US networks break from live Trump address due to lies
Several US TV networks late Thursday halted live coverage of Donald Trump's first public appearance since election night after concluding that the president was spreading disinformation......»»
eTravel pains
You know it’s a popular season for traveling when television news outlets are already reporting live from the Ninoy Aquino International Airport to check if there are already hordes of passengers preparing to leave town or the country during the Holy Week break......»»
Be models of excellence, integrity, inductees told
President Ferdinand Marcos Jr. called on the new officials of various government agencies to be models of excellence and integrity. In a speech during the oath-taking ceremony on Wednesday in Malacañang, Marcos said that the new officials are “leaders and trailblazers in their own professions” who have demonstrated “patriotism, excellence, and wholehearted service throughout their careers and endeavors.” “I bestow on them the challenging but rewarding responsibility that their respective positions will entail,” Marcos said. He also reminded the new officials that they have a “big break that will change the course of their future” and that their term comes with the promise of “new beginnings, new systems, new practices.” “You now have more opportunities to create improvements in your respective workplaces,” Marcos said. He also emphasized the importance of the new officials’ unwavering commitment and presence to the sectors they serve. “As appointed leaders, your unwavering commitment and even your mere presence daily are crucial to the sectors that you serve [and] to the performance of your respective mandates,” Marcos said. He also expressed his trust that the new officials will remain “models of excellence and integrity, especially to your staff, stakeholders and communities.” Marcos also pledged the administration’s support to the new officials in addressing the pressing concerns that hinder development in the sectors of their communities. “This administration will spare no effort to provide the support necessary to address the pressing concerns that hinder development in the sectors of our communities under your authority,” Marcos said. Finally, Marcos asked the families and loved ones of the new officials to give them their wholehearted support. “Public service is no easy task. Leading an office or a group with such a significant and influential role in the nation’s affairs will be difficult both for them and for you,” Marcos said. “Life in government will always be hard and challenging, but every service delivered brings purpose, it brings fulfillment,” he added. Among the officials inducted were Jennifer Pia Sibug-las, Chairperson of the National Commission on Indigenous Peoples, Vice Admiral Roy Echeverria, Commander of the Philippine Coast Guard, and Dennis Anthony Uy, who serves as the Special Envoy to the Republic of Korea for Digital Transformation. This event coincided with the oath-taking ceremony for new officers of various organizations, namely the Bureau of Jail Management and Penology, Press Photographers of the Philippines, Malacañang Press Corps Malacañang Cameramen Association and Presidential Photojournalists Association. The post Be models of excellence, integrity, inductees told appeared first on Daily Tribune......»»
PBBM trusts new officials to be ‘models of excellence and integrity’
President Ferdinand Marcos Jr. called on the new officials of various government agencies to be models of excellence and integrity. In a speech during the oath-taking ceremony on Wednesday in Malacañang, Marcos said that the new officials are "leaders and trailblazers in their own professions" who have demonstrated "patriotism, excellence, and wholehearted service throughout their careers and endeavors." "I bestow on them the challenging but rewarding responsibility that their respective positions will entail," Marcos said. He also reminded the new officials that they have a "big break that will change the course of their future" and that their term comes with the promise of "new beginnings, new systems, new practices." "You now have more opportunities to create improvements in your respective workplaces," Marcos said. He also emphasized the importance of the new officials' unwavering commitment and presence in the sectors they serve. "As appointed leaders, your unwavering commitment and even your mere presence daily are crucial to the sectors that you serve [and] to the performance of your respective mandates," Marcos said. He also expressed his trust that the new officials will remain "models of excellence and integrity, especially to your staff, stakeholders, and communities." Marcos also pledged the administration's support to the new officials in addressing the pressing concerns that hinder development in the sectors of their communities. "This administration will spare no effort to provide the support necessary to address the pressing concerns that hinder development in the sectors of our communities under your authority," Marcos said. Finally, Marcos asked the families and loved ones of the new officials to give them their wholehearted support. "Public service is no easy task. Leading an office or a group with such a significant and influential role in the nation's affairs will be difficult both for them and for you," Marcos said. "Life in government will always be hard and challenging, but every service delivered brings purpose, it brings fulfillment," he added. Officials who the President swore in included Jennifer Pia Sibug-las, Chairperson of the National Commission on Indigenous Peoples, Vice Admiral Roy Echeverria, Commander of the Philippine Coast Guard, and Dennis Anthony Uy, who serves as the Special Envoy to the Republic of Korea for Digital Transformation. This event coincided with the oath-taking ceremony for new officers of various organizations, namely the Bureau of Jail Management and Penology, Press Photographers of the Philippines, Malacañang Press Corps, Malacañang Cameramen Association, and Presidential Photojournalists Association. The post PBBM trusts new officials to be ‘models of excellence and integrity’ appeared first on Daily Tribune......»»
ERC may take legal action to compel NGCP to cooperate in performance audit
The Energy Regulatory Commission will utilize its “regulatory power” to compel the National Grid Corporation of the Philippines to submit “pertinent documents” for the ongoing comprehensive performance audit. During the Senate panel’s deliberation of the energy sector’s budget on Friday, ERC chairperson Monalisa Dimalanta said they are considering taking legal action on the matter. When asked by Senator Risa Hontiveros about the progress of ERC’s performance audit on the NGCP, Dimalanta confirmed that they have encountered delays in the performance audit, particularly in obtaining information from NGCP. “We find ourselves in the position wherein we are constrained to explore other legal remedies to make sure that the information is provided to us. DOE is studying how we can move forward,” she added. While waiting for such information, Dimalanta said the ERC has started its work by using the data it already has involving the review of the reset of power transmission rates set by the NGCP. She likewise confirmed the ERC already finished the review and the results are expected to be released by October. Hontiveros criticized NGCP for disregarding the performance audit, which was clearly stated in the DoE order. In his second State of the Nation Address, President Ferdinand Marcos Jr. urged NGCP to deliver all projects that will improve the interconnection of electricity throughout the country. This after ERC reported that 68 grid connection projects are “much delayed” including with the vital Mindanao-Visayas and the Cebu-Negros-Panay interconnections. “You don’t say that we still need to issue a subpoena on this? Perhaps the last straw that would break the camel’s back is an action from the Senate,” Hontiveros said. Dimalanta said the ERC has enough powers to make NGCP comply with the performance audit procedures. “We can use our regulatory power to compel disclosure of information,” she noted. Gatchalian stressed that a performance audit is “really necessary” as NGCP has been lagging behind in its projects’ timeline. “Transmission projects are very delayed, and it affects all of us. We are very interested in their performance and to know if they are complying with what they should be complying with. They already collected from the consumers for these projects but many of them are delayed or haven’t started yet,” he added. The post ERC may take legal action to compel NGCP to cooperate in performance audit appeared first on Daily Tribune......»»
