January 3, 2023
Analysts’ December 2022 inflation rate estimates
Source: BusinessWorld
Inflation likely peaked in Dec. — poll
BusinessWorld, January 3, 2023
Keisha B. Ta-asan
Headline inflation likely peaked in December as strong holiday demand and agricultural damage caused by typhoons may have driven food prices higher, according to analysts...
Inflation likely higher; tightening to continue
The Manila Times, January 3, 2023
Ed Paolo Salting
Key interest rates will likely be raised anew as inflation is expected to have accelerated last month and remain elevated in the first few months of 2023, analysts said...
Low tariffs, nutrition goals anchor food insecurity fight
BusinessMirror, January 3, 2023
Jasper Y. Arcalas
The Marcos Jr. administration seeks to eliminate severe food insecurity in the Philippines starting next year through various mechanisms that include lowering of tariffs on key commodities in the short-term period...
Amid aviation mess, DOT announces 2.65-M foreign tourists in 2022
BusinessMirror, January 3, 2023
Ma. Stella F. Arnaldo
The Philippines received 2.65 million foreign tourists from February to December 31, 2022, exceeding the 2-millon low-end target of the Department of Tourism (DOT) under its reformulated tourism plan for the last two years of the Duterte administration...
Airlines’ NAIA operations likely to normalize within 3 days — MIAA
BusinessWorld, January 3, 2023
Revin Mikhael D. Ochave
Airlines are expected to normalize their operations at the Ninoy Aquino International Airport (NAIA) within the next three days, an airport official said, a day after a power outage downed its air traffic control system and caused numerous flight cancellations and delays...
PHL can join fastest-growing economies’ club
BusinessMirror, January 2, 2023
Jovee Marie De La Cruz
An economist-lawmaker has expressed confidence that the Philippines will compete with Vietnam and India for the fastest-growing major economy in Asia-Pacific...
Rice, pork shortages expected in 2023
BusinessWorld, January 2, 2023
Ashley Erika O. Jose
The Philippines will likely experience shortages of rice and pork this year, with growers impacted by high costs for key inputs as well as climate change, analysts said...
Bill eyes paid internship programs
The Manila Times, January 3, 2023
Philippine News Agency
The government must have an enticing program to encourage the youth to enter civil service, Sen. Mark Villar said. Senate Bill 1525 or the Government Internship Program (GIP) seeks to mandate all government agencies to provide compensation to internship programs that will complement ongoing recruitment efforts in order to ensure that civil servants are well-motivated, properly trained and the deserving ones promptly recruited...
Senate bills to increase pension of DFA employees
The Manila Times, January 3, 2023
Philippine News Agency
Two bills have been filed in the Senate to increase the monthly pension and disability benefits of retirees of the Department of Foreign Affairs (DFA)...
Palace halts PhilHealth hike in premium rate, income cap
BusinessMirror, January 3, 2023
Jovee Marie De La Cruz
President Ferdinand Marcos Jr. has ordered the Philippine Health Insurance Corporation (PhilHealth) to suspend the increase of premium contribution rates and income ceiling for 2023, the executive secretary said...
PNP office ordered to revoke licenses of reckless gun owners
The Manila Times, January 3, 2023
Franco Jose C. Baroña
Philippine National Police (PNP) chief Gen. Rodolfo Azurin Jr. on Tuesday said he has tasked the Firearms and Explosives Office (FEO) to initiate the revocation of licenses of those involved in indiscriminate firing during the Christmas holidays...
BSP rolls out cyber hygiene campaign
BusinessWorld, January 3, 2023
The Bangko Sentral ng Pilipinas (BSP), together with the Bankers Association of the Philippines (BAP) and the Bank Marketing Association of the Philippines (BMAP), has launched an information campaign aimed to improve cyber hygiene...
DENR to use satellites, drones vs. illegal logging
The Manila Times, January 3, 2023
Bella Cariaso
Drones and satellite imagery will increasingly be used by Department of Environment and Natural Resources (DENR) given the proliferation of illegal logging and continued deforestation...
Palace vows to pursue digital shift in govt services this year
BusinessMirror, January 3, 2023
Jovee Marie De La Cruz
To ensure responsiveness and accessibility to the public, the administration of President Ferdinand R. Marcos Jr. has vowed to transform government services in 2023...
AI has cracked the knowledge workplace
The Manila Times, January 3, 2023
Benito Teehankee
In 2016, Klaus Schwab, founder and chairman of the World Economic Forum, declared that the Fourth Industrial Revolution would impact our lives completely. Every industry would be digitalized and disintermediated and new business models would need to be defined. Moreover, because of the danger of job losses, people would have to be reskilled and upskilled fast...
Marcos in China for state visit
The Manila Times, January 3, 2023
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. on Tuesday evening arrived in Beijing, China for a three-day state visit...
