BSP rates seen stable until early 2023 on ‘transitory’ inflation

INFLATIONARY PRESSURES are considered temporary, reducing the likelihood of a Philippine rate hike next year, with the central bank potentially retaining current levels until the first quarter of 2023, Oxford Economics said.

Education oversight bill passed by House on 3rd reading

THE HOUSE of Representatives approved on third reading Wednesday a bill that proposes to grant legislators oversight authority over education to help it recover from the COVID-19 (coronavirus disease 2019) pandemic.

NEDA setting up innovation office to oversee RA 11293

THE NATIONAL Economic and Development Authority (NEDA) will establish an office that will help implement a 2019 law designed to support research and fund enterprises geared towards developing “innovative solutions.”

House ratifies microgrid bill bicameral conference report

THE HOUSE of Representatives ratified Wednesday the bicameral conference committee report on a bill seeking to promote the use of microgrid systems for total electrification. 

Farm lobby calls for chicken import ban after bird flu outbreaks 

A FARMING industry association, the Samahang Industriya ng Agrikultura (SINAG), said the government needs to ban chicken and other poultry imports due to outbreaks of highly pathogenic avian influenza (HPAI), also known as bird flu, in Asia and Europe. 

Gov’t raises initial P113B via RTBs

THE PHILIPPINE government on Tuesday raised an initial P113.545 billion in five-and-a-half-year retail Treasury bonds (RTBs), as it seeks more funds for its post-pandemic recovery measures.   

Shares rise as remittances climb 5.2% in Sept.

PHILIPPINE SHARES rose on Tuesday following the release of data showing cash remittances from overseas Filipino workers (OFWs) increased in September.

Peso down ahead of US retail sales data

THE PESO depreciated versus the greenback for the second straight day on Tuesday amid preference for the dollar on expectations of strong US retail sales data.

No subsidy cuts planned as DoF evaluates crop insurer’s books

THE FINANCE department said it has asked the Philippine Crop Insurance Corp. (PCIC) to make more comprehensive financial disclosures but added that it has no plans to reduce the insurer’s subsidies after the company was placed under the department’s management earlier this year.

Startup prospects seen improving by next year

THE ENVIRONMENT for startups is expected to improve next year as the economy undertakes its digital transformation as it recovers from the pandemic.