Economy / Banking

Duterte orders gov’t agencies to identify savings from 2020 budget

Robie de Guzman   •   May 13, 2021

MANILA, Philippines – President Rodrigo Duterte has directed all government agencies to identify savings from their respective allocations under the 2020 national budget that may be used to fund additional...

DOE, Japanese firm ink deal to update PH oil contingency plan

Robie de Guzman   •   May 12, 2021

MANILA, Philippines – The Department of Energy (DOE) and Japan Oil, Gas and Metals National Corporation (JOGMEC) on Tuesday signed a memorandum of agreement (MOA) for a study that would...

Philippine GDP declines by 4.2% in first quarter of 2021 – PSA

Robie de Guzman   •   May 11, 2021

MANILA, Philippines – The Philippine economy shrank by more than expected in the first quarter of the year, according to government data released on Tuesday, as prolonged community quarantines due...

Duterte raises volume of pork imports to 254,210 metric tons

Robie de Guzman   •   May 11, 2021

MANILA, Philippines – President Rodrigo Duterte has ordered an increase in the minimum access volume (MAV) for pork imports to help ensure affordable food and augment the shortage in local...

Duterte EO on lower pork import tariffs to be amended – Sotto

Robie de Guzman   •   May 5, 2021

MANILA, Philippines – President Rodrigo Duterte’s order to allow more pork imports at lower tariffs for a temporary period will be amended after a compromise on the policy was reached,...

P60-B released to cash transfer beneficiaries as of December 2020 — Landbank

Robie de Guzman   •   April 29, 2021

MANILA, Philippines — The Land Bank of the Philippines (LANDBANK) has already released P60.36 billion in unconditional cash transfers (UTC) as of December 2020 to beneficiary households of the Duterte...

DOF: Temporary reduction of pork import tariffs ‘immediate, practicable’ solution to check inflation

Robie de Guzman   •   April 28, 2021

MANILA, Philippines – President Rodrigo Duterte’s order to allow more pork imports at lower tariffs for a temporary period is an “immediate and practicable” response to avoid price spikes, Department...

PH Energy dep’t. vows to protect petroleum resources in West Philippine Sea

Robie de Guzman   •   April 22, 2021

MANILA, Philippines – The Department of Energy (DOE) vowed to take necessary steps to assert the Philippines’ rights over petroleum and other resources in the West Philippine Sea should any...

Senate to reconvene next week to address Duterte appeal on EO 128 – Sotto

Robie de Guzman   •   April 21, 2021

MANILA, Philippines – The Senate Committee of the Whole will reconvene next week in response to President Rodrigo Duterte’s call on lawmakers to give a chance to his order to...

Lacson: Senate has no choice but to give order on pork import tariffs a chance

Robie de Guzman   •   April 21, 2021

MANILA, Philippines – Senator Panfilo Lacson on Wednesday said that the Senate has no choice but to give a chance to President Rodrigo Duterte’s Executive Order 128, which mandates the...

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