GOCC subsidies hit P229 billion from January to November 2020
Subsidies received by state-run corporations rose to P228.7 billion in the first 11 months of 2020, boosted by the government’s funding support for various coronavirus pandemic response programs, according to the Bureau of the Treasury......»»
BDO funds 28 green projects from P52.7 billion bond proceeds
Around 28 green projects benefitted from the first ASEAN sustainability bond issuance of BDO Unibank Inc. in January 2022, bolstering the bank’s sustainability commitment......»»
That extra step: How TV Patrol verified Rep. Paolo Duterte s questionable PHP51-billion infrastructure budget
CHEERS TO ABS-CBN's TV Patrol for its report that confirmed that Davao City 1st District Representative Paolo Duterte received a total of PHP51 billion for infrastructure projects from 2020 to 2022, when his father, former president Rodrigo Duterte, was still in o.....»»
AREIT triples assets to P87 billion
AREIT Inc., the listed real estate investment trust (REIT) of the Ayala Group, has grown its assets under management to P87 billion in three years from P27 billion since it listed on the Philippine Stock Exchange in 2020. .....»»
Immigration officer convicted
The National Bureau of Investigation yesterday revealed that a Bureau of Immigration officer has been convicted for the falsification of travel records showing that former Wirecard chief operating officer Jan Marsalek was in the Philippines even if he did not arrive and leave the country in 2020. The NBI said BI officer Marcos S. Nicodemus has been found guilty by the Pasay City Regional Trial Court of violations of Republic Act 10175, the Cybercrime Prevention Act, and RA 3019, the Anti-Graft and Corrupt Practices Act. Though the RTC decision was not provided by the NBI, it said that Nicodemus “was sentenced by the court to a maximum imprisonment of nine years for each of the criminal cases with perpetual disqualification to hold public office.” Marsalek, an Austrian national, has been wanted by the German government for his involvement in the $2.2 billion Wirecard fraud. In 2020, the Philippine government joined the hunt for Marsalek due to Wirecard’s links in the country and discovered travel records that showed that the Austrian came to the Philippines in 2020. Then Department of Justice Secretary and now Solicitor General Menardo I. Guevarra ordered the NBI to conduct an investigation. In August 2020, the NBI “recommended to the DoJ the prosecution of subject Marcos Nicodemus for falsifying the travel records of an Austrian national.” “Investigation conducted by NBI-IAID (NBI-International Airport Investigation Division) revealed that based on Marsalek’s travel records, he arrived in the Philippines through NAIA Terminal 1 on 23 June 2020, processed by Immigration Officer Darren Ilagan but with a mysterious ‘canceled by user’ remark and departure on 24 June 2020 at Mactan-Cebu International Airport processed by Immigration Officer Perry Michael Pancho,” the NBI said. “However, NBI-IAID discovered thru CCTV (closed circuit television) footages that Marsalek never entered the Philippines and he did not even depart through MCIA,” the NBI said. The records of Marsalek were found to be spurious due to the following: Existing immigrations protocol as of that date disallowing passengers from entering Philippine territory due to Covid situation; absence of actual scanned data page of the passport; existing protocol that incoming flights of airlines disallowing the boarding of a passenger who will be prevented entry based on the destination country’s protocol as of flight date. The NBI said that Ilagan testified that Nicodemus, who was his supervisor, “ordered him to conduct a derogatory check upon Marsalek despite the fact that he was already not on duty on that date and that Marsalek is not present during checking.” Guevarra in 2020, said that the travel records of the Marsalek were falsified possibly as “diversionary tactics to mislead his pursuers.” The post Immigration officer convicted appeared first on Daily Tribune......»»
COA flags BIR, SSS over lapses in wage subsidy program
The Commission on Audit has called out the Bureau of Internal Revenue and the Social Security System over lapses in the implementation of the P51-billion Small Business Wage Subsidy Program, resulting in failure to assist 41 percent or 717,442 target employees who were unable work due to strict community lockdowns at the height of the COVID-19 pandemic in 2020......»»
