President Ferdinand Marcos, Jr. mourned the passing of Britain's Queen Elizabeth and said ''the world has lost a true figure of majesty.''
In a statement posted in his Facebook account Friday, Marcos remembered how the Queen reigned with "dignity, commitment to duty, and devotion to all those in her realm."
Queen Elizabeth II, 96, passed away at Balmoral Castle. She was Britain's longest serving monarch, assuming the throne in 1952 after the death of her father, King George VI.
Prince Charles will assume the throne as King Charles III.
Marcos visited the residence of British Ambassador to the Philippines Laure Beaufils to sign the condolence book of the Queen. He was accompanied by First Lady Maria Louise Araneta Marcos, and two of his sons: Ilocos Norte Rep. Ferdinand Alexander Marcos, III and Joseph Simon Marcos.
Also present was House Speaker Martin Romualdez.
"We, together with many Filipinos living and working in England, though not subjects of the Queen, have found ourselves having developed a great sense of affection for her as a Queen, as mother, and as a grandmother," Marcos said. DMS
good morning. Saturday, September 10, 2022 It's time for a morning walk. It's sunny in Legazpi this morning. The rain that was falling last night has stopped and Mt. Mayon looks beautiful.
Philippines records lowest unemployment rate since COVID 19 onset Balisacan
Philippines records lowest unemployment rate since COVID-19 onset: Balisacan
The Philippine labor market continued to record positive gains as the unemployment rate fell to its lowest since the onset of the COVID-19 pandemic, the National Economic and Development Authority (NEDA) said Thursday.
As reported by the Philippine Statistics Authority, the unemployment rate significantly decreased to 5.2 percent in July from 7.2 percent in the same period last year. This is also the lowest unemployment rate for all July rounds of the Labor Force Survey since 2005.
Similarly, the underemployment rate plunged to 13.8 percent from 21.0 percent in July 2021. This is equivalent to 2.2 million fewer underemployed individuals.
“We expect more jobs and income opportunities available for Filipinos in the coming months as we move toward the full reopening of the economy. These opportunities will help temper the impact of global inflationary pressures on the purchasing power of Filipinos,” Balisacan added.
The labor force participation rate increased to 65.2 percent, with over 5.1 million individuals joining the labor force in July. Meanwhile, the total number of employed individuals rose to 47.4 million, bringing the employment rate to 94.8 percent?the highest recorded since the start of the pandemic.
“The continuous reopening of schools is a pivotal step for all economic players. The latest data show that as more youth have opted to return to face-to-face classes, women were also relieved from additional care work at home, allowing for more possibilities for them to be economically active,” Balisacan said.
The majority of the increase in employment came from the services sector, particularly in wholesale & retail trade. This is followed by the agriculture and industry sectors.
"We need to intensify the vaccination program by increasing the country’s booster rate to sustain low alert levels and reinvigorate domestic economic activity,” the NEDA chief added.
Balisacan also highlighted the need for the timely implementation of the Fiscal Year (FY) 2022 national budget and the passage of the FY 2023 budget to accelerate recovery and jumpstart priority programs in the medium term, thus, mitigating the impact of external risks to the economy. NEDA Public Affairs
The peso closed at a record low against the dollar for the fifth trading session on Thursday with P57.18.
On Wednesday, it closed at P57.135. The peso's lowest during intraday trading was P57.22.
Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $1.151 billion from Wednesday's $1.232 billion.
The Philippine Stock Exchange index rose 39.66 points to 6,593.74.
Volume amounted to 674.59 million shares worth P5.25 billion from Wednesday's 916.46 million shares valued at P4.85 billion.
In the broader market, there were 99 declines, 88 advances and 48 unchanged.
Most active shares were led by Ayala Land, down 75 centavos to P27.80; Universal Robina Corp., up P3.30 to P128.40; San Miguel Corp., up P1.70 to P98.70 and SM Prime Holdings, up P1.25 to P37.40. DMS
Marcos invites Singapore firms to invest in Philippines
Marcos invites Singapore firms to invest in Philippines
President Ferdinand Marcos Jr. on Wednesday invited foreign businesses to put their investments in the Philippines, describing the country as “Asia’s fastest rising star.”
Speaking during the Philippine Economic Briefing at the Shangri-La Hotel, Marcos encouraged businesses to seize the opportunities in the country, as it welcomes the future with optimism grounded on a favorable investment policy environment, sound macro-economic fundamentals, and a strong and decisive economic team.
“We are presently on a steady path to a strong recovery from the pandemic and a robust economic expansion. In the next few years, our economy is expected to outperform our regional peers,” he told the participants of the gathering led by the Bangko Sentral ng Pilipinas (BSP) and Department of Finance (DOF).
“My administration is committed to establishing an even more competitive business climate conducive to high-value investments.”
The government is inviting strategic investors from the international community to take part in the Philippines’ economic resurgence, he said.
He also stressed that his administration will change the game through structural reforms to allow for wider participation in the country’s industries.
With the Corporate Recovery and Tax Incentives for Enterprises Act or CREATE, and the economic liberalization measures, Marcos pointed out that the government has expanded the space for foreign investments in joint venture opportunities for industry players employing cutting-edge technologies.
“The presentations of the economic team today will paint a clearer picture of what you can expect in the next six years. The Philippines welcomes your investments and looks forward to forging even stronger ties with the Singaporean business community,” Marcos said.
Marcos also told the participants that his government is implementing an eight-point socio-economic agenda that underscores its commitment through broad-based job creation, expansion of digital infrastructure, and promotion of research and development in the country.
He expects to reduce poverty sharply and upgrade the country to upper middle-income status through this strategy.
At the same time, he said his government is pursuing the country’s first-ever medium-term fiscal framework, which will widen its fiscal space to allow for continued investments in public infrastructure and human capital development.
High investments in public infrastructure will be expanded by leveraging the government’s public-private partnerships mechanisms, he said.
He likewise vowed to improve interconnectivity by fast-tracking the development of railways systems, modernizing airports and seaports, and enhancing road infrastructure.
As a critical driver of the economy, the administration will also focus on agriculture, he said, believing an efficient and modern agriculture sector will ensure food security and reduce poverty incidence.
“We will also reinvigorate the tourism sector through massive investments in travel infrastructure and the promotion of the Filipino brand around the world,” he added. Presidential News Desk
