February 17, 2023
How the Philippines’ military advancements compare with its peers in the region
Source: BusinessWorld
Foreign investment approvals up in Q4
The Manila Times, February 17, 2023
Niña Myka Pauline Arceo
Foreign investment (FI) approvals rose by 30.1 percent to P173.61 billion in the fourth quarter from P133.47 million a year earlier, the Philippine Statistics Authority (PSA) reported on Thursday...
Rates hiked; more expected
The Manila Times, February 17, 2023
Niña Myka Pauline Arceo
Monetary authorities raised key interest rates by 50 basis points (bps) on Thursday after inflation surged to 8.7 percent last month...
PH decision on RCEP goes to Senate plenary
Philippine Daily Inquirer, February 17, 2023
Melvin Gascon
The Philippines is a step closer to finally joining the world’s biggest free-trade agreement after the committee report on the Regional Comprehensive Economic Partnership (RCEP) mustered the required signatures to bring it to the plenary meeting for discussion and final voting...
BSP raises key rate by 0.5 ppt to 6%
Philippine Daily Inquirer, February 17, 2023
Ronnel W. Domingo
Households and businesses that borrow from banks will need to think harder about getting new loans as the cost of money is primed to go even steeper in the months ahead after the Monetary Board (MB) again raised the policy rate by 0.5 percentage point (ppt) to 6 percent from 5.5 percent, effective Feb. 17...
‘Focus on manufacturing, infra to offset inflation’
Philippine Daily Inquirer, February 17, 2023
Miguel R. Camus
The Ayala Group’s Bank of the Philippine Islands (BPI) said the government must explore other growth drivers such as infrastructure and manufacturing as high inflation weighs on consumers, the bedrock of the Philippine economy...
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DFA: Too early to invoke mutual defense treaty
Philippine Daily Inquirer, February 17, 2023
Frances Mangosing, Jacob Lazaro, Jeannette I. Andrade
The Department of Foreign Affairs (DFA) and a House leader said on Thursday that it might be premature to invoke the activation of the country’s Mutual Defense Treaty (MDT) with the United States following a Chinese vessel’s “military-grade” laser shot at a Philippine Coast Guard (PCG) ship in the West Philippine Sea...
P700B in pledges secured from Japan visit – Balisacan
The Manila Times, February 17, 2023
Niña Myka Pauline Arceo
The Philippine economic team has successfully affirmed strong bilateral relations with Japan, securing over P700 billion worth of agreements in the form of contributions and pledges, National Economic Development Authority (NEDA) Secretary Arsenio Balisacan said...
China hits US over balloon response
The Manila Times, February 17, 2023
Associated Press
China's ceremonial parliament has accused American lawmakers of trampling on the sovereignty of other nations after the United States passed a measure condemning a suspected Chinese spy balloon's intrusion into US airspace...
Germany, UK denounce China harassment
The Manila Times, February 17, 2023
Bernadette E. Tamayo and Franco Jose C. Baroña
Germany, Denmark, and the United Kingdom joined other countries in expressing serious concern over the harassment of a Philippine Coast Guard (PCG) vessel by a Chinese Coast Guard (CCG) ship in the South China Sea...
Seoul report revives 'enemy' tag for NKorea
The Manila Times, February 17, 2023
Associated Press
South Korea called North Korea "our enemy" in its biennial defense document published on Thursday, reviving the label for its rival for the first time in six years, as tensions worsen between the two countries...
New Zealand accepts overseas help in cyclone's wake
The Manila Times, February 17, 2023
Agence France-Presse
New Zealand redeployed gunships and helicopters to deliver water, food and fuel to cities cut off by Cyclone "Gabrielle" on Thursday, as overwhelmed rescue teams embraced international offers of help...
Malpass steps down as World Bank chief
The Manila Times, February 17, 2023
Associated Press
David Malpass is stepping down as president of the World Bank, nearly four years after former president Donald Trump nominated him to run the 189-nation agency...
Pope resignations shouldn’t become a fashion–Francis
Philippine Daily Inquirer, February 17, 2023
Reuters
Pope Francis has said that pontiffs resigning instead of ruling for life should not become a “fashion” in the Roman Catholic Church and happen only in truly exceptional circumstances...
China: No military grade laser, just 'hand-held, greenlight pointer for navigation safety'
The Manila Times, February 16, 2023
Bernadette E. Tamayo
The Chinese Coast Guard (CCG) crew used "hand-held laser speed detector and green light pointer" to ensure "navigation safety" of the Philippine ship that allegedly "intruded into the waters adjacent to the Ren'ai Reef without Chinese permission," a spokesman for the Chinese Ministry of Foreign Affairs said on Thursday...