Tourism, agribusiness need prioritization — PCCI
The country’s biggest congregation of business owners in the country, the Philippine Chamber of Commerce and Industry, said the Marcos Jr. administration must focus on the industries of tourism and agribusiness as they provide opportunities to Filipinos. Apart from the two, PCCI president George Barcelon said other industries that need further push and support are IT-BPO and creative industries, manufacturing, mining, and mineral resources, considered to be ideal and attractive for local and foreign investments and could amplify the economic growth and competitiveness of the country. “Some of our neighboring countries in ASEAN have really moved fast over the past 10 years. We had been lagging them in terms of exports, investments, and trade and we could not afford to be in this situation, so we really need to review our policies for us to be attractive to local and foreign investors,” Barcelon said. He said this will be the center of discussions at the upcoming 49th Philippine Business Conference & Expo set this month, which will gather industry leaders and practitioners to provide insights and share some prospects in what an interesting discussion on policies and regulations could be to attract investors and stimulate investments in these sectors. He said tourism and agribusiness are low-hanging fruits that the government should seriously prioritize and develop as it provides many opportunities for Filipinos. In 2022, the tourism and travel industry only contributed 6.2 percent to the country’s GDP lower than 12.7 percent in 2019 prior to the pandemic. The latest data from the Department of Tourism said that from 1 January to 29 September 2023, a total of 4,005,465 visitors arrived in the country, bringing in a total of P316 billion in revenue into the government coffers and hiring 5.35 million Filipinos in tourism-related jobs. The Philippine agribusiness, on the other hand, contributed only around 8.9 percent to GDP in 2022 where in fact its contribution could actually reach 35 percent. The mining and mineral sector, meanwhile, was able to boost the country’s growth by P102B in 2020 during the pandemic while the manufacturing sector contributed 17.2 percent in 2022. “As the private sector takes the lead in mapping out plans for Vision 2050, we hope our government will focus its attention on harnessing these sectors and address the challenges that hinder the country’s economic growth. We have the competitive advantage to become a first world economy by 2050, we just have to do extra work to achieve it,” said Architect Felino Palafox Jr., who chairs the 49th PBC&E happening on 25-26 October at The Manila Hotel. This year’s conference carries the theme Vision 2050: The Philippines A First-World Economy. It will initiate discussions and gather insights from visionary leaders and policymakers on how the country, given its strategic location, natural and human capital resources, and the many advantages it has, can become one of the industrialized and developed economies by 2050. The two-day event will interestingly gather prominent business personalities, national and local executives, and international leaders. The post Tourism, agribusiness need prioritization — PCCI appeared first on Daily Tribune......»»
Trio wins physics Nobel for illuminating electrons
France's Pierre Agostini, Hungarian-Austrian Ferenc Krausz, and Franco-Swede Anne L'Huillier won the Nobel prize in physics on Tuesday for research using ultra-quick light flashes that enable the study of electrons inside atoms and molecules. Their technique employs pulses measured in attoseconds, a unit so short that there are as many in one second as there have been seconds since the universe's birth over 13 billion years ago, the jury said. The laureates' research has made it possible to examine moves or changes so rapidly that they were previously impossible to follow, with potential applications in both electronics and medical diagnostics. The Royal Swedish Academy of Sciences likened the process to how the flapping wings of a hummingbird turn into a blur for the human eye but can be slowed and examined using high-speed photography. "We can now open the door to the world of electrons. Attosecond physics gives us the opportunity to understand mechanisms that are governed by electrons," Eva Olsson, chair of the Nobel Committee for Physics, said in a statement. 