Marcos to seek agreements with China
The Manila Times, January 3, 2023
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr. will leave the country on Tuesday for a state visit to China, hoping to secure a number of agreements that will boost bilateral trade and investments between the two countries...
World Bank flags debt spike even in mid-income countries like PHL
BusinessMirror, January 2, 2023
Cai U. Ordinario
Efforts to reduce debts should be implemented even among middle-income countries like the Philippines as external debt levels have significantly risen during and after the pandemic, according to the World Bank...
Tens of thousands queue to pay tribute to ex-pope Benedict
Philippine Star, January 3, 2023
Clement Melki, Agence France-Presse
Tens of thousands of people paid their respects on Monday to former pope Benedict XVI at the Vatican, at the start of three days of lying-in-state in St Peter's Basilica before his funeral...
Global economy faces tougher year in 2023, IMF’s Georgieva warns
BusinessWorld, January 3, 2023
Reuters
For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday...
Rundown: Countries imposing fresh COVID-19 rules on travelers from China
Philippine Star, January 3, 2023
Agence France-Presse
Around a dozen countries have slapped fresh travel regulations on travellers from China, as the world's most populous nation faces a surge in COVID-19 cases following its decision to relax strict virus restrictions...
Dozen countries set heightened restrictions for Chinese travelers
Manila Standard, January 3, 2023
Agence France-Presse
Travelers from China now face restrictions when entering more than a dozen countries as concern grows over its surge in COVID-19 cases, with Australia the latest to demand a negative test before arrival...
Seoul says talks underway over joint nuclear exercises
The Manila Times January 3, 2023
Agence France-Presse
Seoul and Washington are discussing joint planning and exercises involving US nuclear assets to counter growing threats from the North, South Korea's presidential office said Tuesday, after US President Joe Biden said there would be no such joint drills...
Dozen countries set heightened restrictions for Chinese travelers
Manila Standard, January 3, 2023
Agence France-Presse
Travelers from China now face restrictions when entering more than a dozen countries as concern grows over its surge in COVID-19 cases, with Australia the latest to demand a negative test before arrival...
European markets start New Year on high note
Philippine Star, January 3, 2023
Agence France-Presse
European stock markets started the New Year on a high note on Monday after a rough 2022 but the IMF chief warned that a third of the world economy faces recession in 2023...
Russian drones attack critical infrastructure in and around Kyiv – officials
BusinessWorld, January 2, 2023
Reuters
Waves of Russian drones targeted critical infrastructure in Ukraine’s capital of Kyiv and surrounding areas on Monday, officials said, as Russia extended its constant bombardment into the second day of 2023...
SIM card registrations breach 11.2M – NTC
The Manila Times, January 3, 2023
Francis Earl Cueto
The number of Globe, Smart and DITO subscribers who have complied with the SIM card registration law has topped 11.2 million, the National Telecommunications Commission (NTC) said on Monday...
Govt to improve services this year
The Manila Times, January 3, 2023
Catherine S. Valente
President Ferdinand "Bongbong" Marcos Jr.'s administration has committed to transform government services this year to ensure responsiveness and accessibility to the public...
LTFRB reduces buses on Edsa after end of free rides, releases fare matrix guide
The Manila Times, January 3, 2023
Franco Jose C. Baroña
The Land Transportation Franchising and Regulatory Board (LTFRB) announced on Tuesday the reduction of the number of bus units serving the Edsa Busway from 758 to 550 after the free rides service ended on New Year's Day...
LTFRB restores original number of buses traveling Edsa busway
The Manila Times, January 3, 2023
Franco Jose C. Baroña
The Land Transportation Franchising and Regulatory Board (LTFRB) announced on Tuesday the reduction in the number of bus units serving the Edsa Busway from 758 to 550 after the free rides service ended on New Year's day...
Floods hit 600K residents in parts of PH – NDRRMC
The Manila Times, January 3, 2023
Francis Earl Cueto
The National Disaster Risk Reduction and Management Council on Tuesday said that the number of residents affected by the shear line weather phenomenon that caused floods in parts of the Philippines has reached 600,000...
MIF could venture into infra development solutions–lawmaker
BusinessMirror, January 3, 2023
Jovee Marie De La Cruz
Instead of merely holding passive assets such as fixed-income instruments, equities and bonds, the planned state-run Maharlika Investment Fund (MIF) could venture into infrastructure development solutions, according to a lawmaker...
SC junks ex-Pagcor chief’s plea for dismissal of graft raps pending before Sandiganbayan
BusinessMirror, January 3, 2023
Joel R. San Juan
The Supreme Court (SC) has denied the plea of former Philippine Amusement and Gaming Corporation (Pagcor) chairman Efraim Genuino seeking the immediate dismissal of the 18 counts of graft and malversation charges filed against him involving the agency’s grant of financial assistances to different entities from 2004 to 2009 amounting to almost P160 million...