‘Defeated’ Armenians turn ire on leader
Armenia’s government faces new woes after losing Nagorno-Karabakh to Azerbaijan forces as citizens vented their ire on their leader. Anti-government demonstration erupted in Yerevan and the protest on the mishandling of the Nagorno-Karabakh crisis continued Friday. Opposition parties are taking part in the rallies, accusing Prime Minister Nikol Pashinyan of too many concessions to Baku and demanding his resignation. Protesters were blocking streets across the Armenian capital to prevent Pashinyan’s cabinet meeting as opposition leaders announced plans to impeach him in parliament. On Wednesday and Thursday, dozens of protesters were detained outside Pashinyan’s offices for throwing bottles and stones, and attempting to break into the building. Opposition politician Andranik Tevanyan was among those detained. Riot police have used stun grenades against the demonstrators. Pashinyan appealed for calm in a televised address. On Tuesday, Azerbaijan launched a military operation to retake the Armenian-populated enclave of Nagorno-Karabakh which had been under Armenian separatists’ control since the 1990s war between the Caucasus arch foes. Armenian separatists agreed to lay down their arms on Wednesday as part of a Russian-brokered ceasefire plan that halted Azerbaijan’s 24-hour offensive to retake land at the center of decades of conflict. A ceasefire was agreed upon by the two sides with Russian peacekeepers as monitors, while Azerbaijan and the separatists held their first direct peace talks Thursday. WITH AFP The post ‘Defeated’ Armenians turn ire on leader appeared first on Daily Tribune......»»
Can’t get it up?
GoRocky, a pioneering men’s health startup, is proud to announce the successful completion of its pre-seed funding campaign. This funding marks a significant milestone for GoRocky, reinforcing its commitment to revolutionizing men’s health in the Philippines. The round was led by key investors including reputable investors and tech leaders from Germany and the Philippines, Buko Ventures, IdeaSpace Investments, Pulse 63, and Kaya Founders. GoRocky is on a mission to address stigmatized chronic conditions like erectile dysfunction by offering discreet, affordable, and accessible health treatments. The company’s innovative approach combines online assessments, doctor prescriptions, and medicine deliveries to empower men to take control of their health. Patients can simply fill out an anonymous four-minute questionnaire, and a licensed doctor reviews their responses before prescribing the necessary medication, which is then discreetly delivered to their doorstep at an affordable price. The Philippines is home to a staggering number of men silently suffering from various stigmatized health conditions. Approximately 14 million men in the country experience erectile dysfunction, 16 million grapple with hair loss, and another 15 million struggle with skincare issues. Due to the pervasive stigma surrounding these conditions, most men opt to suffer in silence rather than seeking treatment. GoRocky aims to change this narrative by creating a culture shift in how men approach their health. “Many men suffer in silence from stigmatized conditions. They often avoid the issue, do not talk to their closest ones and would not dare to talk to a doctor in person. We try to help men cross that bridge. GoRocky’s mission is to break the silence surrounding men’s health issues and make discreet, effective treatments readily accessible to all,” said Kiyanusch Braun, CEO and co-founder of GoRocky. The post Can’t get it up? appeared first on Daily Tribune......»»
Empowering Filipinos with inclusive next-generation technology
Over the past decade, the telecom industry has disrupted our lives more than the century that preceded them. The advancement in telecom technology has transformed all industries, with economic fundamentals shifting to adapt to the mobility and digitally connected lifestyle. Indeed there is no limit to what can be connected, the size of the connection, or even the services provided in the connected world. There is no limit to what the connected experience demands. "While we embrace the power of technology, we also recognize the significance of making these advancements accessible to all. Inclusivity is the driving force behind our innovation as we strive to empower individuals and communities with our transformative mobile and broadband solutions," said Evelyn Jimenez, DITO Telecommunity chief commercial officer, at the launch of their latest products DITO Mobile Postpaid FLEXPlans and DITO Home UNLI 5G WIFI. She said the rollout aims to empower all Filipinos and telecommunities by giving them access to affordable high-speed 5G connectivity. DITO is also making its presence felt after OpenSignal, an independent mobile analytics company, awarded DITO multiple noteworthy awards in their latest report: Upload Speed Experience, Availability, Excellent Consistent Quality, and Core Consistent Quality. DITO even dislodged Smart Communications from the top spot in the Excellent Consistent Quality category after scoring a record-breaking 58.8 percent versus Smart's 56.7 percent. Moreover, on Core Consistent Quality, DITO soared to a 79.9 percent rating, knocking-off Globe Telecom, from the top spot, only registered 77.7 percent. Incidentally, DITO's Upload Speed has also risen remarkably, with a score of 5.2Mbps. At the same time, the Availability Award they received recognized DITO for providing a robust and reliable network connection in places where people commonly go, allowing users to access DITO's network and stay connected easily. All these accolades in just their 2nd year of operations are a breakthrough achievement for the people's fave new telco, DITO Telecommunity. Postpaid plan for everyone DITO Mobile Postpaid FLEXPlans, the telco provider's newest mobile service, gives every Filipino a chance to upgrade to postpaid. Customers can choose from affordable and flexible SIM-Only Plans (with a locked-in period of 6 months) or Handset Plans (with a locked-in period of 24 months). For as low as P588 a month, Filipino customers can enjoy the benefits of DITO Mobile Postpaid, such as generous data allocation, data rollover, UNLI all-net calls and texts, premium handset offerings, and a bonus Prime Video subscription for 12 months. For Handset Plans, DITO partnered with Samsung for premium yet affordable phones that customers can choose from. Samsung Galaxy A02 is accessible for all plans, Samsung Galaxy A04 is free for FLEXPlan 888, while Samsung Galaxy A14 5G is free for FLEXPlan 1288. Samsung Galaxy S23 is also available with a corresponding cash-out requisite which can be viewed via this link dito.Ph/postpaid/handsets. Other Samsung handsets will also be available soon. DITO Postpaid plan customers are entitled to other FLEXible mobile service features such as Advance Pay, Mobile Number Portability, and Choose Your Number. Advance Pay allows SIM-Only Plan subscribers to make advance payments for their monthly subscription fees with a discount of up to 40 percent. It would also be good to note that customers can easily use Mobile Number Portability to carry over and keep their favorite Prepaid or Postpaid number as they switch to DITO Postpaid. They may also choose their number or purchase a vanity number for their new DITO postpaid plan. Customers using these features must apply for their DITO Mobile Postpaid FLEXPlans via DITO Experience Stores only for proper handling and servicing. To ensure the convenience of customers, DITO assures a fast and straightforward application process for their postpaid plans. Interested customers may apply for a DITO Mobile Postpaid FLEXPlan through the DITO APP, DITO Experience Stores, and Device Retail Partner Stores nationwide (Rulls, MemoExpress, EC Panda). They need to bring the following: Proof of Identification (at least one valid government ID), Proof of Financial Capacity (For example Certificate of Employment, Credit Card Bill Statement, and the like), Proof of Billing that reflects the Customer's Address, and a selfie (for applications made via the DITO APP). "DITO wants all Filipinos to have equal opportunities to reach their digital aspirations. By introducing our DITO Mobile postpaid offerings, we want to break the notion that postpaid plans are too expensive and reserved for a select few. At DITO, we're proud to say that there's a postpaid plan for everyone," affirmed Jasper Evangelista, DITO director for Brand and Marketing. The post Empowering Filipinos with inclusive next-generation technology appeared first on Daily Tribune......»»
