DOCSLIB.ORG

BAIPHIL Market Watch – 13 July 2021 Page 1 of 4

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
BAIPHIL Market Watch – 13 July 2021 Page 1 of 4 kGo To Homepage BAIPHIL 13 July MARKET WATCH 2021 Legend BAIPHIL@80: Improvement / Up Deterioration / Down Building Resilience Through Strong Governance No Movement FINANCIAL MARKETS AT A GLANCE Currency Exchange 1 Current Previous Domestic Stock Index 3 Current Previous USD/PHP 50. 1200 50.0800 PSEi 6, 913.87 6,834.92 USD/JPY 110. 2900 110.1400 Trade Value (Php B) 4.836 8.419 USD/CNY 6. 4755 6.4790 EUR/USD 1.1868 1.1876 Stock Index 4 Curre nt Previous GBP/USD 1.3892 1.3901 NIKKEI 225 28,569.02 27,940.42 FTSE 100 7,125.42 , 7,121.88 PHP BVAL DOW JONES 34,996.18 34,870.16 2 Current Previous Reference Rates S&P 500 4,384.63 4,369.55 30 -Day 0. 9786 0.9792 NASDAQ 14,733.24 14,701.92 91 -Day 1. 1782 1.1775 Various 5/6 Curren t Previous 180 -Day 1. 4071 1.4123 Brent Crude (USD/bbl) 75.40 75.55 1-Year 1. 6089 1.6022 3-M US Treasury Yield 0. 05 % 0.06% 3-Year 2. 3442 2.3357 5-Y US Treasury Yield 0. 81 % 0.79% 5-Year 2. 9635 2.9501 10 -Y US Treasury Yield 1. 38 % 1.37% 10 -Year 3. 8725 3.8513 PHILIPPINES Stocks bounce from last week’s losses. The local stock market bounced off last week’s losses on bargain-hunting spurred by upbeat US bourses. The main index rose 78.95 points or 1.15 percent to close at 6,913.87 as the Services and Mining and Oil counters led the advance across the board. https://mb.com.ph/2021/07/12/stocks-bounce-off-last-weeks-losses/ P/$ rate closes at P50.12/$1. The peso closed lower at P50.12 to the US dollar Monday, (July 12) from P50.08 last Friday. The weighted average rate depreciated to P50.111 from P50.083. Total volume amounted to $664.2 million according to the Bankers Association of the Philippines. https://mb.com.ph/2021/07/12/p-rate-closes-at-p50-12-1/ T-bill rates rise as peso weakens to 50:$1. Treasury bill rates rose across-the-board on Monday (July 12) alongside a weaker peso which fell to the 50:$1 level last week. The Bureau of the Treasury awarded all P15 billion in T-bills it offered as demand remained strong with a total of P42.1 billion in bids across the three tenors, or maturity periods, making the auction almost three times oversubscribed. https://business.inquirer.net/326886/t-bill-rates-rise-as-peso-weakens-to-501 BSP registers P4-M rediscounting loan. For the first time this year, the Bangko Sentral ng Pilipinas (BSP) released P4 million under its peso rediscounting loan, which was unused by banks since the third quarter 2020 due to excess money supply. In the first six months of 2021, the BSP said a lone rediscounting availment of P4 million is the rediscount by a bank under production credits, for a loan that “financed industrial processing.” https://mb.com.ph/2021/07/12/bsp-registers-p4-m-rediscounting-loan/ Long term funds surged into PH in April as foreigners snap up PH debt. The inflow of long term investments into the country continued its momentum in April 2021 as foreign fund managers allocated more money to Philippine-issued debt from both the public and private sectors, according to the Bangko Sentral ng Pilipinas (BSP). In a statement, the BSP said that foreign direct investment net inflows rose by 114.4 percent year-on-year to $679 million from $317 million in the same period last year. https://business.inquirer.net/326902/long-term-funds-surged-into-ph-in-april-as-foreigners-snap-up-ph-debt BAIPHIL Market Watch – 13 July 2021 Page 1 of 4 Fitch Ratings revises PH outlook to ‘Negative’. Fitch Ratings has revised the Philippines’ outlook to “Negative” from “Stable” due to the national government’s weakening fiscal finances brought about by the prolonged coronavirus pandemic. In a statement released Monday evening, July 12, the London-based credit rater cited the increasing risks to the country’s credit profile from the impact of the pandemic. https://mb.com.ph/2021/07/12/fitch-ratings-revises-ph-outlook-to-negative/ AMLC: Philippines to use AI to fight dirty money. The Philippines is utilizing artificial intelligence (AI) to fight money laundering as well as terrorist and proliferation financing after the country was included in the gray list of global dirty money watchdog Financial Action Task Force (FATF). https://www.philstar.com/business/2021/07/13/2111998/amlc-philippines-use-ai-fight-dirty-money Lopez wants to keep GCQ status. Maintaining a general community quarantine (GCQ) level in the National Capital Region and neighboring provinces (NCR Plus) ensures continued reopening of the domestic economy, Trade and Industry Secretary Ramon M. Lopez said. This is in contrast to the position of