January 9, 2023
How much did each commodity group contribute to 2022 inflation?
Source: BusinessWorld
National government borrowings for Jan-Nov dip to P2.1T
BusinessMirror, January 9, 2023
Jasper Y. Arcalas
The national government’s total gross borrowings from January to November last year contracted by almost a fifth on an annual basis to P2.104 trillion, the latest Bureau of the Treasury (BTr) data showed...
Marcos visit to test ‘how truthful’ China is to pledges – analysts
Philippine Daily Inquirer, January 9, 2023
Frances Mangosing
President Ferdinand Marcos Jr.’s three-day state visit to China last week would “test the waters and examine how truthful China can be on its words and promises,” according to analysts...
Not all China pledges expected to materialize
The Manila Times, January 9, 2023
Ed Paolo Salting
Pragmatism greeted the multibillion-dollar investment pledges announced in the wake of President Ferdinand "Bongbong" Marcos Jr.'s state visit to China given that the programs and projects involved have yet to break ground...
Fitch unit: Philippine exports to soften in 2023 despite China reopening
Philippine Star, January 9, 2023
Ramon Royandoyan
Philippine exports are forecast to soften this year despite China, a major trading partner, emerging from strict pandemic restrictions as demand is likely to remain subdued because of a looming global recession...
DA-led task force pushed to go after onion hoarders
Philippine Daily Inquirer, January 9, 2023
Marlon Ramos
The government should form a task force headed by the Department of Agriculture (DA) to run after unscrupulous traders and hoarders who could be manipulating the price of onions in the country, Sen. Sherwin Gatchalian said on Sunday...
World food prices hit record high in 2022
Philippine Star, January 9, 2023
Agence France-Presse
World food prices fell for a ninth month in a row in December but hit their highest level on record for the full year in 2022, UN data showed Friday...
PhilSa warns public vs falling debris from China space launch vehicle
BusinessMirror, January 9, 2023
Jonathan L. Mayuga
The Philippine Space Agency (PhilSA) has warned the public against unburned debris from China’s Long March 7A space launch vehicle that is projected on fall two identified “drop zones” in the Philippines...
Bill seeks bereavement leave for workers
The Manila Times, January 9, 2023
Ma. Reina Leanne Tolentino
A bill filed at the House of Representatives seeks to entitle workers to a seven-day bereavement leave...
Regulator orders PhilHealth to detail impact of rate hike freeze
BusinessWorld, January 9, 2023
Luisa Maria Jacinta C. Jocson
The regulator for state-owned firms has ordered the Philippine Health Insurance Corp. (PhilHealth) to submit an analysis of how a hike suspension will affect its financial standing and operations...
Tech show gives gamers that sensation of reality
Philippine Daily Inquirer, January 9, 2023
Agence France-Presse
Getting shot, standing in a downpour, being surrounded by bees: None are ideal, but for gamers, feeling the sensations of each is the goal...
Asian markets extend new year rally on Fed hopes
Philippine Star, January 9, 2023
Agence France-Presse
Asian markets resumed their strong start to the year Monday, tracking a surge on Wall Street fuelled by hopes that US data will allow the Federal Reserve to slow its pace of interest rate hikes...
WB to warn of global recession risk in economic outlook
BusinessWorld, January 9, 2023
Bloomberg
The World Bank (WB) is concerned that “further adverse shocks” could push the global economy into recession in 2023, with small states especially vulnerable...
China ends quarantine for overseas travelers
The Manila Times, January 9, 2023
Agence France-Presse
China lifted quarantine requirements for inbound travelers on Sunday, ending almost three years of self-imposed isolation even as the country battles a surge in Covid cases...
Oil nudges higher after China opens borders, lifts fuel demand outlook
Philippine Daily Inquirer, January 9, 2023
Reuters
Oil prices edged up on Monday, a day after travelers streamed into China following a reopening of borders that lifted the fuel demand outlook and partly offset concerns of global recession...
China carries out combat drills around Taiwan again
Philippine Daily Inquirer, January 9, 2023
Reuters
China’s military said it had carried out combat drills around Taiwan on Sunday, the second such exercises in less than a month, with the island’s defense ministry reporting it detected 57 Chinese aircraft...
‘Life is moving forward’: China declares new COVID-19 phase
Philippine Daily Inquirer, January 9, 2023
Reuters
China braced for a “new phase” in its battle against COVID-19 on Monday and financial markets strengthened after Beijing dropped pandemic border controls in the latest easing of curbs that has let the virus loose on its 1.4 billion population...
