World Bank GDP growth forecasts for select East Asia and Pacific economies

Source BusinessWorld

The Philippine economy is seen to grow at 6.3 percent this year despite the expected slowdown in East Asia and the Pacific, the World Bank said on Tuesday...

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The House of Representatives will wrap up plenary debates on the proposed 2023 national budget today (Wednesday), Marikina Rep. Stella Luz Quimbo said Tuesday...

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Despite Super Typhoon "Karding's" destruction to parts of Luzon, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Tuesday that the country's annual economic growth target is still reachable...

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The Philippine peso on Tuesday fell to a new record low against the US dollar after closing at P58.999...

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The Senate has approved on third and final reading a bill seeking to postpone the barangay (village) and Sangguniang Kabataan (SK or Youth Council) elections from December 2022 to December 2023...

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With an overwhelming 252 votes in favor, the House of Representatives on Monday night approved on third and final reading a bill seeking to waive college entrance examination fees at private schools for qualified students...

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Voting 20-0-0, the Senate approved on third and final reading Senate Bill (SB) 1310 or the proposed SIM (subscriber identity module) Registration Act...

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A group of legislators from the Bicol region have filed a bill proposing to put behind bars persons 18 years of age and above who engage in incestuous sexual relations even if they are fully aware of their close relationships...

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The Supreme Court (SC) is looking into possible actions against former spokesperson of the National Task Force to End Local Communist Armed Conflict Lorraine Badoy for alleged red tagging and “harassing” Manila Regional Trial Court (RTC) Judge Marlo Magdoza Malagar...

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The Department of Trade and Industry (DTI) has issued the new technical regulation for monobloc chairs and stools, underscoring the importance of quality for the safety of users as it is commonly used in offices and public multipurpose halls...

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The latest version of the Build Operate Transfer (BOT) Law’s Implementing Rules and Regulations (IRR) is expected to entice more private sector players to participate in public infrastructure projects, according to the National Economic and Development Authority (Neda)...

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The House of Representatives has passed the bill easing payment of taxes on third and final reading, with all 250 lawmakers present during the session voting in favor of the measure...

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With Sierra Madre shielding Northern Luzon from the devastation of Super Typhoon Karding, a lawmaker from Rizal province once again called for the protection of the longest mountain range in the country...

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At least 30 members of the House of Representatives joined the call for restoring the P10.85-billion cut in the budget of State Universities and Colleges (SUCs) for 2023...

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The Chinese Embassy in Manila on Tuesday pledged to cooperate with relevant agencies in the deportation of illegal Chinese Philippine offshore gaming operator (POGO) workers...

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Prosecutor Karim Khan of the International Criminal Court (ICC) has rejected the request of the Philippine government to stop the resumption of the tribunal’s investigation of deaths related to the Duterte administration’s drug war and Davao Death Squad killings in the Philippines...

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Japanese Prime Minister Fumio Kishida has vowed to offer support to the Philippines on agricultural and fisheries value chains and the collection of small and light arms in Mindanao...

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President Ferdinand Marcos, Jr. has disclosed that his administration initiated talks with Moscow to explore the possibility of importing Russian fuel and fertilizer...

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The Asian Development Bank (ADB) on Tuesday rolled out a $14-billion program to address food shortage issues in the Asia-Pacific region...

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The World Trade Organization's chief said Tuesday she believes the world is heading toward a global recession due to multiple colliding crises, and called for radical policies to revive growth...

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International tourism continues to bounce back, but is unlikely to return to pre-coronavirus pandemic levels anytime soon, the United Nations World Tourism Organization said on Monday...

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The head of the European Central Bank (ECB) said on Monday the economic outlook "is darkening," and she expected business activity to "slow substantially" in the coming months as high energy and food prices pushed up by the war in Ukraine sapped consumer spending power...

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The head of the World Trade Organization told Reuters on Tuesday that she expected that global trade forecasts would be revised lower from the current 3 percent for 2022, citing the ongoing Russia-Ukraine war and related food and energy crises...

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The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said on Tuesday, as the Indian Ocean nation battles its worst economic crisis in more than seven decades...

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President Vladimir Putin on Monday granted Russian citizenship to US whistleblower Edward Snowden, who exposed massive surveillance by the US National Security Agency on Americans and then sought refuge in Russia...

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There is no certainty that the government could still recover the P1.9 billion that it paid as down payment for the 16 Mi-17 helicopters that it ordered from a Russian supplier, but whose contract it was already moving to terminate...

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People who got the COVID-19 vaccine reported slightly longer menstrual cycles, but the change was temporary, according to a new study published Tuesday in the journal BMJ Medicine...

