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Global stocks weak as ME fears persist
Global stock markets slid Friday on worries that an expected ground invasion of Gaza by Israel would spark a wider conflict in the Middle East. Wall Street stocks declined Friday, as investors looked to lower their risk going into the weekend. The Dow Jones Industrial Average lost 0.9 percent, while the S&P and Nasdaq indexes fell over one percent. The yield on the 10-year US Treasury, which briefly rose this week to levels not seen since 2007 amid concerns the Fed is entering a long period of high-interest rates, slipped slightly. Regina Capital Development Corp. managing director Luis Limlingan added the Federal Reserve has been raising its benchmark lending rate to cool demand and bring down stubborn inflation, with some success. Nevertheless, rates remain stuck above their long-term target of two percent. Local shares ended the week in the red as investors turned more cautious following Fitch Group’s statement that inflation will likely stay elevated for an extended period, Limlingan added. Additionally, the recent statement by Fed Chairperson Jerome Powell “weighed on the local and global markets,” the RCDC executive said. He quoted Powell as saying inflation remains too high and lower economic growth will likely be needed to bring it down. Powell also said he doesn’t think rates are too high now. At the same time, markets are warily eyeing ongoing conflict in the Middle East, for signs it could spread to other countries. “Going into the weekend there is a downward trend as short-term investors try to square positions,” Jack Ablin, Cresset Capital’s chief investment officer, said. “There is an unwillingness from certain investors (to) hold risk positions over the weekend,” he added. Major stock markets in Europe closed down more than one percent, while those in Asia also saw declines. Double geopolitical whammy The US Federal Reserve warned that the recent attack on Israel and the ongoing Ukraine conflict could cause harm to the world economy and boost global inflation. Hamas carried out a deadly attack on Israel from the Gaza Strip on 7 October and killed at least 1,400 people, mostly civilians who were shot, mutilated, or burned to death, according to Israeli officials. “The attack on Israel, in conjunction with Russia’s ongoing war against Ukraine, has ratcheted up geopolitical tensions,” the Fed said in its semi-annual report on financial stability. with AFP The post Global stocks weak as ME fears persist appeared first on Daily Tribune......»»
Bong Go lauds Super Health Center groundbreaking in Biliran
Senator Christopher “Bong” Go commended the Department of Health and the local government of Biliran, including Biliran town Mayor Myra Cabrales and Congressman Gerry Boy Espina, for their successful groundbreaking of the Super Health Center in the province on Tuesday, 17 October. Go underscored the pivotal function that Super Health Centers can fulfill in alleviating the strain on hospitals, enabling the early detection of diseases, and delivering vital healthcare services like primary care and medical consultations to the local community. “Ano po itong Super Health Center? It’s a medium type of a polyclinic. Pwede po diyan ‘yung panganganak, dental, laboratory, x-ray, pagpapabakuna. Alam n’yo naisipan ko po ‘yang Super Health Center noong 2021. Sa kakaikot ko po ng buong Pilipinas, ‘yung mga may sakit anlayo ng byahe, yung mga buntis nanganganak na lang sa tricycle o sa jeepney dahil malalayo ang hospital. Ngayon po magkakaroon na kayo ng sarili ninyong health center. Pwede na po diyan ‘yung panganganak, pagkonsulta, at iba pa,” shared Go. “Malaking tulong po ito na ma-decongest ‘yung mga hospitals. Makakatulong rin sa early disease detection para maagapan ang sakit. Hindi na kailangang ilakbay pa ang pasyente sa ospital,” he added. Super Health Centers shall provide convenient access to basic healthcare delivery, offering a wide range of medical services to communities. These Super Health Centers provide services such as database management, outpatient care, birthing facilities, isolation units, diagnostic services (including laboratory, X-ray, and ultrasound), pharmacies, and ambulatory surgical units. Additional services include eye, ear, nose, and throat (EENT) care, oncology centers, physical therapy and rehabilitation centers, as well as telemedicine for remote diagnosis and treatment. “Sa ating pakikipagtulungan sa DOH, LGUs at mga kapwa nating mambabatas, magkakaroon po ng 307 Super Health Center sa year 2022 at 322 na Super Health Center sa year 2023 sa buong Pilipinas. Marami pa po ’yan sa buong Pilipinas, nakakalat po ‘yan sa mga strategic areas as identified by DOH,” highlighted Go. Apart from Biliran town, the senator also supported the construction of another Super Health Center in Naval in the same province. Furthermore, the senator also encouraged individuals with health concerns to make use of the medical assistance programs accessible at the Malasakit Center situated in Biliran Provincial Hospital. The Malasakit Centers serve as one-stop shops designed to assist particularly poor and indigent patients in minimizing their medical costs to the lowest feasible level through collaboration with various agencies offering medical assistance programs. This initiative was institutionalized under Republic Act No. 11463, a law principally authored and sponsored by Go in the Senate. Presently, there are 159 Malasakit Centers spread across the country, and they have collectively provided support to more than seven million Filipinos, as reported by the Department of Health (DOH). Moreover, echoing President Ferdinand “Bongbong” Marcos, Jr.’s priority of bringing specialized medical services closer to other parts of the country, Go highlighted that he has principally sponsored and is one of the authors of the Regional Specialty Centers Act which was recently enacted into law. The law mandates the establishment of regional specialty centers within existing DOH regional hospitals. It stands as a testament to the commitment of the government to uplift the nation's health infrastructure and bring actual medical services closer to the Filipino people. “Ipagpatuloy natin na ilapit ang serbisyong medikal mula gobyerno sa ating mga kababayang mahihirap na walang ibang matakbuhan. The more we should support their health needs, the more na mag-invest po tayo sa ating healthcare system,” Go said. “Huwag po natin silang pahirapan. Marami po sa mga kababayan natin sa iba’t ibang sulok ng Pilipinas na wala silang sariling health facility. Kaya importante na mailapit natin ang serbisyong medikal mula gobyerno sa mga taong nangangailangan nito,” he stressed. As vice chairman of the Senate Committee on Finance, Go aims to boost the development of the town. He extended his support for several projects, including road improvements in Barangay Villa Consuelo, and the construction of flood control structures in Brgys. Calumpang, Caraycaray, and Larrazabal, and the construction of multipurpose buildings in Brgys. Capinahan, Haguikhikan, Calumpang, and Larrazabal. The post Bong Go lauds Super Health Center groundbreaking in Biliran appeared first on Daily Tribune......»»
