February 22, 2023
Manila ranks 36th in 45-city Prime Global Cities Index
Source: BusinessWorld
Central banks need to ‘stay alert’ as core inflation heats up
BusinessWorld, February 22, 2023
Keisha B. Ta-asan
Central banks in Asia, including the Bangko Sentral ng Pilipinas (BSP), need to “stay alert” as core inflation in these economies are still running above target, the International Monetary Fund (IMF) said...
PH seen weathering global recession
The Manila Times, February 22, 2023
Niña Myka Pauline Arceo
The Philippine economy remains "sufficiently robust" and will likely withstand the impact of a global recession, economists from First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P) said on Tuesday...
Senate poised to approve RCEP
BusinessWorld, February 22, 2023
Alyssa Nicole O. Tan
Philippine senators on Tuesday backed progressively lower tariffs under the world’s largest free trade agreement, covering nearly a third of the global population and about 30% of its global gross domestic product...
Balisacan hopes inflation may start to ease in March
BusinessWorld, February 22, 2023
Luisa Maria Jacinta C. Jocson
Philippine inflation may start to plateau starting March as food supply is expected to improve due to the start of harvest season and lack of typhoons, National Economic and Development Authority (NEDA) Secretary Arsenio M. Balisacan said on Tuesday...
Marina issues new rules on local ship classification
The Manila Times, February 22, 2023
Genivi Verdejo
The Maritime Industry Authority (Marina) required all registered ships engaged in domestic trade to be classed to ensure safety at sea...
Bill seeks to institutionalize budget oversight committee
BusinessWorld, February 21, 2023
Beatriz Marie D. Cruz
Opposition lawmakers have filed several bills to create Congressional oversight committees for the national budget and confidential funds given to various offices...
Lawmaker proposes declassifying marijuana as a dangerous drug
BusinessWorld, February 21, 2023
Beatriz Marie D. Cruz
A lawmaker proposed declassifying cannabis or marijuana as a dangerous drug, citing its benign effects and potential as a source of government revenue...
House approves bills barring LGU interference in Bataan economic zone
BusinessWorld, February 21, 2023
Beatriz Marie D. Cruz
A House panel has approved bills clarifying the powers of the Authority of the Freeport Area of Bataan (AFAB) to manage the economic zone free of local government interference...
Philippine senators, EU lawmakers talk human rights, ICC in ‘intense’ meeting
Philippine Star, February 22, 2023
Xave Gregorio
Philippine senators and European Union lawmakers met Wednesday to discuss human rights issues in the country, including the investigation by the International Criminal Court into the alleged killings in the “war on drugs” which supposedly turned the talks “intense”...
Non-invasive breast cancer screening tool launched
The Manila Times, February 22, 2023
Red Mendoza
A new screening tool has been launched in the country with the aim of bringing more affordable means to test breast cancer in Filipino women...
Read More
E-licensing for strategic goods exports readied
Philippine Daily Inquirer, February 22, 2023
Alden M. Monzon
The Department of Trade and Industry (DTI) is eyeing its e-licensing portal for the export of strategic goods—products that are of military or of dual use in nature—to go online by the second quarter of this year, a move seen to improve the ease of doing business in the $4.5 billion local industry...
Intramuros nominated Asia's leading tourist destination
The Manila Times, February 22, 2023
Moises Cruz
The Philippines is in the running for five major trophies in the Asia category in the 2023 World Travel Awards (WTA), Department of Tourism (DoT) Secretary Christina Garcia Frasco announced on Tuesday...
US, Australia offer joint maritime patrols with PH in West Philippine Sea
The Manila Times, February 22, 2023
Franco Jose C. Baroña
The United States and Australia expressed willingness to conduct joint maritime patrols in the West Philippine Sea with the Philippines...
Preferential trade deal will boost PHL-India ties — envoy
BusinessWorld, February 22, 2023
Alyssa Nicole O. Tan
India wants a preferential trade agreement (PTA) with the Philippines to accelerate investments and strengthen relations, according to its ambassador in Manila...
IDC: Smartphone sales in PH dove by a record 8.6% in ’22
Philippine Daily Inquirer, February 22, 2023
Tyrone Jasper C. Piad
Sales of smartphones in the Philippines dove by a record 8.6 percent to 16.3 million units in 2022, according to the Quarterly Mobile Phone Tracker of International Data Corp. (IDC), as rising prices of basic goods and services prompted many Filipinos to hold back on spending on big-ticket items...