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Facebook parent company Meta announced Tuesday it had detected and shut down two separate networks of fake accounts engaged in covert influence operations run from China and Russia...

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The United States will introduce a resolution at the United Nations Security Council condemning referendums held by Russia in occupied regions of Ukraine, the US Ambassador to the UN said on Tuesday...

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Optional masking outdoors is one of the factors driving the recent rise in COVID-19 cases in the country, the Department of Health admitted Tuesday...

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The government’s special vaccination days scheduled this week went ahead as scheduled, except in Luzon, which was battered by Supertyphoon “Karding” (international name: Noru). Maria Rosario Vergeire, officer in charge of the Department of Health (DOH), said on Tuesday that no COVID-19 jabs were damaged by the supertyphoon...

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The cost of repairing schools damaged by Super Typhoon Karding (international name: Noru) may reach P112 million, according to the Department of Education (DepEd)...

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Camarines Sur Third District Rep. Gabriel Bordado Jr. is backing the agricultural plans of President Ferdinand Marcos Jr., saying that he hopes the chief executive can solve the woes of the agriculture sector...

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The agricultural damage and losses due to Typhoon Karding is now at P1.29 billion, the Department of Agriculture (DA) said on Tuesday...

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The Supreme Court on Tuesday warned that those who will red-tag and threaten members of the judiciary and their families may be cited for contempt of court...

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With “high risk” classification, rabies is still one of the most prevalent threats to public health in the Philippines, the Research Institute for Tropical Medicine (RITM) said...

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Warning against links with crime syndicates, Senator Joseph Victor Ejercito backed the Marcos administration’s summary deportation of 2,000 illegal and overstaying workers employed by different Philippine Overseas Gaming Operators (POGOs) all over the country...

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The national government (NG) has allocated P15.2 billion for the Department of Migrant Workers (DMW) under the 2023 National Expenditure Program (NEP), according to the Department of Budget and Management (DBM)...

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The Department of Energy (DoE) said on Tuesday that it is preparing the service contract covering the resumption of exploration at Recto Bank, which it hopes will help make up for the impending loss of the nearly depleted Malampaya gas field...

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The Land Transportation Franchising and Regulatory Board has committed to open all pre-pandemic routes in Metro Manila to public utility vehicles before 2022 ends, a lawmaker said on Tuesday...

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President Ferdinand Marcos Jr's Cabinet meeting on Tuesday discussed upgrading the skills of the Filipino workforce as part of the administration's "economic transformation agenda," Malacañang said...

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The increasing number of COVID-19 cases in the country cannot be attributed to a single factor alone, the Department of Health said Tuesday...

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Filipinos spend more on hygiene and self-care essentials during disasters or emergencies, according to a study by Philippine-based startup Packworks...

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Senator Pia Cayetano on Tuesday hit five state universities and colleges (SUCs) including the University of the Philippines (UP) for not fully implementing the resumption of in-person classes...

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The Philippine Economic Zone Authority said Tuesday it is set to approve four big-ticket investment projects from Japanese industrial companies that are into production of multilayer ceramic capacitors, brushless DC motors and biomass carbonization...

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The Philippine Stock Exchange (PSE) Index has entered the dreaded bear market territory after plummeting over 200 points on Tuesday, while the peso fell to a new record low on mounting inflation and recession risks...

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The Department of Agriculture (DA) on Tuesday reported an increase in retail prices of various agriculture products amid the devastation brought by Super Typhoon Karding in Luzon...

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A bank economist said Tuesday the Bangko Sentral ng Pilipinas may be compelled to make another off-cycle interest rate hike this year in the wake of the next Federal Open Market Committee meeting in early November, when another 75-basis-point increase is expected...

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Damage caused by Supertyphoon Karding (international name: Noru) to the farm sector has soared to P1.29 billion with over 141,000 hectares of agricultural areas affected across six regions, the Department of Agriculture (DA) said on Tuesday...

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The number of Filipinos who will be lifted from poverty is expected to increase on the back of expectations that the Philippine economy will post faster growth, according to the World Bank...

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The Philippine auto industry’s sales recovery will likely be derailed if a measure reimposing excise taxes on pickup trucks is signed into law, according to Fitch Solutions Country Risk and Industry Research...

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The Bangko Sentral ng Pilipinas (BSP) might postpone the reduction in big banks’ reserve requirement ratio (RRR) this year as interest rates rise to contain inflation, officials from banks said...

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With large swaths of farmlands in Luzon flattened by Super Typhoon Karding, the country may have to resort to more rice importation and possibly at significantly higher cost due to the continued weakening of the peso...

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