‘CloseMarcos borders, cutto Omicron exposure risk’ wants ‘reintroduce’ Philippines 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 and obvious obvious between between himself himself and and his his voluble voluble General General Assembly’s Assembly’s annual annual leaders’ leaders’ meetmeetLOSING LOSINGthe thecountry’s country’sborders borders countries countries like like the the Philippines. Philippines. This This preventive preventive measures measures than than get get exexcountry country had had the the opportunity opportunity to 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 manywere international international partners with his hisdo vioviohe he seemed seemed energetic energetic and and enthusiastic—and courses courses of of action action the the governgovernbe be heavier heavier since since many many of of them them were Oplas Oplaspartners said. said. “We “Wewith should should do itit now now so so vent vent the thespread spread of ofenthusiastic—and Covid-19. Covid-19.That Thatwas was By Cai U. Ordinario to address high inflation without economic policies would improve (BSP) earlier hiked its rates for bethe new new President President Ferdinand Ferdinand Marcos Marcos Jr. Jr. lent lent approach approach to to fighting fighting drug drug trafficking trafficking eager eager to to project project his his vision vision for the the nation nation bement ment must must take take to to prevent prevent the the latlatunable unableto tocome comehome homefor forthe theholidays holidays that that we we can can open open just just before before ChristChristmainly mainly because because the thefor decision decision was was not not @caiordinario raising interest rates is to increase the allocation of global capital third consecutive month, in an efhas 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. the supply of various goods. Even providing a path to reduce in-On fort to anchor the riseUS of consumer ternational ternational stage stage and and at at home—if, home—if, that that is, is, is supporters. On Thursday, Thursday, he met met with with 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 IKING interest ratesof ispandemic sharing news of future investflation, increase thehis value of a Biden prices andto inflation expectations. the the twin twin specters specters of pandemic and and climate climate Asked Asked if if Duterte Duterte went went too too far far with with his Joe Joe Biden in in a a bid bid 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-footnot change the only solution to or ments would help cool inflation. broader set of redirected assets and restart (Full story: ties https://businessmirror.com. change be beovercome overcome at at least least managed. lethal lethal drug drug crackdown, crackdown, Marcos Marcos 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, aaor history history of ofmanaged. travel travel to to countries countries with with search search and and Development Development (ACERD) (ACERD) ed, ed, [that’s [that’s risky] risky] We We were were too tooand rerecombatAnd the recent spike in For advanced economies, it the growth in median income,” ph/2022/09/23/bsp-raises-rates-for-3rdAnd if if he he can can surmount surmount the the legacies legacies of of the the criticism criticism toward toward those those who who carried carried out out flowed flowed between between the the two two nations nations since since the the eessppeecciiaallllyy w wit ithh tthe he hol holid iday ayss positive positive cases cases to to enter,” enter,” Oplas Oplas said. said. Associate Associate Director Director Ser Ser Percival Percival active active instead instead of of proactive proactive before. before. inflation which eroded much would also be helpful, Malpass Malpass said. month-now-4-25/) two twohas 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,” PeñaPeñaof the purchasing power of billions said, toties reduce and improve ef- went Median income, Malpass said, Inf lation in the Philippines He He also also wants wants to to strengthen strengthen ties with with “His “His people people went too too far far sometimes,” sometimes,” can can colony colony in in the the early early 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 Reyes said. said. “It’s “It’s20th a20th adelicate delicate balancing balancing around the world, according to the and ficiency delicate of spendingMarcos as well asThe has declined 4on percent after the“There slowed to 6.3 percent in August both both the United States States and China—a China—a delicate Marcos told told Thetive Associated Associated Press Press on Friday. Friday. have been bits and and pieces pieces where where Philippines, Philippines, De De La La Sa Sathe lle lle 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 World Bank.balancing extend this to poor “We and vulnerpandemic. Hepolicemen, noted that thisthey is were from 