House Deputy Speaker Rufus Rodriguez on Wednesday rejected China’s proposition for the Philippines to respect Beijing’s sovereignty in the West Philippine Sea, saying it should pull out all its military and civilian vessels in the area because it is not part of their exclusive economic zone...
The Department of Finance (DOF) said green shoots of the Philippine economic recovery are growing, citing two recent data indicating growth in trade and manufacturing sectors. In an Economic Bulletin released by the DOF, Finance Undersecretary and Chief Economist Gil S. Beltran noted that recovery...
China is committed to expand investment ties with the Philippines following a surge in bilateral trade in the first quarter of the year. Chinese Ambassador to the Philippines with President Duterte (File photo: Chinese embassy/Manila Bulletin) Chinese Ambassador to the Philippines Huang Xilian said...
President Duterte has formally appointed Karl Kendrick T. Chua as socioeconomic planning secretary as well as head of the National Economic and Development Authority (NEDA). One-year after serving the positions in an acting capacity, Chua is now officially the government’s chief economist and...
Contecon Guayaquil S.A. (CGSA), International Container Terminal Services, Inc. (ICTSI)’s subsidiary in Ecuador, welcomed the creation of a special economic zone at the country’s main seaport to boost foreign trade. This week, CGSA, together with national government and port authority...
The possibility of the government opening up the local market to more imported sugar remains to be one of the major factors why the country’s local sugar production is seen not improving this year or in the next years to come. This, according to international data, has remained to be “the...
Amid the prevalence of African Swine Fever (ASF), state-run lender Land Bank of the Philippines (LANDBANK) has doubled its credit commitment to the local swine industry from P15 billion to P30 billion. This, according to the bank, will help local pork producers and feed millers to repopulate and...
Meat prices continued to rise despite the recent 150 percent surge in pork import volume, casting doubt on the government’s recent move to bring down tariffs on imported pork. A customer pays for pork at a roadside market stall in Mandaluyong City, Manila, the Philippines. (Bloomberg file) “The...
Just as many citizens were looking forward to being footloose for out-of-town Holy Week excursions, the Inter-Agency Task Force (IATF) for Management of Emerging Infectious Diseases announced the enforcement of a General Community Quarantine (GCQ) covering Metro Manila, Bulacan, Cavite, Laguna, and...
Foreign direct investments (FDI) last year dropped 24.6 percent to a net inflow of $6.542 billion from $8.671 billion in 2019, but it was more than the Bangko Sentral ng Pilipinas’ (BSP) $6-billion projection for 2020. “The disruptive impact of the pandemic on global supply chains and the weak...
Japanese motorcycle giant Yamaha Motor has expanded its Philippine motorcycle manufacturing operation with P2.691 billion investments and hiring of additional 1,300 jobs for its plant in Batangas. Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza, who attended the...
Local businesses are strongly supporting initiatives to reopen further the Philippine economy, which has suffered from long lockdowns and quarantines due to COVID-19. “We, the undersigned, express our strong support for the initiatives of the Duterte administration to open the Philippine economy...
