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EU to roll out P359-M ARISE+ project in PH
By Kris Crismundo June 29, 2020, 2:30 pm MANILA – The Philippines will soon benefit from the EUR6.4-million (PHP359 million) project of the European Union that targets to boost economic activities and help retaining jobs amid the coronavirus disease 2019 (Covid-19) pandemic. In a webinar of Employers Confederation of the Philippines (ECOP) and International Labor Organization (ILO) Monday, Delegation of the EU to the Philippines Chargé d’ Affaires Thomas Wiersing said the country will be part of the Asean Regional Integration Support from the EU Plus (ARISE+). “(It) contributes to the integration of Philippine economy into the global production chains through targeted support both to the public and private sectors. It is a national Philippine component of the ARISE+ program, supporting regional economic integration and trade in Asean,” Wiersing said. The ARISE+ is a five-year program with components such as trade facilitation and transparency; standards and... DOT welcomes P58-B tourism recovery fund
By Alehia Abuan Published on June 27, 2020 PARAÑAQUE CITY, June 27 (PIA) – Department of Tourism (DOT) chief Berna Romulo-Puyat on Friday happily announced the approval by Congress of the P58-billion stimulus package to fund the Tourism Response and Recovery Program (TRRP).In her Laging Handa interview over PTV, Puyat said P58 billion TRRP allocated from the P1.3-trillion Philippine Economic Stimulus Act (PESA) would be used to revive the country’s tourism sector, which suffered serious losses due to the ongoing global health crisis.“With stimulus package now earmarked for the tourism sector, we look to a foreseeable recovery from the industry’s massive losses,” she said.To recall, the tourism industry is one of the hardest hit due to imposed lockdowns and restricted travel, which limited the flow of international and domestic tourists in the Philippines, a country known for its world-famous beaches, budget-friendly tour packages, and welcoming locals.... Despite economic pinch, PH set to finish 36 port projects
By: Miguel R. Camus - Reporter / @miguelrcamusINQPhilippine Daily Inquirer / 05:10 AM June 26, 2020The Department of Transportation (DOTr) is on track to complete 36 port projects this year amid a health crisis that has triggered a contraction in the broader economy.Through the Philippine Ports Authority, the DOTr said it completed 14 projects as of June, with another 22 set to be finished by the end of 2020.According to the department, the projects would “bolster the operational capability of the current ports, specifically in inter-island travel and movement of essential goods across regions.”This also comes despite travel restrictions even among local government jurisdictions as new coronavirus cases continue to rise.Of the 14 completed projects, the Port of Borac and Port of San Fernando, both in Palawan, and Port of Malalag in Davao del Sur are brand-new facilities.The rest are expansion projects. These are the Port of Cawit in Boac, Marinduque; Port of E...
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Japan Credit Rating Agency upgrades Philippines’ rating to A-

 
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Japan Credit Rating Agency (JCR) on 11 June 2020 upgraded the Philippines’ credit rating by a notch from BBB+ to A-, citing the country’s resilience amid a pandemic that has slowed down growth, impaired fiscal positions and hurt credit ratings of economies across the globe.

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