‘CloseMarcos borders, cutto Omicron exposure risk’ wants ‘reintroduce’ Philippines THE AP INTERVIEW
By By Cai Cai U. U. Ordinario Ordinario
for for government government to to be be proactive proactive in in Marcos, Marcos, 65, 65, sat satthem. for for aa wide-ranging wide-ranging interinterimposing imposing them. The The Associated Associated Press Press want already drawing drawing distinctions distinctions both both subtle view view in in New New York York on on the the sidelines sidelineswhen of of the thethe UN UN usually usually want to to relax relax in inalready tropical tropical “It “It is is better better that that we wesubtle do do protective protective Previous Previous instances instances when the and andobvious obvious between himself himself and andhis hisvoluble voluble General Generalcountry Assembly’s Assembly’s annual annual leaders’ leaders’ to meetmeetLOSING LOSINGthe thecountry’s country’sborders borders countries countries like like the the Philippines. Philippines. This This between preventive preventive measures measures than than get get exexcountry had had the the opportunity opportunity to imimEW EW YORK—Looking YORK—Looking to to “reintro“reintropredecessor, predecessor, Rodrigo Duterte, who who alienated alienated ing. ing. Three Three months months into his his administration, administration, is is one one of of the the most most immediate immediate year’s year’s influx influx of of OFWs OFWs is is expected expected to to Rodrigo posed posedDuterte, again. again. We We have have aa lot lot to to lose,” lose,” pose pose travel travel into restrictions restrictions did did not not prepreduce duce the the Philippines” Philippines” to to the the world, world, many many international international partners partners with with his his vioviohe he seemed seemed energetic energetic and and enthusiastic—and enthusiastic—and courses courses of of action action the the governgovernbe be heavier heavier since since many many of of them them were were Oplas Oplas said. said. “We “We should should do do itit now now so so vent ventthe thespread spreadof ofCovid-19. Covid-19.That Thatwas was new new President Ferdinand Ferdinand Marcos Marcos Jr. Jr.for lent lent approach approach to to fighting fighting drug trafficking eager eager to tomainly project projectbecause his his vision vision for the the nation nation bebement ment must must take take to to prevent prevent the thePresident latlatunable unableto tocome come home home forthe the holidays holidays that that we we can candrug open opentrafficking just just before before ChristChristmainly because the thefor decision decision was was not not has has ambitious ambitious plans plans for for his his nation nation on on the the ininand and the the coarse coarse rhetoric rhetoric he he used used to to galvanize galvanize yond yond its its borders. borders. est estCovid-19 Covid-19variant, variant,Omicron, Omicron,from from in in December December 2020. 2020. mas. mas.If Ifititgets getscontained, contained,we wecan canopen open made made immediately, immediately, he he said. said. ternational ternational stage stage and and at at home—if, home—if, that that is, is, is supporters. On On Thursday, Thursday, he met met with with US US President President reaching reaching Philippine Philippine shores, shores, accordaccord“My “Myrecommendation recommendation issupporters. to toprotect protect itit again.” again.” “Kung “Kung he papatay papatay patay patay [If [If we’re we’re the the twin twin specters specters of of pandemic pandemic and and climate climate Asked Asked if if Duterte Duterte went went too too far far with with his his Joe Joe Biden Biden in in a a bid bid to to strengthen strengthen the the somesomeing ing to to local local economists. economists. the theborders. borders.Do Donot notallow allowpeople peoplewith with Ateneo Ateneo Center Center for for Economic Economic ReReslow] slow] and and we we get get caught caught flat-footflat-footchange change be beovercome overcomeaaor or at atleast least managed. lethal lethalwith drug drug crackdown, crackdown, Marcos Marcos redirected redirected times times complicated complicated ties that that have have ebbed ebbed and TThe he new new var variant iant is is acan acan threat, threat, history history of ofmanaged. travel travel to to countries countries with search search and and Development Development (ACERD) (ACERD) ed, ed, [that’s [that’s ties risky] risky] We We were were too tooand rereAnd if if he he can surmount the thecases legacies legacies of of Oplas the the criticism criticism toward those thoseDirector who who carried carried out flowed flowed active between between the the two two nations nations since since the the eessppeecciiaallllyy w wit ithh ttAnd he he hol hol id