'Not so many women' In 1987, L'Huillier "discovered that many different overtones of light arose when she transmitted infrared laser light through a noble gas," the Nobel Committee noted, adding that her exploration of the phenomenon laid "the ground for subsequent breakthroughs". In the early 2000s, Agostini and Krausz worked on how to isolate light pulses that lasted only a few hundred attoseconds. Agostini is a professor at Ohio State University in the United States, while Krausz is a director at the Max Planck Institute in Germany. "It was just atomic physics interacting with lasers," Agostini said of his early work, in an interview released by his university. "We were not really aware it would go that far, but a lot of people were interested both in the method and the result." L'Huillier, only the fifth woman to be awarded the Physics Prize since 1901, is a professor at Lund University in Sweden. She told reporters she was in the middle of teaching a class when she received the call from the Academy, making it "difficult" to finish the class, to whom she did not reveal the news. "I am very touched ... There are not so many women that get this prize so it's very, very special," she said. Before L'Huillier, Marie Curie (1903), Maria Goeppert Mayer (1963), Donna Strickland (2018), and Andrea Ghez (2020) were the only women to have won the award. Speaking later at a press conference, she encouraged young women interested in science to "go for it" and said it was possible to combine a research career with an "ordinary life, with a family and children." French President Emmanuel Macron congratulated the trio. "What a source of pride for our nation!" Macron said in a post to X, formerly known as Twitter. L'Huillier and Krausz had been seen as contenders for the honor, having been awarded the prestigious Wolf Prize last year together with Canadian physicist Paul Corkum. Fellow Hungarian However, Krausz said he had not been expecting a call. "I was not sure whether I was dreaming or whether it was reality," he told the Nobel Foundation in an interview. The physics award is the second Nobel of the season after the Medicine Prize on Monday, awarded to messenger RNA researchers Katalin Kariko and Drew Weissman for their groundbreaking technology that paved the way for mRNA COVID-19 vaccines. Krausz said he had actually been listening to an interview with Kariko when he received the call, adding he was especially impressed with her determination as she toiled away at her research despite struggling to achieve recognition and secure funding for it. "That's what I would like to convey to future generations," Krausz said. The Physics Prize will be followed by the Chemistry Prize on Wednesday, with the highly watched Literature and Peace Prizes to be announced on Thursday and Friday. The Economics Prize -- created in 1968 and the only Nobel not included in the 1895 will of Swedish inventor and philanthropist Alfred Nobel, which founded the awards -- closes out the 2023 Nobel season on Monday. The post Trio wins physics Nobel for illuminating electrons appeared first on Daily Tribune......»»
‘22 ODA loans reach $32.4B
The Philippines received more official development assistance, or ODA, loans and grants in 2022 to address the socioeconomic scarring brought about by the Covid-19 pandemic, the National Economic and Development Authority said. In its 2022 ODA Portfolio Review released on Tuesday, NEDA recorded $32.40 billion in active ODA loans and grants to the Philippines in 2022, up 0.50 percent from $32.24 billion in 2021. The country acquired 106 loans totaling $30.20 billion and 320 grants equivalent to $2.20 billion in 2022. The funds came from 20 development partners, with the Asian Development Bank making the most significant contribution, accounting for 33 percent of the total ODA in the country. Moreover, the government received only four program loans (amounting to $1.02 billion) for Covid-19 response and recovery in 2022, a downtrend from the 25 Covid-19 loans in 2020 and 15 in 2021. “The significant reduction in ODA devoted to addressing the damage wrought by Covid-19 reflects the country’s transition towards the new normal, and it is now focusing on achieving growth in the post-pandemic world,” NEDA Secretary Arsenio Balisacan said. The nation’s premier socioeconomic planning body noted that the infrastructure sector received most of the ODA in 2022, with its share amounting to $16.07 billion. The investments in the sector supported the “Build, Build, Build” infrastructure program of the Duterte administration, which the current Marcos administration is continuing through the “Build-Better-More” program. The post ‘22 ODA loans reach $32.4B appeared first on Daily Tribune......»»
