THE STRONG economic rebound expected by the Asia-Pacific Economic Cooperation (APEC) bloc this year is facing downward pressure due to the rising case counts in many countries, APEC said in a report. In its Regional Trends Analysis paper released Thursday, APEC’s Policy Support Unit raised its gross domestic product (GDP) forecast for the region to 6.3% from the 5.7% estimate ...

THE GROWTH in retail prices of construction materials in the National Capital Region (NCR) picked up in April, the Philippine Statistics Authority (PSA) said Thursday. The PSA reported that the NCR’s construction materials retail price index rose 1.3% year on year in April, against growth of 1.2% in March. The growth recorded in April was the highest in four months ...

A CONSUMER advocacy group is asking the government to prevent companies from passing on costs incurred from import duties on key goods to consumers. Laban Konsyumer, Inc. (LKI) in a statement on Thursday said the organization submitted letters to Congress requesting for the prevention of the transfer of indirect taxes placed on businesses to consumers. These taxes include safeguard and ...

THE Department of Energy (DoE), the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BoC) signed an agreement Thursday to put more teeth in the effort to curb fuel smuggling, centered on information-sharing in oil and petroleum trading. “It is high time to make use of available information from each agency to build a better understanding of the ...

Food consumption in the Philippines has been resilient during the pandemic, with consumers buying more per market trip to maximize the goods purchased during their shopping trips, a Century Pacific Food official said. “In terms of basket size, consumers buy a lot more here compared to pre-pandemic,” Century Pacific Food Inc. Executive Vice President and Chief Operations Officer Gregory H. Banzon said ...

In our column two weeks ago, “Imminent existential threat, or outright fiscal meltdown?” (BusinessWorld, May 14, 2021) we indicated that unless the military and uniformed personnel pension system is overhauled, the sponsor of the bill, Albay Rep. Joey Salceda underestimated its outcome. It’s not just an existential threat, but rather an outright fiscal meltdown. There is another fiscal downside risk ...

House of Representatives Deputy Speaker Bienvenido Abante has urged the Department of Education (DepEd) to include voter education in the secondary school curriculum in addition to its urging the qualified — those 18 years old and above by Election Day — to vote. He was thinking of 2022. But educating voters should not be a priority just because the national ...

FREEPIK BY THE END of May 2021, only 2.1% of Africans have received at least one dose of a COVID-19 vaccine. We need to close the vaccination gap between advanced economies and developing countries to avoid what Tedros Ghebreyesus, head of the World Health Organization (WHO), has called “vaccination apartheid.” Doing so is both morally right and in everyone’s interest. ...

ERIC LI’s factory making glass lampshades for companies including Home Depot, Inc. is being stretched to its limits with sales doubling their pre-pandemic level. But like many Chinese manufacturers, he doesn’t plan to expand operations — a reticence that could slow the pace of China’s economic growth this year and prolong a shortage of goods being felt around the world ...

THERE is now a 40% chance that global temperatures will temporarily reach 1.5 degrees Celsius above pre-industrial levels in the next five years — and these odds are rising, a U.N. report said on Wednesday. This does not yet mean that the world would already be crossing the long-term warming 1.5-degree threshold set by the Paris Climate Accord, which scientists ...