February 13, 2023
Analysts’ expectations on policy rates (February 2023)
Source: BusinessWorld
Marcos gov’t goes all out on PPP infra strategy
Philippine Daily Inquirer, February 13, 2023
Ronnel W. Domingo
The Marcos administration amped up its rhetoric on revitalizing public-private partnerships (PPP) as a way to push its infrastructure program as it also drummed up investor interest in key areas of possible cooperation, particularly in renewable energy projects...
PHL secures $600-M investment pledge from MVP, Mitsui
BusinessWorld, February 13, 2023
Revin Mikhael D. Ochave and Kyle Aristophere T. Atienza
The Philippines has secured a $600-million investment pledge for its infrastructure projects from Metro Pacific Investments Corp. (MPIC) Chairman Manny V. Pangilinan and Japan’s Mitsui & Co., according to Malacañang...
BSP may deliver 50-bp hike — poll
BusinessWorld, February 13, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) is widely expected to raise benchmark interest rates at its meeting on Thursday, with some analysts forecasting a 50-basis-point (bp) increase after inflation accelerated to a fresh 14-year high in January...
BSP rate hike all but certain
The Manila Times, February 13, 2023
Niña Myka Pauline Arceo
Key interest rates are expected to be raised anew this Thursday after inflation blew past expectations last month. All that remains to be answered is the size of the adjustment, with most analysts favoring a larger 50-basis-point (bps) hike instead of the 25 bps earlier projected...
PH eyes tripartite pact with US, Japan
The Manila Times, February 13, 2023
Bernadette E. Tamayo
The Philippines is considering a tripartite agreement with its two close allies, the United States and Japan, amid the "dangerous situations" the country faces, President Ferdinand "Bongbong" Marcos Jr. said...
‘Sticky’ inflation seen to drag down growth
BusinessMirror, February 13, 2023
Cai U. Ordinario
The performance of the Philippine economy will be below its historical average this year and next year, as GDP growth will not even reach 5 percent in 2023 and 2024, according to a UK-based think tank...
PHL Information Economy revving up, PSA data bares
BusinessMirror, February 13, 2023
Cai U. Ordinario
Businesses doing transactions over mobile phones more than doubled while those with social media accounts nearly doubled in 2019, according to the Philippine Statistics Authority (PSA)...
Money ‘mule’ incidents in 2021 spike as digital banking surges
BusinessWorld, February 13, 2023
Keisha B. Ta-asan
Money “mules” generated 732,392 suspicious-transaction reports (STRs) in 2021, up 1,277.09%, the Anti-Money Laundering Council (AMLC) reported...
Lawmaker wants Mandarin taught in schools
Philippine Daily Inquirer, February 13, 2023
Jeannette I. Andrade
House Minority Leader Marcelino Libanan wants the Chinese language of Mandarin taught in the schools nationwide...
PPA says tracking system to comply with Arta rules
Philippine Daily Inquirer, February 13, 2023
Alden M. Monzon
The Philippine Ports Authority (PPA) on Friday said it hopes to settle the impact assessment requirements for its proposed container monitoring and tracking system with the Anti-Red Tape Authority (Arta) this month, hurdling regulation deemed crucial before the controversial project’s implementation...
Solon banks on bills seeking workers’ welfare
BusinessMirror, February 13, 2023
Jovee Marie De La Cruz
The chairman of the House Committee on Labor and Employment expressed confidence last Sunday that Filipino workers can soon enjoy a better working environment with the approval of several bills promoting their welfare...
South Korea aims to join AI race as startup Rebellions launches new chip
Philippine Daily Inquirer, February 13, 2023
Reuters
South Korean startup Rebellions Inc launches an artificial intelligence (AI) chip on Monday, racing to win government contracts as Seoul seeks a place for local companies in the exploding AI industry...
Chinese tech firms working on ChatGPT-style technology
Philippine Daily Inquirer, February 13, 2023
Reuters
The global buzz around Microsoft chatbot ChatGPT has spread to China, shoring up stocks in artificial intelligence (AI) related firms and prompting a flurry of local companies to announce rival projects...
Gov’t to review defense deal with Japan, US
Philippine Daily Inquirer, February 13, 2023
Julie M. Aurelio
The Marcos administration will review a proposed trilateral defense and security deal with the Philippines’ longtime allies, Japan and the United States, as part of a “continuing and ongoing process” in pursuing alliances with other nations...
China harasses Philippine Coast Guard vessel with laser
Philippine Daily Inquirer, February 13, 2023
Frances Mangosing
The Philippine Coast Guard (PCG) has accused a Chinese coast guard ship of directing a “military-grade” laser at one of its vessels, putting the Filipino crew in danger...
Marcos: PH should ‘protect itself’ in case of conflict in Taiwan
Philippine Daily Inquirer, February 13, 2023
Frances Mangosing
The Philippines “has to take measures to protect itself” because a conflict in Taiwan, with its “physical proximity,” would affect it immediately...
