Category: Hot News

DETAINED former Senator Leila M. De Lima’s former aide and two others tagged in the same illegal drug trafficking case have asked a Muntinlupa judge to stop handling the case, citing a conflict of interest.  In three separate motions, the co-accused sought for Muntinlupa Presiding Judge Romeo S. Buenaventura to inhibit from the pending drug […]

THE COMMISSION on Audit (CoA) has flagged the Cagayan Economic Zone Authority (CEZA) for failing to fully utilize almost P598 million worth of infrastructure projects that were completed last year.   “The infrastructure projects completed in calendar year 2022 costing P597.92 million were idle/underutilized and only generated minimal revenue,” its 2022 audit report made available on […]

IMMIGRATION agents have arrested a Chinese woman wanted by Beijing authorities for human trafficking, the Bureau of Immigration (BI) said on Tuesday.  In a statement, BI Intelligence Chief Fortunato Manahan Jr. said immigration officers intercepted the fugitive at the Ninoy Aquino International Airport Terminal 2 on June 11. She was bound for Kuala Lumpur, Malaysia.   […]

MILITARY and police bomb experts, acting on reports from villagers, foiled an attempt by local terrorists on Monday to topple a relay tower of the national power grid system in the southern town of Pikit.     Philippine Army 6th Infantry Division commander Alex S. Rillera reported on Tuesday that the bomb disposal operation was prompted by […]

THE Bureau of Fisheries and Aquatic Resources (BFAR) said on Tuesday that a seven-year fisheries project will launch in August after obtaining funding approval from the World Bank. In a statement, the BFAR said that the Philippine Fisheries and Coastal Resiliency (FishCoRe) project, which will take in funding of $209 million part-financed by the World […]

THE PHILIPPINES is seeking a $450-million loan from Beijing-based Asian Infrastructure Investment Bank (AIIB) to support its public health programs, the bank said. “The proposed policy-based loan will provide financing for the efforts of the government of the Philippines to strengthen public health systems in the post-pandemic era and enhance the country’s preparedness and response […]

THE Civil Aviation Authority of the Philippines (CAAP) has signed a memorandum of agreement on Tuesday with Borongan City in Eastern Samar covering the development and maintenance of the city’s airport. “The Borongan City government, recognizing the increasing demand for air travel in the region, partnered with CAAP and air carriers (after) the airport launched […]

THE electric vehicle (EV) industry plans to press the government to provide incentives that will encourage the broad adoption of EVs, the industry organization’s chairman said. Rommel T. Juan, who chairs the Electric Vehicle Association of the Philippines, said the industry will map out its strategy for a quick EV rollout in an October convention. […]

THE Government Service Insurance System (GSIS) said on Tuesday that it reduced its loans and receivables at the end of April by 7.84% compared with the end of 2022 after restructuring loans in order to provide relief to borrowers. The pension fund for public-sector workers said in a statement that outstanding loans totaled P42.01 billion […]

THE growth in wholesale prices of construction materials in Metro Manila eased to a 15-month low in May as high borrowing costs dampened construction demand. According to preliminary data from the Philippine Statistics Authority (PSA), the construction materials wholesale price index (CMWPI) in the National Capital Region (NCR) grew 6.5% year on year in May, […]

THE Department of Energy (DoE) said it registered energy efficiency investments by designated establishments (DEs) in 2021 and 2022 totaling P6.8 billion. “I am very pleased that our DEs are moving forward on EEC (energy efficiency and conservation). These accomplishments bring multiple benefits for the companies such as enhancing the sustainability of the energy system, […]

MOODY’s Analytics raised its growth projection for the Philippines to 6.1% this year from 5.7% previously, after identifying the country as a “growth leader” in the region. Moody’s updated its previous estimate issued in March and aligned its view with the government’s official 6-7% full-year target. In a research note on Tuesday, Moody’s Analytics Chief […]

GAS-FIRED power generation remains key to Philippine energy security despite the government’s efforts to increase the share of renewables on the grid, Fitch Solutions BMI said on Tuesday. “We believe that the market is working towards increased energy security, mainly in supplying the electricity sector, evidenced by the operating license extension of the Malampaya gas […]

By Adrian H. Halili PHILIPPINE stocks may move sideways this week amid bargain hunting as investors await the US Federal Reserve’s monetary policy ruling. “Local equities remained mostly listless last week, as positive inflation headlines failed to deliver any strong upward momentum for the local market,” online brokerage 2TradeAsia.com said in a note. The benchmark Philippine Stock […]

THE PHILIPPINE PESO would probably breach its weakest level of P59 a dollar hit in October last year if it continues to weaken to P56.50 in the short term, according to foreign exchange brokerage FBS. “In the less likely scenario that the price breaks and holds above the level of P56.50, the price may move […]

THE Board of Investments (BoI) said renewable energy (RE) investments could account for a third of its P1.5 trillion target for investment approvals. BoI Chairman and Trade Secretary Alfredo E. Pascual told reporters last week that other significant investments are expected to be made in related industries like solar cell manufacturing. “We are also talking […]

THE Department of Energy (DoE) said the power supply is expected to stabilize over the next two or three years with the construction of new generating projects. “We hope that this will remain stable not only this year but with incoming new power sources also in the next two to three years,” Energy Secretary Raphael […]

A LOOMING El Niño dry spell is expected to reduce rice production in Southeast Asia, raising the prospect of higher food prices, the World Bank said. “The rapid emergence of El Niño has raised concerns about possible impacts on rice production in South and Southeast Asia, which could trigger further price increases that could hurt […]

THE agriculture industry sought relief from a recent toll hike on the key highway leading to the north of the capital, arguing that food delivery trucks need to be allowed free passage to minimize the impact on food prices. “Food deliveries especially perishable basic commodities (should be granted free passes)… mas maganda sana para minimal […]

THE Philippine Amusement and Gaming Corp. (PAGCOR) said it is cracking down on illegal offshore gaming activities in the Clark Freeport Zone. PAGCOR Assistant Vice-President for Offshore Gaming Licensing Jessa Mariz R. Fernandez said in a statement that the regulator will impose heavier sanctions on licensed offshore gaming operators and accredited service providers who violate […]