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(Eagle News) – Inflation rate in July rose to an even higher rate of 5.7 percent compared to June’s 5.2 percent, indicating that prices of goods and services continued to rise, according to the Philippine Statistics Authority. “The country’s headline inflation rate continued to move at a faster pace of 5.7 percent in July 2018,” the PSA’s latest report released today, Tuesday, August 7, said. This is the highest recorded in five years, based on […]
(Eagle News) — President Rodrigo Duterte on Monday, July 23, rejected calls to suspend the Tax Reform for Acceleration and Inclusion law. In fact, in his third State of the Nation Address, he said he hoped to sign Package 2 of the TRAIN law before the end of the year. “We need this for sustainable growth,” he said. Critics of TRAIN have aired their concerns about inflation allegedly as a result of TRAIN, which imposes […]
(Eagle News)–For Senator Bam Aquino, President Rodrigo Duterte’s third State of the Nation Address should be about “addressing the plight of poor Filipinos burdened” by the effects of the Tax Reform for Acceleration and Inclusion law. “Sana pag-usapan ang mga solusyon sa pagtaas presyo sa SONA ng pangulo,” he said in a statement on Saturday, July 21. He also reiterated his position that the excise tax on fuel be suspended para mabigyan ng ginhawa ang […]
by Stuart WILLIAMS Agence France Presse ISTANBUL, Turkey (AFP) –Twenty-four people were killed and hundreds injured when a train packed with weekend passengers derailed in northwest Turkey due to ground erosion afer heavy rains, officials said Monday. The train, with over 360 people on board, was traveling from the Edirne region on the Greek and Bulgarian borders to Istanbul’s Halkali station on Sunday when six carriages derailed in the Tekirdag region. Deputy Prime Minister Recep […]
TOKYO, JAPAN (AFP) – Resplendent in shocking pink, a sleek “Hello Kitty” bullet train, complete with special carriages festooned with images of the global icon from Japan, has been unveiled before it chugs into service this week. The special shinkansen or bullet train will run for the next three months between the western cities of Osaka and Fukuoka from Saturday, the West Japan Railway firm said, hoping that one of the country’s most […]
(Eagle News) –The Department of Social Welfare and Development on Friday, June 15, launched the unconditional cash transfer program that is aimed at helping indigents cope with the effects of the Tax Reform for Acceleration and Inclusion law. In launching ceremonies held in San Fernando, Pampanga, Acting Social Welfare Secretary Virginia Orogo said the program will see 10 million poor Filipinos receiving an additional P200 allowance every month for three years. Orogo said this was […]
(Eagle News) — Finance Secretary Carlos Dominguez III said the government’s economic managers are pushing Congress to approve the Rice Tariffication Act as this would bring down prices of rice by around P7 per kilo and reduce inflation to below 4 percent by the second half of 2018. Dominguez said that he and the rest of the economic team agree that the best way to address inflation is for the Congress to swiftly pass […]
By Meanne Corvera Eagle News Service The Bangko Sentral ng Pilipinas on Tuesday, June 5, said the country’s inflation outlook “continues to be a concern and requires close attention.” This even if BSP Governor Nestor Espenilla said that while the average inflation of 4.1 percent in the first five months of the year was still above the BSP’s 2 to 4 percent target for the year, it was “maybe not going to be as bad as […]
(Eagle News) — President Rodrigo Duterte on Sunday, June 3, said the fate of the Tax Reform for Acceleration and Inclusion law was up to Congress. “I leave it to Congress to decide whether or not to amend, or suspend, or modify the law,” the President said in a speech prior to his departure to South Korea at the Ninoy Aquino International Airport. The President, however, added that money was needed to fund government programs […]
(Eagle News) — Senator Grace Poe on Friday, June 1, said the government should be giving subsidies to drivers who were affected by the increase in prices of gasoline. “May mga safeguards diyan katulad ng pagbibigay ng umento at vouchers din sa ating mga drivers para sa gasoline. So nais nating tanungin ang DOF, ano ba ang mga ginagawa nila para matulungan ang mga drivers?” Poe asked. “Masasabi ko sa DOF, ‘nasaan na ang pinangako […]
(Eagle News) — The Philippines is looking to import diesel from Russia. According to Presidential Spokesperson Harry Roque, based on a report from Energy Secretary Alfonso Cusi, the Philippine National Oil Company Exploration Corporation (PNOC-EC) has taken steps to do just that to help mitigate the effects of the rising prices in fuel. “Ang landed cost po dito kasama na ‘yung cost, insurance and freight sa Pilipinas is estimated only to be between ₱25 to ₱27,” Roque said. He said, […]
(Eagle News) — President Rodrigo Duterte on Wednesday, May 30, defended the implementation of the Tax Reform for Acceleration and Inclusion law, saying money was needed to fund government programs. “Inflation is always there. There are many reasons, but actually, one of them is TRAIN. But I need money also to run the country. If you do not give it, fine,” Duterte said. The President made the statement after several senators called for the suspension […]
