PSC to closely monitor 5 PH-based Olympians
Sports officials will be closely monitoring the departure of five of the 19 Filipino athletes heading for the Tokyo Olympics......»»
Crypto crackdown intensifies on Hamas finance
Cryptocurrency has become the latest front in the conflict between Israel and Hamas, analysts say. Israeli and US authorities have intensified their financial hunt into Hamas in recent days as they track illicit funds via digital currencies. Ari Redbord, global policy head at crypto tracking specialist TRM Labs, said there is now less crypto transfer activity on pro-Hamas support networks as a result. "We are seeing a lot less activity in some respects since the war began," Redbord told AFP. This is "primarily because Israel has been very aggressive and successful in taking down these fundraising efforts", he added. Israel has bombed Gaza in response to an unprecedented cross-border attack by Hamas militants who, while firing a massive rocket barrage, killed more than 1,400 people and took 222 hostages on 7 October, according to Israeli authorities. Israeli strikes have now killed more than 6,500 people in Gaza, according to the Hamas-run health ministry. Shadowy world Cryptocurrency is regarded as a speedy way to move cash that is unregulated by any central bank and is less traceable than a traditional bank transfer. The shadowy world of digital units, based on decentralized blockchain technology, has gained notoriety for illicit transactions due to its under-the-radar appeal. Two weeks ago, Israeli police revealed they had located and frozen accounts linked to Hamas that sought "to solicit donations on social networks" via Binance, the world's biggest cryptocurrency exchange. A Binance spokeswoman said it "follows internationally recognized sanctions rules, blocking the small number of accounts linked to illicit funds". Redbord, formerly a senior US government adviser, said Hamas had adopted crypto from 2019 at the latest, to seek funding via the Telegram messaging network and even on its own website. Hamas decided in April that it would no longer accept cash via Bitcoin due to increased global surveillance of the world's biggest digital unit. Crypto fundraising is now operated via a network of Hamas-linked support groups. TRM Labs has closely monitored virtual crypto wallets linked to such support groups since the start of the war. And it has concluded that much smaller amounts of cash than usual are being moved. Two weeks after the attacks, support group Gaza Now received less than $6,000 in one of its crypto wallets, Redbord noted. That compared with $800,000 in total since the wallet's creation in August 2021. Meanwhile, authorities are well aware that digital assets are a minor part of a complex funding picture. The US State Department estimates that Iran funnels $100 million per year to Palestinian groups including Hamas. 'Small piece of puzzle' "Cryptocurrency is a very small piece of a larger financing puzzle for Hamas," said Redbord. "They are looking to Iran; they're... imposing taxes on the Palestinians; they have a network of charities and a diaspora of supporters who are sending donations not in cryptocurrencies." "But crypto does play a role," he said. Digital currencies still represent a significant revenue stream for Hamas and other allied groups. Crypto addresses identified by Israel as being linked to Hamas received about $41 million between August 2020 and July 2023, according to Israeli analytics and software firm BitOK. Other crypto addresses linked to Islamic Jihad received in excess of $154 million between October 2022 and September 2023, with some still active, it adds. Some players in the sector simply turn a blind eye. "Some cryptoasset businesses are intentionally or unwittingly allowing misuse of the crypto ecosystem," said Joby Carpenter, an expert on the industry. "This trend is magnified where exchanges are based in lightly or unregulated jurisdictions," he told AFP. The post Crypto crackdown intensifies on Hamas finance appeared first on Daily Tribune......»»
Bong Go appeals for immediate action to protect OFWs caught in Israel-Gaza Conflict
Senator Christopher "Bong" Go has issued an urgent appeal to various government agencies, including the Department of Migrant Workers (DMW), the Department of Foreign Affairs (DFA), and the Philippine Overseas Employment Administration (POEA), to conduct immediate action to account Overseas Filipino Workers (OFWs) affected by the ongoing conflict between Israel and Hamas in the Gaza Strip. As Vice Chair of the Senate Committee on Migrant Workers, Go emphasized the need for a swift and comprehensive inventory of affected OFWs, particularly those who may have been victims of violence. There is also a need to plan for their immediate repatriation when necessary. "The safety of our kababayans is paramount. I urge the DMW, DFA, and POEA to act swiftly and ensure that every Filipino worker is accounted for," said Go. The senator also appealed to OFWs to ensure their safety by coordinating with the Philippine Embassy in Tel Aviv. "I understand that many of you have built lives abroad, but your safety should always come first. Please coordinate with our embassy and avail yourselves of the government's assistance," Go advised. According to a recent report by the Overseas Workers Welfare Administration (OWWA), around 200 OFWs based in the Gaza Strip are currently being monitored due to the conflict. The Presidential Communications Office (PCO) has also released a statement on President Ferdinand R. Marcos, Jr.’s directive to DMW and OWWA to locate and account for all OFWs and their families in Israel. The government is also closely coordinating with the Philippine Embassy in Tel Aviv and the Migrant Workers Office (MWO) in Israel to ensure their safety and welfare. Meanwhile, DMW has opened a hotline, as well as several mobile numbers, to accept calls and queries from OFWs and the Filipino community who are in need of government assistance. Go urged OFWs to make use of these channels to protect fellow Filipinos. The senator is a long-time advocate of OFW welfare. He was one of the authors and co-sponsors of Republic Act No. 11641, which created the DMW. "The DMW Act was designed to protect our OFWs. Now, more than ever, it's time to put this law into action to protect our kababayans," Go emphasized. As the Israel-Gaza conflict continues to escalate, Go said that the Philippine government should take all necessary steps to ensure the safety and well-being of OFWs caught in the crossfire. "I call upon all relevant agencies to work hand in hand in this endeavor. Let us set aside bureaucracy and focus on immediate action. Lives are at stake here,” he urged. “Proteksyunan natin ang buhay ng bawat Pilipino nasaan man sila sa mundo lalo na ang mga itinuturing nating modern-day heroes na OFWs na nagtatrabaho para mayroong maitustos sa pamilya nilang naiwan,” he added,” Go concluded. The post Bong Go appeals for immediate action to protect OFWs caught in Israel-Gaza Conflict appeared first on Daily Tribune......»»
