Category: General

The national government’s subsidies for government-owned and controlled corporations (GOCCs) amounted to PHP7.38 billion in May. Data from the Bureau of the Treasury (BTr) showed the amount was slightly lower than the PHP7.9 billion in the same month last year. The National Irrigation Administration (NIA) was the biggest recipient of budgetary support anew, amounting to PHP4.22 billion. The National Food Authority received PHP849 million, second on the list, while the National Housing Authority came in third with subsidies amounting to PHP363 million. BTr data showed that GOCCs which received more than PHP100 million of subsidies include Philippine Fisheries Development Authority (PHP319 million), Philippine Heart Center (PHP 271 million), Philippine Rice Research Institute (PHP239 million), Philippine Children’s Medical Center (PHP173 million), and National Kidney and Transplant Institute (PHP125 million). For the first five months of the year, the national government’s subsidies to GOCCs have already amounted to PHP37.6 billion. NIA received the biggest subsidy which amounted to PHP18.28 billion, followed by the Power Sector Assets and Liabilities Management Corp. with PHP5 billion. In April, budgetary support for GOCCs grew to PHP8.9 billion from PHP5.1 billion in the same month last year but lower than the PHP10.79 billion in March

Source: Philippines News Agency

Fide Master Christian Mark Daluz and Jerome Villanueva claimed their third victories over the weekend to share the lead in the AQ Prime Stream FIDE Standard Open Chess tournament being held at Robinsons Metro East in Pasig City. Daluz defeated fellow FIDE Master Christian Gian Karlo Arca while Villanueva downed National Master Mark Jay Bacojo. “I hope to do well in this event and gain some Elo rating points,” said Daluz, the top player of the University of Santo Tomas chess team and the newest member of AQ Prime Sports. He was conferred the FIDE (International Chess Federation) Master title in February. Daluz’s earlier victories were over Fide Master Adrian Ros Pacis and National Master Edmundo Gatus. International Master Jose Efren Bagamasbad, the reigning Asian senior (over 65 category) champion, conquered Carlos Edgardo Garma and is third with 2.5 points, followed by Kevin Arquero, who drew with International Master Cris Ramayrat. The tournament sanctioned by the National Chess Federation of the Philippines offers PHP10,000 cash to the winner. In the 2000 and below category, NM Jasper Faeldonia beat Clarence Lagac to share the lead with NM Bob Jones Liwagon, Mark James Marcellana, Angele Tenshi Biete, Errenz Denisson Calitisin, NM Al-Basher “Basty” Buto, Freddie Talaboc, Chester Neil Reyes, John Ernie Maraan, Jovert Valenzuela, Jan Lei Kian Rosaupan, Oscar Joseph Cantela, Jhulo Goloran Yuri Lei Paraguya, Stephen Manzanero and Mark Gerald Reyes. All have three points. Meanwhile, the 2nd Engr. Alejandro Ramos Sr. and Jr. Memorial Open kicked off on Sunday at Civic Center in Lingayen, Pangasinan. Jeremy Marticio, aiming to raise his rapid rating of 1764, is among the participants of the tournament organized by Pangasinan Chess Federation president Juan Sison, Lingayen Chess Club official Tom Ferrer, and Mayor Leopoldo Bataoil. The 17-year-old, Grade 11 student of Pulo Senior High School in Cabuyao, Laguna, is coming off a win in the Mayor Darel Dexter Uy National Age Group Chess Championships Grand Finals U18 boys blitz event in Dipolog City, Zamboanga del Norte province last April 10. Marticio will also join the 82nd Birthday and 25th Death Anniversary of GM Rosendo Carreon Balinas Jr. Open Rapid on Sept. 30 at Rockwell Business Center in Mandaluyong City. Also competing are IM Ronald Bancod, IM Rolando Nolte, WNM Jersey Marticio, Romy Fagon, Henry Calacday, Jose “Fer” Camaya, Nestor Gabayan, James Basa, Bensh Manago, Jonathan Bayron, and Edgar Tullao. Prizes at stake are P10,000 (1st), P7,000 (2nd), P5,000 (3rd), P3,000 (4th), P2,000 (5th), P1,000 (6th), P800 (7th), P500 (8th-10th), and P300 (11th-15th). In the Under12 category, the cash prizes are P4,000 (1st), P2,000 (2nd), P1,000 (3rd), P700 (4th), P500 (5th), and P300 (6th-10th).

