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Monthly Archives: May 2017

Economic managers seek quick resolution

President Duterte speaks while government and military officials clap during a situational briefing at the 2nd Mechanized Infantry Brigade (MIB) headquarters in Iligan City, Lanao del Norte province on May 26, three days after clashes between soldiers and the Maute group erupted in Marawi City, Lanao del Sur province. (Photo: PCOO)

By Luis Leoncio  While economic managers said the economy has enough buffers to blunt the effect of the current crisis in Mindanao, the long-term effect would largely depend on how “things pan out.” 

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All fiscal indicators in upswing for 3 months

The Department of Finance main office in Manila. (Photo: Team Vega via Wikimedia Commons)

By Riza Lozada  Key fiscal indicators improved in the first three months as a result of increasing revenue collections, which now outpaces the yearly economic growth rate, while the national government’s budget gap and outstanding debt remained very well managed, Department of Finance (DOF) figures showed. 

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Managers line up sources of funds for infra buildup

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The Duterte administration has lined up three options to finance the massive P8 trillion to P9 trillion in financing needed for the most ambitious infrastructure program in recent Philippine history, dubbed “Build, Build, Build”. 

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Lopez gives Russians view of Dutertenomics

Trade Secretary Ramon Lopez (left) present to Russian businessmen the details of Dutertenomics in fora in Moscow and St. Petersburg.

Russian businessmen got a glimpse of “Dutertenomics” and business opportunities in the Philippines in a business forum held during the recent state visit of President Duterte to Moscow. 

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Audit, not arbitrary aid rejection, needed—FDC

FDC

A comprehensive audit of public debt and related policies is needed and not an impulsive and selective rejection of development aid, such as those from the European Union (EU), which has been a tough critic of the conduct of Mr. Duterte’s war on drugs, debt watchdog Freedom from Debt Coalition (FDC) said. 

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10 key deals inked in Duterte’s Moscow tour

Agriculture Secretary Emmanuel Piñol gives an overview of the agreement signed with his Russian counterpart during a press conference at the Four Seasons Hotel in Moscow. Piñol signed a memorandum of understanding
with the Russian Federation’s Ministry of Agriculture to bring about food security in the Philippines
through cooperation and research in agriculture and fisheries, livestock breeding, processing, and transportation
and storage of agriculture and fishery products and other agricultural products.

The Philippines and Russia sealed a total of 10 bilateral agreements after President Duterte’s recent official visit to Moscow. 

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Anti-dirty money deal seen in EAS leaders meet

Foreign Affairs Assistant Secretary Ma. Helen Barber-de la Vega. TOTO LOZANO/
PPD.PCOO

Senior officials from the East Asian region and adjoining countries are considering several documents, including those related to anti-money laundering and countering financing terrorism, which will be issued in November for the Philippines during the East Asia Summit (EAS). 

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Royal Cargo starts construction of P1.2-B Bulacan logistics hub

(From left) Romeo Gaco of the National Meat Inspection Services (NMIS) of the
Department of Agriculture (DA) in Region 3; Dr. Simeon Amurao Jr., director III
of the Office of the Director of the DA’s Bureau of Animal Industry; Mamerto
Cervania, budget and finance officer at the Office of the Mayor of Bulacan; Reynado Quililean of the NMIS; Elmer Francisco U. Sarmiento, president of
Royal Cargo Inc.; Michael K. Raeuber, group chief executive officer of Royal
Cargo Inc.; Edna Sarmiento, wife of Elmer Sarmiento; Leni Raeuber, wife of
Michael Raeuber; Miguel Hizon, grandson of Darius Alexis Hizon, owner of food
company Pampanga’s Best; and Ralph Bean, agricultural counselor at the USDA Foreign Agricultural Service.

By Riza Lozada  Global logistics firm Royal Cargo Inc. recently broke ground for the construction of its P1.2-billion solar-powered Cargo City North Hub on Plaridel Bypass Road, Bulacan province, as part of its capacity expansion in the Philippines. 

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Strong growth seen with BRI infra plan

China’s President Xi Jinping (left) and President Duterte acknowledge greeters in one of their several public appearances in Beijing. (Photo: PNA)

A “strong Philippine economic growth” is expected in the coming years as a result of the country’s joining the $1-trillion Belt & Road Initiative (BRI) infrastructure plan, seven independent analysts said during the May 25 Pandesal Forum. 

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Xiamen sees huge gains from BRICS Summit hosting

Tourists visit Gulangyu Island in Xiamen, in southeast China’s Fujian province on May 18, 2017. The 9th BRICS Summit will be held in Xiamen in September. XINHUA

Xiamen, a bustling coastal city of Fujian province where many Chinese-Filipinos in the Philippines have traced their origin, vowed to grab an unprecedented opportunity from its hosting of the 9th BRICS Summit to enhance its economic and tourism development. 

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