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The European Union has announced plans to raise funds from public markets to raise 750 billion euros for its member nations as part of a plan called NextGenerationEU.
BusinessWorld May 27, 2021 | 9:00 pm PHILIPPINE shares rallied for a third straight day on Thursday as the possibility of the government approving another round of stimulus and the MSCI rebalancing boosted market sentiment. The 30-member Philippine Stock Exchange index (PSEi) gained 323.90 points or 5.1% to close at 6,665.14 on Thursday, while the all shares index also went up by 135.53 points or 3.47% to finish at 4,034.92. “The local market rallied this Thursday… on the back of optimism towards more fiscal stimulus for the Philippine economy,” Philstocks Financial, In...
(MARK BALMORES / MANILA BULLETIN) Despite the pandemic, the Alliance of Concerned Teachers (ACT) Philippines alleged that DepEd’s disbursement of funds – as it does every year – remained the same. “Pandemic-hit teachers and families are forced to use their own meagre incomes to fund the hefty needs of education,” said ACT Secretary General Raymond Basilio. “So it’s not just about fiscal irresponsibility anymore, but DepEd’s commission of a grave injustice against its constituents,” he added. ACT decried that DepEd’s “poor” fiscal performance has once again compelled t...
BusinessWorld May 16, 2021 | 7:59 pm PHILSTAR THE HOUSE Committee on Ways and Means said its priorities on resuming session Monday include grappling with out-of-control pension liabilities for military and uniformed personnel (MUP). In a statement Saturday, Committee Chairman Jose Ma. Clemente S. Salceda said: âMUP pension reform will be painful but crucial. Itâs some pain now or very big pain in the future. The unfunded pension liabilities, according to the GSIS, amount to some P9.6 trillion based on 2019 data. Itâs a serious threat to our economic prospects in...