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Friday, January 22, 2021 Vol. 16 No. 103
EJAP JOURNALISM AWARDS
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DEPARTMENT OF SCIENCE AND TECHNOLOGY
2018 BANTOG MEDIA AWARDS
PHILIPPINE STATISTICS AUTHORITY
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JOE BIDEN is sworn in as the 46th president of the United States by Chief Justice John Roberts as Jill Biden holds the Bible during the 59th Presidential Inauguration at the US Capitol in Washington, Wednesday, January 20, 2021. Story on A5. AP/ANDREW HARNIK
LONGER PHL RECOVERY FROM ’CORONA COMA’ T By Cai U. Ordinario
HE Philippines’s recovery from its “corona coma” could take longer, as the economy will likely post a growth of around 3 percent to 4 percent this year, according to the Ateneo Center for Economic Research and Development (Acerd).
PHL READY FOR SHIFT TO CLEAN-ENERGY REGIME–DOE By Lorenz S. Marasigan
T
HE Philippines is ready to run the race toward the transition to cleaner and more sustainable energy production and distribution, with experts and industry stakeholders agreeing that there must be a decent mix of renewables and other energy sources to meet the needs of Filipinos and electrify millions more households in the future. Department of Energy (DOE) Undersecretary Jesus Cristino Posadas said his group is strongly pushing for the development of renewable energy (RE) sources and low- and nocarbon sources like natural gas,
hydrogen and nuclear to create a cleaner, more sustainable future for the Philippines. “We in the DOE have been actively seeking the development and utilization of all, most especially our indigenous energy resources, while working to increase the attractiveness of the country as an energy investment destination,” Posadas said in the Philippine Energy Transition Forum organized by the European Chamber of Commerce of the Philippines (ECCP). Philippine Energy Independence Council President Don Paulino added that the Philippines is ready for the transition to a clean energy system, especially now Continued on A2
POSADAS: “We in the DOE have been actively seeking the development and utilization of all, most especially our indigenous energy resources, while working to increase the attractiveness of the country as an energy investment destination.” SIEW.GOV.SG
In the Ateneo Eagle Watch forum “Preparing Your Business and Institution in Prioritizing for Recovery,” Acerd Senior Fellow and former Socioeconomic Planning Secretary Cielito F. Habito said the economy may only start to regain its bearings by the second quarter this year. “It will take three years or more to regain what we lost in 2020. And I’m beginning to won-
der whether this is not overly optimistic. If you look at our experience in the 1980s, it took us five to six years after the 1983 recession precipitated by the assassination of Senator Benigno Aquino, for us to recover the level of GDP we had in 1983. In other words, we did not regain that until about 1989,” Habito said. See “Coma,” A2
Illicit trade to hinder credit rating upgrade bid By Elijah Felice Rosales
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CONOMIES prone to illicit trade, including the Philippines, will find it difficult to obtain the highest credit ratings if their regulatory regimes and institutions remain entangled in corruption, a report has concluded. In a study, titled “The Link Between Illicit Trade and Sovereign Credit Ratings,” by Transnational Alliance to Combat Illicit Trade (Tracit), it was deduced that countries dealing with the issue of illegal exchange of products and services tend to secure lower ratings from credit rating agencies. On the contrary, economies with high scores on capacity to fight illicit trade also had the highest credit ratings. “Where a country’s underlying conditions make it vulnerable to illicit trade, it has fewer prospects… See “Illicit,” A2
PESO EXCHANGE RATES n US 48.0420
n JAPAN 0.4641 n UK 65.6110 n HK 6.1976 n CHINA 7.4334 n SINGAPORE 36.2718 n AUSTRALIA 37.2133 n EU 58.1693 n SAUDI ARABIA 12.8078
Source: BSP (January 21, 2021)