Former Magdalo leader challenges Lray Villafuerte
Former Magdalo leader and San Fernando, Camarines Sur Mayor Fermin Mabulo, challenged 2nd District Rep. LRay Villafuerte to a gubernatorial face-off and called for an end to their 40-Year reign. The former Magdalo leader on Monday announced his commitment to challenge the Villafuerte dynasty. In a press conference in Quezon City, Mabulo boldly called for a new brand of leadership that prioritizes inclusive and sustainable development for all, while issuing a direct challenge to Camarines Sur Representative LRay Villafuerte for a face-off in the next gubernatorial elections. He said he is forced to come out in the open following the escalating number of fake news and rumors, he alleges, are spread by the Villafuerte camp against him and his family. He expressed frustration with these baseless attacks, hinting at the political motives behind them. "Madami pong lumalabas na mga fake news laban sa akin at sa aming pamilya. Mga paninira na sa una ay hindi namin pinapansin dahil pawang kasinungalingan lang. Subalit ito ay palala ng palala at sponsored pa," Mabulo revealed, underscoring the need to address the smear campaign that has plagued him and his family. Despite previously serving as the provincial administrator during Villafuerte's term as governor, Mayor Mabulo recounted that Rep. Villafuerte initiated attacks against him on social media platforms. Earlier this year, Rep. Villafuerte even challenged Mayor Mabulo to a boxing match. “May nag-text nga sa akin at nanghahamon pa ng suntukan, nag-post din sa Facebook. Sasagutin na kita, Congressman Villafuerte, tinatanggap ko ang iyong hamon. Boxing? Let’s go! Sa isang kundisyon: gawin natin ito sa Jessie Robredo Coliseum sa Naga City bilang fundraising event para sa kapakanan ng ating mga provincial scholars na tinanggal mo dahil hindi bumoto sa mga anak mo ang magulang at pamilya nila," declared Mayor Mabulo. Undeterred by the 40-year Villafuerte leadership in Camarines Sur, Mayor Mabulo voiced his commitment to break away from stagnation and bring about genuine progress and development in the province. "Nakalipas ang apat na pung taon sa position, mailap parin ang pangarap na kapayapaan at kaginhawan na pinapangarap ng bawat magsasaka, mangingisda, at mga ordinaryong mamamayan sa aming probinsiya," he asserted, emphasizing the pressing need for transformative leadership. Mayor Mabulo expressed, "I am offering myself to my beloved province mates in Camarines Sur. Enough is enough! It is time for a new brand of leadership, leadership with heart and skills." This echoes the principles of the late Secretary Jesse Robredo. Citing the Philippine Statistics Authority, Mayor Mabulo highlighted the pressing socio-economic challenges faced by Camarines Sur. The province reported a high poverty incidence of 29.8 percent, reflecting the hardships endured by a significant portion of the population. Additionally, the subsistence incidence among families stands at 10.5 percent, indicating the struggle to meet basic food requirements. The Department of Social Welfare and Development's Listahanan 3 database identified around 184,667 poor households, equivalent to 1,078,719 indigents, in Camarines Sur. These figures underscore the need for targeted poverty reduction programs to uplift the most vulnerable communities. Furthermore, the province's Human Development Index (HDI) witnessed a decline during the term of Governor LRay Villafuerte, despite increased tourism and economic activity, indicating the urgency for inclusive and sustainable development efforts that benefit all residents. Drawing a parallel with the biblical narrative of the Exodus, Mayor Mabulo said, "Life begins at 40. After 40 years of suffering in the wilderness, God brought the Israelites to the promised land, a land flowing with milk and honey. I call on my province mates in Camarines Sur - tapusin na po natin ang apat na pong taon na paghihirap sa Camarines Sur. Panahon para sa pagbabago." The upcoming gubernatorial elections will see how much of a hold the Villafuertes still have over the province. The post Former Magdalo leader challenges Lray Villafuerte appeared first on Daily Tribune......»»
House to prioritize LEDAC-approved bills
The House of Representatives reconvened for the second regular session of the 19th Congress on Monday after a nearly two-month break. Speaker Martin Romualdez, leading the plenary, assured the Executive department that the legislature would prioritize the bills approved by the Legislative-Executive Development Advisory Council or LEDAC during its second meeting. LEDAC-endorsed bills are in line with the Marcos government’s Agenda for Prosperity or socio-economic policy. “We face the remaining bills in the LEDAC priority list with enthusiasm and optimism, steadfast in our determination to transform these initiatives into concrete laws for the benefit of our fellow Filipinos,” Romualdez told his peers during his speech hours before the President delivered his second State of the Nation Address. Three hundred eleven congressmen responded in the roll call during the opening of the session. Negros Oriental Rep. Arnie Teves was not around due to his suspension. “Our unwavering aim is to realize them before the year ends. We stay committed to spurring economic growth, alleviating poverty, augmenting healthcare services, and fostering job opportunities for our fellow countrymen,” he continued. The House leader, cousin of the President, is referring to 20 LEDAC bills, namely, amendments to the BOT Law or Public-Private Partnership bill; National Disease Prevention Management Authority; Internet Transactions Act or E-Commerce Law; Health Emergency Auxiliary Reinforcement Team Act, formerly Medical Reserve Corps; Virology Institute of the Philippines; Mandatory ROTC and National Service Training Program; Revitalizing the Salt Industry; Valuation Reform; and E-Government and E-Governance. Completing the LEDAC list are the Ease of Paying Taxes Equally; National Government Rightsizing Program; Unified System of Separation/Retirement and Pension of Military and Other Uniformed Personnel; LGU Income: Classification; Waste-to-Energy Bill; New Philippine Passport Act; Magna Carta of Filipino Seafarers; National Employment Action Plan; Amendments to the Anti-Agricultural Smuggling Act; Bangko Sentral ng Pilipinas-endorsed Bank Deposit Secrecy; and Anti-Financial Account Scamming Act. Aside from the LEDAC, the House said it would keep its eyes on how the newly enacted New Agrarian Emancipation Act (RA 11953), inked by the President last 7 July, is being implemented. “It is equally imperative to address the issues confronting our agricultural sector in the soonest possible time. We will redouble our efforts to stop the smuggling of rice, sugar, and onions, which harms our farmers’ competitiveness and disrupts the agricultural value chain,” said Romualdez, among the principal authors of RA 11953. “We shall safeguard our farmers’ interests, ensure equitable market conditions, and foster sustainable farming methods to ensure our nation’s food security.” The law wrote off "all principal loans, unpaid amortization, and interest" of 610,054 agrarian reform beneficiaries totaling P57 billion from the time of the President's late father, Ferdinand E. Marcos Sr. The post House to prioritize LEDAC-approved bills appeared first on Daily Tribune......»»