Bong Go gives support to rebuilding efforts for fire victims in Caloocan City
Senator Christopher “Bong” Go's team provided assistance to 44 fire victims in Caloocan City on Thursday, September 28. In his video message during his team’s relief activity at Bulwagan ng Katipunan, Go reiterated his support to ensure that families recover from the damages incurred. “Sa mga nasunugan, huwag ho kayong mag-alala. Sabi ko nga sa inyo noon, ang gamit ay nabibili. Ang pera ay kikitain, subalit ‘yung perang kikitain ay hindi po nabibili ang buhay. A lost life is a lost life forever,” said Go. “Pangalagaan at ingatan po natin ang buhay at kalusugan ng bawat isa. Ang importante po magtulungan tayo, sino pa ba ang magtutulungan kung ‘di tayo lang po kapwa natin Pilipino. Kaya po nandirito kami ngayon para tulungan kayong lahat mga kababayan ko,” he added. Go, through his team, provided masks, shirts, and balls for basketball and volleyball to all affected individuals while he also gave away shoes to select recipients. Meanwhile, a team from the National Housing Authority (NHA) extended emergency housing assistance to qualified families to further help them recover and get the materials they need to rebuild their homes. “Mayroon po akong isinusulong na programa noon para sa NHA. Ito po ‘yung pambili ng housing materials. Bibigyan po kayo ngayong araw na ito ng pambili ng materyales tulad ng pako, yero at iba pang kagamitang pampaayos ng bahay. Patuloy nating sinusuportahan ang implementasyon ng programa para makatulong po sa mga nasunugan nating kababayan na makabangon muli,” Go explained. Go also cited that the Bureau of Fire Protection (BFP) is currently undergoing a modernization program following the enactment of Republic Act No. 11589, also known as the BFP Modernization Act of 2021, which he primarily authored and co-sponsored. The Act shall enable the agency to respond faster and more effectively to fire-related incidents in the country as the mandated modernization program shall include procuring new fire equipment, expanding manpower, and conducting specialized training for firefighters, among others. Furthermore, it also mandates the BFP to conduct monthly fire prevention campaigns and information drives in partnership with the Department of the Interior and Local Government and local government units. Go, chairperson of the Senate Committee on Health and Demography, also reached out to residents with health concerns, advising them to utilize the services of any of the 31 Malasakit Centers in Metro Manila, including the one at Dr. Jose N. Rodriguez Memorial Hospital in Caloocan city. Malasakit Centers function as one-stop shops that provide convenient access to medical assistance programs for poor and indigent patients. These programs are offered by various agencies, including the Department of Social Welfare and Development (DSWD), Department of Health (DOH), Philippine Charity Sweepstakes Office, and the Philippine Health Insurance Corporation. Go is the principal author and sponsor of the Malasakit Centers Act of 2019, and there are currently 159 Malasakit Centers nationwide. According to DOH, these centers have helped more than seven million Filipinos. As vice chairperson of the Senate Committee on Finance, Go has also extended his support to several infrastructure initiatives in Caloocan City to help boost its economic growth, such as the construction of multipurpose buildings. The post Bong Go gives support to rebuilding efforts for fire victims in Caloocan City appeared first on Daily Tribune......»»
Bong Go provides help to micro-entrepreneurs in flood-hit General Santos City
Senator Christopher “Bong” Go continues efforts to help boost the economic recovery of communities affected by calamities and other crises. His team delivered aid to flood-stricken micro-entrepreneurs in General Santos City on Thursday, 14 September. Go’s team held the relief operation at the Department of Trade and Industry (DTI) office. Eight small business owners received masks, vitamins, shirts, snacks, and balls for basketball and volleyball while there were also select recipients of shoes from Go. Meanwhile, with the aim of bolstering local communities and nurturing economic recovery, DTI distributed livelihood kits to provide additional support for the recovery of affected micro-businesses. “Ang programang ito ay ating isinulong noong administrasyon ni dating pangulong Duterte at patuloy na sinusuportahan ngayon para maipagpatuloy ang pagtulong sa ating maliliit na negosyante na naapektuhan ng sakuna at krisis,” Go said. “Tuturuan ang mga benepisyaryo na magnegosyo at bibigyan ng negosyo kits para palaguin ito. Masarap sa pakiramdam kapag pinaghirapan at pinagpawisan mo ang iyong negosyo at napalago mo ito. Ang maayos na kabuhayan ang isa sa mga magiging susi sa pagginhawa ng pamumuhay ng iyong pamilya,” he explained further. Moreover, Go reiterated his push for the passage of Senate Bill No. 188, which seeks to establish the Department of Disaster Resilience (DDR), The proposed SBN 188 aims to establish a Cabinet-secretary-level department to develop holistic measures for better disaster preparedness. In his video message, Go highlighted that, if established, the DDR would focus on three critical areas: disaster risk reduction, disaster preparedness and response, and recovery and building forward better. By concentrating on these significant aspects, the proposed department aims to improve the country's ability to mitigate risks, effectively respond to disasters, and facilitate a sustainable recovery process for affected communities. “Parati po akong umiikot sa buong Pilipinas dahil ‘yan po ang aking pangako, pupuntahan ko po kayo basta kaya ng oras at panahon ko… Sunog, lindol, baha, buhawi, putok ng bulkan pinuntahan ko po iyan lahat para makatulong sa abot ng aking makakaya, makabigay ng solusyon sa problema nila, makabigay ng proyekto na makakabenepisyo sa lugar, at makapag-iwan po ng kaunting ngiti sa panahon ng inyong pagdadalamhati,” he said. As chairperson of the Senate Committee on Health and Demography, Go reached out to residents with health concerns and advised them that they may visit the Malasakit Centers at Dr. Jorge P. Royeca Hospital in the city or South Cotabato Provincial Hospital in nearby Koronadal City. Go principally authored and sponsored Republic Act No. 11463, also known as the Malasakit Centers Act of 2019. The center is a one-stop shop where poor and indigent patients may take advantage of the medical assistance programs offered by the Department of Social Welfare and Development (DSWD), Department of Health (DOH), Philippine Charity Sweepstakes Office, and Philippine Health Insurance Corporation. To date, there are now 159 Malasakit Centers nationwide. Apart from the Malasakit Centers, Go has also been pushing for the establishment of more Super Health Centers across the country. In General Santos City, two Super Health Centers have been funded to be established. The Super Health Centers offer basic medical services, such as database management, out-patient, birthing, isolation, isolation, diagnostic (laboratory: x-ray, ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine, through which remote diagnosis and treatment of patients are made possible. “Sa mga kapatid ko, sa mga kapitbahay ko, mag-ingat kayo parati at magdasal tayo. Nandito lang kaming mga lingkod-bayan niyo at handang magserbisyo sa inyong lahat sa abot ng aming makakaya, puntahan niyo lang kami at handa kaming magserbisyo sa inyo sa abot ng aming makakaya,” said Go. As vice chairperson of the Senate Committee on Finance, Go has also supported several projects in the province including the construction of roads in Banga, Lake Sebu, Norala, Tantangan, and Surallah; acquisition of a dump truck for the local government of Norala; construction of riverbank protection in Koronadal City and T’boli; installation of street lights in Koronadal City, Norala and Tupi; and the construction of a slaughterhouse in T’boli. On the same day, Go’s team also provided similar assistance to micro-entrepreneurs also affected by heavy rains in Lutayan and Columbio, Sultan Kudarat. The post Bong Go provides help to micro-entrepreneurs in flood-hit General Santos City appeared first on Daily Tribune......»»
