EURO-PH NEWS

European Parliament Press Kit for the European Council of 27 and 28 June 2024 

A selection of the European Parliament’s press releases reflecting the Members of the European Parliament’s (MEP) priorities for topics on the summit agenda.

DOH receives emergency operations equipment from EU, WHO 

The DOH recently received Emergency Operation Center (EOC) Information and Communications Technology (ICT) equipment worth Php 4.8 million from the EU and the WHO Philippines to enable the DOH to provide efficient and effective response to public health emergencies or disasters and help ensure continuity of health services delivery during crises.

Secretary-General of ASEAN meets with the European Union Heads of Missions based in Jakarta 

Secretary-General of ASEAN, Dr. Kao Kim Hourn, participated in the EU Heads of Missions Meeting as a special guest at the Mission of the EU to ASEAN. During the meeting, Dr. Kao delivered remarks on the future direction of the ASEAN-EU Strategic Partnership and exchanged views with the EU Heads of Missions based in Jakarta on ASEAN’s key priorities as well as emerging regional and global issues that are of common interest to both ASEAN and the EU.

FEATURED ARTICLES

Biz groups ask Villar: Split PPA’s functions 

ELEVEN Philippine business groups (PBGs) have called on Senator Mark Villar, chairperson of the Senate Committee on Government Corporations and Public Enterprises, to file and hear a counterpart Senate bill to House Bills 1400 and 8055, which separate the commercial and regulatory functions of the Philippine Ports Authority. 

LEDAC eyes approval of 28 priority bills by June 2025

At least five new bills have been added to the Marcos administration’s list of priority legislation expected to be approved by Congress before June 2025, including proposals to allow foreign investors to lease land for up to 99 years and amend a 2019 law that liberalized the rice sector.   

NEDA approves public broadband network project

The National Economic and Development Authority (NEDA) Board has approved the country's flagship digital infrastructure project, the Philippine Digital Infrastructure Project (PDIP), which is a public broadband network expected to bring high-speed internet connection to far-flung areas.

DBCC keeps growth targets until 2028 despite external headwinds

Economic managers on Thursday retained their growth targets for this year until 2028 despite external headwinds. The Development Budget Coordination Committee (DBCC), which sets official macroeconomic assumptions and fiscal program, maintained its Philippine GDP growth target at 6-7% this year, and at 6.5-7.5% in 2025.

Palace propose P6.352 trillion 2025 budget

The Marcos administration is proposing another record budget of P6.352 trillion for 2025 as the government moves to finance its priority programs and achieve its macroeconomic targets. The record budget level proposed for next year is 10.1 percent above this year’s allocation of P5.768 trillion.

Gov’t raises P15 billion from T-bill auction

The government was able to fully raise its planned amount of short-term local borrowings during Tuesday’s sale of Treasury bills (T-bills) ahead of the Monetary board policy review as the market expects the central bank to keep its key rates.

BSP rate cuts unlikely this year — ANZ

There is no room for the BSP to cut rates this year as inflation may still potentially breach the target, ANZ Research said. BSP Governor Eli M. Remolona, Jr. has signaled that policy easing could begin as early as August. However, ANZ said it expects the BSP to begin easing with a 50-basis-point (bp) rate cut in March next year.

AI, education pressing issues for employers – ECOP

Artificial intelligence or AI and the quality of education in the Philippines are pressing issues that the government must address, according to the Employers Confederation of the Philippines (ECOP). Using AI in the workplace, picking an experienced education secretary, and wage hikes must be discussed, ECOP president Sergio Ortiz-Luis Jr. told reporters yesterday on the sidelines of the 45th National Conference of Employers.

8,980 Makati residents get free chemotherapy sessions

Up to 8,980 cancer patients have received free chemotherapy sessions at the Ospital ng Makati since 2020, Mayor Abby Binay reported on Monday. Binay said offering support for cancer patients is part of the city’s healthcare initiative Yellow Card program.

DA to streamline processes to bring down food costs

The Department of Agriculture (DA) is streamlining its regulatory processes as part of its efforts to reduce food costs and create a policy environment that would attract investors to the agriculture sector. Agriculture Undersecretary Asis Perez said the department is on track to implement various changes in its regulations, policies and processes next year aimed at fast-tracking its procedures.