After China laser incident, US says armed attack on PH vessels would trigger MDT
Philippine Daily Inquirer, February 22, 2023
John Eric Mendoza
Further escalation in the contested waters of South China Sea, like an armed attack on the Philippine vessels, would trigger the country’s Mutual Defense Treaty (MDT) with the United States...
Starlink Map Now Includes The Philippines
Philippine Daily Inquirer, February 22, 2023
Dale Arasa
The Starlink Twitter page announced that its satellite internet map now includes the Philippines. However, you cannot order a system for your home yet...
Beijing seeks role in ending Ukraine war
The Manila Times, February 22, 2023
Associated Press
The foreign minister of China, which has provided strong political backing for Russia in its invasion of Ukraine, said on Tuesday his country wanted to play a part in ending the conflict...
Biden to meet eastern flank NATO leaders amid Russia worries
The Manila Times, February 22, 2023
Associated Press
President Joe Biden is wrapping up his whirlwind, four-day visit to Poland and Ukraine by reassuring eastern flank NATO allies that his administration is highly attuned to the looming threats and other impacts spurred by the grinding Russian invasion of Ukraine...
Putin suspends nuclear pact, Biden says support for Ukraine ‘will not waver’
Philippine Daily Inquirer, February 22, 2023
Reuters
US President Joe Biden and Russian President Vladimir Putin have been sparring verbally, presenting starkly different views of the world and the Ukraine war, Biden promising to defend democracies and Putin asserting that the West was a threat to Russian security...
Zelensky says Ukrainian forces holding line, Russia claims advance
Philippine Daily Inquirer, February 22, 2023
Reuters
President Volodymyr Zelensky said on Tuesday that Ukrainian forces were maintaining their positions on the front line in the east after Russia reported it was advancing on its main target in the area...
Four-day working week ‘more productive’: UK study
Philippine Daily Inquirer, February 22, 2023
Agence France-Presse
A four-day working week is more productive for most staff and companies than the traditional five days, one of the biggest trials of its kind conducted in the UK reported on Tuesday...
Italy faces drought alert as Venice canals run dry
BusinessWorld, February 21, 2023
Reuters
Weeks of dry winter weather have raised concerns that Italy could face another drought after last summer’s emergency, with the Alps having received less than half of their normal snowfall, according to scientists and environmental groups...
China cautions West over fueling war
BusinessWorld, February 21, 2023
Reuters
China is “deeply worried” that the Ukraine conflict could spiral out of control, foreign minister Qin Gang said on Tuesday, and called on certain countries to stop “fueling the fire” in an apparent dig at the United States...
How Biden’s trip to Kyiv was kept secret — but not from Russia
BusinessWorld, February 21, 2023
Reuters
President Joseph R. Biden by all accounts was having a quiet weekend at the White House, joining his wife Jill Biden for dinner at a restaurant on a rare outing in Washington on Saturday...
$3.7-B UK mass action vs Facebook over market dominance rejected — for now
BusinessWorld, February 21, 2023
Reuters
Facebook on Monday temporarily fought off a collective lawsuit valued at up to 3 billion pounds ($3.7 billion) over allegations the social media giant abused its dominant position to monetize users’ personal data...
Russian gas out, renewables in? Europe clings to green goals
BusinessWorld, February 21, 2023
Reuters
After Russia invaded Ukraine a year ago, European nations faced an onslaught of crippling new challenges – including working out how to swiftly replace the Russian gas that supplied 40% of their energy needs and kept families warm in the winter...
Pacific islanders head to Australia for jobs as climate fears grow
BusinessWorld, February 21, 2023
Reuters
Over the years, Claire Anterea has waved goodbye to numerous friends and family members as they left the Pacific island nation of Kiribati for jobs in regional powerhouse Australia. She had never considered joining them – until now...
PBBM urged to ‘reconsider’ stand on Constitutional revision proposal
BusinessMirror, February 21, 2023
Jovee Marie De La Cruz
A senior lawmaker on Tuesday urged President Ferdinand R. Marcos Jr. to “reconsider” his position on constitutional reform in order to sustain the country’s high economic growth on his watch with bigger foreign direct investment (FDI) inflows...
US underscores support for West Philippine Sea, opportunities for cooperation
Philippine Star, February 22, 2023
Defense ministers of the United States and the Philippines discussed ways to deepen cooperation, touching on possibly tapping other “like-minded nations” to ensure security in the Indo-Pacific...
UN to convene as Ukraine, allies seek votes for 'peace' resolution
Philippine Star, February 22, 2023
Agence France-Presse
The UN General Assembly meets Wednesday, two days ahead of the anniversary of Russia's invasion of Ukraine, with Kyiv and its allies hoping to garner broad support for a resolution calling for a "just and lasting peace"...
