January 17, 2023
Philippines at ‘high’ risk for humanitarian crises and disasters
Source: BusinessWorld
Cash remittances hit 6-month low
BusinessWorld January 17, 2023
Keisha B. Ta-asan
Money sent home by overseas Filipino workers (OFWs) in November grew by 5.7% to $2.644 billion, the lowest amount in six months, data from the Bangko Sentral ng Pilipinas (BSP) showed...
Fitch Solutions sees PH growth slowdown
The Manila Times, January 17, 2023
Eireene Jairee Gomez
The Philippines' growth momentum will likely slow over the coming quarters, Fitch Solutions said on Monday, mainly due to factors such as high inflation, continued interest rate hikes and weakening external demand...
Davos forum great venue to present Maharlika fund, says economist
Philippine Daily Inquirer, January 17, 2023
Jerome Aning, Marlon Ramos
The World Economic Forum (WEF) is a great venue for President Ferdinand Marcos Jr. to present the Maharlika Investment Fund (MIF) to see the reception of other countries to the proposed sovereign wealth fund, a Filipino-Canadian economist said on Monday...
BSP rate may peak at 6.25% in 1st half
BusinessWorld, January 17, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) could raise its benchmark rate by as much as 75 basis points (bps) to bring the policy rate to 6.25% in the first half, Fitch Solutions Country Risk & Industry Research said...
Congress allots 17.7B for road, bridge projects in tourism destinations
BusinessMirror, January 17, 2023
Jovee Marie De La Cruz
As lawmakers push to approve new tourism destinations across the country, a vice chairperson of the House Committee on Tourism revealed Congress has earmarked P17.7 billion to bankroll the national government’s Tourism Road Infrastructure Program (TRIP) this year...
Gov’t releases P18.3B for cash transfer program
BusinessWorld January 17, 2023
Luisa Maria Jacinta C. Jocson
The Government released a total of P18.3 billion in subsidies to about 9.2 million household beneficiaries as part of its targeted cash transfer (TCT) program, according to the Department of Finance (DoF)…
BSP notes improvement in accuracy of household inflation views
BusinessWorld, January 17, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) said household estimates of inflation have been improving in accuracy since 2014, possibly influencing monetary policy because household expectations are a factor in policy decisions...
Tulfo bill wants to amend holiday economics law to allow long weekends
Philippine Daily Inquirer, January 17, 2023
Daniza Fernandez
A measure that aims to modify the holiday economics law to allow longer weekends has been filed in the Senate...
Emergency onion importation will not even work, after all
BusinessMirror, January 17, 2023
Jasper Y. Arcalas
The volume of imported onion that will enter the country this month may be below 5,000 metric tons (MT), as importers showed a weak appetite for the government’s emergency import program...
Marcos orders 2-month buffer stock for sugar
BusinessWorld, January 16, 2023
Kyle Aristophere T. Atienza
The Government will maintain a two-month buffer stock of sugar to contain price volatility in the commodity, Malacañang said in a statement on Monday, citing a briefing President Ferdinand R. Marcos, Jr. delivered en route to the Davos conference in Switzerland...
SC to lawyers: Don’t date your client
Philippine Daily Inquirer, January 17, 2023
Tina G. Santos
All may be fair in love and war but it’s unethical to have an affair with your client. The Supreme Court has issued this reminder to lawyers as it moves to revise the code governing the conduct of Filipino law practitioners, including a ban on attorney-client romance...
Scientists use laser to guide lightning bolt for first time
Philippine Daily Inquirer, January 17, 2023
Agence France-Presse
Scientists said Monday they have used a laser beam to guide lightning for the first time, hoping the technique will help protect against deadly bolts — and one day maybe even trigger them...
Bataan park starts using ‘eco-toilet’ to help mitigate Manila Bay pollution
Philippine Daily Inquirer, January 17, 2023
Jun A. Malig
The Central Luzon office of the Department of Environment and Natural Resources (DENR) is promoting the construction and use of an eco-toilet system as part of its efforts to mitigate pollution in Manila Bay areas...
Designers look to nature, landfills for decor materials
The Manila Times, January 17, 2023
Associated Press
At first glance, Nina Edwards Anker's sconces and chandeliers look like ancient scrolls of parchment or sheets of buttery toffee wrapped around LED bulbs...
Marcos: China won’t stop Pinoys from fishing
Philippine Star, January 17, 2023
Alexis Romero
China will not prevent Filipino fishermen from going to traditional fishing grounds in the South China Sea, President Marcos gave assurance yesterday...
