January 11, 2023
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Philippine trade year-on-year performance
Source: BusinessWorld
Trade deficit narrows as imports fall by 1.9%
The Manila Times, January 11, 2023
Eireene Jairee Gomez
The country's trade deficit narrowed in November as imports contracted, Philippine Statistics Authority (PSA) data showed on Tuesday...
'Blockbuster' bond sale raises $3B
The Manila Times, January 11, 2023
Eireene Jairee Gomez
The Marcos government raised a total of $3 billion from its second foray into the global bond market, the Bureau of Treasury (BTr) announced on Tuesday...
NEDA sees inflation easing
Philippine Star, January 11, 2023
Louella Desiderio
The country’s inflation rate could start easing in the coming months, the National Economic and Development Authority (NEDA) said...
Medalla: FSCC upbeat on PH growth prospects
The Manila Times, January 11, 2023
Eireene Jairee Gomez
Capital investments, consumption, and a strong banking system should allow for continued Philippine economic growth, the chief of the Financial Stability Coordination Council (FSCC) said...
Medalla sees 25-50 bps hike in Feb. meeting
BusinessWorld, January 11, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) is likely to raise benchmark interest rates by 25 or 50 basis points (bps) at its meeting in February, its governor said, citing the need to anchor inflation expectations...
PHL working to exit FATF ‘gray list’
BusinessWorld, January 11, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) hopes the country can exit the Financial Action Task Force’s (FATF) “gray list” of jurisdictions under increased monitoring for “dirty money” risks within the next 12 months after failing to meet its original January 2023 goal...
Marcos approves onion importation
The Manila Times, January 11, 2023
Bella Cariaso
President Ferdinand "Bongbong" Marcos Jr. has approved the importation of 21,060 metric tons of onions, 940 MT less than the recommendation of the Department of Agriculture (DA) of 22,000 MT...
‘Exploration deal unconstitutional’
BusinessMirror, January 11, 2023
Joel R. San Juan
The Supreme Court (SC) on Tuesday declared as unconstitutional the tripartite agreement for Joint Marine Seismic Undertaking (JMSU) entered into by the Philippine government with China and Vietnam during the term of President Gloria Macapagal-Arroyo in 2005...
WHO: Only 36.8% of ages 5-11 vaccinated vs COVID-19
Philippine Star, January 11, 2023
Rhodina Villanueva
Only 36.8 percent of children aged 5 to 11 have received their first dose of the COVID-19 vaccine, according to the latest report of the World Health Organization (WHO)...
SEC issues rules on Sustainable and Responsible Investment Funds
The Manila Times, January 11, 2023
Kelvin Lester K. Lee
The Securities and Exchange Commission (SEC) issued guidelines on Sustainable and Responsible (SRI) funds to encourage the expansion of sustainability-related products in the market and to provide direction on the disclosures and reporting of investment companies classified as SRI funds...
Benefits for journalists in conflict zones sought
Philippine Daily Inquirer, January 11, 2023
Julie M. Aurelio
A lawmaker is pushing for death and disability benefits, medical reimbursement as well as tax-exempt hazard pay for journalists deployed in calamity and conflict areas and war zones...
BIR tells vape traders to comply with BIR and DTI requirements
Philippine Daily Inquirer, January 10, 2023
The Bureau of Internal Revenue (BIR) directed all distributors and sellers of vape products in the country to comply fully with the business registration requirements and other tax obligations of the government to avoid penalties...
Chatbot to aid HCWs deliver maternal health services
BusinessWorld, January 11, 2023
Brontë H. Lacsamana
A chatbot designed to complete administrative tasks will roll out in more communities as part of a joint effort between Save the Children Philippines and Johnson & Johnson Philippines, Inc., to improve newborn and maternal healthcare...
Starlink Aviation Takes First Flight With airBaltic
Philippine Daily Inquirer, January 11, 2023
Dale Arasa
Do you want better internet during a long flight? You could soon enjoy that feature with airBaltic and Starlink Aviation...
