May 23, 2025

Tag: economy

  • DOLE Reports: Only Two Philippine Regions Left to Implement Wage Increases

    The Department of Labor and Employment (DOLE) announced on Thursday that only two regions in the Philippines have yet to finalize wage increase orders for private sector employees. These regions are Bicol (Region 5) and Davao (Region 11), where the wage determination process is still underway. In Bicol, the Regional Tripartite Wages and Productivity Board…

    Written by

    Sasha Roxas-Meehan

  • DOLE Reports: Wage Increases Pending in Only Two Philippine Regions

    The Department of Labor and Employment (DOLE) announced on Thursday that only two regions in the Philippines have yet to finalize wage increase orders for private sector employees. The regions still in the process are Region 5 (Bicol) and Region 11 (Davao). The Regional Tripartite Wages and Productivity Board (RTWPB) in Bicol has postponed its…

    Written by

    Eduardo Mendoza

  • Inflation in Western Visayas Drops to 3.2% in November

    In a recent announcement, the Philippine Statistics Authority in Western Visayas (PSA-VI) revealed that the region’s inflation rate decreased to 3.2% in November, down from 3.9% in October. This news was shared during a press conference held on Friday, December 13, 2024, by PSA-VI Officer-in-Charge Nelida Amolar. The primary factor contributing to this decline was…

    Written by

    Erwin Magbanua

  • Philippines Becomes Global Shopping Hub with New VAT Refund Law for Tourists

    President Ferdinand R. Marcos Jr. has signed a new law that will make the Philippines a more attractive shopping destination for international visitors. The law, known as Republic Act 12079, introduces a VAT Refund System for non-resident tourists, allowing them to reclaim the Value Added Tax on goods bought within the country. Under this new…

    Written by

    Homer Pangilinan

  • New Wage Order in Eastern Visayas to Boost Minimum Pay Starting December 2

    In a move to enhance the financial well-being of workers in Eastern Visayas, a new wage order will come into effect on December 2, 2024. This order, issued on November 5, 2024, by the Regional Tripartite Wages and Productivity Board (RTWPB), will increase the daily minimum wage by PHP30, spread over two phases. The first…

    Written by

    Ramon Diaz

  • Inflation in Negros Oriental Climbs to 2% in October, Driven by Fuel Prices

    In October, Negros Oriental experienced a rise in its inflation rate, reaching 2% from the previous month’s 1.2%, according to the Philippine Statistics Authority (PSA). Ariel Fortuito, the Chief Statistical Specialist at PSA-Negros Oriental, explained that the increase was largely due to escalating fuel and petroleum product prices. He noted that fluctuations in fuel prices…

    Written by

    Herminio Racelis