Foreign Affairs Secretary Albert del Rosario on Wednesday revealed that
Manila was forced to seek international arbitration over its territorial
dispute in the South China Sea (West Philippine Sea), but efforts to
bilaterally resolve the tension would always run “into a dead end.”
FOREIGN players are expected to play a crucial role in the Philippine
banking industry’s ongoing liberalization, providing a much-needed boost
to foreign direct investment (FDI) inflows to help maintain the
country’s positive external position, the central bank said.
THE ongoing El Niño dry spell, coupled with a mild firming of
oil prices, could drive consumer prices higher in the months ahead but
not enough to push headline inflation above the government target range
and trigger a policy rate hike, ING Bank Manila said in a recent
financial markets report.
THE World Bank still sees the Philippine economy expanding by 6.5
percent this year but only if the government fully executes its budget
for the year and implements the Typhoon Yolanda (Haiyan) master plan.
A source recently told The Manila Times that highly taxable items,
particularly “high-value, low-volume” merchandise such as watches and
jewelry, were being slipped right under the noses of Bureau of Customs
(BOC) personnel through parcel packages from abroad passing through
SINGAPORE: The World Bank slashed its forecast for growth in the
Philippines to 6.5 percent this year from its October estimate of 6.7
percent, but this is still higher than last year’s 6.1 percent
expansion, the bank said on Monday.
The 44 Special Action Force (SAF) commandos killed in the Maguindanao clash with Moro rebels last Sunday will receive the Bravery Medal or the Medalya ng Katapangan, one of the highest recognition given by the Philippine National Police.