congress
Manila Standard, September 20, 2022
Chino S. Leyco
Economic managers expressed gratitude to Congress for supporting the Marcos administration’s medium-term fiscal blueprint that aims to steer the economy back to its high-growth trajectory...
Business seat in SRA urged
Daily Tribune, September 21, 2022
Raffy Ayeng
FEATURED ARTICLE
Pattinson, S. & Cunningham, J.A. (2022). Entrepreneurship in times of crisis. The International Journal of Entrepreneurship and Innovation, 23 (2), 71-74. https://doi.org/10.1177/14657503221097229
Read more and access the full article via SAGE Journals institutional login (University of the Philippines Diliman).