idcan ay ayss surmount positive positive cases to to enter,” enter,” Oplas said. said. toward Associate Associate Director Ser Serout Percival Percival active instead instead of of proactive proactive before. before. two two people: people: his his predecessor, predecessor, and and his his father. the the plan. plan. Philippines Philippines spent spent four four decades decades as as an an AmeriAmericoming coming up up and and more more foreigners foreigners “We “We should should be befather. more more restrictive. restrictive. [We [We K. K. Peña-Reyes Peña-Reyes said said closing closing the the We We should should learn learn from from that,” that,” PeñaPeñaHe He also also wants wants to to strengthen strengthen ties ties with with “His “His people people went went too too far far sometimes,” sometimes,” can can colony colony in in the the early early 20th 20th century. century. being being aallowed llowed to to travel travel to to the the have have to to be] be] more more protective protective in in terms terms country’s country’s borders borders would would be be effeceffecReyes Reyessaid. said.“It’s “It’saadelicate delicatebalancing balancing both both the United States Statesand and China—a China—a delicate delicate Marcos Marcos told told The Thetive Associated Associated Press Press on on Friday. Friday. “There have been bits and and pieces pieces where where Philippines, Philippines, De De La La Sa Sathe llle le United UniverUniverof of our our measures.” measures.” tive but but should should still still adhere adhere to to the the “There act. act.have We We been need needbits to to push push testing testing and and balancing balancing act act for for the the Southeast Southeast Asian Asian nation nation “We “We have have seen seen many many cases cases where where policemen, policemen, they they were were not not perhaps perhaps ideal,” ideal,” Marcos Marcos said. said. sit sityy economist economist Mar Maria ia Ella Ella Oplas Oplas Oplas Oplas said said that that while while this this will will be be standards standards set set by by the the World World Health Health tracing tracing to to be be properly properly informed informed —and, —and, like like many many of of his hisaafellow fellow leaders leaders at at the theindustries, other otherthis operatives, operatives, some somewere werejust just shady shadycharchar“But “But in in of the theour end, end, that that overall overall trajectory trajectory has has told told BusinessMirror. BusinessMirror. setback setback to to some some industries, this Organization Organization (WHO). (WHO). of our decisions. decisions. Blanket/shotgun Blanket/shotgun United United Nations Nations this this week, week, called called on on the the councounacters acters that that we we didn’t didn’t quite quite know know where where they they been been to to strengthen strengthen and and strengthen strengthen and and The The holidays holidays usually usually bring bring in in is is aa fair fair measure measure considering considering that that What What is is needed, needed, Peña-Reyes Peña-Reyes told told approaches approaches could could have have dire dire conseconsePRESIDENT PRESIDENTFerdinand FerdinandMarcos MarcosJr. Jr.speaks speaksduring duringan aninterview interviewwith withThe TheAssociated AssociatedPress, Press,Friday, Friday,September September 23, 23,2022, 2022, in in tries tries that thathave have caused causedglobal global warming warming to toprevent help help placing came came from from andthis who whonewspaper, they they were were working working for. for.restricstrengthen strengthen our our relationship.” relationship.” Overseas Overseas Filipino Filipino Workers Workers (OFWs) (OFWs) this this could could help help prevent placing the the and this newspaper, is is for for travel travel restricquences quences on on the the economy.” economy.” Continued Continued on on A5 A5 A2 APPHOTO/JULIA PHOTO/JULIANIKHINSON NIKHINSON less less wealthy wealthy nations nations counteract counteract its itsanother effects. effects.strict But But now now we’ve we’ve gone gone after them.” New NewYork. York.AP who who are are eager eager to to spend spend Christmas Christmas country country in in another strict lockdown, lockdown, tions tionsafter to to be bethem.” put put in in place place swiftly swiftly and and See See “Omicron,” “Omicron,” A2 @caiordinario @caiordinario
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with with their their loved loved ones, ones, while while forfor-
which, which, she she said, said, the the economy economy can can no no
By By Ted Ted Anthony Anthony Marcos, Marcos, swept swept into intoafford. office office this this spring, spring, is is eigners eigners living living in in temperate temperate regions regions longer longer afford.