China interferes anew in WPS resupply mission, accuses Phl of ‘intruding’
The National Task Force on the West Philippine Sea reported the country’s successful rotation and resupply mission to BRP Sierra Madre in Ayungin Shoal last 4 October. But the task force said the fresh provisions to military personnel stationed in the Philippine Navy’s grounded ship in the Ayugin Shoal, delivered by the Armed Forces of the Philippines’ Western Command and the Philippine Coast Guard, were again blocked by the China Coast Guard and Chinese maritime militia vessels while traversing the Philippine waters off WPS. The Chinese ships harassed and interfered with the routine mission of the Philippine supply ships Unaizah May 1 and Unaizah May 2, escorted by PCG vessels BRP Cabra (MRRV-4409) and BRP Sindangan (MRRV 4407), while they were en route to BRP Sierra Madre, a warship-turned-military outpost of Filipinos in WPS. China has condemned the Philippines’ resupply mission, accusing Filipinos of “intruding [into] Chinese territory.” In a China Military website post, China Coast Guard spokesperson Gan Yu said the China forces issued warnings and conducted necessary control of four Filipino vessels that “illegally entered waters near the Ren'ai Reef" — the Chinese name for Ayungin Shoal, on Wednesday. "Philippine supply ships and two coast guard ships entered the waters in China's Nansha Islands without permission from the Chinese government," Gan said. The Chinese official said the CCG closely monitored the movement of the Filipino ships and "effectively regulated them in accordance with the law.” Gan noted that China’s intention of blocking was to “prevent” the Philippines from “shipping illegal construction materials” to the BRP Sierra Madre “that is illegally stranded in the Ren'ai Reef.” He then urged the Philippines “to immediately stop its infringing activities in the waters, stressing that China has indisputable sovereignty over the Nansha Islands and their adjacent waters, including the Ren'ai Reef.” “China Coast Guard will continuously carry out rights protection and law enforcement activities in the waters under China's jurisdiction in accordance with law,” he added. However, the NTF-WPS maintained that the resupply missions are part of the country’s regular operations “in line with domestic and international law and to ensure the safety and well-being of our stationed personnel.” “These missions are a legitimate exercise of the administrative functions of the Philippine Government over the WPS, in line with the UNCLOS, the 2016 Arbitral Award, and domestic laws,” it said. “The administration of President Ferdinand R. Marcos Jr. will remain steadfast in adhering to a rules-based international order,” the task force added. The post China interferes anew in WPS resupply mission, accuses Phl of ‘intruding’ appeared first on Daily Tribune......»»
Speaker Romualdez demands OTS chief Aplasca’s resignation
House Speaker Ferdinand Martin G. Romualdez on Monday demanded the resignation of the Office of Transport Security (OTS) Administrator, Undersecretary Ma. O Aplasca, for failing to put an end to the repeated nefarious activities of security screening officers (SSO) at the Ninoy Aquino International Airport (NAIA). The OTS chief was advised by Speaker Romualdez to tender his resignation before the House of Representatives tackles the OTS' budget. “Mag-resign ka na. Kung hindi ka magsa-submit ng resignation, ako mismo ang magba-block ng approval ng budget ng OTS,” Romualdez said. The House leader aired his frustration on Aplasca in the wake of reports of the latest incidence of money theft by a female OTS security scanner from a departing tourist. The OTS chief should submit his courtesy resignation under the principle of command responsibility to make way for a full revamp at the airport security office. “Naka-strike three na ang OTS chief. We are already fed up with these reports of stealing and other acts of wrongdoing at the airport for which OTS officials and their DOTr supervisors are ultimately responsible. A top-to-bottom overhaul is needed,” he added. “We cannot let these atrocious activities and other acts of misconduct at the airport continue to take place. It’s bad for the country and the economy,” Romualdez also stated. The Speaker pointed out that a foreigner, whether they are a tourist or a potential investor, gets their first exposure to the Philippines and its people when they encounter a government employee who processes them at the port of entry. This is an ugly incident that will certainly leave a discouraging and lasting impression. This is the reason why the government should deploy the finest personnel at ports of entry. It could be recalled that in March, when money was stolen by the SSO from a Thai tourist at NAIA Terminal 2, the leader of the 311-member House of Representatives recommended a complete revamp of OTS. Romualdez even recommended that the DOTr replace the entire OTS staff and only rehire individuals who would pass a rigorous screening procedure based on their honesty, effectiveness, and integrity. OTS and responsible DOTr officials committed to undertaking sweeping reforms. “What has happened to those commitments? Where are the reforms?" Speaker Romualdez asked. The Speaker also said that DOTr Secretary Jaime Bautista should closely watch his own backyard. Every now and then, they still hear of nefarious activities, aviation glitches, power equipment malfunctions and disruptions, and similar nasty things taking place at the airport. There may be people sabotaging him, Romualdez added. The post Speaker Romualdez demands OTS chief Aplasca’s resignation appeared first on Daily Tribune......»»
MIF Law nullification: Remote or certain?
In recent months, the Maharlika Investment Fund Law has stirred considerable controversy and debate in the Philippines. Enacted to promote economic development and address pressing issues in the country, this law has faced legal challenges and criticism from various quarters. The question that looms large is whether the Supreme Court will likely nullify this law. The Maharlika Investment Fund Law, also known as Republic Act 11954, was passed by the Philippine Congress and signed into law by the President on 18 July 2023. Its primary objective is establishing a government-managed investment fund to promote economic development, infrastructure projects, and poverty alleviation. The law outlines the creation of the Maharlika Investment Fund, or MIF, and its funding sources, including contributions from government agencies, public enterprises, and certain revenue streams. The MIF Law faced legal challenges from various individuals, groups, and organizations almost immediately after its enactment. Critics have argued that the law violates the Constitution on several grounds, including the separation of powers, the fiscal autonomy of local government units, and the due process clause. Let’s examine these legal arguments in more detail. Critics contend that the law violates the principle of separation of powers by allowing the executive branch to control and manage the funds allocated under the MIF. They argue that the legislature should have greater oversight and control over the allocation and disbursement of public funds. As the Constitution guarantees, local government units or LGUs in the Philippines enjoy fiscal autonomy. Opponents argue that the MIF law encroaches upon this autonomy by diverting funds that could otherwise be allocated to LGUs for their own development projects. Some critics also claim that the law’s provisions lack clarity and transparency, potentially leading to the arbitrary and unfair allocation of funds. They argue that this lack of due process could result in mismanagement and corruption. The Supreme Court’s decision on whether or not to nullify the Maharlika Investment Fund Law will depend on several factors, including legal arguments, political considerations, and the interpretation of the Constitution. The Court will carefully consider the legal arguments presented by both sides. It will assess whether the law indeed violates constitutional principles such as the separation of powers and fiscal autonomy. The strength and persuasiveness of these arguments will be pivotal. It may also examine previous decisions and legal precedents to guide its decision-making process. If there are past cases that bear similarities to the issues raised in the MIF law, these could influence the Court’s stance. While the Court is an independent institution, it operates within a political context. Public opinion and the perception of the law’s impact on society may indirectly influence the Court’s decision, as judges may be mindful of the broader implications of their ruling. The Supreme Court’s interpretation of the Constitution will play a central role. Justices may have differing views on interpreting constitutional provisions, which could lead to a split decision. Offhand, what are the chances then of the MIF Law being nullified? If the legal challenges successfully demonstrate that the law indeed violates fundamental constitutional principles, such as the separation of powers or the fiscal autonomy of LGUs, then the chances of nullification increase. However, if the Court finds that the law is consistent with the Constitution, it will likely be upheld. The political climate and public sentiment may also be influential factors. If there is widespread public support for the law and the government’s efforts to promote economic development, the Court may consider that when rendering its decision. Conversely, if there is strong opposition and concerns about the law’s impact on governance and fiscal management, the Court may be more inclined to scrutinize it closely. The prospects, therefore, of the Supreme Court nullifying the MIF Law are uncertain and will depend on a range of legal, political, and constitutional factors. Therefore, it is essential to remember that the Court’s decision should be based on thoroughly examining the law’s compliance with the Philippine Constitution, rather than political or public pressure. Ultimately, the judiciary’s role is to uphold the rule of law and protect the constitutionality of legislation, ensuring that justice prevails in the Philippines. The post MIF Law nullification: Remote or certain? appeared first on Daily Tribune......»»