Senate opens second regular session
The Senate of the Philippines on Monday formally opened the second regular session of the 19th Congress, after nearly two months of break. Senate President Juan Miguel “Migz” Zubiri led the chamber into convening with the House of Representatives to witness the second State of the Nation Address of President Ferdinand Marcos Jr. at 4 P.M. at the Batasang Pambansa in Quezon City. Senator Pia Cayetano is the only one absent from the 24-member chamber. Her office later explained that they sent an official letter to the Senate leadership stating she is heading the delegation of the Philippine Women's National Football Team in its maiden participation at the FIFA Women's World Cup, ongoing in New Zealand and Australia. In his opening address, Zubiri welcomed the Senate’s guests, which were composed of their families and other government officials. Among the notable guests in the Senate were Tourism Secretary Christina Frasco and Foreign Affairs Secretary Enrique Manalo. Former Senate President Franklin Drilon and Francisco “Kit” Tatad were also in attendance. “To all of us here, let me make this clear: We are not resuming work because, in the first place, we never took a break from it,” Zubiri said. “Rather we are revving up work because much remains to be done,” he added. Before adjourning sine die last May, the upper chamber approved its own version of the controversial Maharlika Investment Fund bill, which was recently signed by the President into law. Its principal author, Senator Mark Villar, said that he is expecting that the president would mention the newly enacted law in his SONA later in the afternoon. The post Senate opens second regular session appeared first on Daily Tribune......»»
Addressing poverty, hunger toward inclusive econ recovery
As President Ferdinand “Bongbong” Marcos prepares to deliver his second State of the Nation Address today, I remain hopeful that this can be an opportunity to highlight concrete steps towards a path of full and inclusive economic recovery. I am optimistic that this platform where all branches of government come together to listen to the priorities of the President can strengthen our unity and commitment to uphold the administration’s eight-point Philippine Development Plan 2023-2028, which includes food security, supply chain management, energy costs, healthcare and social protection, infrastructure development, green economy, market competition, and entrepreneurship. As I always say, “Dapat po ay walang maiwan na Pilipino lalo na po ang mga mahihirap nating kababayan. Dapat po walang magutom. Importante po ang laman ng tiyan at trabaho po para sa bawat Pilipino (No Filipino should be left behind, especially our poor countrymen. No one should go hungry. Food and work are important for every Filipino).” Amidst the recent lifting of the State of Public Health Emergency due to the Covid-19 pandemic, ensuring food security for all Filipinos must remain a top priority of the Marcos Administration. It is in this light that I fully support President Ferdinand Marcos, Jr.’s “Walang Gutom 2027: Food Stamp Program”, which was recently launched in Tondo, Manila. As one of the priority programs of the Department of Social Welfare and Development, the FSP seeks to reduce involuntary hunger incidents among low-income households. We also respect the decision of President Marcos, Jr. in lifting the State of Public Health Emergency in our country. We trust that it was arrived at after careful consideration of the present health issue and the need to finally open up the economy. With or without the State of Public Health Emergency, the government should fulfill its obligations to protect the lives of Filipinos, safeguard their health, and give what is due to them, especially to our medical frontliners. As a legislator, I have authored and supported bills that aim to address the most urgent issues faced by our fellow Filipinos today. I have also spearheaded the enactment of several legislations that aim to bring healthcare services closer to those in need, especially at the grassroots. As we all know, health is wealth and must be prioritized to attain a productive citizenry. Among these is the Malasakit Centers Act which I principally authored and sponsored in the Senate and was enacted into law in 2019. These centers bring various government agencies under one roof to provide convenient access for indigent patients needing medical assistance. So far, 158 Malasakit Centers are operational nationwide and have helped more than seven million Filipinos, according to the Department of Health. I have recently successfully sponsored the Regional Specialty Centers bill, which I am also a co-author, now awaiting the signature of the President. The bill aims to make available specialized medical facilities in various regions nationwide, benefitting particularly poor and impoverished Filipinos. For example, under the bill, services provided by the Philippine Heart Center, currently located in Quezon City, will also be available in regional DOH hospitals. The enactment of the measure will also include services for a broad range of specialties, including lung care, orthopedics, neonatal care, renal care, cancer care, and mental health, among others, making it a multi-year comprehensive nationwide healthcare improvement plan. Aside from these, we have also continuously supported the establishment of Super Health Centers in strategic locations around the country as a way to provide better access to basic medical services, especially at the grassroots. Through the collective efforts of DOH and fellow lawmakers, sufficient funds had been allocated for 307 Super Health Centers in 2022 and 322 in 2023. DOH, the lead implementing agency, identifies the strategic areas where they will be constructed. Meanwhile, driven by my passion for public service, I continue to respond to the needs of our fellow citizens, particularly the poor, wherever they may be in the country in my capacity as a senator and public servant. On 18 July, we were in Bulacan to attend the ribbon-cutting ceremony of the San Miguel Super Health Center. Alongside Congresswoman Lorna Silverio, Board Member Raul Marian, and Mayor Roderick Tiongson, we also provided aid to 1,000 impoverished individuals in the town. We then visited the town of Bustos to distribute assistance to 1,000 indigents, in collaboration with Mayor Iskul Juan’s office. I am delighted to announce that on 20 July, we held and witnessed the topping-off ceremony of the New Senate Building in Fort Bonifacio, Taguig City. This was presided over by Senate President Juan Miguel Zubiri, fellow senators, and other officials. This will be the new home of the Senate once completed. My office continues to deliver aid this week to our fellow citizens facing various crises. We promptly responded to the needs of victims of separate fire incidents. In Brgy. Kasangyangan, Zamboanga City, we helped 419 victims; in Baganga, Davao Oriental, we assisted 299 victims; and in Maco and Laak, Davao de Oro, we aided three victims. We conducted a series of aid distributions in Batangas, bringing smiles to 300 residents of Batangas City in partnership with Board Members Lydia Lopez, Maria Louise Gamo Vale, and Jesus de Veyra; 100 in San Juan in partnership with BM Melvin Vidal; 100 in Lipa City in partnership with BM Aries Mendoza; and 100 in Rosario in partnership with BM Jonas Patrick Gozos. We did not neglect the people of Nueva Ecija, where I am considered an adopted son of the province, and managed to spread joy to 364 beneficiaries from Llanera in coordination with their municipal council, and 166 from the Science City of Muñoz, in collaboration with Mayor Baby Alvarez’s office. We also reached San Fernando City, Pampanga, where we were able to assist 16 indigents alongside Mayor Vilma Caluag. In Quezon City, together with Councilor Aiko Melendez, we were able to assist 163 displaced workers. We also supported 100 individuals in Biñan City, Laguna, in collaboration with Councilor Alvin Garcia. Millions of Filipinos require the support and protection of the government. As a legislator, I can only do so much. However, if each of us does our part, then we can be a powerful force that could help our fellow Filipinos break free from the cycle of poverty and hunger. The post Addressing poverty, hunger toward inclusive econ recovery appeared first on Daily Tribune......»»