Foreign countries ‘pirating’ Filipino nursing students
Philippine Star, January 17, 2023
Mayen Jaymalin
European countries are now “pirating” nursing students from the Philippines to address the huge demand for health care workers...
Marcos: Ukraine peace talks must be bilateral
BusinessMirror January 17, 2023
Samuel P. Medenilla
While the Philippines supports the end of armed conflict between Ukraine and Russia, the peace talks between the two countries should be done bilaterally, President Ferdinand R. Marcos Jr. said...
BBM backs Ukraine's 10-point peace plan
The Manila Times, January 17, 2023
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. said the Philippines is willing to support Ukrainian President Vladimir Zelenskyy's proposed plan for a peaceful settlement of the ongoing conflict with Russia...
‘China reopening could slow down disinflation’
Philippine Star, January 17, 2023
Louise Maureen Simeon
The reopening of China, the world’s second largest economy, could potentially slow the disinflation process among countries and impact on monetary policy easing of central banks globally, according to a report released by British banking giant HSBC...
Global slowdown to force workers into worse jobs
The Manila Times, January 17, 2023
Agence France-Presse
A global economic slowdown will force more workers into accepting lower-quality, poorly paid jobs in 2023 while inflation gobbles up real term wages, the United Nations warned on Monday...
Germany calls for special tribunal against Russia over Ukraine war
Philippine Daily Inquirer, January 17, 2023
Reuters
German Foreign Minister Annalena Baerbock called on Monday for the establishment of a special international tribunal to prosecute Russian leaders over Moscow’s invasion of Ukraine...
China’s population falls for first time since 1961, highlights demographic crisis
Philippine Daily Inquirer, January 17, 2023
Reuters
China’s population fell last year for the first time in six decades, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers with profound implications for its economy and the world...
Asian stocks struggle, even as China growth tops forecasts
Manila Standard, January 17, 2023
Agence France-Presse
Asian stocks mostly fell Tuesday but pared early losses after data showed China’s economy grew more than expected last year, while traders remain hopeful about the country’s outlook as it emerges from years of debilitating zero-Covid measures...
World stocks mostly rise on optimism over China, rates
Philippine Star, January 17, 2023
Agence France-Presse
World equities mainly rose Monday on growing global optimism as inflation slows and China reopens, while gas prices hit an 18-month low on receding supply fears...
Ukraine missile toll rises to 40 as Russia denies attack
Philippine Star, January 17, 2023
Agence France-Presse
Ukraine demands speedier weapons deliveries from West to confront Russian pressure
Philippine Daily Inquirer, January 17, 2023
Reuters
Ukraine insisted the West must speed up its supply of weapons, with the city of Dnipro reeling from a Russian missile strike that killed at least 40 people in an apartment block and Ukrainian troops under increased pressure on the eastern front...
Eating one wild fish same as month of drinking tainted water – study
The Manila Times, January 17, 2023
Agence France-Presse
Eating one freshwater fish caught in a river or lake in the United States is the equivalent of drinking a month's worth of water contaminated with toxic "forever chemicals," new research said on Tuesday...
NATO: More weapons for Ukraine soon
The Manila Times, January 17, 2023
Agence France-Presse
Ukraine can expect more deliveries of heavy weapons from Western countries soon, the North Atlantic Treaty Organization (NATO) said on Sunday as Russian President Vladimir Putin praised his forces after their claimed capture of a Ukrainian town...
UK strikes to intensify as teachers and nurses announce walkouts
Philippine Star, January 17, 2023
Anna Malpas, Agence France-Presse
Industrial action looked set to intensify Monday as Britain's largest teaching and nursing unions announced further walkouts over pay, while the government seeks to limit strikes with a controversial bill...
Russia and Belarus flags banned at Australian Open after Ukraine protest
Manila Standard, January 17, 2023
Agence France-Presse
Tennis Australia on Tuesday banned Russian and Belarusian flags at the Australian Open after Ukraine’s ambassador demanded action when they were seen among the crowd...
2M non-poor households hit by inflation, rate selves poor now
Philippine Daily Inquirer, January 17, 2023
Kurt Dela Peña
As inflation accelerated to a 14-year high last month, more Filipino families considered themselves poor, with some two million newly poor, or those who were non-poor one to four years ago...
Marcos: Centino reappointed to boost low morale in AFP
BusinessMirror, January 17, 2023
Samuel P. Medenilla
President Ferdinand R. Marcos Jr. said he decided to reappoint General Andres C. Centino as chief of staff of the Armed Forces of the Philippines (AFP) to address the low morale within its ranks...