Phl joins anew the global effort to protect oceans
Thousands of volunteers in over 150 countries, joined the International Coastal Cleanup (ICC) Day, a global initiative dedicated to addressing ocean pollution through beach and waterway cleanups held every third Saturday of September. Now in its 37th year, the Philippines has been participating in the ICC since 1994. In 2003, Proclamation No. 470 officially designated the third Saturday in September as ICC Day, instilling a sense of vigilance among Filipinos in their support of the ongoing global fight against marine litter. The theme "Clean Seas for Healthy Fisheries" is carried out by this year’s ICC which aligns closely with the objectives of the United Nations (UN) Ocean Decade Challenge 3 which is to “Sustainably Feed the Global Population”. This challenge recognizes the need to ensure sustainable food production from the ocean to feed the growing global population while safeguarding the health and productivity of marine ecosystems. The Department of Environment and Natural Resources in partnership with numerous organizations, took the lead in coordinating cleanups in various water bodies across the country. An estimated 35,000 volunteers armed with sacks, rakes, and gloves joined forces for the cleanup effort across the country. Participants included individuals and groups from the DENR workforce, national and local government agencies, academia, the private sector, youth organizations, civic groups, and civil society. Concurrent coastal cleanups led by various DENR offices and bureaus were held nationwide including key areas such as the Las Piñas-Parañaque Wetland Park; the Tullahan River along Barangay San Bartolome in Novaliches, Quezon City; Baseco Beach in Manila; the Balanga Wetland and Nature Park in Bataan; Barangay Butong Taal in Batangas; the Mactan Channel in Lapu-Lapu, Cebu; the Abatan River and Panglao in Bohol; Banica River in Dumaguete; Bais City, Negros Oriental; and along the shore of Pagadian Bay in Zamboanga Del Sur. The DENR regional and field offices also partnered with SM Supermalls, through its corporate social responsibility arm, SM Cares, together with SM Prime Holdings, Inc., in organizing clean-up drives in Luzon, Visayas, and Mindanao. Fifteen SM Malls were designated as a base that enabled volunteers, including SM employees, to actively participate in the cleanup drive. Likewise, regional offices of the Department have collaborated with UNTV offices across the country under the latter’s advocacy campaign Ocean Care Initiative. Beyond waste retrieval, ICC volunteers documented the volume of waste collected which will be submitted to Ocean Conservancy and UN Ocean Decade to contribute to global efforts to combat plastic pollution. During the 2022 ICC, findings of the Global Ocean Trash Index conducted by Washington, D.C.-based environmentalist advocacy group Ocean Conservancy showed that the Philippines collected 249.382 metric tons of waste. The collected waste encompassed a spectrum of items, including cigarette butts, beverage bottles, food wrappers, bottle caps, grocery bags, food containers, cups and plates, straws, and stirrers. DENR Secretary Antonia Loyzaga said her department's unwavering commitment to enacting effective solid waste management practices, supports a circular economy wherein all plastics are reused, recycled, repurposed, and responsibly managed. The DENR, she added, in collaboration with organizations, implements a range of programs to address solid waste in cities and municipalities nationwide. This is in support of reinforcing the Extended Producer Responsibility (EPR) Act of 2022 or Republic Act 11898 which mandates enterprises to establish EPR programs for plastic waste reduction, recovery, and diversion. The post Phl joins anew the global effort to protect oceans appeared first on Daily Tribune......»»
NextPay eases paying it forward
The streamlined end-to-end financial services of NextPay, a homegrown fintech platform, have enabled non-profit organizations to simplify their outreach, fee collections, and fundraising processes. NextPay chief executive officer and co-founder Don Pansacola pointed out that the platform’s efficient and seamless services translate to more equitable humanitarian and social programs. “We believe that NextPay is more than just an all-in-one financial tool for growing businesses in the Philippines. Simplifying fundraising and fund management also allows non-profit organizations to focus on their humanitarian and social projects,” Pansacola said. Likewise, NextPay noted that non-profit organizations utilize its payment acceptance solutions to facilitate regular membership fees, which are crucial in ensuring the success of its operations, programs and initiatives. With digitized payments, accounting and bookkeeping become more efficient, it said. Boon to charity groups Apart from crisis-related donation drives, the system plays a vital role in maintaining the continuity of their day-to-day operations, programs, and initiatives. For instance, the UP Vanguard, an organization closely associated with the University of the Philippines, has been leveraging NextPay’s core services in streamlining its non-profit’s operational work. “Apart from its minimal fees, NextPay is convenient and easy to use. It made my life easier!” UP Vanguard’s Judge Advocate General Michaela Marteja said. Notably, other humanitarian organizations may further use NextPay to pay their suppliers, disburse funds directly to beneficiaries in batches, and distribute their employees’ salaries. To date, NextPay has processed P21.5 million from over 1,500 transactions for its non-profit organization clients. NextPay is backed by Silicon Valley-based startup accelerator Y Combinator, Singapore-based VC firm Golden Gate Ventures, the Ayala Group’s Kickstart, and Gentree Fund, the private investment vehicle of the Sy Family of the SM Group conglomerate and other investors. The post NextPay eases paying it forward appeared first on Daily Tribune......»»
150 dead as ‘catastrophic’ storm floods hit east Libya
At least 150 people were killed when freak floods hit eastern Libya, officials said Monday, after storm "Daniel" swept the Mediterranean, its torrential rains earlier lashing Turkey, Bulgaria and Greece. Images filmed by residents of the Libyan disaster area showed massive mudslides, collapsed buildings and entire neighborhoods submerged under muddy water. "At least 150 people were killed as a result of flooding and torrential rains left by storm Daniel in Derna, Jabal al-Akhdar region and the suburbs of Al-Marj," said Mohamed Massoud, a spokesman for the Benghazi-based administration in Libya. "This is besides the massive material damage that struck public and private properties," he told AFP. Hundreds of residents were still believed to be trapped in difficult-to-reach areas as rescuers, backed by the army, were trying to come to their aid. East Libyan authorities had "lost contact with nine soldiers during rescue operations", Massoud said. He said the prime minister of the east-based government, Oussama Hamad, and the head of a rescue committee as well as other ministers had travelled to Derna to evaluate the extent of the damage. Hamad's government -- which in war-battered Libya rivals an UN-brokered, internationally recognized transitional administration in Tripoli -- on Monday declared Derna a "disaster area". Libya's western government under Abdelhamid Dbeibah, during an extraordinary ministerial meeting broadcast live on television, announced three days of national mourning and emphasized "the unity of all Libyans" in the face of the disaster. The National Petroleum Company, whose main oilfields and terminals are in eastern Libya, declared "a state of maximum alert" and suspended flights between production sites where activity was drastically reduced. Experts have described storm Daniel -- which killed at least 27 people when it struck parts of Greece, Turkey and Bulgaria in recent days -- as "extreme in terms of the amount of water falling in a space of 24 hours". 'Severe weather' A Derna city council official described the situation in the city as "catastrophic" and in need of "national and international intervention", speaking to the local TV channel Libya al-Ahrar. He reported the collapse of four main bridges and two buildings in Derna, a city of 100,000 people that lies in a river wadi 900 kilometers (560 miles) east of the capital Tripoli. The storm struck eastern Libya on Sunday afternoon, hitting especially the coastal town of Jabal al-Akhdar but also Benghazi, where a curfew was declared and schools closed for several days. The United Nations mission in Libya on Monday said on X, formerly Twitter, that it was "closely following the emergency caused by severe weather conditions in the eastern region of the country". It expressed its condolences over the deaths and said it was "ready to support efforts by local authorities and municipalities to respond to this emergency and provide urgent humanitarian assistance". Libya, sitting on Africa's largest known oil reserves, was plunged into chaos following the 2011 NATO-backed uprising that toppled and killed former dictator Moamer Kadhafi. Two rival governments based in the west and east have been vying for power, with deadly conflict occasionally erupting. The French ambassador to Libya, Mostafa Mihraje, also offered his condolences and expressed his "solidarity with the Libyan people in this ordeal", also in a message on X. In neighboring Egypt, authorities called for caution on the northern coast which borders eastern Libya, and announced they were beginning preparations to minimize the impact of Storm Daniel. The weather forecast predicted more heavy rain in coming days there. As the world warms, the atmosphere contains more water vapor which increases the risk of heavy precipitation in some parts of the world. Combined with other factors such as urbanization and land-use planning, these more intense rainfall events contribute to flooding. The post 150 dead as ‘catastrophic’ storm floods hit east Libya appeared first on Daily Tribune......»»