Economic Planning Secretary Carl Kendrick Chua that there is no need for GCQ anymore despite the threat of the Delta variant. The country’s chief economic strategist even proposed for a face-to-face classes. https://mb.com.ph/2021/07/12/lopez-wants-to-keep-gcq-status/ Duterte economic team cold to prolonging GCQ in NCR, high-risk areas. Finance Secretary Carlos Dominguez III and Socioeconomic Planning Secretary Karl Kendrick Chua on Monday (July 12) sought to continue managing pandemic risks while speeding up mass vaccina- tion to protect not only lives but also livelihoods from the threat posed by more contagious virus variants which forced recent lockdowns in neighboring countries. “We recognize the higher risk brought about by the Delta variant. This can be better managed by guarding our borders and enforcing health standards,” Dominguez quoted Chua as saying. https://business.inquirer.net/326895/duterte-economic-team-cold-to-prolonging-gcq-in-ncr-high-risk-areas Philippines cautioned against loosening social restrictions. Moody’s Analytics has warned the Philippines about loosening its social restrictions amid the recent trend in the resurgence of COVID-19 infections as well as the spread of the Delta variant across Asia-Pacific. In a report, Moody’s Analytics senior Asia-Pacific economist Katrina Ell and economist Stefan Angrick said the contagious Delta strain is sweeping through Asia and hurting the region’s economic recovery. https://www.philstar.com/business/2021/07/13/2112007/philippines-cautioned-against-loosening-social-restrictions 130,000 OFWs returning home – OWWA. At least 130,000 overseas Filipino workers (OFWs) are coming home from different countries in the next months, the Overseas Workers Welfare Administration (OWWA) reported yesterday. OWWA chief Hans Cacdac said with the large number of OFWs expected to return home, the agency is seeking additional funding for the quarantine hotel accommodations and other needs of migrant workers. https://www.philstar.com/nation/2021/07/13/2112015/130000-ofws-returning-home-owwa Meralco to procure additional power supply in next 2 years. DanessaManila Electric Co. (Meralco) will procure nearly 4,000 megawatts (MW) of baseload and mid-merit supply in the next two years to meet its projected demand growth until 2049. In its Power Supply Procure- ment Plan 2021-2030 submitted to the Department of Energy, Meralco said it would subject to competitive selection process (CSP) a total of 3,850 MW starting this year until next year. https://www.philstar.com/business/2021/07/13/2112004/meralco-procure-additional-power-supply-next-2-years REST OF THE WORLD Dow hits 35,000 points as US stocks end at records. The Dow flirted with its first-ever close above 35,000 points on Monday (Jul 12) as US stocks turned in another record-filled session ahead of a heavy schedule of earnings releases and economic reports. The blue-chip index finished at 34,996.18, a gain of 0.4 per cent. The index was just above 35,000 points at the 8pm GMT closing bell, but settled under the benchmark after the close. https://www.channelnewsasia.com/news/business/dow-hits-35-000-points-us-stocks-end-records-15209532 China is injecting $150 billion into the economy — that may fuel a short-term rally, UBS says. China’s move to cut the amount of funds banks need to hold in reserve could boost market sentiment — and that could be good news for stocks in certain sectors, according to investment bank UBS. The People’s Bank of China said Friday it would cut the reserve requirement ratio (RRR) by 50 basis points for all banks, effective from July 15. The move is expected to release around 1 trillion yuan (or $154 billion) in long-term liquidity into the economy. https://www.cnbc.com/2021/07/12/china-monetary-policy-pboc-to-cut-rrr-impact-on-economy-and-sectors.html England expected to confirm lockdown lifting despite fears over delta surge. U.K. Prime Minister Boris Johnson is expected to confirm on Monday that the final easing of lockdown rules in England will go ahead of July 19. The move comes despite a continuing surge in coronavirus cases caused by the more infectious delta variant; over 31,000 new cases were reported in the U.K. on Sunday. https://www.cnbc.com/2021/07/12/england-expected-to-confirm-lockdown-lifting-despite-fears-over-delta-surge.html ECB to change policy guidance at next meeting, Lagarde says. The European Central Bank will change its guidance on the next policy steps at its next meeting to reflect its new strategy and show it is serious about reviving inflation, ECB President Christine Lagarde said in BAIPHIL Market Watch – 13 July 2021 Page 2 of 4 an interview aired on Monday.