US, Vietnam agree to deepen ties as China worries grow
US President Joe Biden hailed closer ties with Vietnam on Sunday as the two countries struck a deal to deepen cooperation, including on semiconductors, but said he was not aiming to contain China. The "comprehensive strategic partnership" with Hanoi is part of Washington's push to bolster its network of allies around Asia and the Pacific in the face of Beijing's rising influence. Biden accused Beijing of seeking to bend the international order to its will. "One of the things that is going on now is China is beginning to change some of the rules of the game, in terms of trade and other issues," Biden said. Sometimes to Beijing's chagrin, Washington has invested heavily in building alliances as part of its Indo-Pacific strategy, including the Quad security dialogue with India, Australia and Japan, and the AUKUS pact with Britain and Australia. Biden said he wanted establish clear ground rules for relations. "I don't want to contain China. I just want to make sure we have a relationship with China that is on the up and up, squared away, everybody knows what it's all about," he said. Biden flew in to Hanoi straight from a G20 summit that failed to agree to a phase-out of fossil fuels and highlighted deep divisions over the Russian invasion of Ukraine. The US president said he had met Chinese Premier Li Qiang at the G20 -- a meeting the White House had not announced -- and discussed "stability". Semiconductor deal Global supply chain shocks and fears about US reliance on China for strategic resources have further driven the push to boost ties with the likes of Vietnam. The new partnership includes an agreement on semiconductors, with the United States committing to help Vietnam develop its capabilities and expand production. There is also a section on rare earth minerals, which used in the manufacture of high-tech devices such as smartphones and electric car batteries. Vietnam has the world's second-largest deposits of rare earths after China and US officials say it has a key role to play as it looks to diversify and strengthen its supply chains. Biden moved last month to restrict US investment in Chinese technology in sensitive areas including semiconductors, quantum computing and artificial intelligence. "This can be the beginning of even a greater era of cooperation," Biden said as he met Nguyen Phu Trong, the head of Vietnam's ruling Communist Party and the country's paramount leader. "Vietnam and the United States are critical partners at what I would argue is a very critical time." The deal puts the United States on a par with China -- as well as Russia, India and South Korea -- at the top level of the Vietnamese hierarchy of diplomatic relations. Trong thanked Biden for his contribution to improving US-Vietnamese ties and said his country would work hard to implement the new agreement. Although it is careful to be seen as not taking sides between the United States and China, Vietnam shares US concerns about its neighbour's growing assertiveness in the contested South China Sea. However, The New York Times reported just ahead of Biden's visit that Vietnam was secretly arranging to buy arms from Russia in contravention of US sanctions. The report cited a Vietnamese finance ministry document that laid out plans to fund arms purchases from the Kremlin through a joint oil and gas project in Siberia. AFP has contacted the Vietnamese government for comment. US Deputy National Security Advisor Jon Finer told reporters that Washington acknowledged Vietnam's decades-long military relationship with Russia. But he said there was "increasing discomfort on the part of the Vietnamese with that relationship", and the new partnership would help Hanoi "diversify away from those partnerships" by allowing it to source from the United States and its allies. Human rights Biden said he had raised human rights in his meeting with Trong and pledged to "continue our candid dialogue in that regard". Vietnam has a dire rights record. Government critics face intimidation, harassment and imprisonment after unfair trials, and there are reports of police torture to extract confessions, Human Rights Watch says. While Biden has often criticised China's human rights record, he has largely stayed quiet on Vietnam and campaigners feared he may not raise the subject. On Monday Biden visit a Hanoi memorial to his friend John McCain, the former US senator shot down and held captive during the Vietnam War who in later years helped rebuild ties between the two countries. The post US, Vietnam agree to deepen ties as China worries grow appeared first on Daily Tribune......»»
Bring public health services closer
“Health is the greatest of human blessings,” according to Hippocrates, father of Modern Medicine. That is why we continue to make significant strides in improving our health system. The latest of which is the signing into law of the Regional Specialty Centers Act. As the principal sponsor and one of the authors of this measure, I am grateful to President Ferdinand Marcos, Jr., for approving and prioritizing this legislation which will help bring specialized medical care closer to Filipinos in various regions, and hopefully to the most vulnerable groups in grassroots communities. As we aim to make public health more accessible, we must continue such efforts to ensure all Filipinos get the healthcare they deserve. In line with this, the Malasakit Centers we initiated in 2018 have already provided financial medical assistance to more than seven million patients so far. There are 158 Malasakit centers established all over the country through the Malasakit Centers Act of 2019, which I principally authored and sponsored in the Senate. I have also continuously pushed for the establishment of Super Health Centers, which are medium versions of a polyclinic and improved versions of the rural health unit, to make healthcare more accessible to Filipinos even in remote areas. These centers, funded with the help of my fellow legislators and primarily implemented by the Department of Health, shall provide primary health care services in communities that also include consultation, diagnosis, and early detection of diseases. As chair of the Senate Health Committee, I must emphasize the need to bring public health services closer to the people who need them the most. The enactment of the Regional Specialty Centers Act, along with the continuing operations of Malasakit Centers and the establishment of more Super Health Centers nationwide will hopefully bridge this gap and further promote the health and well-being of Filipinos no matter where they are in the country. As a legislator and public servant, I will continue to help improve public service delivery at the grassroots to the best of my capacity so that no Filipino is neglected when it comes to availing government services they need. That is why aside from the health initiatives mentioned above, I also continue to visit communities to deliver assistance, listen to their concerns, and provide solutions to their daily struggles. We were in Laguna on August 25 to inspect the Siniloan Sports Complex which was funded through our efforts as part of our goal as chairperson of the Senate Committee on Sports to promote grassroots sports development and divert our youth from harmful vices like illegal drugs. We then inspected the Isolation Facility of the Infirmary Hospital which we supported during the Duterte administration. We also led the distribution of aid to 500 impoverished residents of Siniloan together with Vice Governor Karen Agapay, Mayor Patrick Go, Vice Mayor Carla Valderrama, and other local officials. Last weekend, I also joined fellow officials and basketball enthusiasts alike in supporting Gilas Pilipinas during the 2023 FIBA World Cup. I commend everyone who took part in ensuring the successful hosting of the FIBA World Cup here in the Philippines. We were invited as a guest speaker on 24 August at the Gender and Development Activity organized by the Provincial Council of Occidental Mindoro. We support these kinds of discussions that aim to promote equal and gender-sensitive leadership. On 23 August, I received the prestigious Apostle Arsenio Ferriol Award of Excellence for Public Service and Governance. I want to express my sincere gratitude to the Pentecostal Missionary Church of Christ (4th Watch) for this very prestigious recognition. With or without an award, I will continue my mission to serve fellow Filipinos, knowing very well that service to the people is service to God. Aside from the awarding ceremony, I also joined them yesterday for their 50th Golden Church Anniversary celebration in New Clark City, Tarlac. I also visited Navotas City on 22 August, together with Mayor John Rey Tiangco and Vice Mayor Tito Sanchez to help 1,000 senior citizens, PWDs, and indigents. We also provided additional support to 1,328 recovering fire victims who were given aid from the National Housing Authority to buy housing materials through their Emergency Housing Assistance Program that we initiated before and continue to support its implementation now. We were also instrumental in the construction of nine public school buildings in Navotas City, some of which we were able to inspect during our visit. My office also continues to assist Filipinos affected by calamities. Among those assisted were typhoon victims in various towns in Cagayan — 500 in Gonzaga; 500 residents in Aparri; 500 in Allacapan; 500 in Pamplona; 500 in Ballesteros; and 500 more in Caoayan, Ilocos Sur. More support was also provided for 35 indigents from different towns of Cotabato Province plus 110 sectoral members in Libungan town; three fire victims of Brgy. Peñaplata in Samal Island; 1,000 residents of Sibalom and almost 250 in Tobias Fornier in Antique; 1,000 beneficiaries in Polomolok, South Cotabato; 66 residents of Malolos Bulacan; 31 residents of General Tinio and 140 more in Gapan, Nueva Ecija. We also extended livelihood support to 14 indigents in Cauayan, Negros Occidental; three farmers in San Lorenzo, Guimaras; and 52 residents of Brgy. Tisa, Cebu City who were previously victims of a fire incident. They were also provided aid through DTI’s Pangkabuhayan sa Pagbangon at Ginhawa (PPG) program, which I pushed for before and continue to support now to boost the livelihood of those affected by various crises. Furthermore, I am also thankful to the President for signing the following into law: Republic Act No. 11961, which I co-authored, amending the National Cultural Heritage Act of 2009, and mandates the creation of a Philippine Registry of Heritage; RA 11958, which I co-authored, that amends RA 6948 to rationalize the disability pension provided to military veterans; and the One Town, One Product Philippines Program, which I authored and co-sponsored, to support the growth of the country’s micro, small, and medium enterprises. While we have accomplished a lot in the past few days in helping those in need and pushing for policies that would uplift the lives of fellow Filipinos, our work must not stop as long as there are more of our kababayans who rely on us for support. As public servants, let us continue to bring the government and its services closer to the people while working together so that no one is left behind toward recovery and progress. The post Bring public health services closer appeared first on Daily Tribune......»»
