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Chip maker Intel beats earnings expectations as it pursues rivals
US chip giant Intel on Thursday said it made more money than expected in the recently ended quarter as it continued to invest in a "geographically balanced" supply chain. Intel shares jumped more than 7 percent to $34.88 in after-market trades. "We delivered a standout third quarter, underscored by across-the-board progress on our process and product roadmaps; agreements with new foundry customers, and momentum as we bring AI everywhere," said Intel chief executive Pat Gelsinger. Intel reported revenue of $14.2 billion, which was 8 percent less than the amount seen in the same quarter a year earlier but ahead of forecasts. Net income tallied $300 million, compared with $1 billion profit in the same period in 2022, earnings figures showed. "Our results exceeded expectations," said Intel chief financial officer David Zinsner, who said earnings benefited from "expense discipline." Intel has been working to catch up with rivals, especially Nvidia, when it comes to powerful chips needed to handle the computing demands of artificial intelligence. Intel touted investments being made in chip production facilities with an aim of creating a "geographically balanced, secure, resilient supply chain." California-based Intel is seen as a key tool for the United States to reduce its dependence on major global producers, such as Taiwan's TSMC. Earlier this year, Intel announced it would spend $25 billion on a new plant in Israel, with Prime Minister Benjamin Netanyahu calling it the country's single largest foreign investment. The "agreement in principle" would see the semiconductor firm build the facility in the southern city of Kiryat Gat that would open by 2027 and operate at least until 2035, Israel's finance ministry said. Intel has been operating in Israel since the 1970s with development centers and a production site that employs some 12,000 people, the finance ministry said. In 2017, Intel acquired Israel-based Mobileye, which makes technology for automated driving systems in vehicles, for just over $15 billion. Gelsinger said Intel teams have kept operations going despite the war between Israel and Hamas. "Our utmost priority is the safety and welfare of our people in Israel and their families," Gelsinger said. "Despite all of these challenges, they're performing extremely well. I am praying for a swift return to peace." China Gelsinger said Intel was carefully studying updated rules in the United States that tighten curbs on exports of state-of-the-art AI chips to China. "We do believe that we'll have plenty of opportunity in China," Gelsinger said. "We are continuing to deploy our products there broadly, even as we comply and work with (the United States) around the regulations that they're putting in place." The new rules tighten measures from a year ago that banned the sale to China of microchips crucial to manufacturing powerful AI systems. Calls to further close the supply chain grew after the popularity of generative AI platform ChatGPT. When announcing the beefed-up curbs, US Commerce Secretary Gina Raimondo insisted they were intended to close loopholes and prevent China's development of AI for military use. "It's true that AI has the potential for huge societal benefit. But it also can do tremendous and profound harm if it's in the wrong hands and in the wrong militaries," she told US media. The rules will not affect chips used in consumer goods such as laptops, smartphones, and gaming consoles, though some will be subject to export licensing requirements. China has said it is "strongly dissatisfied" and "firmly opposes" the curbs. "The US continues to generalize the concept of national security, abuse export control measures, and implement unilateral bullying," the commerce ministry said in a statement. The post Chip maker Intel beats earnings expectations as it pursues rivals appeared first on Daily Tribune......»»
PCSO ask lawmakers to toughen laws vs illegal lottery firms
The Philippine Charity Sweepstakes Office General Manager Mel Robles, called out lawmakers on Monday to toughen the law against Illegal lottery firms. Robles personally led the filing of charges at Mandaluyong Prosecutors Office against individuals behind the four firms engaged in unauthorized online lottery operations. “I am calling out the attention of the lawmakers to toughen the law. Maybe others see that they can handle the penalty but we’ll see. Even if it’s light, we will still pursue the cases against them,” Robles said. Robles added that PCSO is losing billions of pesos in revenue because of illegal operations perpetrated by the suspects. “We are serious about this. We will prosecute and imprison everyone associated with this illegal operation to stop them,” he said. The PCSO stated that PayMaya reportedly remitted billions to a company operating an illegal online lottery. “A payment platform, like PayMaya, reported that they were able to remit about P4.7 billion to a company that was operating the Illegal lotto. It is also included in the complaint affidavit,” he said. The criminal complaints were filed against four companies, Eplayment Corporation, Paymero Technologies Limited, GlobalComRCI International, and Blockchain Smart-Tech Co. I.T. Consultancy. The complaints were prompted by an investigation conducted by the National Bureau of Investigation, which revealed that the mentioned companies were responsible for the ownership, operation, and administration of Pakilotto and Surelotto. The companies reportedly misused the PCSO’s name, logo, and various lottery games, soliciting and accepting bets from the public through their unauthorized mobile application and websites. Robles said that based on their investigation, they have found out that the alleged suspects for Illegal online lottery are operating in the cities of Quezon and Cebu. “We found out one in NCR, in Quezon City, the other is in Cebu,” he said. PCSO reported that Eplayment, which operated under the now-defunct website ‘Pakilotto’, was soliciting and accepting bets from the public at an inflated price of P30 per ticket, a 50% markup compared to the standard P20 lotto ticket. Meanwhile, Surelotto, a similar mobile app, sold tickets online for P25, a 25% increase from the regular lotto price. Prizes of smaller denominations are allegedly directly deposited into the winner’s registered bank account, while jackpot prizes require winners to visit the Surelotto office in person. The complaint-affidavit states that the owners, directors, and/or officers of Paymero, Eplayment, GlobalComRMCI, and Blockchain, as owners, operators, and/or administrators of Pakilotto and Sukilotto, have committed Usurpation of Authority under Article 177 of the Revised Penal Code, a violation of R.A. No. 1169, as amended, and a violation of Presidential Decree No. 1602, as amended by Republic Act No. 9287, in connection with Executive Order No. 13, Series of 2017. Robles emphasized that PCSO remains fully committed to preserving the integrity and legitimacy of its lottery games, ensuring fair treatment and protection for the public. The post PCSO ask lawmakers to toughen laws vs illegal lottery firms appeared first on Daily Tribune......»»