Load more

Recommended publications
  • GGGI the Philippines Country Planning Framework 2021 -2025
    GGGI The Philippines Country Planning Framework 2021 -2025 GGGI Country Planning Framework (2021 - 2025) - THE PHILIPPINES Copyright © February 2021 The Global Green Growth Institute 19F Jeongdong Building, 21-15, Jeongdong-gil Jung-gu, Seoul, Korea 100-784 The Global Green Growth Institute does not make any warranty, either express or implied, or assumes any legal liability or responsibility for the accuracy, completeness, or any third party’s use or the results of such use of any information, apparatus, product, or process disclosed of the information contained herein or represents that its use would not infringe privately owned rights. i GGGI Country Planning Framework (2021 - 2025) - THE PHILIPPINES Acknowledgements GGGI Authors: Juhern Kim (Country Director), Rhoel Bernardo, and Jaepyo Chun (KMCO) GGGI Reviewers and special thanks to: Hyoeun Jenny Kim (Deputy Director-General), Gerard O'Donoghue (Assistant Director-General), Jin Young Kim (Director, Asia), Maria Cecile, Warin Nitipaisalkul, Lilibeth Acosta-Michlik, Jisu Min, Feelguen Song, Pepe Nebril, Gilda Garibay, Gulshan Vashistha, Christina Cheong, Stella Seungyeon Lee, Bertha Wakisa Chiudza, Cris Agravante, Samyeol Choi, Chiden Balmes, Dave Kim, Nayoung Moon, Hyon Sang Ahn, Adam Ward, Oyuchimeg Amartuvshin, Muharrem Askin, Andrew Lee, Lasse Ringius, Mahamadou Tounkara, Edith Batac, Ingvild Solvang, Maricor Muzones, Mohammad Ali Shaikh, Rainelda Ampil, Sivabalan Muthusamy, Hangja Kim, Carrie Ho, Koeun Lim, Yoonkyung Lee, Jungah Lee, Hyunjung Park, Yoonsuk Choi, Kyu Hwa Park, Sangchul Han, Alexander Chabanyuk, Kyeonga Jeong, Soojoo Choi, Jarupat Butnuch, Junhee Kim, Mihwa Wi, Hakku Bang, Marina Brenden, Nishant Bhardwaj, HyoYoul Kim, and Hee Kyung Son Government Coordination: Reby Orbista Special thanks to the Philippines Government and Congress: Former Secretary Ernesto Pernia, Assistant Secretary Jonathan L.
    [Show full text]
  • Malacañang Says China Missiles Deployed in Disputed Seas Do Not
    Warriors move on to face Rockets in West WEEKLY ISSUE 70 CITIES IN 11 STATES ONLINE SPORTS NEWS | A5 Vol. IX Issue 474 1028 Mission Street, 2/F, San Francisco, CA 94103 Email: [email protected] Tel. (415) 593-5955 or (650) 278-0692 May 10 - 16, 2018 White House, some PH solons oppose China installing missiles Malacañang says China missiles deployed in Spratly By Macon Araneta in disputed seas do not target PH FilAm Star Correspondent By Daniel Llanto | FilAm Star Correspondent Malacañang’s reaction to the expressions of concern over the recent Chinese deploy- ment of missiles in the Spratly islands is one of nonchalance supposedly because Beijing said it would not use these against the Philippines and that China is a better source of assistance than America. Presidential spokesperson Harry Roque said the improving ties between the Philippines and U.S. Press Sec. Sarah Sanders China is assurance enough that China will not use (Photo: www.newsx.com) its missiles against the Philippines. This echoed President Duterte’s earlier remarks when security The White House warned that China would experts warned that China’s installation of mis- face “consequences” for their leaders militarizing siles in the Spratly islands threatens the Philip- the illegally-reclaimed islands in the West Philip- pines’ international access in the disputed South pine Sea (WPS). China Sea. The installation of Chinese missiles were Duterte said China has not asked for any- reported on Fiery Reef, Subi Reef and Mischief thing in return for its assistance to the Philip- Reef in the Spratly archipelago that Manila claims pines as he allayed concerns of some groups over as its territory.
