September 6, 2022
Philippines’ Q1 export performance lags in East and Southeast Asia
Source BusinessWorld
Peso trades at P57 for the first time
BusinessWorld, September 6, 2022
K.B.Ta-asan
The Philippine peso touched the P57 level against the US dollar for the first time during intraday trading on Monday, as investors continued to flock to the safe-haven currency...
With weak peso, government urged to help business
BusinessMirror, September 6, 2022
Cai Ordinario
The further depreciation of the peso to another record low should prompt the government to extend incentives and subsidies to firms, especially those importing raw materials, according to local economists...
Economic growth may slow in coming quarters
Philippine Star, September 6, 2022
Lawrence Agcaoili
The country’s economic growth may slow further in the coming quarters amid accelerating inflation, according to economists...
PH inflation eased to 6.3% in August
Philippine Daily Inquirer, September 6, 2022
Ronnel W. Domingo
Inflation in the Philippines slowed down for the first time in six months to 6.3 percent in August from 6.4 percent in July, according to the Philippine Statistics Authority...
NEDA chief confident of PH meeting growth goals
Philippine Daily Inquirer, September 6, 2022
Ronnel W. Domingo
Despite the effects of various upward pressures on inflation, which is widely expected to have remained above 6 percent in August, Socioeconomic Planning Secretary Arsenio Balisacan said economic growth targets were still attainable thanks to the reopened domestic economy...
No end in sight for peso weakness, hits new low against US dollar
Philippine Daily Inquirer, September 6, 2022
Ronnel W. Domingo
The Philippine peso wilted to a new record low against the US dollar for the second consecutive trading day, closing at 56.999:$1 on Monday...
Resume college admission tests, UP urged
Philippine Daily Inquirer, September 6, 2022
Melvin Gascon
Sen. Alan Peter Cayetano on Monday called on the University of the Philippines (UP) system to reconsider its policy of abolishing its college admission test (CAT), fearing that its newly installed selection system may not be getting the best from the country’s high school graduates...
JV opposes UP, PGH budget cuts
Daily Tribune, September 5, 2022
Jom Garner
Senate Deputy Majority Leader JV Ejercito on Monday vowed to fight the budget cuts proposed for the Philippine General Hospital and University of the Philippines system...
IRR of electric vehicle law finalized, signed by DOE
BusinessMirror, September 6, 2022
Lenie Lectura
The Department of Energy (DOE) has finalized the Implementing Rules and Regulations (IRR) for the Electric Vehicle Industry Development Act (EVIDA), a policy framework aimed at developing the electric vehicle industry in the country...
‘Abolishing cedula a way to hasten digitalization’
BusinessMirror, September 6, 2022
Jovee Marie De La Cruz
The chairman of the House Committee on Ways and Means reminded agencies to simplify government processes and reduce their documentary requirements first, including the abolition of cedula (community tax certificate), as a prerequisite to digitalizing their services...
Rural banks worried over higher capital requirements
BusinessMirror, September 6, 2022
Keisha B. Ta-asan
Many rural banks may have difficulty in meeting the higher minimum capital requirements set by the Bangko Sentral ng Pilipinas (BSP), which may force them to scale down operations, according to an industry group...
House panel OKs mandatory SIM card registration bill
Philippine Star, September 6, 2022
Delon Porcalla
The House of Representatives’ committee on information and communications technology yesterday approved anew the consolidated measure requiring the registration of all postpaid and prepaid mobile phone subscriber identity module (SIM) cards...
Creba pushes bill to address housing shortage
The Manila Times, September 6, 2022
Ed Paolo Salting
The Chamber of Real Estate and Builders' Associations (Creba) is pushing for a bill that will support a Comprehensive Home Financing Program (CHFP) to make all income-earning Filipinos entitled to fixed-, low-interest, long-term housing loans...
DOE issues IRR of E-vehicle Act
Manila Standard, September 5, 2022
Alena Mae S. Flores
Energy Secretary Raphael Lotilla signed the implementing rules and regulations on Republic Act No. 11697, or the Electric Vehicle Industry Development Act...
Optional mask use in Cebu City on trial period to December
Manila Standard, September 6, 2022
Willie Casas and Maricel Cruz
The Cebu City government on Monday announced that its voluntary face mask policy will be on trial period until December 2022, and will be automatically lifted should there be a surge in COVID-19 infections in the city...
DoTr ramps up steps toward digital fare
Daily Tribune, September 5, 2022
Maria Romero
The Department of Transportation expects the pilot implementation of the automated fare collection system, which will run in about a year, will be successful and enable the transportation sector to seamlessly adapt to the digital trend...