Stop and smell the metaverse roses: Virtual world on display at CES
Philippine Star, January 11, 2023
Julie Jammot
Immersive technologies that can better lives, whether helping people treat dementia or learn to pilot fighter jets, is the future of the metaverse, virtual reality startups say...
UFO or Chinese rocket ‘crash’? Truth may be simpler
Philippine Daily Inquirer, January 11, 2023
Geraldford Ticke
When social media was set abuzz by reports of an explosion and a flash of light in the skies over southern Palawan on Saturday night, netizens asked: “Was it a UFO or a space rocket?”
How 'powerful' is the Philippine passport? Not very, according to the Passport Index’
Philippine Star, January 11, 2023
With visa-free entry to 34 countries and territories and visa-on-arrival at 41, the Philippine passport ranked 66th on the Passport Index...
5G subscription in PHL seen rising at ‘brisk pace’
BusinessWorld, January 11, 2023
Arjay L. Balinbin
The total revenue of telecommunications companies in the Philippines is expected to increase at a compound annual growth rate (CAGR) of 4% during 2021-2026, with subscriptions to fifth-generation (5G) services seen growing at a “brisk pace,” according to London-based data analytics company GlobalData Plc...
Philippine court voids oil deal with China, Vietnam
BusinessWorld, January 10, 2023
John Victor D. Ordoñez
The Philippine Supreme Court (SC) has voided a 2005 government deal with China and Vietnam for joint gas and oil explorations in the South China Sea...
WHO urges travelers to wear masks as new COVID variant spreads
Philippine Daily Inquirer, January 11, 2023
Reuters
Countries should consider recommending that passengers wear masks on long-haul flights, given the rapid spread of the latest Omicron subvariant of COVID-19 in the United States, World Health Organization (WHO) officials said Tuesday...
China suspends visas for SKoreans over curbs
The Manila Times, January 11, 2023
Agence France-Presse
China has suspended issuing short-term visas to South Koreans in response to Seoul's imposition of travel restrictions on Chinese travelers over coronavirus concerns, Beijing's embassy said on Tuesday...
Hackers hit websites of Danish central bank, other banks
Philippine Daily Inquirer, January 11, 2023
Reuters
Hackers have disrupted access to the websites of Denmark’s central bank and seven private banks in the country this week, according to the central bank and an IT firm that serves the industry...
China retaliates against S.Korea, Japan over COVID restrictions
BusinessWorld, January 10, 2023
Reuters
China began retaliating on Tuesday against South Korea and Japan, two of the countries which have imposed COVID-19 curbs on travelers from China, the last major economy to reopen its borders after three years of isolation...
Hurricanes, floods bring $120 billion in insurance losses in 2022
BusinessWorld, January 10, 2023
Reuters
Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more intense and frequent...
DICT targets 1-M SIM registrations everyday
The Manila Times, January 11, 2023
Francis Earl Cueto
The Department of Information and Communications Technology said on Tuesday that they are targeting a daily registration of one million subscriber identity module (SIM) cards per day...
Ombudsman summons DA, FTI execs over onion purchase
Philippine Daily Inquirer, January 11, 2023
Dempsey Reyes
The Office of the Ombudsman has summoned officials of the Department of Agriculture (DA) and the Food Terminal Inc. (FTI) over their procurement of some P140 million worth of onions from a Nueva Ecija cooperative at P537 per kilogram and the decision to import the produce just when the local harvest season is about to start...
Suspension of water rate hike pushed
Philippine Daily Inquirer, January 11, 2023
Julie M. Aurelio
Citing the high prices of basic goods and services, Makabayan lawmakers are pushing for the immediate suspension of the implementation of the water rate hike this year for Metro Manila consumers...
House to probe alleged existence of ‘cartel,’
anti-competitive practices in onion industry
BusinessMirror, January 11, 2023
Jovee Marie De la Cruz
A leader of the House of Representatives has filed Resolution 681 directing two committees of the lower chamber to look into the alleged anti-competitive practices, the alleged existence of a cartel in the onion industry and the sufficiency of the interventions of the Philippine Competition Commission (PCC) on the matter...
