Manufacturing grows 10.6% in Jan
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HE country’s manufactur ing out put posted growth of 10.6 percent in January 2023, the highest in 10 months, according to the Philippine Statistics Authority (PSA). On Thursday, PSA said data from the Production Index and Net Sales Index showed the growth of Volume of Production Index (VoPI) in January was the highest since March 2022 when it grew 326.1 percent. Based on the data, the January 2023 VoPI slowed compared to the 10.9 percent posted in January last year,
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but was faster than the 4.2 percent posted in December 2022. “[The VoPI is] back to double-digit growth in the manufacturing volume product ion l a rgely brought about by the fact that the economy further reopened towards greater normalcy, with no large lockdowns so far in 2022 and no lockdowns going forward as a priority of the administration,” Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort. The data showed three industry divisions that con-
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tributed to the growth of VoPI in January 2023, led by food manufacturing which grew 17.3 percent. The two other sectors were the manufacture of transportation equipment grew 24.3 percent and electrical equipment, 53.6 percent. Based on responding establishments, the PSA said the average capacity utilization rate for the manufacturing sector in January 2023 was reported at 72.6 percent from 71.5 percent in the previous month.
Rotary Club of Manila and the Carlos P. Romulo Foundation for Peace and Development bestow the Rotary Club of Manila Carlos P. Romulo Most Outstanding Ambassador Award on Hon. Enrique A. Manalo, Secretary of the Department of Foreign Affairs. In picture are Jackie Rodriguez, Chairman of the Committee for the Most Outstanding Ambassador Award, DFA Secretary Enrique Manalo, Liana Romulo of the Carlos P. Romulo Foundation for Peace and Development and Rotary Club of Manila President Herminio S. Esguerra. BERNARD TESTA
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Ranks of underemployed growing By Cai U. Ordinario
Pagcor fires third-party auditor, eyes criminal raps
@caiordinario
O
VER 700,000 Filipinos were added to the ranks of the visibly underemployed in January 2023 due to the slowdown of economic activities after the holidays, according to the results of the January Labor Force Survey released by the Philippine Statistics Authority (PSA). See “Ranks,” A2
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PILOT-IN-CHIEF In this handout photo provided by the Malacañang Presidential Communications Office, President Ferdinand Marcos Jr. rides an FA-50PH Philippine military plane during a flight capability demonstration at the Clark Air Base in Pampanga on Tuesday, March 7, 2023. MALACAÑANG PRESIDENTIAL COMMUNICATIONS OFFICE VIA AP
HE controversial third-party auditor of the Philippine Amusement and Gaming Corporation, exposed for fraud in a Senate hearing, has been terminated by the State gaming regulator, which also announced eyeing criminal and civil charges against the contractor. “After careful investigation and in accordance with Republic Act No. 9184, otherwise known as the Government Procurement Act, the Philippine Amusement and Gaming Corporation [Pagcor] has issued a Notice to Terminate the Consultancy Contract with Global ComRCI, the third-party auditor for licensed offshore gaming operations,” Pagcor said in a statement on Thursday. See “Pagcor,” A2
MARRIOTT, FIRST HOTEL CHAIN TO WIN AN ANVIL The Marriott Moments Campaign presented by Marriott Bonvoy—the hotel’s global loyalty program—led by the Marriott Philippines was awarded Silver at the 58th Anvil Awards’ Gabi ng Parangal under the category PR Tools – Special Event and Exhibit held at the Marriott Grand Ballroom last March 8, 2023. Receiving the prestigious award are: Multi-property Vice President, Marriott International-The Philippines Bruce Winton (fifth from left) and Marriott Hotel Manila, Sheraton Manila Hotel, and Courtyard by Marriott Iloilo Cluster Director of Marketing Communications Archie Nicasio (fourth from left); (L–R) Public Relations Society of the Philippines (PRSP) Board of Trustees Adviser Norman Agatep; Clark Marriott Marketing Communications Manager Jayvie Dizon; Cluster Marketing Communications Assistant Christelle Tolisora; Cluster Marketing Communications Manager Belle Cahulogan; Cluster Marketing Communications Senior Graphic Designer Jaron Nepomuceno; Cluster Marketing Communications Graphic Designer Diana Licop; The Westin Manila Marketing Communications Manager Meg Hernandez; PRSP Vice President-External Lady Ochel Espinosa. MARRIOTT HOTELS PHOTO
PESO exchange rates n US 55.3970 n japan 0.4033 n UK 65.6233 n HK 7.0572 n CHINA 7.9633 n singapore 40.9287 n australia 36.4845 n EU 58.4328 n KOREA 0.0421 n SAUDI arabia 14.7568 Source: BSP (March 9, 2023)