6.4 percent in July. said. (Full balancing act act for for the the Southeast Southeast Asian Asian nation nation “We have have seen seen many many cases cases where where policemen, they were not not perhaps perhaps ideal,” ideal,” Marcos Marcos 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 In a speech aheadlike of many the Interableleaders sectors of society. Heoperatives, added the first decline since story here: https://businessmirror.com. —and, —and, like many of of his hisaafellow fellow leaders at at the theindustries, other other operatives, some some were werejust just shady shadyrecorded charchar“But “But in in of the the end, end, that that overall overall trajectory trajectory has has told told BusinessMirror. BusinessMirror. setback setback to to some some industries, this this Organization Organization (WHO). (WHO). of our our decisions. decisions. Blanket/shotgun Blanket/shotgun WORLD » A6 national Monetary Fund (IMF)thaton reducing the maturity of thequite Washington-based lender ph/2022/09/06/inflation-rate-slowsUnited United Nations Nations this this week, week, called called on the the councounacters acters that that we we didn’t didn’t 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 conseconseWorld Bank (WBG) Annual current and future bond holdings started measuring median income down-to-6-3-in-august-psa/) PRESIDENT PRESIDENTFerdinand FerdinandMarcos MarcosJr. Jr.speaks speaksduring duringan aninterview interviewwith withThe TheAssociated AssociatedPress, Press,Friday, Friday,September September 23, 23,2022, 2022, in in Group tries tries that that have have caused causedglobal global warming warming to toprevent help help came came from from andthis who who 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 placing the the and this newspaper, newspaper, is is for for travel travel restricquences quences on on the the economy.” economy.” BRITAIN’S CENTRAL BANK INTERVENES Meetings, World Group Pres-counteract would put the brakes on in after 1990.them.” Continued Continued on on A5 A5 A2 APPHOTO/JULIA PHOTO/JULIANIKHINSON NIKHINSON less less Bank wealthy wealthy nations nations counteract its itsanother effects. effects. But Butinflation. now now we’ve we’ve gone gone New NewYork. York.AP who are are eager eager to to spend spend Christmas Christmas country country in in another strict strict lockdown, lockdown, tions tionsafter to to be bethem.” put put in in place place swiftly swiftly and and See See “Omicron,” “Omicron,” See “Rate,” A2A2 IN MARKET TO HALT ECONOMIC CRISIS who ident David Malpass said one way “These adjustments of macroBangko Sentral ng Pilipinas
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
Rate hikes not the only option vs inflation–WB chief @caiordinario @caiordinario
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.
C N H
BusinessMirror A broader look at today’s business
NATL GOVT BORROWINGS SC STRIKES 5% FITCH THINKDOWN TANK SEES FOR 10 MOS DIP TO P2.75T POGOHITTING FRANCHISE RATES 5% INTAX ‘22 www.businessmirror.com.ph w w
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@jrsanjuan1573
HEBangko national HE government’s HE Supreme Court has Sentral ng gross Pilipinas declared unconstitutional a borrowings as of (BSP) is expected provision end-October shrankin Republic Act No. to continue raising 11494 orpolicy Bayanihan 2 Law and by almost 6the percent monetary year-on-year rates this revenue year,to even regulations issued by several as theDepartment country’s P2.75 trillion. the of Finance (DOF) Central Bank has and the Bureau of Internal Revenue already let out Latest Latestdata data from from the theBureau Bureauof ofthe the aggressive hikes Treasury Treasury showed showed that that the thein governgovern(BIR) imposing a 5-percent franchise ment’s ment’s gross gross borrowings borrowings during during the the the last three months tax on gross bets 10-month 10-month period period fell fellby by5.99 5.99 percent percentfrom gaming —as thetrillion economy from from P2.92 P2.92 trillion aa year year ago. ago. operations of the With With only only two two months months left left for forPhilippine Offshore battles rising prices this thisyear, year,the thelatest latestfigure figureis isalready already and currency Gaming Operators (POGOs). equivalent equivalent to to 89.6 89.6 percent percent of of its its depreciation, anprogram. P3.07-trillion P3.07-trillionborrowing borrowing program. Broken Broken down, down, gross gross domestic domestic borborinternational think In a 42-page ruling penned by Providing Mechanism to Accelerrowings rowings from from January January to to October October Associate Justice Samuel Gaerlan ate the Recover and Bolster the tank said. settled settled at at P2.23 P2.23 trillion, trillion, down down by by