1.2-B DICT fund ‘transfer’ to MMDA reverted to national treasury–Daza
BusinessMirror, January 17, 2023
Jovee Marie De La Cruz
The P1.2-billion fund that was previously transferred by the Department of Information and Communications Technology (DICT) to the Metropolitan Manila Development Authority (MMDA) had been returned to the national treasury, a lawmaker bared on Monday...
Dengvaxia deaths spook immunization program
BusinessMirror, January 17, 2023
Manuel Cayon
The City Health Office has urged all parents to have their children, especially newborns, vaccinated in any of the district and barangay health centers in the city, an appeal raised to counter the skepticism that was mainly triggered by the controversial vaccine against the dengue virus in 2016...
IPAs make investment pitches to Swiss investors
BusinessMirror, January 17, 2023
Andrea E. San Juan
The Philippines’s Investment Promotion Agencies (IPAs) have made their investment pitches in the Joint Economic Commission (JEC) in Switzerland to Swiss investors particularly in the fintech, blockchain and high-tech machinery areas, among others...
97 percent of police generals, colonels file courtesy resignations–PNP chief
BusinessMirror, January 17, 2023
Rene Acosta
At least 97 percent of all colonels and star-ranked officials in the Philippine National Police (PNP) have already tendered their courtesy resignations, General Rodolfo Azurin Jr. revealed on Monday, even as he called on the remaining senior officers to follow suit to give the country’s police force a fresh start...
DOTr asked to fast-track revival of ‘Libreng Sakay’
Philippine Daily Inquirer, January 17, 2023
Jeannette I. Andrade
A lawmaker on Monday urged the Department of Transportation (DOTr) to fast-track the return of the “Libreng Sakay” or free bus ride program to provide financial relief to Metro Manila commuters reeling from the high cost of living in the capital...
Vergeire: ‘We cannot prevent our healthcare workers from leaving’
Philippine Daily Inquirer, January 17, 2023
Jean Mangaluz
With Filipino healthcare workers leaving the country for better opportunities abroad, Department of Health (DOH) Officer-in-charge Maria Rosario Vergeire said that they are within their rights to do so, and that the government cannot stop them...
Pimentel believes ‘price manipulation’ causing high onion prices
Philippine Daily Inquirer, January 17, 2023
Daniza Fernandez
Senate Minority Leader Aquilino “Koko” Pimentel III believes that “price manipulation” is the reason why onion prices in the country are skyrocketing...
PH needs lower food prices, not presidential foreign trips – Bayan
Philippine Daily Inquirer, January 17, 2023
Gabriel Pabico Lalu
What Filipinos need are lower food prices and not more foreign trips of President Ferdinand Marcos Jr., progressive group Bagong Alyansang Makabayan (Bayan) said on Monday...
Marcos okays new appointees
The Manila Times, January 17, 2023
Kristina Maralit
Malacanang on Tuesday announced new appointments approved by President Ferdinand "Bongbong" Marcos Jr...
'Register SIM cards now, avoid deactivation'
The Manila Times, January 17, 2023
Francis Earl Cueto
The Department of Information and Communications Technology (DICT) on Monday reminded the public to register their respective subscriber identification module (SIM) cards before the deadline or risk having their numbers deactivated...
DFA takes over DMW role during transition period
The Manila Times, January 17, 2023
William B. Depasupil
The Department of Foreign Affairs (DFA) will continue to provide the necessary assistance to overseas Filipino workers (OFWs) while the newly created Department of Migrant Workers (DMW) is still setting up its funding mechanism as a fully reconstituted department...
Despite protests, PPA insists its monitoring system will solve port issues
Philippine Daily Inquirer, January 17, 2023
Zacarian Sarao
The Philippine Ports Authority (PPA) insists that its new cargo container monitoring system would the solution to several port problems...
Onions, other veggies from abroad need clearances, Filipino travelers warned
Philippine Daily Inquirer, January 17, 2023
Gabriel Pabico Lalu
Filipino travelers who are bringing in cheaper vegetables from abroad need to get clearances first even whether for personal or commercial use, the Bureau of Customs (BOC) at the Ninoy Aquino International Airpot (NAIA) warned in a Facebook post on Monday...
Philippines logs 220,705 dengue cases in 2022
Philippine Star, January 17, 2023
Rhodina Villanueva
Over 220,000 dengue cases were recorded in the country last year, health officials reported yesterday...
