PEZA hoping to find jobs for displaced OFWs
THE Philippine Economic Zone Authority (PEZA) said it hopes to provide jobs for repatriated Filipino workers at ecozones in the countryside while tapping more domestic suppliers to minimize disruptions in the supply chain for imported materials.
Japan agrees to P377-million aid package for PHL sugarcane
JAPAN has agreed to provide a P377-million grant to support sugarcane farmers affected by the coronavirus disease 2019 (COVID-19) pandemic, the Japanese Embassy to the Philippines said.
PHL, Japan exchange notes on 2 infrastructure projects
THE Philippine and Japanese governments signed diplomatic notes to formalize cooperation on two key infrastructure projects, the Department of Foreign Affairs said.
ADB says spending no basis for judging effectiveness of government response
THE size of a government’s spending package is not a reliable indicator of how effective its response is to the pandemic, an advisor to a research office run by the Asian Development Bank (ADB) said.
House bill to propose pooling of resources by farmers’ cooperatives
REPRESENTATIVE Geraldine B. Roman of Bataan’s First District has filed a bill seeking to organize farmers’ associations in “clusters” to encourage the pooling of resources that will reduce production costs and enable direct marketing, leading to potentially higher farm incomes.
Rural power co-ops dispute NGCP estimates of consumer charges
RURAL electricity cooperatives disputed claims by the National Grid Corp. of the Philippines (NGCP) that their charges to rural consumers account for a third of all power bills.
PHL awaiting Mexico response on preparations for FTA
THE Philippines has proposed an agenda for talks with Mexico to form a joint economic commission ahead of a possible free trade agreement (FTA), the Department of Trade and Industry (DTI) said.
World Bank says coronavirus to shrink 2020 global output by 5.2%
WASHINGTON — The coronavirus will cause global economic output to contract by 5.2% in 2020, the World Bank said on Monday, warning that its...
Mindanao railway bidder shortlist expected this month
DAVAO CITY — The government is expecting to receive the shortlist of bidders for the first phase of the China-funded Mindanao railway from the Chinese Embassy within the month, a transport official said.
New Clark airport terminal building almost completed
THE new passenger terminal building at Clark International Airport is on track for completion by next month, bringing the northern gateway’s overall capacity to 12.2 million passengers yearly.
PCCI backs more liberal foreign direct investment regime to aid recovery
THE Philippine Chamber of Commerce and Industry (PCCI) said Congress needs to pass laws further opening up the economy to foreign investment by August to help the economy recover from the impact of the pandemic.
Unemployment rate seen hitting 14.5% in 2020
THE unemployment rate is likely to average 14.5% in 2020 with the next labor force survey expected to reflect a more dismal picture of the job market than the April findings and a grimmer outlook for the economy, according to Nomura Global Markets Research.