New gov’t hotline to boost campaign vs child abuse
The Department of Social Welfare and Development urged the public on Friday to utilize the Makabata Helpline 1383 to report cases of child abuse. The Makabata Helpline is a mechanism developed by the Council for the Welfare of Children (CWC), an attached agency of the DSWD, to provide immediate response, monitoring, and feedback via calls, electronic mail, and different social media platforms about all child rights and concerns. These include legal queries, psychosocial support, referral services to appropriate agencies involved in safeguarding children’s rights, and reporting of child abuse and emergency cases, among others. Since its launch in November 2022, a total of 156 reports via text, calls, emails, and chat have been received by the helpline, of which, 76.28 percent of cases were closed, while 19.23 percent are pending with limited traction and 4.48 percent are on-going. “The CWC is consistently seeking out partnerships with non-government organizations and national government agencies to strengthen the implementation of the Makabata Helpline 1383 because we believe that this mechanism will truly help us to protect and uphold the rights of children,” DSWD Assistant Secretary for Strategic Communications Romel Lopez said. Lopez, who is also the DSWD spokesperson, reminded the public not to use the hotline for prank calls or false inquiries. “We continue to remind the public that this hotline must only be used for emergency cases. So please avoid making prank calls or false reports because it may cause grave consequences for those who are in distress,” Lopez explained. The post New gov’t hotline to boost campaign vs child abuse appeared first on Daily Tribune......»»
Teddy Boy named special envoy to China
President Ferdinand Marcos Jr. has appointed Teodoro “Teddy Boy” Locsin Jr. as the President’s Special Envoy to the People’s Republic of China for Special Concerns, the Presidential Communications Office announced on Wednesday in a Facebook post. Locsin’s recent appointment came amid the resurgence of tensions in the West Philippine Sea between China and the Philippines. In a Viber message to Palace reporters, Communications Secretary Cheloy Garafil said Marcos appointed Locsin to boost the bilateral relations between the two countries. Locsin, who is the Foreign Affairs Secretary of then-President Rodrigo R. Duterte from 17 October to 30 June 2022, takes on the new task “in a concurrent position” as the Philippine Ambassador to the United Kingdom of Great Britain and Northern Ireland. The Chief Executive appointed Locsin UK ambassador with jurisdiction over Ireland, Isle of Man, Bailiwick of Jersey, and Bailiwick of Guernsey on 30 August 2022. During his tenure, he frequently lodged numerous diplomatic complaints and occasionally used the social media platform X (formerly Twitter) to criticize China. The newly-appointed special envoy is the son and namesake of Teodoro Locsin Sr., a journalist who was imprisoned during the 1970s for criticizing President Ferdinand Marcos Sr., the father of now President Ferdinand Marcos Jr. Following the overthrow of Marcos Sr. in 1986, the younger Locsin became the speechwriter and legal advisor to President Corazon Aquino. Subsequently, he wrote speeches for Presidents Joseph Estrada and Gloria Macapagal-Arroyo. He was elected Makati 1st District representative in 2001, a seat he held until 2010. Holding a master’s degree in law from Harvard University, Locsin is a lawyer and a media figure. The post Teddy Boy named special envoy to China appeared first on Daily Tribune......»»
China stops releasing youth jobs data as economic figures disappoint
China said it would stop publishing data on its rising youth unemployment rate on Tuesday, as it released a raft of disappointing figures that stoked concerns over the state of the world's second largest economy. Shortly before the latest uninspiring indicators were published, the central bank cut a key interest rate in an effort to boost flagging growth. Tuesday's data added to a slew of disappointing figures in recent months reflecting a slump in China's post-Covid rebound, with joblessness among 16- to 24-year-olds hitting a record 21.3 percent in June. The country slipped into deflation for the first time in more than two years in July, due to waning consumption and flagging exports. The National Bureau of Statistics on Tuesday said it would no longer release age-group-specific unemployment data starting this month, citing the need to "further improve and optimise labour force survey statistics". "Starting from this August, the release of urban unemployment rates for youth and other age groups across the country will be suspended," bureau spokesman Fu Linghui said at a press conference. Overall, unemployment rose to 5.3 percent in July compared with 5.2 percent in June, the NBS said. As indicators of an economic slowdown have piled up, many experts have called for a large-scale recovery plan to boost activity. But for the time being, authorities are sticking to targeted measures and declarations of support for the private sector -- with little in the way of tangible steps. Slowing retail sales Tuesday's announcement that youth unemployment data would be suspended came as Beijing released a series of weak economic indicators for July. Retail sales, a key gauge of consumption, grew 2.5 percent year-on-year in July, the NBS said, down from 3.1 percent in June and falling short of analyst expectations. Industrial production grew 3.7 percent in July from a year ago, down from 4.4 percent in June. The suspension of youth jobs data "may further weaken global investors' confidence in China", Ting Lu, China economist at Nomura, said in a note. Chinese social media users on Tuesday were skeptical of officials' explanation for the move, with the topic receiving over 140 million views and tens of thousands of comments on the Weibo platform. "Can you solve the problem by gagging and blindfolding yourself?" asked one Beijing-based user in a post liked by more than 3,000 people. Chinese leaders have sought to boost domestic consumption in recent weeks, with the State Council last month releasing a 20-point plan to encourage citizens to spend more in sectors including vehicles, tourism and home appliances. The country's top brass has warned that the economy faces "new difficulties and challenges" as well as "hidden dangers in key areas". The recent data suggests China may struggle to achieve a five percent growth target set for the year. The economy grew just 0.8 percent between the first and second quarters of 2023, according to official figures. Rate cut In a surprise move, the central bank on Tuesday cut the medium-term lending facility rate -- the interest for one-year loans to financial institutions -- from 2.65 percent to 2.5 percent. A lower MLF rate reduces commercial banks' financing costs, in turn encouraging them to lend more and potentially boosting domestic consumption. "We believe the Chinese economy is faced with an imminent downward spiral with the worst yet to come, and the rate cut this morning will be of limited help," Lu of Nomura said. The Consumer Price Index, the main gauge of inflation, fell 0.3 percent in July, the National Bureau of Statistics said last week. China slipped into deflation in July for the first time in more than two years, after a short period of deflation at the end of 2020 due largely to a collapse in the price of pork, the most widely consumed meat in the country. While cheaper goods may appear beneficial for purchasing power, falling prices pose a threat to the broader economy as consumers tend to postpone purchases in the hopes of further reductions. A lack of demand then forces companies to reduce production, freeze hiring or lay off workers, and agree to new discounts to sell off their stocks -- dampening profitability even as costs remain the same. The post China stops releasing youth jobs data as economic figures disappoint appeared first on Daily Tribune......»»