    [Show full text]
  • Advisory No. 2021 – 04 : Temporary Suspension on the Processing Of
    ADVISORY NO. 2021 - 04 SUBJECT : TEMPORARY SUSPENSION ON THE PROCESSING OF REQUESTS OF FOREIGN NATIONALS FOR ENDORSEMENT TO THE DEPARTMENT OF FOREIGN AFFAIRS FOR TRAVEL BAN EXEMPTIONS TO THE PHILIPPINES This is with regard to the requests of Foreign Nationals (FNs) for endorsement to the Department of Foreign Affairs (DFA) for Travel Ban Exemptions (TBE) to the Philippines. The Department of Information and Communications Technology (DICT) refers to the following: (i) The Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF- MEID) Resolution No. 103 dated 18 March 2021, wherein the entry of FNs into the country will be temporarily suspended from 22 March 2021 to 21 April 2021; (ii) The IATF-MEID National Task Force Against COVID-19 (NTF COVID-19) Memorandum Circular No. 6 dated 18 March 2021 on the Temporary Suspension of Travel into the Philippines, wherein the temporary suspension of entry of FNs into the country from 22 March 2021 to 21 April 2021 was also provided; and (iii) The Letter dated 19 March 2021 from DFA Undersecretary for Civilian Security and Consular Affairs Brigido J. Dulay on the Suspension of Processing of Entry Exemption Requests from 22 March 2021 to 21 April 2021, wherein National Government Agencies (NGAs) were advised not to send any endorsements during the said period as they will be disregarded. In line with the abovementioned, please be advised that the DICT will also be suspending the processing of requests of FNs for endorsements to the DFA for TBE to the Philippines from 22 March 2021 until 21 April 2021.
    [Show full text]
  • Building Resilience Against COVID-19 and Other Risks SEPTEMBER 2020 CONFERENCE PROCEEDINGS CONFERENCE
    INNOVATING GOVERNANCE: 6th Building Resilience against COVID-19 and Other Risks SEPTEMBER 2020 CONFERENCE PROCEEDINGS CONFERENCE Philippine Institute for Development Studies Surian sa mga Pag-aaral Pangkaunlaran ng Pilipinas Innovating Governance: Building Resilience against COVID-19 and Other Risks Proceedings of the Sixth Annual Public Policy Conference 2020 Innovating Governance: Building Resilience against COVID-19 and Other Risks Proceedings of the Sixth Annual Public Policy Conference 2020 Philippine Institute for Development Studies Surian sa mga Pag-aaral Pangkaunlaran ng Pilipinas Copyright 2021 Published by Philippine Institute for Development Studies Printed in the Philippines. Some rights reserved. The views expressed in these proceedings are those of the authors and do not necessarily reflect the views of any individual or organization. Please address all inquiries to: Philippine Institute for Development Studies 18th Floor, Three Cyberpod Centris - North Tower EDSA corner Quezon Avenue, 1100 Quezon City Telephone: (63-2) 88774000 Fax: (63-2) 88774099 E-mail: [email protected] Website: https://www.pids.gov.ph This volume is published annually and is under the Creative Commons Attribution Noncommercial License. It shall not be used for commercial purposes. Anyone can use, reuse, distribute, and build upon this material as long as proper attribution is made. ISSN 2546-1761 RP 04-21-600 Editorial and production team: Sheila Siar (editor), Gizelle Manuel (assistant copyeditor), Maryam Tubio (layout artist), and Jocelyn
    [Show full text]
  • Philippine Economic Update Pursuing Inclusive Growth Through Sustainable Reconstruction and Job Creation
    Report No. 83315-PH Public Disclosure Authorized PHILIPPINE ECONOMIC UPDATE PURSUING INCLUSIVE GROWTH THROUGH SUSTAINABLE RECONSTRUCTION AND JOB CREATION Public Disclosure Authorized March 2014 Poverty Reduction and Economic Management Unit Philippine Country Office East Asia and Pacific Region Public Disclosure Authorized Public Disclosure Authorized Document of the World Bank 1 PREFACE The Philippine Economic Update provides an update on key economic and social developments, and policies over the past six months. It also presents findings from recent World Bank studies on the Philippines. It places them in a longer term and global context, and assesses the implications of these developments and policies on the outlook for the Philippines. Its coverage ranges from the macro-economy and financial markets to indicators of human welfare and development. It is intended for a wide audience, including policymakers, business