THE Philippines improved eight spots in an annual global index measuring an economy’s risk of money laundering and terrorist financing, and their ability to counter these. Read the full story.
Category: Hot News
How PSEi member stocks performed — October 4, 2022
Here’s a quick glance at how PSEi stocks fared on Tuesday, October 4, 2022.
PSE index surges as PHL factory activity improves
PHILIPPINE STOCKS surged on Tuesday on sustained bargain hunting and data showing manufacturing activity in the country improved last month. The benchmark Philippine Stock Exchange index (PSEi) rose by 204.57 points or 3.53% to close at 5,987.72 on Tuesday, while the broader all shares gained 96.35 points or 3.09% to end at 3,210.48. “The local […]
Two Marcos appointees quit after being bypassed
TWO APPOINTEES of Philippine President Ferdinand R. Marcos, Jr. have resigned after lawmakers bypassed their nomination last week, according to the presidential palace. Press Secretary Trixie Cruz-Angeles resigned for health reasons, Senior Deputy Executive Secretary Hubert Guevarra told reporters on Tuesday. Commission on Audit (COA) Chairman Jose C. Calida, ex-President Rodrigo R. Duterte’s solicitor general, […]
Former anti-Red official ordered to explain threat vs Manila judge
THE PHILIPPINE Supreme Court on Tuesday ordered a former anti-communist spokesperson of government to explain why she should not be cited in contempt for allegedly threatening a Manila trial court judge on Facebook. The tribunal gave ex-spokesperson Lorraine Marie T. Badoy 30 days to explain her threats against Judge Marlo A. Magdoza-Malagar, who had ruled […]
Employers urged to allow flexible working setups
A CONGRESSMAN on Tuesday urged employers to support work-from-home setups under the law, saying it allows workers to spend more time with family without affecting productivity. “With the release of the expanded rules for the telecommuting law, we hope that more employers will implement flexible working arrangement for their workers,” Rizal Rep. Juan Fidel Felipe […]
SSS put on notice to boost returns, invited to finance infrastructure
FINANCE Secretary Benjamin E. Diokno said the Social Security System (SSS) needs to improve returns from its investment portfolio to better reflect the strength of the domestic economy, and urged the pension fund to put its money in infrastructure. “There is still much work to be done. With the rapid expansion of our domestic economy […]
NGCP urged to raise level of power available via standby contracts
THE National Grid Corp. of the Philippines (NGCP) has been urged to raise the level of standby power available to it in order to ensure continuous power should any of the generating plants supplying the grid experience outages. The standby power is known as ancillary services, which the NGCP must enter into contracts for so […]
DBM releases P1B for risk allowance of healthcare frontliners
THE Department of Budget and Management (DBM) said it released P1.04 billion to the Department of Health (DoH) to cover allowances for government and private-sector health workers who worked during the pandemic. The Special Allotment Release Order (SARO) was approved on Monday for the special risk allowance (SRA) of eligible frontliners who were involved in […]
DTI estimates e-commerce sellers at 2 million, exceeding forecasts
THE Department of Trade and Industry (DTI) said that the number of entities doing business as online sellers has risen to 2 million, far larger than the department’s projections. “As of our estimate for 2022, we are at 2 million e-commerce participants. We had a roadmap in 2021 with an estimate of 750,000 by 2022 […]
Fuel subsidy distributed to 10,000 farmers, fisherfolk in Soccsksargen
THE Department of Agriculture (DA) is currently distributing a tranche of the fuel subsidy to nearly 10,000 registered farmers and fisherfolk in Soccsksargen. “One of the most substantial operational expenses in farming and fishing is fuel,” the DA said in a statement. As of Sept. 27, oil companies have raised the price of fuel by […]
Bills establishing tech-voc special schools approved by House panel
A JOINED House committee approved on Tuesday bills seeking to create so-called “Meister” schools, which are geared towards training graduates for the needs of industry with a heavy concentration of specialized technical-vocational (tech-voc) courses. House Bill (HB) 652 or the proposed Meister Schools Act, authored by Albay Rep. Jose Ma. Clemente S. Salceda, hopes to […]
Murder of Metro Manila-based journalist prompts condemnation, calls for swift justice
THE MURDER of a radio journalist on Monday night in Las Piñas, a city in the Philippine capital region Metro Manila, has prompted condemnation from media groups and other sectors, who described the crime as a blow to press freedom. Radio journalist Percival Mabasa, 63, was killed by two assailants at the gate of a […]
Solon bats for P521-M additional budget to improve agri sector database system
A LAWMAKER on Tuesday asked the House Committee on Appropriations to provide an additional P521 million to the Department of Agriculture’s 2023 budget for the upgrade of its database management system for a more efficient delivery of aid and services to farmers and fisherfolk. “It is crucial that farmers and fisherfolk to register to the […]
Party-list files petition for higher pay for teachers, non-teaching personnel
A PARTY-LIST group representing the education sector on Tuesday filed a petition at the House of Representatives seeking to upgrade the salary rate of teachers and non-teaching personnel. The petition, which was signed by around 57,000 teachers, was submitted to the House committee on Appropriations. ACT-Teachers Party-list Rep. France L. Castro said the petition is […]
Amendments sought on bills protecting freelancers, workers in the informal sector
LABOR and employers groups as well as government agencies have sought amendments to bills seeking to protect freelancers and workers in the informal sector. Among the provisions that were cited for clarification include the definition of freelancers with regards the more general informal sector workers, compensation rates provided under contracts, and social security benefits. “We […]
PHL, UNIDO reaffirm commitment to sustainable industrial, economic development
THE PHILIPPINES and the United Nations Industrial Development Organization (UNIDO) have signed a joint declaration reaffirming their commitment to accelerating sustainable industrial and economic development, according to a statement released Monday by the Department of Foreign Affairs. “The Philippines’ partnership with UNIDO has been transformative to the country’s development landscape and has been instrumental in […]
Solon presses gov’t to stop offshore gaming operations in PHL
A HOUSE representative on Tuesday said the administration should heed the call of lawmakers to terminate all Philippine Offshore Gaming Operators (POGO), whether licensed or illegal, as the moral and social costs far outweigh economic benefits. POGOs spawn various crimes, including kidnap for ransom, prostitution and human trafficking, murder, extortion, online scamming, illegal drugs, and […]
DTI seizes uncertified products in Bulacan, Cebu, Davao
UNCERTIFIED construction and automotive products worth about P17.24 million were recently confiscated in Bulacan, Cebu, and Davao, the Department of Trade and Industry (DTI) announced on Tuesday. In Cebu, the department seized 81,649 pieces of uncertified tires for automotive vehicles, G.I. steel pipes, deformed steel bars, and low carbon steel wires worth P14.78 million. “Deformed […]
JRU stuns San Beda for its fourth win in row in NCAA Season 98
Games Today (Filoil EcoOil Centre) 12 p.m. — Mapua vs CSB 3 p.m. — Letran vs SSC-R JOSE Rizal University (JRU) shut down San Beda when it mattered most as it pulled off a giant-sized 83-80 victory yesterday to continue its fairy tale run in NCAA Season 98 at the Filoil EcoOil Centre. With their […]