Trade deficit estimate for 2020 revised to $24.597B from $21.83B previously
REVISIONS to the trade data for 2020 yielded a larger than initially estimated deficit of $24.597 billion, compared with the tally announced in January of $21.830 billion, the Philippine Statistics Authority said Wednesday.
Government firms remit P21.44B in dividends to national Treasury
TEN GOVERNMENT-OWNED and -controlled corporations (GOCCs) remitted a combined P21.44 billion in dividends to the Treasury just before the close of the first quarter, helping finance the coronavirus containment effort, the Department of Finance (DoF) said Tuesday.
UN ESCAP downgrades Philippine growth forecast as virus infections surge
THE PHILIPPINE economy is expected to expand by 6.5% this year, downgraded from the previous estimate of 7% due to its failure to contain the coronavirus outbreak, a United Nations (UN) agency said.
Philippine credit quality to lag behind peers, says S&P
THE RECOVERY in the Philippine banking system’s credit quality is lagging the Asia-Pacific region due to renewed quarantines following its inability to control the coronavirus outbreak, according to S&P Global Ratings.
Gov’t starting informal talks to join Trans-Pacific Partnership
THE PHILIPPINES is starting informal talks with members of a transpacific trade deal as part of the process of indicating interest to join the agreement.
India proposes collaboration to upgrade small-farm operations
INDIA has proposed bilateral collaboration with the Philippines in the areas of agricultural technology and financial technology to benefit small farmers, an agriculture industry association said.
PHL freeze on US sugar exports billed as raising farm incomes
THE PHILIPPINES has suspended sugar exports to the US, which industry officials anticipate may raise farmer incomes if they devote all their production to the domestic market.
PHL deemed to have regressed on 5 SDG sub-targets
THE PHILIPPINES is regressing on five of the 32 sub-target milestones that make up the 17 Sustainable Development Goals (SDGs), an official with the Philippine Statistics Authority (PSA) said.
DoE soliciting comment on draft incentive eligibility rules
THE DEPARTMENT of Energy (DoE) is soliciting for comment a draft circular outlining how energy efficiency (EE) projects will be endorsed to the Board of Investments (BoI) for fiscal incentives.
Economic value of marine turtles, parrots seen at $70-M/year
A RESOURCE valuation system has reckoned the economic worth of Philippine marine turtles and blue-naped parrots at up to $69.8 million a year, the Department of Environment and Natural Resources (DENR) and Asian Development Bank (ADB) said.
PHL tariff revenue losses from RCEP deal expected to be mild
THE GOVERNMENT is expected to forego tariff revenue of over $58 million a year from the 15-country Regional Comprehensive Economic Partnership (RCEP) trade deal, among the smallest projected losses in the region, Boston University (BU) said, citing the findings of a study.
WFH staff seen at 34% of workforce by 2023
FULL-TIME EMPLOYEES working from home are expected to account for 34% of the workforce by 2023 compared to 3% in 2017, triggering real estate spending cuts and generating transport savings, according to advisory firm Willis Towers Watson, citing the results of a survey.