Philippines Lags Behind Peers in Global Knowledge Index

Source: BusinessWorld

Inflation could ease a bit this month but remain near 14-year highs, Bank of the Philippine Islands (BPI) said, prompting monetary authorities to keep hiking interest rates...

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The Marcos administration plans to form an interagency team that will be tasked to find ways to prevent prices of key goods and services from spiking...

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The Philippines is in a league with Asia’s “new rising stars” that can be at the vanguard of global economic recovery, despite an expected slowdown in gross domestic product (GDP) growth after a faster-than-expected expansion in 2022, according to Nomura Holdings...

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Private sector economists raised their inflation outlook for this year through 2025 after the faster-than-expected January print, with most economists expecting the Bangko Sentral ng Pilipinas (BSP) to begin trimming rates only next year...

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"More aggressive" government initiatives and not just monetary policy are needed to win the fight against inflation, Finance Secretary Benjamin Diokno said...

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The “continued normalization” of post-pandemic mobility will help the Philippine economy expand within the government’s 6-7% target this year, but slower growth is likely in 2024, the Bangko Sentral ng Pilipinas (BSP) said...

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The Bangko Sentral ng Pilipinas (BSP) warned that various food supply problems, including potatoes and fish, could exacerbate the country’s accelerating inflation...

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Two leading business groups on Sunday expressed support for the Senate ratification of the Regional Comprehensive Economic Partnership (RCEP) mega free-trade deal, arguing that the country cannot afford to be left behind much further...

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A key leader of the House of Representatives is setting his sights on amending certain provisions in the Official Development Assistance (ODA) Law to improve the Armed Forces of the Philippines (AFP)’s below par capabilities primarily with its Asian neighbors...

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To speed up administration of justice, the House of Representatives and the Senate are looking at several judicial reform bills to speed up the administration of justice...

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The House Committee on Ways and Means will present amendments to the Official Development Assistance (ODA) Law to ensure that the country has the flexibility “to acquire top-of-the-line air equipment and naval capabilities."...

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Lawmakers seek the speedy congressional approval of a proposal to impose a first-ever carbon tax on electricity use (CTE) to raise extra funds for climate action initiatives and, thus, help the Philippines meet its ambitious de-carbonization target of cutting the greenhouse gas (GHG) emissions by 75 percent by 2030...

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The SC stressed that under the Rule on International Child Abduction Cases, the prompt return of the child is “based on presumption that, save in exceptional circumstances, such wrongful removal or retention is not in the best interest of the child”...

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Despite the enactment of business-friendly laws during the previous administration, foreign direct investment (FDI) inflows have not been as large as those streaming to the country’s Southeast Asian neighbors because of the Philippines’s restrictive, inward-looking Constitution, a senior lawmaker said on Sunday...

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The Malayang Konsyumer (MK) group sought the immediate passage of a bill which expands the coverage of the Anti-Agricultural Smuggling Act of 2016 to include hoarding, profiteering, cartel and "other market abuses."...

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The Supreme Court is eyeing to use artificial intelligence (AI)-powered tools to improve operations in the judiciary, particularly the legal research system, as part of its drive to unclog court dockets and expedite disposition of cases...

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The Department of Science and Technology (DoST) is encouraging food companies to adopt the innovations it has developed to also help farmers address overproduction of certain crops...

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The National Task Force for the West Philippine Sea (NTF-WPS) is formulating new guidelines on how the Philippine Coast Guard (PCG) will respond to acts of harassment in the West Philippine Sea...

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Foreign Secretary Enrique Manalo brought up the Philippines’ maritime tensions with China at a high-level security conference in Germany on Saturday, saying that China’s harassment of Filipino fishermen and the country’s coast guard was the “daily situation that we face."...

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The Armed Forces of the Philippines (AFP), calling on all Filipinos for support and prayers, has vowed to continue defending the country’s territory amid China’s increasing aggressiveness in the West Philippine Sea (WPS)...

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The International Criminal Court has granted the Philippine government’s plea for more time to file an appeal over an ICC Pre-Trial Chamber’s ruling allowing the investigation on the killings in the drug war in the country to resume...

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Turkey on Sunday said rescue efforts following last week’s devastating earthquake had ended in all but two provinces as visiting US Secretary of State Antony Blinken announced $100 million in fresh humanitarian aid...

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Surging inflation is a key factor in an employee’s decision to seek higher pay, according to a survey by global recruitment firm Robert Walters which also said an employer’s response is crucial to talent retention...

