Pilar Manuel
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National Capital Region, Québec, Rockwell
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Articles by Pilar Manuel
Diokno: PPP-funded projects worth half of Marcos' ₱9-T infra program
Metro Manila (CNN Philippines, April 21) — The administration of President Ferdinand Marcos Jr. is turning to public-private partnerships (PPPs) to fund half of its multi-trillion peso infrastructure program, his finance chief said Friday. "The whole program is worth ₱9 trillion, and half of that would be through public-private partnerships," Finance Secretary Benjamin Diokno told CNN Philippines' The Exchange.
Diokno: PPP-funded projects worth half of Marcos' ₱9-T infra program
Metro Manila (CNN Philippines, April 21) — The administration of President Ferdinand Marcos Jr. is turning to public-private partnerships (PPPs) to fund half of its multi-trillion peso infrastructure program, his finance chief said Friday. "The whole program is worth ₱9 trillion, and half of that would be through public-private partnerships," Finance Secretary Benjamin Diokno told CNN Philippines' The Exchange.
Diokno: Foreign investors interested in PH utilities, renewable energy
Metro Manila (CNN Philippines, April 21) — Efforts to liberalize the economy has drawn investor interest in infrastructure projects in key sectors, the Department of Finance said Friday. "We opened up telco, we opened up toll roads, we opened up shipping to foreign investors… we recently opened up also renewable energy, and so there's a lot of interest in those areas. These are big-ticket items," Finance Secretary Benjamin Diokno told CNN Philippines' The Exchange.
JICA: PH behind ASEAN neighbors in infrastructure development
Metro Manila (CNN Philippines, April 21) — The Philippines trails fellow Southeast Asian nations in developing infrastructure, Japan's bilateral aid agency said Friday. "Unfortunately I have to say that the infrastructure development level in this lovely country is lagging behind ASEAN (Association of Southeast Asian Nations) neighboring countries," Japan International Cooperation Agency (JICA) chief country representative Takema Sakamoto told CNN Philippines' The Exchange.
High prices still hounding Filipinos in first months of Marcos presidency
Metro Manila (CNN Philippines, October 7) — "Dati ang sahod ko medyo may naiiwan pa, may natitira pa. Pero for now, parang said na said eh." [Translation: Before, I was somehow able to save a portion of my salary. Now, it’s like there’s nothing left.] This was how beauty salon worker Michelle Kairan described her life nowadays. A mother of three, she’s used to working her fingers to the bone to provide for her family’s daily needs.
AMRO trims PH growth forecast for 2023 amid local, global headwinds
Metro Manila (CNN Philippines, October 6) — The Philippine economy could expand at a milder pace in 2023 as it weathers heightened challenges here and abroad, a regional macroeconomic surveillance organization said Thursday. In its latest regional economic outlook quarterly update, the ASEAN+3 Macroeconomic Research Office (AMRO) downgraded its growth forecast for the country next year to 6.3%, from its 6.5% estimate in July.
Marcos admin borrows ₱117B in global bond market debut
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, October 6) — The administration of President Ferdinand “Bongbong” Marcos Jr. borrowed $2 billion (about ₱117 billion) from international investors in its first-ever global bond float, the Bureau of the Treasury (BTr) confirmed Thursday.
PH jobless tally at 2.68M in August
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, October 6) — Around 2.68 million Filipinos aged 15 and up were out of work in August, slightly worsening from the 2.6 million the month prior, the Philippine Statistics Authority (PSA) reported Thursday. This is equivalent to a national unemployment rate of 5.3%, higher than 5.2% in July.
Inflation rises to 6.9% in September
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, October 5) — Inflation sped to 6.9% in September from 6.3% in August with food and energy costs mainly driving the increase in commodity prices, the Philippine Statistics Authority (PSA) said Wednesday.
BSP to address financial market 'disruption' with weak peso
Metro Manila (CNN Philippines, October 4) — The Bangko Sentral ng Pilipinas (BSP) on Tuesday reiterated its commitment to address the weakness of the peso, which closed at a new record low of ₱59 against the US dollar just a day ago. “The BSP is taking steps to manage any disruption in our financial market,” said the BSP in a statement, adding it looks forward to addressing “legitimate” transactions involving the dollar.