Teodoro: China’s Ayungin Shoal actions ‘dangerous, irresponsible’
Defense Secretary Gilberto Teodoro Jr. slammed the recent actions of China against the Philippine vessels conducting a rotation and resupply mission to the BRP Sierra Madre in the Ayungin Shoal in the West Philippine Sea as an "irresponsible and egregious violation of maritime safety". “The Philippine Coast Guard vessels were once again dangerously harassed. This is to me irresponsible behavior on the part of the Chinese Coast Guard and I think that the world knows who is in the right here so it does need much more saying or talking about,” Teodoro said in a media interview in Philippine Navy headquarters at Naval Station Jose Andrada, Roxas Boulevard, Manila. “The world has reacted before to the water cannoning,” he added, Though China did not use water canon this time, Teodoro lamented that it did perform “more dangerous maneuvers” against the Philippine vessels. “I think what has to be underscored here is that wala ngang water cannoning pero mas delikado ang mga maniobrang ginawa nila sa mga kasama nating PCG (I think what has to be underscored here is that while there was no water cannoning, the CCG vessels conducted more dangerous maneuvers against our PCG),” Despite China’s increasing aggressions, Teodoro said the Armed Forces of the Philippines and the PCG will continue to hold its RoRe mission to the Ayungin Shoal. Teodoro sees the need to look closely at the upgrading of the PCG and the Philippine Navy to be able to effectively attend to maritime security threats and protect the welfare of Filipino fisherfolk. “They need to have capabilities for protecting Filipino vessels, maritime safety and security — what the Chinese Coast Guard doing is an egregious violation of maritime safety,” the defense chief said. Teodoro maintained that the Philippines is strictly following the rules-based international order. “Tayo dire-deretso lang nag-iiskort ng ating RoRe vessels e sila nanggigitgit ng ganun. So sino ang iresponsable dito? Sa akin obvious na po ang kasagutan (We are only escorting our RoRe vessels while they are harassing us like that. So who is being irresponsible here? For me, the answer is already obvious),” he said. The post Teodoro: China’s Ayungin Shoal actions ‘dangerous, irresponsible’ appeared first on Daily Tribune......»»
ERRAMON Aboitiz: Renaissance man
The Aboitiz family is a big player in Philippine business for over a century. With businesses covering a wide range of industries, including power, banking, food, and infrastructure, the clan’s Aboitiz Group has been creating jobs and opportunities for Filipinos. Founded by Paulino Aboitiz, son of a Spanish farmer who migrated to the Philippines in the late 1800s, Aboitiz Equity Ventures Inc., or AEV, has grown from being an abaca-trading and general-merchandise business to a conglomerate with interests in power, banking, food, property, biofuel and construction. The group is undergoing its Great Transformation to establish itself as the Philippines’ pioneering techglomerate. This innovative growth strategy, powered by technology and a renewed entrepreneurial mindset, empowers the entire group to advance businesses and uplift communities. Among the driving forces propelling the Group’s business revolution is Erramon “Montxu” Aboitiz. Montxu previously served as the president and chief executive at Aboitiz Equity Ventures for 10 years from 2009 to 2019. He also briefly held the role of CEO at Aboitiz Power Corp. in 2018. Presently, he serves as a director at AEV and Endeavor Philippines and as chairman of the Board of Directors at Union Bank of the Philippines. Likewise, he serves as a board observer of the Aboitiz & Company. The Asian Institute of Management named Montxu as the new chairman of its Board of Trustees, effective from 1 September 2023. Montxu joined a respected group of successful business leaders who are dedicated to advancing the progress and welfare of Asia and its inhabitants. He was the 7th chairman of AIM, taking over from Peter Garrucho who held the position since 2017. Montxu graduated from Gonzaga University in Spokane, Washington, USA with a Bachelor of Science degree in Business Administration, majoring in Accounting and Finance. In 2011, he was awarded the Management Man of the Year by the Management Association of the Philippines and recognized as the Entrepreneur of the Year by Ernst & Young. Seven years after that, AIM awarded Montxu with an honorary doctorate in management. Social responsibility runs in Aboitiz blood The Aboitiz Foundation, the social responsibility arm of the Aboitiz Group, donated $10 million to AIM in 2019 — known as the Aboitiz 100th Anniversary Commitment Fund. The fund aims to bridge the local and regional gap in data science and innovation. As a result of this generous donation, AIM’s Aboitiz School of Innovation, Technology, and Entrepreneurship is now able to provide top-notch education and research opportunities in data science, with a focus on practical applications. This is made possible by collaborating with data science professionals and leaders from around the world. Recently, Montxu was elected chairperson of the AIM board of trustees. He is widely recognized for his strong commitment to social responsibility and philanthropy. Regarding the endowment to AIM, Montxu said it targeted assisting AIM in its efforts “to expand its curriculum and facilities towards the direction of a bold future, and the skills and education it will require.” Through his leadership in the Aboitiz Group and the Aboitiz Foundation, he has spearheaded numerous projects that have made a positive impact on local communities. As chairman of the Aboitiz Foundation, Montxu has played a key role in shaping its initiatives. The foundation focuses on three key areas which are education, enterprise development, and environmental conservation. “As businessmen, there is no doubt we seek profits and a return on our capital. But as Filipinos, we are equally guided by a sense of purpose to find meaningful ways of contributing to our communities across the country. This symbiotic relationship of profit and contributing to society is our secret sauce to true sustainability, allowing the Aboitiz Group to drive change for a better world by advancing business and communities,” Montxu added. The foundation implemented various programs and scholarships to improve access to quality education, foster entrepreneurship and livelihood opportunities, and promote sustainability. Aboitiz Foundation has been heavily involved in rehabilitating and improving schools in underprivileged areas. They have renovated classrooms, libraries and other facilities, providing students with better learning environments. The foundation has also donated learning materials and equipment to enhance the educational experience of students. Aboitiz Foundation supports community-based programs that aim to uplift marginalized communities. These programs focus on various aspects such as health, nutrition, livelihood, and disaster resilience. The foundation works closely with local organizations and stakeholders to implement sustainable solutions and empower communities to become self-sufficient. Aboitiz Foundation places significant emphasis on environmental conservation and sustainability. They have initiated projects to protect and restore ecosystems, promote renewable energy, and reduce carbon footprint. The foundation actively supports reforestation efforts, marine conservation, and waste management initiatives. The foundation also has a strong focus on disaster response and preparedness. They have been at the forefront of providing immediate relief and support during natural disasters, such as typhoons, earthquakes and floods. The foundation also works towards building resilient communities by conducting disaster risk reduction and management training programs. Montxu Aboitiz encourages and supports employee volunteerism within the Aboitiz Group. The company promotes a culture of giving back by providing employees with opportunities to engage in community service and volunteer activities. This not only benefits the communities they serve but also fosters a sense of social responsibility among the employees. It also collaborates with various non-governmental organizations, government agencies, and other stakeholders to maximize the impact of their social responsibility initiatives. They work together to address complex social issues and implement sustainable solutions that create lasting change. Aligned with the United Nations Global Compact, AEV drives policies, advocacies, and initiatives to make a lasting impact. The post ERRAMON Aboitiz: Renaissance man appeared first on Daily Tribune......»»
