BSP: Bid to develop Islamic banking gains
September 6, 2023
THE Bangko Sentral ng Pilipinas (BSP) is making headway in its efforts to promote initiatives to develop Islamic banking and finance in the Philippines.
Business
Australia prodded: Invest in, trade more with Asean
September 6, 2023
THE Australian government was advised to invest and trade more with Southeast Asia, including the Philippines, as the region is set to become the world’s 4th largest economy by 2040 thanks to an expanding middle class and higher consumer demand.
‘Asean+3 nations must adopt sustainable economic model’
September 6, 2023
PRESIDENT Ferdinand R. Marcos Jr. called on the Association of Southeast Asian Nations (Asean), China, Japan and South Korea to expand their food security mechanisms and transition towards a sustainable economic model.
‘Variable-rate RRP to mop up liquidity better’
September 6, 2023
SHIFTING to a variable-rate Reverse Repurchase (RRP) facility auction format will allow the Bangko Sentral to better mop up excess liquidity in the market, according to central bank officials on Wednesday.
AFP backs disposal of real properties for MUP seed
September 6, 2023
THE military supports the proposal of Defense Secretary Gilberto Teodoro Jr. for the Armed Forces of the Philippines (AFP) to dispose of its real properties as well as assets left from its Retirement and Separation Benefits System (RSBS) worth about&#...
Bid to junk escrow in seafarer bill gains
September 6, 2023
APPEALING to senators to address “anti-seafarers” provisions in the proposed Magna Carta law for seafarers, a partylist group has urged the Senate to pass a Magna Carta bill with security of tenure and other benefits for them, and without an escrow pr...
Media forum dissects diabetes, obesity, and the sweetened beverage tax
September 5, 2023
A media forum held in the 84-year-old Kamuning Bakery in Quezon City discussed the proposal to increase the excise tax on sweetened beverages. Called the “Pandesal Forum,” the event welcomed health and economic experts to dissect the issue, citing rec...
PHL to take leadership of Asean in 2026 instead of Myanmar
September 5, 2023
JAKARTA, Indonesia—Southeast Asian leaders decided that Myanmar won’t take over the rotating leadership of their regional bloc as scheduled in 2026, Asian diplomats and a leader said Tuesday, in the latest blow to efforts by its ruling generals to...
Pinoys top Asean arrivals, drawing Japan’s ‘arigato’
September 5, 2023
FILIPINOS are among the top visitors to Japan as of July this year, earning the earnest gratefulness of its Ambassador in Manila, Koshikawa Kazuhiko.
Neda eyes calibrated cuts in rice tariffs to ease prices
September 5, 2023
THE government may implement a calibrated reduction in rice tariffs to reduce the price of imported rice, according to the National Economic and Development Authority (Neda).
BSP flags continuing risks to financial PHL system
September 5, 2023
THE full impact of the increase in market rates “may not have yet run its full course” and efforts must be exerted to strengthen the financial system to absorb risks that come with it, according to the Bangko Sentral ng Pilipinas (BSP).
August inflation swells to 5.3% on price spikes
September 5, 2023
SUCCESSIVE typhoons have caused commodity prices to surge in August with vegetables like tomatoes and the country’s staple, rice, leading the charge to increase inflation to 5.3 percent, according to the Philippine Statistics Authority (PSA).
Palawan promotes WPS adventure tour
September 5, 2023
THE municipality of Kalayaan in Palawan joined the recently concluded Philippine Travel Mart (PTM) and offered adventure-seeking tourists discounts for visitors to the islands claimed by the country in the West Philippine Sea.
OP ’24 budget clears House amid CIF, ‘pork’ questions
September 5, 2023
MINORITY lawmakers on Tuesday scored the unscrutinized existence of the confidential and intelligence funds (CIF) and “presidential pork,” which they alleged exist in the proposed budget of the Office of the President (OP) for 2024.
Lalamove ties up with MMDA
September 5, 2023
Lalamove Philippines and the Metro Manila Development Authority (MMDA) have teamed up to enhance road safety measures for motorists.
SEC will soon issue revised sustainability reporting rules
September 5, 2023
The Securities and Exchange Commission (SEC) is drafting guidelines which will ensure the consistency and uniformity of sustainability measures that will be reported by listed Philippine companies.
Unregistered vapes still sold online as October deadline nears
September 5, 2023
Illicit vapes are still available in e-commerce sites in violation of Republic Act No. 11900, or the Vaporized Nicotine and Non-Nicotine Products Regulations Act, less than two months before the deadline to purge illegal sellers on online platforms, according to consumer advocacy groups. The Nicotine Consumers Union of the Philippines Inc. and the Consumer Choice […]
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The post Unregistered vapes still sold online as October deadline nears appeared first on Manila Standard.