An old antibiotic may get new life as an STI prevention pill
The United States is set to roll out a powerful new weapon in the long fight against sexually transmitted infections: a decades-old antibiotic repurposed as a preventative pill. DoxyPEP, or doxycycline used as a post-exposure prophylaxis, has been found to significantly cut the risk of chlamydia, gonorrhea and syphilis when used after condomless sex. The Center for Disease Control and Prevention (CDC), which is developing national guidance for clinicians, will need to weigh the need to contain record high rates of STIs impacting millions of Americans against potentially giving rise to more antibiotic-resistant strains. "Innovation and creativity matter in public health, and more tools are desperately needed," senior CDC official Jonathan Mermin told AFP. But the recommendations, set for publication this summer, will remain narrow in scope. They will likely target only the most at-risk groups of gay men and transgender women with histories of prior infection. As word spreads, some clinics are already prescribing DoxyPEP. Malik, a 37-year-old man in Washington, said his doctor recently told him he could start using doxycycline as a "morning-after pill" following risky sex, something he's had to do twice -- including after a partner did not warn him he had removed his condom. Two-thirds reduction Reported cases of the three bacterial infections grew to 2.5 million in the United States in 2021, following about a decade of growth. Several issues are behind the rise: fewer people are using condoms since the advent of PrEP -- daily pills that significantly reduce chances of contracting HIV. And people who are on PrEP are recommended to undergo screening every three months, likely increasing the identification of infections. Then there is the basic epidemiological fact that the greater the number of people infected, the more they can further infect. Researchers have found DoxyPEP efficacious in three of four trials. "What we found was there was about a two-thirds reduction in sexually transmitted infection every three months," Annie Luetkemeyer, who co-led a US trial, told AFP. The physician-scientist at the University of California, San Francisco recruited some 500 people in San Francisco and Seattle among communities of men who have sex with men and transgender women. Efficacy was greatest for chlamydia and syphilis, both of which were reduced by about 80 percent, while for gonorrhea it was about 55 percent. There were few side effects. Antibiotic resistance Broadening access to doxycycline has prompted concerns about causing antibiotic resistance, particularly in gonorrhea, which is fast mutating. But early research hasn't shown cause for alarm. Connie Celum of the University of Washington, who co-led the US study, told AFP researchers tested gonorrhea samples from breakthrough infections in the DoxyPEP group and compared them to the group who didn't receive the pill. Though they found the rate of resistant gonorrhea slightly higher in the DoxyPEP group, she says the finding could simply mean the pill is less effective against already resistant strains, rather than causing that resistance. DoxyPEP could even boost responsible antibiotic stewardship -- cutting the incidence of infections, thus also cutting need for antibiotic treatment. If it slashed gonorrhea cases by some 50 percent, it could reduce the number of people requiring antibiotic treatment with the current frontline treatment drug, ceftriaxone, which doctors are eager to preserve. Longer term study is required, on both impacts on STIs but also "bystander" bacteria such as Staphylococcus aureus, which live inside people's noses but sometimes cause serious infections. 'Additional tool' Malik said that while he is glad he could use DoxyPEP as a last resort, he wishes more men were willing to use condoms. Since moving to America from South Asia, he gets relatively little interest on dating app Grindr when he says he's not willing to have condomless sex. But Stephen Abbott -- a doctor at Washington's Whitman-Walker clinic who prescribes and uses DoxyPEP -- said it's crucial to meet people where they are. "From speaking with patients, and being part of the community that's now on PrEP... I think the age of prevention through condoms is fading," he told AFP. A 42-year-old man in London who runs a cultural organization told AFP that word had spread about DoxyPEP through the international gay party circuit and he had procured a supply on the black market and through a partner who buys in bulk in Mexico. It had largely worked for him, though he did have one breakthrough infection of throat gonorrhea. He said he was looking forward to the United Kingdom adopting similar guidance so that people have the right information and aren't left to guess at the right dosage. For Luetkemeyer, DoxyPEP won't be "the answer" to the STI epidemic, and there is considerable interest in the development of a gonorrhea vaccine. "But I'm optimistic... I think this is an additional tool," she said. The post An old antibiotic may get new life as an STI prevention pill appeared first on Daily Tribune......»»
PBBM challenges new Army chief: Learn best practices from counterparts
President Ferdinand “Bongbong” Marcos Jr. challenged the new commanding general of the Philippine Army to lead and boost the institution’s engagements with its foreign counterparts through joint exercises. “I urge the entirety of our army to enhance your interoperability and communications as well as to learn best practices through training and joint exercises which we intend to further expand,” Marcos said during his speech as he graced the change of command between former Army Chief, Gen. Romeo Brawner Jr. and the new Army Commander, LtGen Roy Galido, at the Army headquarters in Fort Bonifacio, Taguig on Monday. Marcos said he is looking forward to Galido’s plans on protecting the country and transforming the army into a world-class force. He also reaffirmed that his administration is committed to supporting the modernization of the Armed Forces of the Philippines. “Hand-in-hand, we will work together to heighten the external security of the Philippines to create a more conducive environment for the comprehensive growth and empowerment of the Filipinos," he said. In his speech, Marcos also congratulated Brawner for completing his two tours of duty in the army institution and lauded him for developing the army into a "progressive and resilient force." Marcos noted that Brawner’s leadership has established the army’s triumph against insurgency and terrorism, provided a huge contribution to the government’s intensified peace-building efforts. “Through your initiatives to fortify our internal security, the Philippine Army has contributed to the development of conflict-affected communities and our overall progress as a nation,” he said. Marcos, meanwhile, expressed optimism that Galido will be able to guide the army in reaching more milestones in the country’s campaign to end insurgency and tourism threats, especially in the efforts against "lingering and emerging concerns regarding the national security” in the Philippines. “As you take the reign of the army, I wish to remind you that the success of an organization depends on the willingness to work persistently with the citizenry and with the civilian government,” Marcos urged Galido. In congratulating the 66th Army Commanding General, Marcos challenged Galido to boost the Army institution into an organized and adaptable force that will protect the country against all kinds of security threats. “With the supervision, dedication and perseverance of LtGen. Galido and the rest of our troops in the Philippine Army, I am confident that we can rightfully achieve this in no time at all,” Marcos said. In response, Galido vowed to continue pushing for the army’s highest standard of discipline as well as more agile and adaptable regular soldiers and reserve forces that will defend and protect the country’s sovereignty and serve as effective civil servants as well. After improving the “art of war,” Galido said the Philippine Army will now improve its existing programs that will further boost the morale of soldiers including the goal of achieving a healthy lifestyle, establishing a good working and living environment as well as good leadership and quality training. “We will push for better soldiers,” he said. Under his leadeship, Galido likewise assured that the Philippine Army will properly utilize its financial, logistics, manpower and time resources. The post PBBM challenges new Army chief: Learn best practices from counterparts appeared first on Daily Tribune......»»
Kwentoon joins Globe’s Hapag Movement to boost local talent, combat hunger
In a unique blend of art and social awareness, Kwentoon, a Philippine start-up connecting young audiences to thoughtfully selected visual content, has teamed up with the Hapag Movement to help address involuntary hunger. As part of this advocacy, 10 percent of every ticket sold at the recently held Kwentoon Festival 2023 will be donated to the Globe-led movement, a social initiative aimed at eradicating involuntary hunger through supplemental feeding and livelihood training for struggling Filipinos. Kwentoon Festival 2023 was held at SM Megatrade Hall 3, with over 150 exhibitors and artists and 1,439 visitors. The event showcased a range of activities, including workshops, talks and the Mango Boot Camp Graduation in partnership with the Intellectual Property Office of the Philippines. One of the event's highlights was the Philippine Children's Content Awards, which aims to recognize the creativity and originality of Filipino comic artists or the so called “kwentoons.” "We are excited to be part of the Hapag Movement, not only to promote homegrown talent but to also address pressing societal concerns," said Isa Songco, Kwentoon co-founder. “Filipino artists are actually very good but unfortunately a lot of them get outsourced by firms overseas. That is why when it comes to animation or manga, there is not a lot of intellectual property from the Philippines. So our progression is actually delayed in comparison to our neighboring countries. Recognizing the imperative for local job creation, we hold the Hapag Movement dear to our hearts. This initiative not only fights hunger but also creates a wealth of opportunities for our fellow Filipinos,” Songco added. Yoly Crisanto, Globe Group chief sustainability and corporate communications officer, thanked Kwentoon for its support as she cited the community’s unique opportunity to use art as a way to raise awareness about social issues, particularly hunger. “Art has the ability to evoke empathy and compassion like no other medium can. We are grateful to have Kwentoon as a partner in the Hapag Movement and to have on board visual storytellers who can draw attention to the problem of involuntary hunger through art,” Crisanto said. Established in 2020, Kwentoon aims to inspire and equip local artists to create kid-friendly visual narratives. It connects young audiences to curated content that promotes the values of love of country and family, camaraderie and hope. The post Kwentoon joins Globe’s Hapag Movement to boost local talent, combat hunger appeared first on Daily Tribune......»»