House allots P254 million for Pinoy centenarians
Philippine Star, January 3, 2023
Delon Porcalla
A total of P254 million has been earmarked in the national budget for the payment of cash gifts amounting to P100,000 each for Filipinos who will turn 100 years old this year...
DOE bares priorities for 2023
Philippine Star, January 3, 2023
Richmond Mercurio
The Department of Energy (DOE) has bared its key priorities for this year, foremost of which is pursuing contingency measures and activities to ensure energy supply during critical periods, including the summer months...
PHL economy off to slow start in ‘23
BusinessMirror, January 2, 2023
Cai U. Ordinario
The Philippine economy is in for a slow start this year, especially with China recovering and increasing their demand for oil in 2023, according to local economists...
2.65M foreign tourists visited PH in 2022
The Manila Times, January 3, 2023
Moises Cruz
The Department of Tourism (DoT) said that 2.65 million foreign tourists visited the country last year, higher than its 1.7 million target...
Onion prices remain high despite P250 SRP
The Manila Times, January 3, 2023
Bella Cariaso
The retail prices of onions remained high despite the implementation of the P250 suggested retail price (SRP) on Dec. 30, 2022. An official of the Department of Agriculture (DA) warned that traders could face profiteering and manipulation charges...
Philippines’ top 1000 corporations bounced back in 2021
BusinessWorld, January 3, 2023
Lourdes O. Pilar
The Philippines’ top 1,000 corporations bounced back in 2021, with their combined gross revenues hitting P13.44 trillion as the economy slowly recovered from the coronavirus pandemic...
'Revive private sector proposal for NAIA upgrade'
The Manila Times, January 3, 2023
Catherine S. Valente
The retail prices of onions remained high despite the implementation of the P250 suggested retail price (SRP) on Dec. 30, 2022. An official of the Department of Agriculture (DA) warned that traders could face profiteering and manipulation charges...
BSP urges Filipinos: practice cyber hygiene
The Manila Times, January 3, 2023
Ed Paolo Salting
The Bangko Sentral ng Pilipinas (BSP) is looking to promote cyber hygiene among Filipinos via an information drive to be conducted in partnership with the Bankers Association of the Philippines (BAP) and the Bank Marketing Association of the Philippines (BMAP)...
‘Big time’ fuel pump price hike greets motorists at start of 2023
BusinessMirror, January 3, 2023
Lenie Lectura
Hefty oil price increases greeted motorists today after oil firms announced Monday that they will implement this year’s first oil price adjustment...
Fuel price hike: P2.90 for gas, P2.10 for diesel
Philippine Star, January 3, 2022
Richmond Mercurio
Oil firms are implementing a hefty price hike in pump prices today...
IT-BPM firms can still transfer their registration to BoI until January 31
BusinessWorld, January 3, 2023
L.M.J.C. Jocson
Information Technology-business process management (IT-BPM) firms have been given one more month to transfer their registration to the Board of Investments (BoI) from their existing investment promotion agency (IPA)…
Property sector to face headwinds in 2023 — JLL
BusinessWorld, January 3, 2023
Justine Irish D. Tabile
The property sector may face headwinds brought by structural changes and macroeconomic challenges this year, according to JLL Philippines...
High wages, huge demand to drain PHL of more HCWs
BusinessMirror, January 3, 2023
Cai U. Ordinario
The “huge wage differential” and the high demand for healthcare workers (HCW) due to aging populations could cost the Philippines more of its healthcare professionals in the medium term, according to the Philippine Development Plan (PDP)…
Philstocks awaits PSEi’s rally on economy’s prospects
BusinessWorld, January 3, 2023
Justine Irish D. Tabile
The local market is expected to move with an upward bias this year as long as the Philippine economy will see favorable developments, an analyst said...
Value and volume of InstaPay, PESONet transactions increase
BusinessWorld, January 3, 2023
Keisha B. Ta-asan
Transactions coursed through PESONet and InstaPay rose as of end-November, with both payment systems seeing growth in volume and value, according to data from the Bangko Sentral ng Pilipinas (BSP)…
Marcos orders suspension of PhilHealth premium rate hike
Philippine Star, January 3, 2023
Gaea Katreena Cabico
President Ferdinand Marcos Jr. ordered the Philippine Health Insurance Corp. to suspend the implementation of the increase in membership contribution as Filipinos grapple with the economic challenges caused by the ongoing COVID-19 pandemic...
DA banks on coming harvest for P170/kilo of onions
Manila Standard, January 3, 2023
Macon Ramos-Araneta
The Department of Agriculture (DA) said Monday it expects onion prices, which have shot up to more than P700 a kilo in some markets, to fall below P170 a kilo later this year as the supply of the commodity stabilizes with the coming harvest...