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BusinessMirror A broader look at today’s business
PHL UNDEREMPLOYMENT NATL GOVT BORROWINGS FITCH THINK TANK SEES WORSENS; 2.68M JOBLESS FOR 10 MOS DIP TO P2.75T RATES HITTING 5% IN ‘22 D T www.businessmirror.com.ph w w
By Cai U. Ordinario
Monday, November 2021 17 364 No.52 Friday, October 7,29,2022 Vol.Vol. 17 No. Tuesday, September 27, 2022 Vol. 17 No. 354
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By By Bernadette Bernadette D. D. Nicolas Nicolas By By Bianca Bianca Cuaresma Cuaresma @BNicolasBM @BNicolasBM
ESPITE the unemployment HE national HE Bangko rate slowing to 5.3 government’s Sentral ng percent in August, the gross Pilipinas borrowings as of National Economic and (BSP) is expected end-October shrank to continue raising Development Authority by almost 6 percent monetary policy (Neda) believes much year-on-year to rates this year, even needs to be done to boost as the country’s P2.75 trillion. employment generation Central Bank has nationwide. already let out Latest Latestdata data from from the theBureau Bureauof ofthe the @BcuaresmaBM @BcuaresmaBM
PHL raises Omicron risk $2B fromcuts ‘Karding’ spurs revival big damage, latest global of quarantine bonds but casualty rules inissue PHL
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count limited
HE Philippines tapped the
By By Samuel Samuel P. P. Medenilla Medenilla international debt market
@sam_medenilla @sam_medenilla and raised $2 billion from By Byoffering, Samuel Samuel P. P.according Medenilla Medenillato the its latest @sam_medenilla @sam_medenilla NTER NTER NATIONA NATIONA concerns concerns Bureau of the TreasuryLL(BTr). && said Rene Rene Acosta Acosta over over the the possible possible spread ofand the the The BTr the spread new 5-of @reneacostaBM @reneacostaBM more more tranches infectious infectious Omicron Omicron Co10.5-year were pricedCoat vid-19 vid-19 variant variant prompted the thebasis govgovUS Treasury plusprompted 120 and 185 RESIDENT RESIDENT Ferdinand Ferdinand R. R. ernment ernment to towith reimpose reimpose mandatory mandatory points (bps) a coupon of 5.17 Marcos Marcos Jr. Jr. on on Monday Monday ininTreasury Treasury showed showed that that the the governgovernfacility-based facility-based quarantine quarantine for for all all percent and 5.609 percent, respecspected spected from the the air airthe the masmasOn gross Thursday, the Philippine ment’s ment’s gross borrowings borrowings during during the the Statistics Auarriving arriving passengers passengers in intighter the the country. country. tively. This wasfrom 35 bps than sive sive devastation devastation caused caused by by SuperSuperthority (PSA) said country’s 10-month 10-month period period fell fellthe by by5.99 5.99 percent percentunemployment Acting pricing Presidential Presidential spokesperspokesperthe Acting initial guidance of the typhoon typhoon “Karding” (international rate P2.92 in August was higher from from P2.92 trillion trillion aa year year ago. ago.than the 5.2 percent son son Karlo Karlo“Karding” B. B.plus Nograles Nograles announced announced US Treasury 155(international and 220 bps name: name: Noru) Noru) across across Luzon, firing firing posted July but lower left than With With in only only two two months months left for forthe 8.1 percent on on Sunday Sunday that that the the Luzon, Inter-Agency Inter-Agency area, respectively. off off directives directives to to ensure ensure a a return return to to DOUBLE TIME Land Transportation posted year ago.figure this this year, year,athe the latest latest figureis isalready already Task Task Forcealso for forshowed the the Management Management The Force data the 25-year normalcy normalcy for for thousands thousands it it affected. affected. Office personnel are seen at the Plate However, in terms of absolute numbers, a total equivalent equivalent to to 89.6 89.6 percent percent of of its its of of Emerging Emerging tranche Infectious Infectious Diseases Sustainability wasDiseases priced at At At the the same same time, time, however, however, he he perwas was Making Facility at the LTO headquarters of 2.68 million Filipinosprogram. were jobless in August. P3.07-trillion P3.07-trillion borrowing borrowing program. (IATF) (IATF) suspended suspended the the implemenimplemen6.1 percent with a coupon of 5.95 pleased pleased by by reports reports of of minimal minimal cacain Quezon