Source: Philippines News Agency

For the second consecutive day, a lone bettor from Metro Manila became an instant millionaire after hitting the PHP61-million jackpot of the Lotto 6/42 draw on Saturday night. In an advisory Sunday, the Philippine Charity Sweepstakes Office (PCSO) said the bettor’s winning combination of 18-25-12-14-13-22 carried a total jackpot prize of PHP61,234,178. The ticket was purchased in Las Piñas City. The bettor can claim the check at the PCSO main office in Mandaluyong City upon presentation of the winning ticket and two identification cards. Lotto winnings of more than PHP10,000 shall be subject to a 20-percent tax under the Tax Reform for Acceleration and Inclusion law. Prizes not claimed within a year will be forfeited. Meanwhile, 88 others won PHP24,000 each for guessing five out of the six winning digits; 3,554 bettors will get PHP800 each for four correct digits; and 52,043 will settle for PHP20 each for three correct digits. The 6/42 Lotto is drawn every Tuesday, Thursday, and Saturday. PCSO urges the public to patronize their games as a large chunk of revenues goes to charity programs.

Source: Philippines News Agency

The advertising firm contracted by the Department of Tourism (DOT) for the ‘Love the Philippines’ campaign has ‘profusely’ apologized to Secretary Christina Frasco, the entire agency, and the Filipino people ‘for the apparent use of non-original/stock footage in the audio-visual presentation (AVP).’ In a statement on Sunday, DDB Philippines said it is taking full responsibility for the blunder. ‘As DOT’s agency on record for the launch of this campaign, we take full responsibility over this matter,’ the statement read. ‘We are fully cooperating with and assure our full compliance towards the Department of Tourism’s investigation of this matter.’ The AVP uploaded on social media on Friday has been taken down as of posting time. It was first pointed out by blogger Sass Sasot in a Facebook post Saturday after noticing that at least six of the clips featured in the promotional video are not located in the country and were sourced from a stock video footage site. Immediately, the DOT said in a statement late Saturday that an ‘exhaustive investigation’ is underway ‘to determine the veracity of, and to gather the full faculty of facts on, these allegations.’ DDB assured that the AVP ‘intended to be a mood video to excite internal stakeholders about the campaign’ was produced at its own expense and no public funds were released or would be released. ‘This was a DDB initiative to help pitch the slogan,’ DDB said. READ: ‘Love the Philippines’ viral video under ‘exhaustive’ probe DDB said that while the use of stock footage in mood videos is standard practice in the industry, the use of foreign stock footage was an unfortunate oversight. ‘Proper screening and approval processes should have been strictly followed. The use of foreign stock footage in a campaign promoting the Philippines is highly inappropriate, and contradictory to the DOT’s objectives,’ it said. DDB said the succeeding advertising materials have yet to be produced for the campaign. ‘We sincerely hope this will not diminish the genuine love and appreciation the stakeholders and the public have been showing for the ‘Love The Philippines’ campaign,” DDB said. The DOT unveiled the enhanced tourism campaign slogan ‘Love the Philippines’ on Tuesday, replacing the 11-year-old “It’s More Fun in the Philippines” with an intent to come up with one that showcases the ‘Filipino brand.’ ‘The campaign Love the Philippines is not a mere branding campaign, but rather a call to action to every Filipino citizen to remember the beauty of our country, to honor our past, and to look forward to the future armed with the virtues, (and) values of being a Filipino,’ Frasco said during the launch coinciding with DOT’s 50th anniversary celebration at The Manila Hotel. ‘Love the Philippines is a recognition of our natural assets, our long and storied history, our rich culture and diversity,’ she said.

Source: Philippines News Agency

Pope Francis has named his Argentine compatriot Archbishop Víctor Manuel Fernández as the new Prefect of the Dicastery for the Doctrine of the Faith (DDF), the Vatican said on Saturday. Archbishop of La Plata Fernández will succeed Cardinal Luis Francisco Ladaria Ferrer, a Spanish theologian, whom the pope thanked for his years of service at the helm of the Dicastery. Fernández will take up his new duties in mid-September 2023, the Vatican said. In a letter to the new prefect, Francis said he was entrusting him with a task he considers very valuable. He wrote that its central purpose is to guard the teaching that comes from the faith ‘to give for our hope, but not as an enemy who critiques and condemns.’ The pope said that, while in the past the DDF had pursued possible doctrinal errors and questionable methods, what he expected from the new leadership was something very different. Among other things, the pope stressed the importance of a specific section in the Holy See dedicated to the protection of minors and asked the new Prefect to commit personally and directly to the main purpose of the Dicastery which is “to guard the faith”