leaders, financial market participants, and the community of analysts and professionals engaged in the Philippines. The Philippine Economic Update is a report of the World Bank’s Philippine Poverty Reduction and Economic Management (PREM) team. It was prepared by Karl Kendrick Chua (Senior Country Economist and Task Team Leader), Paul Mariano (Research Analyst and Co-Task Team Leader), Kai Kaiser (Senior Economist), Amelia Johnston (Economist), Joseph Louie Limkin (Research Analyst), Kevin Cruz (Research Assistant), and Anthony Sabarillo (Junior Research Assistant) under the guidance of Rogier van den Brink (Lead Economist). Secretarial and publication support by Maria Consuelo Sy (Program Assistant) and Ayleen Ang (Team Assistant) are gratefully acknowledged. The sections on Typhoon Yolanda were contributed by a diverse group of individuals from the Philippine Country Management Unit, the East Asia Poverty Reduction and Economic Management Unit, Human Development Unit, and the Sustainable Development Unit.
    [Show full text]
  • Megawide Plans to Begin Redevelopment in Early 2021
    CEBU“Radiating positivity, creating connectivity” BUSINESS Room 310-A, 3rd floor WDC Bldg. Osmeña Blvd., Cebu City WEEK You may visit Cebu Business Week Facebook page. October 26 - November 1, 2020 Volume 2, Series 58 www.cebubusinessweek.com 12 PAGES P15.00 CARBON PROJECT TO REVIVE CEBU Megawide plans to begin redevelopment in early 2021 MEGAWIDE Construc- on March 9, 2020. By: ELIAS O. BAQUERO as a joint venture between City Check-in. tion Corporation will start “The Carbon Market and the Local Government Unit He said the proposed de- the redevelopment of the its adjoining districts are opment will certainly open (LGU) and Megawide, the velopment will also feature a Carbon Market area by the some of the most econom- more jobs and facilitate ease proposal seeks to redevelop waterfront plaza, a 24/7 mar- first quarter of 2021 once theically and culturally signif- of business for our vendors Carbon Market into a shop- ket, and the Sto. Niño Chapel Cebu City Government will icant locations in all Cebu. and suppliers,” Ferrer said. ping and cultural district that and Park. sign the Joint Venture Agree- With our proposal, we hope On the other hand, Tor- uplifts the quality of experi - Ferrer said that in phase ment (JVA). The project is to help jumpstart the recov- res said that this project will ence for all stakeholders like 1, they aim to deliver the new seen to help revive Cebu’s ery of Cebu’s economy after promote its vision of a First- vendors, business owners, and improved public market once vibrant economy.
    [Show full text]
  • KARL KENDRICK T. CHUA Secretary National Economic and Development Authority
    KARL KENDRICK T. CHUA Secretary National Economic and Development Authority Karl Kendrick T. Chua started his career as a system analyst with Accenture (Andersen Consulting) from 2000 to 2002. In 2004, he began teaching mathematics and economics at his alma mater, Ateneo de Manila, a year after completing his Master of Economics at the University of the Philippines. He was then hired as a research analyst for the World Bank Group in 2005 and resigned from his teaching job when he was promoted as its country economist for the Philippines in 2008. As an economist for World Bank, Chua spent a year and half in different places in Mindanao, including Marawi and Tawi-Tawi, where he led a team of researchers conducting a comprehensive jobs report on the impoverished island region. He served as a World Bank Senior Economist from 2012 until his resignation to join government service in September 2016. Chua was sworn in as Undersecretary for the Strategy, Economics and Results Group of the Department of Finance on September 29, 2016. As Finance undersecretary, he served as strategic adviser to Secretary Carlos Dominguez III and President Duterte's cabinet economic development cluster. In 2017, Chua was frequently seen participating in congressional deliberations on the administration's comprehensive tax reform bill which aimed to decrease personal income taxes and introduce higher consumption taxes to support the government's Build! Build! Build program. He was described as the "poster boy of tax reform" by several media outlets and was instrumental in the passage of the Tax Reform for Acceleration and Inclusion Act (TRAIN) in December 2017.