DHSUD, UPAC create group to solve housing issues
A technical working group focused on solving housing issues has been created by the Department of Human Settlements and Urban Development (DHSUD) and the Urban Poor Action Committee (UPAC) to address shelter woes. The TWG, with member representatives from DHSUD, UPAC, National Housing Authority, and Social Housing Finance Corporation, aims to craft programs that will make public housing more accessible to the underserviced sectors. “The creation of this TWG was in response to the clamor of urban poor groups. It will primarily focus on issues that remain unresolved for decades now. I can see complexities on the concerns but by uniting and helping each other, we can find ways to appropriately address gaps in the sector,” said DHSUD Secretary Jose Rizalino Acuzar in a statement Sunday. "Ito po ay nagpapatunay na ang Marcos administration at ang DHSUD ay nakikinig sa lahat ng stakeholders, at inuuna po natin ang mga kababayan nating mahihirap," he added. Members of urban poor groups consist of informal settler families, residents living near danger zones, especially in river banks and coastal areas, and beneficiaries of government housing programs. During its first meeting Thursday, led by Assistant Secretary Daryll Bryan Villanueva, the discussion has identified the functions of each group to move toward effectively resolving various housing resettlement concerns. The TWG also tackled UPAC’s People’s Plan which proposes a more participative and solution-based housing plan involving the beneficiaries from planning to program sustainability plans. “We also see challenges in the implementation of previously issued presidential proclamations and NHA housing projects. But with this TWG and our working relationship with involved agencies, we can tell that concrete solutions are underway,” assured Secretary Acuzar. Earlier this year, the housing czar engaged leaders and members of UPAC in an open dialogue to tackle concerns of different urban poor organizations and align their recommendations to President Ferdinand R. Marcos Jr.’s Pambansang Pabahay para sa Pilipino Housing (4PH) Program. UPAC which represents 205,000 families from various groups, headed by lead facilitator Alice Murphy, vowed to work closely with the government to properly implement any approved provisions under 4PH. The post DHSUD, UPAC create group to solve housing issues appeared first on Daily Tribune......»»
DHSUD, urban poor activate TWG to address shelter woes
Department of Human Settlements and Urban Development Secretary Jose Rizalino Acuzar on Sunday said the DSHUD and the Urban Poor Action Committee (UPAC) recently activated a technical working group (TWG) that will harmonize efforts in providing decent shelters to more Filipinos, particularly the underprivileged. “The creation of this TWG was in response to the clamor of urban poor groups. It will primarily focus on issues that remain unresolved for decades now. I can see complexities on the concerns but by uniting and helping each other, we can find ways to appropriately address gaps in the sector,” Acuzar said. The TWG, with member representatives from DHSUD, UPAC, National Housing Authority, and Social Housing Finance Corporation, aims to craft measures for immediate implementation of programs that will make public housing more accessible to the underserviced sectors, particularly the urban poor. "Ito po ay nagpapatunay na ang Marcos administration at ang DHSUD ay nakikinig sa lahat ng stakeholders, at inuuna po natin ang mga kababayan nating mahihirap," Acuzar explained. Members of urban poor groups consist of informal settler families, residents living near danger zones, especially in river banks and coastal areas, and beneficiaries of government housing programs. During its first meeting Thursday, led by Assistant Secretary Daryll Bryan Villanueva, the discussion identified the functions of each group to move toward effectively resolving various housing resettlement concerns. The TWG also tackled UPAC’s People’s Plan which proposes a more participative and solution-based housing plan involving the beneficiaries from planning to program sustainability plans. “We also see challenges on the implementation of previously issued presidential proclamations and NHA housing projects. But with this TWG and our working relationship with involved agencies, we can tell that concrete solutions are underway,” Acuzar said. Earlier this year, the housing czar engaged leaders and members of UPAC in an open dialogue to tackle concerns of different urban poor organizations and align their recommendations to President Ferdinand R. Marcos Jr.’s Pambansang Pabahay para sa Pilipino Housing (4PH) Program. UPAC, which represents 205,000 families from various groups headed by lead facilitator Alice Murphy, vowed to work closely with the government to properly implement any approved provisions under 4PH. The post DHSUD, urban poor activate TWG to address shelter woes appeared first on Daily Tribune......»»
Analyst: Look out for BRICS
The government must not only monitor China’s actions in the West Philippine Sea but also the developing countries’ bloc of Brazil, Russia, India, China and South Africa, or BRICS. BRICS members are considered the emerging geopolitical rivals to the G7 group of advanced economies. UST Political Science professor Marlon Villarin said China wanted to resolve the conflict in the West Philippine Sea through economic, not legal, terms. “We should watch BRICS closely. This is an international alliance, particularly now that it has attracted new members which are backers of China,” Villarin said when he guested on the program “Hot Patatas” of DAILY TRIBUNE and Dyaryo Tirada Wednesday. Villarin said that despite China’s tactics in asserting its maritime claim, some nations maintain a soft approach to China, like the United Kingdom, because of its economic stakes in China, such as the minerals needed for solar power and electric batteries. “When it comes to technology, China has strong leverage. For example, minerals are used to produce solar power and electric batteries. So, we should ask about the reasons for not antagonizing China. Is the economic leverage successful in convincing some countries to keep their peace?” he said. Take down app The National Security Council, meanwhile, has called on the government to “seriously consider” banning the Chinese social media application TikTok among local security officials. Jonathan Malaya, assistant director general of the NSC, suggested in a news forum, noting that the council had yet to conduct a complete study on whether or not the TikTok app was being used by China in the Philippines to promote its propaganda. “We should seriously consider it for the security sector alone, not for the civilian agencies of government,” Malaya said. TikTok faces increasing limits and bans on a global scale. In the US, a looming ban is under review while a recent congressional hearing grilled TikTok CEO Shou Zi Chew. Several countries across North America, Europe, and Asia have implemented some level of restriction on the app, mainly over privacy and cybersecurity concerns connected to its parent company, ByteDance, which has ties to the Chinese government. International government bodies, including the European Commission and NATO, have banned their staff from using TikTok on their corporate phones. “Maybe if there is a need to ban, it will not be for public school teachers, it will not be for civilians, but it will be for the armed personnel,” Malaya said. NSA to be consulted Malaya said there was a thorough discussion with National Security Adviser Eduardo Año on the matter. “We will need to study this very carefully, based on national security considerations. We will discuss this with the National Security Adviser if it will be proper for the Philippines to take this step,” he said. Meanwhile, the Armed Forces of the Philippines assured that measures are in place to protect the national security from internal and external threats. The post Analyst: Look out for BRICS appeared first on Daily Tribune......»»
