Grand Lotto prize to reach P630 million
MANILA, Philippines — The jackpot of the Grand Lotto 6/55 is estimated to reach P630 million in tonight’s draw, the Philippine Charity Sweepstakes Office (PCSO) said yesterday.
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December inflation cools to 3.9%, but average FY23 inflation finished at 6%
The Philippine Statistics Authority (PSA) [link] reported that December inflation cooled to 3.9% y/y. While this monthly result is within the government’s target range of 2% to 4%, the average inflation for the full year was significantly outside of that target band at 6%. The PSA said that the lower inflation rate in December was driven by slower price increases in housing and essential utilities like water, fuel, and power. According to the National Economic and Development Authority (NEDA), the increase in the price of rice was still the “most significant contributor” to the December inflation result. NEDA said that additional short-term relief measures will be considered to complement its medium-term goal of boosting agricultural productivity.MB BOTTOM-LINE: The giddy calls for a Q1 US Federal Reserve pivot from tightening (raising rates) to loosening (cutting rates) have given way to the post-New Year’s hangover reality that rates there are likely to remain level for some time before coming back down, and I hear a similar hesitancy from the BSP and our country’s economic managers to take their knee off of inflation’s neck too quickly. That said, the BSP’s Governor, Eli Remolona, said that it had been “intervening a bit too much” in the foreign exchange markets to support the Philippine Peso’s value relative to the US Dollar, and signaled that the BSP would move toward a “less managed” framework for foreign exchange interventions. Mr. Remolona had previously committed to defending the ?57:$1 “psychological” line, but now appears open to allowing the exchange rate to drift a bit further afield. It’s worth watching for companies that still carry a heavy amount of debt denominated in US Dollars.
32,246 PWDs, 31 centenarians, receive financial aid from BARMM in 2023
COTABATO CITY — At least 32,246 persons with disability received an initial P6,000 grant each from the Bangsamoro region’s Ministry of Social Services and Development in 2023.
P20.7 million shabu seized in Mandaue
MANILA, Philippines — Anti-narcotics operatives seized more than three kilos of shabu valued at P20.7 million in Mandaue City, Cebu yesterday.
Inflation news lifts PSEi but peso falls
INFLATION's return to target last month lifted share prices but not the peso on Friday.
'Ramdam mo ba?': Inflation bumagal sa 3.9% dahil sa kuryente, gas, tubig | Pilipino Star Ngayon
MANILA, Philippines — Lalong bumagal ang pagtaas ng presyo ng bilihin sa pagtatapos ng Disyembre — ang "pinakamababang inflation rate sa kabuuan ng taong 2023", ayon sa Philippine Statistics Authority.
P10.41B illegal drugs seized last year: PNP
THE Marcos government seized around P10.41 billion worth of illegal drugs from January to December 2023 and cleared more than 27,000 barangays of illegal drugs, a PNP report to President Marcos Jr. revealed.
Angat Dam water release stopped
MANILA, Philippines — Water release from Angat Dam was terminated yesterday as rainfall in its watershed stopped.