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February 23, 2023
Philippines falls in labor resilience index
Source: BusinessWorld
PHL economy seen to expand by 4.1% this year
BusinessWorld, February 23, 2023
Keisha B. Ta-asan
Philippine economic growth is expected to slow to 4.1% this year, as external headwinds and elevated inflation are seen to dampen domestic demand, Oxford Economics said...
Senate okays PH entry into world’s largest trade pact
Philippine Daily Inquirer, February 23, 2023
Alden M. Monzon, Melvin Gascon
The Senate approved late Tuesday night the country’s entry to the world’s biggest free-trade bloc, a move cheered by major business groups on Wednesday as it will boost investment and jobs...
Net ‘hot money’ inflows surged to $292M in January
Philippine Daily Inquirer, February 23, 2023
Ronnel W. Domingo
The net inflows of Bangko Sentral ng Pilipinas-registered short-term investments or “hot money” surged to $292 million in January 2023, from $93 million in December and $14.6 million in January 2022...
The Corruption Perceptions Index rise and slump
Philippine Star, February 23, 2023
Shanice Espiritu
Last week, the much-awaited Corruptions Perceptions Index for 2022 was released by global watchdog Transparency International. The results for the Philippines were disappointing yet unsurprising...
RCEP ratification welcomed
The Manila Times, February 23, 2023
Niña Myka Pauline Arceo and Jenica Faye Garcia
Cabinet officials and business groups on Wednesday welcomed the Senate's ratification of the Regional Comprehensive Economic Partnership (RCEP), saying it would open up opportunities for the Philippines...
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House panel okays 'in principle' 8 divorce bills for consolidation
The Manila Times, February 23, 2023
Ma. Reina Leanne Tolentino
A committee at the House of Representatives on Thursday approved "in principle" proposed bills for divorce in the Philippines...
Group seeks tax break for e-motorcycles
The Manila Times, February 23, 2023
Catherine S. Valente
The Executive department was urged to amend Executive Order 12 signed by President Ferdinand Marcos Jr. in January 2023 that modified the import duties of electric vehicles and components to include electric motorcycles...
House bill to declare Basilan’s Lampinigan Island an ecotourism zone filed
Philippine Daily Inquirer, February 23, 2023
Vance Chan
Basilan Rep. Mujiv Hataman is seeking to declare his province’s Lampinigan Island an ecotourism zone to fast-track development in the area...
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Bing AI-Powered Mobile App Now Available
Philippine Daily Inquirer, February 23, 2023
Dale Arasa
Microsoft recently announced a mobile app for the new Bing AI search engine. Consumer Chief Marketing Officer Yusuf Mehdi describes it as “your copilot for the web.”...
Apple’s Chinese contract manufacturer to develop AR device – Nikkei
Philippine Daily Inquirer, February 23, 2023
Reuters
Apple’s Chinese contract manufacturer Luxshare Precision Industry Co Ltd will help develop the iPhone maker’s long-awaited augmented reality (AR) device, Nikkei Asia reported on Thursday...
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US, Australia eye sea patrols with PH
The Manila Times, February 23, 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...
'Ayungin Shoal is ours' as PCG stands ground vs 'continuing' Chinese incursions
The Manila Times, February 23, 2023
Franco Jose C. Baroña
"Ayungin Shoal is ours," the Philippine Coast Guard (PCG) said on Thursday as it criticized China for "continuing to ignore the Philippines' legal ownership" of the shoal, which is part of the country's Exclusive Economic Zone (EZZ)...
Chinese militia vessels in WPS shows China continues to ignore PH ownership
Philippine Daily Inquirer, February 23, 2023
Daphne Galvez
The presence of Chinese militia vessels in the West Philippine Sea, particularly in Ayungin Shoal, shows that China continues to ignore the Philippines’ legal ownership of its exclusive economic zone (EEZ), the Philippine Coast Guard (PCG) said Thursday...
