Philippines drops in global attractiveness index

Source BusinessWorld

The University of the Philippines (UP) will resume full face-to-face classes in all undergraduate courses during the second semester of this school year, which will begin in February 2023...

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An economist sees the peso slumping closer to 62 to $1 level by the end of the year amid the continued strengthening of the greenback as the hawkish US Federal Reserve delivers jumbo rate hikes to tame inflation...

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Short-term investments made by foreign investors were still in net outflow territory for the fourth consecutive month in August, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday...

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The Philippine government might maintain an investment-grade rating of Baa2 with a “stable” outlook from Moody’s Investor Service as the creditworthiness watchdog sees public-sector debt stock and debt servicing improving...

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Metro Manila has been classified as “moderate risk” for COVID-19 transmission amid an upswing in cases, but the Department of Health (DOH) on Thursday maintained that the infection trends in the National Capital Region (NCR) are not solely caused by the optional masking policy in outdoor spaces...

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Law professors have joined the call for the Supreme Court (SC) to take more action against the red-tagging of Manila Regional Trial Court Branch 19 Judge Marlo Magdoza-Malagar...

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The Supreme Court has declared unconstitutional a provision in Republic Act No. 11494 or the Bayanihan 2 Law and several revenue regulations issued by the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) imposing a 5-percent franchise tax on gross bets from gaming operations of the Philippine Offshore Gaming Operators (POGOs)...

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Secretary Erwin Tulfo of the Department of Social Welfare and Development (DSWD) yesterday led the signing of the implementing rules and regulations for the Expanded Solo Parents Welfare Act of 2021...

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The Securities and Exchange Commission (SEC) has issued guidelines on the resolution of intra-corporate disputes outside the courts...

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With firms in the business process outsourcing (BPO) industry shifting registration to the Board of Investments (BOI), Rep. Joey Sarte Salceda urges finance sector regulators to make rules for tax perks simpler and clearer...

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The Philippine government is looking to temporarily suspend the collection of one of the taxes imposed on imported electric vehicles in the country, eyeing the implementation of such measure for several years to help grow the industry...

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A BILL filed by Senator Sherwin T. Gatchalian to amend the tax code will index the threshold for value-added tax (VAT) exempt taxpayers to inflation, adjustable every three years...

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The House of Representatives on Wednesday night ratified the bicameral committee report on a measure requiring the registration of subscriber identity module (SIM) cards, a measure seen to curb the proliferation of text spam and scams...

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The House of Representatives on Wednesday ratified the bicameral conference committee report on the bill postponing the barangay and Sangguniang Kabataan (SK) elections to October 2023...

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The new implementing rules and regulations (IRR) for Republic Act No. 11165, or the Telecommuting Act of 2018, covers not only “work-from-home” but all “work-from-everywhere” arrangements, a senior labor official said on Thursday...

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Senate Deputy Majority Leader Mark A. Villar wants to institutionalize death benefits for personnel of disaster agencies who will die while in the performance of their duty...

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All eyes are on Elon Musk as he promises great things for this year’s AI Day. Will we see the Tesla bots walk on stage? Perhaps we will see the CyberTruck in all its metallic glory?...

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President Ferdinand "Bongbong" Marcos Jr. has secured $3.9 billion in investment pledges that could create more than 112,000 jobs during his working visit to the United States last week...

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President Ferdinand “Bongbong” R. Marcos, Jr, said the Asian Development Bank (ADB) will be a crucial partner of the government in developing a “green, sustainable and climate-resilient” economy...

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Department of National Defense (DND) Officer in Charge Jose Faustino Jr. is expected to meet with his counterpart from the United States today (Friday) where discussions on bilateral defense and security cooperation are expected to take center stage...

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Most Filipino companies are ready to take digitalization up a notch and conduct virtual meetings through the metaverse, according to a study by an American telecommunications networking equipment and services company...

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The Philippines was the fourth deadliest country in the world for land and environmental defenders last year, according to an international report, which noted that killings of indigenous peoples were rampant in the Southeast Asian nation...

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The Department of Migrant Workers (DMW) sought to clarify an earlier report about the lifting of the compulsory quarantine requirement for overseas Filipino workers (OFWs) and other inbound travelers from overseas places entering Hong Kong...

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President Marcos on Thursday thanked the Mandaluyong-based Asian Development Bank (ADB) for its help at the height of the COVID-19 pandemic during the annual meeting of the bank’s 66 governors...

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Oil prices were little changed in early trade on Friday but headed for their first weekly gain in five weeks, underpinned by a weaker U.S. dollar and the possibility that OPEC+ may agree to cut crude output when it meets on Oct. 5...

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Hiking interest rates is not the only solution to combat the recent spike in inflation which has eroded much of the purchasing power of billions around the world, according to the World Bank...

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An interactive data hub that would assist countries, including the Philippines, in their efforts to shift from fossil-based to zero-carbon was launched in Thailand on Thursday...

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US President Joe Biden on Thursday announced $810 million in new funding for Pacific Islands at a first-of-a-kind summit with their leaders in Washington, vowing a closer partnership with a strategic but sparsely populated region where China is making inroads...

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The Russian invasion of Ukraine is causing a “backsliding” in the world’s efforts to cut emissions as the war is delaying the retirement of coal-fired power plants globally, according to the World Bank...

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Russian President Vladimir Putin was set to host a Kremlin ceremony on Friday annexing four regions of Ukraine, while his Ukrainian counterpart said Putin would have to be stopped for Russia to avoid the most damaging consequences of the war...

