Philippines places 16th in 26-country Asia Power Index

Source: BusinessWorld

Inflation in the Philippines went up even higher at 8.7 percent in January 2023, faster than 8.1 percent in December 2022 that was thought to have been the peak, according to the Philippine Statistics Authority...

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Monetary authorities will likely raise key interest rates by 25 basis points (bps) next week and follow this up with an identical increase in March, an economist said on Monday...

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The most powerful earthquake in nearly a century struck Turkey and Syria early Monday, killing over 1,200 people in their sleep, levelling buildings and causing tremors felt as far away as Iraq...

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The arrest of a university professor for an alleged labor violation drew outrage in her own community, which cited an accord with the Department of the Interior and Local Government (DILG) restricting police presence in the campus...

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Office vacancies in Metro Manila will likely continue to rise despite stable demand, due to the spillover effect of excess supply left over from 2022, according to JLL Philippines...

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The Philippines continued to post more than a thousand weekly coronavirus infections, with 145 daily cases on average on Jan. 30 to Feb. 5, according to the Department of Health (DoH)...

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Three lawmakers have filed bills granting the same benefits to police officers who reach the mandatory retirement age of 56 and those forced to retire earlier after being permanently disabled in the line of duty...

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OFW party-list Rep. Marissa "Del Mar" Magsino introduced House Resolution 743 on Monday, which calls for a review and assessment of bilateral labor agreements (BLAs) signed by the Philippines with countries of destination...

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The Philippine corporate watchdog is moving to regulate cryptocurrencies such as Bitcoin, Ether and other related digital assets, as it seeks to upgrade rules that go back nearly a century...

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The city councils of Quezon, Caloocan, Malabon, Navotas and Valenzuela will pass ordinances on the adoption of the Single Ticketing System earlier approved by the Metro Manila Council...

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A draft legislation passed on third and final reading at the House of Representatives aims to require companies and employers to settle a downpayment upon hiring freelancers...

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President Ferdinand R. Marcos, Jr. has secured project commitments from Brazilian company Datagro to boost the Philippines sugar industry, the presidential palace said on Monday night...

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Google owner Alphabet Inc on Monday said it will launch a chatbot service and more artificial intelligence for its search engine as well as developers, an answer to Microsoft Corp in their rivalry to lead a new wave of computing...

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France is set to announce new measures this week to prevent minors from accessing porn websites, in the latest round of a years-long struggle to protect children from explicit material...

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Armed with the world’s largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable for the electric vehicle (EV) industry, which uses the metal extensively...

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Cagayan de Oro City Rep. Rufus Rodriguez on Monday pushed for the inclusion of Pag-asa Island off the coast of Palawan province as a possible site under the Enhanced Defense Cooperation Agreement (Edca) with the United States to deter further aggression from China in the disputed West Philippine Sea (WPS)...

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Two Philippine Coast Guard (PCG) ships have been deployed to an area in the West Philippine Sea where a Philippine Navy ship was "shadowed" by Chinese maritime militia vessels last week...

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The Armed Forces of the Philippines (AFP) announced on Monday that the 38th iteration of the annual Balikatan Exercises has been scheduled for this April....

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The Philippines is "ready to help in whatever way it can" to Turkey and Syria which were hit by a massive earthquake Monday, President Ferdinand Marcos Jr. said...

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Stock markets slid and the dollar firmed Monday after the latest round of robust US economic data fanned expectations of more Federal Reserve interest rate hikes...

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China’s economy is expected to contribute a quarter of global growth this year, the International Monetary Fund (IMF) said Friday, although uncertainty around COVID-19 and the property sector could stifle momentum...

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A US decision to shoot down a Chinese balloon that Beijing claimed had veered off course has "seriously impacted and damaged" relations between the two countries, China's foreign ministry said Monday...

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A major earthquake struck Turkey and Syria on Monday, killing more than 3,800 people and flattening thousands of buildings as rescuers dug with bare hands for survivors...

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President Joe Biden said on Monday that relations between Washington and Beijing were not weakened by the United States’ downing of a suspected Chinese spy balloon over the weekend...

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North Korea stole more cryptocurrency assets in 2022 than in any other year and targeted the networks of foreign aerospace and defense companies, according to a currently confidential United Nations report seen by Reuters on Monday...

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Australia on Monday asked China to resume "unimpeded trade" as ministers from the two countries held talks to repair their strained relationship...

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North Korea has scheduled a major political conference to discuss the "urgent task" of improving its agricultural sector, a possible sign of worsening food insecurity as the East Asian country's economic isolation deepens amid a defiant nuclear weapons push...