City. The LTO is implementing This was higher than the 2.6 million recorded Broken Broken down, down, gross gross domestic domestic borbortation tation of of its its Resolution Resolution No. No. 150150cent, 45 bps tighter than initial pricsualties, sualties, something something attributed attributed to extended work hours for personnel at in July 2022 lowerto the 3.88 million in rowings rowings from from but January January tothan October October AA (s.2021), (s.2021), of effectively effectively imposing imposing ing guidance 6.55 percent area.to the the timely timely preemptive preemptive evacuation evacuation the facility to address the backlog in the Augustat 2021. settled settled at P2.23 P2.23 trillion, trillion, down down by by stricter stricter protocols protocols for for all all inbound inbound by by local local government government units. units. issuance of license plates. NONOY LACZA See “PHL,” A2 5.08 5.08 percent percentSeefrom from P2.35 P2.35 trillion trillion travelers. travelers. “Underemployment,” A2 Over Over the the weekend, weekend, around around in in 2020. 2020. To To note, note, IATF IATF Resolution Resolution 150150In In its its assessment assessment of of local local ecoeco75,000 75,000 people people in in Luzon Luzon were were evacuevacuThe The bulk bulk of of the the amount amount was was AA had had allowed allowed fully fully vaccinated vaccinated PEOPLE PEOPLEwalk walkpast pastthe themural muralof ofGat GatAndres AndresBonifacio Bonifacioat atManila ManilaCity CityHall HallUnderpass. Underpass. nomic nomic dynamics, research firm firm ated, ated, and andtravelers power power and and communicacommunicasourced sourceddynamics, from from Fixed Fixedresearch Rate Rate Treasury Treasury non-visa non-visa travelers from from Green GreenList List The Thecountry countrywill willcelebrate celebratethe the158th 158thbirth birthanniversary anniversaryof ofFilipino Filipinorevolutionary revolutionary Fitch Fitch Solutions Solutions said said on on Monday Monday it it tion tion lines lines in in some some provinces provinces were were Bonds Bonds (P1.19 (P1.19 trillion), trillion), followed followed by by areas areas to to enter enter the the country country withwithROYDOMINGO DOMINGO hero heroGat GatAndres AndresBonifacio Bonifacioon onTuesday, Tuesday,November November30. 30. ROY now now expects expectsborrowings the the BSP BSP to to raise raise interdisrupted. disrupted. As As of of p.m. p.m. Monday, Monday, short-term short-term borrowings from frominterBangBangout out the the need need for for33 facility-based facility-based est est rates rates by by 75 75 more more basis basis points points however however affected affected customers customers of ofMaMako koSentral Sentralng ngPilipinas Pilipinasor orBSP BSP(P540 (P540 quarantine quarantine as as long long as as they they secure secure before before the the year year ends, ends, effectively effectively nila nila Electric Electric Company Company were were down down billion), billion),Retail RetailTreasury TreasuryBonds/PreBonds/Prenegative negative Reverse Reverse TranscriptionTranscriptionputting putting the thebenchmark benchmark at at55percent percent to to 32,816. 32,816. Chain myo myo Bonds Bonds (P463.3 (P463.3 billion), billion), Retail Retail Polymerase Polymerase Chain Reaction Reaction (RT(RTby by the the end end of ofCai 2022. 2022. The Thetest National National Grid Grid Corporation Onshore Onshore Dollar Dollar Bonds Bonds (P80.84 (P80.84 bilbilPCR) PCR) test within within 72 72 Corporation hours hours prior prior By U. Ordinario (CP), financed by a loan from This This isthe aamore more aggressive aggressive outlook outlook of of the the Philippines Philippines also NGCP NGCP rereto to their their departure. departure.also lion). lion). In Inis the same same period, period,there there was was @caiordinario the Asian Development Bank compared compared to to their their earlier earlier forecast forecast stored stored the the vital vital Concepcion-CaConcepcion-CaBy By Jasper Jasper Emmanuel Y. Arcalas Arcalas dating dating its its registry registry following following the the them. them. This This allows allows everyone everyone to to see see programs programs as as President President Duterte Duterte “Except “Except for for countries countries classified classified also also aa net net redemption of of Treasury Treasury & redemption Lorenz S. Marasigan (ADB), were Emmanuel