Jakarta wants to boost air, sea traffic with Manila
BusinessMirror, September 6, 2022
Samuel P. Medenilla
To boost trade with the country, Indonesia is now pushing for the reopening of flight routes and “revitalizing” existing shipping routes to Mindanao...
PBBM, Joko tackle Asean’s wider role, stability
BusinessMirror, September 6, 2022
Maintaining the stability of the Association of Southeast Asian Nations (Asean) and expanding the role of the regional bloc in international geopolitics were among the highlights of the diplomatic talks of President Ferdinand “Bongbong” R. Marcos Jr. with Indonesian President Joko Widodo on Monday...
Impact of EU downturn on PH trade 'not severe'
The Manila Times, September 6, 2022
Eireene Jairee Gomez
The impact of an economic downturn in Europe will be manageable as other markets could make up for lost business, Trade Secretary Alfredo Pascual said...
PH, Indonesia seal 4 pacts
Manila Standard, September 6, 2022
Vince Lopez and Vito Barcelo
The Philippines and Indonesia signed four agreements on economic cooperation, culture, and defense on Monday during the second day of the state visit of President Ferdinand Marcos Jr...
DFA: No working-level talks on WPS oil and gas yet
The Manila Times, September 6, 2022
Rey E. Requejo
The Philippines and China have had “initial and general discussions” on the possibility of joint oil and gas exploration in the West Philippine Sea, but there are “no working-level talks” yet, the Department of Foreign Affairs disclosed Monday...
Marcos told to boost Indonesia ties to repel China
BusinessWorld, September 5, 2022
Kyle Aristophere T. Atienza
The Philippines should cooperate with Indonesia on the South China Sea dispute and boost economic activities in areas being claimed by China, political analysts said on Monday...
Germany to hire 600 nurses from PHL
BusinessWorld, September 5, 2022
Alyssa Nicole O. Tan
The Department of Migrant Workers said it has started taking applications to fill a German requirement for 600 registered nurses, for deployment to hospitals and elderly care centers, the German Embassy in Manila said in a statement on Monday...
PH, China conduct ‘initial discussions’ on WPS joint oil exploration —DFA
Manila Bulletin, September 5, 2022
Betheena Unite
The Philippines and China have had “initial and general discussions” on the possibility of joint oil and gas exploration in the West Philippine Sea but there are “no working level talks” yet, the Department of Foreign Affairs (DFA) bared...
Telenor Asia: Digital adoption on the rise
Manila Bulletin, September 5, 2022
Emmie V. Abadilla
Asians now favor an “always-on” life and consumes double the mobile data they did pre-pandemic...
Oil up nearly 3% as OPEC+ agrees to small oil output cut
Philippine Daily Inquirer, September 6, 2022
Reuters
Oil prices rose about 3 percent on Monday, as OPEC+ members agreed to a small production cut of 100,000 barrels per day to bolster prices...
Stocks, euro stumble as Russia fans energy crisis
The Manila Times, September 6, 2022
Agence France-Presse
Markets in Europe tumbled on Monday and the euro hit a fresh 20-year low on growing fears about an energy crisis after Russia said it would not restart gas flows to the continent, while traders are also preparing for another interest rate hike this week...
More shelling raises nuclear fears as Kyiv, Moscow await UN report
Rappler, September 6, 2022
Reuters
Power at a critical nuclear plant in Ukraine was all but cut off on Monday, September 5, for the second time in two weeks as Kyiv accused Moscow of pushing the war to the brink of nuclear catastrophe, one day before the UN nuclear watchdog was due to issue an assessment of the Zaporizhzhia power station...
Russia pockets $158 billion in energy exports after war: report
Manila Standard, September 6, 2022
Agence France-Presse
Russia has raked in a whopping 158 billion euros ($158 billion) in energy exports in the six months following its invasion of Ukraine, with the EU accounting for more than half, a think tank said Tuesday...
Deadly earthquake hits southwest China
The Manila Times, September 6, 2022
Associated Press
A strong earthquake killed at least seven people, triggered landslides and shook residents in a major city under lockdown in southwestern China on Monday, state media reported...
Liz Truss named as UK's third woman prime minister
The Manila Times, September 5, 2022
Agence France-Presse
Britain's Conservative party Monday announced Liz Truss as its new leader to succeed Prime Minister Boris Johnson and confront Britain's deepest economic crisis in decades...
Students in China face another unpredictable school year amid outbreaks and strict measures
ABS-CBN News, September 6, 2022
Phoebe Zhang, South China Morning Post
Many schools delayed the semester start due to outbreaks, and even for those resuming on time, remote learning, mask mandates and Covid tests remain...