Omicroncuts risk ‘Karding’ spurs revival big damage, of quarantine but casualty rules in PHL count limited DEBT-FUNDED Climate activists hold a rally on Thursday, September 29, 2022 in front of the Asian Development Bank (ADB) headquarters in Mandaluyong City, where the 55th annual meeting of the ADB is being held. The group called on the multilateral bank to cancel all public debts arising from ADB-funded fossil fuel projects. Related story on By By Samuel Samuel P. P. Medenilla Medenilla Second Front Page, A16. NONOY LACZA @sam_medenilla @sam_medenilla By By Samuel Samuel P. P. Medenilla Medenilla
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@sam_medenilla @sam_medenilla NTER NTERNATIONA NATIONA LL concerns concerns & & Rene Acosta Acosta over over the theRene possible possible spread spread of of the the @reneacostaBM @reneacostaBM more more infectious infectious Omicron Omicron CoCovid-19 vid-19 variant variant prompted prompted the the govgovRESIDENT RESIDENT Ferdinand Ferdinand R. R. ernment ernment to to reimpose reimpose mandatory mandatory Marcos Marcos Jr. Jr. on on Monday Monday ininfacility-based facility-based quarantine quarantine for for all all spected spected from fromthe the air airthe the masmasarriving arriving passengers passengers in inthe the country. country. sive sive devastation devastation caused causedspokesperby by SuperSuperActing Acting Presidential Presidential spokespertyphoon typhoon “Karding” “Karding” (international (international son son Karlo Karlo B. B. Nograles Nograles announced announced name: name: Noru) Noru) across across Luzon, firing firing on on Sunday Sunday that that the the Luzon, Inter-Agency Inter-Agency off off directives directives to to ensure ensure a a return return to to Task Task Force Force for for the the Management Management normalcy normalcy for for thousands thousands it it affected. affected. of of Emerging Emerging Infectious Infectious Diseases Diseases At At the the same same time, time, however, however, he he was was (IATF) (IATF) suspended suspended the the implemenimplemenpleased pleased by by reports reports of of minimal minimal cacatation tation of of its its Resolution Resolution No. No. 150150sualties, sualties, something something attributed attributed to to AA (s.2021), (s.2021), effectively effectively imposing imposing the the timely timely preemptive preemptive evacuation evacuation stricter stricter protocols protocols for for all all inbound inbound and released to the public on SepResiliency of the Philippine Econby by local local government government units. units. 5.08 5.08 percent percent from from P2.35 P2.35 trillion trillion travelers. travelers. tember 21, 2022, the Court en banc omy, Providing Funds Therefor, Over Over the the weekend, weekend, around around in in 2020. 2020. To To note, note, IATF IATF Resolution Resolution 150150declared Section 11 of (f)local andeco(g) and For Other Purposes) are unIn In its its assessment assessment of local eco75,000 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 of the Bayanihan 2research Law (Anfirm Act constitutional for “riders.” PEOPLE PEOPLE walk walkpast pastthe themural muralbeing of ofGat GatAndres Andres Bonifacio Bonifacioat atManila ManilaCity CityHall HallUnderpass. Underpass. nomic nomic dynamics, 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 Providing for Covid-19 Response 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 withwithSee “SC,”on and expects Recovery and ROYDOMINGO DOMINGO hero heroGat GatAndres AndresBonifacio Bonifacio onA2 Tuesday, Tuesday,November November30. 30. ROY now now expects the theIntervention BSP BSP to to raise raise interdisrupted. disrupted. As As of of p.m. p.m. Monday, Monday, out out the the need need for for33 facility-based facility-based short-term short-term borrowings borrowings from frominterBangBangest est rates rates by by 75 75 more more basis basis points points however however affected affected customers customers of ofMaMaquarantine quarantine as as long long as as they they secure secure ko koSentral Sentralng ngPilipinas Pilipinasor orBSP BSP(P540 (P540 before before the year year ends, ends, Bonds/Preeffectively effectively nila nila Electric Electric Company Company were were down down billion), billion),the Retail Retail Treasury Treasury Bonds/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 of 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 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 compared compared to to their their earlier earlier forecast forecast stored stored the the vital vital Concepcion-CaConcepcion-CaBy By Jasper Jasper Emmanuel Emmanuel Y. 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 redemption of of Treasury Treasury By Jasperbenchmark Emmanuel Y. Arcalas “We appeal to Your ExcelExecutive Order 171 are only against the US dollar and perof of aa4.5-percent 4.5-percent rate rate by by miling miling 69kV Line. Line. and @jearcalas @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 amountingbenchmark to to P43.94 P43.94 billion. billion. as as‘Red,’ ‘Red,’69kV the thetesting testing andquarantine quarantine lency to issue a new Executive effective until the end of this sisting logistical issues in the the theNet end end of of the theredemption year. year.