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North Korea said Sunday it had test-fired an intercontinental ballistic missile as a warning to Washington and Seoul, saying the successful "surprise" drill demonstrated Pyongyang's "capacity of fatal nuclear counterattack."...

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Facebook, the social network that was supposed to stay free "always," and its stablemate Instagram launched on Sunday a paid subscription service, as the advertising-based business model that has long dominated the internet falters...

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Japanese and Chinese officials will hold senior-level security discussions next week for the first time since February 2019, Tokyo's top diplomat said Saturday (Sunday in Manila)...

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North Korea has fired a pair of short-range ballistic missiles off its east coast on Monday, South Korea's military said, two days after Pyongyang resumed testing activities with an intercontinental ballistic missile (ICBM) launch...

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Space has "fundamentally changed" in a just a few years due to a growing arms race, a US general said, singling out China as the "most challenging threat," followed by Russia...

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Critics are accusing the British publisher of Roald Dahl's classic children's books of censorship after it removed colorful language from works such as Charlie and the Chocolate Factory and Matilda to make them more acceptable to modern readers...

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The International Criminal Court’s (ICC) supposed lack of authority over the Philippines was just “a line” being parroted by government officials to attack the court, a rights advocate said on Sunday, as lawyers representing the kin of drug war victims criticized lawmakers for providing former President Rodrigo Duterte “with a blanket of protection.”...

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Two regional train projects proposed to be undertaken via a public-private partnership (PPP) scheme have secured funding for their respective feasibility studies, which are meant to ensure that the government is able to keep up with its infrastructure targets...

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Majority of widowed and more than half of Filipinos who were separated, divorced, or annulled nationwide were women, according to the latest data from the Philippine Statistics Authority (PSA)...

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Sen. Sherwin Gatchalian on Sunday said the Philippine Gaming and Amusement Corp. (Pagcor) should immediately rescind the contract it awarded to a shady private consortium after a New York-based bank denied providing a document that it presented to secure the P6-billion government project...

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Jemaima Hernandez, 33, spends a total of about three hours a day — in 15-to-20-minute intervals lasting up to nighttime — breastfeeding the youngest two of her four sons, an 8-month-old and a 2-year-old...

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Malacañang will be conducting an investigation of the fake memorandum circular claiming that President Ferdinand Marcos Jr. approved the deduction of two days worth of salary from all government employees for a relief fund that has been set up for the victims of the earthquake in Turkey...

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When Super Typhoon Odette (Rai) struck southern and central parts of the Philippines in December 2021, people’s access to clean drinking water and sanitation facilities was compromised, leading to increased risk of water-borne diseases...

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The number of measles cases nationwide is rising, according to the Department of Health (DOH)...

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The government plans to dispose of its 3.46-percent stake in Manuel V. Pangilinan-led NLEX Corp. as the country scours for possible sources of funds for the proposed sovereign wealth fund.  The Privatization Management Office (PMO) is rebidding a P2-million contract for consulting services for the valuation of the 649,198 shares in NLEX owned by the national government...

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The government should review its policies and programs if it wants to effectively address inflation, a Monetary Board member and a former Cabinet official said last Friday...

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The Department of Trade and Industry (DTI) assured consumers at the weekend they will have access to affordable basic necessities and prime commodities (BNPCs) amid the global inflation...

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The executive department, particularly local government units (LGUs), should be more “aggressive” in the fight against inflation that is expected to remain elevated this year, Department of Finance (DoF) Secretary Benjamin E. Diokno said...

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The Board of Investments (BOI) on Saturday expressed confidence in hitting P1 trillion worth of investment approvals target this year, banking on what it called the Marcos administration’s “aggressive and strategic” investment promotion initiatives...

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Only three entities will import the 64,050 metric tons (MT) of sugar through the minimum access volume (MAV) mechanism, based on documents from the Department of Agriculture (DA)...

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Saying the country cannot afford to be left behind much further, local and foreign business chambers have expressed support anew for Senate ratification of the Regional Comprehensive Economic Partnership (RCEP), which top Senate leaders endorsed in plenary last week...

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The Philippine mining industry should first have a “clear cut” policy before it can attract investments into nickel processing, according to officials of the Department of Trade and Industry (DTI)...

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Domestic shipping businesses are seeking the government’s help to support the projected rebound of the maritime industry from the pandemic through tax incentives and accessible funding...

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Stocks will continue to move sideways this week as investors weigh the impact of sticky inflation and rising interest rates on corporate earnings...

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Oil companies are anticipated to raise the prices of petroleum products by less than a peso this Tuesday just a week after implementing a hefty rollback, according to industry sources...

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