Category Archives: Philippines News

Lower House Gives Commission on Human Rights $20-Budget for 2018

The House of Representatives provided the Commission on Human Rights a $20 budget for 2018. Chito Gascon, the commission’s chairman, has been outspoken against President Rodrigo Duterte’s human rights record related to the war on drugs. Senators from both sides, however, promised that the upper chamber would insist on the allotment of a full budget for the commission. If neither side would budge, the budget… Continue reading

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House Declares Impeachment Complaint Versus Supreme Court Chief Justice as Sufficient in Form and Substance

An impeachment complaint against Chief Justice Ma. Lourdes Sereno was found to be sufficient in form and substance, and would now go to a HoR committee to determine if there’s probable cause. A similar impeachment complaint will be tackled next week against Commission on Elections chairman Andres Bautista, who administration allies consider as allied to the opposition Liberal Party. Also facing possible impeachment is… Continue reading

Government to Streamline Approval Process for Chinese-Funded Infrastructure Projects

Finance officials told Chinese commerce representatives that the government has streamlined the approval process for big-ticket infrastructure projects to be funded by China in order to speed up their implementation. The first projects to be financed by China include the P10.9-billion New Centennial Water Source-Kaliwa Dam Project and the P2.7-billion Chico River Pump Irrigation Project. Finance Secretary Carlos Dominguez… Continue reading

July Unemployment Rate at 5.6%

Unemployment rate is up to 5.6 percent in July from 5.4 percent a year ago. The labor force population stood at 70.164 million, up from 68.429 million. Underemployment rate, meanwhile, declined to 16.3 percent in July from last year’s 17.3 percent. Labor and economic officials explain that the hike in the jobless rate resulted from the additional… Continue reading

Foreign Direct Investments Down 14% in First Half of 2017

Foreign direct investments (FDI) suffered a net decline of 14 percent year-on-year to $3.598 billion in the first half despite a 182.7-percent jump posted in June. Net equity other than reinvestment of earnings slid 90.3 percent to $141 million from $1.448 billion last year. The bulk of the end-June equity capital placements came from Hong Kong, Japan, Singapore, Taiwan and the United States. The government earlier projected FDI… Continue reading

Philippine Bond Offering Cut to $1 Billion for 2018

The Philippines plans to issue $1 billion in bonds offshore next year, which is only half of previous offerings, as the government relies more on loans and grants from China and Japan. Of the P888.1 billion in gross borrowings programmed for 2018, 80.2 percent or P711.8 billion will be sourced locally. Finance officials said they expect $1.8 billion from China and Japan to come in starting this year, part of the two countries’ commitments… Continue reading

Tradenet Rollout Targeted by End of 2017

The government will roll out by yearend TradeNet, an integrated online system to process import permits across over 60 agencies, as part of ongoing efforts to further improve the ease of doing business. Acknowledging the tedious process in securing an import permit that requires approvals from 66 government agencies on top of 10 economic zones, finance officials are now coordinating with the Department of Information and Communication Technology to make the Philippine Business Data Bank… Continue reading