Trio wins physics Nobel for illuminating electrons
France's Pierre Agostini, Hungarian-Austrian Ferenc Krausz and Franco-Swede Anne L'Huillier won the Nobel prize in physics on Tuesday for research using ultra quick light flashes that enable the study of electrons inside atoms and molecules. Their technique employs pulses measured in attoseconds, a unit so short that there are as many in one second as there have been seconds since the universe's birth over 13 billion years ago, the jury said. The laureates' research has made it possible to examine moves or changes so rapid that they were previously impossible to follow, with potential applications in both electronics and medical diagnostics. The Royal Swedish Academy of Sciences likened the process to how the flapping wings of a humming bird turn into a blur for the human eye, but can be slowed and examined using high-speed photography. "We can now open the door to the world of electrons. Attosecond physics gives us the opportunity to understand mechanisms that are governed by electrons," Eva Olsson, chair of the Nobel Committee for Physics, said in a statement. 'Not so many women' In 1987, L'Huillier "discovered that many different overtones of light arose when she transmitted infrared laser light through a noble gas," the Nobel Committee noted, adding that she has continued to explore this phenomenon, "laying the ground for subsequent breakthroughs". In the early 2000s, Agostini and Krausz worked on experiments that made it possible to isolate light pulses that lasted only a few hundred attoseconds. Agostini is a professor at Ohio State University in the United States, while Krausz is a director at the Max Planck Institute in Germany. L'Huillier, only the fifth woman to be awarded the Physics Prize since 1901, is a professor at Lund University in Sweden. L'Huillier told reporters she was in the middle of teaching a class when she received the call from the Academy, making it "difficult" to finish the class, to whom she told nothing. "I am very touched ... There are not so many women that get this prize so it's very, very special," she said. Before L'Huillier, Marie Curie (1903), Maria Goeppert Mayer (1963), Donna Strickland (2018) and Andrea Ghez (2020) are the only women to have won the award. Speaking later at a press conference, she encouraged young women interested in a career in science to "go for it". The laureate, who is married and has two sons, stressed it was possible to combine a research career with an "ordinary life, with a family and children." French President Emmanuel Macron congratulated the trio, noting that "two of our brilliant French researchers" had been honoured. "What a source of pride for our nation!" Macron said in a post to X, formerly known as Twitter. L'Huillier and Krausz had been seen as contenders for the honour, having been awarded the prestigious Wolf Prize last year together with Canadian physicist Paul Corkum. Fellow Hungarian However, Krausz said he had not been expecting a call. "I was not sure whether I was dreaming or whether it was reality," he told the Nobel Foundation in an interview. Speaking at a press conference a few hours later, he said: "There are signs that it could be reality". The physics award is the second Nobel of the season after the Medicine Prize on Monday, awarded to messenger RNA researchers Katalin Kariko, a Hungarian like Krausz, and Drew Weissman for their groundbreaking technology that paved the way for mRNA Covid-19 vaccines. Krausz said he had actually been listening to an interview with his compatriot when he received the call, adding he was especially impressed with Kariko's determination as she toiled away at her research despite struggling to achieve recognition and even secure funding for it. "That's the most important lesson for me, that's what I would like to convey to future generations, that if you believe in something and are convinced it's the right thing to do ... the important thing is to keep believing in it," Krausz said. The Physics Prize will be followed by the Chemistry Prize on Wednesday, with the highly watched Literature and Peace Prizes to be announced on Thursday and Friday. The Economics Prize -- created in 1968 and the only Nobel not included in the 1895 will of Swedish inventor and philanthropist Alfred Nobel, which founded the awards -- closes out the 2023 Nobel season on Monday. The post Trio wins physics Nobel for illuminating electrons 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......»»
Trump business empire under threat as New York fraud trial opens
A combative Donald Trump appeared in a New York court on Monday to face civil fraud charges, denouncing the case as a "sham" intended to torpedo his campaign to retake the White House. The fraud trial, one of several legal battles against the 77-year-old Trump, could potentially see the former president barred from doing business in New York state. "This has to do with election interference, plain and simple," Trump said as he arrived for the opening day of what could be a three-month trial. "What we have here is an attempt to hurt me in an election." New York Judge Arthur Engoron has already ruled that Trump and his sons Eric and Don Jr committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years. New York Attorney General Letitia James is now seeking $250 million in penalties and the removal of Trump and his sons from management of the family empire. "Justice will prevail," James told reporters before delivering opening arguments. "No matter how powerful you are, no matter how much money you think you may have, no one is above the law," she said. Trump, arriving in court, denounced the case as a "scam" and a "witchhunt." "It's a sham," he said. "My financial statements are phenomenal." Trump is scheduled to appear before a federal judge in Washington on March 4, 2024 on charges of trying to overthrow the results of the 2020 presidential election won by Democrat Joe Biden. Trump will then be back in New York state court, this time on charges of paying hush money to a porn star, and later in a Florida federal court, where he is accused of mishandling classified documents after leaving office. Finally, he will also have to answer to state charges in Georgia, where prosecutors say Trump illegally tried to get the southern state's 2020 election results changed in his favor. 'Major blow' In the New York case, Engoron ruled that Trump, his two eldest sons and other Trump Organization executives lied to tax collectors, lenders and insurers for years in a scheme that exaggerated the value of their properties by $812 million to $2.2 billion between 2014 and 2021. The judge revoked the business licenses that allowed the Trump Organization to operate some of its New York properties. Actually enforcing such penalties would be "a major blow to Donald Trump's ability to do business in the state of New York going forward," Will Thomas, a professor of business law at the University of Michigan, told AFP. Trump -- who made his reputation and fortune as a real estate mogul in the 1980s -- could eventually lose control over many of his company's flagship properties, such as his 5th Avenue Trump Tower in Manhattan. According to James, a Democrat, Trump's own apartment in that building is among the spaces that were fraudulently overvalued -- it was listed as three times bigger than its true size. Another Manhattan building, at 40 Wall Street, was overvalued between $200-$300 million in financial disclosures, James alleges. Trump's luxury Mar-a-Lago resort in Florida -- the site of the classified documents drama -- and several other Trump Organization golf clubs also appear in James's complaint. Trump has repeatedly dismissed the New York civil allegations, calling James, who is Black, "racist," and labeling Engoron "deranged." There are likely to be dozens of witnesses called to testify at the trial, including Trump himself and three of his children, Eric, Don Jr and his oldest daughter Ivanka. Trump's former lawyer Michael Cohen -- now an outspoken critic of the former president -- and officials from Trump-linked financial institutions are also expected to appear. The post Trump business empire under threat as New York fraud trial opens appeared first on Daily Tribune......»»