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More than 500 people were killed and thousands injured on Monday, after a major earthquake of magnitude 7.8 struck central Turkey and northwest Syria, collapsing buildings and triggering searches for survivors in the rubble...

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The US military said on Sunday it is searching for remnants of the suspected Chinese surveillance balloon it shot down a day earlier, while Beijing on Monday urged Washington not to escalate or take further action to harm its interests...

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Polluting single-use plastic production rose by 6 million tons per year from 2019 to 2021 despite tougher worldwide regulations, with producers making “little progress” to tackle the problem and boost recycling, new research showed on Monday...

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The Land Transportation and Franchising Regulatory Board (LTFRB) has decided to extend the franchise validity of traditional passenger jeepneys, giving their operators and drivers more time to form cooperatives for the government’s public utility vehicle (PUV) modernization program...

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Mindanao can expect additional investor interest and economic activities following the start of Wholesale Electricity Spot Market (WESM) operations there, President Ferdinand "Bongbong" Marcos Jr. said on Monday...

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Giving more benefits to former presidents, such as augmenting their security detail, will not affect state coffers, Sen. Ronald dela Rosa said on Monday as he defended a proposal that he and three other allies of former President Rodrigo Duterte had filed...

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The Department of National Defense (DND) on Monday gave its all-out support for the proposed revival of the Reserved Officers Training Course (ROTC), just days after their officials received a dressing down from its main proponent, Sen. Ronald dela Rosa, when they expressed their concerns about the program...

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The number of daily confirmed COVID-19 cases has dropped to its lowest since the pandemic was declared in March 2020...

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An official of Barangay España, San Fernando, Romblon on Monday said that the human barricade of residents will continue despite the suspension order issued by the Department of Environment and Natural Resources (DENR) Mimaropa Regional Office against Altai Philippines Mining Company (APMC)...
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Philippine congressmen on Monday welcomed the Marcos government’s decision to give the United States access to four more military bases, saying it would help deter China’s aggression in the South China Sea...

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A Senator has sought a probe of nickel and metallic mining operations on Sibuyan island in Romblon province south of the Philippines after residents set up a human barricade to block these activities...

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Department of Trade and Industry (DTI) Secretary Alfredo Pascual recognized the need for the country's integration into the Regional Comprehensive Economic Partnership (RCEP) as it will lead toward a more investment-friendly country...

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The Philippine stock market opened the week down ahead of the release of January inflation data this week...

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The Department of Agriculture (DA) approved a suggested retail price (SRP) of P125 a kilo for imported red onions in the National Capital Region (NCR) starting on Wednesday...

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Local fuel prices decreased by as much as P3 per liter on Tuesday, a week after they went up by P1 to P1.35. In separate advisories, oil companies announced cuts in the prices per liter of gasoline (P2.10), diesel (P3) and kerosene (P2.30)...

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The national government raised P15 billion as planned with mixed results on the cost of Treasury bills compared with the previous auction, but all rates were lower than done deals at the secondary market...

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The Philippine Ports Authority (PPA) on Monday said the costs associated with using port facilities and services will be cut by nearly half with the planned automated system for tracking shipping containers, contrary to what a number of business groups opposing the move claimed last week...

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The Philippine economy could grow by as much as 8-10% if the government can address the gaps in agriculture, investment, and good governance, according to economists...

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Gloria L. Japon, a 48-year-old public school teacher from Cavite south of the Philippine capital, admits struggling to pay her housing loan in the face of spiraling prices...

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Manila Water Co., Inc. on Monday said that it would submit its completion plan to build and operate water, sewerage and sanitation projects until 2037...

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Office rental rates are projected to go up by as much as 2% this year, thanks to anticipated demand from companies looking to outsource operations to the Philippines, Cushman & Wakefield said...

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The Department of Trade and Industry (DTI) said the Philippines cannot afford further delay in joining the Regional Comprehensive Economic Partnership (RCEP) trade agreement...

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The National Electrification Administration (NEA) said it is in talks with the Department of Energy (DoE) to allow microgrid operators to step in and help resolve the looming power shortage in off-grid areas caused by high diesel prices...

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The Asian Development Bank (ADB) said it is considering providing financing for the Philippine expansion of Dali Modern Food Retail, a discount grocery chain, to increase access to groceries for the poor and boost female employment...

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The Technical Education and Skills Development Authority (TESDA) said it trained nearly 29,000 repatriated overseas Filipino workers (OFWs) and their dependents in 2022...

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