CA junks telco’s frequency plea, mandamus case vs. NTC
The Court of Appeals junked the petition for mandamus filed by NOW Telecom Company Inc. against the National Telecommunications Commission or NTC over the company's provisional authority or PA application to operate a cellular mobile telephone service within specific frequency ranges. In a 16-page decision, the appellate court's Special Ninth Division said "the court is powerless" to grant NOW Telecom's plea, especially since the company failed to show a clear legal right to the frequencies it sought. The CA said the decision, penned by Associate Justice Tita Marilyn B. Payoyo-Villordon and concurred in by Associate Justices Myra V. Garcia-Fernandez and Walter S. Ong, followed a careful examination of the case. The case began from NOW Telecom's request for NTC's automatic approval issued by the Anti-Red Tape Authority or ARTA. NOW Telecom had filed a petition for mandamus under Rule 65 of the Revised Rules of Court to compel the NTC and former Commissioner Gamaliel Asis Cordoba to stick to ARTA's resolution and OAA both dated 1 March 2021. These ARTA documents stated that NOW Telecom's application for a PA to operate in the frequency range 1970 Mhz-1980 Mhz paired with 2160 Mhz to 2170 Mhz and 3.6 GHz to 3.8 GHz frequency ranges was automatically approved by operation of law. It followed Republic Act 11032, otherwise known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018. However, an ARTA resolution dated 17 June 2022 reversed the previous decisions and formally recommended NOW Telecom's application for frequency assignment to the NTC. NOW Telecom's mandamus petition was notably based on its claim for the rights to specific frequency ranges, alleging that the NTC had unjustly neglected its duty to assign them. Yet, court records showed that as early as December 2005, NTC already found NOW Telecom to be non-compliant and was disqualified from the assignment of 3G frequency bands due to unpaid supervision and regulation fees or SRF and spectrum user fees or SUF amounting to P2.6 billion. NOW Telecom has a pending petition filed before the Supreme Court for this penalty imposed by the NTC. NOW Telecom received its PA in January 2006, but it was not specific to 3G and under the condition of paying its outstanding SRF and SUF obligations. In December 2017, NOW Telecom was designated the 20MHz contiguous bandwidth, 3520 to 3540 MHz, under the 3.5 GHz on the same condition that it resolved its outstanding SUF and SRF fines. NOW Telecom's Provisional Authority was extended until September 2020, but the NTC reiterated that the company failed to fulfill the conditions regarding SUF and SRF. Despite the issues hounding the company, NOW Corp. CEO Mel Velarde said he hopes the "Marcos administration" will aid the immediate settlement of its cases as a way of maintaining a "level playing field." _ The post CA junks telco’s frequency plea, mandamus case vs. NTC appeared first on Daily Tribune......»»
Topacio: ‘President Arroyo has done no wrongdoing during her term’
The camp of Pampanga Rep. Gloria Macapagal-Arroyo deemed "baseless" the graft and malversation raps filed against the former president before the Ombudsman last week, accusing her of abuse of discretion over the disbursement of P38.807 billion in Malamapya funds during her presidency. Arroyo's legal counsel, Ferdinand Topacio, said that while they have yet to receive the copy of the complaint-- and learned about it through the news-- they have no doubt that the accusations will be disproven. "Suffice it to state that based on newspaper reports, the complainant admits that the funds concerned were used for public purposes," the lawyer said. "In accordance with settled legal principles, Pres. Arroyo has done no wrongdoing during her term, and we are confident that these charges will be proven false, in the same manner, that other accusations made before them have been shown to be baseless," he said. Topacio was referring to a 34-page complaint filed by National Association of Electricity Consumers for Reforms or NASECORE president Petronilo "Pete" Ilagan and Boses ng Konsyumer Alliance Inc. president Rogelio Reyes, suing Arroyo of 96 counts each of graft and malversation. The complainants cited irregularities in the utilization of Malampaya funds during Arroyo's incumbency, specifically the realigning of the revenues to finance government projects for which the funds were not intended. Arroyo was the Philippine president from 2001 to 2010. Ilagan and Reyes accused Arroyo of taking advantage of her post in allowing the use of P38.807 billion of Malampaya funds for purposes other than the avowed intention of Presidential Decree 910 and as highlighted by a 2017 special audit on the fund by the Commission on Audit. PD 910, signed in 1976, mandates that the profits from Malampaya remitted to the government should be used to finance energy resource development and exploration activities. However, it also stipulates that Malampaya earnings can also be used for "other purposes as directed by the President," which the complainants argued was abused by Arroyo. "Respondent Gloria Macapagal-Arroyo whimsically took the opportunity of the said law's inadequacy and deliberately twisted the interpretation of the said provision to mean that she, as President, had the discretion to use the Malampaya Fund for whatever purpose she deemed fit," the complainants said. Ilagan and Reyes heavily emphasized Arroyo's command to direct the Malampaya funds to agricultural and irrigation programs, disaster rehabilitation, transport projects, national security activities, and cash assistance to the transport sector under the Pantawid Pasada Program, which they claimed was entirely unrelated to energy development. "In short, the Malampaya fund became a discretionary fund of the Office of the President, and disbursements therefrom became subject of whims and caprice of the respondent without regard to the purpose and policy of Presidential Decree No. 910," the complainants said of Arroyo. In the meantime, Topacio expressed their intention to defer it to the justice system and thereafter present a counterargument against the charges in due time. Arroyo and three of her Cabinet secretaries were previously sued for plunder by the National Bureau of Investigation before the Ombudsman for purportedly stealing a P900-million Malampaya fund intended for the impoverished back-to-back typhoon victims in 2009. She was cleared of the charges in 2016 following then-Ombudsman Conchita Carpio Morales' verdict that the NBI "failed to prove" that they colluded in the illegal diversion of Malampaya fund. The post Topacio: ‘President Arroyo has done no wrongdoing during her term’ appeared first on Daily Tribune......»»
‘Intel fund requests being abused’
A lawmaker said Monday the grant of confidential and intelligence funds under the national budget has become a trend that several government agencies have abused. Iloilo Rep. Janette Garin on Monday said there has been a noticeable increase in the allocation of confidential and intelligence funds in recent years granted to various agencies unrelated to national security or surveillance. “There are many who have joined the trend and abused it,” Garin said. “If you look at the historical data, the jump started in 2017, when the total confidential fund in 2016 was P720 million. In 2017, it jumped to P2.07 billion and by 2020, it more than doubled to P4.57 billion,” she said. The marathon deliberations on the proposed P5.768-trillion national budget for 2024 had led to intense debates in the House, particularly on the grant of multi-million-peso confidential funds to numerous civilian agencies, including the Office of the Vice President and the Department of Education. Last week, Marikina Rep. Stella Quimbo, the senior vice chair of the House appropriations panel, said that about 10 government agencies, including the OVP and DepEd, which Vice President Sara Duterte both heads, are expected to be affected by the House’s plan to realign the confidential funds to national security agencies. The realignment is being mulled amid China’s persistent assertiveness inside Philippine territory in the West Philippine Sea. Duterte sought P2.395 billion and P758.6 billion for the OVP and DepEd, respectively, in the proposed 2024 budget, including P500 million and P150 million, respectively, in confidential funds. The post ‘Intel fund requests being abused’ appeared first on Daily Tribune......»»