DoF: ESG bond deals hit $3.55B
The government has funded green and social projects through the issuance of bonds amounting to $3.55 billion or P195.64 billion from March 2022 to January this year, resulting in bigger areas of replanted forestland and more flood-safe communities and benefiting agricultural entrepreneurs and students with tertiary education. The Sustainability Bond Allocation and Impact Report released Monday by the Department of Finance shows the total fund consisted of four bond transactions dedicated to environment, social and governance or ESG projects. For last year’s bond issuances, the government raised $1 billion in March, 70.1 billion Japanese yen in April, and $750 million in October. In January this year, it raised $1.25 billion. Proceeds from the bonds were used to either fully or partially finance and refinance four groups of projects by various government agencies from 2020 to 2022. DENR’s planting, marine program First, the planting and marine program by the Department of Environment and Natural Resources expanded greenery in forestland spanning 45,947.44 hectares and preserved plants in 191,081 hectares last year. Meanwhile, 244 areas covering 7.73 million hectares of terrestrial, marine, coastal, caves, and wetlands have been protected against biodiversity destruction. The P10.1-billion program provided jobs to 1,868 Filipinos this year from 1,808 in 2020 and financial aid to 68 groups from 25. Moving forward, the Marcos administration aims to boost production of bamboo and indigenous tree species on 3,565 hectares of land. Second, the flood management projects of the Department of Public Works and Highways along the country’s major rivers and river basins increased to 2,088 projects last year from 2,037 in 2020. These included floodways, dikes, water impounding structures and dredging works. The bond proceeds allocation to this program was P80.7 billion or 27 percent of the total project cost. Third, the bond proceeds enabled the Department of Labor and Employment, or DoLE, to provide business training, working capital, tools, and microinsurance to 9,112 members of the marginalized communities and displaced workers. These benefits were given under DOLE Integrated Livelihood Program, and Tulong Panghanapbuhay sa Ating Disadvantaged/ Displaced Workers or the Emergency Employment Program. Lastly, the Commission on Higher Education and the Technical Education and Skills Development Authority were able to distribute funds for free tertiary education and subsidies to Filipino youth. Beneficiaries of free education in CHED-accredited local universities and colleges increased to 349,208 last year from 253,302 in 2020. The post DoF: ESG bond deals hit $3.55B 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......»»
DoE: Households without electricity increased by a million in last 5 years
The number of households without electricity has increased by a million in the last five years, Energy Secretary Raphael Lotilla said Friday. The DoE based the number on the 2020 consensus, which showed that 1.8 million households did not have electricity, a much higher number compared to the 2015 consensus, which showed only 800,000 households without electricity. Speaking at a Senate hearing on the DoE’s proposed P2.5 billion budget, Lotilla said the 2020 number also translated to a percentage of electrification of 96 percent, which was two percent lower than 98 percent in 2015. Lotilla attributed the increase to the rise in population and total households. “We cannot cope with this given the present budgetary limitation [of the agency],” he said, noting that “an increase in the electrification budget would increase the rate of implementation” of the country’s electrification program. National Electrification Administration chief Antonio Almeda, meanwhile, pointed out that its originally requested budget for electrification was P6 billion. This request would have covered 2,000 sitios, he added. However, the Department of Budget and Management cut the energy sector's fund to P1.6 billion, prompting the program to be limited to 576 areas. With this, Senator Raffy Tulfo urged the DBM to provide the DOE and its attached agencies with the appropriate budget. “These agencies should be given ample resources to help manage an imminent energy crisis,” said Tulfo, who also chairs the Senate Committee on Energy. “Para makapagtrabaho ng maayos itong sa energy sector natin, bigyan niyo sila ng tamang budget, para nagagawa nila ‘yung nararapat (For our energy sector to do their work properly, give them the proper budget so they can do what they need to do),” Tulfo added. The post DoE: Households without electricity increased by a million in last 5 years appeared first on Daily Tribune......»»