    [Show full text]
  • The Future” Column in the INQUIRER
    Volume 7 Issue No. 09 map.org.ph March 2, 2021 “MAPping the Future” Column in the INQUIRER The SGV - MAP NextGen CEO Transformative Leadership Program March 1, 2021 Mr. AURELIO “Gigi” R. MONTINOLA III On behalf of the Management Association of the Philippines (MAP), I would like to thank SGV (SyCip Gorres Velayo & Company) for being our Knowledge Partner for the very first MAP NextGen Conference last November 20, 2020 and our forthcoming second MAP NextGen Conference on November 12, 2021. As the Knowledge Partner, SGV has agreed to conduct the “SGV - MAP NextGen CEO Transformative Leadership Program.” In this regard, we are all virtually gathered together for an opening Kick-Off ceremony for a pioneering 12-month interactive leadership program. Fifteen (15) MAP NextGen members have been carefully selected to join this program to improve their leadership skills and help them reframe the future of their companies. Allow me a few words to welcome our 15 Participants and our Knowledge Partner SGV. Dear NextGen Participants and Future Thought Leaders of the Country: I returned at age 29 to Manila in 1980 after 5 years of international Graduate School and overseas work experience with an international bank to start a career in the Philippines. Little did I know that the Philippines would be going rapidly economically downhill during the next 5 years of Martial Law, that I would join a local bank (BPI), that Ninoy Aquino would be assassinated, and that I would have my first taste of a severe economic crisis where the country would plead for an international debt moratorium, inflation and Interest rates would hit 50-60% per annum, and foreign exchange of even $10,000 had to be rationed out.
    [Show full text]
  • Economic Team Urges No More Lockdowns About:Reader?Url=
    Economic team urges no more lockdowns about:reader?url=https://business.inquirer.net/309432/economic-team-... business.inquirer.net Economic team urges no more lockdowns Ben O. de Vera 3-4 minutes The Philippines cannot revert to stringent COVID-19 lockdown if it wants to save jobs and lift more people out of poverty post- pandemic, economic managers said, adding that the two weeks of stricter quarantine in Metro Manila and four neighboring provinces last month weighed on infrastructure spending and foreign trade. Finance Secretary Carlos Dominguez III on Monday said the economic team had repeatedly warned about the impact of lockdowns—which also resulted in millions of job losses —on poverty incidence. Acting Socioeconomic Planning Secretary Karl Kendrick Chua earlier flagged a temporary increase in urban poverty amid the pandemic. On Monday, the Department of Budget and Management (DBM) reported that public infrastructure spending fell 25.4 percent year-on-year to P44.3 billion in August mainly due to “unintended delays in construction activities as a result of the rainy season and the implementation of the two-week modified enhanced community quarantine in the National Capital Region and nearby regions” after COVID-19 cases surged. 1 of 3 10/28/2020, 3:40 pm Economic team urges no more lockdowns about:reader?url=https://business.inquirer.net/309432/economic-team-... From January to August, expenditures on infrastructure and other capital outlays declined 11.5 percent to P394.5 billion from P445.9 billion a year ago, no thanks to “the moderated implementation of construction activities as a result of the lockdowns and restrictions brought about by the pandemic,” the DBM said.
