Manila – Toki, the first social commerce platform dedicated to collectibles, has identified the Philippines as a significant market, with approximately 40 percent of its population being collectors. In a statement released on Thursday, Toki announced its aim to tap into the USD5 billion collectibles market in the Philippines. The platform is designed to provide secure and streamlined transactions for the country’s burgeoning collectibles sector.

According to Philippines News Agency, the Philippine collectibles market is valued at USD5 billion, yet buyers and sellers have faced challenges with unsecured and complicated trading processes.

Toki co-founder Zoe Ocampo highlighted the difficulties collectors experience in searching for and purchasing collectibles, often dealing with multiple sellers and uncertainty regarding product credibility and authenticity. Toki seeks to remedy these issues by offering a digital marketplace for both buyers and sellers, complete with features like a livestream auction for real-time engagement. The platform also partners with GCash and NinjaVan to ensure secure payments and reliable logistics.

Jules Jurado, another co-founder of Toki, emphasized the platform’s commitment to authenticity and reliability. Toki aims to host only sellers who meet their selection criteria, and products are verified by the Toki team to ensure genuineness. Toki’s launch in the Philippines will feature four categories for collectors: Sneakers, LEGO, NBA cards, and Funko Pops!

Quezon City – The Philippine National Police (PNP) reported a significant increase in election-related incidents (ERIs) for the 2023 Barangay and Sangguniang Kabataan Elections (BSKE) compared to the previous elections. PNP spokesperson Col. Jean Fajardo, during a press briefing in Camp Crame, Quezon City, stated that a total of 105 validated ERIs were recorded from August 28 to November 29. This number marks a 162% increase, up by 65 incidents from 40 validated ERIs during the 2018 polls. Out of the PNP’s final tally of 331 incidents, five cases are still undergoing validation, while 221 incidents were confirmed as unrelated to the polls.

According to Philippines News Agency, The Bangsamoro Autonomous Region in Muslim Mindanao recorded the highest number of confirmed ERIs with 57, followed by Northern Mindanao with 15, and six each in Eastern Visayas and Ilocos Region. Other regions recorded fewer incidents. Despite the increase in ERIs, Fajardo assured that these did not affect the overall electoral process, and there was no recorded failure of election. The incidents resulted in 29 fatalities and 100 injuries.

Additionally, Fajardo reported the arrest of 2,672 persons during the implementation of the nationwide gun ban for the BSKE, which officially concluded on Wednesday. Authorities confiscated 2,087 firearms, with 2,241 surrendered and 2,753 deposited for safekeeping.

Regarding the case of Lt. Col. Mark Julio Abong, Fajardo stated that the PNP is awaiting the official order from the Department of the Interior and Local Government (DILG) concerning his dismissal from service. The DILG denied Abong’s appeal for his dismissal following a hit-and-run and drunk driving incident in August 2022 in Quezon City. Upon dismissal, Abong will forfeit his benefits, lose his eligibility, and be permanently disqualified from holding any government position. He may appeal to the Civil Service Commission (CSC) and the courts. The PNP Firearms and Explosives Office has revoked the licenses of his three firearms. Abong faces several charges, including an indictment by the Quezon City Prosecutor’s Office for a separate incident involving firearm discharge in a bar.

Manila – Stakeholders of the Philippine Stock Exchange (PSE) have expressed optimism following Standard and Poor’s (S and P) Global Ratings’ affirmation of the Philippines’ ‘BBB+’ long-term and ‘A-2’ short-term sovereign credit ratings. The affirmation by the New York-based S and P Global Ratings was welcomed as a positive sign amid a challenging global economic climate.

According to Philippines News Agency, this development comes shortly after Fitch Ratings, another American credit rating agency, maintained the Philippines’ ‘BBB’ rating with a stable outlook earlier this month.

Astro del Castillo, managing director of First Grade Finance, lauded S and P’s steady ratings as indicative of effective economic management in the Philippines. Del Castillo contrasted the country’s stable ratings with the downgrades experienced by developed economies, including the United States. He noted that the US faced downgrades by Moody’s and Fitch Ratings earlier this year, due to issues like large fiscal deficits and declining debt affordability.

Francis Chua, chairman of BA Securities and chairman emeritus of the Philippine Chamber of Commerce and Industry (PCCI), echoed these sentiments, emphasizing the significance of maintaining stable ratings. Chua credited President Ferdinand R. Marcos Jr. and his economic team for the country’s financial stability. S and P Global Ratings, in affirming the Philippines’ credit standing, highlighted the nation’s sustained economic recovery, driven by government efforts to address infrastructure gaps and improvements in the business environment. S and P Global Ratings is part of S and P Global, a prominent financial research and analysis firm and one of the ‘Big Three’ credit-rating agencies.