Russia's 'monstrous bureaucracy' impeding Ukraine fight – Wagner head
The Manila Times, February 16, 2023
Agence France-Presse
The head of Russia's mercenary outfit Wagner said it could take months to capture the Bakhmut and slammed Moscow's "monstrous bureaucracy" for slowing military gains...
World Bank may loosen loan ratio to free up $4B a year
Philippine Daily Inquirer, February 17, 2023
Reuters
The World Bank, under pressure to do more to help developing countries cope with climate change, may change its internal lending guidelines to free up $4 billion in lending capacity each year, World Bank President David Malpass told Reuters on Thursday...
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Palace: Revamp up in agricultural agencies
Philippine Daily Inquirer, February 17, 2023
Nestor Corrales
President Marcos announced on Wednesday an unspecified revamp in unidentified agricultural agencies in a bid to boost rice production and even attain rice self-sufficiency in two years...
DA to unmask officials in cahoots with cartel
The Manila Times, February 17, 2023
Bella Cariaso
An official of the Department of Agriculture on Thursday said that steps have been taken to unmask officials of the DA and the Bureau of Plant Industry (BPI) who are allegedly in cahoots with the onion cartel...
Defend Duterte vs ICC probe – Arroyo
The Manila Times, February 17, 2023
Moises Cruz
House Senior Deputy Speaker and former president Gloria Macapagal Arroyo on Thursday led other lawmakers in urging the House of Representatives to support former president Rodrigo Duterte, who may come under investigation by the International Criminal Court (ICC) for alleged crimes against humanity...
Airport authorities dispute Poe exposé
Philippine Daily Inquirer, February 17, 2023
Dexter Cabalza
The Manila International Airport Authority (MIAA) said on Thursday that a private aircraft which left Ninoy Aquino International Airport (Naia) on Feb. 13 had submitted the required documents and was cleared by different agencies operating at the airport...
SC Justice Leonen: Corruption still exists in courts
Philippine Daily Inquirer, February 17, 2023
Tina G. Santos
Senior Associate Justice Marvic Leonen urged lawyers on Thursday to speak out against corruption, saying it still exists in the government, including the judiciary, and remains “a significant factor in engendering inequality in our society.”...
DoH official: Garin withheld Dengvaxia information
The Manila Times, February 17, 2023
Arlie O. Calalo
An official of the Department of Health (DoH) on Thursday named ex-Health secretary and now Iloilo Rep. Janette Garin and other ranking agency executives as those who pushed the mass anti-dengue vaccination using the Dengvaxia vaccine in 2016...
Masbate quake forces hospital evacuation
Philippine Daily Inquirer, February 17, 2023
Ma. April Mier-Manjares, Michael B. Jaucian
Around 200 people had to be awakened and evacuated from a hospital in Masbate City early Thursday when a magnitude 6 earthquake and succeeding aftershocks rocked Masbate province...
Kalinga earns world records for gong players, ‘banga’ dancers
Philippine Daily Inquirer, February 17, 2023
Villamor Visaya Jr.
Garbed in g-strings or loincloths, 3,440 men played their gongs, while 4,681 women wearing wraparound skirts danced with “banga” (clay pots) on their heads as part of the celebration dubbed, “Call of a thousand gongs, dance of a thousand pots,” at the Kalinga Sports Complex here on Wednesday...
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Producer price for agri up anew in Q3 2022
The Manila Times, February 17, 2023
Niña Myka Pauline Arceo
The agricultural producer price index (PPI) increased by 15.2 percent year on year in the third quarter of 2022, up from 13.1 percent the previous quarter, the Philippine Statistics Authority reported on Wednesday...
Medalla: Reserve requirement could be cut in first half
The Manila Times, February 17, 2023
Monetary authorities are not ruling out the possibility of cutting the bank reserve requirement ratio within the first half of the year, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said on Thursday...
PH shares barely move amid pivotal BSP meet
Philippine Daily Inquirer, February 17, 2023
Miguel R. Camus
The benchmark Philippine Stock Exchange index (PSEi) closed flat on Thursday just before the Bangko Sentral ng Pilipinas (BSP) delivered a 50-basis point interest rate hike to tamp down soaring consumer prices...
Diversification needed to reduce shocks
The Manila Times, February 17, 2023
Policymakers must look at diversifying the economy's growth drivers to provide a greater cushion for future shocks, an economist said on Thursday...
Sugar imports to hurt small farmers, 2 agri groups warn
Philippine Daily Inquirer, February 17, 2023
Carla Gomez, Jordeene B. Lagare
Leaders of two sugar groups have expressed dismay over an order authorizing the importation of 440,000 metric tons (MT) of refined sugar to temper domestic prices...
DoTr projects to boost PH tourism – Bautista
The Manila Times, February 17, 2023
The Department of Transportation (DoTr) expects big-ticket transportation infrastructure projects to boost tourism in far-flung areas and unlock economic potentials in the provinces...
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