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Showing posts from April, 2019

Economists expect 3.3% inflation for 2019 – BSP

Photo from ECONOMISTS see inflation settling at 3.3 percent this year, the Bangko Sentral ng Pilipinas (BSP) said, higher than its 3.0-percent full-year forecast but still within the 2.0-4.0 percent target. In the First Quarter Inflation Report released on Friday, the central bank said the latest figure was a decrease from “4.1 percent in the December 2018 survey.” Analysts expect downward pressures to dominate the risks to the inflation outlook, according to the BSP. “Possible downside risks to inflation include the implementation of the rice tariffication law, which is expected to improve domestic rice supply and stabilize prices, and lower global crude oil prices,” it said. Signed in February, the rice tariffication law lifts import limits on rice, which according to the Bangko Sentral, was expected to reduce inflation by 0.6 percentage points this year. Meanwhile, the central bank said the latest futures prices indicated

GDP seen doubling by 2026 as Philippines ‘set for dynamic growth’

In an economic research report released yesterday, market intelligence firm IHS Markit said the continuous growth of above six percent in the past seven years is likely to continue over the short term, although at a slightly slower pace of around six percent annually over 2019 and 2020. MANILA, Philippines — The Philippine economy is still expected to experience sustained and rapid growth in the long term, with gross domestic product (GDP) seen doubling between now and 2026, enabling the country to attain upper middle income status by 2022. In an economic research report released yesterday, market intelligence firm IHS Markit said the continuous growth of above six percent in the past seven years is likely to continue over the short term, although at a slightly slower pace of around six percent annually over 2019 and 2020.  “Strong GDP growth is projected to continue over the medium term, with the total size of the Philippines economy expected to double between 2018 a

PH inks P633 billion in trade, investment deals with China

President Rodrigo Duterte (L) shakes hands with Chinese President Xi Jinping before their meeting at the Great Hall of the People in Beijing on April 25, 2019. Kenzaburo Fukuhara, Pool/AFP MANILA  (UPDATE)  - The Philippines signed Friday 19 business deals with Chinese firms amounting to P633 billion ($12.16 billion) on the sidelines of the second Belt and Road Forum in Chinese capital Beijing. According to the Department of Trade and Industry, Manila's business delegation signed a contract agreement, 2 cooperation deals, 2 purchase framework deals, and 13 memoranda of agreement or understanding. Majority of the deals cover energy, infrastructure, food, telecommunications, tourism, and economic zone development. The agreements are expected to generate over 21,000 jobs, the DTI said. President Rodrigo Duterte along with several of his Cabinet members witnessed the signing of the business agreements. View image on Twitter Pia Gutierrez @p
Abu Sayyaf sub-leader Hapidz Abdurahman was killed in a clash Tuesday (April 23) against the Marine Battalion Landing Team-3 (MBLT-3) troops in the island town of Pata, Sulu.  (Photo courtesy of MBLT-3) ZAMBOANGA CITY  -- An Abu Sayyaf Group (ASG) subleader was killed in a clash with Philippine Marine troops as the focused military operations continue against the ASG bandits in Sulu, officials said Wednesday. Col. Gerry Besana, Western Mindanao Command (Westmincom) information officer, identified the slain ASG subleader as Hapidz Abdurahman, who is based in the island town of Pata, Sulu. Besana said Abdurahman was killed in a 10-minute firefight Tuesday in Barangay Tambulian, Pata municipality. He said the troops from the Marine Battalion Landing Team-3 (MBLT-3) were on a focused military operation when they clashed with the group of Abduhraman, whose remains were recovered by the troops.  Abdurahman's remains were buried according to Muslim rit

Hunger rate down for 2nd consecutive quarter: SWS survey

Photo from PNA MANILA  -- The Philippines registered a decrease in its hunger rate for the second consecutive quarter, a recent survey by the Social Weather Stations (SWS) showed. The SWS first quarter 2019 hunger rate survey showed that only 9.5 percent or an estimated 2.3 million families experienced 'involuntary hunger' at least once in the past three months. The latest figures showed a decline from the 10.5 percent or an estimated 2.4 million families, who experienced involuntary hunger in the fourth quarter 2018 survey in December and the 13.3 percent or about 3.1 million families in the September 2018 survey. Hunger significantly dropped by 6.6 points in Metro Manila from 18.3 percent in December 2018 to 11.7 percent in March 2019. The hunger rate also declined by 2.2 percent in Mindanao, from 8.3 percent in December 2018 to 6.1 percent in March 2019. Balance Luzon and Visayas tallied a little higher hunger rates with 0.6 percent and 0.8 percent

Magnitude 4.0 quake jolts Surigao Del Norte

Photo from Manila Bulletin A magnitude 4.0 earthquake struck Surigao Del Norte at 7:31 am Sunday, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. The temblor was an aftershock of the magnitude 5.5 earthquake that struck the province on Friday. The earthquake was tectonic in origin and its epicenter traced 72 kilometers southeast of General Luna, Surigao Del Norte. It had a depth of 6 km. No aftershocks or damages are expected from the tremor. Source and Original Article from: >>> Manila Bulletin

Globe to launch 5G in June with 100 Mbps speed

Photo from Manila Shaker Globe has announced that they will launch the 5G first in the Philippines this coming June in 2019. With a promise of 100 Mbps speed,  Globe will first roll out the 5G on select areas  particularly for home broadband service only while mobile 5G for smartphones to follow. Although the marketed speed is below the average speed of most 5G networks globally, the latency and reliability will be greatly improved over 3G and 4G LTE. According to its CEO, Mr. Ernest L. Cu said that enterprises will also benefit on 5G availability as IoT or Internet of Things will be supported. This will make the management of their businesses smarter and safer. On the other hand, Globe is targetting by the end of this year to launch the 5G Mobile Network for more consumers. SMART-PLDT is also expected to roll out their 5G network by this year but with no definite launch date. Mislatel Consortium was selected as the 3rd major telco in the Philippines will s


“There is a plot to discredit the President and destabilize his government,” a highly placed source in the Office of the President said. “There’s an obvious pattern of close coordination among some media organizations for the timely publication of anti-Duterte stories,” the source told this writer. The playbook is all too familiar: Utilize the media, plant fake news, distribute them to the friendly media outlets, whet the people’s appetite, arouse their anger, manipulate public emotion, touch base with the Leftist organization, enlist the support of the police and the military, then go for the “kill.” This ‘matrix’ provided to The Manila Times over the weekend by a source shows what appears to be a coordinated media campaign to discredit the President. That’s how coups are staged. Except that in this instance, there is no discernible support from the police and the military, much less the people. For a coup to succeed, it is critical to have the support of the
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