SMC to build P323 billion new tollways in Luzon

Diversified conglomerate San Miguel Corp. (SMC) is on track to start within the next 12 months the construction of over P300 billion in tollways that will improve mobility around Luzon.

Metro Pacific Water, French firm to build desalination plant in Iloilo

Metropac Water Investments Corp. (Metro Pacific Water) said it is working with France-based water and waste management solutions provider Suez for the construction of a desalination plant in Iloilo City. The companies recently signed an agreement to build a desalination plant that can produce 66.5 million liters per day of water, Metro Pacific Water said in a statement.

Philippines’ current account deficit seen to further narrow this year

The Philippines’ current account deficit is seen narrowing further this year amid a more positive global outlook, Fitch Solutions’ unit BMI said. In a report dated June 25, BMI lowered its current account deficit forecast to 2.3% of GDP from 2.8% previously. This is narrower than last year’s current account deficit which stood at 2.6% of GDP, but wider than the average of -0.4% from 2015-2019.

Yields on term deposits end mixed

Yields on the BSP’s term deposits were mixed on Wednesday as the market looked ahead to the Monetary Board’s policy decision on Thursday. The central bank’s term deposit facility (TDF) attracted bids amounting to P207.107 billion on Wednesday, above the P200 billion on the auction block but lower than the P212.412 billion seen a week ago for a P180-billion offer.

Marcos reserves Tondo lot for DHSUD projects

President Marcos has declared a portion of land in Tondo, Manila for ownership and development by the Department of Human Settlements and Urban Development for the government’s socialized housing program. The Marcos administration aims to build one million houses per year or six million by the end of 2028.

P12 billion aid to rice farmers out by September

The Department of Agriculture has committed to complete the distribution of P12 billion in cash assistance to rice farmers by September. The amount is part of the nearly P20-billion excess tariffs collected by the government last year from 3.6 million metric tons of rice imports.

PHL must strive more to fulfill FDI pledges

Realizing foreign direct investment (FDI) pledges, including those amassed by the President in his state visits abroad, entails more work for the Philippines. In its latest brief, Global Source Partners Country Analysts Diwa Guinigundo and Wilhelmina Manalac said the country needs to address human capital development, infrastructure and power, among others, before it can boost FDI.

NCR wage increase likely in July, says Labor chief

A wage increase in the Philippine capital and nearby cities is likely in July, based on past decisions by the regional wage board, according to the country’s Labor chief.

NCR businesses see EoDB, power, traffic as major concerns

The NCR chapter of the Philippine Chamber of Commerce and Industry (PCCI) said the main challenges to its members are ease of doing business, power, and road congestion. The issues were raised at a news conference on Wednesday launching the 2024 Metro Manila Business Conference, which will take place on Aug. 21–22.

DA to allow 200,000 MT of refined sugar imports

The Department of Agriculture said it is planning to allow imports of around 200,000 metric tons of refined sugar to fill a projected supply gap during the off-milling season.

NG budget gap widens in May

The National Government’s (NG) budget deficit widened in May as spending growth outpaced revenues, the Bureau of the Treasury said. The NG’s budget gap ballooned by 43.1% to P174.9 billion in May from P122.2 billion in the same month a year ago.

Palawan, Boracay among ‘Best Islands in Asia-Pacific’

Two popular beach spots in the Philippines entered the list of the “best islands in Asia Pacific” drawn up by a foreign travel website. Palawan and Boracay were included in this year’s Best Islands in Asia Pacific category of the Luxury Awards 2024 by Travel + Leisure Asia. Palawan ranked third and Boracay fourth this year, according to the list.

CHR lauds Quezon City’s green camp project

The Commission on Human Rights yesterday lauded the Quezon City government for partnering with the local police for the development of the first-ever “green camp” in Metro Manila. The project is part of the city government’s “One Million Trees Initiative,” which is in line with its overall goal of shifting toward a green, resilient and sustainable city.

LTO, Baguio ink traffic system connectivity agreement

The LTO has signed an agreement with the city government of Baguio for the digital connectivity of the traffic system to promote road safety. The agreement allows the LTO to link its data to the system of the city government for a smooth enforcement of traffic rules and regulations. LTO chief Vigor Mendoza said this would be the first interlink between the agency and a local government unit (LGU).