PHILIPPINE GDP GROWS LESS THAN EXPECTED IN Q2

MANILA — The Philippine economy expanded less than expected in the second quarter, but at pace still in line with the official 2022 growth target, giving the central bank leeway to further tighten monetary policy to curb red-hot inflation.

The Southeast Asian country’s gross domestic product PHGDP=ECIwas 7.4% higher in the June quarter than a year earlier, growing more slowly than the downwardly revised 8.2% annual rate seen in the previous quarter and the median 8.6% forecast in a Reuters poll.

It was the slowest growth in three quarters but the second-fastest so far in Asia for the second quarter, Economic Planning Secretary Arsenio Balisacan said.

The Bangko Sentral ng Pilipinas (BSP) has flagged the possibility of raising key interest rates further by 50 basis points at its Aug. 18 policy meeting, confident the economy can withstand a less accommodative policy.

It has raised interest rates PHCBIR=ECI by a total 125 basis points since the start of the year to tame inflation, which soared to its fastest pace in nearly four years in July.

Balisacan attributed the second-quarter growth rate to strong construction and household consumption, among other factors.

He said the country’s economic recovery remained strong, with the second-quarter performance in line with this year’s growth target for full-year GDP of 6.5% to 7.5%.

The administration of President Ferdinand Marcos, whose six-year term began on June 30, is further targeting growth in full-year GDP of 6.5%-8.0% annually from 2023 to 2028.

Marcos, who is concurrent agriculture secretary, has vowed to turn the long-neglected farm sector into an engine of growth and to focus on fiscal management and infrastructure upgrades to sustain the economy’s rebound from the pandemic.

MARCOS TO ADDRESS UN ASSEMBLY NEXT MONTH

MANILA — President Marcos is expected to attend the United Nations General Assembly (UNGA)’s annual gathering of world leaders next month, the Philippine ambassador to the United States said yesterday.

In an interview on ANC, Ambassador Jose Manuel Romualdez said Marcos is expected to address the UNGA on Sept. 20.

He said Marcos’ flight had been booked even before he formally assumed the presidency since this was a “first come, first served” basis.

“So President Marcos is expected to speak at the UN on September 20th which is the day it starts,” Romualdez said.

According to Romualdez, several heads of state have asked for a meeting with Marcos.

“There are many people who are very eager to listen to him from what I’m told. We have several heads of state who have asked if they could have a meeting with President Marcos. So it’s going to be something that’s going to be very important for the country,” he added.

Romualdez said Marcos may mention the West Philippine Sea and the 2016 arbitral ruling.

“I think that that’s probably going to be mentioned, generally, I suppose,” he said.

MERALCO RATES DOWN FOR 2ND STRAIGHT MONTH

MANILA — Meralco rates are down for the second consecutive month due to lower generation and distribution charges.

Joe Zaldarriaga, Meralco vice president and head of corporate communications, said at a briefing yesterday that the overall rate for a typical household went down by P0.2087 this month to P9.5458 per kilowatt-hour from last month’s P9.7545 per kWh.

This is equivalent to a decrease of around P42 in the total bill of a residential customer consuming 200 kWh, P65 for 300 kWh, P89 for 400 kWh and P117 for 500 kWh.

The adjustment has likewise resulted in a combined reduction of P0.9154 per kWh over the past two months and a net decrease of P0.2315 per kWh since the start of the year.

“The drivers are basically the lower generation and distribution costs, despite the slight uptick in transmission. This is the second straight month, so hopefully this is good news for our customers,” Zaldarriaga said.

Meralco said the generation charge for this month declined by P0.1944 to P6.5812 per kWh from P6.7756 per kWh last month due to the decrease in charges from power supply agreements (PSAs), which more than offset increases in charges from independent power producers (IPP) and the Wholesale Electricity Spot Market (WESM).

A reduction of P0.4273 per kWh for PSA charges was registered, as this month’s rate no longer included recovery of deferred generation costs for the April bill.

Meralco said higher excess energy of some PSAs, which are priced at discount, also contributed to the decrease.

BUDGET DEPT RELEASES ANOTHER P2 BILLION TO DSWD TO AID INDIVIDUALS 'IN CRISIS SITUATIONS'

MANILA - The Department of Budget and Management on Tuesday said it has released another P2 billion for families and individuals "in crisis situations."

The Special Allotment Release Order (SARO), for release to the Department of Social Welfare and Development (DSWD), was approved by Budget Secretary Amenah Pangandaman on Aug. 8, the DBM said in a statement.

“Maganda ang timing ng karagdagang pondong ito. Gusto nating tulungan ang DSWD para makapagbigay ng tulong at proteksyon sa mga pamilyang nangangailangan,” Sec. Amenah Pangandaman said.

The fund will boost DSWD's Assistance to Individuals in Crisis Situation (AICS) which offers financial assistance for transportation, medical, burial, food and other support services for families or individuals, the DBM said.

As of June 30, the AICS program has served over 1.5 million, overshooting its 1.4 million target. More beneficiaries totaling 642,348 are projected for the rest of 2022, the agency said.

FORMER VP CANDIDATE WALDEN BELLO ARRESTED OVER LIBEL, CYBER LIBEL RAPS

MANILA — Former vice presidential candidate Walden Bello was arrested in his house in Quezon City on Monday, according to his staff Leomar Doctolero.

The arrest, which happened at around 4 p.m., is in connection with the libel and cyber libel cases filed against him by former Davao City information officer Jefry Tupas.

Tupas filed the cyber libel case against Bello in March this year after the then-VP aspirant in a TV interview accused Tupas of being a drug dealer and involved in a drug raid.

