The investment banking arm of the Metrobank Group expects the Philippine economy to recover with a growth of 5 to 6 percent by the end of the year, reversing the 9.6-percent contraction in 2020 amid the pandemic. The First Metro Investment Corporation (FMIC) sees the faster global economic recovery, accelerated vaccine mobilization, sustained supportive fiscal and monetary policies, and the government’s commitment to push infrastructure projects fueling this year’s growth. “Our dependable and resilient OFW (overseas Filipino workers) remittances, which grew 13 percent year-on-year in April this year, and BPO (business process outsourcing) services are anticipated to perform even better.

The National Police Commission’s (Napolcom) move to sanction 166 erring police officers proves that the police force is relentless in its internal cleansing efforts, the country’s top cop said on Wednesday. “These 166 police scalawags who were sanctioned are proof that the police organization does not tolerate any wrongdoing or criminal involvement of our men. Lalo na sa Napolcom, hindi nila ito palalagpasin. Patunay lamang na gumagana ang mekanismo ng PNP sa pagdidisiplina sa ating kapulisan (The Napolcom will not let them get away with their misdeeds. This only proves that the PNP’s mechanism in disciplining cops is working),” said

Further push for the eventual approval of the other tax reform measures of the Duterte administration is expected following Fitch Ratings’ decision to downgrade its outlook on the country’s investment grade rating. During the company’s virtual briefing on Wednesday, First Metro Investment Corporation (FMIC) research head and first vice president Cristina Ulang said reform measures, not just government spending, are among the factors for Fitch Ratings’ move to change its outlook on the country’s BBB rating from stable to negative. She is referring to the proposed Passive Income and Financial Intermediary Taxation Act (PIFITA) and the property taxes, which are

Provinces and highly urbanized cities of Western Visayas (Region 6) have appealed for their current quarantine status to be retained until the end of this month instead of being elevated to a stricter classification. “The LCES (local chief executives) submitted their appeals to maintain status quo of the current quarantine classification instead of the escalated ones provided by the IATF (Inter-Agency Task Force) for consideration,” Christian Nagaynay, the head secretariat of the Western Visayas Regional Inter-Agency Task Force (RIATF 6), said in an interview Wednesday. Nagaynay said the RIATF 6 and the Regional Task Force (RTF) Against Covid-19 convened together

The city government here has found it necessary to adopt the Safety Seal Certification Program as part of the “new normal” in the conduct of business and trade in this highly urbanized city. “As more businesses are now slated to open to boost the economy, especially in the event the quarantine classifications are downgraded anew, the Safety Seal certification program is a practice program to boost consumer confidence in businesses,” said Mayor Jerry P. Treñas in his Executive Order (EO) 60 signed on July 13 and released on Wednesday. With the adoption of the certification program, the mayor ordered the

Skyway O&M, operator of the Skyway system and a unit under San Miguel Corporation’s (SMC) SMC Infrastructure, expects more seamless movement along the new Skyway Stage 3 with the implementation of new measures to avoid congestion on access and exit points following the first day of toll collection on the elevated expressway. These measures resulted in faster throughput of vehicles even at high-volume toll plazas just a day later. “It’s unfortunate that many motorists were caught in traffic last Monday. We apologize for the inconvenience. While this was not totally unexpected on the first day of toll collection, for our