Sara Duterte’s P2.7B confidential expenses as Davao mayor should be probed—Castro
Davao City’s confidential expenses that ballooned to P2.697 billion during Vice President Sara Duterte’s stint as mayor should be probed by the Commission on Audit, a lawmaker said Monday. The call for investigation was prompted by the 2022 report of the CoA, which found that Davao City spent P2.697 billion on confidential expenses between 2016 to 2022, or an average of PP385.3 million per year over the preceding six years. Duterte served as the Davao City mayor from 2016 to 2022 before she assumed the VP post in July of last year. Based on CoA findings, Davao City incurred P144 million of confidential expenses in 2016, which was more than doubled to P293 million in 2017 and further climbed to P420 million in 2018. The city’s confidential fund expenses further grew to P460 million in 2019 and were maintained consistently for the subsequent years of 2020, 2021, and 2022. In an interview on Monday, ACT Teachers Partylist Rep. France Castro, who sought the CoA probe, stressed that the P2.697 billion totality of confidential expenses of Davao City in the previous six years “could have been utilized more effectively to benefit the education sector, specifically by providing much-needed support to teachers.” “We were shocked also [by] the report of the CoA. With this controversy of confidential funds, we are thinking of asking the CoA to investigate,” she said. “The CoA should file an audit observation memo and then ask them to explain maybe the misuse of funds and then file necessary legal action.” She added, “Imagine more than a million a day spent for the confidential funds in a city. I just wonder how it was spent and where it was spent. So, we want the CoA to review if the city government of Davao City led by Vice President Sara Duterte by then really followed the guidelines or the joint circular 2015-01.” The said joint circular outlined by CoA with the Departments of Budget and Management, National Defense, and of the Interior and Local Government, and Governance Commission for GOCCs, contains guidelines on the entitlement, release, use, reporting, and audit of confidential and intelligence funds that are in the General Appropriations Act. Daily Tribune has been asking for Duterte’s comment, but she remained mum on the issue. While Castro admitted that the local government units are entitled to confidential funds for peace and order maintenance, it was “ironic” that Duterte sought allocation of such funds given that she claimed Davao City was “very peaceful, disciplined, and well” during her tenure. "So why is it necessary to have an increasingly confidential fund?" the lawmaker stressed, noting such a fund should be used for other fruitful endeavors. "I remember the time the teachers of Davao City were asking for city allowance, but she did not grant it. Instead, she refused and even got mad with ACT (Alliance of Concerned Teachers) during that time," Castro pointed out. While none in the law limits the amount of confidential funds, the militant lawmaker pointed out that it should be rationalized. A proposed law aimed at imposing a cap and limit on confidential funds, streamlining the allocation of such that would promote transparency and accountability, is currently being crafted, according to Castro. It will be filed in Congress when the session resumes in November. The post Sara Duterte’s P2.7B confidential expenses as Davao mayor should be probed—Castro appeared first on Daily Tribune......»»
P1B for Marawi victims a cruel joke (1)
I beg my readers’ kind indulgence for using this column as a platform to air our grievances. This is something personal to us, and it is my moral obligation to add my voice to the public indignation sweeping a part of Morolandia. For transparency and disclosure, my family was a victim of the war and is seeking compensation for the damage to our precious possessions. Having said that, as the national budget deliberations for 2024 draw to a near conclusion, the public discourse in Morolandia on the compensation for the 2017 Marawi Siege victims heightened. It’s the issue much discussed in public fora, coffee shops, and social media platforms of Muslims. The Moro attention is largely riveted to the budget deliberations in the House of Representatives, where the budget bill originates by provision of the Constitution. Social media likewise reported the hearing conducted by the Oversight Committee for the Marawi Compensation Law jointly chaired by Senator Ronald dela Rosa and Rep. Zia Alonto Adiong. According to reports, P1 billion is proposed in the 2024 budget for compensation, which is the same amount appropriated in the current budget, alarmed resident victims. They have reason to fear that P1 billion is becoming the appropriation template for the ensuing years. The Marawi Compensation Board or MCB, created to process, approve and pay legitimate claims, will fold the tent and become a functus oficio in 2028 because the law provides for a five-year life span. Let’s do the math. If the budget is not increased, the aggregate appropriation for Marawi victims will only be P5 billion, which is ridiculously insufficient vis-a-vis the number of victims and the magnitude of their claims. From an unofficial report, we gathered that “as of 18 September 2023, there were 75 death claims, 74 structural claims, 1,858 other properties claims, and 4,041 multiple claims. Hence, there were 6,048 claims as of the latest report by the in-take team from July to September. (And) 362 claims have been evaluated or are ready for final deliberation.” The claims statistics are increasing exponentially by the day, with the list of claimants getting longer. The MCB asks for something like P10 billion or more as an aggregate ballpark figure to compensate all the victims. The sparse appropriation has triggered unkind comments from citizens calling the proposed amount outrageously deficient, cruel jokes and insulting the victims. While the public is amused by the stories in tri- and social media on funding for projects that are less urgent — like the millions needed for the confidential and intelligence funds of agencies to address “kuno” (allegedly) the threat of terrorism — here we have a situation where the threat of terrorism is real. Our security and intelligence authorities will tell you that the remnants of the ISIS-affiliated Maute Dawliyah Islamia group are just around the corner, engaged in sporadic hit-and-run guerrilla ambushes to make their presence known. Terrorist cells are confirmed to be existing in the hinterlands of Morolandia. The disgruntled victims of the Marawi war are easy prey for recruitment by the dissidents. There is no denying the depth and scale of the damage sustained by the Marawi victims of the war. The whole world was watching on their television sets for months the daily telenovela-like bombing of the city in what Confucious described as “burning the house to catch a rat.” We have written numerous published articles pleading for cessation of the bombing, but the thrashing by state authorities continued. We note with gratitude the public expression of support by Senator De la Rosa, chair of the Special Committee on Marawi Rehabilitation, who spent years studying at the Mindanao State University in Marawi City, along with Muslim Senator Robinhood Padilla. Senator Risa Hontiveros, in her recent trip to Marawi, saw for herself the progress of the claims processing and has likewise committed support. The list of senators and House representatives joining the chorus of support is getting longer. (To be continued) amb_mac_lanto@yahoo.com The post P1B for Marawi victims a cruel joke (1) appeared first on Daily Tribune......»»