Pursuing sustainable dev’t, food security
Asia is the world's largest rice consumer, accounting for 90 percent of global rice consumption. According to a business website that made use of data from the U.S. Department of Agriculture's Foreign Agricultural Service, the Philippines is among the top 20 countries with the highest rice consumption per capita. Data shows that the country's almost 113 million population consumes around 16.50 million metric tons of rice every year. The affordability and availability of rice have been cited as the primary reasons for Filipinos' penchant for eating rice. Thus, the proliferation of restaurants in the country serving "unlimited rice" has always been a fool-proof marketing strategy to entice customers. India's announcement in July that it would restrict the export of non-basmati rice has jolted not just the country but the global rice market. India is the world's largest rice exporter, accounting for over 40 percent of the global rice trade. It is on this note that I am calling for stronger government interventions in the agricultural sector. Unfortunately, India's decision comes at a time when the country is grappling with flooded rice fields as a result of recent calamities. But we cannot blame India for its decision to prioritize its domestic market. We have to be prepared as this could trigger a rice crisis affecting millions of Filipinos who consider rice a staple food. It is high time that we provide our local farmers with much-needed support to boost domestic rice production by offering them drought-resistant rice seeds, more fertilizers, additional irrigation, increased training, and easy access to credit facilities with low-interest rates. Our government must focus on short-term remedies such as exploring alternative sources like Vietnam and Thailand. But more importantly, we must implement long-term interventions that will lead to sustainable rice production. I have always been an advocate of sustainability and self-sufficiency to achieve food security which is a top priority of the current administration. Meanwhile, I have remained committed to visiting various parts of the country, not only to provide assistance but also to address the concerns of our people. On 5 August, we attended the blessing and ribbon-cutting ceremony of the two-storey Malasakit Center Building at Cotabato Regional and Medical Center in Cotabato City. We aided 647 patients and 2,535 medical frontliners including security guards, utilities, and other hospital staff. Meanwhile, qualified beneficiaries were given financial assistance from the Department of Social Welfare and Development. Joining us were CRMC Chief of the Hospital, Dr. Ishmael Dimaren, Maguindanao del Norte Rep. Bai Dimple Mastura, Matnog Mayor Zohria Bansel-Guro, Sultan Kudarat Mayor Tucao Mastura, and Vice Mayor Shameem Mastura. We also participated in the inauguration of the new Super Health Center (SHC) in the town of Libungan, where we assisted 1,000 indigent beneficiaries together with Vice Governor Efren Piñol, former vice governor Shirlyn Macasarte, Mayor Angel Rose Cuan and Vice Mayor Jims Fullecido. At the invitation of Mayor Angel Rose Cuan, we attended the town's Inter-Barangay Basketball Championship as part of its 62nd Founding Anniversary and 8th Katambolit Festival. We then headed to Midsayap to attend the groundbreaking of the SHC and assist 1,000 struggling residents together with Rep. Samantha Santos, Vice Gov. Efren Piñol, Mayor Rolando Sacdalan, and Vice Mayor Vivencio Deomampo Jr. On 4 August, we witnessed the groundbreaking of the SHC to be built in Monkayo, Davao de Oro. We visited the construction and renovation of the public market funded through our efforts. We also distributed assistance to 1,000 indigents in the area accompanied by Congresswoman Maria Carmen Zamora, Vice Governor Jayvee Uy, and Board Member Herv Apsay, among others. On 3 August, we were in Batangas to witness the groundbreaking of the Batangas Provincial Medical Center (New Provincial Hospital) in the municipality of Tuy. We also led the distribution of aid to 1,700 residents, with the support of Governor Dodo Mandanas. We were joined by Vice Gov. Mark Leviste, Congressmen Eric Buhain and Ray Reyes, Tuy Mayor Jose Jecerell Cerrado, San Luis Mayor Oscar Lito Hernandez, Vice Mayor Maan de Gracia, Lian Vice Mayor Ronin Leviste, and other local officials. We then went to Davao City to attend the 1st General Assembly of the Philippine Councilors League-Occidental Mindoro. On 2 August, we visited Caloocan City and witnessed the groundbreaking of the SHC, along with Health Secretary Ted Herbosa, Congresswoman Mitch Cajayon-Uy, Congressman Oca Malapitan, Mayor Along Malapitan, and Vice Mayor Karina Teh. We distributed aid to 980 impoverished residents in collaboration with the offices of Cong. Cajayon-Uy, Councilor Ed Aruelo, and Councilor Wewel De Leon. For those affected by Typhoon Egay, we distributed food packs and assisted 5,000 beneficiaries in Minalin, Arayat, and various towns in Pampanga; 500 in Bauang, La Union; 700 in Calumpit, and 1,700 residents from Hagonoy, Guiguinto, and San Miguel in Bulacan; 900 in Dagupan City, San Fabian, and Calasiao in Pangasinan; 200 in Binangonan, Rizal; and 200 in San Antonio, Zambales. We also assisted 89 fire victims in various barangays in Bacolod City, Negros Occidental. We also provided help to 1,200 impoverished residents of Cabanatuan City, Nueva Ecija; 1,049 in San Pedro City, Laguna; 800 in Tabaco City, Albay; and 67 more in Pulupandan, Negros Occidental. We also helped people in Bulacan, including 66 in Santa Maria, 66 in Paombong, 66 in Baliwag, 66 in Bustos, 66 in Obando, and 66 in Norzagaray. In Batangas, we also assisted 500 beneficiaries from Calaca, 400 in Tanauan City, and 57 more in Batangas City. The post Pursuing sustainable dev’t, food security appeared first on Daily Tribune......»»