DepEd eyes NLC rollout
The Department of Education is set to roll out the National Learning Camp during this school year’s end-of-year break to address learning loss among students and it will run for three to five weeks — from 24 July to 25 August 2023. The NLC is a voluntary program that will start its phased implementation with Grades 7 and 8 focusing on English, Science and Mathematics. Schools may also conduct other end-of-school year break activities such as Reading and Mathematics Program for Grades 1 to 3 and enrichment activities in other grade levels alongside the phased implementation of the learning camp to support learning recovery across grade levels. Based on the specific needs of the learners, they shall be enrolled in one of three camps — Enhancement Camp, Consolidation Camp or Intervention Camp. The NLC aims to create a camp-like atmosphere by integrating fun and engaging activities to foster learner interests, socio-emotional skills, personal growth and character development. Meantime, the DepEd clarified that the participation of teachers in the learning camp is voluntary and since the NLC entails the services of teachers beyond regular school days, they shall be provided with vacation service credits, certificate of recognition for teachers, and other incentives, subject to the availability of funds and guidelines set. The post DepEd eyes NLC rollout appeared first on Daily Tribune......»»
Bong Go lauds PBBM’s first year accomplishments
Sen. Bong Go expressed his support for the leadership of President Ferdinand "Bongbong" Marcos, Jr. given the administration’s performance during its first year in office. “So far, so good naman po. Ang importante dito ay maipagpapatuloy ang magagandang programa na naumpisahan po ni dating pangulong Duterte at ilapit po natin ang serbisyo ng gobyerno sa ating mga kababayan, lalo na yung pangkalusugan,” Go said in an interview after his team distributed assistance to the residents of Hagonoy in Davao del Sur on Saturday, 1 July. Go then stressed that the Marcos administration must continue to strengthen efforts to uplift the lives of poor Filipinos, as outlined in the Philippine Development Plan 2023-2028, which is considered to be the country’s roadmap towards full and inclusive economic transformation. “Ilapit po natin sa mga kababayan natin lalong-lalo na po mga mahihirap. Marami pong mga kababayan natin ang mahihirap, sila po ang nangangailangan ng gobyerno. 'Yung mga helpless, hopeless nating mga kababayan. Tulungan po natin sila,” he said. "Basta uunahin ko parati ang makakatulong sa mahihirap, uunahin ko parati ang interes ng bayan, interes ng mga kababayan nating mahihirap,” he stressed further. Go then recognized the significance of building upon the strong foundations laid by former president Rodrigo Duterte especially in ensuring the accessibility of medical services for all Filipinos and in providing them a safer and more comfortable life. “Sana ay ipagpatuloy ng kasalukuyang administrasyon ang mga magagandang nasimulan nito sa kanilang unang taon at pati na rin yung mga magagandang programa ng nakaraang administrasyon ni dating pangulong Rodrigo Duterte. Sana ay madagdagan pa ang mga ito, lalo na yung mga proyekto at programang nakakatulong talaga sa mga mahihirap nating kababayan,” he said. He then reiterated his commitment to supporting the Marcos administration's legislative priorities, with a particular focus on strengthening the healthcare system. “In fact, as Chair of the Senate Committee on Health, we have recently passed one of his priority measures, the Regional Specialty Centers Bill, which I principally sponsored and is one of the authors in the Senate,” he said, citing Senate Bill No. 2212, otherwise known as the Regional Specialty Centers Act, which was passed before the session break and is now awaiting the approval of the President before it can be enacted into law. The establishment of specialty centers is among the health-related legislative agenda contained in the PDP 2023 to 2028. Go said that being part of a majority bloc in the Senate, he is committed to actively contribute to the enactment of legislative measures that benefit the marginalized sectors of society. “I will continue to support efforts to address the needs of the poor, the hopeless and the helpless sectors of our society by reducing poverty and improving social protection, ensuring food security, and providing safe and resilient communities for our people,” he said. “Rest assured, we will continue working with the current administration in bringing crucial government health services closer to the people,” he added. The post Bong Go lauds PBBM’s first year accomplishments appeared first on Daily Tribune......»»
Bong Go lauds Super Health Center groundbreaking in Zamboanga City
Senator Christopher “Bong” Go, Chair of the Senate Committee on Health and Demography, emphasized the significance of investing in health infrastructure, particularly the establishment of Super Health Centers nationwide to bring basic medical services from the government closer to communities. In his video message during the groundbreaking ceremony of Zamboanga City Super Health Center in Barangay Manicahan on Friday, June 30, Senator Go highlighted the need for a comprehensive approach that focuses on bolstering the nation's healthcare system. Through such efforts, the country can better address healthcare challenges and ensure the well-being of its citizens, especially at the grassroots. “The more we should invest sa ating health care. The more na laanan natin ng pondo dahil hindi po natin alam kung ito na ba ang pinakahuling pandemya na darating sa ating buhay. Huwag na po sanang dumating. Sana po’y bumalik na tayo sa normal nating pamumuhay,” Go cited. Senator Go pointed out that Super Health Centers serve as hubs for basic healthcare delivery, providing a wide range of medical services to communities. Super Health Centers offer database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray, ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service; oncology centers; physical therapy and rehabilitation center; and telemedicine, where remote diagnosis and treatment of patients will be done. Through the collective efforts of fellow lawmakers, sufficient funds had were allocated under the Health Facilities Enhancement Program of the Department of Health for 307 Super Health Centers in 2022 and 322 in 2023. The senator emphasized that these Super Health Centers would cater to the needs of underserved areas, especially those lacking adequate healthcare infrastructure. By ensuring that every citizen has access to quality healthcare services, regardless of their location or socioeconomic status, the government can take significant strides towards achieving universal healthcare coverage, Go expressed. “Ngayon tatayuan na kayo ng inyong Super Health Center. Pwede diyan ang dental, laboratory, x-ray, at birthing, panganganak. Ang mga buntis pwede nang manganak diyan. Iyan ang Super Health Center,” the senator said. “Iyan ang pamamaraan na ilapit natin ang serbisyo medikal sa ating mga kababayan. Iyan ang Super Health Center,” he highlighted. In line with his priority of protecting the well-being of Filipinos, Go then offered to help any resident who may need medical attention. He encouraged them to visit the Malasakit Centers at the Zamboanga City Medical Center, Mindanao Central Sanitarium, and Labuan General Hospital. The Malasakit Centers program has successfully established 158 centers so far and helped more than seven million Filipinos nationwide. It brings together relevant agencies, including DOH, Department of Social Welfare and Development, Philippine Health Insurance Corporation, and Philippine Charity Sweepstakes Office, to help reduce a patient’s hospital expenses to the lowest possible amount. He also continues to take significant steps in his commitment to improving healthcare accessibility for Filipinos by principally sponsoring Senate Bill No. 2212, otherwise known as the Regional Specialty Centers Act. The bill was passed before the session break and is now awaiting the approval of President Ferdinand Marcos Jr. If the measure is enacted, in Mindanao, specialty centers will be established at Zamboanga City Medical Center, Northern Mindanao Medical Center in Cagayan de Oro City, Mayor Hilarion A. Ramiro Sr. Medical Center in Ozamis City, Southern Philippines Medical Center in Davao City, Davao Regional Medical Center in Tagum City, Cotabato Regional and Medical Center in Cotabato City, Caraga Regional Hospital Surigao City, Adela Serra Ty Memorial Medical Center in Tandag City, and Amai Pakpak Medical Center in Marawi City. The post Bong Go lauds Super Health Center groundbreaking in Zamboanga City appeared first on Daily Tribune......»»