@jearcalasmeans 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 protocols protocols for for all all inbound inbound internainternaOrder and reinstate the import year. The tariff rates on imworld.Marcos “Inflation “Inflation is is debts likely likelyrepaid to to remain remain THIS THISisisthe theview—a view—a seemingly seemingly endless expanse expanseof ofinundated inundated towns townsand and farmlands—that farmlands—that greeted President 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 thanendless 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 HEto Meat Importers duty rates on of 5 per- Karding ported pork would revert to the Marcos Worse, the groupmade pointed elevated elevated relative relative to the the BSP’s BSP’s durtartar-and Tarlac, INITIAL INITIAL damage damage to to testing farms farms was was Tarlac, among among those those hard hardpork hit hitby by Supertyphoon Supertyphoon at atthe theweekend. weekend. Despite Despite the the devastation, devastation, noted that thatpreparations preparations made by by government, government,stop especially especially timely timelypreemptive preemptive evacuation, evacuation, coconut coconut farmers farmers and andKarding500,000 500,000 coconut coconut farmers farmers and andMarcosnoted 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 durshall shall comply comply with with the the testing and and Tradersto A ssoc i at ion mitigated centKarding’s In Quota and 15 at percent regular 30 to 40 PALACE perout that major pork-producing get get range range of of 2 2 percent percent to 4 4 percent percent PHOTO PHOTOpercent COURTESY COURTESYOF OFMALACAÑANG MALACAÑANG PALACE placed placed at at P114 P114 million, million, a a number number mitigated Karding’s impact. impact. Stories Stories at left left and and in in Nation, Nation, page page A3. A3. workers 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’ is urging PresiOut Quota for a duration of 5 cent starting January 1, 2023. countries abroad, particularand andMeanwhile, we we expect expect(Mita) the the central central bank bank to to sure sure to toclimb climbgiven given the themassive massive devdevtered tered with with the the government’s government’s regreg2018 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 dent Ferdinand R. Marcos Jr. years,” Mita said in its letter Mita explained that the furly across Europe and North tighten 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 serves as as 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 the the same same period period also also the the provision provision of of IATF IATF Resolution Resolution toinflation issue a new executive order dated September 28. ther reduction and retention America, are reducing their anchor anchor inflation expectations,” expectations,” for for harvest. Story on on page page A3. A3. for for the the number number of of people people to 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 percent to to P518.7 P518.7 No. No.harvest. 151-A. 151-A. Story (EO) extending the lower cur“Since the conditions surof lower pork tariff rates are sow levels by 1 percent to 3 Fitch Fitch Solutions Solutions said. said. “Karding,” “Karding,” which which packed packed winds winds covered covered by by the the utilization utilization of of the the duct duct an an exclusion-inclusion exclusion-inclusion proprofarmers farmers or or their their details details are are incorincormillion. million. We We hope hope that that more more indiindibillion billionfrom fromlast lastyear’s year’sP574.4 P574.4billion. billion. He He noted noted Hong Hong Kong, Kong, which which has has rent tariff rates on pork imrounding the issuance of EO “necessary” amid a confluence percent. “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 vidualswill willregister registerin inour ourcoconut coconut confirmed confirmed aa case case of of the the Omicron Omicron This This was was raised raised through through global global ports to help ease pressure pressure on 134 [Series 2021] persist, ofthe global events that are affect“While this not sound come come under significant significant By By Cai Cai of U. U. Ordinario Ordinario the region region contracted contracted 0.8 0.8 percent, percent, to to close once oncemay more. more. Ukraine 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 he added. added. farmers farmersthat registry,” registry,” he he said. said. variant, variant, will willalso alsofall fall under the the YelYelbonds bondsunder (P146.17 (P146.17 billion), billion), pressure program program theof country’s inflation. if not worsened, we believe