THE Energy department said the Department of Foreign Affairs (DFA) will determine the next move for joint oil and gas exploration after the Supreme Court (SC) ruled against any undertaking with foreign partners in disputed waters. “Perhaps the DFA could answer on how this will affect (the government’s options) moving forward as they are the […]
Category: Hot News
BEPS 2.0: On Pillar 1 and its challenges from a Philippine perspective
As multinational entities (MNEs) continue to expand their businesses internationally, Base Erosion and Profit Shifting (BEPS) persists as a major concern by taxing authorities. Given the differences in tax policy among countries, MNEs implement tax strategies that effectively lower their tax bases or shift profits to countries with more favorable tax policy. To address this […]
Philippines warns of surge from new variants
By Kyle Aristophere T. Atienza, Reporter THE PHILIPPINES on Wednesday reported 128 more coronavirus infections involving Omicron subvariants, as local health authorities warned of a potential surge next month. There were 52 more cases of BA.2.3.20, one BN.1, 10 BA.5, 28 XBB and 13 XBC infections, the Department of Health (DoH) said in a report, […]
No response from Philippines as Kyiv reaches out to talk about Russian war
UKRAINE had been seeking to arrange a phone call between President Volodymyr Zelensky and Philippine President Ferdinand R. Marcos, Jr. to discuss the war against Russia. The European country, which Russia invaded in February 2022, had been seeking the call since Mr. Marcos took office in June, Denys Mykhailiuk, counsellor of the Ukraine Embassy in […]
More senior cops from Visayas heed DILG call to resign
TWO generals and 19 colonels from the Police Regional Office in Eastern Visayas have quit their jobs after a call to cleanse their ranks of “a deep infection” of the illegal drug trade, according to a police director. Police Regional Office 8 Director Rommel Francisco Marbil told the ABS-CBN News Channel on Wednesday those who […]
Senator opposes Manila airport sale plan
SENATOR Joseph Victor G. Ejercito has opposed a plan to privatize the Philippines’ main international airport, saying public utility that is vital to national security should remain in government hands. “What happened during the fiasco should be an eye opener for us, but when we talk about utilities concerning national security, I’m still thinking that […]
Residents evacuated in Eastern Visayas, parts of Mindanao as new LPA brings more rain
FAMILIES continue to be evacuated in parts of Mindanao and the Eastern Visayas region as another low pressure area (LPA) has been dumping more rain in areas already swamped since late December. In Eastern Visayas — composed of the provinces of Leyte, Biliran, Southern Leyte, West Samar, Eastern Samar and Northern Samar — the regional […]
Bangsamoro region gets World Bank, UNDP help on beefing up disaster management
THE BANGSAMORO region in southern Philippines is getting support from the World Bank and the United Nations Development Programme (UNDP) as it beefs up its disaster management capacity following the impact of a tropical storm in October where 62 people died and thousands were displaced. A program called PlanSmart Ready-to-Rebuild (R2R) kicked off last week, […]
Senate agri panel chair tells DA: Set sights on self-sufficiency, not importation
SENATOR Cynthia A. Villar on Wednesday called out the Department of Agriculture (DA) for its continuing reliance on importation instead of focusing on building up self-sufficiency through programs that will help farmers improve their yield. In a hearing on Senate Bill 120 or the Corn Industry Development bill, the chair of the agriculture and food […]
Marcos orders faster distribution of land titles to agrarian reform beneficiaries
PRESIDENT Ferdinand “Bongbong” R. Marcos, Jr. has ordered authorities to fast-track the distribution of land titles to beneficiaries of agrarian reform, according to Malacañang. During a Cabinet meeting on Tuesday, Mr. Marcos tasked the Department of Agrarian Reform (DAR) to “step up efforts to distribute the certificates of land ownership awards (CLOAs) to beneficiaries,” the […]
Solon renews push for bill recognizing Martial Law survivors
A LAWMAKER on Wednesday pushed the passage of a bill that seeks to pay back martial law victims who were denied benefits under an old law for lack of evidence. Kabataan Party-list Rep. Raoul Danniel A. Manuel, who led the filing of House Bill 3505 or the New Human Rights Victims Reparation and Recognition Act […]
Peso climbs to over six-month high vs dollar
THE PESO strengthened to an over six-month high against the dollar on Tuesday as weak services activity data and expectations of easing inflation out of the United States fueled hopes of smaller rate hikes from the US Federal Reserve. The local currency closed at P54.87 versus the greenback on Tuesday, climbing by 24 centavos from […]
PSE index declines ahead of US inflation report
STOCKS closed lower on Tuesday, mirroring Wall Street’s decline, ahead of the release of December US consumer inflation data, which could give clues on the US Federal Reserve’s next policy move. The benchmark Philippine Stock Exchange index (PSEi) lost 33.55 points or 0.49% to close at 6,756.69 on Tuesday, while the broader all shares index […]
Onion importers given until Jan. 27 to land their shipments
ONION importers cleared to ship in 21,060 metric tons (MT) of the produce have been given until Jan. 27 to bring in their cargoes in order not to unduly interfere with market conditions during the domestic onion harvest, the Department of Agriculture (DA) said. According to a letter to the Bureau of Plant Industry (BPI) […]
Ports authority says Calapan terminal, largest in PHL, due to open in March
THE Philippine Ports Authority (PPA) said on Tuesday that the country’s largest passenger terminal building is due to open in March at the Port of Calapan, Oriental Mindoro. The P353-million project is expected to be completed on Feb. 18, the agency said in a statement. PPA officials, led by General Manager Jay Daniel R. Santiago, conducted an inspection […]
DPWH rules out Visayas-Mindanao bridge as unfeasible
By Arjay L. Balinbin, Senior Reporter THE Department of Public Works and Highways (DPWH) said it is not feasible to build a bridge connecting Mindanao and Visayas because the waters at the entrance of the Surigao Strait are too deep. “It’s not feasible. Supposedly we could build that from Surigao to Southern Leyte pero malalim (but […]
PHL data center prospects deemed promising due to digitalization push
THE PHILIPPINES is viewed as a promising market for data centers due to its digitalization efforts and surging use of e-commerce, according to firms providing real estate and legal services to potential locators. Monica Gonzales, lead data center officer for real estate consultancy Santos Knight Frank, said in a recent forum organized by the European […]
Confidence in rising incomes, inflation worries among the main findings of consumer survey
HOPES for rising incomes this year as well as concern over rising inflation were the main findings of a survey on consumer sentiment conducted by TransUnion, a US credit reporting agency. “Consumers’ mixed sentiments reflect the complex dynamics facing the Philippines along with many other nations, as the world continues to recover from more than […]
Extension of low tariff scheme seen encouraging more UK pork shipments
THE volume of pork shipped in from the UK will likely increase with the extension of a low-tariff scheme designed to contain inflation, the British Chamber of Commerce of the Philippines (BCCP) said. “We anticipate further growth in our pork exports in 2023, although the base is now higher, and therefore the growth rate may […]
Philippines faces COVID uptick spurred by XBB 1.5, says OCTA
By Kyle Aristophere T. Atienza, Reporter THE PHILIPPINES should brace for an uptick in coronavirus infections spurred by the XBB 1.5 variant, even as the positivity rate in many areas including the capital region has declined, according to the OCTA Research Group. The Philippines would probably face an uptick in infections as early as February […]