PH to donate $100,000 in humanitarian aid to Turkey quake victims
Philippine Daily Inquirer, February 12, 2023
Zacarian Sarao
The Philippines will donate $100,000 in humanitarian aid to Turkey earthquake victims through the House of Representative Speaker’s Disaster Relief and Rehabilitation Initiative...
Marcos brings home $13B investment deals from Japan
The Manila Times, February 13, 2023
Bernadette E. Tamayo
President Ferdinand Marcos Jr. arrived home on Sunday evening from Japan with $13 billion worth of investment deals that he said will provide jobs for thousands of Filipinos and further rev up the economy...
PH-Japan VFA OK if it won’t raise tensions over WPS – Marcos
Philippine Daily Inquirer, February 13, 2023
Gabriel Pabico Lalu
The Philippines could get into a Visiting Forces Agreement (VFA) with Japan, as it has with the United States, if it would not increase the tensions already gripping the West Philippine Sea...
Asean members join forces to fight online scams
Philippine Daily Inquirer, February 13, 2023
Tyrone Jasper C. Piad
Members of the Association of Southeast Asian Nations (Asean) are setting up a working group to combat the proliferation of online scams, which have been on the rise as cybercriminals take advantage of the increasing digital adoption...
US urges Syria, all parties to allow earthquake aid to get to those in need
Philippine Daily Inquirer, February 13, 2023
Reuters
The US government on Sunday called on Syria and all parties to immediately grant humanitarian access to all those in need across the country after Monday’s earthquake and major aftershocks that have killed at least 33,000 people...
US holds drills in South China Sea amid tensions with China
The Manila Times, February 13, 2023
Associated Press
The US Navy and Marine Corps are holding joint exercises in the South China Sea at a time of heightened tensions with Beijing over the shooting down of a suspected Chinese spy balloon...
US fighter jet shoots down unidentified cylindrical object over Canada
BusinessWorld, February 12, 2023
Reuters
A US F-22 fighter jet shot down an unidentified cylindrical object over Canada on Saturday, the second such instance in as many days, as North America appeared on edge following a week-long Chinese spying balloon saga that drew the global spotlight...
Looting and hygiene worries add to rescuers’ burden in Turkey
BusinessWorld, February 12, 2023
Reuters
Volunteers struggling to find ever fewer survivors in the quake-hit Turkish city of Antakya said on Saturday ransacking and hygiene problems were adding to their daunting task...
Office cake culture lives on in Britain despite health warning
BusinessWorld, February 12, 2023
Reuters
When Katie Mulligan baked a beetroot cake for her colleagues at a London advertising agency, she was focused on getting the recipe right rather than whether it was acceptable to bring treats into the office...
Bolsonaro mulls return to Brazil in coming weeks
BusinessWorld, February 12, 2023
Reuters
Former Brazilian president Jair Bolsonaro said on Saturday he plans to return to Brazil “in the coming weeks,” after having spent more than a month in the United States.
Trudeau: US fighter shot down object over northern Canada
BusinessMirror, February 13, 2023
Jim Morris
Canadian Prime Minister Justin Trudeau said Saturday that on his order a US fighter jet shot down an “unidentified object” that was flying high over the Yukon, acting a day after the US took similar action over Alaska...
Charter change not needed to get foreign investments – Marcos
Philippine Daily Inquirer, February 13, 2023
Gabriel Pabico Lalu
The Philippines can get foreign investments without amending the Constitution, President Ferdinand Marcos Jr. said on Sunday afternoon during his flight back from Japan to Manila...
Abaca industry in peril over use of polymer in peso bills
Philippine Daily Inquirer, February 13, 2023
Michael B. Jaucian
Rep. Jose Bong Teves Jr. of Talino at Galing ng Pinoy (TGP Partylist) has urged the Bangko Central ng Pilipinas (BSP) to rethink replacing abaca (manila hemp) with polymer in making peso bills as it has a negative effect on the local abaca industry...
Only 10% of LGUs have automated business hubs
Philippine Daily Inquirer, February 13, 2023
Alden M. Monzon
Only a little more than 10 percent of local government units (LGUs) were found to be fully compliant with regulations on establishing business one-stop shops...
Marcos vows to announce Edca sites soon
Philippine Daily Inquirer, February 13, 2023
Gabriel Pabico Lalu
President Ferdinand Marcos Jr. will hold a command conference on returning to Manila to pinpoint the location of the four additional sites under the Enhanced Defense Cooperation Agreement (Edca) sites with the United States...
Namfrel wants set dates for barangay, SK polls
The Manila Times, February 13, 2023
William B. Depasupil
The election watchdog National Movement for Free Elections (Namfrel) is confident the Supreme Court will resolve the ambiguities in the interpretation of law governing the holding of the barangay and Sangguniang Kabataan (SK) elections...
Marcos: New EDCA sites not a provocation in Asean region
The Manila Times, February 13, 2023
President Ferdinand Marcos Jr. said the Philippines does not aim to create more tensions in the South China Sea with the establishment soon of four new sites for the Enhanced Defense Cooperation Agreement (EDCA) with the United States...