‘Doomsday glacier,’ which could raise sea level by several feet, is holding on ‘by its fingernails,’ scientists say
CNN Philippines, September 6, 2022
Angela Fritz, CNN
Antarctica’s so-called “doomsday glacier” – nicknamed because of its high risk of collapse and threat to global sea level – has the potential to rapidly retreat in the coming years, scientists say, amplifying concerns over the extreme sea level rise that would accompany its potential demise...
SRA told to reduce reliance on imports, boost production
BusinessMirror, September 6, 2022
Jasper Y. Arcalas
The new Sugar Regulatory Administration (SRA) board will prioritize attaining the country’s sugar self-sufficiency instead of security as ordered by President Ferdinand R. Marcos Jr...
Absence of IRR bogs down leadership transition in AFP
BusinessMirror, September 6, 2022
Rene Acosta
The absence of implementing rules and regulations (IRR) on the law covering the three-year fixed term in the military has put in a quandary the post of Armed Forces of the Philippines (AFP) chief of staff on whether the current occupant should retire this month or would serve as President Ferdinand R. Marcos Jr.’s first top military commander for three years...
DOH: No expired vaccines being administered
Philippine Daily Inquirer, September 6, 2022
Dona Z. Pazzibugan
Health authorities assured the public that no expired COVID-19 vaccines will be administered after concerns were raised over expiry labels on the vaccine vials...
Senators gear up for probe against text scams
BusinessMirror, September 6, 2022
Butch Fernandez
Alarmed by the relentless tide of text scams pitching nonexistent jobs, bonuses, lottery winnings and even “casino bonus,” senators on Monday endorsed a full-blown inquiry by two committees, saying allowing such scams to go unchallenged will ruin the drive toward digitalization and make a mockery of the data privacy law...
DoH chief meets with IATF on mask policy
The Manila Times, September 6, 2022
Kaithreen Cruz and Moises Cruz
Department of Health (DoH) Officer in Charge (OIC) Maria Rosario Vergeire met with the Inter-Agency Task Force (IATF) to discuss the mask policy that they will recommend to President Ferdinand "Bongbong" Marcos Jr...
P1.7B tractor deal by DA 'overpriced'
The Manila Times, September 6, 2022
Bella Cariaso
The new chief of the Department of Agriculture's Philippine Center for Postharvest Development and Mechanization (PhilMech) on Monday said he has uncovered irregularities in the purchase of P1.737 billion worth of 1,346 tractors under a DA farm mechanization program...
DepEd, security officials tackle ROTC at meet
Philippine Daily Inquirer, September 6, 2022
Jane Bautista
Vice President and Education Secretary Sara Duterte said “ideas were exchanged” on the proposed mandatory military training requirement for citizens during her meeting with officials of the country’s security sector on Monday...
Court of Appeals voids warrants vs detained activists
Philippine Daily Inquirer, September 6, 2022
Krixia Subingsubing, Tina G. Santos
Rights advocates welcomed on Monday a Court of Appeals (CA) decision to void the search warrants issued and used against three detained activists, including Reina Mae Nasino, whose 3-month-old daughter, River, died weeks after being separated from her...
DOH sets drive for booster shots on September 26-30
Manila Standard, September 6, 2022
Willie Casas
The Department of Health announced Monday that a special vaccination campaign against COVID-19 will be carried out from Sept. 26 to 30 to administer at least 5 million booster shots...
Solon sees 40% budget increase of DA to help attain food security
Manila Standard, September 6, 2022
Maricel Cruz
The Marcos administration has proposed an almost 40-percent hike for the agriculture sector in its 2023 budget as it works to attain food security by increasing local food supply and lowering food prices...
Governance based on trust needed for PH recovery – think tank
Philippine Daily Inquirer, September 5, 2022
Zacarian Sarao
“To build the Filipino nation, we need a three-way trusting relationship among the government, private sector, and civil society,” said Victor Andres “Dindo” Manhit, president of the Stratbase ADR Institute in a statement issued on Monday...
End of COVID ‘ayuda’ draws disbelief PH economy has recovered
Philippine Daily Inquirer, September 5, 2022
Kurt Dela Peña
“A waste of public funds.” This was how Finance Secretary Benjamin Diokno described pandemic-related ayuda, stressing that given the economic rebound, there is already a lack of need to give out any more cash aid to the poor...
Teachers call for pay hike, doubling of education budget
Philippine Daily Inquirer, September 6, 2022
Jane Bautista
The Alliance of Concerned Teachers (ACT), a progressive group, kicked off the National Teachers’ Month on Monday by trooping to the House of Representatives to once again call for salary upgrades, safe reopening of schools and doubling the 2023 budget for the education sector...