Play relives Filipinos in Israel
Israel in Manila is paying homage to OFWs and late Migrant Workers Secretary Toots Ople through a one-act play by Israeli improv group Duda showing in Manila throughout the weekend. Duda presented a show based on the stories of some OFWs in Israel that the group interviewed prior to their performance in Manila. In attendance to the improv show held on 6 September were relatives of the OFWs in Israel, family and friends of then Secretary Ople, officials from the DMW, members of the diplomatic community, government officials, and friends of the embassy. There are around 30,000 Filipinos working as caregivers and hotel workers in Israel. The Israel is working closely with the Philippines, especially with the Department of Migrant Workers, to ensure that their rights are protected and respected. They are provided with medical insurance, pension fund, yearly leave with pay, and all of the social rights given under Israeli labor rules. The labor market in Israel is regulated by the rights of the employees. Ambassador Fluss also highlighted the OFWs in Israel who are hardworking, compassionate, and notable for their world-class care. He remembered Ople’s dedication as an advocate for OFWs: “In my close collaboration with her, I had the privilege of witnessing her unwavering commitment and compassionate leadership. Her unique blend of pragmatism and empathy made her a formidable advocate for OFWs. Together, we faced numerous challenges, driven by our shared commitment to enhance the lives of these unsung heroes. Her legacy of compassion, justice, and solidarity continues to inspire us all.” Improvisation or improv is a form of live theater in which the plot, characters, and dialogue of a story are unscripted and created spontaneously by the performers. Duda is one of the groups performing at the Manila Improv Festival which is the biggest improv festival in Asia. The group will be the opening act of the festival on 8 September at 7:30 p.m. in Ayala Malls Circuit Makati. This is the second time for Duda to join the improv fest in Manila, the first one was way back in 2019. In addition to the performances, the group is expected to do a workshop on applied improv with Filipino medical practitioners and an outreach event in an orphanage. Fluss acknowledged the deep relations between the Philippines and Israel, a historical, profound bond rooted in shared values and fortified by vibrant cultural cooperation: “Cultural collaboration has played a pivotal role in reinforcing this bond. Through a rich tapestry of cultural exchanges, we have deepened our understanding of each other’s heritage and fostered a sense of unity and camaraderie. Culture is the bridge that connects our hearts and minds.” The post Play relives Filipinos in Israel appeared first on Daily Tribune......»»
US, Chinese and Russian officials gather at Southeast Asia summit
US Vice President Kamala Harris, Chinese Premier Li Qiang, and Russian Foreign Minister Sergei Lavrov will attend an East Asia summit in Indonesia on Thursday, offering an opportunity for direct, high-level diplomacy between the rivals. The 18-nation meeting will bring Washington and Beijing into contact a day after Premier Li Qiang warned major powers must manage their differences to avoid a "new Cold War", ahead of the G20 summit in New Delhi this week where Chinese President Xi Jinping will be absent. Interactions between the officials from the world's top two economies will be closely watched as they seek to control tensions that risk flaring anew over issues ranging from Taiwan to ties with Moscow and the competition for influence in the Pacific. "To keep differences under control, what is essential now is to oppose picking sides, to oppose bloc confrontation, and to oppose a new Cold War," Li told regional leaders on Tuesday. Harris held her own talks with Southeast Asian leaders on "the importance of upholding international law in the South China Sea", according to a statement from her office, the disputed waterway where Chinese claims have angered several Southeast Asian nations. Thursday's summit will be the first time top US and Russian officials have sat around the same table in almost two months after US and European officials condemned Lavrov at a July ministerial meeting over Russia's invasion of Ukraine. It comes as US Secretary of State Antony Blinken announced $1 billion in new assistance to Ukraine in a surprise visit to Kyiv on Wednesday. Indian Prime Minister Narendra Modi, Japanese PM Fumio Kishida, South Korean President Yoon Suk Yeol, Canada's Justin Trudeau, and Australian PM Anthony Albanese will attend the summit, as well as leaders from the Association of Southeast Asian Nations. G20 host Modi addressed ASEAN leaders on Thursday morning, telling them it is essential to "build a post-Covid rules-based world order" and make collective efforts to ensure a "free and open Indo-Pacific", using another term for the Asia-Pacific region. Thursday's talks come several months after Blinken traveled to Beijing, the first visit by the top US diplomat in nearly five years, where he met Xi as well as former foreign minister Qin Gang. - 'Broken' - The meeting was not expected to be a fiery affair despite the differences between the major powers, according to a Southeast Asian diplomat who will attend. "They will state their positions, these meetings are not tense. Especially at the leaders' level where some degree of decorum will be observed." The group will issue a negotiated joint statement after the summit. While the gathering can bring major players together, its ability to help resolve a range of regional and global disputes is limited, experts say. "It's a sign of the ASEAN convening power but lately we can say that the East Asia summit is broken. It has been turned into a forum for talking points," said Aaron Connelly, senior fellow at Singapore-based think tank IISS. While Thursday's meeting will be more geopolitical in scope, big powers used earlier talks in Jakarta to shore up alliances and lobby the Southeast Asian bloc. Li traveled on a Chinese-funded high-speed train project between the capital Jakarta and the Javan city of Bandung with a senior Indonesian minister on Wednesday. Harris held separate meetings with Indonesian President Joko Widodo and Philippine President Ferdinand Marcos Jr. -- both ASEAN members -- on the sidelines of the summit. "The Vice President reaffirmed the United States' ironclad alliance commitment to the Philippines, and highlighted the role the US-Philippines alliance plays in ensuring a free, open, and prosperous Indo-Pacific," her office said in a statement. South Korea's Yoon reportedly pushed for the bloc to counter North Korea's nuclear threats, calling for any military cooperation with the country to stop. United Nations Secretary-General Antonio Guterres will also give an address on the sidelines of the summit later on Thursday. ASEAN members are holding bilateral meetings with India, Australia, and the UN on Thursday. The post US, Chinese and Russian officials gather at Southeast Asia summit appeared first on Daily Tribune......»»