Peso breaches ₱59 vs. $1 intraday; PSEi plummets to 5,800 level after nearly 2 years
Metro Manila (CNN Philippines, September 28) — The Philippine peso continued to lose ground against the US dollar as it surpassed ₱59 during Wednesday's trading, while local shares plunged to the 5,800 level for the first time since October 2020. The local currency, which opened at ₱58.95, traded as weak as ₱59.02 and as strong as ₱58.88, according to Bankers Association of the Philippines figures. It closed at ₱58.98, a centavo away from the current record-low close of ₱58.99 set on Tuesday.
Peso hits new low of ₱59 vs. $1 intraday
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 28) — The Philippine peso continued losing ground against the US dollar as it traded as low as ₱59 on Wednesday, Bankers Association of the Philippines figures show. From its all-time lowest close of ₱58.99 on Tuesday, the local currency opened trading at ₱58.95. It also hit as strong as ₱58.88 versus the greenback as of writing.
Peso nears ₱59 against dollar; PSEi falls to 6,000 level
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 27) — The Philippine peso and local shares continued their slump on Tuesday with the US Federal Reserve signaling more interest rate hikes and recent British policy pronouncements weighing on the pound.
PH economy to expand faster in 2022; China to dampen East Asia growth - World Bank
Metro Manila (CNN Philippines, September 27) — The Philippine economy is seen to grow faster this year even with the expected slowdown in East Asia and the Pacific, according to World Bank's latest forecasts. During a press briefing on Tuesday, World Bank chief East Asia and the Pacific economist Aaditya Mattoo said they now project a 6.5% growth for the country, up from their prior 5.7% projection. The latest estimate is also the lower end of economic managers' target band of 6.5-8% for 2022.
Businesses less confident, consumers more upbeat looking ahead
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 23) — Businesses are less bullish beyond the third quarter while consumers are more optimistic looking ahead, the latest surveys by the Bangko Sentral ng Pilipinas showed.
Businesses less confident, consumers more upbeat looking ahead
Metro Manila (CNN Philippines, September 23) — Businesses are less bullish beyond the third quarter while consumers are more optimistic looking ahead, the latest surveys by the Bangko Sentral ng Pilipinas showed. The BSP published Friday its third-quarter Consumer Expectations Survey (CES) and Business Expectations Survey (BES), which measure consumer and business sentiment through confidence indices (CIs). The latest BES yielded a CI for the next quarter of 43.9, down from 46.4 in the last poll.
Peso sinks to ₱58.50 vs. dollar, PSEi tumbles to 6,200 mark over Fed, BSP hikes
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 23) — The Philippine peso and local shares performed worse on Friday as investors digest the interest rate hikes of the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve amid rising commodity prices.
BSP chief: 'Strong' PH-US ties don't mean less trade with China
Metro Manila (CNN Philippines, September 23) — President Ferdinand "Bongbong" Marcos Jr.'s commitment to bolster ties with the United States will not impact the country’s trade relations with China, the Bangko Sentral ng Pilipinas said late Thursday (Manila time). "It does not necessarily follow that the strong relationship with the Philippines and United States means less trade and investments from China, okay?
BSP hikes borrowing rate to 4.25%
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 22) — The Bangko Sentral ng Pilipinas (BSP) said Thursday it is raising its key interest rate to 4.25% amid a weakening peso and rising commodity prices. The Monetary Board's decision to hike the policy rate by 50 basis points or half a percentage point succeeds its 50-bp upward adjustment in August.
BSP: Peso weakening 'expected' over US Fed rate hikes, global risks
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 22) — The Bangko Sentral ng Pilipinas (BSP) allayed worries over the peso's freefall against the dollar on Thursday, emphasizing the local currency's depreciation stems from the greenback's strength.
BSP hikes borrowing rate to 4.25% with inflation seen above target until 2023
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 22) — The Bangko Sentral ng Pilipinas (BSP) said Thursday it is raising its key interest rate to 4.25%, a level last seen in August 2019, to boost its fight against surging commodity prices.
ADB sees PH inflation above target until 2023
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 21) — Prices of basic goods in the Philippines could rise at faster paces until next year as supply-related concerns persist, said the Asian Development Bank (ADB) in its latest report.
Peso plunges to ₱58 vs. dollar; PSEi sinks back to 6,300 level
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 21) — Both the Philippine peso and local shares continued their descent on Wednesday as markets await the United States Federal Reserve’s next move, which is widely seen as another hefty interest rate increase.
Peso drops to fresh record low against dollar
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 20) — The Philippine peso plunged to a new record low against the dollar on Tuesday, as the greenback continues gaining ground amid expectations of another major US Federal Reserve interest rate hike.