KaladKaren’s historic feat: First transwoman anchor in local TV news
ABS-CBN takes pride in being the manager of transwoman star KaladKaren, who has been making waves in the TV industry. She is now the first transwoman news anchor in the Philippines, as co-host of TV 5’s Frontline Pilipinas evening newscast. She joined Gretchen Ho, Jes delos Santos, Justin Quirino and Mikee Reyes as news presenters on 12 June. There are gays and transwomen who are hosts of talk shows and variety shows on TV, such as Boy Abunda, Vice Ganda and Allan K, but KaladKaren is really the first to read out showbiz, lifestyle and cultural reports on a straight news program. In April, she emerged as the first transwoman to win best supporting actress at the Metro Manila Film Festival, specifically at the first-ever summer edition of the festival. She won for her hilarious turn in the film Here Comes the Groom. As an anchorwoman, she is billed as KaladKaren, a made-up name close to the Tagalog word “kaladkarin,” which refers to someone who is easy to drag along for any decent or indecent occasion. She started using “KaladKaren” as a performer in UP Mass Communication productions on campus. Her real name is Jervi Li. [caption id="attachment_151722" align="aligncenter" width="446"] PHOTOGRAPH COURTESY OF IG/KALaDKAREN | JERVI Li aka KaladKaren.[/caption] At her contract-signing recently at ABS-CBN, the celebrity impersonator was asked by a tabloid editor how exactly her name should be spelled and pronounced. The graduate of the University of the Philippines-Diliman stressed that her professional showbiz name should be spelled as one word, with the second “K” capitalized and the last syllable spelled with an “e”, not “i”, to emphasize “Karen,” the first name of the woman she famously impersonates: ABS-CBN broadcast journo Karen Davila. Corporate and news executives of TV 5 obviously find the pedestrian name “KaladKaren” good enough for a news presenter. On camera, her colleagues address her simply as “Karen.” KaladKaren is directly managed by Star Magic, the division for talent recruitment and development headed by Laurenti Dyogi, who is also ABS-CBN head of Television. Dyogi was present at the contract signing along with other Star Magic executives. KaladKaren said she will also be part of an upcoming series, a reality show and a movie. The country is actually late in giving transwomen a shot at news anchoring. The US and other countries have been doing so as far back as 2015. In February 2015, reporter and former TV news helicopter pilot Zoey Tur joined US television program Inside Edition as a special correspondent, becoming America’s first transgender TV reporter. Tur, formerly known as “Chopper Bob,” rose to fame for the live helicopter coverage of the 1994 police chase on Los Angeles freeways of fugitive American football star O.J. Simpson, who was charged with the murder of his ex-wife and her friend. In March 2018, Marvia Malik became Pakistan’s first transgender news presenter at Kohenoor TV. In an interview with Deutsche Welle, Malik said she had to work hard to break taboos and finally be accepted by a society that discriminates against transgender people. In February this year, Malik survived a gun attack outside her residence in Lahore. According to NDTV, Malik was returning from a pharmacy when two gunmen opened fire on her. Bangladeshi activist Tashnuva Anan likewise broke barriers by becoming the first transgender news anchor in her home country in 2021. Anan moved to New York from Bangladesh about a year and a half ago to pursue her acting career. She made her off-Broadway debut in Public Obscenities at SoHo Rep in May 2023. India Willoughby is the first transgender TV news reporter in the United Kingdom. In 2017, she joined 5News on Channel 5, where she read the lunchtime and evening updates. She was a familiar face to millions of viewers in her former life as Jonathon, a contestant in Celebrity Big Brother. Nora Reichardt, who has worked at Local News 5 in Des Moines since July 2021, said she gradually came into her identity as a transgender woman over the course of several years and began a medical transition process. And Diana Zurco, 40, recalled her youthful rebellion ahead of her debut as the country’s first transgender newscaster in Argentina’s public TV station, a milestone for an excluded community that is often the target of violence and has a life expectancy roughly half that of the rest of the population. The post KaladKaren’s historic feat: First transwoman anchor in local TV news appeared first on Daily Tribune......»»