Chipmaker Arm aims for $52-B valuation in NY listing
British chip maker Arm, owned by Japan's SoftBank, will target a valuation of up to $52 billion when it lists on the New York Stock Exchange later this month, the company said Tuesday. The company is looking to raise between $4.5 and $5.2 billion in its initial public offering (IPO), it announced in a filing, which would make it one of the largest tech IPOs in recent years. Arm is a world leader in designing chips that are used in smartphones across the world and aims to be a major player in artificial intelligence. Arm's IPO comes on the heels of a surge in the share price of chipmakers like Nvidia amid a boom in interest in companies building the hardware needed for AI to flourish in the wake of the successful launch of the chatbot ChatGPT. Rare tech IPO Arm's IPO is being closely watched by the financial markets, with large tech IPOs something of a rarity in recent months, as rising interest rates have pushed traders to take less risky financial decisions. In 2022, the number of IPOs worldwide fell by more than 60 percent year-on-year, while the value of these deals dropped by 45 percent. Under these conditions, Arm's deal would be one of the largest IPOs in the tech sector since Alibaba's Wall Street IPO in 2014, which raised $25 billion at the time. The valuation target announced by Arm on Tuesday is much lower than SoftBank's earlier estimate of more than $60 billion. However, it is still considerably more than the approximately $32 billion Softbank paid for Arm back in 2016. Majority shareholder The document filed with the US Securities and Exchange Commission said more than 95 million shares would initially be offered on the Nasdaq exchange at a price of between $47 and $51 per share. The number of shares listed could rise up to 102.5 million in case of strong demand. All of the shares being sold are existing shares owned by Softbank, and all of the money from the IPO would go to the Japanese company. Softbank will continue to own around 90 percent of the company after the listing. Tech giants including Nvidia, Apple, Samsung Electronics, and Intel are interested in investing in Arm once the company is listed, according to numerous press reports. Arm will remain headquartered in the British city of Cambridge and may consider a second listing on the London Stock Exchange, where it was previously listed before its takeover by Softbank in 2016. Founded in 1990, the British company has some 6,000 employees in Europe, Asia, and the United States. Its sales for 2022 were stable at $2.7 billion. Its processors "provided cutting-edge computing for over 99 percent of the world's smartphones" the company said in 2022, estimating that "around 70 percent of the world's population uses products" based on its technology. Arm's parent company SoftBank has experienced numerous difficulties in recent years. Its most high-profile failure came with the dramatic collapse of the American shared office giant WeWork. Once valued at $47 billion, WeWork saw its valuation plummet amid investor concerns over its corporate governance under its controversial chief executive Adam Neumann. The post Chipmaker Arm aims for $52-B valuation in NY listing appeared first on Daily Tribune......»»
BBM, hoarders in test of wills over price cap
President Ferdinand Marcos Jr. left yesterday for Indonesia, but not before taking a potshot at smugglers and hoarders over the spiraling price of rice that necessitated his issuance of a price cap on the staple grain. Marcos in his departure speech said that even as he attends the 43rd Association of Southeast Asian Nations Summit, controlling the rice price surge will be top of mind. Early in his presidency, Marcos said he would work to bring down the price of rice to P20 a kilo, half of the P41 to P45 per kilo price ceiling he imposed via Executive Order 39, signed by Executive Secretary Lucas Bersamin, last Thursday. The President was adamant that there is no valid reason rice should be selling for upwards of P50 per kilo, considering that data from the Department of Agriculture showed that with the coming rice harvest and imports, there’ll be enough rice buffer stocks to last the year. “Based on our studies, the only reason for this is that there are smugglers and hoarders,” he said in Filipino. The price cap — P41 per kilo for regular-milled rice and P45/kilo for the well-milled variety — will be implemented starting today, 5 September. Rice retailers across the nation were one in saying that they could not possibly sell at below their purchase price despite the government’s threat to penalize violators of EO 39. Monitoring teams from the DA and the trade, local government and justice departments, along with those from local government units, will go around wet markets and supermarkets to ensure compliance with the price cap. Temporary measure Earlier, Marcos tried to assure traders and the public that the price ceiling would be temporary while waiting for local farmers to harvest their palay. “I need to explain that this is only temporary. It won’t last long. We are harvesting rice, we are harvesting rice here in the Philippines, [until] the season is over,” he stressed. “And so when the time comes, we’ll also have imported rice. It will come in at the same time [as the local harvest]. We will take it to the market, we will let rice retailers cap their own prices,” he added. The President said he will work with ASEAN leaders during the summit to address the various challenges facing the region, including the territorial irritants in the South China Sea (see related story). As the “epicenter of growth” in Asia, ASEAN-member countries can play a big role in ensuring food security, calling for climate justice, protecting migrant workers, and fully tapping the potential of digital economies. “We will foster cooperation with these countries in areas such as trade and investment, climate action, food security, clean energy, and maritime cooperation,” Marcos said, before boarding his plane with First Lady Liza Araneta-Marcos. Marcos said he will also take part in the ASEAN Plus 3 and East Asia summits where he will discuss developments in the South China Sea, the situation in Myanmar, and the Russia-Ukraine conflict. Welcomed “ASEAN has always been closely intertwined with Philippine foreign policy,” the President said. “My administration will continue to ensure that our constructive engagements with ASEAN, our dialogue partners, and stakeholders will serve our national interest and the wellbeing of the Filipino people.” The ASEAN Summit is the second to be held in Indonesia this year after the one held in Labuan Bajo last May. House lawmakers welcomed the rice price ceiling set to be enforced today but expressed reservations, including making it more “flexible” based on prevailing regional market conditions. Albay Rep. Joey Salceda said, “The situation will vary per region, so a national rice price ceiling should be made more responsive to local supply-demand dynamics.” Salceda emphasized that increasing domestic supply and diversifying importation sources like Pakistan and the United States should be the long-term solution. “We’ve seen this crisis before. We know how to deal with it. It mostly involves signaling to our world partners that we will not over-import so that they don’t anticipate and drive prices up,” Salceda said. Independent opposition lawmaker Edcel Lagman said that Marcos should have imposed the rice price cap when the commodity was being sold at P50 to P60 per kilo. Speaker Martin Romualdez on Monday declared that P2 billion sourced from this year’s budget will be earmarked to aid rice retailers who may be affected by the price cap. @tribunephl_Lade @tribunephl_eao The post BBM, hoarders in test of wills over price cap appeared first on Daily Tribune......»»
Marcos off to 43rd ASEAN Summit in Jakarta
President Ferdinand Marcos Jr. on Monday said that he will use the opportunity to advance the Philippines' priorities in the upcoming 43rd Association of Southeast Asian Nations or ASEAN Summit in Jakarta, Indonesia, and work with other member states to address the region's challenges. In his departure speech, Marcos highlighted the importance of ASEAN as an "epicenter of growth" and said that he would work to deepen the region's partnerships with other countries. “I will highlight our advocacies in promoting a rules-based international order, including in the South China Sea; strengthening food security; calling for climate justice; tapping the potential of the digital and creative economies; protecting migrant workers in crisis situations; as well as combatting trafficking in persons," Marcos said. "We will foster cooperation with these countries in areas such as trade and investment, climate action, food security, clean energy, and maritime cooperation," he added. He will also participate in the ASEAN Plus 3 and East Asia Summits, where he will discuss the developments in the South China Sea, the situation in Myanmar, and the conflict in Ukraine. "ASEAN has always been closely intertwined with Philippine foreign policy," Marcos said. "My administration will continue to ensure that our constructive engagements with ASEAN, our dialogue partners, and stakeholders, serve our national interest and the wellbeing of the Filipino people." The 43rd ASEAN Summit is the second ASEAN summit to be held in Indonesia this year. The first summit was held in Labuan Bajo last May. The upcoming 43rd summit is expected to be significantly larger compared to the previous 42nd summit. Representatives from ASEAN dialogue partners will meet in Jakarta for a series of summits throughout the week. The post Marcos off to 43rd ASEAN Summit in Jakarta appeared first on Daily Tribune......»»