Global leaders condemn assault on Brazilian government buildings
Philippine Daily Inquirer, January 9, 2023
Reuters
Supporters of Brazil’s far-right former President Jair Bolsonaro on Sunday invaded the country’s Supreme Court and its Congressional building and surrounded the presidential palace in Brasilia. Here are reactions from world leaders:
Bolsonaro supporters invade Brazil presidential palace, Congress, Supreme Court
Philippine Daily Inquirer, January 9, 2023
Reuters
Supporters of Brazil’s far-right former President Jair Bolsonaro on Sunday invaded the country’s Congress, presidential palace and Supreme Court, in a grim echo of the U.S. Capitol invasion two years ago by fans of former President Donald Trump...
UN envoy meets with Taliban over learning ban
The Manila Times, January 9, 2023
Associated Press
A top UN envoy met with the Taliban-led Afghan government's higher education minister Saturday to discuss the ban on women attending universities. Markus Potzel is the first international official to meet with him since the ban was introduced last month...
UK becoming less attractive for investment, manufacturers warn
Philippine Daily Inquirer, January 9, 2023
Reuters
Britain has become less competitive and less attractive to foreign investors as a result of soaring energy costs and recent political turmoil, manufacturers said in an industry survey released on Monday...
EU suppliers to bear carbon footprint cost
Philippine Daily Inquirer, January 9, 2023
Alden M. Monzon
The Philippine export industry is preparing for the implementation of a new regulation of the European Union (EU) that will account for carbon usage in traded goods, a measure that entails additional reporting and friction cost for goods flowing to countries under the regional bloc...
Biden visits US-Mexico border as immigration issue heats up
Philippine Daily Inquirer, January 9, 2023
Reuters
President Joe Biden visited the U.S.-Mexico border on Sunday for the first time since taking office, tackling one of the most politically charged issues in the country as he prepares for a re-election bid...
Ukraine rejects Russian claim of devastating ‘retaliatory strike’
Manila Standard, January 9, 2023
Agence France-Presse
Russia said Sunday it had carried out a devastating “retaliatory strike” in eastern Ukraine to avenge a recent deadly attack on its troops, a claim quickly denied by Kyiv..
Second coming of once-banned conspiracy theorists after Twitter amnesty
Philippine Star, January 9, 2023
Anuj Chopra, Agence France-Presse
A conspiracy theorist urging Americans to burn voting machines, an anti-Muslim activist posting a photo with a gun, a retired general who called for a coup -- Elon Musk's Twitter has reinstated thousands of once-banned accounts...
7.0-magnitude quake strikes Pacific nation of Vanuatu
The Manila Times, January 8, 2023
Agence France-Presse
A 7.0-magnitude earthquake struck just off the coast from the Pacific nation of Vanuatu late Sunday, the US Geological Survey said, triggering a tsunami warning for the region...
No sign of casualties at site of Russian rocket strike in Ukraine
Philippine Daily Inquirer, January 8, 2023
Reuters
A Russian rocket strike on the Ukrainian city of Kramatorsk caused damage but did not destroy buildings and there were no obvious signs of casualties, a Reuters witness said on Sunday after Russia said the attack killed 600 Ukrainian soldiers...
AFP units back Centino amid talk of unrest
Philippine Daily Inquirer, January 9, 2023
Frances Mangosing
In an apparent show of unity, major service branches of the Armed Forces of the Philippines have rallied behind the leadership of the reappointed chief of staff, Gen. Andres Centino, over the weekend, amid talk of unrest among their troops...
SIM registration portals soon clean of marketing tick boxes
Philippine Daily Inquirer, January 9, 2023
Tyrone Jasper C. Piad
The National Telecommunications Commission (NTC) wants unrelated tick box items—including subscription to promotional alerts and other marketing options—be removed from the SIM (subscriber identity module) card registration portals of telecommunication companies as the regulator seeks a more streamlined process...
PNP probes fake memo on full alert
The Manila Times, January 9, 2023
Francis Earl Cueto
The Philippine National Police (PNP) on Sunday said its Anti-Cybercrime Group is tracing the source of the false memorandums on the alleged order to all units to be on full alert because of the resignation of officials and personnel of the Department of National Defense...
Senator: Marcos needs 'bastonero' at DA
The Manila Times, January 9, 2023
President Ferdinand "Bongbong" Marcos Jr. needs a second-in-command in the Department of Agriculture (DA) who knows how the President thinks as the Agriculture secretary, Sen. Sherwin Gatchalian said on Sunday...
