Day: July 22, 2025

Manila: The Philippines has experienced rapid economic growth primarily driven by capital accumulation since 2010, but productivity gains have lagged behind. Over 90% of the growth is attributed to capital accumulation, while total factor productivity and human capital contributions remain minimal. Despite the robust expansion, the limitations in productivity gains pose significant challenges for the nation’s long-term economic trajectory. According to World Bank, the country has seen significant job creation, with over 11.7 million jobs added since 2010 and real wages increasing by an average of 24%. However, a majority of these jobs, about three out of four, are in

Geneva: In a significant development, the World Bank Group (WBG) has taken substantial steps to address global plastic pollution, aligning with the ongoing efforts of the Intergovernmental Negotiating Committee (INC) to develop an International Legally Binding Instrument (ILBI) on plastic pollution. The INC has been tasked with formulating the specific content of the ILBI by the end of 2024, with its second session scheduled in Geneva in August 2025. This initiative aims to combat plastic pollution comprehensively by addressing the entire lifecycle of plastics. According to World Bank, the organization is actively supporting plastic pollution prevention initiatives in over 60

Washington: The United States is set to impose a 19% tariff on imports from the Philippines, a move announced by US President Donald Trump following discussions with the Philippine president at the White House. The announcement was made on Tuesday through Trump’s social media platform, where he described the tariff as part of a larger agreement that includes the Philippines removing duties on US goods and increased military cooperation between the two nations. According to BBC, Trump has labeled the meeting as a success, stating, “It was a beautiful visit, and we concluded our Trade Deal,” without providing further specifics

Malolos: Two dioceses have opened their churches to evacuees affected by the southwest monsoon and Severe Tropical Storm Crising. In separate statements on Tuesday, the dioceses of Malolos and Cubao announced that those affected by heavy rains and flooding may seek shelter in several churches. According to Philippines News Agency, the Malolos Diocese has designated churches in low-lying areas in Bulacan, including Marilao, Guiguinto, Meycauayan, Bocaue, Calumpit, Santa Maria, Hagonoy, Valenzuela, and Malolos, to accept individuals seeking temporary refuge. The Cubao Diocese has advised the public to head to the Holy Family Parish – Roxas and San Antonio de Padua