Suspension of water rate hike pushed
Philippine Daily Inquirer, January 11, 2023
Julie M. Aurelio
Citing the high prices of basic goods and services, Makabayan lawmakers are pushing for the immediate suspension of the implementation of the water rate hike this year for Metro Manila consumers...
COVID-19 cases seen to remain below 1,000
Philippine Daily Inquirer, January 11, 2023
Kathleen de Villa
The country’s COVID-19 cases will remain below 1,000 by the middle of next month, according to the latest forecasts by the Department of Health (DOH), which does not expect a rapid spike in infections despite the recent holiday gatherings and threat of new COVID-19 strains...
Total registered prepaid SIM card hits 16M despite kinks
BusinessMirror, January 11, 2023
Lenie Lectura
The number of registered prepaid Subscriber Identity Module (SIM) cards has reached 16 million, the Department of Information and Communications Technology (DICT) said Tuesday...
DepEd eyes new K-12 curriculum
The Manila Times, January 11, 2023
Catherine S. Valente
The Department of Education (DepEd) is considering revising the Kinder to Grade 12 (K to 12) curriculum to improve the state of basic education in the country, Malacañang said on Tuesday...
Campus publications protest Meta’s censorship
Philippine Daily Inquirer, January 11, 2023
Krixia Subingsubing
Social media giant Meta’s takedown of progressive statements and pages are akin to “digital martial law,” campus publications said on Tuesday after the platform deleted some of their contents and tagged them as spam...
Tesda inks 667 local, foreign partnerships in bid to strengthen TVET in PHL
BusinessMirror, January 11, 2023
Roderick Abad
The Technical Education and Skills Development Authority (Tesda) reported that it ended 2022 with a total of 667 deals with local and international stakeholders to further strengthen the technical vocational education and training (TVET) in the Philippines...
Voter registration falls below target
The Manila Times, January 11, 2023
William B. Depasupil
Barely three weeks before the end of the voter registration period, registration centers around the country remain almost empty as there have been very few applicants since the Commission on Elections (Comelec) opened the registration period on Dec. 12, 2022...
PNP identifies destabilization rumormongers
The Manila Times, January 11, 2023
Francis Earl Cueto
The Philippine National Police (PNP) on Tuesday said it had identified sources of a supposed memorandum that circulated in social media stating that the PNP is being placed on high alert because of rumors of a destabilization plot at the Armed Forces of the Philippines (AFP)...
As PNP top execs ‘quit,’ promotions approved below
Philippine Daily Inquirer, January 11, 2023
Dexter Cabalza
While the highest officials of the Philippine National Police are being asked to submit their courtesy resignations, more than 43,000 lower-ranked officers have been promoted...
LTFRB orders Grab PH to explain hiked minimum fare
Philippine Daily Inquirer, January 11, 2023
Mariejo S. Ramos
The Land Transportation Franchising and Regulatory Board (LTFRB) has asked Grab Philippines to explain why it was reportedly charging a minimum fare of P85 during nonpeak hours or for short-distance trips, a rate yet to be authorized by the agency...
LTFRB deploys ‘rescue’ buses along EDSA Carousel
Philippine Daily Inquirer, January 11, 2023
John Eric Mendoza
The Land Transportation Franchising and Regulatory Board (LTFRB) has deployed 42 additional buses along EDSA Carousel to help ease long passenger queues during peak hours...
Marcos to DOJ: Release inmates qualified for parole
Philippine Star, January 11, 2023
Helen Flores
To decongest the country’s jail facilities, President Marcos has ordered the Department of Justice (DOJ) to continue releasing inmates who are qualified for parole...
BCDA, DOST put up virology institute
Philippine Star, January 11, 2023
Catherine Talavera
The Bases Conversion and Development Authority (BCDA) and the Department of Science and Technology (DOST) have committed to work together for the smooth and immediate completion of the five-hectare virology and vaccine Institute of the Philippines (VIP) in New Clark City in Capas, Tarlac...
