Latest news with #ARTA
Filipino Times
29-05-2025
- Business
- Filipino Times
ARTA recognizes top agencies for good governance in regulatory forum
The Anti-Red Tape Authority (ARTA), in partnership with the UK Government, held a forum on May 29, 2025, to recognize government agencies that are improving their services and reducing red tape. The event, called the Recognition and Engagement Forum for the Philippine Good Regulatory Principles (PGRP) Recognition and Awards Program, took place at Crowne Plaza Manila Galleria. The Maritime Industry Authority (MARINA) received the silver award, while the Department of Agriculture's Bureau of Soils and Water Management (DA-BSWM) got the bronze award for good regulatory governance. Other agencies also received recognition for their participation, including the Bureau of Jail Management and Penology (BJMP), the Clark Development Corporation (CDC), DA – Bureau of Agriculture and Fisheries Standards (BAFS), Department of Agriculture's Bureau of Fisheries and Aquatic Resources (BFAR), Department of Health (DOH), Department of Tourism (DOT) – Intramuros Administration, Department of Trade and Industry (DTI), Land Transportation Office (LTO), Mactan – Cebu International Airport Authority (MCIAA), Movie and Television Review and Classification Board (MTRCB), Philippine Coast Guard (PCG), Philippine Economic Zone Authority (PEZA), and Power Sector Assets and Liabilities Management Corporation (PSALM). These offices were commended for working to improve their services for Filipinos locally and abroad. United Kingdom's ASEAN representative Zoë Dayan expressed strong support for the initiative, saying, 'We think the PGRP are valuable and important milestone for government, and we're proud to call ourselves a loyal partner and we'll continue to support the Philippines in your journey to smarter regulation, digital transformation, and ease of doing business.' United Kingdom's ASEAN representative Zoë Dayan ARTA Secretary Ernesto V. Perez also said, 'Our reform agenda gained even greater traction under the administration of President Ferdinand Marcos Jr., who emphasized the need to simplify and align national and local regulations to support ease of doing business.' He added that ARTA is pushing for reforms that cut down on complicated requirements. ARTA Secretary Ernesto V. Perez One of the event's highlights was the launch of the Standard Cost Model (SCM), a tool designed to help government agencies reduce unnecessary paperwork, waiting times, and extra costs.
Scoop
15-05-2025
- Business
- Scoop
Navigating Uncertainties: Transforming Tensions Into Policy Priorities
15 May 2025, The global economy in 2025 is navigating a complex and volatile environment. Escalating trade tensions, rising protectionism and shifting supply chains are reshaping the growth landscape, particularly in the APEC region, and urging policymakers to adapt swiftly. Growth Outlook Weakens amid Uncertainty APEC economies are seeing a sharper downgrade in growth than the rest of the world. Regional GDP growth is projected to slow significantly to 2.6–2.7 percent in 2025–2026, down from 3.6 percent in 2024. These projections are notably lower than the 3.1–3.3 percent forecasts in the March 2025 APEC Regional Trends Analysis (ARTA), highlighting how rising trade tensions and heightened uncertainty are undermining the recovery. Monetary policy rates hold steady as economies closely monitor inflation and exchange rate pressures amid global headwinds. Oil prices are falling on oversupply and subdued demand, while food prices remain stable, supported by balanced production and steady consumption. Although a global recession remains unlikely, persistent economic uncertainty is weighing heavily on trade flows, investments and long-term decision-making. Businesses have put on hold investment decisions, including the launch of new products and strategies, affecting not only trade in goods, but also in services. Trade Contraction Clouds Regional Prospects The global trade environment is expected to deteriorate in 2025. Merchandise trade volume growth is now projected to turn negative, from an expected 3.0 percent expansion to a contraction of -0.2 percent.[1] Growth in commercial services exports has also been revised downward, from 5.1 percent to 4.0 percent. Within APEC, the volume of goods and services exports is expected to grow by just 1.1 percent in 2025 on average, a sharp reduction from 6.1 percent in 2024. While many APEC economies continue to pursue trade-facilitating policies—aimed at streamlining cross-border flows and supporting domestic sectors—these efforts are increasingly offset by a surge in restrictive and discriminatory measures. According to the Global Trade Alert database, the use of subsidies rose to 14,498 cases in 2024 from 12,733 in 2022, alongside other non-tariff measures. At the same time, trade remedies such as anti-dumping measures and countervailing duties are becoming more common, reflecting growing concerns among APEC economies about unfair trade conditions. The shift toward a more nuanced trade policy could yield mixed outcomes. Indeed, the export outlook across APEC economies is increasingly uneven, shaped by shifting global dynamics and robust demand in certain sectors, while widespread trade uncertainties cast a long shadow over broader prospects. Trade Policy Uncertainty Reaches Historic Highs Indices measuring economic uncertainty have surged to unprecedented levels; in particular, the index on trade policy uncertainty went up to 900 points in 2025—a tenfold increase compared to the 2015–2024 average of 85 points. This surge reflects escalating tariffs (and retaliatory measures), rising geopolitical tensions, and policy fragmentation, which have clouded the global trade and investment environment. Small and trade-dependent economies are especially vulnerable, facing limited resilience to external shocks. Meanwhile, the growing prioritization of domestic concerns over international cooperation threatens to heighten volatility in global markets and dampen growth. Historical data underscores the risks: a substantial rise in tariffs correlates with significant long-term economic losses. An empirical research shows that a 10-percentage-point increase in tariffs can lower GDP by around 1.1 percent after five years, highlighting the damaging impact of protectionism on economic performance over time.