The global economy is expected to grow at a slower than expected clip of 2.4 percent next year, a state-run economic think tank said Thursday, citing the aftermath of aggressive monetary tightening in major economies and lingering geopolitical risks. The growth outlook marks a drop from a 3.6 percent expansion projected in May, according to the Korea Institute for International Economic Policy (KIEP). For the year, the global economy is expected to grow 3.1 percent, also slower than the earlier estimated 3.5 percent expansion, the institute said. The 2023 growth outlook is higher than the 2.2 percent
The Philippines considers Vietnam as an “important partner” in ensuring food security, President Ferdinand R. Marcos Jr. said Thursday. He made the remark during a bilateral meeting with Vietnamese Prime Minister Pham Minh Chinh on the sidelines of the 40th and 41st Association of Southeast Asian Nations (Asean) Summit and Related Summits in Phnom Penh, Cambodia. During their meeting, Marcos cited that Vietnam accounts for 90 percent of the Philippines’ rice imports. He told Chinh that he looks forward to working closely with Vietnam and having greater engagement toward enhancing relations in agriculture and other areas, such
The mayors of Bacolod and Iloilo, the two highly urbanized cities in Western Visayas (Region 6), have reaffirmed their cooperation for regional development after netizens seemed to pit them against each other in terms of their city’s economic progress and other aspects. “I admire Iloilo City. In fact, Mayor Jerry Treñas is my idol. We’ve been friends for some time and I look up to him as a mentor and a yardstick of leadership and initiative,” Bacolod City Mayor Alfredo Abelardo Benitez, the chairman in waiting of the Regional Development Council 6 (Western Visayas), said on Thursday. In
Myles Powell will be making a return to Bay Area as the PBA Commissioner’s Cup guest team has decided to stick with him for the remainder of its campaign. The league confirmed on Thursday that the six-foot-two guard will be the club’s import the rest of the way, starting with a Friday game against Rain Or Shine at the Ynares Center in Antipolo City. This means that Andrew Nicholson will be sidelined for the rest of the tournament, although PBA commissioner Willie Marcial clarified that he can rejoin the Dragons as Powell’s replacement if he gets injured on
The Department of Science and Technology-Central Luzon (DOST 3) has provided post-harvest mill machines to farmer groups in Bulacan to help them produce affordable brown rice. Under the DOST’s Community Empowerment through Science and Technology (CEST) program, six farmer groups have received one each of compact impeller brown rice mills (CIBRM) that will enable them to produce brown rice and sell it at prices lower compared to those in supermarkets. DOST Region 3 Director Julius Caesar Sicat said on Thursday although brown rice is available commercially, it is usually patronized only by health-conscious persons who can afford it.
The House Committee on Health and Committee on Science and Technology on Thursday approved a measure proposing the creation of the country’s first public agency specializing in the research and commercialization of virus technology. In a joint hearing, the two panels approved the substitute bill seeking to establish the Virology Institute of the Philippines. Under the measure, the institute “shall serve as the premier research and development institute in the field of virology, encompassing all areas in viruses and viral diseases in humans, plants, and animals.” The institute will work with international organizations and conduct innovative and