Antique – The Sibalom Livestock and Poultry-raisers Association (SILPRA), the largest hog-raisers association in Antique, has expressed its willingness to supply live swine for pork consumption in the capital town. SILPRA president Elma Peña, in an interview, confirmed that some of their members’ farms remain unaffected by African swine fever (ASF) and can provide six to eight heads of live weight daily.

According to Philippines News Agency, with approximately 490 members across various municipalities, can offer live weight at PHP 200 per kilogram to the Tradetown Meat Vendors Association (TMVA) at the Dalipe Tradetown in San Jose de Buenavista. With pork currently selling at PHP 350 per kilogram, TMVA members can still profit from this arrangement.

Peña mentioned that SILPRA currently transports about 40 to 50 hogs to Iloilo and neighboring provinces three to four times a week. She suggested coordination between the San Jose de Buenavista Municipal Economic Enterprise and Development Office (MEEDO) and other towns’ MEEDOs to secure supply from other hog-raisers. Darcy Bungay, head of San Jose de Buenavista MEEDO, stated they are encouraging TMVA, led by president Julius Singuran, to negotiate with SILPRA for supply.

The need for alternative suppliers arose after TMVA members were unable to sell pork on November 8 due to an ASF case in their usual supplier’s municipality. Governor Rhodora J. Cadiao’s Executive Order 238, issued on November 13, permits the entry of live swine, pork, and related products from ASF-free areas into Antique. This measure aims to stabilize pork supply in the capital, particularly during the Christmas season.

North Cotabato – At least 75 persons deprived of liberty detained in North Cotabato were released on Thursday, following expedited legal proceedings. The release, part of the Enhanced Justice on Wheels (EJOW) program, marked the fifth event in the province, following similar proceedings in 2012, 2014, 2016, and 2018.

According to Philippines News Agency, the EJOW program not only expedites the administration of justice but also raises public awareness about the High Court’s efforts to improve the justice system. Javier highlighted the five pillars of justice: community, law enforcement, prosecution, courts, and corrections. She thanked the provincial government and Governor Lala Taliño-Mendoza for their support in making the program successful. Javier also emphasized the role of EJOW in improving access to justice, facilitating prompt case resolution, easing case backlog, and bringing justice to remote areas. Governor Mendoza assured her continued support for EJOW activities in the province.

Manila – The Office of the Speaker of the House of Representatives incurred travel expenses totaling PHP 4.3 million for foreign trips from January to October 2023. This was disclosed by House Secretary General Reginald Velasco during the House Committee on Legislative Franchises hearing on Thursday. The financial report was presented to counter claims made by a host of Sonshine Media Network Inc. (SMNI) alleging that Speaker Martin Romualdez had a PHP 1.8 billion travel fund.

According to Philippines News Agency, the expenses covered the staff accompanying the Speaker on his foreign trips. Additionally, Velasco noted that the total travel expenses incurred by all other lawmakers and the House Secretariat for the same period amounted to PHP 35.25 million. The combined expenses for the Office of the Speaker, the House Secretariat, and members of Congress on official trips reached PHP 39,605,123.61. Committee chairperson and Paranaque Rep. Gus Tambunting emphasized the importance of fair and accurate news reporting, noting its influence on public opinion and trust in matters of public interest.

Tambunting also highlighted that while free speech and press freedom are constitutional rights, the allocation of TV and radio frequencies is not guaranteed and is subject to congressional authority. He stated that Congress has the power to grant, amend, suspend, or revoke legislative franchises. He referred to Section 4 of Republic Act 11422, which requires broadcast stations to avoid deliberately disseminating false information.

Surigao del Sur Rep. Johnny Pimentel questioned why SMNI should not be held accountable for violating Section 4 of its legislative franchise, citing the discrepancy between the claimed PHP 1.8 billion travel fund and the actual PHP 39 million incurred. Mark Tolentino, legal counsel for SMNI, responded that the hosts were merely posing a question and not accusing Romualdez of the alleged expenditure. Tolentino mentioned that SMNI is conducting an internal investigation into the matter and highlighted the disclaimer in SMNI’s programs that statements made by anchors or guests do not represent the official stance of the station.

He defended the station’s actions, invoking the Philippine Supreme Court’s jurisprudence on freedom of press and expression. Tolentino also referred to the Civil Code, stating that there is a presumption of good faith and the burden of proof for any breach of legislative franchise lies with the accuser.