Preparedness is key
It happens year in and year out every time disaster strikes. Whether it be typhoons, earthquakes, or volcanic eruptions, we see the same scene all over again — residents, apprehension written all over their faces, and overcrowding evacuation centers. In the case of the impending eruption of Mayon Volcano in Bicol, it is bad enough that they have to contend with the force of nature, but worse, they have to deal with the inadequacies of living in temporary shelters, most likely elementary schools, ill-equipped with the proper provisions. They have to make do with makeshift beds and blankets, even as a majority of families, children, and the elderly lie on the floor, their faces reflecting exhaustion and anxiety. The air is thick with a mix of sweat and uncertainty. People are trying to find a comfortable spot amidst the overcrowded conditions, but space is limited, and tensions more often than not are rising. Television footage has detailed the agony of staying there. There was this mother cradling her crying infant, trying to soothe the baby amid the chaos. She looks around, searching for a quiet corner or a clean space to nurse her child, but every nook and cranny is occupied. Frustration fills her eyes as she realizes there is no privacy or comfort for her and her baby in the crowded environment. A group of volunteers, wearing brightly colored vests, move through the crowded evacuation center, offering water, food, and blankets to those in need. However, they struggle to reach everyone due to the sheer number of people seeking assistance. The sound of coughing and sneezing fills the air as a young boy, visibly unwell, sits with his family. They are surrounded by other families nearby, making it easy for illnesses to spread. A sense of frustration and desperation pervades the atmosphere as tempers flare among tired and stressed evacuees. Arguments break out over limited resources, personal space, and the lack of information about when they can return home. Such is the distressing situation of residents in evacuation centers that others opt to defy logic and the authorities and prefer to remain on their properties inside the danger zones for fear of their carabaos being stolen or their houses ransacked by those who would take advantage. These scenes depict the challenging realities of overcrowded evacuation centers in the Philippines, highlighting the lack of space, privacy, and basic amenities, and the strain it places on evacuees and relief efforts. They serve as a reminder of the urgent need for effective solutions to address this perennial problem and provide safer and more dignified conditions for those seeking shelter during times of crisis. As a country highly vulnerable to natural disasters, it would be worthwhile for the government to explore potential solutions and find a sustainable approach that can help address this recurring issue effectively. One key element in addressing overcrowded evacuation centers, according to experts, is improving early warning systems. By investing in modern technology and infrastructure, such as weather monitoring systems, early warning sirens, and effective communication networks, the government can provide timely and accurate information to vulnerable communities. This would enable residents to prepare and evacuate in a more organized manner, reducing the strain on evacuation centers. Addressing the problem of overcrowded evacuation centers requires collaboration among various stakeholders. The government, civil society organizations, the private sector, and international partners should work together to coordinate efforts, share resources, and pool expertise. Establishing clear protocols and mechanisms for resource mobilization and coordination can enhance the efficiency of response and ensure a more equitable distribution of support. The issue of overcrowded evacuation centers in the Philippines during times of natural disasters is a complex challenge that demands a multi-faceted and sustainable approach. It would do well for government to rethink its disaster response mechanisms knowing that the next tragedy can occur in the blink of an eye. e-mail: mannyangeles27@gmail.com The post Preparedness is key appeared first on Daily Tribune......»»
Harnessing technology for a just society
As a proud Filipino who believes in the power of justice, Independence Day is a time to reflect on the values that define our nation. In our pursuit of a fair and equitable society, it is essential to explore innovative solutions that can address the challenges within our justice system. One such solution lies in the transformative potential of technology. On this auspicious occasion, let us envision a future where technology catalyzes justice, empowering our nation and ensuring equal access to legal services for all. Technology has the remarkable ability to break down barriers and bridge gaps, making it a powerful tool for achieving justice for all Filipinos. In a country with diverse geographical landscapes and varying socioeconomic conditions, digital advancements can play a pivotal role in providing accessible legal services. Through the use of digital platforms, we can enhance access to legal information, simplifying complex processes and empowering individuals to navigate the legal system with ease. Online resources, such as legal databases and interactive guides, can educate citizens about their rights and responsibilities. Furthermore, virtual legal clinics and teleconferencing facilities can enable remote consultations, ensuring that legal advice reaches even the most remote corners of our nation. The adoption of technology can also streamline court proceedings, addressing issues such as backlogs and delays. Electronic filing systems can expedite the processing of cases, reducing paperwork and administrative burdens. Additionally, digital courtrooms equipped with audio-visual technology can facilitate remote hearings, saving time and resources for both the courts and litigants. Furthermore, technology can aid in the efficient management of case records and data, enabling judges and lawyers to access relevant information swiftly. Advanced data analytics can help identify patterns, prioritize cases, and enhance decision-making, ultimately leading to a more efficient and effective justice system. Technology has the potential to foster transparency and accountability within our justice system. Online platforms for case tracking and updates can provide real-time information to litigants and the public, promoting transparency and trust in the judicial process. Furthermore, digital platforms can facilitate the collection and analysis of data on court outcomes, enabling policymakers to identify trends, assess the performance of the justice system, and make evidence-based reforms. Moreover, the use of blockchain technology can enhance the security and integrity of legal documents and transactions, safeguarding against tampering or manipulation. This ensures the preservation of accurate records and strengthens the trust between the justice system and citizens. As we commemorate Independence Day, let us embrace the potential of technology as a catalyst for justice in the Philippines. By harnessing digital advancements, we can create a justice system that is more accessible, efficient, and transparent. Technology can bridge gaps, empower individuals, and revolutionize court processes, ultimately ensuring equal access to justice for all Filipinos. However, while technology offers immense possibilities, its implementation must be accompanied by adequate infrastructure, digital literacy programs, and data protection measures. Collaboration between government institutions, legal professionals, and technology experts is essential to navigate the challenges and leverage the full potential of technology for a just society. On this momentous occasion, let us envision a future where technology and justice intersect, allowing our nation to take bold strides toward a fair, equitable, and digitally empowered Philippines. The post Harnessing technology for a just society appeared first on Daily Tribune......»»
Bong Go wants proposal to revert to the old school calendar studied carefully
Sen. Bong Go said he leaves it up to the expertise of concerned officials especially Department of Education to decide on the proposed reversion to the old academic calendar. In an ambush interview after his visit to Ibaan, Batangas on Friday, 2 June, Go remarked, “We will leave that to our education officials. Alam kong pinag-aaralan na po nila ito. They will form a group to study the proposal to return to the old academic calendar where school breaks run from April to May. Mas alam po nila ang kanilang trabaho sa departamento, kung ano po ang makakabuti sa ating mga kababayan.” “Ang akin po dito, bilang miyembro po ng Senado, ay pag-aralang mabuti at huwag pong masakripisyo ang kalusugan ng mga kabataan. Ang ayaw natin dito, baka hindi nila kakayanin ang init tuwing summer kasi alam n'yo, nakagawian na natin. Alam n’yo, tuwing summer tayo, March, April, may bakasyon tayo nu’n dahil napakainit po ng klima, napakainit po sa classroom,” he continued. The Department of Education has initiated a review process to evaluate the potential benefits and challenges of reverting to the old academic calendar. According to DepEd spokesperson Michael Poa, the decision to consider reverting to the old academic calendar stems from several factors. He said the agency recognizes the need to address weather-related disruptions that often lead to class suspensions, extended school breaks, and subsequent disruptions to the continuity of learning. “Hindi pa tapos yung pag-aaral tungkol diyan, kung ibabalik or hindi, so I cannot say for sure. Kung ibabalik man, hindi yan kaagaran because if we do that, hindi magkakaroon ng break ang ating mga learners at teachers,” Poa earlier said. Previously, a survey of around 11,000 teachers conducted in the last week of March found that at least 67% of public school teachers experienced "intolerable" heat inside the classroom, distracting students and affecting their attendance. Senator Go asserted that the DepEd, being the primary authority in matters of education, is equipped with the expertise and experience needed to thoroughly evaluate the situation. “Unahin muna natin ang kalusugan ng mga kabataan. Health muna. And of course, huwag po dapat masakripisyo ang education. Importante dito, masusunod pa rin natin ang number of school days na kailangan nilang pumasok sa pag-aaral at huwag masakripisyo ang kalidad ng education kapag inadjust po natin balik sa dating summer break po,” said Go. “I’m sure pag-aaralan po itong mabuti ng ating DepEd officials, mas alam po nila ang kanilang trabaho. So ako po ay nakikiusap sa ating mga officials na pag-aralan at kung kailangang ibalik, ibalik po natin, kung ano po ang mas makakabuti sa mga estudyante na hindi po maaapektuhan ang kanilang kalusugan,” he urged. The post Bong Go wants proposal to revert to the old school calendar studied carefully appeared first on Daily Tribune......»»