Philippines detects 128 more cases of Omicron subvariants
Philippine Star, January 11, 2023
Gaea Katreena Cabico
The Philippines has detected 128 cases of Omicron subvariants, latest data from the Department of Health showed...
More Philippine Defense officials quit
BusinessWorld, January 10, 2023
Kyle Aristophere T. Atienza
More senior officials of the Defense department have quit after Jose Faustino, Jr. resigned as secretary. At least seven more officials who held undersecretary and assistant secretary positions submitted their resignation letters to newly installed Defense Secretary Carlito G. Galvez, Jr., agency spokesman Arsenio R. Andolong told reporters on Tuesday...
Gov’t looking at privatizing Manila airport
BusinessWorld, January 10, 2023
Beatriz Marie D. Cruz
The Philippine government is looking at privatizing Manila’s international airport, the Transportation department told congressmen probing the air traffic glitch that paralyzed the country’s airports on New Year’s Day...
Philippines must boost financial system’s resilience amid volatile conditions’
BusinessWorld, January 11, 2023
K.B. Ta-asan
The Philippines needs to improve the financial system’s resilience and preparedness amid volatile and uncertain market conditions due to tighter monetary policy here and abroad, the Financial Stability Coordination Council (FSCC) said in its annual report...
FDIs eke out gains in October amid headwinds
Philippine Star, January 11, 2023
Ramon Royandoyan
Foreign direct investments posted modest gains in October, but roiling global headwinds could result in a smaller haul by the end of 2022...
BTr makes full award of reissued bonds on robust investor demand
BusinessWorld, January 11, 2023
A.M.C. Sy
The government fully awarded the reissued 25-year Treasury bonds (T-bonds) it auctioned off on Tuesday amid strong investor demand, which drove the series’ average rate down...
BSP: Higher interest rates to keep inflation in check
BusinessMirror, January 11, 2023
Cai U. Ordinario
The Bangko Sentral ng Pilipinas (BSP) intends to continue raising interest rates as a precautionary measure against the second round effects of inflation...
Study finds Filipinos upbeat on incomes
The Manila Times, January 11, 2023
Eireene Jairee Gomez
Filipinos are optimistic about their household income but are wary of recession and spending this year, TransUnion Philippines found in its latest quarterly Consumer Pulse Study...
Government banks on imports to temper onion prices
BusinessMirror, January 11, 2023
Jasper Y. Arcalas and Samuel P. Medenilla
The Department of Agriculture (DA) greenlit the importation of 21,060 metric tons (MT) of fresh yellow and red onions to temper the commodity’s retail prices, which have skyrocketed to more than P700 per kilogram in recent weeks...
‘Airlines lost over ₧100M from airspace shutdown’
BusinessMirror, January 11, 2023
Ma. Stella F. Arnaldo
Airlines may have lost “over P100 million” due to the electrical trip that caused the shutdown of government’s air traffic control management system on New Year’s Day...
Peso back at P54:$1 but stock market dips
The Manila Times, January 11, 2023
Eireene Jairee Gomez and Ed Paolo Salting
The peso returned to the P54:$1 level on Tuesday, gaining for a fourth straight trading day in its strongest showing in over six months...
Fewer IPOs seen in 2023 as inflation, rising interest rates make investors uneasy
Philippine Star, January 11, 2023
Ramon Royandoyan
Expect companies to shy away from going public this year, as rising inflation and high-interest rates are keeping investors cautious...
Onion importers given until Jan. 27 to land their shipments
BusinessWorld, January 10, 2023
Ashley Erika O. Jose and Alyssa Nicole O. Tan
Onion importers cleared to ship in 21,060 metric tons (MT) of the produce have been given until Jan. 27 to bring in their cargoes in order not to unduly interfere with market conditions during the domestic onion harvest, the Department of Agriculture (DA) said...
Ports authority says Calapan terminal, largest in PHL, due to open in March
BusinessWorld, January 10, 2023
Arjay L. Balinbin
The Philippine Ports Authority (PPA) said on Tuesday that the country’s largest passenger terminal building is due to open in March at the Port of Calapan, Oriental Mindoro...
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