Philippines improves in Globalization Index

Source: BusinessWorld

The Department of Agriculture (DA) stood pat on its stance to support the extension of lower tariffs on key commodities, arguing that the measure was “necessary” to stabilize prices in the market despite an uproar from agriculture stakeholders. The biggest agricultural coalition stressed there is no shortage of food supply, “only exploitation” by some quarters, and lamented Malacañang’s decision to heed solely the advice of economic managers...

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Manila and Beijing on Wednesday vowed to resolve maritime disagreements through consultation, during a visit by Philippine President Ferdinand Marcos to the Chinese capital amid heightened tensions over the hotly disputed South China Sea...

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Bank lending growth slowed in November amid higher borrowing costs, preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed...

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President Ferdinand “Bongbong” Marcos Jr. emphasized the need to expand economic cooperation between Philippines and China during his meeting with Li Zhanshu, chairman of the Standing Committee of the National People’s Congress...

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Salary-based consumer loans continued to grow by double digits in November last year, according to data released by the Bangko Sentral ng Pilipinas (BSP)…

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Department of the Interior and Local Government Secretary Benhur Abalos Jr. called on all senior police officials Wednesday to tender their courtesy resignations in a drastic move aimed at addressing the country’s illegal drugs problem by weeding out alleged drug protectors and even players from the ranks of the Philippine National Police (PNP)…

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More efficient spending and improved tax administration are key to achieving the government’s fiscal consolidation goals and bringing down debt levels, analysts said...

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Some agricultural stakeholders expressed dismay over President Ferdinand R. Marcos, Jr.’s executive order extending lower tariffs on pork, rice, corn and coal, saying the previous order failed to lower prices...

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The Philippine digital economy is seen to grow to as much as $150 billion in the next decade if the government accelerates its online shift, according to Digital Transformation ng Pilipinas (DigiPinas)...

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The Philippine Space Agency (PhilSA) signed the Space for Climate Observatory (SCO) Charter on Nov. 28, 2022, making it the climate resilience initiative’s National Focal Point of the Philippines...

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The World Health Organization criticised China's "very narrow" definition of Covid deaths on Wednesday, warning that official statistics were not showing the true impact of the outbreak...

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US social media giant Meta was slapped Wednesday with fines totalling 390 million euros ($413 million) for breaching EU personal data laws on Facebook and Instagram, Ireland's data regulator said...

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Canada set an immigration record last year by granting more than 437,000 foreigners permanent residency, the government said on Tuesday, as it ramps up immigration to fight a tight labor market...

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The Chinese government sharply criticized Covid-19 testing requirements imposed on visitors from China and threatened countermeasures against countries involved, which include the US and several European nations...

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The Manila Police District (MPD) is expecting millions of Catholic devotees to participate in the Feast of the Black Nazarene gatherings despite the absence of the venerated image in this year’s procession...

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Several roads in Manila will be closed to motorists beginning tomorrow until Jan. 9 for the Feast of the Black Nazarene...

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The Land Transportation Franchising and Regulatory Board (LTFRB) is looking to relaunch the government’s free rides on the EDSA Carousel by the second quarter of this year...

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Classes and work in Manila will be suspended on Monday next week, January 9, for the Feast of the Black Nazarene...

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The government is capable of keeping Filipinos in China safe amid a surge of COVID-19 cases there, Philippine Ambassador to China Jame Florcruz said Wednesday...

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President Ferdinand Marcos Jr. has renamed the Office of the Press Secretary as the Presidential Communications Office and placed it under the Office of the President...

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The Commission on Elections (Comelec) has ruled out the extension of voters’ registration beyond the January 31 deadline...

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A lawmaker on Wednesday said the recent air traffic control fiasco at the Ninoy Aquino International Airport (Naia) clearly signals the need to separate the regulatory and commercial functions of the Civil Aviation Authority of the Philippines (CAAP), even as other legislators pressed for a joint House and Senate probe in the incident...

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The Second Congressional Commission on Education (EDCOM II) is all set to perform its mandate to evaluate Philippine education sector’s performance starting January 2023, Senator Sherwin Gatchalian confirmed on Wednesday...

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Former and current officials of the Department of Transportation (DoTr) traded barbs Wednesday over the technical glitch in the air traffic navigation system that closed Philippine airspace and grounded more than 280 flights on Sunday...

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The Governance Commission for GOCCs (GCG) has directed the Civil Aviation Authority of the Philippines (CAAP) to explain the alleged 'technical glitch' that led to cancellation of flights at NAIA last January 1...

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The number of reported fatalities in the torrential rains and floods caused by the shear line over the week past Christmas Day has climbed to 52, the National Disaster Risk Reduction and Management Council (NDRRMC) said...

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The Philippine Economic Zone Authority (Peza) has vowed to fast track the implementation of the ecozone transformation roadmap, which it said expands the different types of special economic zones that could be registered under Peza...

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The Department of Budget and Management (DBM) is pushing the passage of a bill that will institutionalize the cash budgeting system...

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The government steadied its infrastructure spending in October as outlays inched up by less than a percent to P61 billion, the Department of Budget and Management (DBM) said...

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Local share prices sustained their advance yesterday, performing strongly again on the second trading day of 2023 along with most other stock markets in Asia...

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Philippine Chamber of Commerce and Industry (PCCI) President George T. Barcelon said a “good mix of sectors” including the metal and agriculture sectors are set to participate in talks with Chinese firms to expand their market potential...

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The country’s domestic liquidity grew 5.4 percent in November 2022 on the back of the double-digit growth in domestic claims, according to the latest report from the Bangko Sentral ng Pilipinas (BSP)…

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To help boost the country’s low labor productivity, the Department of Labor and Employment (DOLE) is now pushing for a new law for the accreditation of productivity experts who can make it easier for firms to get tax incentives for productivity schemes...

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The local bourse operator’s target of 14 initial public offerings (IPO) this year is possible as further economic reopening offers greater confidence in business expansions, analysts said...

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Yields on the term deposits of the Bangko Sentral ng Pilipinas (BSP) ended higher on Wednesday as global oil prices settled among one-month highs and with the market anticipating more rate hikes from monetary authorities...

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The electronics industry, which produces the Philippines’ leading exports, is expected to come under pressure in 2023 as its most important markets go through recessions, analysts said...

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