Each shrinking his carbon
Recently, residents in Metro Manila woke up to an overcast, foggy morning sky. Conjectures attributed it to another impending eruption of Taal Volcano, like it did in 2020. Phivolcs clarified that the smog that covered Metro Manila was not caused by the volcano; it was rather pollution trapped in the lower levels of the atmosphere. It was a surprise to many because, while traffic congestion has been worsening after the pandemic and Manila was identified as one of the most congested cities in Asia, it rarely brought to the public’s attention that the air pollution it causes is so serious. During the pandemic, people noticed that, due to the lockdown implemented in most countries, air quality improved and we were seeing clearer skies, but the situation changed rapidly as almost everything was “back to normal”. Countries are doing their bit to mitigate air pollution and slow global warming. The European Union set a goal to cut carbon emissions by at least 55 percent and source 45 percent of its energy from renewable sources by 2030. Starting today, EU’s carbon border adjustment mechanism, a carbon tariff on carbon-intensive products, will enter its trial phase. The transition phase of CBAM, from October 2023 to December 2025, will require exporters to submit emissions reports to importing partners. From January 2026, CBAM will be implemented and initially apply to imports in the emissions-intensive sectors deemed at greater risk of carbon leakage: cement, electricity, fertilizers, iron and steel, aluminum and hydrogen. From 2026, EU importers will start paying a financial adjustment by surrendering the amount of CBAM certificates that correspond to the emissions embedded in their imports. The EU Emissions Trading System’s free emission allowances are to be replaced by the CBAM gradually from 2026 to 2034. Thus, CBAM, the CO2 border tax, will be fully phased in at the start of 2034, when free carbon certificates are eliminated. In the Philippines, electric vehicle adoption was given a boost by Executive Order No. 12 issued in January, which reduced the tariffs on certain EVs to zero for five years, effectively lowering vehicle prices and encouraging people to purchase EVs. The EO covers EV segments such as cars, buses, vans, trucks, kick scooters, self-balancing cycles, bicycles and pocket motorcycles with auxiliary motors not exceeding 250 watts and with a maximum speed of 25 kilometers per hour. Nonetheless, electric motorcycles were excluded from the EO, and are still subject to a 30-percent tariff. In Taiwan, to encourage people to stop buying fuel vehicles by 2040 and achieve the target of net zero carbon emissions by 2050, people who buy new electric motorcycles enjoy a subsidy from the government varies from NT$5,100 to 7,000, equals to 8,990 to P12,340, depending on the model purchased until the end of 2026. If the battery cores, negative electrode materials, electrolyte and copper foil used in the electric motorcycles are all domestically produced, each vehicle will receive an additional subsidy of NT$3,000. Until the end of 2024, people who replace their more than 10-year-old car with an electric car will get a NT$15,000 to 18,000 subsidy in Taiwan. While Singapore and Taiwan launched their first carbon exchange platform Climate Impact X and Taiwan Carbon Solution Exchange in 2021 and August 2023, respectively, Indonesia also started its carbon trading market on 26 September. President Joko Widodo attended the launch, saying the exchange could create a new sustainable economy, estimating it has the potential to be worth at least Rp3,000 trillion ($194 billion). “This will be a new sustainable economic opportunity as the world is heading toward the green economy,” he said. The post Each shrinking his carbon appeared first on Daily Tribune......»»
