Marcos Jr. says no to suspension of excise tax on fuel
By Photo from Wiki President-elect Ferdinand "Bongbong" Marcos Jr. on Monday claimed reducing the excise taxes on fuel would not solve the country's skyrocketing oil prices. In a media briefing, Marcos Jr. said he preferred providing assistance to people whose...
April 2022 unemployment rate is lowest since Covid-19 pandemic
By The jobless rate in the Philippines in April 2022 fell to 5.7 percent, the lowest since the Covid-19 pandemic broke out, according to the Philippine Statistics Authority (PSA).The PSA said 2.76 million Filipinos aged 15 and above were unemployed, which was lower by...
BSP chief Diokno is Marcos Jr. admin’s finance chief
By Benjamin Diokno, governor of the Bangko Sentral ng Pilipinas (BSP), will head the Department of Finance under the administration of president-elect Ferdinand "Bongbong" Marcos Jr.“It is an honor to serve the Filipino people in my current and any future capacity. I...
Inflation accelerates to 3-year-high in April at 4.9%
By The Philippine Statistics Authority (PSA) reported an inflation rate of 4.9 percent for April 2022, a three-year high, as the country saw numerous spikes in food and energy prices amid the Russia-Ukraine war.The PSA said the April inflation rate was the highest...
Unemployment in PH slightly dips in Q4 of 2021—SWS
By Eleven million Filipinos were jobless in the last quarter of 2021, results of a Social Weather Stations (SWS) poll released on Thursday showed.The survey, conducted from Dec. 12-16, 2021, found adult joblessness at 24.7 percent of the adult labor force.The number...
Inflation accelerates to 4% in March amid oil price hikes
By The Philippine Statistics Authority (PSA) reported a higher inflation rate of 4 percent for March 2022, from February 2022's 3 percent, as the country saw oil prices skyrocket due the Russian invasion of Ukraine.The latest reading brought year-to-date (January to...
Former BSP exec warns of possible PH bankruptcy
A former high ranking executive of the Bangko Sentral ng Pilipinas (BSP) warns that whoever wins the presidency this coming election will inherit a debt of P12 trillion.
PDIC files estafa case vs former chair, officers of Philippine Farmers Bank
State deposit insurer Philippine Deposit Insurance Corporation (PDIC) said it filed an estafa case against high ranking officers of the closed Philippine Farmers Bank, Inc. (PFBI) of Cagayan de Oro City.
PSA: PH’s January 2022 unemployment rate slightly drops
By FILE PHOTO The Philippine Statistics Authority (PSA) on Friday reported that 2.93 million or 6.4 percent of Filipinos were unemployed as of January 2022.The December 2021 jobless rate was 6.6 percent. The decrease was equivalent to about 340,000 Filipinos.The...
Duterte’s decision on proposed 4-day workweek out Monday—Palace
By Malacañang on Thursday said President Rodrigo Duterte would decide on the proposed implementation of a four-day workweek on Monday.The National Economic and Development Authority (NEDA) recommended reducing the workweek to just four days amid rising fuel...
Duterte cites gov’t income in defending non-suspension of e-sabong licenses
By President Rodrigo Duterte on Wednesday came to the defense of e-sabong operations, saying they generate billions of income for a government short in money.In his "Talk to the People" address, Duterte said he made the same justification for Philippine Offshore...
Duterte keeps fuel excise tax; gov’t to give P200 monthly subsidy to 12M Pinoys
By COMMONS PHOTO President Rodrigo Duterte has approved the Department of Finance's (DOF) recommendation to retain the excise tax on fuel amid skyrocketing oil prices in the country. In his "Talk to the People" address, the president chose to grant a P200 monthly cash...
PH’s GDP beats 2021 target, grows 5.6 percent
The Philippine economy grew 5.6 percent in 2021, the year the country started loosening Covid-19 restrictions and began rolling out vaccines.
Former Banco Filipino officials indicted by DOJ
In a statement, state deposit insurer Philippine Deposit Insurance Corporation (PDIC) said the Department of Justice Task force issued a resolution on March 2021 indicting Banco Filipino officials for violations of certain provisions of Republic Act No. 3591, as amended, or the PDIC Charter.
PH unemployment rate down to 6.5%; assistance readied for displaced workers
By The Philippine Statistics Authority (PSA) on Friday reported a 6.5 percent unemployment rate in November 2021, the third-lowest last year. The November unemployment rate was almost a percentage point lower than the 7.4 percent reported in October 2021. The jobless...
Nickel miners spent P698.5M on environment, social dev’t projects in 2020—report
Members of the Philippine Nickel Industry Association (PNIA) invested over P698.5 million on environment and social development projects in 2020, the association said in a report.