Wednesday Dec, 06 2023 11:20:51 PM

Economic News

Inflation in BARMM slightly increased but remains manageable—PSA Report

COTABATO CITY — In a recent report released by the Philippine Statistics Authority (PSA) on Tuesday, Oct. 24, the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) experienced a modest rise in its inflation rate, which reached 6.4% in September 2023, compared to 5.1% in August 2023.
Despite this uptick, BARMM remains well below the national inflation average. Region VII, Central Visayas, leads the country with the lowest inflation rate at 3.8%, followed by Region-VIII, Eastern Visayas, at 4.9%.


Airline exec visits Cotabato airport, eyes new route from Awang

COTABATO CITY - PARA sa mas malawak na air connectivity, tinitingnan ngayon ng isang cooperative airline firm ang posibilidad ng pagkakaroon tatlo pang direct flight mula Cotabato Awang airport.

Ang Leading Edge Air Services Corp. o LEASCOR ay positibo sa pagkakaroon ng flight mula Cotabato Awang Airport patungong Jolo sa Sulu Province, Cagayan de Oro City sa Misamis Oriental at Iloilo City sa Western Visayas .


BARMM traders welcome resumption of Cotabato Airport commercial flights

COTABATO CITY  – The business community in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has welcomed the resumption of commercial flights of two airline companies at the Cotabato Airport starting Sunday.

Lawyer Roland Hallid-Torres, chairman of the Bangsamoro Business Council (BBC), said the resumption of Cotabato Airport and the commercial flights have beneficial effects on regional tourism and business activities, ultimately contributing to the region's economic growth.


Cotabato Airport’s reopening schedule uncertain

COTABATO CITY - Stakeholders have to wait for nine more weeks for a private contractor to finish the repair of the Cotabato Airport runway that traders want reopened for Central Mindanao's economy to bounce back from the adverse effects of its closure since early July.

The airport was supposed to resume its operation by August 18, as what had circulated on social media and as announced by different radio stations here.


MILG: Lantawan public market building nearing completion

COTABATO CITY - The Ministry of the Interior and Local Government in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) today announced the ongoing construction of an MILG funded public market in Lantawan, Basilan is nearing completion.

"Our Public Market project in the municipality of Lantawan, province of Basilan is shaping up with the vibrant colors of its panolong now installed," BARMM Interior Minister lawyer Naguib Sinarimbo.

He said the the market will spur economic activity in this town and hopefully generate further employment.


Experts call for more cybersecurity professionals in PH

CEBU CITY – Claiming more companies are experiencing cyberattacks, an official of USAID and a cybersecurity expert have called for more cybersecurity professionals to help the government contain threats of cyberattacks.

John Avila, senior economic growth specialist of United States Agency for International Development (USAID) Office of Economic Development and Governance, and Carlos Ely Tingson, a former military officer and now cybersecurity expert, both believed that have more cybersecurity professionals will put the country in good hands.


RDC 12 approves SOX 2023-28 reg'l development new programs, projects

KORONADAL CITY – Regional Development Council XII approved the SOCCKSARGEN Regional Development Investment Program (RDIP) 2023-2028, as well as the SOCCSKSARGEN Regional Development Innovation and Research Agenda (RDIRA) 2023-2028.

Both the RDIP and RDIRA are accompanying documents of the SOCCSKSARGEN Regional Development Plan (RDP) 2023-2028. The approval and adoption was done during the 81st Regular Meeting of RDC XII  at Viajera Dine and Café, Koronadal City.


Be wary of online loan sharks, solon warns

MANILA – A legislator on Sunday warned the public not to patronize online lending applications as they do more damage than help people who need financial assistance.

Senator Sherwin Gatchalian, in an interview with radio station DZBB, said he has been receiving complaints from borrowers who experienced harassment from loan sharks on top of high-interest rates that range from 10 up to 40 percent.

Worst, he added, lending firms were able to access and hack the personal data of borrowers and their contacts.


Stakeholders react on Cotabato airport’s closure for repair works

COTABATO CITY --- Members of business blocs here are ranting on what is for them unannounced temporary closure of the city’s airport in nearby Datu Odin Sinsuat town for runway repair works.


MIAA exec apologizes as power outage hits NAIA Terminal 3 anew

MANILA – The Manila International Airport Authority (MIAA) apologized to the public on Friday afternoon as the Ninoy Aquino International Airport (NAIA) Terminal 3 experienced a power outage anew.

"Again, we would like to apologize to all the passengers and stakeholders here at Terminal 3 today that were inconvenienced because of this brief power interruption that affected the terminal," MIAA officer in charge Bryan Co said in a briefing,



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