AIM names Erramon Aboitiz new chairman
September 5, 2023
The Asian Institute of Management named Erramon “Montxu” Aboitiz as new chairman of its board of trustees effective Sept. 1, 2023. Montxu, who also serves as the chairman of the board of directors of UnionBank of the Philippines, joins an esteemed group of accomplished business leaders who share an unwavering commitment to advancing the growth […]
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The post AIM names Erramon Aboitiz new chairman appeared first on Manila Standard.
GSIS hikes stake in Metro Pacific to nearly 12%
September 5, 2023
State pension fund Government Service Insurance System increased its stake in infrastructure conglomerate Metro Pacific Investments Corp. to 11.98 percent GSIS said in a letter to MPIC it purchased 2.49 billion MPIC shares from the market from Aug. 23 to Sept. 4, 2023. The fund is now the beneficial owner of 3.43 billion MPIC shares, […]
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The post GSIS hikes stake in Metro Pacific to nearly 12% appeared first on Manila Standard.
Inflation rate up to 5.3 percent this August–PSA
September 5, 2023
Expensive vegetable, rice, and transport costs pushed up the country’s headline inflation rate to 5.3 percent in August 2023, according to the Philippine Statistics Authority (PSA).
Diagnostic Plus, Inc.’s Lovely Aranzanso-Co on finding purpose in business
September 4, 2023
The global pandemic might have put us in dark times these previous years. But just like any other tribulation, there is still something good that has come out of it. For some people, it is their new-found resilience, strength and resourcefulness broug...
Smash Mouth frontman Steve Harwell, known for the ubiquitous pop-rock hit ‘All Star,’ dies at 56
September 4, 2023
Steve Harwell, the longtime frontman of the Grammy-nominated pop rock band Smash Mouth that was behind the megahit “All Star” has died. He was 56.
MPIC and Hartasuma Sdn Bhd enter strategic Partnership to drive innovation in rail services and infrastructure development
September 4, 2023
Metro Pacific Investments Corporation (MPIC), the country’s leading infrastructure investments company, and Hartasuma Sdn Bhd, the forefront in integrated rolling stock and rail services provider in Malaysia, have announced a significant collaboration...
PBBM vows aid for rice retailers; off to Asean meet
September 4, 2023
PRESIDENT Ferdinand R. Marcos Jr. said the government will tap the P6.4-billion sustainable livelihood program (SLP) fund of the Department of Social Welfare and Development (DSWD) to provide aid to small-scale rice retailers affected by the price cei...
BSP adopts variable rate format for RRP
September 4, 2023
THE Bangko Sentral ng Pilipinas (BSP) will shift to a variable-rate format with a predetermined offer volume in the auction for the overnight reverse repurchase (RRP) facility this week.
Moody’s Analytics sees August inflation at 4.8%
September 4, 2023
MOODY’S Analytics expects the country’s inflation rate to average 4.8 percent in August, faster than the actual rate of increase in commodity prices in July.
House, DBM tweak 2023 budget for P2-billion rice retailers’ aid
September 4, 2023
THE House of Representatives is working closely with the Department of Budget and Management (DBM) to allocate P2 billion in cash assistance for retailers affected by the rice price ceiling imposed by the Palace, Speaker Ferdinand Martin G. Romua...
Ex-EMB head ‘missing’ since March–source
September 4, 2023
WILLIAM Cunado, the former Director of the Environmental Management Bureau (EMB) of the Department of Environment and Natural Resources (DENR), has not officially resigned, and neither did he officially file his retirement, a source said.
PHL issued 2K SPSICs in 2 months for rice-gap imports
September 4, 2023
THE Philippines issued over 2,000 sanitary and phytosanitary import clearances (SPSICs) for the importation of close to 2 million metric tons (MMT) of rice in the past two months to plug the shortfall in its local supply.
Migrante: Drop IACAT rules permanently
September 4, 2023
A MIGRANT advocate group has vowed to continue its protest against the new controversial travel requirements of the Inter-Agency Council Against Trafficking (Iacat) until it is finally scrapped.
Pascual tells Asean business to invest in nickel processing
September 4, 2023
TRADE and Industry Secretary Alfredo E. Pascual encouraged businesses present at the 43rd Asean summit to invest in the downstream processing of nickel, among others, noting that it is part of the Philippines’s “strategic” approach to enable the count...
Let’s build a Sustainable Future
September 4, 2023
Business and government must understand how sustainability requirements filter down throughout companies and government operations. Please allow me to highlight a few areas for your considerations.