Sub bolsters Taiwan defense vs China
Taiwan unveiled its first domestically built submarine on Thursday to bolster the island’s defenses against China. President Tsai Ing-wen presided over the launch ceremony for the Hai Kun or “Narwhal” in English at CSBC Corporation's Kaohsiung shipyard, according to Taiwan News. Tsai performed the bottle-breaking ritual and named the submarine, which means “giant fish” in Chinese. National Security Council Secretary General Wellington Koo, American Institute in Taiwan Director Sandra Oudkirk, Defense Minister Chiu Kuo-cheng, Kaohsiung Mayor Chen Chi-mai and other dignitaries attended the ceremony, CNA reported. Strongly opposed by Beijing for her refusal to accept China’s authority over the island, Tsai launched a submarine program in 2016 with the aim of delivering a fleet of eight vessels. Construction on the first started in 2020 by CSBC Corporation, a company specializing in container ships and military vessels. Carrying a price tag of $1.5 billion, the submarine’s displacement weight is about 2,500 to 3,000 tons, with its combat systems and torpedoes sourced from the United States defense company Lockheed Martin. Ben Lewis, a US-based independent analyst who focuses on the Chinese military’s movements around the island, said the Taiwanese submarine can pose a threat to Chinese amphibious assault and troop transport capabilities. “They have practised extensively the use of civilian vessels to augment their existing troop delivery platforms, and a submarine could wreak havoc on vessels not designed for naval warfare,” Lewis said. The submarine will still need at least three years to become operational, Zivon Wang, a military analyst at Taipei-based think tank the Chinese Council of Advanced Policy Studies, said. “The launch... does not mean that Taiwan will become very powerful right away but it is a crucial element of Taiwan’s defense strategy and a part of our efforts to build deterrence capabilities,” Wang said. China’s state-run Global Times on Monday published an op-ed saying Taiwan’s submarine deployment plan to block the Chinese military was “daydreaming.” “The plan is just an illusion of the island attempting to resist reunification by force,” it said. The post Sub bolsters Taiwan defense vs China appeared first on Daily Tribune......»»
Go reiterates call for increased health fund
Senator Christopher “Bong” Go, chairperson of the Senate Committee on Health, emphasized in an interview on Tuesday, 26 September, the urgent need to bolster the Department of Health’s budget as the country movestowards pandemic recovery even amid several existing and emerging public health concerns. He recalled the budget deliberations in December 2019 when there were attempts to cut the budget of the Research Institute for Tropical Medicine for year 2020. “In the 2019 budget deliberations, I defended the RITM budget which was on the brink of being slashed. We even added more funds,” he narrated. This decision turned out to be crucial then, as RITM later played a vital role in Covid-19 testing when the pandemic started in 2020. Go noted that the restoration of RITM’s budget underscored the importance of adequately funding healthcare institutions, especially in unpredictable times. Go’s recollection came at a critical time when DoH is facing a P10-billion budget cut for 2024. The proposed budget cut would bring DoH’s overall budget down to P199.45 billion from P209.62 billion under the General Appropriations Act of 2023. With this, Go argued that the healthcare system needs more, not less, financial support. He then underscored the urgency for increased investment in the public healthcare system. Meanwhile, Go continued to push for the Department of Disaster Resilience and Mandatory Evacuation Center bills. Go’s office, in coordination with Mayor Clark Ngaya, distributed grocery packs to 500 typhoon “Egay” victims at the municipal hall in Barlig, Mountain Province last Monday, 25 September. The post Go reiterates call for increased health fund appeared first on Daily Tribune......»»