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Myanmar’s junta sentenced an Australian economist to three years in prison while also handing down another conviction to ousted leader Aung San Suu Kyi, drawing global condemnation on Thursday...

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The United States has soundly defeated Russia in an election to control a United Nations body responsible for shaping global internet development, a contest viewed as geopolitically symbolic amid wider US-Russia tensions and an answer to fears of growing censorship online by authoritarian regimes...

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Ukrainian President Volodymyr Zelensky will hold an emergency top-level meeting on Friday where “fundamental decisions” will be taken in the wake of Russian plans to annex four Ukrainian regions, an official said on Thursday...

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European and US equities sank Thursday on fears that rising interest rates will spark a global recession, while the pound clawed back ground one day after emergency bond-market intervention from the Bank of England...

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The United Nations World Tourism Organization (UNWTO) emphasized the importance of a whole-government approach to reform tourism, along with enhancing public and private partnerships...

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Experts on Wednesday said they were encouraged after preliminary data for a new Alzheimer's drug showed it slowed cognitive decline, the first medicine to accomplish this goal...

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Almost half of all bird species are in decline globally and one in eight are threatened with extinction, according to a major new report warning that human actions are driving more species to the brink and nature is "in trouble."...

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Funding for innovation swelled during the Covid-19 pandemic, with significant growth in developing countries, the UN said Thursday, warning though that the current geopolitical turmoil was threatening the advances...

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The first British coins to feature the image of King Charles have been unveiled by the Royal Mint, with the portrait of the new monarch facing the opposite direction to his late mother Queen Elizabeth in keeping with tradition...

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The Federal Reserve is laser-focused on stemming price increases in the United States. But countries thousands of miles away are reeling from its hardball campaign to strangle inflation, as their central banks are forced to hike interest rates faster and higher and a runaway dollar pushes down the value of their currencies...

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US Vice President Kamala Harris capped her four-day trip to Asia with a stop Thursday at the Demilitarized Zone dividing the Korean Peninsula as she emphasized US commitment to the security of its Asian allies in face of an increasingly aggressive North Korea...

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Mexico's central bank announced another big increase in its benchmark interest rate, to a record high, to try to tame the highest inflation in more than two decades...

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Cabinet secretaries who failed to get the nod of the Commission on Appointments (CA) before the start of Congress’ first adjournment tomorrow would be considered bypassed and would have to be reappointed by President Marcos if he wishes to keep them, Senate President Juan Miguel Zubiri said yesterday...

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Pinoys Technology company Google will provide scholarships to help thousands of Filipino students and jobseekers land opportunities in high-demand industries...

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As expected, the Marcos administration’s supermajority in the House of Representatives passed on Wednesday night the P5.268-trillion national budget for 2023, the first spending bill proposed by President Marcos...

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President Marcos will have to reappoint 14 members of his Cabinet after the Commission on Appointments (CA) was forced to bypass their nomination to attend to pressing legislation before Congress started its recess on Wednesday...

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Heads will roll over the controversial P2.4-billion purchase of overpriced laptops for the Department of Education, Sen. Francis Tolentino said Thursday, guaranteeing that “many” will face charges following what he described as “revealing and explosive evidence” unearthed in yesterday’s Blue Ribbon Committee hearing...

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The House of Representatives under Speaker Martin G. Romualdez on Wednesday night authorized all standing and special committees to hold hearings during the congressional break starting Thursday...

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Department of Health officer-in-charge Maria Rosario Vergeire says the migration of healthcare workers is among the reasons for the shortage of nurses in the country...

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The Philippine Transportation department has awarded contracts for the Metro Manila Subway Phase 1 and South Commuter Railway projects...

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State-run National Food Authority and concerned local government units need to immediately procure palay from farmers in the aftermath of typhoon “Karding” to hasten the rice sector’s recovery...

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The Department of Education (DepEd) went ahead with the bidding for P2.4 billion worth of laptops without a valid authorization to transfer funds to the Procurement Service of the Department of Budget and Management (PS-DBM) as its purchasing agent, the Senate blue ribbon committee learned on Thursday...

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Even officials of the Department of Education (DepEd) recognized a crisis in the country’s education sector...

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The Senate on Thursday passed - in over 30 minutes - the P2.3 billion 2023 national budget of the Office of the Vice President (OVP)...

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The Meat Importers and Traders Association (Mita) is urging President Ferdinand R. Marcos Jr. to issue a new executive order (EO) extending the lower current tariff rates on pork imports to help ease pressure on the country’s inflation...

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Over 112,000 new jobs will be created from the business deals secured by President Ferdinand R. Marcos Jr. during his working trip in the United States (US) last week...

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GO Negosyo founder Jose Maria "Joey" Concepcion 3rd reiterated his push for more on-site work to further stimulate economic activity in the country...

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The Philippine Economic Zone Authority (Peza) has partnered with a local renewable energy firm to establish two solar facilities for economic zones in Cavite and Baguio...

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Consumers should brace for an increase of as much as 20 percent in the retail prices of rice and vegetables after Super Typhoon “Karding” (international name: Noru) wreaked havoc on the country’s farm sector, the Department of Agriculture (DA) said on Thursday...

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Nonperforming loans (NPL) in the Philippine banking industry may continue to ease in the coming months, an analyst from Moody’s Investors Service said on Thursday...

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A farmers' group on Thursday warned of a possible shortage in the rice supply in 2023 amid the devastation of Super Typhoon "Karding," and the decline in the palay output due to the high cost of agriculture inputs...

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