awarded Y. to the of of aa4.5-percent 4.5-percent benchmark benchmark rate rateby by miling miling 69kV Line. Line. and @jearcalas enactment enactment of of the the Coconut Coconut FarmFarmwho whoare arelisted listedin inthe theregistry registryand andifif is is expected expected to to sign sign the the industry industry Bills Bills amounting amounting to to P43.94 P43.94 billion. billion. as as‘Red,’ ‘Red,’69kV the thetesting testing andquarantine quarantine @lorenzmarasigan joint venture of@jearcalas Hyundai Enthe theNet end end of of the theredemption year. year. ers ers and and Industry Industry Trust Trust Fund Fund law. law. farmer farmerdoesn’t doesn’tsee seehis hisname namethen thenhe he development development plan plan in in early early 2022. 2022. Net debt debt redemption means means protocols protocols for for all all inbound inbound internainternagineering & Construction Co., “Inflation “Inflation is is likely likely to remain remain THIS THIS isisthe the view—a view—a seemingly seemingly endless endless expanse expanseof ofinundated inundated towns townsand and farmlands—that farmlands—that greeted President Marcos Marcos as ashe heflew flewwith on onMonday Monday over overthe the typhoon-hit typhoon-hitRosales provinces provincesof of Bulacan, Bulacan, Nueva Ecija and Farm ORE ORE than than 33 million million Rosales Rosales explained explained that that greeted about about President shall shall coordinate coordinate with the the PCA PCA imimRosales said said the the Nueva PCA PCA Ecija will willand not not there there were were more more debts repaid comcomtional tionaldamage travelers travelersin inall allports portsof ofentry entry H E debts D e parepaid rto t me nt of Ltd. and Dong-Ah Geological elevated elevated relative relative to to the the BSP’s BSP’s tartarINITIAL INITIAL damage damage to to testing farms farms was was Tarlac, Tarlac, among amongthose those hard hard hit hitby by Supertyphoon Supertyphoon Karding500,000 at atthe theweekend. weekend. Despite Despitethe the devastation, devastation, Marcosnoted noted that thatpreparations preparations made madeby by government, government,stop especially especially timely timelypreemptive preemptive evacuation, evacuation, coconut coconut farmers farmers andKarding 500,000 coconut coconut farmers farmers and andMarcos mediately,” mediately,” he heexplained explained at atthe athe arecent recent stop updating updating its its list list of of coconut coconut pared paredto tothe the amount amount borrowed borrowed durdurshall shall comply comply with with the the testing and and Transportation (DOTr) Engineering Co. Ltd., and the and get get range range of of 2 2 percent percent to to 4 4 percent percent PHOTO PHOTOCOURTESY COURTESYOF OFMALACAÑANG MALACAÑANGPALACE PALACE placed placed at at P114 P114 million, million, a a number number mitigated mitigated Karding’s Karding’s impact. impact. Stories Stories at at left left and and in in Nation, Nation, page page A3. A3. workers are are now now regisregisworkers workers were were added added to to the the PCA’s PCA’s dialogue dialogue with with coconut coconut farmers. farmers. farmers farmersand andenjoined enjoinedthem themto toregreging ing the the period. period. quarantine quarantine protocols protocols for for ‘Yellow’ ‘Yellow’ signed on T hursday consortium workers of Lotte Engineerand andMeanwhile, we we expect expect the central central bank bank to to sure sure to toclimb climbgiven given the themassive massive devdevtered with with the the government’s government’s reg2018 2018list listthat thathad hadabout about2.5 2.5million million “On “On the the other other hand, hand, if if people people ister ister in in order order to to reap reap the the benefits benefits Meanwhile, gross gross foreign foreign borborlist listcountries,” countries,” Nograles Nograles said, said,citing citing four civ ilthe works contracts ingtered & Construction Co. Ltd., regtighten tighten monetary monetary policy policy further further to to astation astation on on farms farms that that were were ready ready istry, istry, which which serves asİnşaat the the basis basis coconut coconutfarmers farmersand andfarm farmworkers. workers. would would see see names names on on the the list list and and of of the the decades-long decades-long idled idled coconut coconut rowings rowings in in$1.87 the the same same period also the the provision provision of of IATF IATF Resolution Resolution worth billionperiod for thealso conGülermak Ağır serves Sanayias anchor anchor inflation inflation expectations,” expectations,” for for harvest. Story on on page page A3. A3. for the the number number ofEEI people people to be be The The PCA’s PCA’s next next step step is is to to conconthey they think think they they are are not not coconut coconut levy levyfund. fund.