Wetter storms, deforestation: Manila faces worsening floods
Manila Standard, February 22, 2023
Mikhail Flores
From her house in a Manila suburb, Rowena Jimenez can’t see the bare mountains around the built-up city. But she feels the impact of deforestation every time her living room floods...
Canadians fearing nuclear apocalypse flock to visit Cold War bunker
Manila Standard, February 22, 2023
Michel Comte and Matthiew Lasier, Agence France-Presse
A shed on a hillside on the outskirts of Canada’s capital hides a Cold War bunker that has been fielding a surge of queries since Russia’s invasion of Ukraine, asking if it is operational...
Dell Technologies appoints new president for Asia Pacific, Japan
Manila Standard, February 22, 2023
MST Tech
Dell Technologies announces the appointment of Peter Marrs as president of its Asia Pacific & Japan (APJ) region, effective immediately...
Duterte allies in Senate back bid to block ICC probe
Philippine Daily Inquirer, February 22, 2023
Melvin Gascon, Tina G. Santos
Allies of former President Rodrigo Duterte on Tuesday supported moves in the Senate to block attempts for the resumption of the International Criminal Court (ICC) investigation into alleged crimes against humanity committed under the government’s drug war...
FDA to fast-track sale of COVID meds
Philippine Daily Inquirer, February 22, 2023
Kathleen de Villa
The Food and Drug Administration (FDA) launched on Tuesday “Task Force Fleming” as part of a program to facilitate the approval and evaluation of COVID-19 drugs for commercial use “without compromising efficacy, quality, and safety.”...
PH eyes own missile system
The Manila Times, February 22, 2023
Francis Earl Cueto
The Philippines will inch closer to achieving its deterrence objectives as it is poised to have its own missile system that will give the country's "anemic" defense capability a much-needed upgrade...
Sugar imports ahead of SRA order questioned
Philippine Daily Inquirer, February 22, 2023
Jordeene B. Lagare, Marlon Ramos
A shipment of sugar from Thailand arrived in the country a week before the Sugar Regulatory Administration (SRA) approved the importation of 440,000 metric tons (MT) of the agricultural commodity, Sen. Risa Hontiveros bared on Tuesday, describing that incident as “government-sponsored smuggling.”...
Lender for teachers loses DepEd accreditation
Philippine Daily Inquirer, February 22, 2023
Jane Bautista
The Department of Education has revoked the accreditation of Manila Teachers’ Savings and Loan Association Inc. (MTSLAI), citing an order from the Bangko Sentral ng Pilipinas (BSP) even as it drew an outcry from teachers who looked at the lending company as a credit lifeline...
BIR firms up definition of ecozone logistics providers eligible for zero VAT
BusinessWorld, February 21, 2023
Luisa Maria Jacinta C. Jocson
The Bureau of Internal Revenue (BIR) said it has more clearly defined which economic zone logistics service enterprises (ELSE) are entitled to the zero value-added tax (VAT) incentive...
NIC clears Innovation Fund drawdown for 19 projects
BusinessMirror, February 22, 2023
Cai U. Ordinario
The National Innovation Council (NIC) has approved 19 projects to tap into the government’s Innovation Fund, according to the National Economic and Development Authority (Neda)...
Suicide rate among youths alarms solons
BusinessMirror, February 22, 2023
Jovee Marie De La Cruz
Lawmakers on Tuesday expressed alarm over the Department of Health (DOH) report showing that 17 percent of children and adolescents reported having thought of committing suicide...
MBC urges creation of Water department
The Manila Times, February 22, 2023
Jenica Faye Garcia
The Makati Business Club (MBC) on Tuesday expressed support for the creation of Water Resources Management Office (WRMO) but said the country's water woes would be better addressed by a department-level entity...
Civil society groups want automatic debt payments scuttled
BusinessMirror, February 22, 2023
Jasper Y. Arcalas
Civil society organizations (CSOs) are calling for the repeal of a Marcos Sr.-era law that mandates automatic appropriation of funds for the government’s debt service, arguing the need for public consultations to address “more urgent” needs of the country...
Geologist warns of hazards of living in reclaimed areas
Philippine Daily Inquirer, February 22, 2023
Jane Bautista
An expert in geology and environmental science has warned those planning to purchase reclaimed land, including on any of the multibillion-peso reclamation projects in Manila Bay, to be wary of the dangers that might come with their investment, such as land subsidence, storm surges, and tsunamis...
