Take two for security of tenure measure
THE LABOR department and the Senate have taken steps to revive a proposal that would tighten controls on labor contracting, a few days after President Rodrigo R. Duterte struck down a similar measure just before it would have lapsed into law last Saturday for unduly burdening business.
Pacific Online, Berjaya share prices succumb to lotto uncertainty
SHARES of listed companies with equipment lease deals with the Philippine Charity Sweepstakes Office (PCSO) plunged on Monday, following President Rodrigo R. Duterte’s order on Friday last week to suspend all PCSO-sanctioned gaming operations due to “massive corruption” involved.
DoF assures no major health care impact from PCSO games’ suspension
INDEFINITE SUSPENSION of Philippine Charity Sweepstakes Office (PCSO)-sanctioned gaming will have minimal impact on universal health care (UHC) funding, since lottery proceeds are estimated to contribute just P3 billion or 1.2% to the P257 billion needed for UHC implementation next year, a senior official of the Department of Finance (DoF) said.
Inflation impact on poor eases in June
JUNE inflation, as experienced by low-income families, softened to its slowest pace in 18 months, according to the Philippine Statistics Authority.
LTFRB sets formula for fare adjustments
THE public land transport regulator has set a formula for changes in jeepney, bus, taxi and UV Express fares that takes into account fuel pump price movements, in order to remove the need for operators to seek regulatory approval for each adjustment.
Finance dep’t checks effect of lotto stoppage on funding of universal health care
THE FINANCE DEPARTMENT (DoF) is now assessing the impact on implementation of Republic Act (RA) No. 11223, or the Universal Health Care (UHC) Act, of the closure order which President Rodrigo R. Duterte issued Friday night on all Philippine Charity Sweepstakes Office (PCSO)-sanctioned lottery operations, senior officials of the department said last weekend.
Global economic growth rut at risk of deepening despite rate cuts — poll
BENGALURU -- A global economic growth rut risks deepening, despite expectations that major central banks will cut rates or ease policy further, according to Reuters polls of over 500 economists who remain worried about the US-China trade war.
Duterte strikes down stricter labor contracting rules
PRESIDENT Rodrigo R. Duterte (PRRD) has vetoed Senate Bill No. 1826/House Bill No. 6908 or the security of tenure (SoT) measure that would have laid down stricter rules on labor contracting, after top state economic managers and major business groups warned of potential economic repercussions.
Belt and Road forum highlights opportunities
A FORUM on China’s Belt and Road Initiative (BRI) on Friday highlighted opportunities and downplayed perceived risks in the Philippines’ participation in the scheme.
BSP board member: ‘no rush’ to cut rates
THE BANGKO SENTRAL ng Pilipinas (BSP) can wait for more economic data before easing monetary policy again, a member of the policy-setting Monetary Board said.
Tobacco tax increased further
PRESIDENT Rodrigo R. Duterte has signed Republic Act No. 11346, which further increases the excise tax on tobacco products, bringing to three the tax reforms that have been enacted halfway into his six-year term.
Philippines breaks into ranks of ‘innovation achievers’ — report
THE PHILIPPINES has moved up 19 spots to 54th out of 129 economies from last year on an annual list that tracks their performance in terms of innovation, with the country breaking into the ranks of 17 others that “outperform” in this regard relative to gross domestic product.