PSEi dives back to 6,400 level as investors await Fed, BSP decision
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 19) — Local shares plunged to 6,400 territory on Monday after over a month as investors await the rate-setting decisions of the US Federal Reserve and Bangko Sentral ng Pilipinas (BSP) this week. The Philippine Stock Exchange (PSE) index closed at 6,437.42, down 1.70% from 6,548.77 on Sept. 16.
Antitrust body sets thresholds for required notifications on mergers, acquisitions
Metro Manila (CNN Philippines, September 16) — The Philippine Competition Commission (PCC) announced Friday new thresholds for required notifications on mergers and acquisitions with the expiry of temporary caps set by the Bayanihan to Recover as One Act. In a statement, the PCC said that effective Sept. 16, it must be notified on mergers and acquisitions reaching a size of party (SoP) of ₱6.1 billion and a size of transaction (SoT) of ₱2.5 billion for mandatory merger review.
Peso sinks further to new record-low against US dollar
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 16) — The Philippine peso ended trading against the dollar at ₱57.43 on Friday, plunging past the previous record-low close of ₱57.18 set on Sept. 8, according to Bankers Association of the Philippines data. From its ₱57.16 close on Thursday, the local currency opened at ₱57.35.
NTC to telcos: Deactivate clickable links from 'malicious sites' in text messages
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 13) — The National Telecommunications Commission (NTC) has ordered the country's telecommunications firms to deactivate clickable links in text messages amid the recent surge in scam and spam texts. In a memorandum dated Sept.
FDIs fall to lowest in over a year in June
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 12) — The country’s foreign direct investments tumbled to $471 million in June, the lowest in more than a year, according to Bangko Sentral ng Pilipinas data released Monday. The latest figure, which represents a 51.5% decline, is the weakest level tallied since $455 million in May 2021.
Zobel resigns from Ayala Group top posts amid health reasons
Metro Manila (CNN Philippines, September 12) — Fernando Zobel de Ayala has stepped down as president, chief executive officer, and board vice chairman of Ayala Corp., the listed conglomerate confirmed Monday. In a disclosure to the local bourse, Ayala said the resignation is "effective immediately to allow him to focus more on his recovery and health." No other details were provided on Zobel's condition.
Around 2.6 million Filipinos out of work in July
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 8) — The Philippine Statistics Authority on Thursday said about 2.6 million Filipinos were unemployed in July, slightly lower than 2.99 million the month prior. This brought the national joblessness rate for the month to 5.2%, down from 6% in June.
Peso plunges to new record low of ₱57 vs. dollar
Metro Manila (CNN Philippines, September 6) — The Philippine peso continued its downward spiral on Tuesday as it closed at ₱57 against the US dollar, breaching the record ₱56.999 low posted just a day ago. The currency began trading at ₱56.888, hitting as strong as ₱56.86, according to Bankers Association of the Philippines data. Its weakest intraday value was also ₱57. Economists attributed the peso's lingering weakness to the current attractiveness of the greenback.
Inflation eases in August to 6.3%
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 6) — Inflation cooled to 6.3% in August from 6.4% in July with the increase in prices driven by transport and food costs, the Philippine Statistics Authority reported Tuesday. The latest pace breaches the 4.4% pace recorded in the same month last year.
Press Sec: End of ABS-TV5 deal 'chance' for PTV, IBC to grow
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 2) — Press Secretary Trixie Cruz-Angeles admitted on Friday that she sees an opportunity for state-run networks PTV-4 and IBC-13 to grow following the termination of ABS-CBN and TV5's investment agreement.
House panel swiftly OKs ₱9B budget proposed by Office of the President
Metro Manila (CNN Philippines, September 2) — The House of Representatives' Committee on Appropriations approved on Friday the proposed ₱9 billion budget of the Office of the President (OP) for 2023 without any deliberation.
Peso closes at new record low after nearly 18 years
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 2) — The peso posted its weakest close in almost 18 years on Friday as it continued to lose ground against the US dollar. Bankers Association of the Philippines data show the local currency ended trading at ₱56.77, worsening from ₱56.42 on Thursday. Today's close breaches the record ₱56.45 in October 2004.
Manufacturing activity improves in August, but risks to growth seen
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 1) — Local manufacturing activity strengthened in August amid better conditions for the sector, a survey by S&P Global published Thursday revealed.