Breast cancer cases in PH ‘staggering’ – health expert
Philippine Daily Inquirer, February 22, 2023
John Eric Mendoza
A cancer expert on Tuesday sounded the alarm on the continuous prevalence of breast cancer in the Philippines, saying the disease is akin to a pandemic...
Senate probe into administrative orders leading to ‘excessive’ rise in port fees sought
Philippine Daily Inquirer, February 22, 2023
Daniza Fernandez
Senator Risa Hontiveros filed Senate Resolution No. 484, calling for an inquiry in aid of legislation into increased logistics costs in the Philippines caused by rising port fees and other charges...
19 innovation projects worth over P115M approved
BusinessWorld, February 21, 2023
Kyle Aristophere T. Atienza
The Philippine agency for national innovation has approved 19 projects worth P115 million, National Economic and Development Authority Secretary Arsenio S. Balisacan said on Tuesday...
Jinggoy: Time to abolish Optical Media Board, it’s now irrelevant
BusinessMirror, February 21, 2023
Butch Fernandez
The Optical Media Board (OMB) has outlived its purpose and would best be abolished, Senator Jinggoy Ejercito Estrada said on Tuesday as he filed Senate Bill No. 1904...
Philippine Congress told not to shield Duterte from ICC probe
BusinessWorld, February 21, 2023
John Victor D. Ordoñez
The biggest labor coalition in the Philippines on Tuesday denounced a Senate resolution seeking to protect former President Rodrigo R. Duterte from the International Criminal Court’s (ICC) probe of his deadly drug war...
COA: DOH failed to record P24 billion procured items
BusinessMirror, February 22, 2023
Claudeth Mocon-Ciriaco
After the Department of Health (DOH) submitted to the Commission on Audit (COA) all documents related to the purchase of Covid-19 vaccines, the state audit body revealed some “adverse findings,” including the P24 billion receipts of procured items that were not recorded...
BI arrests Sudanese man believed to be involved in human organ trafficking
BusinessMirror, February 22, 2023
Joel R. San Juan
The Bureau of Immigration (BI) yesterday disclosed the arrest of a Sudanese man who is believed to be involved in human organ trafficking victimizing Saudi nationals needing kidney transplants...
Farmers' group warns of 'disastrous impact' of RCEP on agriculture sector
The Manila Times, February 22, 2023
Bella Cariaso
No amount of sugar coating can hide the "disastrous impact" of the Regional Comprehensive Economic Partnership (RCEP) to the country, especially to the agriculture sector following its ratification by the Senate, a leader of a farmers' group said on Wednesday...
Kaliwa Dam construction progress hits 22%
BusinessWorld, February 22, 2023
Ashley Erika O. Jose
The Metropolitan Waterworks and Sewerage System (MWSS) said on Tuesday that the Kaliwa Dam in Rizal and Quezon provinces is now 22% complete...
Think tank: Next rate hike may only be 25 bps
BusinessMirror, February 22, 2023
Cai U. Ordinario
The Monetary Board is expected to raise interest rates by only 25 basis points in its next policy meeting, according to a local private think tank, First Metro Investment Corp.-University of Asia and the Pacific (FMIC-UA&P) Capital Markets Research...
RCEP ratification will put PH local industries, agri-fisheries at risk — Pamalakaya
Philippine Daily Inquirer, February 22, 2023
Kimberly D. Albaño
A fishers’ group on Wednesday said that the agri-fisheries sectors and other Philippine businesses would be at risk following the Regional Comprehensive Economic Partnership (RCEP) ratification...
Segment of South Commuter Railway line awarded to Leighton joint venture
BusinessWorld, February 22, 2023
Justine Irish D. Tabile
The Government has awarded the civil engineering, tunnel and building works contract for a segment of the South Commuter Railway (SCR) to the joint venture of Leighton Contractors (Asia) Ltd. and First Balfour, Inc., the Department of Transportation (DoTr) said...
Gov’t fully awards T-bond offer amid strong investor demand
BusinessWorld, February 22, 2023
A.M.C. Sy
The Government fully awarded the reissued 10-year Treasury bonds (T-bonds) it auctioned off on Tuesday as its average rate remained below secondary market levels amid strong demand for higher-yielding longer tenors...
Sugar planters reject proposal for further molasses imports
BusinessWorld, February 21, 2023
Sheldeen Joy Talavera
Sugar planters on Tuesday said the supply of molasses is adequate following a surge in import volumes, rejecting reported claims by the ethanol industry that more imports are needed...