ROTARY CLUB OF MANILA JOURNALISM AWARDS
2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion
BusinessMirror
www.businessmirror.com.ph
A broader look at today’s business Saturday, January 4, 2025 Vol. 20 No. 84
EJAP JOURNALISM AWARDS
BUSINESS NEWS SOURCE OF THE YEAR
(2017, 2018, 2019, 2020)
DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
SLOWER INFLATION MAY HELP PUT BOP IN SURPLUS n
P25.00 nationwide | 12 pages | 7 DAYS A WEEK
PLA2NA | DREAMSTIME.COM
DOH: DON’T SPREAD FAKE POSTS ON SUPPOSED NEW CHINA VIRUS
A
By Cai U. Ordinario
SLOWDOWN in inflation could spur global trade and keep the country’s Balance of Payments (BOP) in surplus this year, according to the Bangko Sentral ng Pilipinas (BSP). The BSP said the country’s overall BOP position is expected to remain in surplus until next year. The BOP projection of the Central Bank is $3.5 billion in 2024 and $2.1 billion this year. The BOP position of the Philippines for 2024 represents 0.8 percent of the country’s GDP and 0.4 percent of GDP in 2025. “Sustained net inflows from the financial account will continue
to buoy the overall BOP outlook this year. There is still scope for global trade to pick up in 2025 given an environment of moderating global inflation and improved business activity,” the BSP said. The BSP said, however, that risks to the outlook remain on the downside due to external headwinds such as the policies of President-elect Trump on tariffs that could affect the near-term
prospects of goods exports. The Central Bank also said downside risks also include slowerthan-expected growth in China; domestic constraints in the broader use of artificial intelligence (AI); and possible mobility risks due to weather-related events and emergence of highly infectious diseases. “US-related uncertainty, specifically linked to possible policy shifts in the US trade, investment, and migration policies, will remain a key downside risk to the 2025 external sector outlook,” the BSP said. Based on the BSP’s estimates, the current account is expected to contract $10.4 billion in 2024 and $12.1 billion in 2025. The BSP said the current account is expected to widen due to a low growth forecast for goods and services exports and high service imports in 2024.
The slowdown in service exports was largely due to the lower earnings of business-process outsourcing (BPO) firms and the slow return of Chinese tourists in the country. In terms of merchandise goods exports, such is expected to be slower due to the decline in exports of semiconductor products, the country’s top export. The BSP also said exports of copper metal, and bananas are also expected to slow down. “Expectations of softer global demand amid tight monetary conditions, post-pandemic fiscal consolidation, as well as larger trade barriers and increased uncertainty from President-elect Trump’s announced policies also continue to weigh down the near-term prospects for goods exports,” the BSP said.
Marcos Jr. ‘streamlines’ National Security Council; VP Sara is out By Samuel P. Medenilla
P
RESIDENT Ferdinand Marcos on Friday issued Executive Order (EO) No. 81, series of 2024, which “streamlined” the National Security Council (NSC) by removing Vice President Sara Duterte and past Presidents from its members. Under the new EO dated December 30, 2024, the chief executive reorganized the membership of the NSC stipulated under EO 34 series of 2001 by removing the Vice President from its list of members. EO 34 states the members of the NSC will include the President as chairperson; the Vice President; Senate President; Speaker of the House of Representatives; Senate President Pro-Tempore; Deputy Speakers for Luzon, Visayas and Mindanao; Majority Floor Leader of the Senate; Majority Floor Leader of the House; Minority Floor
IN this June 30, 2022, file photo, President Ferdinand Marcos Jr. and Vice President Sara Duterte raise hands during the inauguration ceremony at the National Museum in Manila. AP/AARON FAVILA
Leader of the Senate; Minority Floor Leader of the House; Chairperson of the Senate Committee on Foreign Relations; Chairperson of
the Senate Committee on National Defense and Security; Chairperson of the House Committee on Foreign Affairs; and Chairperson