Manila may juggle China, US, Japan amid tensions
BusinessWorld, February 12, 2023
Kyle Aristophere T. Atienza
The Philippine government would probably juggle its relationships with China, the United States and Japan to boost its security and economic interests, according to a foreign policy analyst...
Labor coalition seeks speedy trial for Duterte critic
BusinessWorld, February 12, 2023
John Victor D. Ordoñez
The largest labor coalition in the Philippines has called on the courts to fast-track the trial of a former senator and critic of ex-President Rorigo R. Duterte for drug trafficking...
DENR partners with private sector, academe for reforestation carbon credit program
BusinessWorld, February 12, 2023
Sheldeen Joy Talavera
The Department of Environment and Natural Resources (DENR) is developing a carbon credit program through reforestation in partnership with private companies and a university, starting in Negros Occidental province...
Higher tax on luxury items not enough to address inequality — experts
BusinessWorld, February 13, 2023
Kyle Aristophere T. Atienza
The proposal to increase taxes on luxury goods could boost government revenues but more fiscal measures are needed to fix inequality gaps in the Philippines, according to economists...
Banking, consumer sectors seen leading Q4 earnings
BusinessWorld, February 13, 2023
Justine Irish D. Tabile
Banks and retailers are seen to have outperformed other listed companies in the fourth quarter of 2022 as the economic reopening provided a needed boost to loan demand and consumer spending...
Mindanao-Visayas grid link starts testing phase in March
BusinessWorld, February 13, 2023
Ashley Erika O. Jose
The Independent Electricity Market Operator of the Philippines (IEMOP) said the project linking the power grids of the Visayas and Mindanao is expected to be completed by March...
Inflation sets mood yet again for anxious PH investors
Philippine Daily Inquirer, February 13, 2023
Miguel R. Camus
Investors are bracing for a busy week with the upcoming release of US inflation and the Bangko Sentral ng Pilipinas’ (BSP) interest rate-setting meeting on Thursday...
Agri sector resiliency urged amid RCEP push
The Manila Times, February 13, 2023
Philippine News Agency
The government must make sure that the Philippine agriculture sector is resilient to internal or external shocks with or without the Regional Comprehensive Economic Partnership (RCEP) free trade agreement, Sen. Francis Escudero said on Saturday...
Indian fintech firm sees PH market growth potential
Philippine Daily Inquirer, February 13, 2023
Alden M. Monzon
Financial technology firm Intellect Design Arena expects the Philippine market for digital financial services and solutions to continue growing this year, amid rising demand from local financial institutions and the untapped potential of the unbanked sector...
AmCham hoping for more regular SRP bulletin releases
BusinessWorld, February 12, 2023
Revin Mikhael D. Ochave
The American Chamber of Commerce of the Philippines (AmCham) said it is counting on the Department of Trade and Industry (DTI) to more regularly publish its updated suggested retail price (SRP) bulletins, following the latest edition issued on Feb. 8...
Bigger role for MSMEs urged as FDI flows into larger companies
BusinessWorld, February 12, 2023
Beatriz Marie D. Cruz
Micro, small, and medium enterprises (MSMEs) can survive within an “ecosystem” making them part of a broader supply chain as larger companies take in more foreign direct investment (FDI), economists said...
German companies keen to enter PHL mining industry
BusinessWorld, February 12, 2023
Alyssa Nicole O. Tan
German companies are interested in joining the Philippines’ mining industry, according to the European country’s top diplomat in Manila...
Japan financial firm ‘keen’ on Maharlika investment–Romualdez
BusinessMirror, February 13, 2023
Jovee Marie De La Cruz
A ranking official of one of Japan’s leading financial institutions has expressed strong interest in the proposed Maharlika Investment Fund and its potential to help the Philippine power sector, according to Speaker Ferdinand Martin G. Romualdez...
Filipino workers’ good profile boosted Japan investment drive–PBBM
BusinessMirror, February 13, 2023
Samuel P. Medenilla
President Ferdinand R. Marcos, Jr. said the exemplary performance of overseas Filipino workers (OFW) in Japan helped draw more Japanese investments in the country...
Registered BOI investments in Jan 40% of full-year target
BusinessMirror, February 13, 2023
Andrea E. San Juan
The Board of Invest-ments (BOI) said it had generated P414 billion worth of investments in January, or more than 40 percent of its P1-trillion investments target for 2023...
PHL to account for half of SEA’s ’23 total rice imports–USDA data
BusinessMirror, February 13, 2023
Jasper Y. Arcalas
The Philippines, the world’s second largest rice importer, may account for half of the total rice imports in Southeast Asia this year as the country turns to imported stocks to keep retail prices stable.
Indo-Pacific Economic Framework gets kudos
BusinessMirror, February 13, 2023
Andrea E. San Juan
The Semiconductor and Electronics Industries in the Philippines Foundation Inc. (SEIPI) cited the benefits of the Indo-Pacific Economic Framework (IPEF) to member-countries of the Association of Southeast Asian Nations (Asean)...