NEDA sees economy normalizing, 75% of companies now operating
THE National Economic and Development Authority (NEDA) said economic activity is heading “towards normalcy” despite expected further setbacks to growth in the second quarter.
PSA jobless estimate deemed ‘conservative,’ real total could be 10-M unemployed
THE number of unemployed Filipinos could be closer to 10 million rather than the official estimate of 7.3 million in April, a University of the Philippines professor said.
Jacinto says telecom reform EO in final stages
NEWLY-APPOINTED Undersecretary Ramon P. Jacinto of the Department of Information and Communications Technology (DICT) said an executive order (EO) introducing “stronger reforms” in the telecommunications industry is now in its final stages.
PHL seen among worst-hit ASEAN economies due to extent of lockdown
THE Philippines could be among the worst-hit ASEAN economies with a projected contraction of 5% in 2020, second only to a projected decline of 6% for Singapore, Oxford Economics said.
Natural gas consumption declines in first 5 months
NATURAL gas consumption declined year on year in the five months to May, according to the Department of Energy’s Ecosystems Research and Development Bureau (DoE-ERDB).
Online transaction complaints surge during lockdown
COMPLAINTS involving online transactions rose to 8,059 at the height of the lockdown from 985 in the three months to March, the Department of Trade and Industry (DTI) said.
Agencies’ cash utilization rate declines in first five months
GOVERNMENT agencies’ cash usage rate was 78% in the first five months, much lower than the year-earlier level of 92%, the Department of Budget and Management (DBM) said.
Global oil market will take time to hit supply/demand equilibrium
REBALANCING supply and demand in the oil market may take time as lockdown measures ease across the globe, according to Moody’s Investor Service.
BoC collection target slashed to P542 billion
THE Bureau of Customs (BoC) collection target for 2020 has been reduced to P541.703 billion with the severe economic slowdown expected to persist through the remainder of the year.
COVID-19 spending reckoned at P355 billion
GOVERNMENT spending on its coronavirus disease 2019 (COVID-19) containment effort totaled P355.084 billion as of Tuesday, June 9, according to the Department of Budget and Management (DBM).
DoT clearance required for hotels to reopen
THE Interagency Task Force for the Management of Emerging Infectious Disease (IATF-EID) on Wednesday ordered hotels and other accommodation establishments (AEs) to obtain an authorization from the tourism department before resuming operations.
ADB 2020 lending to PHL at record $2.6B
THE Asian Development Bank’s (ADB) lending to the Philippines has hit a record $2.6 billion so far this year, exceeding the 2019 level of $2.5 billion.