February 27, 2023
PHL big banks’ total assets recover in Q4 2022
Source: BusinessWorld
25-bp hike ‘most likely’ in March — BSP chief
BusinessWorld, February 27, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) will likely hike the benchmark rate again next month, with its governor eyeing a smaller 25-basis-point (bp) move amid signs of slower inflation in February...
Maharlika more acceptable now – BSP chief
Philippine Daily Inquirer, February 27, 2023
Doris Dumlao-Abadilla
Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla sees the Marcos administration’s plan to set up a sovereign wealth fund as “more acceptable,” now that it clearly will not dip into the country’s foreign exchange reserves, while safety nets will be set in place to handpick quality investments...
PHL still on FATF’s ‘gray list’
BusinessWorld, February 27, 2023
Keisha B. Ta-asan
The Financial Action Task Force (FATF) kept the Philippines on its “gray list” of jurisdictions subjected to increased monitoring for “dirty money” risks, urging the country to address deficiencies “as soon as possible.”...
'One more' rate hike 'most likely scenario'
The Manila Times, February 27, 2023
Monetary authorities remain hawkish but are unlikely to order a hefty rate increase when they next meet in March, Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla said...
PHL eyes retail dollar bonds in Q2
BusinessWorld, February 27, 2023
Luisa Maria Jacinta C. Jocson
The Philippines is looking to offer dollar-denominated retail Treasury bonds (RTBs) in the second quarter, Finance Secretary Benjamin E. Diokno said...
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Lawmaker suggests cost-benefit analysis first on charter change
Philippine Daily Inquirer, February 27, 2023
Jeannette I. Andrade, Marlon Ramos
Amid moves in the House of Representatives to push charter change (cha-cha), House Minority Leader Marcelino Libanan on Sunday urged the government’s fiscal managers and planners to take the “sensible approach” of conducting a “cost-benefit analysis” first...
Senate OKs Aral Program Act on 2nd reading
Philippine Daily Inquirer, February 27, 2023
Daniza Fernandez
The Senate approved on second reading the Academic Recovery and Accessible Learning (ARAL) Program Act on Monday...
LTO seeks to regulate ‘excessive’ driving school fees
Philippine Daily Inquirer, February 27, 2023
Jane Bautista
The Land Transportation Office (LTO) said it was considering standardizing the fees charged to new driver’s license applicants after a lawmaker questioned the “anti-poor” and “very expensive” cost of acquiring the permit...
Pascual welcomes issuance of EO for green lanes
The Manila Times, February 27, 2023
Jenica Faye Garcia
Trade Secretary Alfredo Pascual welcomed the creation of the green lanes for strategic investments as stipulated by Executive Order (EO) 18 signed on Feb. 23, 2023...
Consumer group hits bill on tobacco smuggling
Philippine Star, February 27, 2023
After Php155 million pesos worth of smuggled agricultural products were confiscated in raids conducted by the Bureau of Customs (BoC), the Philippine National Police (PNP), and the Philippine Coast Guard (PCG), a consumer group on Sunday called on Sen. Lito Lapid to "focus on real consumer problems" instead of acting on behalf of the foreign tobacco industry and the local cigarette lobby...
Drug firms say stable regulation key to encouraging investment
BusinessWorld, February 27, 2023
Revin Mikhael D. Ochave
The pharmaceutical industry said further initiatives to streamline permit and approval processes and make regulation predictable will be key to inducing the industry to expand or attract investment...
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DLSU’s robotic medical aid gets Singapore patent
Philippine Daily Inquirer, February 27, 2023
Jane Bautista
A “wearable robot” developed by De La Salle University (DLSU) to help the rehabilitation of stroke and injured patients has received its first international patent from Singapore...
Sri Lanka to launch mobile app to protect tourists
The Manila Times, February 27, 2023
Xinhua News Agency
Sri Lanka is to launch a mobile app from March 1 to protect tourists, Tourism Minister Harin Fernando said on Saturday...
Global study lists PH provinces at most risk of climate damage
Philippine Daily Inquirer, February 27, 2023
Krixia Subingsubing
Several Philippine provinces, most of them in Northern Luzon, are the most at risk of damage from extreme weather to their buildings and other property developments in about two decades, according to a new report on climate risk...
