ECCP at Work

P2.85-B EU digital cooperation to support AI

The laboratory forms part of the EU’s €40-million digital cooperation with the Philippines under its Global Gateway strategy, equivalent to approximately P2.85 billion. It is intended to support responsible AI adoption and the development of a trustworthy and inclusive digital ecosystem.

Infrastructure spending falls for 14th straight month in August

Latest disbursements data from the Department of Budget and Management (DBM) showed infrastructure and other capital outlays fell by 16.9% or P14.4 billion to P70.5 billion in August from P84.9 billion in the same month a year ago.

Peso sinks to new low, nears 64:$1

The currency slumped by 33.5 centavos to end at P63.95 against the greenback from its previous weakest close of P63.615 on Oct. 23, Bankers Association of the Philippines data showed.

Debt yields spike as BSP turns more hawkish

THE GOVERNMENT made a partial award of the short-term securities it offered on Monday as players asked for higher yields after the Bangko Sentral ng Pilipinas’ (BSP) jumbo hike, with the peso’s slide also hitting risk sentiment.

As Dizon exits, DPWH reinforces LGU role in projects

During a joint press conference with Lopez on Tuesday, October 27, Dizon said the department instituted a formal mechanism earlier this year to involve LGUs in public infrastructure development, with the goal of including local governments in the planning process as early as the budgeting phase.

El Niño threatens Philippine farm output, hydropower supply

THE PHILIPPINES faces one of the highest risks of disruptions to agricultural production and hydropower generation in Southeast Asia due to a severe El Niño, leaving the country vulnerable to price shocks, Fitch Solutions unit BMI said.

Bill targets $70-B advanced industry hub

A BILL seeking to establish an advanced industries zone in New Clark City, Tarlac, aims to turn the Philippines’ participation in the US-led Pax Silica initiative into up to $70 billion in investments and 190,000 jobs by attracting global players in semiconductor manufacturing, artificial intelligence and other strategic technology industries.

Interested players in nuke energy may tap US funding

THE Department of Energy (DOE) said private firms interested to pursue nuclear power projects may tap a potential debt financing framework with the US International Development Finance Corporation (DFC) for up to $5 billion.

EU trade Chief seeks to rebalance EU-China trade as Brussels weighs tougher measures

After several months of negotiations, Brussels and Beijing reached a deal on 9 October to curb imports of hybrid cars from China. However, the agreement is unlikely to significantly narrow the EU’s record trade deficit with China, which has reached €1 billion a day, a gap the European Commission is seeking to reduce.

PHL chipmakers brace for El Niño

PHILIPPINE semiconductor manufacturers are preparing to keep factories running through a possible El Niño, including maintaining the water supply and cooling systems needed for production, although the industry cannot yet quantify the additional costs of securing these resources.

DOST eyes food consumption guidelines, AI app to curb waste amid El Niño

The Department of Science and Technology (DOST) is looking into crafting guidance for responsible consumption of food to avoid wastage amid the looming impacts brought by the El Niño phenomenon.

Foreign Affairs dep’t rejects Ombudsman’s call to remove visa issuance mandate

THE Department of Foreign Affairs (DFA) objected to a proposal to remove its visa issuance mandate amid public concern over Chinese nationals exploiting the 14-day visa-free entry policy to engage in illegal activities.

DND chief eyes more VFAs

DEFENSE Secretary Gilberto C. Teodoro, Jr. is looking at expanding the Philippines’ military agreements with countries that share its fundamental values, potentially opening the door to broader defense cooperation beyond its existing partnerships.

DFA clarifies envoy’s Taiwan remarks on subsea cable

THE Department of Foreign Affairs (DFA) on Monday clarified that the Philippines has no cooperation arrangement with Taiwan involving subsea cables or other critical undersea infrastructure, after remarks by a senior Philippine diplomat about deeper engagement with Taipei drew attention amid growing regional security concerns.

Philippines urges more equitable UN Security Council as global conflicts on the rise

Enrique Manalo, the Philippines' Permanent Representative to the United Nations, pressed UN member-states to consider reforming the council to reflect the "contemporary composition of the United Nations and principle of sovereign equality," according to a Department of Foreign Affairs release on Monday, October 26.

BIR suspends online registration badge rule amid privacy concerns

THE Bureau of Internal Revenue (BIR) on Monday suspended until further notice the mandatory display of registration seal badges on taxpayers’ online platforms, following concerns over data privacy and technical issues raised by online sellers and content creators.

Diesel up P1.20, gasoline down P0.30 starting Oct. 27

The Department of Energy announced the following changes Monday: Diesel — up P1.20 per liter; Gasoline — down P0.30 per liter; Kerosene — up P0.50 per liter. The adjustments will remain in effect until Monday, November 2.

EU Inc: Council adopts position on a new EU corporate law for innovative companies

Companies will be able to choose between the existing 27 national corporate law regimes and this new 28th “EU Inc” regime. Companies that choose to operate under this framework, will be able to register online within just two days, at a maximum cost of €100, able to operate across the entire EU single market.