Category: Hot News

THE PESO strengthened to an over one-month high against the dollar on Tuesday as banking sector concerns eased and expectations of a dovish move from the Philippine central bank. The local currency closed at P54.44 versus the dollar on Tuesday, appreciating by 23.50 centavos from Monday’s P54.675 finish, data from the Bankers Association of the […]

STOCKS closed in the green on Tuesday as market sentiment improved on easing worries over the banking sector and expectations of smaller rate hikes from central banks in the Philippines and in the United States. The benchmark Philippine Stock Exchange index (PSEi) increased by 79.73 points or 1.23% to close at 6,530.75 on Tuesday, while […]

PRESIDENT Ferdinand R. Marcos, Jr. has tasked the Commission on Devolution with studying a delayed timeline for transferring National Government (NG) functions to local government units (LGUs), citing concerns about the LGUs’ ability to carry out these functions. Budget Secretary Amenah F. Pangandaman made the announcement after a meeting with Mr. Marcos and members of […]

THE House of Representatives approved on third and final reading a bill requiring real estate investment trusts (REITs) to reinvest the proceeds of their fundraising activities in the Philippines. Legislators also passed on third reading measures encouraging the private sector to invest in crop insurance and establishing a financing program for micro and small enterprises. […]

THE Department of Energy (DoE) is empowered to accelerate the charging-station rollout beyond the legal minimum in order to hasten electric vehicle (EV) adoption, Senator Sherwin T. Gatchalian said. “Under the law, (the DoE) can mandate the utilities to roll out a minimum number of charging stations and they can mandate the establishments to come […]

GERMAN SOLAR and energy-efficiency companies are seeking out opportunities in the Philippines, according to the German-Philippine Chamber of Commerce and Industry (GPCCI). The GPCCI said in a statement that five German companies participated in the Energy Efficiency and Solar for Buildings conference in Makati City on Tuesday. These five German companies were SolarNext AG, MIG […]

THE aquaculture industry said it needs longer leases to earn an adequate return for developing fishponds out of mangrove areas. “One of the problems is that fishponds are still tenurial under the fishpond lease agreement (FLA). I think there are around 60,000 hectares of fishponds under the FLA that are about to expire,” according to […]

THE domestic trade in goods fell 8.3% year on year by value in the fourth quarter, the Philippine Statistics Authority (PSA) reported on Monday. According to preliminary data from the PSA’s Commodity Flow in the Philippines report, the value of goods traded in the three months to December fell to P162.74 billion. A year earlier, […]

THE Bureau of Internal Revenue (BIR) said it will go after accountants that certify false financial statements as well as taxpayers using fake receipts to evade taxes. “One of my major areas of concern in the BIR is aggressive and fearless enforcement activities. This includes filing of cases against accountants who have blatantly violated our […]

THE Department of Agriculture (DA) said on Tuesday that it has confiscated meat, poultry and fishery products worth P120 million on suspicion of smuggling, after inspections carried out at seven storage facilities in San Rafael Village, Navotas City. In a joint operation led by the Bureau of Customs, the inspectors confiscated frozen agricultural products at […]

PHILIPPINE participation in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) may result in a decline in gross domestic product (GDP), according to the Philippine Institute for Development Studies (PIDS). “The decline in the GDP connected with the Philippines’ participation in the CPTPP can be seen in the deterioration of the country’s trade balance. […]

THE House agriculture and food committee has issued a show-cause order to executives of cold storage companies, asking them to explain why they should not be cited in contempt for failing to attend hearings investigating the alleged manipulation of onion prices.    On Tuesday, legislators issued show-cause orders to Eric Fabilona and Sherman Chan of Tian Long […]

THE UNITED States has sent eight experts to help the Philippines contain the oil spill from a sunken fuel tanker that authorities said has affected as many as 20,000 hectares of coral reefs. The American experts arrived in Pola, Oriental Mindoro on Tuesday to support the oil spill response operations of the Philippine Coast Guard […]

By Alyssa Nicole O. Tan, Reporter ONE of the traders handpicked by the government of Philippine President Ferdinand R. Marcos, Jr. in February to import sugar amid supply issues earned more than P10 billion amid overpricing, according to an opposition senator. “This is not just a state-sponsored formation of a cartel,” Senator Ana Theresia “Risa” […]

MARITAL infidelity amounts to psychological abuse that is punishable by the law on violence against women, according to the Philippine Supreme Court. In a decision dated March 1, the tribunal affirmed the conviction of an unnamed man for “causing mental or emotional anguish, public ridicule or humiliation” on his wife after he had an affair. […]

THE DEPARTMENT of Health (DoH) on Tuesday flagged the persistent malnutrition in the Philippines, noting that the stunting rate among children aged 0-23 months had plateaued over the last 10 years.     At least 21.6% of infants and toddlers nationwide are stunted, Health officer-in-charge Maria S. Vergeire told a briefing streamed live on Facebook.  “This 21.6% […]

THE COMMISSION on Elections (Comelec) on Tuesday said it will release the voting transmission logs of last year’s national and local elections to assure the public that there was no fraud in the tally.   “To erase doubts as to the transmission of the votes in the first hour after the close of polls in 2022 […]

A SENATOR has called out the Bureau of Immigration (BI) for its prevailing inspection practices wherein frontline officers abuse their power over departing travelers.  “Of the more than 30,000 that were offloaded and disturbed by the immigration, less than 4.2% had a semblance of a basis,” Senator Ramon B. Revilla, Jr. said in Filipino in […]

THE HEALTH department should protect the Philippines’ public assets from lawsuits under a global COVID-19 vaccine-sharing initiative by making these exempt from the “waiver of sovereign immunity” clause, the Department of Justice (DoJ) said.    The clause allows the government to be sued by another state in case the contract is breached, the DoJ noted.   In […]

A LAWMAKER wants government offices to start shifting to solar power to cut electricity cost and promote renewable energy use.    House Majority Leader and Ilocos Norte Rep. Ferdinand Alexander A. Marcos filed House Bill No. 7625, seeking the installation of solar energy facilities in all government buildings and offices.  “It is imperative that we further […]