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MANILA, Philippines — The public utility vehicle modernization program’s franchise consolidation deadline will not be extended despite a Senate resolution calling for the suspension of the PUVMP implementation, according to the Land Transportation Franchising and Regulatory Board (LTFRB).
MANILA, Philippines — The Department of Agriculture (DA) has given assurance that pork supply is adequate amid fresh outbreaks of African swine fever (ASF) in four areas in Batangas.
> PH: Today is the deadline for Metro Global Holdings [MGH suspended] to comply with the PSE’s minimum public ownership threshold. If MGH fails to raise its public float above 10% (EDGE says it’s at 8.67% as of this writing), then the PSE said that it will be “automatically delisted.” Tomorrow (Tuesday) we’ll hear from the Philippine Statistics Authority (PSA) about the Consumer Price Index data it collected for July, and we’ll get the inflation rate that it will calculate based on that data. Then, on Thursday, the PSA will be back at it again with its report on our Q2 Gross Domestic Product data, which will give policymakers a better idea of the health of our economy.> International: Aside from watching how the US markets deal with Friday’s flash-crash and weak jobs report, I’ll be paying particular attention to the US Initial Jobless Claims report that will come out on Thursday (Friday morning our time). MB BOTTOM-LINE: The high-level context to what is happening in the US is that a recent employment/jobs report showed an unexpected level of weakness, prompting investors to consider the increased possibility that the US economy could be heading into a recession. A recession is at least two consecutive quarters of negative GDP growth. The US Federal Reserve’s argument across the entirety of this inflation battle has been that a “soft landing” is possible where the “higher for longer” interest rates used by the Fed to combat inflation are carefully calculated so as to bring inflation back down into the target band while also not triggering a recession. Interest rates suppress economic activity purposefully to reduce demand inflation, but suppress that activity too much and you get negative economic growth and a period where businesses pull back on hiring and spending. Did the Fed wait too long to pivot? That’s the open question, and that’s what will be percolating in the background as we get our critical economic data from the PSA this week ahead of the BSP’s meeting to make its own decision on our interest rate late next week.
MANILA, Philippines — The southwest monsoon on Monday, August 5 is likely to trigger rains and thunderstorms in several parts of the country while a low-pressure area is within the Philippine area of responsibility.
MANILA, Philippines — The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) yesterday said it is monitoring a low-pressure area (LPA) in extreme Northern Luzon.
THE Court of Appeals has upheld its December 2023 ruling finding former Metro Manila police chief Samuel Pagdilao liable for simple neglect of duty over the general’s supposed failure to curb the proliferation of illegal drugs.
MANILA, Philippines — Visayas and Mindanao may likely experience rain showers on Sunday due to the southwest monsoon, locally known as habagat, state weather bureau PAGASA said.
Our flooding problem needs to be fixed. We just spent the last week-and-a-half going all over Metro Manila and nearby provinces distributing relief goods. I really want to thank all the volunteers, government workers, medical professionals and frontliners who came to help their fellow Filipinos in need, despite being victims themselves. This is truly the spirit of bayanihan, but this isn’t sustainable. Our resilience is unparalleled but what we need are reforms.