“We “Wewill willnot notstop stopat at3.1 3.1 contracted contracted by by 9.7 9.7 percent to to P518.7 P518.7 No. No.harvest. 151-A. 151-A. Story struction of percent the North-South ve for Taahhüt A.Ş. andof Corp.to Fitch Fitch Solutions Solutions said. said. “Karding,” “Karding,” which which packed packed winds winds covered covered by S-05, the the utilization utilization of of the the NEWPORT-PAL duct duct an an exclusion-inclusion exclusion-inclusion proprofarmers farmersofor or their their details details are incorincormillion. million. We We hope hope that that more more indiindibillion billion from fromlast lastyear’s year’s P574.4 P574.4 billion. billion.a He He noted noted Hong Hong Kong, Kong, which which has has Commuter Railway (NSCR), CP S-04, by CP and CP SO-6 PARTNERSHIP Almost 5 million members PAL Mabuhay Milesare now get the “The “The Philippine Philippine peso peso has has also also of of 120 120 miles miles per per hour hour at at its its peak, peak, P75-billion P75-billion coconut coconut levy levy fund. fund. cedure cedure by by making making the the updated updated rect, rect, they they can can report report it it to to the the PCA PCA viduals viduals will will register register in in our our coconut coconut confirmed confirmed a a case case of of the the Omicron Omicron This This was was raised raised through through global global project that the agency’s chief were awarded to the Hyundaichance to convert their Miles to rewards points and vice versa as part of the flag carrier’s partnership come come under under significant pressure pressure By By Cai Cai U. U. Ordinario Ordinario the region region contracted contracted 0.8 0.8Rewards percent, percent, to close once oncemembers more. more. Ukraine that impacted impacted countries countries left left communities communities in inunder Luzon Luzon inuninunPhilippine Philippine Coconut Coconut Authority Authority farmers’ farmers’ registry registry public, public, providprovidfor forclose immediate immediate action,” action,” he added. added. farmers farmersthat registry,” registry,” he he said. said. variant, variant, will willalso alsofall fall under the the YelYelbonds bonds (P146.17 (P146.17 billion), billion), program program said willsignificant “ring back the counDong-Ah joint venture, while CP withthe Newport World Resorts’ Epic Program.to Mabuhay Miles now he enjoy access to Ukraine as as a a result result of of tightening tightening credit credit concon@caiordinario @caiordinario the the sharpest sharpest decline decline in in regional regional Asakawa Asakawa said said the the Russian Russian in in the the region region to to varying varying degrees. degrees. dated, dated, prompting prompting the the government government (PCA) (PCA) Deputy Administrator Administrator Roel exciting ing ing deals everyone everyone the the opportunity opportunity to to roster of international The The PCA PCA hotel official official noted noted that that The The updating updating of of the the coconut coconut loans loans (P139.98 (P139.98 billion), euro-deeuro-delow low list list countries. countries. try’s railwaybillion), system to its forS-07 wasDeputy awarded to the Lotte- Roel and benefits from an impressive brands, entertainment ditions ditions globally. With With the the billion), US US Fed Fed GDP GDP growth growth in in 60 60 years. years. In 2021, 2021, invasion of of Ukraine Ukraine is one one of of The The direct direct impact impact of of the the war war to to deploy deploy rescue rescue and and relief operaoperaM. M.Rosales Rosalessaid saidconsortium. about about3.11 3.11million million venues, check check the theoutlets, veracity veracity of ofcomplex, the theIn list, list, RoRothe theretail completion completion of of Newport the theis initial initial list farmers farmers registry registry is is mandated mandated by by nominated nominated bonds bonds (P121.97 (P121.97 billion), The The suspension suspension of of relief the the rules rules for for merglobally. glory and accelerate