[2] Financial Market Volatility Signals Rising Risks Financial markets are also exhibiting warning signs. The global volatility index spiked to 52 points in April 2025, more than triple the 2023–2024 average of just 16 points. This reflects heightened concerns over trade tensions, inflation risks, and broader geopolitical instability. Investor sentiment has become more fragile, driving up demand for safe-haven assets like gold, which has soared to record levels of around USD 3,200 per troy ounce so far in early May 2025, from an average of USD 1,400 per troy ounce during the period 2010-2020. Without clearer policy signals, financial markets are likely to remain hypersensitive to shocks, further complicating investment decisions and amplifying economic risks. Debt and Demographic Add to Long-Term Pressures Soaring general government gross debt continues to limit fiscal space, from a pre-pandemic average of 89 percent of GDP, increasing to 103 percent of GDP during the pandemic, and expected to reach 110 percent of GDP in 2024-2030. The projected rise in public debt, surpassing the pandemic peak, underscores the need for structural reforms to balance long-term growth with rising fiscal pressures. Adding to the ongoing challenges are demographic shifts. The APEC population is projected to decline from 3 billion today to 2.2 billion by 2100, with an ageing population and a shrinking youth base that could strain social systems, reduce workforce, and challenge growth objectives. Governments will face greater pressure to raise public expenditure in health, pension and other social support measures as the population ages, while ensuring that fiscal debt remains manageable. Policy Imperatives for an Adaptive and Resilient Future In light of these challenging conditions, a shift in policy strategy is urgently required. Policymakers must not only manage short-term risks but also invest in long-term structural resilience to sustain growth in an increasingly uncertain and fragmented world. Promote trade stability: De-escalate trade tensions and reduce policy uncertainty to restore confidence in trade and investment. Pursue trade diversification: Expand trade partnerships, target new geographic markets, and broaden the range of export and import products to reduce vulnerability and create new opportunities for growth. Agile monetary and fiscal policies Responsive monetary policy action: Adjust monetary policy swiftly to manage inflation while maintaining support for stable economic growth. Strategic fiscal investments: Focus fiscal policy on strategic sectors, striking a balance between long-term growth and prudent spending. Resilience-enhancing structural reforms Strengthen labor markets: Promote skills development, workforce participation, and adaptability to support economic transitions. Boost competitiveness: Implement reforms and promote innovation to help businesses thrive amid global disruptions. Harness digital innovation: Invest in digital infrastructure to improve efficiency and productivity. Revitalize multilateral cooperation Tackle shared challenges: Strengthen multilateral efforts to tackle shared economic challenges, including fostering continuous policy dialogue toward collective action and global stability. Coordinate crisis responses: Enhance global cooperation to improve resilience and responsiveness to future economic shocks. The global economy stands at a critical juncture. Protectionist trade measures are aggravating geopolitical tensions and contributing to heightened volatility—developments that could redefine the future of trade and impact on global stability. This growing uncertainty is also dampening economic growth prospects well into the medium term. Nonetheless, with strategic and forward-looking policies—focusing on agility, resilience, and cooperation—APEC economies can navigate current challenges and emerge stronger and more competitive in a rapidly changing world. Rhea Crisologo Hernando is analyst, Glacer Niño A. Vasquez is researcher, and Carlos Kuriyama is director at the APEC Policy Support Unit.
Yahoo
06-03-2025
- Business
- Yahoo
Report confirms there are a lot of lawyer ads in Las Vegas
This is not a billboard ad for a lawyer. Yet. (Photo: April Corbin GIrnus/Nevada Current) Trial lawyers spent more than $44.8 million in Las Vegas last year advertising their legal services or recruiting clients for class action lawsuits, according to a report released Wednesday by the American Tort Reform Association. In 2024, Las Vegas ranked 10th in media markets with the highest spending on legal services advertising and 8th in media markets with the highest quantity of these ads. The $44.8 million spent in Las Vegas bought 547,953 ads across television, radio and digital spaces, according to ATRA. No other U.S. city saw more money spent last year on digital advertising for legal services than Las Vegas. ATRA's analysis looked at internet search, mobile app, web video, and web display ads. It did not include social media. Las Vegas ranked 7th in the number of television ads that aired, but it did not break into the top 10 for dollars spent on tv ads. ATRA found that nationally more than $2.5 billion was spent advertising legal services across all platforms in 2024. That's a 39% increase in spending compared to 2020, though the number of ads decreased 4%. The report attributes this dynamic to increased costs of digital advertisements. ATRA notes that pizza restaurants last year spent $1.1 billion on advertising. Las Vegans may recognize many of the biggest spenders of legal services ads nationally. They include Morgan & Morgan, Sweet James Attorneys, and Lerner & Rowe Attorneys. ARTA, which has described itself as 'especially concerned with the costs that excessive civil litigation imposes on society,' argues that 'over-the-top advertisements from personal injury attorneys with catchy jingles and toll-free numbers pose a serious danger' by undermining physicians and health care providers. They also point to a study showing that a majority of jurors believe there must be truth to claims that a product injures people if there are lawsuits against it. 'Tort reform,' as it is often referred to, has long been a priority of corporations and Republicans. ARTA last year intervened in a legal challenge by the Nevada Justice Association and Uber Sexual Assault Survivors for Legal Accountability against the Nevadans for Fair Recovery Act, a ballot measure bankrolled exclusively by the rideshare giant Uber that would cap attorney fees in civil cases. ATRA sided with Uber. The Nevada Supreme Court in January ruled the ballot measure legally deficient, blocking its direct path for consideration by the Legislature or voters. Following that decision, Nevadans for Fair Recovery launched a statewide ad campaign 'to urge state lawmakers to take action and stop frivolous lawsuit abuse.' But the political action committee has no registered lobbyists for the current legislative session.