‘Sacrifice,’ traders urged over rice cap
Consumers reeling from skyrocketing rice prices felt relieved after President Ferdinand “Bongbong” Marcos Jr. imposed a cap on prices, but traders said the EO would have a painful effect on them. The Department of Trade and Industry, or DTI, thus asked retailers to sacrifice a little and prioritize the welfare of most Filipinos. Executive Order 39 placed a cap on the price of regular milled rice at P41 per kilo and for well-milled rice at P45 per kilo. “The government is asking retailers to help uplift the welfare of the majority of Filipinos. Based on the DTI’s computation, they can sell within the cap at which they are not expected to lose but profits will not be big,” said DTI Assistant Secretary Agaton Uvero in a news forum in Quezon City on Saturday. The price cap is a temporary solution to the ballooning rice prices which, he said, was caused by hoarders. “The price is excessive and extraordinary. There is apparent hoarding, profiteering, and price manipulation happening right now. This should be investigated, and warehouses should be checked,” he added. Local farmers to get hit Meanwhile, Raul Montemayor, president of the Federation of Free Farmers, aired concerns that Marcos’s EO would cause palay prices to go down. He said farmers from Pampanga and Sultan Kudarat had already reported a P3 per kilo decrease in palay prices. “Prices of palay will fall. So, when we need farmers to increase their output, the EO will be sending them a message to the contrary,” he said, adding that the reduction could be as high as 20 percent in one day. “The government should contemplate the effects of the EO on farmers,” he said. On the other hand, the traders group Philippine Rice Industry Stakeholders Movement, or PRISM, has expressed its readiness to continue working with the government to provide consumers with affordable and quality rice after the issuance of the EO. While some industry stakeholders were not receptive to the EO, PRISM lead convenor Rowena Sadicon said her group knows that it is the President’s prerogative to issue such a directive, as she expressed hope PRISM members would understand the position of the Chief Executive. She expressed hope for normalcy in the coming days, particularly with the start of the palay harvest season, which should stabilize rice prices in the country. Price monitors fan out The DTI said it would mobilize its price monitors and work closely with the Department of Agriculture, other national agencies, and the local chief executives. Local Price Coordinating Councils will be activated to effectively implement the mandated price caps. “We recognize the urgency of addressing the escalating rice prices in the market. In parallel, it is imperative to maintain stringent oversight over rice pricing and supply to preclude any potential hoarding and price manipulation by traders and retailers,” Trade Secretary Fred Pascual said. “To fortify our monitoring and enforcement mechanisms, the DTI will mobilize its price monitors and engage with local government units to activate their Local Price Coordinating Councils,” he said, even as he emphasized that the price caps will not apply to special and premium rice. The Samahang Industriya ng Agrikultura or Sinag lauded the government’s move. “There is no reason for any price increase these past weeks as there is no rice shortage in the country,” Sinag executive director Jayson Cainglet said. Cainglet said traders capitalized on the initial public panic after the National Food Authority on 31 July, disclosed that its buffer stock was only good until the first quarter of 2024. “And we have yet to include the expected 7 million metric tons of rice this harvest season,” he said. “At any given time, our buffer stock is good for 50-60 days, prior to the onset of the harvest season later this month.” No to ‘mislabeling’ Pascual on Friday said government inspectors will make the rounds to guard against the mislabeling of rice varieties in local markets. Penalties await merchants who will try to circumvent the price ceiling using this scheme, he said. Pascual explained that only regular and well-milled rice are covered by the price ceiling, and premium rice is not. “We will make sure that the rice varieties subject to the price ceiling, regular and well-milled rice, are not mislabeled as premium rice,” the trade chief said. “We have monitoring teams who will go around.” “Also, the Department of Agriculture will issue guidelines so that we can distinguish premium varieties from the varieties covered in the price act,” Pascual said. Retailers found violating the price ceiling face imprisonment from under a year to 10 years, or fines ranging from P5,000 to P1 million, or both. As of Friday, locally produced regular milled rice in Metro Manila retailed at from P42 to P55 per kilo, up from P38 last year, according to the DA price monitor. Local well-milled rice was being sold from P47 to P57 per kilo, compared to P40 last year. The post ‘Sacrifice,’ traders urged over rice cap appeared first on Daily Tribune......»»
‘Pulong’ remains top Davao region lawmaker
DAVAO CITY — A survey revealed on Sunday that First Congressional District Representative Paolo Duterte was among the Top Performing District Representatives in the Davao Region. According to the latest survey conducted by the RP–Mission Development Foundation Inc., the First District lawmaker garnered 84.7 percent, reflecting a notable 3.4 percent increase from 81.3 percent on the April 2023 survey. He was second to Representative Maria Carmen Zamora of Davao de Oro, with 85.2 percent compared to 80.5 percent four months ago. The RPMD surveyed all the districts in every region nationwide, gathering responses from 10,000 registered voters. The respondents were chosen randomly, with their numbers per district proportionally allocated according to official voting population data. According to the RPMD, such achievements have led both individuals to share the top spot in the Davao Region based on the nationwide assessment of the “Boses ng Bayan” initiative’s findings on the performance of public officials. Meantime, Duterte welcomed the latest survey results and thanked the general public for their endless support of him and Davao City. “I will continue promoting community services and support my district and those in need,” said the lawmaker. Underlining the significance of such assessments, Dr. Paul Martinez of the RPMD said that regular evaluations are crucial to ensuring that district representatives fulfill their roles and responsibilities effectively. The “House of Representatives Public Satisfaction” survey for the Davao Region was an integral component of the national “RPMD’s Boses ng Bayan” poll, conducted between 25 June and 5 July this year. Davao City’s Third District Representative Isidro Ungab secured the second spot with 79.4 percent, marking a rise of 1.8 percent. Claude Bautista of Davao Occidental follows closely (78.6 percent), indicating a 5.1 percent improvement, then Cheeno Miguel Almario of Davao Oriental with 74.15 percent. Meantime, Representative Pantaleon Alvarez of Davao del Norte and Davao City’s Second District Representative Vincent Garcia are tied for the fourth spot, attaining 71.7 percent. John Tracy Cagas of Davao del Sur received a rating of 68.4 percent, and Ruwel Peter Gonzaga of Davao de Oro scored 68.2 percent. Despite the 1.5 percent decrease, Nelson Dayanghirang of Davao Oriental continues to uphold an impressive performance rating of 66.7 percent. Alan Dujali, of Davao del Norte, has obtained 65.8 percent from his constituents. Despite the 1.4 percent decrease, his rating remains favorable. The post ‘Pulong’ remains top Davao region lawmaker appeared first on Daily Tribune......»»