Germany and Israel sign ‘historic’ missile shield deal
Germany on Thursday signed a deal to acquire the Israeli-made Arrow 3 hypersonic missile system that will become a key part of Europe's defence against air attack. The signing of the deal was a "historic day" for both countries, German Defense Minister Boris Pistorius said at a press conference alongside his Israeli counterpart Yoav Gallant. Worth around $3.5 billion (3.3 billion euros), the sale is the biggest ever deal for Israel's military industry. The Arrow 3 system would make "German air defense ready for the future", Pistorius said. Germany has led a push to bolster NATO's air defenses in Europe after the Russian invasion of Ukraine last year, urging allies to buy deterrence systems together. "We can see with the daily Russian attacks on Ukraine how important anti-air defense is," Pistorius said. The signing of the deal was a "moving event for every Jew", looking back at the events of the Holocaust, Gallant said. "Only 80 years since the end of the Second World War yet Israel and Germany join hands today in building a safer future," he said. Sky shield The long-range Arrow 3 system, designed to shoot down missiles above the Earth's atmosphere, is powerful enough to offer protective cover for neighboring European Union states. The system was developed and produced by Israel and the United States and the sale had to be approved by Washington before it could be finalized. The system was first deployed at an Israeli air force base in 2017 and has been used to protect Israel against attacks from Iran and Syria. Arrow 3 is a "mobile system" that can be deployed depending on the threats faced, according to manufacturer Israel Aerospace Industries. The money for the deal comes from a landmark 100-billion-euro fund unveiled by Chancellor Olaf Scholz to bolster the country's defenses in the wake of Russia's invasion of Ukraine. More than a dozen European countries have so far signed up to Germany's common air defense project, the European Sky Shield Initiative. The Sky Shield project would involve joint procurement for short-, medium- and long-range systems, including the German-made Iris-T, the American Patriot system and Arrow 3. Some of Germany's neighbors have however so far declined to sign up to the pact, including France and Poland. Officials in Paris have argued instead for an air defense system using European equipment. Berlin has said it expects the Arrow 3 system to be delivered in the final quarter of 2025. The post Germany and Israel sign ‘historic’ missile shield deal appeared first on Daily Tribune......»»
BFP received an unmodified opinion from COA
The Bureau of Fire Protection (BFP) received an unmodified opinion from the Commission on Audit (COA) for the first time in the fiscal year of 2022 and it got a perfect score of 20. According to the COA, the released report is based on the Financial Management Performance Rating based on the financial audit performed in this period of 2022 report by Michael R. Bacani Director Cluster 4, Defense and Security. Based on the COA report, BFP received a 93 percent score an excellent score from the first Financial Performance Rating report. Before this, it will be recalled that the COA approved the action of the Bureau of Fire Protection (BFP) about the fact that the BFP should have a modernization program to keep up with the modern era. The COA report stated that there was nothing wrong with the actions taken by the BFP in placing the technical requirements that the Bureau of Fire needs to keep up with the BFP's modern methods and modernization program. Meanwhile, the COA report of the Financial Management Performance Rating said the BFP got an excellent rating this past period of 2022. In this regard, according to the COA report this past 2010, the BFP launched its Modernization Program by the government's Comprehensive Fire Code of 2008 so that the Bureau of Fire can adapt to modern times in the event of a fire. The report further stated that the main goal is for the government to upgrade its firefighting capability with adequate personnel and adequate firefighting equipment to protect people from dangerous fires. It was further noted in the COA report that the total funds of the Modernization Program amounted to P13.17 Billion from the year 2011 to 2017. Earlier this past 2019, Senator Bong Go filed a bill in the Senate requiring the BFP to implement the modernization program of the Bureau of Fire Protection. According to the COA report, there is nothing wrong with the technical requirements in requirements for the modernization program because it is in line with the COA report on the COA's performance audit. The Commission also believes that the government should strengthen its fire suppression campaign in conjunction with its ongoing modernization program. The post BFP received an unmodified opinion from COA appeared first on Daily Tribune......»»
The Murdoch business: an empire on three continents
Over the last six decades, Rupert Murdoch built a media empire well beyond his native Australia, amassing key media properties across three continents in a run that was also characterized by multiple scandals. Through his companies, News Corp and Fox Corporation, Murdoch built one of the world's most substantial portfolios of newspaper and broadcast holdings under one roof. Murdoch's wealth was estimated at $17.3 billion by Forbes on Thursday when he announced he was handing the reins to his son Lachlan while shifting to an "emeritus" status at the two companies. Here is a closer look at the two businesses. News Corp The business includes Murdoch's holdings in his birth country of Australia -- led by The Australian, the lone national daily started by Murdoch in 1964. The company also owns Australia The Daily Telegraph and news website News.com.au, as well as television station Sky News Australia and pay television company Foxtel. Murdoch's initial investment in Britain came in 1969 with the purchase of the tabloid News of the World, which was shut down in 2011 following a phone hacking scandal. In 1981, he purchased the prestigious daily The Times, along with The Sunday Times, adding to a print news business that also included The Sun. Holdings in radio and television included talkSPORT, TalkTV, and Virgin Radio UK. News Corp is also present in Ireland with local radio stations. Murdoch's push in North America dates to 1985 with his purchase of the New York Post. In 2007, News Corp landed a major acquisition of the media group Dow Jones, whose holdings include the long-respected Wall Street Journal. The company in 1987 added the publishing house HarperCollins, which originally dates to 1817. HarperCollins bought romance publisher Harlequin in 2014. News Corp also controls Rea Group, which specializes in commercial and residential real estate through websites such as realtor.com and flatmates.com.au. In fiscal 2023, News Corp reported profits of $149 million on revenues of $9.9 billion. Fox Corporation In 1984, Murdoch acquired 20th Century Fox, an entity he reorganized and remade. In 2017, he sold the movie studio, renamed 21st Century Fox, to Disney. Fox Corporation is now comprised of the national television channel Fox and several cable channels, as well as Fox News, which is known for a right-wing spin on news popular with conservative Americans. Other holdings include the entertainment news network TMZ, as well as Studio Ramsay Global, which features British celebrity chef Gordon Ramsay and the MasterChef franchise. In fiscal 2023, Fox reported profits of $1.3 billion on $14.9 billion in revenues. The post The Murdoch business: an empire on three continents appeared first on Daily Tribune......»»
