Manila jumps in 2023 list of top real estate investment destinations

Source: BusinessWorld

Private economists polled by the Bangko Sentral ng Pilipinas last month expect 2023 inflation to hit 5.1 percent, breaching the Monetary Board's (MB) 4.5-percent forecast...

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The Philippine economy likely expanded by at least 7.5% in 2022, Finance Secretary Benjamin E. Diokno said on Thursday...

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President Ferdinand "Bongbong" Marcos Jr. will "introduce" the proposed Maharlika Wealth Fund (MWF) on the world stage during his trip to Davos, Switzerland next week, the Department of Foreign Affairs (DFA) said Thursday...

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Natural disasters, debt crises, and high inflation are the top risks for the Philippines in the next two years, according to a survey conducted by the World Economic Forum (WEF)...

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The Philippine economy is expected to grow at a slower pace of six percent this year amid risks such as slower global growth, high inflation and rising interest rates. During a briefing by First Metro Investment Corp. (FMIC), University of Asia and Pacific (UA&P) economist Victor Abola said the economy is expected to grow by six percent from the projected 7.3 percent growth last year...

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Countries have yet to see the full impact of tightening financial conditions, IMF chief Kristalina Georgieva said Thursday, warning that central banks have some way to go in their inflation battle...

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Sugar imports from within the Association of Southeast Asian Nations (ASEAN) are expected to yield the Philippines savings of $480.82 per metric ton, the United States Department of Agriculture (USDA) said...

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Senior Citizen party-list Rep. Rodolfo Ordanes on Thursday renewed his call for the full funding of Republic Act (RA) 11916 or the "Social Pension Act" that lapsed into law on July 30, 2022...

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The Makabayan bloc has filed House Bill 6738, or the Magna Carta of Air Passengers rights...

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Business groups have renewed their opposition against a Philippine Ports Authority (PPA) order prescribing the registration and monitoring of shipping containers, saying the regulation only adds to the costs for companies and consumers...

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Information technology and business process management (IT-BPM) firms have been given more time to transfer their registrations in order to continue enjoying incentives while implementing remote work arrangements...

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The Department of Foreign Affairs (DFA) is coming up with "parameters" that will guide the Philippines in any future oil and gas ventures amid the Supreme Court ruling that voided a marine seismic agreement the Philippines forged with China and Vietnam...

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Despite the volatility of input prices in the international market, the Department of Trade and Industry (DTI) said it is hopeful that it would still be able to finalize commodity prices by the end of January for an updated suggested retail price (SRP) bulletin...

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A 3D printer is taking home building to a new level — literally.

The enormous printer weighing more than 12 tons is creating what is believed to be the first 3D-printed, two-story home in the United States...

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The Makati Business Club (MBC) has offered to assist the Energy Regulatory Commission (ERC) in enhancing its daily operating procedures through digitalization...

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The US Trade and Development Agency (USTDA) said it plans to expand its footprint here in the Philippines in order to help meet the demands of the Philippine market and in recognition of the Philippine market...

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International cooperation is needed to address the polycrisis affecting many developing countries such as the Philippines, Finance Secretary Benjamin Diokno said...

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China on Thursday reaffirmed its commitment to joint maritime exploration with the Philippines in the South China Sea despite a decision by the Supreme Court striking down as unconstitutional a 2005 deal among the Philippines, China and Vietnam...

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Joint oil and gas exploration in the South China Sea between the Philippines and China remains a possibility even after the Supreme Court declared as unconstitutional the 2005 Joint Marine Seismic Undertaking (JMSU)...

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The International Monetary Fund is not expected to downgrade its forecast for 2.7 percent growth in 2023, the head of the global lender said on Thursday, noting that concerns about an oil price spike had failed to materialize and labor markets remained strong...

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The World Health Organization (WHO) reiterated on Wednesday the need for China to share more data on its explosive coronavirus outbreak, while praising Washington's "radical transparency" in its efforts to battle a new subvariant...

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Global stocks mostly rose Thursday as investors digested data showing a softening of US consumer inflation, potentially giving the Federal Reserve room to slow its interest rate hikes...

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The world's oceans, which have absorbed most of the excess heat caused by humanity's carbon pollution, continued to see record-breaking temperatures last year, according to research published Wednesday...

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The past eight years were the hottest since records began, the United Nations confirmed Thursday, despite the cooling influence of a drawn-out La Nina weather pattern...

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The United States said Wednesday that attacks in space would invoke its defense treaty with Japan and announced the deployment of a more agile Marine unit on its ally's soil as alarm grows over China...

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Consumer inflation in the United States is set to ease further in December, analysts say, in an encouraging trend that could bring some reprieve from rising interest rates...

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The White House will discuss a recent crackdown on exports of chip-making tools to China with Japanese and Dutch officials during upcoming visits, but they will not result in “immediate” pledges from the two countries to impose similar curbs, a person familiar with U.S. officials’ thinking said on Thursday...

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U.S. airline operations returned to normal on Thursday even as the Federal Aviation Administration (FAA) investigates the cause of a computer outage that grounded flights nationally and seeks to prevent it from happening again...

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The Department of Trade and Industry (DTI) aims to release suggested retail prices (SRPs) for basic necessities and prime commodities (BNPCs) this month as it continues to evaluate price increase requests from manufacturers...

