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Cash remittances hit $2.38 billion in November, up 0.3 percent

ABS-CBN News
Posted at Jan 14 05:57 PM

Cash remittances from overseas Filipinos rose 0.3 percent to $2.379 billion in November last year, the Bangko Sentral ng Pilipinas said on Thursday.    Read more »

DILG says 500k signatures, LGU resos backing Cha-cha submitted to House panel

ABS-CBN News
Updated as of Jan 13 05:50 PM

The Department of the Interior and Local Government (DILG) said it submitted Wednesday to a House panel some 555,0000 signatures and resolutions from local governments supposedly supporting the move to amend portions of the 1987 Constitution. Read more »

Palace says to 'disprove' that Philippines will lag in COVID-19 recovery

Jamaine Punzalan, ABS-CBN News
Posted at Jan 07 05:01 PM

Malacañang said on Thursday it would "disprove" a debt watcher's forecast that the Philippines would be among the last in Asia-Pacific to recover from the economic recession that the COVID-19 pandemic caused. Read more »

Pasig says at least 5 pct of registered businesses in city closed in 2020

ABS-CBN News
Posted at Jan 06 11:55 AM

At least 5 percent of registered businesses in Pasig City closed in 2020 due to the disruptions caused by the COVID-19 pandemic, Mayor Vico Sotto said Wednesday.   Read more »

Duterte signs law to fast-track permits, licenses

ABS-CBN News
Updated as of Jan 05 12:38 PM

President Rodrigo Duterte has approved a law that gives him special powers to fast-track the issuance of permits, licenses and certifications in times of national emergency like the COVID-19 pandemic. Read more »

Pasig opens new one stop shop for business permits

ABS-CBN News
Posted at Jan 04 04:43 PM

Pasig has opened its second one stop shop that aims to boost the city's economy following a slump caused by the COVID-19 pandemic, Mayor Vico Sotto said on Monday. Read more »

Remittance resurgence a tonic but no cure for sickly emerging economies

Tom Arnold, Reuters
Posted at Dec 22 09:31 AM

Larger-than-expected money transfers from migrants overseas have provided a tonic for several sickly economies during the coronavirus crisis, but the outlook for such flows remains fraught with uncertainty even as vaccines are rolled out. Read more »

China leaves lending benchmark unchanged but rate hike expectations grow

Reuters
Posted at Dec 21 03:06 PM

The one-year loan prime rate was kept at 3.85 percent, while the five-year LPR remained at 4.65 percent. The rates have been unchanged for eight straight months. Read more »

New Zealand rebounds from recession with record GDP growth

Kyodo News
Posted at Dec 17 04:44 PM

New Zealand's economy grew a record 14.0 percent in the July-September quarter from the previous quarter, bringing the country out of its first recession in almost 10 years, official data showed Thursday. Read more »

THE DAY IN PHOTOS: December 11, 2020

ABS-CBN News
Posted at Dec 11 11:58 PM

Here are the big stories today in photos. Read more »

A bad year even for Santa?

Luca Bruno, AP
Posted at Dec 11 09:35 AM

A homeless man wears a Santa Claus outfit as he prepares to have dinner by the side of a road, in Milan, Italy. Read more »

PH debt breaches P10-T mark in end-October

ABS-CBN News
Updated as of Dec 04 04:38 PM

The national government's total outstanding debt reached P10.03 trillion at the end of October, the Bureau of Treasury said on Friday. Read more »

Remittances defy bleak forecasts, may still grow this year despite pandemic: industry player

Art Fuentes, ABS-CBN News
Posted at Dec 03 05:05 PM

WorldRemit said that despite bleak projections months ago, remittances have been actually rising in the last few months. Read more »

Jobless Filipinos reach 3.8 million in October

ABS-CBN News
Updated as of Dec 03 11:12 AM

There were 3.8 million adult Filipinos who were jobless as of October, representing an unemployment rate of 8.7 percent, the state statistics agency said on Thursday as the economy reopened further after sinking deeper into recession in the third quarter.  Read more »

COVID-19 worsens Europe's inequalities in yet another way - the fertility gap

Catarina Demony and Gavin Jones, Reuters
Posted at Dec 01 05:18 PM

Evidence suggests the coronavirus is deterring would-be parents from conceiving in most of Europe, but especially in the southern countries - from Italy to Greece - where safety nets are weakest and the birth rate was already in strong decline.   Read more »

PH suffers at least P3.3 trillion in economic loss this year due to pandemic, typhoons - solon

Ron Calunsod, ABS-CBN News
Updated as of Nov 29 07:46 PM

The Philippine economy started suffered a setback as early as the first quarter due to the eruption of Taal Volcano, said Marikina City 2nd District Rep. Stella Quimbo, who filed the proposed “Bayanihan to Arise as One Act” or Bayanihan 3 bill. Read more »

DOLE says to distribute P13 billion Bayanihan 2 cash aid to workers

Jamaine Punzalan, ABS-CBN News
Updated as of Oct 30 10:03 PM

The Department of Labor and Employment said Friday it would distribute P13 billion in cash aid to workers grappling with the coronavirus pandemic.  Read more »

Boracay is now open

AFP
Posted at Oct 02 09:56 AM

A resident wearing a face mask walks along a beach in Boracay on Thursday, the first day of the opening of the island to tourists during the COVID-19 pandemic. Read more »

France says COVID-19 crisis 'worsening', aims to avoid lockdown

Stuart Williams and Joseph Schmid, Agence France-Presse
Posted at Sep 12 03:27 PM

French Prime Minister Jean Castex warned Friday the country was seeing a "clear worsening" of the coronavirus pandemic, but aimed to avoid a new nationwide lockdown that would hammer the economy.   Read more »

Virus plunges Brazil into recession with record 9.7 percent drop

Agence France-Presse
Posted at Sep 01 08:50 PM

Brazil's economy, the biggest in Latin America, contracted by a record 9.7 percent in the second quarter of 2020, plunging into recession as coronavirus lockdowns hit home, the official statistics agency said Tuesday. Read more »