The Department of Foreign Affairs (DFA) believes that the four Filipino crewmen of Portuguese-flagged container ship MSC Aries will soon be released by the Iranian government. DFA Undersecretary for Migrant Workers’ Affairs Eduardo de Vega said during the Bagong Pilipinas briefing that the...
Investors pushed anew for higher rates on short-term debt papers following hawkish signals from the US Federal Reserve and other local monetary officials. At an auction on Monday, April 15, the Bureau of the Treasury raised P15 billion as planned with the full-award of Treasury bills (T-bills). The...
The Bureau of the Treasury reported that the Marcos administration significantly increased its borrowing in February this year, primarily from the domestic market. In the second month of 2024, the national government's gross borrowings totaled P419.97 billion, higher by 22 percent compared to...
The head of the Government Service Insurance System (GSIS) claimed that former Ombudsman Merceditas Gutierrez is ineligible to serve as a trustee due to not meeting the required qualifications at the time of her appointment. The GSIS President and General Manager Jose Arnulfo A. Veloso submitted...
The Government Arsenal (GA), an agency under the Department of National Defense (DND) in charge of producing basic weaponry and ammunition for the military and the police, has been flagged by the Commision on Audit (COA) over "abnormal losses" incurred in the production of bullets in 2023....
The United States and Japan intend to provide Manila at least $8 million for the development of emerging technologies and a reliable information communications technology ecosystem in the Philippines. President Ferdinand 'Bongbong' Marcos Jr., US President Joe Biden, and Japan Prime Minister Fumio...
The Government Service Insurance System (GSIS) announced plans to discontinue the issuance of the Unified Multi-purpose Identification (UMID) eCard by the end of May this year. Based a memorandum signed GSIS President and General Manager Jose Arnulfo A. Veloso dated April 2, 2024, the pension...
Investors pressed for an increase in Philippine benchmark interest rates for short-term loans following the rise in inflation rate and hawkish signals from monetary officials. At the Treasury bureau’s auction on Monday, April 8, the national government successfully raised P15 billion through the...
The amount of subsidy the Marcos administration extended to government-owned and controlled corporations (GOCCs) was raised to 35 percent in February, as the bulk of it went to the National Irrigation Administration (NIA). Based on the Bureau of the Treasury data, financial support extended to...
President Marcos has appointed a new secretary of the National Commission on Muslim Filipinos (NCMF). President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Malacañang announced that Marcos designated Sabuddin Abdurahim as the new NCMF chief, replacing Guiling Mamondiong....
The national government's debt surpassed the P15-trillion mark in February. According to the Bureau of the Treasury's report on Wednesday, April 3, government debt load soared by P388 billion in February alone on the back of borrowing spree from domestic lenders. The borrowing during the month...
The Marcos administration’s budget deficit expanded by half in February due to higher public spending and the slower growth in non-tax revenues, data from the Bureau of the Treasury showed. The national government's fiscal gap amounted to P164.7 billion last month, up 55 percent compared to the...