Source: Philippines News Agency

The Philippine economy remains on track to returning to its high-growth trajectory, backed by several initiatives implemented by President Ferdinand R. Marcos Jr.’s administration. “One year into the Marcos Presidency, the Philippine economy remains firmly on track as it returns to its high-growth norm, supported by a strong labor market performance and a downward-trending inflation that is on its way to reaching the government’s target,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said in a statement over the weekend. Balisacan admitted that the president began his term “under very challenging and unique circumstances’ brought about by the Covid-19 pandemic, and strict quarantine measures imposed to prevent the further spread of the virus caused the Philippine economy to contract by 9.5 percent in 2020. Balisacan said the significant contraction “came with a number of socioeconomic setbacks” which include high national debt, social and economic scarring in terms of learning losses, business closures, and a high unemployment rate. “Recognizing the immediate issues at hand, the President crafted his 8-Point Socioeconomic Agenda, a list of priorities that would guide the policies, programs, and initiatives of his presidency,” said Balisacan. “The agenda not only focuses on pressing, short-term issues such as inflation, a tighter fiscal space, and socioeconomic scarring but also on priorities for the medium term to reinvigorate higher-quality job creation and accelerate poverty reduction in the next six years,” he added. According to Balisacan, the Marcos administration’s priorities were key in shaping his Economic Team’s early initiatives and outputs, including the country’s Medium-Term Fiscal Framework, which ensures the alignment of the legislative agenda with the attainment of sound fiscal targets; the PHP5.268-trillion budget this year which focuses on the identified socioeconomic priorities of the President; and the Philippine Development Plan 2023-2028, the country’s medium-term development blueprint to effect socioeconomic transformation for a prosperous, inclusive, and resilient society. He said the further reopening of the economy revived consumption, allowing the country’s gross domestic product to expand by 7.7 percent in the third quarter of 2022, 7.1 percent in the fourth quarter of 2022, and 6.4 percent in the first quarter of 2023. For full-year 2022, the Philippine economy grew by 7.6 percent, exceeding the government’s 6.5 to 7.5 percent target. “These indicators paint a promising picture of a sustained recovery for 2023,” said Balisacan. The government aims to attain a 6 to 7 percent economic growth expansion this year. He added that unemployment rate also went down to 4.5 percent as of April this year from 5.7 percent in April 2022 while inflation also decelerated from a high of 8.7 percent in January this year to 6.1 percent in May. Inflation, he said, is expected to further ease and settle within the government’s 2 to 4 percent target range by the end of the year. Balisacan said Marcos created a more open and enabling regulatory and investment policy environment and has shown his deep commitment to pursuing sound and cohesive policies by having a Cabinet with members who capably understand the constraints that need to be addressed to realize the President’s socioeconomic agenda. He added that the Philippines also further opened its economy to trade, investment, and competition with its accession to the Regional Comprehensive Economic Partnership (RCEP); creation of Green Lanes for Strategic Investments; amendments to the Implementing Rules and Regulations of the Renewable Energy Act and the Build-Operate-Transfer Law; and changes to the NEDA Joint Venture Guidelines. Marcos also convened the National Innovation Council (NIC), citing the need to establish a dynamic innovation ecosystem to sustain rapid economic growth and improve the quality of life in the long term. “Lastly, the NEDA Board, chaired by President Marcos, has been actively pushing for the rigorous assessment and swift approval of major projects to ensure their timely and effective implementation while upholding public interest,” said Balisacan. The NEDA chief assured that the Marcos administration remains committed to ensuring that the poor and vulnerable are protected from economic shocks. Some of the initiatives implemented to ensure this include the provision of targeted transfers and assistance to those hardest hit by inflation; establishment of the Inter-agency Committee on Inflation and Market Outlook to monitor supply and demand conditions proactively for essential commodities and recommend timely policy interventions to manage inflation; approval of the Social Protection Floor to institutionalize basic social security guarantees; and ramped up rollout of the National Identification to have a more efficient and inclusive social protection system. “Overall, despite the many challenges and headwinds it has faced, the Marcos Administration has successfully navigated its first full year in office but recognizes that much is yet to be done. Guided by the strategies it has formulated and the frameworks it has instituted, the government shall continue to work with the private sector and members of civil society so that the country may progressively attain its ambitious development targets,” Balisacan said.

Source: Philippines News Agency