DoH using expired Covid-19 vaccines – PAO
The Manila Times, September 6, 2022
Arlie O. Calalo
The Public Attorney's Office (PAO) on Monday called out the Department of Health (DoH) for reportedly allowing expired Covid-19 vaccines to be used in its vaccination program...
Nearly 50,000 Pinoy kids caught COVID-19; 1,342 died
Philippine Star, September 6, 2022
Sheila Crisostomo
Of the nearly 50,000 Filipino children who contracted COVID-19, there were 1,342 fatalities, the Council for the Welfare of Children (CWC) reported yesterday...
257,000 indigent students get P650-M study aid
Philippine Daily Inquirer, September 6, 2022
Jerome Aning
The Department of Social Welfare and Development (DSWD) has distributed educational assistance worth nearly P650 million to more than 257,000 indigent students, its spokesperson said on Monday...
Pork prices to continue fueling PHL inflation — MUFG report
BusinessMirror, September 6, 2022
K.B.Ta-asan
Pork prices in the Philippines will continue to climb this year, mainly due to the ongoing African Swine Fever (ASF) outbreak, more expensive animal feeds, and higher pump prices, according to MUFG Global Markets Research...
Skills mismatch, not graduate influx, better explains rising joblessness, economists say
BusinessWorld, September 5, 2022
Diego Gabriel C. Robles
The rise in unemployment baked into the government’s economic assumptions for next year points to a skills mismatch within the labor pool, with many unfilled positions in the construction industry alone, economists said, after the government claimed that joblessness will swell largely because of the influx of graduates from the Kinder to Grade 12 (K to 12) program...
High inflation, weak demand to crimp corporate profits
Philippine Daily Inquirer, September 6, 2022
Doris Dumlao-Abadilla
Corporate Philippines is seen to grow profits at a slower pace than earlier expected in 2022 as the prolonged environment of high consumer prices curbs household spending, thereby limiting the upside of stock market values...
Cheaper electricity needed to save garment industry
Philippine Daily Inquirer, September 6, 2022
Alden M. Monzon
An industry group of buyers and exporters of garments on Monday urged the government to enact measures to lower electricity costs in the country to compete with other Asian countries who are ahead in the textile business...
DTI reconfigures exports sector
Philippine Daily Inquirer, September 6, 2022
Eireene Jairee Gomez
The Department of Trade and Industry (DTI) is reconfiguring the export industry into three clusters as a strategy to boost industrialization in the Philippines...
Investors turn prudent as inflation hounds equities
Philippine Daily Inquirer, September 6, 2022
Doris Dumlao-Abadilla
The stock market started the week on a sluggish note as investors remained cautious ahead of the release of the inflation data for August...
Oil companies slash pump prices of fuel
Philippine Daily Inquirer, September 6, 2022
Jordeene B. Lagare
Oil companies reduced on Tuesday the pump prices of petroleum products after raising them for two straight weeks...
NEDA upbeat on meeting growth targets
Philippine Star, September 6, 2022
Louella Desiderio
The National Economic and Development Authority remains upbeat the country will meet growth targets this year, despite inflationary pressures, a slowdown in global demand and tight fiscal space, with consumption and investments seen to drive the economy forward...
Export ‘clusters’ planned for industry, technology, health
BusinessWorld, September 5, 2022
Revin Mikhael D. Ochave
The Department of Trade and Industry (DTI) said it hopes to organize exporters into three “clusters” to create vibrant ecosystems among industries to raise their international competitiveness...
Ecop: We wish gov’t consults private sector before signing economic deals
Philippine Daily Inquirer, September 5, 2022
Christian Paul Dela Cruz
One of the biggest employers’ groups in the Philippines on Monday said it hopes the government would consult the private sector prior to signing important economic agreements with other countries...
Sardines shortage looms if 'tamban' supply remains low, say manufacturers
GMA News, September 5, 2022
A group of manufacturers of canned sardines on Monday warned of a possible shortage in sardine products should the supply of “tamban” — which they mainly use for production — remain low...
Meat imports up 7.2% at end-July
Philippine Daily Inquirer, September 5, 2022
Jordeene B. Lagare
The Philippines brought in more meat imports as of July, mainly driven by pork and chicken shipments...
Gov’t eyes $1-b ADB loan to fund MRT Line 4 project
Manila Standard, September 5, 2022
Darwin G. Amojelar
The government is seeking a $1-billion loan from the Asian Development Bank to finance the planned mass transport system that will run from San Juan City to Taytay in Rizal province...
Solon raises concern about avian flu driving up egg prices
CNN Philippines, September 5, 2022
CNN Philippines Staff
A lawmaker expressed concern that egg prices may further skyrocket if the Philippines fails to control the spread of avian flu...