Palace mum on Martial Law
Malacañang on Thursday said it had no plans to release a statement on the 51st anniversary of Martial Law, which was declared by the father and namesake of President Ferdinand Marcos Jr. on 21 September 1972. Asked if the Palace would issue a statement, the Presidential Communications Office told reporters in a Viber message, “Wala raw po (There is no statement).” Amnesty International data said Martial Law led to the imprisonment of over 70,000 people, the torture of 34,000 individuals, and the death of 3,200 others. Marcos Jr. had questioned the statistics in January 2022, saying he had no idea how the figures were arrived at. Amnesty International gathered the information after two missions to the Philippines in 1971 and 1981, with the reports published in 1976 and 1982. Meanwhile, the state-run Human Rights Violations Victims Memorial Commission averred that 11,103 individuals experienced human rights violations during martial law. HRVVMC said 2,326 individuals either lost their lives or went missing between the years 1972 and 1986 as a result of these violations. The issues of human rights violations are separate from the issue of ill-gotten wealth, which had been acknowledged as a legal matter by the Supreme Court in 2003, 2012 and 2017. The ill-gotten wealth is estimated to be between $5 billion and $10 billion after the Marcos family was ousted from Malacañang through the EDSA People Power Revolution. Senator Imee Marcos, on the other hand, had a lot to say about Martial Law. In a press conference at the Marcoses’ residence in the City of San Juan, Marcos, along with former members of the Armed Forces of the Philippines, clarified “misconceptions” about martial law during his father’s regime. “I always hear from students about the alleged abuses, the alleged kidnappings, that there were desaparecidos. I always asked my father about it,” she said in Filipino. “My father always tells me that: ‘There are really erring cops, soldiers, and officials. We will punish them if proven true, but never did I ever order that because I will answer that to God,’” she added. She continued: “He always said that. He never intended for abuses to happen. It was never a matter of policy.” Ferdinand Marcos Sr. was in power for 20 years. The post Palace mum on Martial Law appeared first on Daily Tribune......»»
Malacañang mum on 51st anniversary of Martial Law declaration
Malacañang on Thursday had no plans to release any statement regarding the 51st anniversary of Martial Law, which was declared by former President Ferdinand Marcos Sr., the father of current President Ferdinand Marcos Jr., on 21 September 1972. It is also noticeable that press briefer Daphne Oseña-Paez did not mention about Martial Law while conducting the press briefing with National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan. When asked if the Palace would issue a statement, the Presidential Communications Office (PCO) told reporters in a Viber message, "_Wala raw po_ (There is no statement)." Data from Amnesty International showed that Martial Law led to the imprisonment of over 70,000 people, torture of 34,000 individuals, and the death of 3,200 others. It's worth noting that Marcos Jr. questioned these statistics in January 2022, claiming that he had "no idea how they arrived at these statistics." Amnesty International gathered this information after two missions to the Philippines in 1971 and 1981, with reports published in 1976 and 1982. Meanwhile, the state-run Human Rights Violations Victims' Memorial Commission has acknowledged that 11,103 individuals experienced human rights violations during the era of martial law. HRVVMC data showed that a combined total of 2,326 individuals either lost their lives or went missing between the years 1972 and 1986 as a result of these violations. Issues of human rights violations are separate from ill-gotten wealth, which has been acknowledged as legal by the Supreme Court in 2003, 2012, and 2017. The ill-gotten wealth is estimated to be between $5 billion to $10 billion after the Marcos family was ousted from the Palace through the EDSA People Power Revolution. The post Malacañang mum on 51st anniversary of Martial Law declaration appeared first on Daily Tribune......»»
Marawi City siege victims seek P17.4B
People adversely affected by the 2017 Marawi siege have filed a total of P17,456,836,830 in claims from 4 July to 31 August this year, the Marawi Compensation Board told lawmakers on Monday. But the board said the 4,762 claimants represented only 19 percent of the estimated 23,489 individuals directly affected by the five-month armed conflict between government forces and the combined Maute and Abu Sayyaf terror groups. The siege ended on 23 October 2017 with the surrender or killing of the remaining militants. The conflict left over 1,100 people dead, including 44 government troopers. It displaced over 350,000 people. MCB chairperson Maisara Dandamun Latiph told a hearing of the Joint Congressional Oversight Committee on the Marawi Siege Victims Compensation Act of 2022 that the claimants included those whose properties were destroyed in the fighting. Other claimants had relatives who were killed or who were wounded during the siege which prompted then President Rodrigo Duterte to declare martial law in Mindanao, Latiph said. “These (figures) are based on verified application claim forms that were filed under oath,” she said, adding that the filing was just the first step in a process that includes multi-layered evaluation by lawyers and engineers. So far, only 220 applications had been assessed, while 120 claims totaling P395 million had been processed, the MCB official said. Senator Ronald “Bato” dela Rosa said the MCB needs at least P89 billion to compensate all the war victims. The government initially allocated only P1 billion for compensation under Republic Act 11696, or the Marawi Siege Victims Compensation Law. The law tasked MCB to oversee the process of application and payment of compensation to qualified claimants. Compensation rates are based on the implementing rules and regulations of RA 11696. Under the guidelines, a damaged structure would be compensated P12,000 per square meter if it was made of concrete, P9,000 per sqm if made of wood and concrete, and P6,000 if made of light materials. 5-year process Owners of destroyed properties are to be paid P18,000 per sqm. (concrete), P13,500 (concrete and wood), and P9,000 for those made of light materials, mainly wood. Compensation of P350,000 will be paid to the kin or heirs of each victim who died in the siege. Latiph said the board eyes to complete the compensation process within five years. She said they are targeting to accommodate 200 claims daily, 150 recommendations a week, and 600 decisions a month. Data from Task Force Bangon Marawi showed there were more than 17,000 households in the 24 barangays in Marawi City that were most affected by the conflict. The Marawi siege was the deadliest conflict in the Philippines since the Moro rebellion in the 1970s. It was also the first time that the Islamic State was able to establish a stronghold in Southeast Asia. The post Marawi City siege victims seek P17.4B appeared first on Daily Tribune......»»