the Gülermak-EEI dining casino and lifestyle invasion and partners from Worldlist likely likely to to hike hike by by a a further further 75 75 bps bps HE HE weakening weakening Chinese Chinese this this rebounded rebounded to to a a 6.9-percent 6.9-percent the the main main reasons reasons for for commodicommodiis is through through trade trade as as well well as as remitremittions. tions. coconut coconut farmers farmers and and farm farm workwork- Resorts. sales sales added. added. of ofcoconut coconut farmers registry registry would Republic Act Act (RA) (RA) 11524 11524 or or the the aa project project loan loan (P86.41 (P86.41 billion), billion), and and “Green “Green List” List” countries countries will will be be in in country’s economic rebound.” Photo shows Alliance Global Group CEO and Newport Worldfarmers Resorts chair Kevin L.would Tan (Left) Republic before before end-2022, end-2022, this this will will likely likely economy, economy, aa lethal lethal CovCovgrowth and and this thisCOO year year ititis isexpected expected ties to to see see high high prices, prices, while while the the tances tances coming coming from from Russia. Russia. In In President President Marcos Marcos flew flew over the “North-South,” A2 with ers ersSee have have been been registered registered with the the andgrowth “The list listwill will be be posted posted in inat public public be be just just in in time time for for the the expected expected Coconut Coconut Industry Industry Trust Trust Fund FundAct. Act. yen-denominated yen-denominated samurai samurai bonds bonds effect effect from from November November 28, 28,over 2021 2021the to to The four contract packages PAL“The President and Stanley Ng the launch ofties Newport World Resorts's all-new rewards prompt prompt the BSP BSP to to hike hike in in tandem tandem id-19 id-19 variant, variant, the the war warupin in program. to to post post aa growth growth of of 4.3 4.3 percent. tightening tightening of of monetary monetary policy policy terms terms of of trade, trade, Asakawa Asakawa said said imtyphoon-hit typhoon-hit provinces provinces of Bulacan, Bulacan, See See “3-M “3-M farmers,” farmers,” A2 A2 imgovernment government since since it it started started upspaces spaces where where people people can canpercent. easily easily see see rollout rollout of of coconut coconut levy-funded levy-funded (P24.19 (P24.19the billion). billion). December December 15, 15, 2021. 2021. of CONTRIBUTED PHOTO to tosafeguard safeguard external external stability,” stability,” the the Ukraine, Ukraine, and and the the tightening tightening of of “The “The pace pace of of recovery recovery in in the the in in advanced advanced economies economies is is causcausporters porters of of food food and and energy energy will will be be Nueva Nueva Ecija, Ecija, and and Tarlac, Tarlac, and saw saw See See “Borrowings,” “Borrowings,” A2 A2 Continued Continued on on A2 A2 and think think tank tank added. added. monetary monetary policy policy in in rich rich nations nations various various economies economies remains remains very, very, ing ing “instability “instability in in the the financial financial significantly significantlyaffected affectedand andcausing causing inundated inundated towns towns and and farmlands. farmlands. Just Just last last week, week, the the Monetary Monetary n US 58.6240 are arethe the four biggest biggest risks risks to the rerevery uneven uneven among the econoeconomarkets” markets” in inn the theaustralia region. region. their their import import bills to to 0.0414 balloon. balloon. He said saidSource: affected affected areas, areas, parn four japan 0.4054 nto UKthe 66.3858 nvery HK 7.4683 namong CHINA the 8.2326 n singapore 41.1685 38.0411 n EU 57.9557 n bills KOREA n SAUDI arabiaHe 15.5915 BSP (October 6, 2022)par50.4600economy, n JAPAN 0.4374 to n UK 67.2329 n So HKwe nbear CHINA 7.9013 n SINGAPORE n AUSTRALIA 36.2807 n EU 56.5758 SAUDI 13.4531 Source: Source: BSP BSPin (November (November 26, 26,Island 2021) 2021) of Board Board decided decided to to raise raise its its interest interest n US gion’s gion’s economy, according according to the the mies. mies. So we6.4722 have have to to bear in in mind, mind, However, However,of of36.8968 these theserisks, risks, AsakaAsakaThe The inflation inflation pressure pressuren that that this this ARABIAticularly ticularly those those in Polillo Polillo Island of