Bongbong Marcos vows to improve, invest more in PH transport system
Philippine Daily Inquirer, January 9, 2023
Daphne Galvez
President Ferdinand “Bongbong” Marcos Jr. on Monday vowed that his administration would continue to invest and improve the country’s transportation system to ultimately benefit the nation...
Dams stop spill but floods persist in Bulacan, Isabela, Cagayan
Philippine Daily Inquirer, January 9, 2023
Villamor Visaya Jr. and Carmela Reyes-Estrope
The weather has improved in Luzon, but some villages in Bulacan and bridges and low-lying areas in Isabela and Cagayan provinces were still flooded on Sunday...
Meralco rates likely up this month
Philippine Star, January 9, 2023
Richmond Mercurio
Indications point to higher electricity rates for Manila Electric Co. (Meralco) this January, its third consecutive month of increase, according to an official of the power distributor...
MWSS: Water crisis looms in parts of Metro Manila
Philippine Star, January 9, 2023
Iris Gonzales
Some parts of Metro Manila and nearby areas will have a water crisis similar to the 2019 shortage if Kaliwa Dam does not come on stream after 2027, the Metropolitan Waterworks and Sewerage System (MWSS) said in a recent forum...
88,000 devotees take Nazarene ‘Walk of Faith’
Manila Standard, January 9, 2023
Willie Casas, Vince Lopez and 1 other
Tens of thousands of Catholic faithful walked through the streets of Manila early Sunday in reverence of a historic statue of Jesus Christ, which is believed to have miraculous powers...
Poe believes CAAP ‘almost 100% responsible’ for air traffic fiasco
Philippine Daily Inquirer, January 9, 2023
Daniza Fernandez
The Civil Aviation Authority of the Philippines (CAAP) is “almost 100 percent” responsible for the controversial air traffic fiasco, Senator Grace Poe believes...
PH garment makers welcome new US verification law
Philippine Daily Inquirer, January 9, 2023
Alden M. Monzon
Philippine exporters are seen to benefit from a recently passed United States legislation that requires information verification of high-volume online sellers, seen as an opportunity to establish reputation in such an important export destination...
Entrepreneurship gaining more traction – survey
The Manila Times, January 9, 2023
Kristina Maralit
Filipinos are increasingly getting into the entrepreneurial mindset, a recent survey conducted by OCTA Research showed...
DA sees lower SRP for onions by second week of January
Philippine Daily Inquirer, January 9, 2023
Beatrice Pinlac
A lower suggested retail price (SRP) for onions may soon be set by the second week of January, said the Department of Agriculture (DA)...
Fuel prices to be rolled back on Jan. 10
Philippine Daily Inquirer, January 9, 2023
Daphne Galvez
Pump prices of gas, diesel, and kerosene will be cut by P0.75 to P2.80 per liter starting Tuesday, Jan 10...
Policy tightening seen to continue
BusinessWorld, January 9, 2023
Keisha B. Ta-asan
The Bangko Sentral ng Pilipinas (BSP) will likely continue its monetary tightening this year as inflation is seen to remain above target until the second quarter of 2023, analysts said...
Experts cite tool kit to bust inflation, stimulate economy
BusinessMirror, January 9, 2023
Cai U. Ordinario
Local economists are proposing a number of measures, including going after smugglers and hoarders as well as raising real wages, to rein in inflation and stimulate the economy this year...
Tax cuts likely to unleash spending power of middle-class Filipinos
BusinessWorld, January 9, 2023
Luisa Maria Jacinta C. Jocson
Tax cuts implemented this year could spur faster spending and increased savings by middle-class Filipino consumers, as well as lead to higher government revenues from indirect taxes, analysts said...
Rates of Treasury bills, bonds to climb on Fed hike expectations
BusinessWorld, January 9, 2023
A.M.C. Sy
Rates of government securities on offer this week could climb amid expectations of more US Federal Reserve hikes despite mixed economic data released last week...
SEC adds 3 more to alert list, acts on Silverlion
BusinessWorld, January 9, 2023
Justine Irish D. Tabile
The Securities and Exchange Commission (SEC) has warned the public about three entities that have been soliciting investments without a license, with two of them not even registered with the agency...
Disruptions keeping fertilizer expensive
BusinessMirror, January 9, 2023
Cai U. Ordinario
Fertilizer prices have already eased from the peak levels recorded in 2022 but prices remain high due to disruptions and restrictions that make it more expensive, according to World Bank economists...