of the House Committee on Public Order and Security. Also among the NSC members are the Executive Secretary; National Security Adviser; Secretary of Foreign Affairs; Secretary of Justice; Secretary of National Defense; Secretary of the Interior and Local Government; Secretary of Labor and Employment; Chief Presidential Legal Counsel; Presidential Spokesperson; Head of the Presidential Legislative Liaison Office; and past Presidents of the Philippines. Among these members, the President, Vice President, Senate President or his representative, Speaker of the House of Representatives or his representative, Executive Secretary, National Security Adviser, Secretary of Foreign Affairs, Secretary of Justice, Secretary of National Defense, and Secretary of the Interior and Local Government were
IN this January 9, 2024, file photo, Filipino devotees of the Black Nazarene returned in droves to Quiapo for the first full-scale Traslacion procession since the pandemic, with hundreds of thousands joining the religious event. Despite health concerns circulating on social media recently, the Department of Health (DOH) assured the public that there are no confirmed international health threats and that disease surveillance systems are in place. NONIE REYES
By Claudeth Mocon-Ciriaco
T
HE Department of Health (DOH) on Friday brushed aside the worries of the public following a flurry of posts circulating on social media about an alleged international health concern. The alarm had been fueled by concern over the expected convergence of hundreds of thousands—used to be millions, prepandemic—of devotees of the Black Nazarene, who join the kilometers-long procession during the feast of Quiapo, Manila. In a statement, the DOH said, reliable sources “currently do not support” such information, noting that there is also no confirmation from either the cited country or the World Health Organization (WHO). “DOH will not name or refer to anything unverified,” Health Assistant Secretary Albert Domingo said in a Viber message when sought by the media for clarification if the DOH is referring to cases of human metapneumovirus infections, influenza A, and Covid-19, allegedly overwhelming hospitals in China. However, the DOH assured the public that the country’s disease surveillance systems are in place and working. “The DOH is actively verifying all information, and will keep the Filipino public updated. The Philippines through the Department of Health is an active participant in the network of WHO member states that follow the International Health Regulations (IHR),” the DOH added. This established system, the DOH said, is what gives reliable updates about international health concerns. “Please do not share questionable websites or online sources. Let us not spread misinformation and confusion,” the DOH appealed to people. Dr. Irin Miranda, head of the DOH Health Emergency Management Bureau, has meanwhile assured Jesus Nazareno devotees that the agency would issue an advisory on any serious health concern if needed.
NOTICE OF FILING OF APPLICATION/S FOR ALIEN EMPLOYMENT PERMIT/S (AEP/S) Notice is hereby given that the following companies/Employers have filed with this Regional Office application/s for Alien Employment Permit/s: ESTABLISHMENT / ADDRESS No.
NAME OF FOREIGN NATIONAL , POSITION AND BRIEF DESCRIPTION
QUALIFICATION AND SALARY RANGE
BRIGHT LUME IT SOLUTIONS INC. Unit 202 Erisha Condominium, 1142 P Ocampo Street, Barangay 757, Santa Ana, City Of Manila
HONG, TINGTING Mandarin Speaking Helpdesk Support Specialist 1.
Brief Job Description: Provide first level contact and convey resolutions to customer issues, escalate unresolved queries to the next level of support and track, route, and redirect problems to correct resources.
Basic Qualification: Bachelor’s degree with experience in Business Management, Finance, Computer/Software, Marketing/Sales, or related field. Fluent in both written and verbal English and Chinese/ Mandarin languages. Salary Range: Php 30,000 - Php 59,999
See “dole ncr” on A11
Continued on A2
PESO EXCHANGE RATES n US 57.8830 n JAPAN 0.3674 n UK 71.6707 n HK 7.4431 n CHINA 7.9299 n SINGAPORE 42.2566 n AUSTRALIA 35.9048 n EU 59.4285 n KOREA 0.0394 n SAUDI ARABIA 15.4108 Source: BSP (January 3, 2025)