Day: July 1, 2025

Manila: The Department of Budget and Management (DBM) has sanctioned the release of more than PHP3.627 billion to propel the government’s rural electrification efforts, aligning with the Marcos administration’s vision of achieving complete electrification by 2028. Budget Secretary Amenah Pangandaman approved the Special Allotment Release Order (SARO) for the Strategized Rural Electrification and Operational Reliability program of the National Electrification Administration (NEA) for Fiscal Year 2025, as stated in a DBM news release on Tuesday. According to Philippines News Agency, NEA will utilize this funding to energize 1,752 sitios and five barangays under the 2025 subsidy. The majority of the

Manila: President Ferdinand R. Marcos Jr. on Tuesday directed the Securities and Exchange Commission (SEC) to address bureaucratic bottlenecks to ensure the successful implementation of Republic Act (RA) 12214 or the Capital Markets Efficiency Promotion Act (CMEPA). He expressed confidence that the special bell-ringing to mark the effectivity of the CMEPA will pave the way for a ‘new era of economic dynamism, investor confidence, and sustainable growth.’ According to Philippines News Agency, Marcos emphasized the importance of the SEC streamlining its procedures, removing bureaucratic bottlenecks, and reducing transaction costs within its control. He urged the necessary changes to fulfill responsibilities

Makati: Department of National Defense (DND) Secretary Gilberto Teodoro Jr. has expressed a strong desire for the proposed multi-role fighter (MRF) program to advance as a complete package, incorporating an airborne warning and control system (AWACS) and aerial tankers for mid-air refueling. This comprehensive approach ensures that the MRF program functions as an operational force package, Teodoro stated during a media briefing at the Makati Shangri-La Hotel. According to Philippines News Agency, Teodoro emphasized that the integration of these platforms would enable MRFs to perform their missions effectively. He highlighted the necessity of acquiring AWACS capability, which many countries find

Manila: Senator Sherwin Gatchalian on Tuesday warned that the resurgence of illegal offshore gaming sites showed that the country remains vulnerable to abuses linked to Philippine Offshore Gaming Operators (POGOs). According to Philippines News Agency, Gatchalian issued the statement after the Philippine Amusement and Gaming Corporation (PAGCOR) released a public advisory warning the public against unlicensed online gaming platforms. “PAGCOR’s public warning against illegal offshore gaming websites is an indication that our fight against POGOs is far from over and warrants an intensified campaign against POGO-like entities,” he said. The senator called on the Department of Information and Communications Technology,

Manila: The robust growth of foreign investments in the Philippines compared to the country’s investments overseas resulted in an increase in the country’s net external liabilities by end of March. According to Philippines News Agency, the country’s net external liabilities rose by 5.8 percent to USD69.3 billion by the end of the first quarter this year against USD65.5 billion by the end of December 2024, based on data released by the Bangko Sentral ng Pilipinas (BSP) Monday night. The BSP attributed this to the 2.7 percent jump in external financial liabilities to USD326.8 billion compared to the 1.9 percent rise