    [Show full text]
  • Balikatan Reinforces Philippine Dependence on US Amid China Aggression by CONSUELO MARQUEZ, GMA News
    Today’s News 14 April 2021 (Wednesday) A. NAVY NEWS/COVID NEWS/PHOTOS Title Writer Newspaper Page PH expects 20M doses from Russia`s K Calayag M Times A2 1 Gamaleya Pagtaaas pa ng COVID-19 cases asahan sa M Escudero B Ngay 2 Hunyo o Hulyo Marina no control on vax, No contract R Ayeng D tribune D24 3 “No ’ policy B. NATIONAL HEADLINES Title Writer Newspaper Page J Clapano P Star 1 4 Gov’t to public: Brace for midyear COVID surge PH in a bind, experts warn; Chinese envoy J Andrade PDI A1 5 summoned C. NATIONAL SECURITY Title Writer Newspaper Page 6 DFA summons Chinese envoy over lingering P Brago P Star 2 boats 7 DFA summons Chinese envoy over WPS S Locus D Tribune A3 8 PH summons Chinese envoy over vessels in A Hachero Malaya A10 disputed waters 9 China envoy summoned E Santos P Journal 2 10 DFA summons Chinese envoy P Tonight 6 11 DFA ipinatawag ang Chinese envoy sa isyu G Garcia Ngayon 2 ng vessels sa West Phl Sea 12 Chinese envoy, pagpapaliwanagin ng DFA G Garcia PM 2 sa presensya ng Chinese sa Julian Felipe Reef 13 PH boosts patrols in disputed sea Bloomberg M Bulletin 1 D. INDO-PACIFIC Title Writer Newspaper Page China`s exports rise at robust pace, imports Reuters B Malaya A2 14 growth highest in 4 years E. AFP RELATED Title Writer Newspaper Page Duterte: Military would have ousted me if I L Salaverria PDI A2 15 were inutile 16 Rody talks to Putin; Sputnik V coming C Mendez P Star 1 Du30, Putin talk vaccines; PH orders 20M L Salaverria PDI A3 17 Sputnik V shots 18 Cash aid pay-out slow at 8% V Reyes Malaya A12 19 Sibugay towns under close watch N Lacson D Tribune B16 20 Soldier, civilian hurt in Basilan IED blast Z Capistrano Tempo 3 F.
    [Show full text]
  • The Political Economy of Public Administration Reforms in Southeast Asia
    Political Science The Political Economy of Public Administration Reforms in Southeast Asia: A Comparative Analysis of the Tax Administration in Indonesia and the Philippines Dissertation for the degree of Doctor of Philosophy granted by the Department of Social Sciences Faculty of Economics and Social Sciences University of Hamburg submitted by Nina Korte Hamburg 2013 First Examiner: PD Dr. Andreas Ufen Second Examiner: Prof. Dr. Joachim Betz Place and Date of Defence: Hamburg, January 28 th , 2014 i Abstract Within the last decade, scholars and practitioners have increasingly discussed domestic resource mobilization as a development financing tool. Revenues from domestic sources are regarded as more stable than resources derived from world capital markets. Moreover, taxes are ascribed a positive impact on state building and good governance. In most developing and transition countries, so far, the tax ratio has been lower than the internationally advocated twenty percent of their gross domestic product. Within this context, research on taxation in developing countries has grown, and efforts to improve tax systems have proliferated globally. Strong interest and rhetoric on enhancing domestic resource mobilization however does not necessarily translate into more effective and efficient, equitable and impartial tax systems as previous experience has shown. The reasons accounting for low tax efforts and for the relative success and failure of tax reforms in many countries have remained under-researched. This has been particularly true for countries in Asia, Central Asia and the Middle East. This study contributes to this research gap by a comparative political economy analysis of the Indonesian and Philippine cases. The study focuses on the tax administration reforms of the years 2002 to 2010.
    [Show full text]
  • April 29, 2020 - 12:00Am Help-Host-Communities
    UPPE PAGE BANNE EDITORI CARTOO 1 R AL N STORY STORY PAG LOWE Strategic Communication 1/1 29 April 2020 and Initiatives Service Page Date CV mining firms extend assistance to communities affected by pandemic By: Irene R. Sino Cruz - CDN Digital Correspondent|April 28,2020 - 08:54 PM https://cebudailynews.inquirer.net/306161/cv-mining-firms-extend-assistance-to-communities-affected-by-pandemic CEBU CITY, Philippines — Mining companies in Central Visayas have extended assistance to communities affected by the coronavirus disease 2019 (COVID-19) using the 2019 unspent Social Development and Management Program (SDMP) funds. The SDMP funds amounting to P21 million was realigned after the Mines and Geosciences Bureau (MGB) issued a memorandum on April 1, 2020, which authorized regional directors to approve this action. The decision was made to allow the mining companies to support affected impact and non-impact communities from the pandemic, according to a press release from the MGB-7. The Community Development Program (CDP) can also be realigned following the same guidelines. Carmen Copper Corporation (CCC) in Toledo City, Cebu realigned its SDMP funds to purchase food packs for the households in its host and neighboring communities. The company allotted P16 million for the 8,000 households in 17 barangays in Toledo City. The beneficiaries include households with persons with disabilities, wage earners, and frontliners. “A lot of changes have already occurred. As we move forward, there will be changes in the manner we do things. But there is one thing constant, the imperative of unity. This is the time to be one.
    [Show full text]