P17.5B worth of claims filed by Marawi siege victims
A total of P17,456,836,830 worth of claims have been filed by the victims of the 2017 Marawi siege, according to the chairperson of the Marawi Compensation Board. During the hearing of the Joint Congressional Oversight Committee on the Marawi Siege Victims Compensation Act of 2022 on Monday, MCB chairperson Maisara Dandamun Latiph said the applications for compensation were filed by 4,762 claimants from 4 July to 31 August. The number represents only 19 percent of the estimated 23,489 individuals affected by the conflict. "These are people or individuals who claim that they have structure na nasira (that were destroyed) or they have a death claim. That 4,762 are claims filed. These are based on verified claims application forms (VCAF) that were filed by the claimants. VCAF means that they have filed a claim under oath," she added. Dandamun-Latiph said the filing of VCAF is just part of the step 1 process. Step 2 includes the second layer of evaluation by the lawyers and engineers. “Ibig sabihin, dadaan na naman siya sa second layer of verification which is yung (It means the claim still has to undergo a second layer of verification which is the) legal and technical evaluation," she said. So far, only 220 have been assessed while 120 claims worth P395 million have already been processed. Citing data from his office, Senator Ronald “Bato” Dela Rosa, who chairs the panel, said the MCB needs to process at least P89 billion to compensate all the war victims. The government had initially earmarked only P1 billion for the compensation, which is being lodged under the MCB budget. Created under Republic Act 11696 or the Marawi Siege Victims Compensation Law, MCB was tasked to oversee the process of application and payment of compensation to qualified claimants. Meanwhile, compensation rates are provided based on the implementing rules and regulations of MCB. A damaged structure will be compensated P12,000 per square meter (sqm) if it is concrete; P9,000 if mixed concrete and wood; and PP6,000 if made of light materials. Individuals with destroyed properties are to be paid P18,000 per square meter if structures were made of concrete; P13,500 per sqm if mixed concrete and wood; and P9,000 if made of light materials or mainly wood. A compensation of P350,000 will be given to kin or heirs of victims who died from the siege. Latiph said the Board is eyeing to complete the compensation process within five years. She said they are targeting to accommodate 200 claims daily, 150 recommendations a week, and 600 decisions a month. Dela Rosa said the MCB should make sure that the payments for siege victims will not put into corruption." As early as now, nakikita na namin dito kung gaano ka-importante yung role ninyo talaga diyan sa Marawi Compensation Board dahil nandiyan kayo sa gitna eh (we can see how important your role there in the Marawi Compensation Board because you are in the middle). You have to make sure that you are operating within the budget and fiscal capability ng ating gobyerno (of our government)," Dela Rosa said. "At the same time, you have to ensure duly and justly compensated lahat ng victims di ba? Ambigat ng papel niyo (all of the victims, right? Your role is very important). So, good luck. We are here to support you," he added. The data of the Task Force Bangon Marawi showed there are more than 17,000 households residing within the 24 most affected barangays in Marawi City, excluding businesses and other establishments. The five-month armed conflict in Marawi started on 23 May 2017 when members of the local Daesh-inspired Maute rebel group attacked the city. The government forces declared the war-torn city liberated on 17 October of the same year. But, the conflict left over 1,100 people dead and the center of Marawi City in shambles. The post P17.5B worth of claims filed by Marawi siege victims appeared first on Daily Tribune......»»
DoTr’s vehicle modernization program gets zero budget
The Department of Transportation’s proposed P1.8-billion budget for the Public Utility Vehicle Modernization Program, or PUVMP, for 2024 remained unfunded. At the agency’s budget hearing on Tuesday before the House Committee on Appropriations, Transportation Secretary Jaime Bautista disclosed that the PUVMP received zero funding under the National Expenditure Program approved by the Department of Budget and Management. It was not the first time the DBM deprived the project of funding, as it also did that in 2020 and 2023. For 2023, the DoTr sought P778 million for the PUVMP but got zero for the program to help rid the roads of dilapidated jeepneys. Still, Bautista said the modernization program would continue despite the zero allocation for it under DoTr’s proposed P214.296 billion budget for 2024. “There are many components of the modernization program. One is the industry consolidation, which we are now working on. We have given a deadline up to 31 December for the industry to consolidate,” Bautista said. The industry consolidation, according to Bautista, will facilitate the cooperation between operators and drivers to minimize competition among them. Moreover, he added that the DoTr has initiatives in place to assist those affected by the implementation of the modernization program, such as the ongoing training for affected drivers. Costly units “This is the continuing training of our affected drivers. We will implement that using our existing funds that we will not use in 2023. With the equity subsidy, we still have a budget leftover, so we can use it for 2024.” The DoTr launched the PUVMP in 2017, aiming to replace traditional jeepneys with safer, more efficient, and eco-friendly electric-powered or Euro 4 compliant vehicles. The move drew flak from drivers and operators due to the high cost of the modern jeepneys, ranging from P1.4 million to P3 million. Land Transportation Franchising and Regulatory Board chairperson Teofilo Guadiz had told lawmakers that the pre-pandemic routes for buses and jeepneys had already been reopened back in January of this year as a fallback position for the PUVMP. “We are continually opening routes right now that we call development routes or new routes in response to the needs of the economy,” Guadiz said. Back in March, several transport groups staged a week-long transport holiday to oppose the phaseout of traditional jeepneys and UV Express vehicles, pressing the LTFRB to defer its decision. The post DoTr’s vehicle modernization program gets zero budget appeared first on Daily Tribune......»»
Evergrande plunges as HK trading resumes
Shares in troubled Chinese property giant Evergrande plummeted nearly 80 percent in Hong Kong on Monday after the end of a 17-month trading suspension. The Philippine Stock Exchange Inc. is on holiday yesterday as the country marked National Heroes Day. The resumption of trading came after the company said in a filing on Friday that it had met guidelines set out by the bourse, including belatedly publishing its financial results and complying with other listing rules. Once China’s largest real estate firm, Evergrande defaulted in 2021 and is saddled with more than $300 billion in liabilities, becoming a symbol of the nationwide property crisis that many fear could spill over globally. 87% freefall Its shares plunged as much as 87 percent during morning trading, slashing its market value from a peak of more than $50 billion in 2017 to less than $600 million. It finished the day down 79.4 percent. The company on Sunday reported fresh losses for the first half of the year amounting to 33 billion yuan ($4.53 billion) — an improvement on the 66.4 billion yuan in losses reported in the same period last year. But its cash assets fell from $2 billion last year to $556 million, reflecting its dwindling liquidity. China’s property market “cooled down significantly” in the first six months of the year and saw new defaults in the sector, “further exacerbating the volatility in the market,” Evergrande said. “Based on the principles of respecting international restructuring practices and treating the rights and claims of all creditors in a fair and equitable manner, the Company steadily pushed forward the work related to the restructuring of its offshore debts,” the firm added. In March 2022, the Hong Kong stock exchange suspended trading in Evergrande shares after it failed to publish its 2021 financial results. Its earnings for 2021 and 2022 were published last month, showing a net loss of more than $113 billion over the two-year period. The company risked being delisted if its shares were suspended from trading for 18 months, according to Hong Kong stock exchange rules. Meetings delayed Evergrande was supposed to hold creditor meetings on Monday on its offshore debt restructuring proposal, but it announced in the afternoon the meetings were delayed — just hours before they were set to take place. The postponement of roughly one month will allow creditors to “consider, understand and evaluate” the plan, the company said in an exchange filing. The meetings will take place between 25 to 26 September, which the developer said was “in line” with the timetable creditors expected. Evergrande’s plan offers creditors a choice to swap their debt into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group. Earlier this month, the company filed for bankruptcy protection in the United States, a measure to safeguard its US assets during its restructuring. The post Evergrande plunges as HK trading resumes appeared first on Daily Tribune......»»
