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Taking MIF slow, steady
With the period of interpellation on the controversial Maharlika Investment Fund bill ending abruptly early Tuesday, a long list of clarificatory questions by the minority bloc remained unanswered. Voting has been set this week before the senators adjourn sine die on Friday. With the minority having been outvoted again, does this mean the MIF bill, considered a priority measure of the Marcos administration, has a good chance of making it? A House panel, as we know, already approved last Monday amendments to the bill pushing for the creation of a sovereign wealth fund. The committee members agreed during a closed-door executive session to revise some provisions of the bill to ensure there are safeguards in the handling of funds and jail time for those who will violate its stipulations. But what really is the MIF and why does it seem that our lawmakers are such in a hurry to pass it? Economic managers are one in saying that the MIF is aimed at supporting the country’s economic growth and development. Its establishment, proponents say, can generate positive sentiment among international investors, signaling stability and long-term economic planning. This could potentially attract foreign direct investment and stimulate economic growth. The MIF, they claim, can allocate funds for infrastructure projects that can foster regional development and create employment opportunities. A sovereign wealth fund, according to its backers, allows for the diversification of the country’s assets by investing in a variety of sectors and asset classes, such as stocks, bonds and real estate. Diversification mitigates risk and can generate higher returns, bolstering the overall financial stability of the nation. At a cursory glance, it looks like the MIF is indeed the answer to our country’s financial woes. But such is not the case. A lot of critics, including the President’s own sister, Senator Imee Marcos, look at the bill with cynicism, claiming Senate Bill 2020 is still vague and she would not allow its immediate passage. The present form of the Senate version of the MIF bill, she said, is still in the process of amendments. “I will not allow it if ever it will be approved immediately because it’s a huge sum of money, “ she said. “Our children will be buried in debt. It is something that should not be fast-tracked.” One of the concerns in the establishment of a sovereign wealth fund is the need for fiscal discipline and transparency in its management. There is a risk of mismanagement or corruption, which could undermine the fund’s intended purpose and erode public trust. Analysts believe investing a significant portion of the country’s funds in a sovereign wealth fund could divert resources away from other pressing needs, such as education, healthcare, and poverty alleviation. It is crucial, they say, to strike a balance between long-term investments and immediate social and developmental priorities. As with most financial instruments, sovereign wealth funds are not immune to market volatility and risk. Economic downturns or adverse global events can result in significant losses, affecting the value of the fund and potentially impacting the nation’s overall financial stability. Without a doubt, the MIF bill has the potential to bring significant economic benefits to the Philippines, including attracting foreign investment, fostering infrastructure development, and diversifying the country’s assets. However, it also carries inherent risks, such as the need for fiscal discipline, opportunity costs, and market volatility. To maximize the bill’s positive impact, it is crucial to implement robust governance frameworks, prioritize social development, and adopt effective risk management strategies. By carefully addressing these challenges, the Philippines, analysts believe, can harness the potential of a sovereign wealth fund to promote sustainable growth and secure the country’s long-term economic prosperity. It would do well for our solons, therefore, to look at the bill from all angles and see where it will lead us. As Aesop once said, “SLOW AND STEADY WINS THE RACE.” The post Taking MIF slow, steady appeared first on Daily Tribune......»»
Rodtang retains title in ONE Championship’s return to action
31 July 2020 – Bangkok, Thailand: The largest global sports media property in Asian history, ONE Championship™ (ONE), made a successful return to its flagship event schedule, starting off with ONE: NO SURRENDER last Friday night, 31 July in Bangkok. The event was broadcast live around the world from a closed-door, audience-free venue. Once again, the absolute best in local and international martial arts talent showcased their skills in the ONE Championship ring. In the main event, reigning and defending ONE Flyweight Muay Thai World Champion Rodtang “The Iron Man” Jitmuangnon successfully defended his title against former ONE Flyweight Kickboxing World Champion “The Baby Shark” Petchdam Petchyindee Academy after five action-packed rounds. Petchdam established his jab early in the first round, setting up his vaunted left kick. Rodtang was slow to start, as he instead opted to get reads on his opponent from a distance. Rodtang turned up the pressure towards the end of the second round, hunting Petchdam with his trademark boxing combinations and thunderous elbows. In the third round, Rodtang began walking Petchdam down with his punches. The champion caught Petchdam with a left hook, testing the challenger’s chin on wobbly legs, but the latter recovered well. In the fourth round, Rodtang resumed his onslaught, rolling forward like a tank as Petchdam fired away with kicks to the body. In the fifth round, Petchdam