ABS-CBN to no longer buy a third of TV5; Cignal's investment in Sky Cable cancelled
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, September 1) — Listed media conglomerate ABS-CBN Corp. will no longer buy a third of TV5 Network Inc. with the termination of the two companies’ investment agreement, according to its disclosure to the local stock exchange on Thursday. ABS-CBN said it “mutually agreed” with TV5 on Aug.
DOF wants COVID-19 assistance limited to national ID holders
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 26) — The Department of Finance (DOF) supports limiting the provision of COVID-related assistance to Filipinos with national ID, as the government continues to deal with tight finances amid the pandemic.
Budget chief: Give us a chance to clean PS-DBM
Metro Manila (CNN Philippines, August 26) — Budget chief Amenah Pangandaman on Friday said she wants to fix the embattled Procurement Service (PS), which is under her agency's administrative supervision, amid issues on questionable huge purchases for other departments. Pangandaman told the House appropriation committee hearing on the proposed 2023 budget that the PS-DBM had a good track record from 2017 to 2019 under then Sec. Benjamin Diokno. She was undersecretary at the time.
Rodriguez explains role in sugar importation mess, ignored Order No. 4
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 23) – Executive Secretary Vic Rodriguez on Tuesday revealed that he received a draft of the controversial order allowing the importation of 300,000 metric tons (MT) of sugar prior to its issuance, but ignored it since President Ferdinand “Bongbong” Marcos Jr. has not decided on it then.
NEDA: Comfort of living not assessed in PSA food poverty threshold
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 19) — The Philippine Statistics Authority's (PSA) food poverty threshold of ₱8,379 per month does not evaluate a family's comfort in living within this budget, the National Economic and Development Authority (NEDA) said Friday. "Wala po kaming ginagawang judgment as to komportable na ba 'yung nagiging buhay.
BSP chief: Dollar reserves still 'adequate' despite recent drop
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 18) — The Philippine central bank chief said he is not concerned over the drop in foreign exchange reserves—still finding them enough despite moves to support the peso against a stronger dollar. "I suppose without our intervention, the peso would have depreciated even more.
BSP hikes borrowing rate to 3.75%, sees higher inflation in 2022 before slowdown
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 18) — The Bangko Sentral ng Pilipinas (BSP) raised the cost of borrowing on Thursday by half of a percentage point to 3.75% as it continues cracking down on surging commodity prices.
Binance securing virtual asset service provider license in PH
Metro Manila (CNN Philippines, August 16) – Cryptocurrency exchange Binance confirms it is securing a permit to operate as a virtual asset service provider (VASP) in the country. "Binance is in the process of acquiring a VASP license in the Philippines.
Nearly 20M poor Filipinos in 2021 as COVID-19 drives up poverty rate to 18.1%
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 15) — Almost 20 million Filipinos lived in poverty in 2021 as the country continues to weather the COVID-19 pandemic, the Philippine Statistics Authority said Monday. The PSA estimated 19.99 million individuals or 3.5 million families had per capita incomes unable to meet their basic food and non-food needs, or a poverty rate of 18.1%.
Ayala sees 56% boost in net income for H1 2022
Metro Manila (CNN Philippines, August 12) – Ayala Corporation raked in ₱16.3 billion during the first six months of 2022, up 56% with most of its businesses posting double-digit growths within the period. In a disclosure to the local bourse, the conglomerate cited the strong performance of its banking, real estate, and telecommunications segments in the said stretch.
BSP: No new permits for virtual asset service firms until 2025
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 12) — The Bangko Sentral ng Pilipinas will not be accepting new virtual asset service provider (VASP) license applications for three years beginning September.
Tulfo blames govt red tape for delay in digitalization of DSWD aid distribution
enablePagination: false maxItemsPerPage: 10 totalITemsFound: maxPaginationLinks: 10 maxPossiblePages: startIndex: endIndex: Metro Manila (CNN Philippines, August 12) – Department of Social Welfare and Development (DSWD) Secretary Erwin Tulfo admits it's a struggle to digitalize the provision of aid to Filipinos, pinning the blame on the long-standing problem of government red tape. “Nahihirapan kami kasi po kapag sa gobyerno ang dami pong red tape.
Strong sales push Jollibee earnings near ₱2.8B in second quarter
Metro Manila (CNN Philippines, August 11) – Jollibee Foods Corp.’s earnings surged nearly threefold in the second quarter of 2022 thanks to robust sales amid laxer pandemic restrictions, it said Thursday. The listed fast food giant reported a net income attributable to parent equity holders of ₱2.78 billion, way up from P976 million from April to June last year.
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