QC to strengthen bike lanes after ex-cop road-rage incident
Quezon City Mayor Joy Belmonte on Monday said the city government will further strengthen the safety of bike lanes and deploy more bike patrols to protect cyclists and maintain safer roads. This was after a cyclist was assaulted by an ex-policeman in an incident that was recorded by a netizen, becoming viral on social media. The ex-cop, who pulled a gun on the cyclist, was driving his vehicle on the bike lane. Belmonte stressed that City Ordinance SP-2988 S-2020 or the Ordinance promoting Safe Cycling and Active Transport penalizes motorists obstructing cycling lanes or walking paths. Section 8.2.2 of City Ordinance SP-2636 S-2017 or QC Road Safety Code states that “no driver shall permit his/her vehicle to block any portion of the bicycle lane. At no time shall any vehicle use, straddle, or obstruct the designated bike lane.” "We would like to reassure the cycling community and all our citizens for that matter that the city is willing to exhaust all means to demonstrate to them that we will act in their interest and in the pursuit of justice," the mayor said. Quezon City Rep. Marvin Rillo (Dist. IV) said another P500 million in fresh funding in 2024 will be of great help to the mayor in this regard. The funds, according to Rillo, will be used for upgrading bicycle lanes and pedestrian walkways under the national government’s Active Transport Program in metropolitan areas. “To further stimulate human-powered mobility, such as cycling and walking, there is an additional budget of P500 million for the development of active transport infrastructure and facilities in 2024,” Rillo, a member of the House committee on appropriations, said. “We are all for active transport, which lessens harmful motor vehicle emissions, promotes cleaner air and improves individual and community health,” Rillo, also vice chairperson of the House committee on Metro Manila development, said. The solon explained that the P500 million for the ATP in 2024 is lodged in the budget of the Department of Transportation. The amount is on top of the P705 million earmarked for the ATP this year and the P2 billion funding for the program in 2022. Rillo expressed confidence that the additional government spending for the ATP would protect a greater number of Filipinos who use bicycles as an alternative mode of mobility. As of June this year, the ATP has so far built 564 kilometers of bicycle lanes throughout Metro Manila, Metro Cebu and Metro Davao. The DOTr earlier said it expects the country’s bicycle lane network to reach 2,400 kilometers by 2028. “In other countries where governments are spending more to develop bicycle lanes, they’ve actually seen a five-fold increase in the number of people using bicycles,” Rillo said. The ATP bankrolls the construction of protected, hazard-free bicycle lanes, procurement of bike racks, improvement of end-of-trip cycling infrastructure and the upgrading of pop-up bike lanes into permanent bike lanes. The program also funds the development of pedestrian pathways and crossings designed to accommodate persons with disability, senior citizens, pregnant women, parents with children in strollers and tourists with luggage. Rillo said it will also finance the creation of urban shade trees for the benefit of cyclists, commuters and pedestrians. The post QC to strengthen bike lanes after ex-cop road-rage incident appeared first on Daily Tribune......»»
China developer Evergrande plunges as Hong Kong trading resumes
Shares in troubled Chinese property giant Evergrande plummeted nearly 80 percent in Hong Kong on Monday after the end of a 17-month trading suspension. The resumption of trading came after the company said in a filing on Friday that it had met guidelines set out by the bourse, including belatedly publishing its financial results and complying with other listing rules. Once China's largest real estate firm, Evergrande defaulted in 2021 and is saddled with more than $300 billion in liabilities, becoming a symbol of the nationwide property crisis that many fear could spill over globally. Its shares plunged as much as 87 percent during morning trading, slashing its market value from a peak of more than $50 billion in 2017 to less than $600 million. It finished the day down 79.4 percent. The company on Sunday reported fresh losses for the first half of the year amounting to 33 billion yuan ($4.53 billion) -- an improvement on the 66.4 billion yuan in losses reported in the same period last year. But its cash assets fell from $2 billion last year to $556 million, reflecting its dwindling liquidity. China's property market "cooled down significantly" in the first six months of the year and saw new defaults in the sector, "further exacerbating the volatility in the market", Evergrande said. "Based on the principles of respecting international restructuring practices and treating the rights and claims of all creditors in a fair and equitable manner, the Company steadily pushed forward the work related to the restructuring of its offshore debts," the firm added. In March 2022, the Hong Kong stock exchange suspended trading in Evergrande shares after it failed to publish its 2021 financial results. Its earnings for 2021 and 2022 were published last month, showing a net loss of more than $113 billion over the two-year period. The company risked being delisted if its shares were suspended from trading for 18 months, according to Hong Kong stock exchange rules. Creditor meetings delayed Evergrande was supposed to hold creditor meetings on Monday on its offshore debt restructuring proposal, but it announced in the afternoon the meetings were delayed -- just hours before they were set to take place. The postponement of roughly one month will allow creditors to "consider, understand and evaluate" the plan, the company said in an exchange filing. The meetings will take place between 25 and 26 September, which the developer said was "in line" with the timetable creditors expected. Evergrande's plan offers creditors a choice to swap their debt into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group. Earlier this month, the company filed for bankruptcy protection in the United States, a measure to safeguard its US assets during its restructuring. It is also fending off winding-up petitions in Hong Kong courts, with one case adjourning its hearing to October. China's real-estate sector has proven to be a stumbling block as the world's second-largest economy tries to break out of a post-Covid slump. Fellow Chinese property developer Country Garden now risks defaulting on its bond payments next month, with the company saying there are "major uncertainties in the redemption of corporate bonds". The post China developer Evergrande plunges as Hong Kong trading resumes appeared first on Daily Tribune......»»