5G experience in PH improving, says analytics firm
Philippine Daily Inquirer, February 27, 2023
Tyrone Jasper C. Piad
The Philippine telecommunications industry has markedly enhanced the 5G live video experience for users, according to independent analytics company OpenSignal...
US agency says COVID-19 likely emerged from China lab leak: reports
Philippine Star, Februaryn 27, 2023
The coronavirus pandemic likely arose from a Chinese laboratory leak, the US Department of Energy now says according to media, although the White House maintained Sunday that American intelligence remained divided on the issue...
Far-reaching UN treaty a must to cut global plastic use - experts
The Manila Times, February 27, 2023
Agence France-Presse
Only a bold and ambitious UN treaty with sweeping reforms of the entire plastic life cycle can stem the world's waste crisis, experts said Monday...
Chinese invasion of Taiwan may test US resolve
BusinessWorld, February 26, 2023
Kyle Aristophere T. Atienza
A possible Chinese invasion of self-ruled Taiwan would be a litmus test for US commitment to its security allies including the Philippines, according to experts...
Putin casts war as a battle for Russia’s survival
Philippine Daily Inquirer, February 26, 2023
Reuters
President Vladimir Putin cast the confrontation with the West over the Ukraine war as an existential battle for the survival of Russia and the Russian people – and said he was forced to take into account Nato’s nuclear capabilities...
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Live births in Philippine post biggest drop in 2021
Philippine Star, February 27, 2023
Louella Desiderio
Registered live births in the country posted the biggest decline in 2021, according to the Philippine Statistics Authority (PSA)...
Senator pushes new GSIS rules
Philippine Daily Inquirer, February 27, 2023
Marlon Ramos
Senate Minority Leader Aquilino Pimentel III on Sunday urged the Government Service Insurance System (GSIS) to formulate new rules that would allow elected public officials and their staff to continue paying for their pension fund contributions even after they leave public office...
Senator: Abolish party-list system
The Manila Times, February 27, 2023
Bernadette E. Tamayo
Sen. Robinhood Padilla on Sunday backed proposals to abolish the party-list system which he said has been "corrupted" and has lost its relevance...
COA shifts from paper-based to digital-driven audits
Philippine Star, February 27, 2023
Elizabeth Marcelo
The Commission on Audit (COA) has moved to modernize its public auditing practice to make the agency resilient in times of crises and emergencies such as the COVID-19 pandemic...
BI: Beware of crypto scammers on Facebook, TikTok
Philippine Star, February 27, 2023
The Bureau of Immigration (BI) is warning Filipinos seeking to work overseas against cryptocurrency scammers who are using social media platforms to defraud workers...
Unspent road users’ charges eyed for pedestrian, bike lanes
Philippine Daily Inquirer, February 27, 2023
Jeannette I. Andrade
Deputy Speaker Ralph Recto wants the Department of Public Works and Highways (DPWH) to include pedestrian and bicycle pathways in its major projects and tap the road users’ charge that the government imposed in 2004, but was unspent in 2021...
Incentives for local pharma, health-care sectors urged
Philippine Daily Inquirer, February 27, 2023
Alden M. Monzon
The Pharmaceutical and Healthcare Association of the Philippines (PHAP) has urged the government to put in place an incentives system specific to the local industry, as well as improve the ease of doing business in the country to entice more investors in this sector...
DOTr receptive to Caloocan transport hub pitch
Philippine Daily Inquirer, February 27, 2023
Tyrone Jasper C. Piad
The Department of Transportation (DOTr) is open to the proposal of the Parañaque Integrated Terminal Exchange (PITX) operator to build an intermodal transport hub in Caloocan City to improve the commuting experience of the public...
SC to hold 1st Shariah law summit
Philippine Daily Inquirer, February 27, 2023
Tina G. Santos
The Supreme Court will hold next week the 1st National Shariah Summit in a bid to address issues challenging the country’s Shariah legal and judicial system and to explore opportunities on how to strengthen the support for Shariah justice in the country...