rates rates by by 50 50 basis basis points. points. This This is is the the Asian Asian Development Development Bank Bank (ADB). (ADB). [there [thereare] are]four fourpossible possibledownside downside wa wasaid saidthe theRussia-Ukraine Russia-Ukraineconflict conflict creates creates leads leads countries countries to to tighten tighten Quezon—placed Quezon—placed under under Tropical Tropical third third consecutive consecutive month month that that the the In Inaacurtain curtainraiser raiserfor forthe theADB ADB risks risks to to the the economic economic outlook outlook of of poses poses the the most most significant significant risk risk to to monetary monetarypolicy. policy.The TheADB ADBrecently recently Cyclone Cyclone Wind Wind Signal Signal No. No. 55 last last BSP BSP hiked hiked its its benchmark benchmark rates: rates: in in Annual AnnualMeeting Meetingon onMonday, Monday,ADB ADB this this region,” region,” Asakawa Asakawa said. said. the the region. region. Still, Still, Asakawa Asakawa said said the the said saidthe theBangko BangkoSentral Sentralng ngPilipinas Pilipinas Sunday—will Sunday—willget getimmediate immediaterelief relief an an off-cycle off-cycle hike hike in in July July of of 75 75 basis basis President President Masatsugu Masatsugu Asakawa Asakawa The The slowdow slowdownn of of China’s China’s impact impact of of remittances remittances will will be be limlim(BSP) (BSP) is is now now the the most most aggressive aggressive from from the the government. government. points points and and another another in in August August of of 50 50 “Well, “Well, we we are—presently are—presently what what said said these these four four factors factors are are the the economy economy is is being being driven driven by by what what ited itedin inthe theregion regionexcept exceptfor forCentral Central in in terms terms of of raising raising interest interest rates rates to to basis basis points. points. we we are are organizing organizing is is the the airlift airlift for for dark dark clouds clouds hanging hanging over over the the Asakawa Asakawa said said was was aa “very “very strinstrinAsia, Asia,Caucasus Caucasusand andMongolia Mongoliawhich which cool coolinflation. inflation.(https://business(https://businessThe TheBSP BSPalso alsosaid saidits itsaverage averageinflainflafood food materials, materials, food food packs, packs, water water sustained sustained recovery recovery of of the the region region gent gent zero-Covid zero-Covid policy” policy” while while have haveclose closetrade tradeand andeconomic economicties ties mirror.com.ph/2022/09/15/ mirror.com.ph/2022/09/15/ tion tion forecast forecast is is now now closer closer to to 66 perperinto intoPolillo Polillobecause becausethey theysaid saidit itwas was from from the the economic economic downturn downturn there there remains remains aa possibility possibility that that with with the the Russian Russian Federation. Federation. bsp-most-aggressive-in-hikingbsp-most-aggressive-in-hikingcent cent for for this this year year from from last last month’s month’s the the first first area area to to be be hit hit [by [by SuperSupercaused caused by by the the pandemic. pandemic. aa more more lethal lethal variant variant of of Covid-19 Covid-19 There There were were both both direct direct and and policy-rates/) policy-rates/) 5.4 5.4 percent percent average average to to 5.6 5.6 percent. percent. typhoon typhoon Karding],” Karding],” Marcos Marcos said. said. Asakawa Asakawa noted noted that that in in 2020, 2020, could couldspread spreadand andcause causeeconomies economies indirect indirect effects effects of of the the war war in in See See “ADB,” “ADB,” A2 A2
aggressive hikes in the last three months —as the economy battles rising prices and currency depreciation, an international think tank said.
NORTH-SOUTH COMMUTER RAIL PROJECT DEALS SIGNED
OVER 3-M FARMERS LISTED FOR P75-B COCO LEVY FUND
T
M
ADB TAGS 4 BIGGEST RISKS TO ASIAN ECONOMY
T
PESO exchange rates
PESO EXCHANGE RATES
See See “Fitch,” “Fitch,” A2 A2
See See “Karding,” “Karding,” A2 A2
PESO EXCHANGE RATES nn US 58.4060 58.4060 n n JAPAN 0.4104 0.4104 n n UK 65.7418 65.7418 n n HK 7.4413 7.4413 n n CHINA 8.2506 8.2506 n n SINGAPORE 41. 41.11861 861 n n AUSTRALIA 38.7933 38.7933 n n EU 57.4657 57.4657 n n KOREA KOREA 0.0415 0.0415 n n SAUDI ARABIA 15.5273 15.5273 Source: Source:BSP BSP(September (September23, 23,2022) 2022)