Grumbling mounts
There continues to be discontent among certain sectors regarding the proposed policy on military pensions, and now there is another idea floated to scrap the free college education. Just like a low rumbling sound of thunder, affected sectors are grumbling over Finance Secretary Benjamin E. Diokno’s statement that the free access to state university education is “unsustainable” — which is indicative of a potential effort to repeal a landmark legislation enacted during the administration of President Rodrigo R. Duterte, who appointed Diokno as Budget and Management secretary and then Bangko Sentral ng Pilipinas governor. For six years as a member of Duterte’s economic team, we were oblivious to Secretary Diokno’s opposition to Republic Act 10931, or the Universal Access to Quality Tertiary Education Act of 2017. Straight from the horse’s mouth during a forum organized by the University of the Philippines School of Economics on 19 August, he said the law is anti-poor since “there are more poor people who do not attend college.” To say that subsidizing college education really “consumes a lot of funds” is irresponsible, anti-Filipino and anti-development. RA 10931 was embraced by Filipinos during a period when the financial situation of the government appeared stable. The blame for becoming indebted to finance the efforts to control the pandemic falls neither on the people nor on the national government. Fast forward to post-pandemic, there is no convenient excuse for sacrificing human investment through debt for education to support lavish government expenditures in the wake of the national government pronouncements that the gross national product increased to P5.643 billion in the second quarter of 2023 from P5.592 billion in the first quarter of 2023. Truth be told, 2.46 million students were beneficiaries of a free college education during the academic year 2021-2022. It is not only they who are reaping the rewards of one of the “most long-lasting” legacies of former president Duterte’s administration, but their families, communities, and the country. Jade Baguna, a Tertiary Education Subsidy or TES program graduate in Social Work, cannot help but share the positive impact of the policy on his life and his family. Despite facing challenges like long walks to and from school and a meager weekly allowance during high school, the program enabled him to complete his degree, achieve the eighth position in the board examination, and become a Social Work instructor. The Finance Secretary may have lost his train of thought that investing in free college education has long-term economic benefits. A well-educated workforce is crucial to driving innovation, technological advancements, and economic growth. By providing access to higher education, the country can nurture a pool of skilled professionals who will contribute to various industries, drive entrepreneurship and attract investments. At a time when the need to rejuvenate an economy is paramount, scrapping free college education may limit the availability of qualified workers, hinder economic development and reduce global competitiveness. One of the most compelling arguments for a free college education is that it promotes equal opportunity and social mobility. By removing financial barriers, individuals from all socioeconomic backgrounds can pursue higher education based on merit and potential rather than financial means. This ensures that talented and motivated students, regardless of their background, have a fair chance to improve their lives and contribute to society. Sec. Diokno’s sustainability concerns sparked a debate. Commission on Higher Education Chairperson Prospero de Vera said there is nothing better than for a country to invest in its young people and produce highly skilled manpower. “It’s the best anti-poverty strategy. You educate an individual, you make him employable, and you make sure the poverty stops with him or with her,” he said. For Cagayan de Oro 2nd District Representative Rufus Rodriguez, taking out the scholarship program is synonymous with seeing a decay of education in our country. “Education is the great emancipator of people from the bondage of poverty. With education you are able to move forward with your family,” he said. Senator Francis Tolentino has this to say: “Perhaps the lack of money of the national government should not be the reason why they cannot be given the opportunity to study. Education is a basic human right. We need to provide our youth with the necessary basic tertiary education.” Higher education provides a holistic learning experience and fosters personal growth and critical thinking. It promotes civic engagement, social responsibility, and the development of well-rounded citizens. By scrapping free college education, we risk limiting these benefits and creating a society that is less educated, less informed, and less equipped to tackle complex societal challenges. Time and again, it pays to revisit Article 26 of the Universal Declaration of Human Rights. Access to education should not be seen as a privilege but as a fundamental right. In other words, recognizing education as a human right implies that every individual is entitled to receive an education, without any form of discrimination, as it is legally protected. The post Grumbling mounts appeared first on Daily Tribune......»»
PBBM backs suggestions to simplify visa applications
President Ferdinand Marcos Jr. supports the suggestions of the Private Sector Advisory Council (PSAC) to simplify visa applications for tourists and overseas students. In a statement from the Presidential Communications Office on Friday, Marcos Jr. met with the group during the PSAC Tourism Sector Group's fourth meeting in Malacañang earlier this week. The PSAC recommended standardizing information on application procedures, student visa requirements, clinic accreditation for medical clearance, and diploma criteria for international students. The suggestions also call for the automatic certification of at least Level 3 hospitals nationally for tourists' medical clearances, the revision of documentation requirements to reduce the number of criteria, and the online filing of student visa applications. “We can choose to remove it altogether, the requirement for a medical certificate, or if we will continue to require a medical certificate, as long as it’s a recognized clinic, and it comes out in the actual list of hospitals or something like that, I’m sure there’s a way,” Marcos said. “So, I think the easiest is to align ourselves,” he added. To support government policy promoting the country as an educational hub in the Asia-Pacific region, the Department of Foreign Affairs highlighted Joint Memorandum Order (JMO) No. 01, series 2017, which streamlined procedures for the admittance of international students. According to the JMO, international students may enter the Philippines by applying for a student visa at a Foreign Service Post or by obtaining a temporary visa to convert to a student admission status. The foreign individual must attend in person for an interview and fulfill additional consular procedures after receiving the authorization to obtain the student visa. Officials told Marcos Jr. that applicants may skip the in-person interview to expedite the process. But the candidates will only show up in person if government intelligence agencies recommend doing so for security concerns. In Southeast Asia, the Philippines has the longest processing period for student visas, taking about two months. According to Rene Limcaoco of Hertz Philippines, there is a sizable market for this type of travel. Limcaoc said there were five million applications from international students before the pandemic. He expects ten million international students by 2030. The Philippines had 3.4 million foreign tourists as of 14 August 2023, which is 71.4 percent of the 4.8 million baseline industry target for this year. This year, the nation hopes to make P2.24 billion and employ 5.3 million Filipinos in the tourism industry. This year, it anticipates 85.1 million domestic travelers and 4.8 million overseas visitors. The post PBBM backs suggestions to simplify visa applications appeared first on Daily Tribune......»»