Cabinet officials take steps to improve investment climate
Philippine Daily Inquirer, February 27, 2023
Jerome Aning
Government officials are taking steps to prepare workers and local businesses to welcome investors who have pledged to invest in the country during President Marcos’ foreign trips...
JV Ejercito: 14 million motorcycles don’t have plates
Philippine Daily Inquirer, February 27, 2023
Marlon Ramos
Some 14 million motorcycles nationwide are plying the streets without license plates, an alarming number that Sen. JV Ejercito on Sunday said should prompt the government to shelve the law mandating two-wheeled vehicles to have bigger plates...
Philippines should work with human rights watchdogs — EU parliamentarian
BusinessWorld, February 26, 2023
John Victor D. Ordoñez
The Government of President Ferdinand R. Marcos, Jr. should work with local civic groups and global human rights watchdogs to improve Philippine efforts to stop impunity, according to a European Union (EU) lawmaker...
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Indian companies keen on further expanding PHL operations
BusinessWorld, February 27, 2023
Alyssa Nicole O. Tan
Indian companies are looking to further expand in the Philippines this year...
Big Philippine banks’ assets up nearly 10% in Q4
BusinessWorld, February 27, 2023
Lourdes O. Pilar
The assets of the Philippines’ largest banks grew by nearly 10% in the fourth quarter of 2022, as economic activity continued to pick up...
Economist sees PH needing more FDIs
The Manila Times, February 27, 2023
Jenica Faye Garcia
The Philippine economy is among the fastest growing in the Indo-Pacific Region but needs foreign direct investments (FDIs) to sustain that growth, economist Dr. Bernardo Villegas said...
PHL preparing for surge in FDI with skills upgrade initiatives
BusinessWorld, February 27, 2023
Kyle Aristophere T. Atienza
The Palace said the expected surge in investment will be met with programs to upskill the workforce...
DA sets upgrade of rice processing facilities to cut postharvest losses
Philippine Daily Inquirer, February 27, 2023
Jordeene B. Lagare
The Department of Agriculture (DA) is aiming to reduce postharvest losses in rice by improving processing centers across the country...
NLEx, SCTEx upgrades set by tollway operator
The Manila Times, February 27, 2023
NLEX Corp. is spending P282.5 million to improve electronic toll collection and traffic management systems in a bid to provide safer and convenient expressway travel...
Investors to calibrate next move based on fresh economic signals
Philippine Daily Inquirer, February 27, 2023
Tyrone Jasper C. Piad
Investors are expected to take cues from a fresh set of macroeconomic data this week as they gauge whether they will hold on to their positions or sell some of their holdings...
Metro Pacific allots P282.5M to improve systems in tollways
BusinessWorld, February 27, 2023
Justine Irish D. Tabile
A unit of Pangilinan-led Metro Pacific Tollways Corp. (MPTC) is setting aside P282.5 million to enhance its electronic toll collection and traffic management systems...
Ecozones expected to reap FDI unlocked by RCEP
BusinessWorld, February 26, 2023
Justine Irish D. Tabile
Economic zones are expected to reap the benefits of the recently approved Regional Comprehensive Economic Partnership (RCEP) in the form of more diverse sources of foreign direct investment (FDI), according to the Philippine Economic Zone Authority (PEZA)...
Gen Zs buying up ‘athleisure’ items
Philippine Daily Inquirer, February 27, 2023
Alden M. Monzon
Sports-related items emerged among the most bought items online by GenZs in Southeast Asia, according to fashion e-commerce platform Zalora, offering a glimpse into the buying preferences of this generation aged 9 to 24 years old...
EU GSP+ renewal pitched as also beneficial to foreign investors
BusinessWorld, February 26, 2023
Revin Mikhael D. Ochave
The Department of Trade and Industry (DTI) said foreign investors also stand to benefit from the renewal of Philippine privileges under the European Union’s (EU) Generalized Scheme of Preferences Plus (GSP+)...
Airport bus services seen benefiting from special lanes
BusinessWorld, February 26, 2023
Beatriz Marie D. Cruz
The use of airport bus services could expand with the provision of special lanes, which would encourage broader use and reduce vehicle congestion along the main gateways, a transportation industry analyst said...
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