Step in the right direction
Resuming free trade talks with the European Union or EU holds immense importance for the Philippines in the pursuit of economic prosperity and sustainability. This is because, in an interconnected world, international trade serves as a catalyst for economic growth and development. As a rapidly emerging market in Southeast Asia, the country, therefore, stands to gain substantial economic benefits, the EU being one of the world’s largest economies. A renewed trade agreement, as initiated by President Ferdinand Marcos Jr. and European Commission President Ursula von der Leyen during the latter’s recent visit, would foster increased bilateral trade and investment that could lead to a diversified market for Philippine products, enabling us to access over 450 million consumers in Europe. Moreover, such collaboration could pave the way for enhanced foreign direct investment, further bolstering the country’s economic growth prospects. By re-establishing trade talks, the Philippines gains the opportunity to access the vast EU market without significant trade barriers. This would promote exports of various Philippine goods and services, including agricultural products, electronics, textiles and services like business process outsourcing. The removal of tariffs and non-tariff barriers would make Philippine goods more competitive in the European market, increasing the country’s export potential and contributing to a more balanced trade relationship. Engaging in free trade talks with the EU can also foster technology transfer and innovation. The EU is a global leader in research and development, especially in sectors like renewable energy, information technology and biotechnology. Collaborating with the EU would enable the Philippines to access advanced technologies and expertise, thus catalyzing industrial growth and modernization. Moreover, the infusion of modern technologies would lead to increased productivity and efficiency in various sectors, ensuring that the Philippines remains competitive on the global stage. The resumption of free trade talks with the EU offers an opportunity to address environmental and social concerns and promote sustainable development. This is because the EU places a strong emphasis on sustainable practices and has stringent environmental and labor standards. By aligning with EU regulations, the Philippines can improve its environmental practices, ensure fair labor conditions, and boost the country’s image as a responsible trading partner. Sustainable development not only benefits the environment and society but also enhances the country’s appeal to international investors and consumers who prioritize ethical and environmentally friendly products. Beyond the economic advantages, renewing trade talks with the EU has significant geopolitical implications for the Philippines. It reinforces the country’s commitment to open trade and multilateralism amid growing protectionist sentiments in various parts of the world. Moreover, strengthening ties with the EU can lead to deeper diplomatic cooperation, providing the Philippines with greater geopolitical leverage in regional and international forums. Such alliances can help the Philippines address geopolitical challenges and work towards shared goals, including climate change, peacekeeping, and humanitarian efforts. It is therefore of paramount importance for the Philippines to resume such free trade talks with one of the world’s biggest economies. The potential economic benefits, enhanced market access, technological advancements, sustainable development prospects, and geopolitical implications make it a strategic move. By fostering a closer economic relationship with the EU, the Philippines can diversify its markets, attract more investments, access advanced technologies, and promote sustainable practices. Furthermore, it signals the country’s commitment to open trade and collaboration in an interconnected global economy. The post Step in the right direction appeared first on Daily Tribune......»»
DA admits rice supply tight
Ever the optimist, President Ferdinand Marcos Jr. assured the public on Tuesday the country has enough rice buffer stocks amid the agricultural damage wrought by typhoon “Egay” in Northern Luzon. In a short video message, Mr. Marcos said he had met with Department of Agriculture officials after “Egay” hit Northern Luzon and caused about P1.94 billion worth of damage to agriculture. He said he discussed the effects of the typhoon on rice production and how to ensure there will be enough rice stocks. “As of now, it appears that the supply is okay,” Marcos said. The President made the assurance after the National Food Authority, or NFA, said its buffer stock of rice was good only for two days and that it has to import 1.3 million metric tons to replenish this. In a Malacañang press briefing, DA Undersecretary Mercedita Sombilla revealed the government has received applications to import, and the sanitary and phytosanitary import certificates were being processed. “I think we really need the help of the private sector in situations like this,” Sombilla said. “Their support is crucial in a situation like this.” The DA said it was also looking at ways to boost the NFA’s buffer stock through contract-growing, among other measures, like asking rice cooperatives and farmers to sell all that they produce to the NFA. The government’s decision to import rice comes amid concerns about the tight rice supply. The Rice Tariffication Law mandates a nine-day buffer stock, but the NFA’s current inventory is seven days short of that. The DA was apparently caught unaware by the NFA pronouncement. “I will have to talk, to discuss (with the NFA) how they are coming up with that two days (of buffer stock). But, of course, their stocks really are very low,” Sombilla said. “I’m not sure if the two-day buffer stock is applicable nationwide,” she added, pointing out that the NFA’s stock “is intended for emergencies.” Also on Tuesday, the DA warned unscrupulous traders not to jack up rice prices on account of the weather disturbances. “This July, we were hit by typhoons. Based on our price monitoring, the prices of rice and vegetables went up, especially our imported rice,” said DA Deputy spokesperson Rex Estoperez. He said they had monitored price increases of P1.50 to P2 per kilo of rice following the recent typhoons. “Some traders are only after profits. We are asking them to keep prices reasonable. In our monitoring, rice prices had increased by P1.50 to P2 per kilo,” he added. Estoperez urged the public to stop buying more rice than they need. “If we panic, that will put more pressure on supply and prices,” he said. Local traders, on the other hand, blamed the rising prices of rice imported from Vietnam, Thailand and India for the increase in local retail prices. “Private traders are scaling down their imports because of rising international prices while holding on to their stocks and waiting for local prices to go up further,” said Raul Montemayor of the Federation of Free Farmers. Likewise, July and August are lean rice harvest months, he said. “If imports do not come in as needed in the coming months, we could have very tight supplies before harvests start in late September and peak in October and November. The typhoons could further delay harvests since farmers will have to replant,” Montemayor explained. He said the NFA can only stabilize the price of rice if it has enough inventory, but it has a low buffer stock because it failed to buy rice from local farmers due to the low prices it offered. The DA had previously said there was enough rice to cover year-round requirements despite the effects of the typhoons. ‘Importing again’ Noting the NFA pronouncement, the President said the government has already looked at rice sources, whether local or foreign, to purchase the Filipinos’ staple grain. “We have already made a schedule on where we will source our production, where we will make local purchases and, if necessary, we will proceed with importing again, Marcos said. “It’s good that in our discussion, we observed that our rice imports are decreasing. However, in emergencies like this, we need to assess whether there is still a need for rice importation,” he said. The DA will send 111,873 bags of rice seeds, 14,426 bags of corn seeds, and 2,582 kilos of different vegetable seeds to areas hit by Egay to increase local production and support. The post DA admits rice supply tight appeared first on Daily Tribune......»»
Microsoft profits soar, key cloud business slows
Microsoft's quarterly profits soared, the company said Tuesday, as its big push into artificial intelligence seemed to be bearing fruit but growth in its key cloud computing business slowed. An earnings statement reported that net profit for Microsoft was $20.1 billion in the April to June period, up 20 percent year-on-year and above expectations. The company posted $56.2 billion in sales for the quarter, which also beat expectations. Even though its share price slipped in after-hours trading, the 48-year-old tech titan remains the world's second most valuable company after Apple, with a market capitalization of $2.6 trillion. Microsoft shares had lifted off last week when the company said it would charge $30 extra per user to turbocharge its Microsoft 365 product -- which includes Word, Excel, and Teams -- with AI powers. This was an extra boost to a stellar year for Microsoft, whose big gamble on AI has so far been rewarded with a share price hike of about 45 percent this year. The heart of the company's activity is the Azure cloud service, which competes with Amazon's AWS and Google Cloud to offer businesses their computing needs. Demand for cloud computing slowed after a historic surge during the pandemic, and Microsoft and its rivals hope that the extra computing demands needed for AI will revive sales. The tech giant said Azure and other cloud services saw revenue growth of 26 percent year-over-year, down slightly from the previous quarter. Microsoft began 2023 with an announcement that it had entered into a close relationship with OpenAI, the company behind ChatGPT. The Redmond, Washington-based company swiftly integrated ChatGPT's powers into its Bing search engine, breathing new life into a product that has been unable to compete with Google. Microsoft has also pressed on with its big move to expand beyond its popular Xbox video game console by buying Activision Blizzard for $75 billion. The deal has faced major regulatory scrutiny over competition concerns, but after an effort by US authorities to block the deal failed in court, the move looks likely to succeed. The post Microsoft profits soar, key cloud business slows appeared first on Daily Tribune......»»
