FACTORY OUTPUT extended its losing streak to a fifth month in July, with an 11.9% year-on-year decline in the Volume of Production Index (VoPI), the Philippine Statistics Authority (PSA) said Friday. The PSA was reporting preliminary VoPI results, which form part of the PSA’s Monthly Integrated Survey of Selected Industries. The decline was less than […]
Japanese Ambassador to the Philippines Koji Haneda expressed the hope that the Japan-backed Metro Manila subway will help the Philippines achieve a “V-shaped” economic recovery, with the project expected to generate thousands of jobs. “I hope it can help lead the Philippines to a possible V-shaped economic recovery, while it lays down the foundation for […]
THE WATER allocation for Metro Manila has been reduced to 46 cubic meters per second (cms) from 48 cms to address the declining water levels in Angat Dam, the National Water Resources Board (NWRB) said. In a mobile phone message, NWRB Executive Director Sevillo D. David Jr. said Angat Dam experienced low rainfall at its […]
Foreign borrowing to fund pandemic-containment measures hit $8.83 billion in August, the Department of Finance said Friday. “As of the end of August, the Department of Finance 9DoF) has secured a total of $8.83 billion in financing for our COVID-19 response efforts from our development partners and commercial partners,” Finance Secretary Carlos G. Dominguez III […]
The Anti-Red Tape Authority (ARTA) said Friday that its guidelines on reduced requirements for issuing government permits, which it pitched as a means of dealing with the “new normal,” were endorsed by the body enforcing pandemic regulations, the Inter-Agency Task Force on Emerging Infectious Diseases (IATF-EID). “The IATF-EID endorsed the guidelines and is set to […]
By Marissa Mae M. Ramos, Researcher and Beatrice M. Laforga, Reporter Inflation eased to a three-month low in August amid improved supply as the economy reopened from another two-week strict lockdown meant to contain a coronavirus pandemic, according to the local statistics agency. Consumer prices rose by 2.4% last month, bringing the eight-month average to […]
Government financial institutions have been ordered to beef up their security systems after United Coconut Planters Bank (UCPB) lost at least P167 million from a cyber-heist. “UCPB is reviewing and strengthening its IT and security controls,” Finance Secretary Carlos G. Dominguez III told reporters in a Viber message on Friday. “I have instructed our government […]
The balance of payments (BoP) posted an $8-million surplus in July, the smallest in more than seven years, amid a surge of inflows from foreign borrowings of the National Government to fund its coronavirus pandemic response, according to the Philippine central bank. The July figure was lower than the $248-million surplus in July last year […]
The Department of Health (DoH) reported 3,714 coronavirus infections on Friday, bringing the total to 232,072. The death toll rose by 49 to 3,737 while recoveries increased by 1,088 to 160,549, it said in a bulletin. There were 67,786 active cases, 90.7% of which were mild, 6.9% did not show symptoms, 0.9% were severe and […]
Dengue cases in the country dropped by 76% to 59,675 as of mid-August from a year earlier, according to the Department of Health (DoH). Deaths due to dengue also fell by 78% to 231 during the past seven months, Norielyn Evangelista, program manager of the National Aedes-borne Viral Diseases Prevention and Control Program, told an […]