Asean business leaders eye stronger intraregional trade, investments ties
Philippine Daily Inquirer, February 23, 2023
The Association of Southeast Asian Nations-Business Advisory Council (Asean-BAC) leadership hopes to work with the Philippine government to help develop micro, small, and medium enterprises (MSMEs) in the Philippines...
UN chief condemns Russian 'affront' in Ukraine as assembly meets
Philippine Star, February 23, 2023
Amélie Bottolier-Depois, Agence France-Presse
UN Secretary-General Antonio Guterres condemned Russia's invasion of Ukraine Wednesday as the General Assembly met in a special session two days before the anniversary of Moscow's attack...
Markets stabilize as investors digest latest Fed minutes
Philippine Star, February 23, 2023
Agence France-Presse
Equity markets stabilized Wednesday following the prior session's Wall Street rout as markets assessed the latest Federal Reserve meeting minutes amid worries over higher interest rates...
Global debt sees first annual drop since 2015 – IIF
Philippine Daily Inquirer, February 23, 2023
Reuters
The post-pandemic rebound in world growth and inflation last year meant the amount of debt sloshing around the global economy saw its first annual fall in dollar terms since 2015, a widely tracked study has shown...
G20 to tackle global economic threats
The Manila Times, February 23, 2023
Associated Press
Top financial leaders from the Group of 20 (G20) leading economies are gathering in the south Indian technology hub of Bengaluru this week to tackle myriad challenges to global growth and stability, including stubbornly high inflation and surging debt...
UN to mark one year of Ukraine war with vote to ‘go down in history’
Philippine Daily Inquirer, February 23, 2023
Reuters
Marking one year of war, Ukraine and Russia lobbied countries at the United Nations on Wednesday for backing ahead of a vote by the 193-member General Assembly that the United States declared will “go down in history.”...
G7 finance ministers to discuss more Russia sanctions
The Manila Times, February 23, 2023
Agence France-Presse
Group of Seven finance ministers were due to discuss on Thursday possible fresh sanctions against Moscow and more support for Ukraine, a day ahead of the first anniversary of the Russian invasion...
One woman dies every 2 minutes in pregnancy, childbirth–UN
Philippine Daily Inquirer, February 23, 2023
Agence France-Presse
A woman dies every two minutes due to pregnancy or childbirth complications, despite maternal mortality rates dropping by a third in 20 years, the United Nations said Thursday...
Russia says it will play by nuclear treaty rules despite suspending deal with US
Philippine Daily Inquirer, February 23, 2023
Reuters
Russia will stick to agreed limits on nuclear missiles and keep informing the United States about changes in its deployments, a senior defense official said on Wednesday, despite the suspension of its last remaining arms control treaty with Washington...
Four-day work week more productive – study
Philippine Daily Inquirer, February 23, 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 (Wednesday in Manila)...
China blasts Pentagon official's visit to Taiwan
The Manila Times, February 23, 2023
Associated Press
China on Wednesday sharply criticized a senior Pentagon official's visit to Taiwan and reaffirmed that it had sanctioned two companies for supplying military equipment to the self-governing island democracy...
How will it end? No easy answers over Russia’s war on Ukraine
Philippine Daily Inquirer, February 23, 2023
Agence France-Presse
The Kremlin wanted Russia’s invasion of Ukraine to yield a lightning victory, but 12 months on the war is dragging into a stalemate with neither side achieving military breakthrough nor prepared to agree a settlement based on the status quo...
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‘Nothing irregular’ in sugar importation – DA
Philippine Daily Inquirer, February 23, 2023
Nestor Corrales
Agriculture Senior Undersecretary Domingo Panganiban on Wednesday said there was “nothing irregular” about the importation of sugar to the country even before the Sugar Regulatory Administration (SRA) approved the importation of 440,000 metric tons (MT) of sugar...
‘Unprepared’: Critics see more farmers’ woes under RCEP
Philippine Daily Inquirer, February 23, 2023
Jordeene B. Lagare, Krixia Subingsubing, Melvin Gascon
The lone dissenter in the Senate’s ratification of the Regional Comprehensive Economic Partnership (RCEP), Sen. Risa Hontiveros, stood pat on her position that the country was not yet ready to participate in the trade agreement and that it even stood to lose by worsening its trade deficit...