Ifugao farmers receives land titles
The Department of Agrarian Reform on Friday reported that 51 agrarian reform beneficiaries (ARBs) in Ifugao province received a total of 54 land titles covering 51.28 hectares of agricultural lands to boost the economic lives of these farmers in the province. DAR-Ifugao Provincial Agrarian Reform Program Officer II, Joselito Nathaniel Diaz, said the ARBs were from Barangays Pinto, Busilac, Laya, Sta. Maria, Ngileb, and Sto. Domingo. “Among the distributed land titles, 15 were regular titles issued through the regular re-documentation under the Comprehensive Agrarian Reform Program (CARP), while 35 electronic land titles (e-titles) were distributed through the Support to Parcelization of Lands for Individual Titling (SPLIT) project,” Diaz said. SPLIT Project is a DAR initiative program funded by the World Bank, where it aims to subdivide landholdings of ARBs who were previously awarded lands under the collective certificate of land ownership award (CCLOA) for the eventual issuance of individual land titles. Diaz divulged that the distribution of land titles is in consonance with the directive of President Ferdinand Marcos Jr., through the leadership of DAR Secretary Conrado Estrella III, to provide farmers with agricultural lands to till and also in line with the celebration of CARP’s 35th anniversary. "Nurture, enhance, and make the lands productive. I encouraged you to collaborate with the DAR in enriching your lands that would help improve your economic lives,” he told the ARBs. An open forum concluded the event, addressing complex concerns including lost mother titles, name of transfer of titles, inaccurate names, and donated cemetery lot titles. Each concern received careful attention and was successfully resolved, ensuring the satisfaction of all participants. The post Ifugao farmers receives land titles appeared first on Daily Tribune......»»
QC, DTI to integrate business name registrations
The local government of Quezon City and the Department of Trade and Industry announced Thursday that they have agreed to integrate the latter’s Business Name Registration System into the city’s Online Business Permit Application System to allow a seamless verification process and further boost ease of doing business. Quezon City Mayor Joy Belmonte and Trade Secretary Alfredo Pascual signed the memorandum of agreement for the integration which is expected to streamline business processes, detect fraudulent submission of requirements and effectively monitor compliance of QC-based businesses. “Since one of the requirements for processing the business permits of sole proprietors is the certificate of business name registration from DTI, we need to ensure compliance. Instead of manually verifying the authenticity of CBNRs, the integration will allow digital processing of data and documents thereby speeding up the process,” Belmonte said. Based on DTI’s data, business name applications processed online grew from 35 percent to 75 percent based on payment collections received since the development and launch of the BNRS Next Gen in 2019 while Quezon City is home to more than 65,000 businesses with almost half of them being DTI-registered. “So we deem it imperative to track growth, regularly monitor compliance, and gather necessary data for policies and programs,” said the QC mayor. With the integration of DTI’s BNRS into QC’s digital platform, Business Permits, and Licensing Department head Margarita Santos said concerns such as the submission of fake BNRS will be addressed. “This will also pave the way for faster evaluation of permit applications through an automated, system-to-system verification,” Belmonte said. The post QC, DTI to integrate business name registrations appeared first on Daily Tribune......»»
MIF Law: Is it good for Phl?
The signing into law of the Maharlika Investment Fund or MIF bill has sparked significant debate among its proponents and the opposition. Supporters argue that the law will bring numerous advantages to the country’s economy, while critics express concerns about potential disadvantages. Experts believe that one of the primary advantages of the MIF is its potential to stimulate economic growth. By pooling resources from various sources, including government funds and private investments, the new law aims to finance infrastructure projects and other development initiatives. These investments can enhance transportation networks, communication systems, and energy infrastructure, which are vital for economic progress. The infusion of capital through the MIF, it is said, can likewise generate employment opportunities in the country. Infrastructure projects often require a large workforce, providing jobs for both skilled and unskilled laborers. Increased employment rates can boost income levels, alleviate poverty, and improve living standards for many Filipinos. The establishment of the MIF, according to proponents, will attract foreign investors to the country. The fund’s purpose of financing infrastructure projects can create a favorable investment climate, encouraging foreign companies to participate in the country’s development. This influx of foreign capital can strengthen the economy, promote technological advancements, and foster international collaboration. The Maharlika Fund emphasizes promoting regional development, aiming to distribute resources and opportunities more evenly across the Philippines. By investing in infrastructure and industries outside of major urban centers, the bill seeks to reduce regional disparities and stimulate growth in rural areas. This balanced development can lead to reduced migration to overcrowded cities, alleviate congestion, and improve overall socio-economic conditions in the regions. While there are inherent advantages, critics, however, have expressed concerns about the potential lack of transparency and accountability in the allocation of funds. Without strict oversight and transparency mechanisms, there is a risk of corruption and mismanagement of funds, leading to wasted resources and undermining the intended benefits of the law. It is crucial to establish robust monitoring systems and stringent auditing procedures to ensure that funds are allocated efficiently and effectively. Implementing large-scale infrastructure projects funded by the MIF may increase the country’s debt burden. If not carefully managed, this could strain the national economy and divert resources away from essential services such as education and healthcare. It is crucial to strike a balance between infrastructure development and maintaining fiscal discipline to avoid unsustainable levels of debt. While infrastructure development is vital for economic progress, it can also have adverse environmental consequences. Large-scale projects may lead to deforestation, habitat destruction, and increased carbon emissions. It is crucial for the MIF to incorporate sustainable practices and prioritize environmental impact assessments to minimize ecological harm and promote sustainable development. Critics argue that the benefits of the MIF may not be evenly distributed among the Filipino population. There is a risk that infrastructure projects will primarily benefit urban areas, exacerbating the urban-rural divide. To address this concern, the implementation of the law should include measures to ensure the equitable distribution of resources and opportunities across the country. The signing into law of the Maharlika Investment Fund bill has the potential to bring substantial advantages to the Philippines. It can stimulate economic growth, create employment opportunities, attract foreign investment, and promote regional development. However, it is crucial to address the potential disadvantages associated with the law, such as transparency and accountability concerns, increased debt burden, environmental impact, and unequal distribution of benefits. By implementing stringent oversight mechanisms, sustainable practices, and equitable resource allocation, the MIF can help foster inclusive and sustainable development which we all yearn for. The post MIF Law: Is it good for Phl? appeared first on Daily Tribune......»»
Phl, US to boost joint capability, interoperability
The Armed Forces of the Philippines and its partners from the United States Department of Defense are now working together to deepen their earlier commitment to further boosting their defense capability and interoperability together. AFP Public Affairs chief, Lt. Col. Enrico Ileto said these plans of the Philippines and the US came after both countries concluded the Security Sector Assistance Roadmap Working Group Workshop which was held from 11 to 13 July in Camp Aguinaldo, Quezon City. Ileto said the workshop served as an offshoot of the Philippines-US agreements made during the 2+2 Ministerial Meeting, which was previously attended by then-Defense officer-in-charge Carlito Galvez Jr. and Foreign Affairs Secretary Enrique Manalo along with their US counterparts, Secretary of Defense Lloyd Austin and US State Secretary Anthony Blinken, in Washington, DC last 11 April. During the 2+2 Ministerial Meeting, Ileto said both countries agreed to develop a long-term plan to address the concerns on the AFP’s defense capability requirements. The officials also vowed to further enhance joint interoperability between the US and the PH as envisioned in the 1951 Mutual Defense Treaty, he added. The SSAR involves the provision of support, training and assistance by the US — helping their partner nations to strengthen their security sectors, including defense forces. “These partnerships aim to promote stability, build capacity, and enhance the effectiveness of the partner country's security forces,” Ileto stressed. The post Phl, US to boost joint capability, interoperability appeared first on Daily Tribune......»»