Bong Go renews call for increased health budget
Senator Christopher "Bong" Go, the chairperson of the Senate Committee on Health, emphasized in an interview on Tuesday, 26 September, the urgent need to bolster the Department of Health's budget as the country navigates toward pandemic recovery even amid several existing and emerging public health concerns. "Gaya ng sinabi ko noon, full support ako sa DOH kung ano ang makakatulong sa ating healthcare system," said Go. He recalled the budget deliberations in December 2019 when there were attempts to cut the budget of the Research Institute for Tropical Medicine (RITM) for the year 2020. "Nag-budget hearing noong December 2019, tinapyasan ang proposed budget sa RITM at DOH, di po ako pumayag noon. Dinagdagan pa natin at ibinalik natin ang pondo," he narrated. This decision turned out to be crucial then, as RITM later played a vital role in COVID-19 testing when the pandemic started in 2020. Go noted that the restoration of RITM's budget underscored the importance of adequately funding healthcare institutions, especially in unpredictable times. Go's recollection came at a critical time when the DOH was facing a P10-billion budget cut for 2024. The proposed budget cut would bring DOH's overall budget down to P199.45 billion from P209.62 billion under the General Appropriations Act of 2023. With this, Go argued that the healthcare system needs more, not less, financial support. He then underscored the urgency for increased investment in the public healthcare system. "The more we should invest sa ating healthcare system, dagdagan ang pondo," Go reiterated. "Para sa akin po, dapat suportahan natin na dagdagan ang pondo ng DOH. 'Wag pong bawasan, dagdagan pa po," he stated further. He emphasized that the funds should be used wisely to benefit patients particularly the less fortunate. "Makinabang dapat ang mga pasyente, makinabang po ang mahihirap nating kababayan na walang ibang matakbuhan kundi tayo pong nasa gobyerno," he said. Go said that those who are wealthy have the option to seek medical care in private hospitals, while the less fortunate are left with no other choice but to rely on public healthcare facilities that rely on government funding. "Ito pong mga helpless, mga hopeless nating kababayan, sila ang unahin natin. 'Yung mayayaman naman po, di pupunta sa public hospitals 'yan," he said. During the Commission on Appointments hearing on the ad interim appointment of Health Secretary Teodoro Herbosa which Go presided on early that day, the senator also appealed to DOH to ensure that poor and indigent patients are given utmost attention in public hospitals. Go cited a recent department memorandum signed by Herbosa instructing medical center chiefs to ensure that all patients must be accorded with the available services in Malasakit Centers. The Malasakit Center serves as a one-stop shop aimed at helping particularly poor and indigent patients minimize their medical expenses to the lowest amount possible by collaborating 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 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. Given this, Go reminded the DOH that sufficient funding must be allocated in the coming years for the proper implementation of the law. Moreover, Go also emphasized the need to continue bringing basic health services closer to the grassroots through the establishment of more Super Health Centers nationwide which he had advocated for since the time of former president Rodrigo Duterte. “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. The post Bong Go renews call for increased health budget appeared first on Daily Tribune......»»
Trump committed fraud by inflating value of assets — judge
Donald Trump and his sons Eric and Don Jr. committed fraud by inflating the value of the real estate and financial assets of the Trump Organization for years, a New York judge ruled on Tuesday. The ruling by Judge Arthur Engoron is a setback for the former president ahead of a trial in the civil case due to begin on Monday. New York State Attorney General Letitia James has accused Trump and his two eldest sons of business fraud for allegedly submitting "grossly inflated" numbers to banks and insurers. The lawsuit asserts that they lied to tax collectors, lenders, and insurers for years in a scheme that routinely misstated the value of the organization's properties to enrich themselves. Trump's lawyers had asked the judge to throw out the case ahead of the trial by granting what is known as a summary judgment in his favor. James had also asked for a summary judgment, however, asking that Trump be found liable ahead of the trial and the judge sided with the attorney general. James is seeking $250 million in penalties and the removal of Trump and his sons from the management of the family real estate firm, the Trump Organization. James claims that Trump and associates submitted "grossly inflated" numbers to banks and insurers each year between 2011 and 2021 "to secure and maintain loans and insurance on more favorable terms." They allegedly fraudulently overvalued the net worth of Trump company assets by billions of dollars, resulting in "hundreds of millions of dollars in ill-gotten savings and profits." James has alleged that the overvaluation of Trump's assets was between $1.9 billion and $3.6 billion per year. Trump, the frontrunner for the 2024 Republican presidential nomination, has denounced the case as a "witch hunt," calling James, who is a Democrat and Black, "racist." In January, the Trump Organization was fined $1.6 million by a New York judge in a criminal tax and financial fraud case. The 77-year-old twice-impeached Trump also faces federal criminal charges for the mishandling of classified documents and conspiracy charges for trying to overturn the 2020 election results. He also faces state charges for alleged hush money payments in New York and for pressuring state officials to overturn Joe Biden's 2020 presidential election victory in Georgia. Trump was also found liable in a civil trial in May for sexually abusing a one-time magazine columnist in 1996 and for defaming her in comments made last year. The post Trump committed fraud by inflating value of assets — judge appeared first on Daily Tribune......»»