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The Department of Budget and Management (DBM) has earmarked P1.3 billion to cover the government’s service contracting program (SCP), where free rides are provided to commuters in and out of the metro...

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There will be no fare hike just yet for the Light Rail Transit’s (LRT) Lines 1 and 2 as the proposed fare adjustment earlier approved by the Land Transportation Franchising and Regulatory Board (LTFRB) still has to undergo regulatory process, according to the train operator...

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Newly appointed Defense Secretary Carlito Galvez Jr. pledged on Thursday to protect the integrity of the promotion system at the Armed Forces of the Philippines, as he called on the country’s leaders to “respect the traditions and power” of the military top brass in the appointment of key officials...

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Senators on Thursday castigated the Civil Aviation Authority of the Philippines (Caap) for alleged lax security as aviation authorities remain clueless about the root cause of the massive disruption of flights on New Year’s Day...

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A Filipino infectious disease expert has echoed the observation of the World Health Organization that the Covid-19 pandemic will end in 2023...

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Kadiwa stores run by the Department of Agriculture will stop selling cheaper onions beginning today, Friday, as its agreement with Food Terminal Inc. (FTI), the supplier of the precious commodity, ended last December 31, 2022...

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Commuters may again avail themselves of the “Libreng Sakay” (free rides) program on the Edsa Busway System after the Department of Budget and Management (DBM) confirmed fresh funding for the transport project that was introduced two years ago at the height of the pandemic...

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Vice President and Education Secretary Sara Duterte has tapped her chief of staff in the Department of Education (DepEd) to take charge of programs related to school infrastructure and facilities...

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The agency said that SIM registration has been completed for 10.13 percent of the 169 million subscribers nationwide, with 17,115,910 registered as of January 10...

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The planned purge of police officers with alleged drug links continued down to the lower ranks of the Philippine National Police in Metro Manila after almost 90 percent the country’s police colonels and generals had tendered their courtesy resignations, according to a statement by the national capital police...

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The Department of Foreign Affairs (DFA) on Thursday said that the controversial Swiss bank accounts of President Ferdinand "Bongbong" Marcos Jr. are "non-issue" during his upcoming trip to Switzerland next week...

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The Bangko Sentral ng Pilipinas (BSP) may slash the reserve requirement ratio (RRR) before the end of the first half if inflation starts to slow down...

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Despite the bill for its creation still pending in Congress, the Maharlika Investment Fund (MIF) will already be “soft launched” by President Ferdinand R. Marcos Jr. at the 2023 World Economic Forum (WEF) in Davos, Switzerland next week to help attract more investments in the country...

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The Department of Transportation (DOTr) has vowed to support the modernization program of the Philippine Coast Guard (PCG), citing its vital role in maritime safety and security...

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The Light Rail Transit Authority (LRTA) on Thursday said the proposed increase in railway fares might still have to undergo a public hearing, its administrator said...

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The Supreme Court (SC) affirmed an appeals court decision to deny a seafarer’s permanent disability claim worth $60,000, saying the claim was filed prematurely...

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The supply of eggs remains “somewhat” stable with the United Broiler Raisers Association (Ubra) expecting demand for this key source of protein to eventually decline as Filipino families continue to grapple with the rising costs of other food commodities...

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Bad debts of Philippines banks continued to fall, translating to a lower non-performing loan (NPL) ratio for nine consecutive months to hit its lowest level in more than two years, according to the Bangko Sentral ng Pilipinas (BSP)...

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The retail price of onions in Metro Manila dropped to P340 to P550 per kilo on Thursday, days after the Department of Agriculture (DA) announced the country will import 21,060 metric tons (MT) of bulbs...

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The Bureau of Plant Industry (BPI) said on Thursday that at least 12,417 metric tons (MT) of imported rice arrived in the country, the first batch for this year, noting that the importation of the staple grain in 2022 reached 3.8 million metric tons (MMT)...

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Sugar imports are not urgently needed and shipments sought by the government should instead arrive in May so as not to affect the ongoing milling season, a Sugar Regulatory Administration (SRA) board member said on Thursday...

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The Philippine stock market recovered yesterday as Wall Street continued its rally...

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The uptick in local retail egg prices is caused by the “unjustified” mark-up by middlemen and retailers, the Philippine Egg Board Association (PEBA) said...

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The Bangko Sentral ng Pilipinas (BSP) may cut key benchmark rates in 2024, as well as lower the reserve requirements for banks in the first half of 2023, its chief said on Thursday...

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Natural disasters are considered the top risk faced by the Philippines over the next two years, alongside a possible debt crisis, rising inflation and misinformation, according to a survey conducted by the World Economic Forum (WEF)...

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Real estate investment trusts (REITs) are expected to benefit from the further reopening of the economy, but their growth could be tempered by flexible work arrangements and the departure of Philippine offshore gaming operators (POGO), analysts said...

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THE Fiscal Incentives Review Board (FIRB) said it expects to complete soon uniform rules to govern the suspension or withdrawal of tax incentives from registered enterprises that do not comply with the conditions of the grant, the Department of Finance (DoF) said on Thursday...

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Eighty-one percent (81%) of adult Filipinos would prefer to go into business – granting they had enough know-how to do so, according to the results of a survey conducted in October 2022 by OCTA Research, a private polling, research, and consultation firm...

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The Philippine service industry has achieved sufficient scale to start exploring diversification into new markets even during the looming global recession, economists said...

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