Airport authorities put up one-stop shop for special flights
Philippine Daily Inquirer, February 23, 2023
Jerome Aning
Government agencies based at Ninoy Aquino International Airport (Naia) will be creating soon a one-stop shop to process special flights and ensure such trips are not being used in human trafficking, the spokesperson of the Bureau of Immigration (BI) said on Wednesday...
Neda-6 clarifies inter-island Western Visayas bridge construction to start in 2025
Philippine Daily Inquirer, February 23, 2023
Joey Marzan
The National Economic and Development Authority in Western Visayas (Neda-6) on Thursday denied media reports on the construction timetable of the ₱189.53-billion Panay-Guimaras-Negros (PGN) bridge...
Improve RPT collections, local govt officials told
The Manila Times, February 23, 2023
Niña Myka Pauline Arceo
Finance Secretary Benjamin Diokno urged municipal officials on Wednesday to improve real property tax (RPT) collection as a means of strengthening local government units (LGUs)...
Gov’t okays 2nd plane fuel surcharge in a year
Philippine Daily Inquirer, February 23, 2023
Tyrone Jasper C. Piad
Passengers will have to pay more for their plane rides next month after the Civil Aeronautics Board (CAB) imposed a higher fuel surcharge to be collected by the airlines amid rising jet fuel prices...
Marcos ‘cronies’ cleared in ill-gotten wealth case
BusinessWorld, February 22, 2023
John Victor D. Ordoñez
The Philippines’ anti-graft court has junked an ill-gotten wealth case against business associates of the late dictator Ferdinand E. Marcos, Sr. and his wife Imelda due to lack of evidence...
EU worried about extrajudicial killings under Philippine drug war
BusinessWorld, February 22, 2023
Alyssa Nicole O. Tan
A delegation of European Union (EU) lawmakers on Wednesday expressed “deep concern” about the Philippine government’s deadly war on drugs...
Congress to look into PPA, shipping companies over logistics costs
BusinessWorld, February 22, 2023
Alyssa Nicole O. Tan
A senator has filed a resolution seeking to probe, in aid of legislation, orders issued by the Philippine Ports Authority (PPA) that supposedly led to “excessive” rise in port fees...
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More foreign, private partnerships to boost PH growth, group says
Philippine Daily Inquirer, February 23, 2023
Faith Argosino
The Philippines needs to explore more bilateral and multilateral partnerships with like-minded nations to boost the country’s potential gains and development, international research organization Stratbase ADR Institute for Strategic and International Studies (ADRi) said...
PSA issues agri price situationer as of Feb
The Manila Times, February 23, 2023
Niña Myka Pauline Arceo
The Philippine Statistics Authority on Wednesday released a price situationer of selected agricultural commodities during the first phase of February this year...
Philippines losing P33 billion yearly to teenage pregnancy – UNFPA
Philippine Star, February 23, 2023
Rhodina Villanueva
The Philippines is losing P33 billion in potential income yearly due to problems brought by teenage pregnancy, according to the United Nations Population Fund (UNFPA)...
Term deposit yields climb after BSP rate hike, hawkish signals
BusinessWorld, February 23, 2023
Keisha B. Ta-asan
Yields on term deposits rose on Wednesday as both tenors were oversubscribed after the Bangko Sentral ng Pilipinas (BSP) hiked borrowing costs during their policy meeting last week...
More Filipinos opened bank accounts last year
The Manila Times, February 23, 2023
Almost 6 million Filipinos were able to open their very first bank account last year after completing the Step 2 registration for the national ID, the Philippine Statistics Authority (PSA) said on Wednesday...
The need for PH to attain food security
The Manila Times, February 23, 2023
William Dar
There is a need to be very frank and honest whenever food security is discussed, as that is a very sensitive socioeconomic issue. For sure, no government wants to be told that the majority of its citizens are suffering from involuntary hunger...
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