MIF now or never
The chief obstructionist in the Senate, who was not even present when the voting took place after a marathon session that resulted in the approval of the Maharlika Investment Fund bill, is hysterically suggesting that President Ferdinand “Bongbong” Marcos Jr. veto the measure. Senate Minority Leader Aquilino “Koko” Pimentel III claimed the bill, after going through deliberations in the chamber, was full of contradicting provisions. The position he has taken exposes his dense nature as a nitpicker who should not be in the Senate. He had the chance to work for the improvement of the bill but his priority as a member of the legislature, instead, was to block its passage. Now, Pimentel is throwing dirt on the bill which his colleagues had to stay up late for, until dawn, before the congressional break, to approve. The bill was sent to Malacañang for Marcos’s signature — which will be soon considering that the President has been adamantly pushing the creation of the fund — after both chambers of Congress approved the proposal Wednesday. The Chief Executive knows that the creation of the MIF is overdue as the economy’s toughest challenge is to generate investments. Yearly, the Philippines lags behind its neighbors in Asia in terms of enticing foreign capital. The MIF will be a magnet for serious investors who look at the long-term prospects of the economy. An economist said that for serious investors, the time to invest is now when most of the global market is bad. When activity picks up, the returns will be higher, the economist explained, to debunk the warning of its detractors that the MIF will be prone to bankruptcy. The wealth fund will primarily tap government income from resources such as the Malampaya royalties that were earlier reported as having been misused. Finance Secretary Benjamin Diokno said that income from resources can also be generated from the radio frequency bandwidth that should be auctioned off instead of being awarded by the government. “Why does the government just give it away to the telcos?” Diokno asked. Another possible resource is the reclamation projects which should also be auctioned off to generate income for the government, he said. The President’s economic managers dismissed contentions that the high debt level which became bloated during the pandemic would deter interest in the MIF. “The way to look at public debt is about the economy’s size. Like a household’s income, if a family earns P20,000 and you borrow P3,000, it is manageable, but if you’re not earning anything and you have a lot of debts then you’re in trouble,” Diokno said. The debt to GDP ratio is about 60 percent, which is fairly manageable based on the current standards compared to other countries which have a 200 percent to 300 percent ratio mainly as a result of spending for programs to address the effects of the pandemic. Many of the debts are long-term, some of which stretch to a maximum term of 40 years,” Diokno said. Now the International Monetary Fund accepts as reasonable a 70-percent debt level in comparison to the economic output. In the Association of Southeast Asian Nations or ASEAN region, Singapore, Malaysia, Indonesia, Vietnam and East Timor have their equivalent of a sovereign wealth fund and these are heavily contributing to their efforts to pull in the capital. Pimentel had blown up opportunities in the past to effectively lead the chamber due to his lack of political will in spearheading changes, which had led to his colleagues withdrawing their confidence in him. Now he is trying to project that lack of inner courage onto the President who has made the MIF his crusade, by calling on him to veto the bill and return it to the House of Representatives. Politics has been blamed for the nation’s failure to realize its full potential, which is best mirrored in Pimentel’s obstructionism. The Senate has put up enough safeguards for the MIF to be shielded from the threats of corruption. Moreover, the overwhelming support of the legislature for the sovereign wealth fund indicated the acknowledgment of elected officials of the need for the fund. Several foreign financing groups have indicated their interest in the MIF, which in themselves are opportunities that will be lost, perhaps with rival economies grabbing them, the longer that the approval of the MIF is delayed. The post MIF now or never appeared first on Daily Tribune......»»
HSBC stays intact, share owners vote
Global lender HSBC on Friday overwhelmingly defeated an activist proposal supported by its largest stakeholder, Chinese insurer Ping An, to spin off the bank’s Asia business. Of the shareholders who voted, more than 80 percent opposed the call to break up the Asia-focused bank, HSBC said in a statement. The vote took place during HSBC’s annual general meeting or AGM in Birmingham, central England. Last March, HSBC assured it is further strengthening its consumer banking business in the Philippines. The AGM came at the end of a week in which the London-headquartered bank posted a surge in quarterly net profit, boosted by rising interest rates and its rescue of the UK arm of failed US lender Silicon Valley Bank. “A large majority of HSBC shareholders voted overwhelmingly to support the board,” HSBC chairman Mark Tucker told the meeting. “That draws a line (under) the debate over the structure of the bank.” Speaking earlier at the meeting, Tucker insisted the proposal to split the bank was not beneficial. “We concluded that the alternative structural options would materially destroy value for shareholders, including putting your dividends at risk. This remains our unanimous view today,” he said. But Ping An, which owns more than 8 percent of HSBC, argued that the lender lags behind international peers and that a recent improvement in performance was tied mainly to rising interest rates, which it claims have peaked. The US Federal Reserve this week hinted that it would pause a policy of lifting borrowing costs aimed at cooling inflation. The European Central Bank on Thursday delivered a smaller interest rate increase than recently as higher borrowing costs begin to take their toll, but said it had “more ground to cover” in fighting red-hot price increases. “It is necessary for HSBC to push for structural reform to fundamentally address HSBC’s underlying market competitiveness issues,” Michael Huang, chairman and CEO of Ping An Asset Management, said recently. Strategic restructuring pushed Ping An had called on HSBC to engage in a “strategic restructuring” that would see it create a separately-listed bank headquartered in Hong Kong. Huang said the proposal would allow the bank to retain control over a separate Asia business, adding that management had “exaggerated many of the costs and risks” associated with a split. HSBC was among a number of major banks to cancel dividends early in the Covid-19 pandemic after an order from the Bank of England, a move that riled some Hong Kong investors. Some retail investors had cited the cancellation of the dividend as a reason to back the spin-off proposal. Friday’s shareholder meeting faced disruption from climate protesters, a common feature this year at annual general meetings being held by major UK companies. “You are happy to profit while the world burns. HSBC stop the greenwash,” one protester shouted as the meeting got underway and before security removed some demonstrators. Environmentalists are pushing for banks to stop funding fossil fuel projects, arguing that while they continue to do, their pledges to help tackle climate change are acts of “greenwashing”. The post HSBC stays intact, share owners vote appeared first on Daily Tribune......»»