Sen. JV to DA, BOC: Why punish crewmen and not big-time smugglers?
BusinessMirror, January 17, 2023
Butch Fernandez
Sen. Joseph Victor Ejercito on Monday slammed agriculture and Customs officials for focusing on punishing ordinary Filipinos and failing to arrest big-time smugglers, as the country grapples with soaring prices of agricultural goods...
Foreign contractor owes DOTr ₧702M for air traffic management project
BusinessMirror, January 16, 2023
Ma. Stella F. Arnaldo
The Department of Transportation (DOTr) is claiming some P702 million in damages from the contractor of the government’s air traffic management system...
Peza wants exporters adhering to sustainability principles
Philippine Daily Inquirer, January 17, 2023
Alden M. Monzon
The Philippine Economic Zone Authority (Peza) on Monday said it would work together with the Department of Trade and Industry (DTI), as well as industry stakeholders, in the formulation of reporting guidelines for local exporters in compliance with global standards in an effort to raise the country’s conventions in achieving sustainable development goals (SDGs)...
Continued surge in rice price seen
The Manila Times, January 17, 2023
Bella Cariaso and Bernadette E. Tamayo
A rice monitoring group on Monday predicted that retail prices of the staple will further rise in the first quarter of this year because of poor palay production and despite imported rice flooding the market...
Filipino workers sent home fewer dollars in November
Philippine Daily Inquirer, January 17, 2023
Ronnel W. Domingo
Personal remittances that Filipinos who are based abroad sent to the Philippines reached $2.93 billion in November, growing at the fastest pace of 5.8 percent in 17 months...
SRA asked to release sugar import data
The Manila Times, January 17, 2023
Eugene Y. Adiong
Present to the public the actual and projected sugar production and consumption figures. This was the challenge of three sugar planters federations in the country to the Sugar Regulatory Administration (SRA) and the carbonated soft drinks (CSD) industry...
Fertilizer subsidy release to rice farmers delayed
The Manila Times, January 17, 2023
Bella Cariaso
An official of the Department of Agriculture (DA) on Monday confirmed the non-release of P6,600 fertilizer subsidy even after President Ferdinand "Bongbong" Marcos Jr. has approved the initial allocation of P4.1 billion in December 2022...
As the rich meet in Davos, report flags inequality
BusinessMirror, January 17, 2023
Jonathan L. Mayuga
A New study published by Oxfam International revealed that the richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created globally since 2020. This is almost twice as much money as the bottom 99 percent of the world’s population has...
Agriculture, infrastructure damage from floods up P514M – NDRRMC
The Manila Times, January 17, 2023
Francis Earl Cueto
The National Disaster Risk Reduction and Management Council (NDRRMC) on Tuesday said that the reported damage to agriculture and infrastructure due to the effects of the shear line and low-pressure area in Bicol, the Visayas and Mindanao is now at more than P544 million...
Higher rates to be a drag on PHL property sector
BusinessMirror, January 17, 2023
VG Cabuag
As the Bangko Sentral ng Pilipinas poises more rate hikes and the borrowing rates remain high, the mortgage rates will remain higher and will continue to be a drag on the country’s property sector, online stockbroker Col Financial Group Inc. said in a paper...
Price hike: Gasoline up P0.95, diesel by P0.50
Philippine Star, January 17, 2023
Richmond Mercurio
Oil companies are raising gasoline and diesel prices today, while a minimal rollback is being implemented on kerosene...
Local shares rally past 7,000 level
Philippine Star, January 17, 2023
Ramon Royandoyan
Local shares opened the week upbeat as it rallied past the 7,000 mark, sparking hopes of a run into a bull market, as investors priced in decelerating inflation and China reopening to the global economy...
Call for wealth tax revived as 9 richest own more than bottom 55M Pinoys do
Philippine Star, January 16, 2023
A wealth tax could fatten the Philippines’ tax haul as the growing number of dollar millionaires exposed the realities of inequality in the country, global nonprofit Oxfam said...
PSEi breaches 7,000 mark on rising optimism
Philippine Star, January 17, 2023
Iris Gonzales
Most Asian stocks, including the Philippines, opened the week on a strong note yesterday, following another rally on Wall Street fueled by optimism over the world economy as inflation slows and China reopens to the world...
Petron to buy $22.47M of its debt securities
BusinessWorld January 17, 2023
A.E.O. Jose
Petron Corp. is buying $22.47 million of its outstanding senior perpetual capital securities listed in Singapore after its offer to holders of its debt ended last week, the oil company said on Monday...