World Business Inquiries

Questioning business opportunities in a world that is currently in sharp decline due to the outbreak of the COVID-19 virus. The answer from entrepreneurs and business people is very simple. They answered, all will be beautiful in its time

Read More

P34.5B removed from agencies, diverted to COVID-19 response, say DBM data

Budget cuts inflicted upon agencies further ballooned to a net of P34.5 billion in July as more money was diverted to COVID-19 response, Department of Budget and Management (DBM) data released on Monday (Aug. 17) showed.

Assistant Budget Secretary Rolando U. Toledo told the Inquirer that since the Bayanihan to Heal as One Act lapsed on June 25, the government was no longer allowed to reprogram funds for COVID-19-related programs and projects.

“Budget cuts tagged due to the discontinuance of programs, activities and projects in July referred to negative special allotment release orders (Saros) dated June 25 and earlier,” Toledo said in a text message.

“They were only reflected in the July matrix due to delayed tagging in our eBudget systems,” Toledo said.

Net adjustments from April to July showed the biggest budget reductions were made on:

  • Department of Public Works and Highways (P126.3 billion)
  • Department of Education (P21.9
Read More
read more

Japan stocks fall after economy contracts, other markets up

BEIJING  — Japanese stocks sank while other Asian markets gained Monday after Japan reported a record economic contraction as the coronavirus pandemic weighed on retailing, investment and exports.   (AP Photo/Eugene Hoshiko)ket Investors in Asia looked ahead to...

read more

Japan’s economy shrinks at record rate, slammed by pandemic

TOKYO  — Japan’s economy shrank at annual rate of 27.8% in April-June, the worst contraction on record, as the coronavirus pandemic slammed consumption and trade, according to government data released Monday. FILE – In this June 17, 2020, file photo, containers are...

read more

P34.5B removed from agencies, diverted to COVID-19 response, say DBM data

Budget cuts inflicted upon agencies further ballooned to a net of P34.5 billion in July as more money was diverted to COVID-19 response, Department of Budget and Management (DBM) data released on Monday (Aug. 17) showed. Assistant Budget Secretary Rolando U. Toledo...

Japan stocks fall after economy contracts, other markets up

BEIJING  — Japanese stocks sank while other Asian markets gained Monday after Japan reported a record economic contraction as the coronavirus pandemic weighed on retailing, investment and exports.   (AP Photo/Eugene Hoshiko)ket Investors in Asia looked ahead to...

Japan’s economy shrinks at record rate, slammed by pandemic

TOKYO  — Japan’s economy shrank at annual rate of 27.8% in April-June, the worst contraction on record, as the coronavirus pandemic slammed consumption and trade, according to government data released Monday. FILE – In this June 17, 2020, file photo, containers are...

Tampakan LGU terminates deal with mining firm

The municipality of Tampakan has terminated an agreement that allowed Sagittarius Mining Inc. (SMI) to continue its mining operations in the area, citing “vague” and “disadvantageous” terms in the contract. The local government unit in South Cotabato issued the...

‘Just a matter of time’ before BSP reserves top $100B

The Philippines’ foreign exchange reserves will likely top the $100-billion mark soon, according to the chief of the central bank—a situation that will give the country a measure of protection against capital flight previously unseen in its history. In an text...