again found success with his left roundhouse kick, but it wasn’t enough to thwart Rodtang’s forward pressure. After five fiery rounds, two of three judges scored the bout in favor of Rodtang to win by majority decision, who retaind his title. Reigning ONE Featherweight Muay Thai World Champion Petchmorakot Petchyindee Academy turned in perhaps the most important victory of his career, outlasting legendary Thai striker “The Boxing Computer” Yodsanklai IWE Fairtex to retain his title in the co-main event. The first round saw the legendary Yodsanklai connect on his patented triple uppercut, while Petchmorakot tried to shake off the cobwebs. Petchmorakot upped the aggression in the second round, catching Yodsanklai’s kick as he uncorked a myriad of straight punches to the head. Yodsanklai answered back with slicing elbows, creating a cut on the defending champion’s eyelid. In the third round, Petchmorakot opened up the action with a left elbow, while Yodsanklai countered with a straight left hand down the middle. Petchmorakot increased his punch output in the fourth, tagging Yodsanklai with elbows and straights, but the legend would not surrender. In the fifth and final round, Yodsanklai ambushed Petchmorakot with combinations, while the champion danced away to keep himself safe from range. In the end, Petchmorakot did just enough to earn the victory by a close majority decision. In a ONE Super Series Kickboxing Super-Bout, Thai featherweight talents Superbon and Sitthichai “Killer Kid” Sitsongpeenong figured in a thrilling three-round war of attrition. The first round was close, as both Sitthichai and Superbon traded their best offense at the center of the ONE Championship ring. The second round saw much of the same action, with both men winding up on their kicks and doubling up on their punches, but it was Superbon who started to pull away with a higher output and more impactful strikes. In the third and final round, Sitthichai and Superbon turned on the aggression, attacking each other from multiple angles with neither man willing to take a step backward. In the end, Superbon recorded a hard-earned victory, getting the better of his trilogy with Sitthichai via unanimous decision on the judges’ scorecards. In the mixed martial arts women’s atomweight division, reigning ONE Atomweight Muay Thai World Champion Stamp Fairtex continued her rise through the ranks with another exciting victory. Stamp put together another masterful striking performance, dominating fellow Thai warrior Sunisa “Thunderstorm” Srisen to earn win number five in her young career. At the sound of the first round bell, Stamp came out aggressively, looking for the Thai clinch. Once she had Srisen secured in close quarters, Stamp began unloading on a plethora of hard knees to the midsection. Srisen showed incredible toughness in enduring Stamp’s offensive barrage, but the end came shortly after. Stamp capitalized on a botched takedown from Srisen, winding up on her opponent’s back where she finished the bout with a series of punches. In a mixed martial arts catchweight contest, Brazilian newcomer Fabricio “Wonder Boy” Andrade made an impressive ONE Championship debut, dominating Mark “Tyson” Fairtex Abelardo of New Zealand and the Philippines en route to a spectacular finish within two rounds. Action started off on the feet in the first round, with each man landing significant power shots. Abelardo stalked and chased Andrade across the ring, but the Brazilian showed poise and was able to pick the Filipino-Kiwi apart from the outside. In the second round, Andrade continued his elusive movement, peppering Abelardo from range before swiftly taking his back when the opportunity presented itself. From there, Andrade latched onto in a deep rear-naked choke. Abelardo faded rapidly, and was effectively put to sleep as the referee called a halt to the contest. Kicking off the action at ONE: NO SURRENDER were Thai striking superstars “The Angel Warrior” Panpayak Jitmuangnon and "The Kicking Machine" Superlek Kiatmoo9, who squared off in a three-round ONE Super Series Muay Thai contest. This was the first time the two flyweights met inside the ONE Championship ring, after having faced each other multiple instances before in Thailand’s biggest arenas. Superlek was aggressive to start the bout, connecting on a series of combinations in the opening round. Panpayak scored with a handful of solid counter shots in the second frame, as Superlek continued his onslaught. In the third and final round, Superlek repeatedly found a home for his right kick on Panpayak’s body, as he ran away with a unanimous decision victory on the judges’ scorecards. Official results for ONE: NO SURRENDER ONE Flyweight Muay Thai World Championship: Rodtang Jitmuangnon defeats Petchdam Petchyindee Academy by Majority Decision (MD) after 5 rounds ONE Featherweight Muay Thai World Championship: Petchmorakot Petchyindee Academy defeats Yodsanklai IWE Fairtex by Majority Decision (MD) after 5 rounds Kickboxing Featherweight bout: Superbon defeats Sitthichai Sitsongpeenong by Unanimous Decision (UD) after 3 rounds Mixed Martial Arts Atomweight bout: Stamp Fairtex defeats Sunisa Srisen by TKO (Strikes) at 3:59 minutes of round 1 Mixed Martial Arts Catch Weight (67.0 KG) bout: Fabricio Andrade defeats Mark Fairtex Abelardo by Submission (Rear Naked Choke) at 1:11 minutes of round 2 Muay Thai Flyweight bout: Superlek Kiatmoo9 defeats Panpayak Jitmuangnon by Unanimous Decision (UD) after 3 rounds.....»»
Survey shows Cha-cha still unpopular with Filipinos — Senate leaders
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DOT seeks inclusion in protected areas board amid Chocolate Hills issue
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