ing both the price andin supply like aAsakawa huge reduction, when as as a a result result of tightening tightening credit credit concon@caiordinario @caiordinario the the sharpest sharpest decline decline in regional regional Asakawa said said the thenoted Russian Russian in in the the region region to to varying varying degrees. dated, dated, prompting thegovernment government (PCA) (PCA)Deputy DeputyAdministrator AdministratorRoel Roel ing ing everyone everyone the the opportunity opportunity to to The The PCA PCA official official noted that that The The updating updating of of the thedegrees. coconut coconut loans loans (P139.98 (P139.98 billion), billion), euro-deeuro-delow low list listprompting countries. countries.the In a letter submitted to Marthere is no need for the DA ofGDP porkgrowth in thein one considers that eachis sow ditions ditions globally. globally. With the the billion), US US Fed Fed GDP inworld. 60 60 years. years. In 2021, 2021, invasion invasion of of Ukraine Ukraine one one list 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 saidabout about3.11 3.11million million check checkgrowth the the veracity veracity of of the theIn list, list, RoRothe the completion completion of of the the is initial initial list farmers farmers registry registry is is mandated mandated by by nominated nominated bonds bondsWith (P121.97 (P121.97 billion), The The suspension suspension of of relief the the rules rules for for cos, theby group proposed the ex[Department of Agriculture] Therebounded group argued that the canthe give birth to 10-20 piglets likely likely to to hike hike by a a further further 75 75 bps bps HE HE weakening weakening Chinese Chinese this this rebounded to to a a 6.9-percent 6.9-percent 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 workworksales sales added. added. of ofcoconut coconutfarmers farmersregistry registrywould would Republic 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 tension andthis further lowering to petition the Tariff Commisprice of imported pork chala year, the dire impact can be the before before end-2022, end-2022, this will will bonds likely likely economy, economy, aa lethal lethal CovCovgrowth growth and this thisbe year year ititis isisexpected expected ties ties to to see see high prices, while the tances tances coming coming from from Russia. Russia. In In President President Marcos Marcos flew flew over the ers ers have have been been registered registered with with the the “The “Theand list listwill will be posted posted in inpublic public be be just just in in high time timeprices, for for the thewhile expected expected Coconut Coconut Industry Industry Trust Trust Fund FundAct. Act. yen-denominated yen-denominated samurai samurai bonds effect effect from from November November 28, 28,over 2021 2021the to to ofthe pork rates for at least sion anew,” it added.the lenged effects of rising more readily of appreciated,” it prompt prompt BSP BSPtariff to to hike hike in in tandem tandem id-19 id-19 variant, variant, the war warupin in to to post postby aa the growth growth of of 4.3 4.3 percent. tightening tightening of monetary monetary policy policy terms terms of of trade, trade, Asakawa Asakawa said said imtyphoon-hit typhoon-hit provinces provinces of Bulacan, Bulacan, government 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 See See “3-M “3-M farmers,” farmers,” A2 A2 im(P24.19 (P24.19the billion). billion). December December 15, 15, 2021. 2021. of five years more to “stem” the The current lower tariff feed costs, oil and transport said. 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 rate of increase in the country's rates on pork imports under costs, theeconomies continuous devaluthink think tank tank added. added. monetary monetary policy policy in in rich rich nations nations various various 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. See “Group,” A2 former President Duterte's ation the Philippine Just Justfood last last prices. week, week, the the Monetary Monetary are arethe thefour four biggest biggestrisks risks to tothe thererevery very of uneven uneven among among the the peso econoeconomarkets” markets” in in the the region. region. their their import import bills bills to to balloon. balloon. He He said said affected affected areas, areas, parpar50.4600economy, 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 n US 58.9900 n japan 0.4094 n UK 64.2224 n HK 7.5156 n CHINA 8.1908 n singapore 41.1453 n australia 38.4556 n EU 57.4327 n KOREA 0.0414 n SAUDI arabia 15.6680 Source: BSP (September 29, 2022) 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
GROUP TO PBBM: EXTEND LOWER PORK IMPORTS TARIFFCOCO LEVY FUND OVER 3-M FARMERS LISTED FOR P75-B
T
M
ADB TAGS 4 BIGGEST RISKS TO ASIAN ECONOMY
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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)