Tupas denied both allegations.

Based on a copy of the arrest warrant shared by his staff, Bello is facing two charges — for libel and cyber libel.

Bail was set at P48,000 per case.

The arrest warrant was issued Monday by Davao City Regional Trial Court Branch 10 Judge Retrina Espe-Fuentes, and immediately implemented in Quezon City.

Doctolero told ABS-CBN News they were informed about the possibility of the arrest because of the indictment.

“The resolution for his indictment was released last June 9. We filed for a Motion for Reconsideration with the Prosecutors' Office which was subsequently denied,” he said.

“We have been anticipating the arrest warrant because of the indictment of the Davao prosecutor. It's a bailable offense and counsel is on the way to assist him,” he added.

BBM WARNS OF UNCERTAIN TIMES

President Ferdinand Marcos Jr. on Monday warned of a “constantly changing world wrought with conditions and situations that are hard to predict” as he rallied members of the Armed Forces of the Philippines to remain steadfast in the commitment to securing the peace.

During the change of command ceremony at Camp Aguinaldo where Lt. Gen. Bartolome Bacarro assumed the post of AFP Chief of Staff—the first to serve with a fixed three-year term—Marcos underscored the challenges that his administration, and the military, will face.

“As we look and think about a world that is constantly changing, a world wrought with conditions and situations that are hard to predict, a world full of elements and forces that can wreak havoc on its domain, the kind of leadership that you possess: the strong presence, the administrative and operational proficiency, unmatched discipline, and unwavering commitment will come in useful for the work that you are facing ahead of you,” the President said.

“I know that you know well that the journey will not be an easy one. It will be sometimes treacherous, always complex. It will be difficult and at times seemingly unbearable. But with the AFP beside us, assisting and putting in place the fundamental prerequisites for nation-building, we shall overcome and emerge victorious in the end,” he added.

Marcos described Bacarro, the 58th leader of the AFP, as a “reliable partner” as his administration begins “the difficult undertaking of rebirth and restoration of the Republic, transforming the country into a haven that is safe, secure, peaceful, and prosperous for all present and future Filipinos to enjoy.”

Before becoming AFP chief, Bacarro, a Medal of Valor awardee, served as commander of the Southern Luzon Command.

In his speech, Bacarro underscored the need to move forward with the military’s self-reliant defense posture program to make the AFP at par with that of other nations in the region.

THE REST

========

OMICRON BA.5 ‘MOST PREDOMINANT’ SUB-VARIANT OF SAMPLES SEQUENCED

The current increase in COVID-19 cases may be attributed to the coronavirus Omicron BA.5 sub-variant, which now comprises about 85 percent of the samples sequenced by the Philippine Genome Center (PGC).

Of the 1,100 to 1,200 samples being sequenced in the country per week, BA.5 was the “most predominant variant” detected, said PCG Executive Director Dr. Cynthia Saloma.

The subvariant overshadowed other Omicron sub-variants such as BA.4, BA.2.12.1, and BA.2.3, she said.

“If we consolidate the data from Visayas, Mindanao, and Luzon… if we look at this in the past month alone, BA.5 is really the most predominant sample or variant that we are sequencing in the Philippines. It’s about 85 percent of our sequenced samples,” she said in a mix of English and Filipino.

“All in all, we can probably say that this current wave is really the BA.5 wave here in our country,” she added.

Saloma said that based on the PGC’s sequencing analysis, most of the detected BA.5 cases in the country were composed specifically of the BA.5.2.

The Department of Health (DOH) on Friday reported an additional 95 BA.5 cases in the Philippines, which brought its total caseload to over 3,100.

On the other hand, OCTA Research fellow Dr. Guido David said that the COVID-19 wave in the country was lasting longer than expected and could continue until the last quarter.

“Initially, we expected a two-month wave due to Omicron BA.4 and BA.5 because that is how long it lasted in South Africa, but our wave has not peaked yet. It’s taking longer,” he said.

“Right now, it’s looking like it will last up to four to five months,” he added.

On Tuesday, the Department of Health (DOH) announced that the country detected its first two cases of the Omicron sub-variant BA.2.75, dubbed “Centaurus,” in the Western Visayas.

Infectious disease expert Dr. Edsel Salvana, meanwhile, said there is no need to raise the COVID-19 alert level, even though the country has logged more than 4,000 new cases for four consecutive days.

“Our health utilization [rate] is still good, and the ADAR [average daily attack rate] is still below 18, so those are the parameters. Because the number of cases is not as important as it was before,” he said in Filipino.

CENTRAL LUZON, METRO MANILA, CALABARZON LEAD IN DENGUE CASES: DOH

MANILA - Central Luzon, Metro Manila, and Calabarzon tallied the highest number of dengue cases in the recent 4 weeks, the Department of Health (DOH) said Monday.

A total of 21,566 dengue cases were recorded from June 26 to July 23, according to the latest data from DOH.

Central Luzon accounted for 24 percent or 5,186 cases, followed by Metro Manila (11 percent or 2,374 cases) and Calabarzon (2,178 or 10 percent).

A total of 92,343 have been reported so far this year, a 118-percent increase versus the reported 42,294 cases during the same period in 2021, the DOH said.

Majority were from Central Luzon (15,951 or 17 percent), Central Visayas (9,429 or 10 percent), and Metro Manila (7,962 cases or 9 percent).

Nine out of 17 regions exceeded the epidemic threshold in the past 4 weeks with Mimaropa and Metro Manila "showing a sustained increasing trend" from June 26 to July 23, the DOH said. The figure is a decrease from 10 regions during the period of June 19 to July 16.

A total of 344 dengue-related deaths or a 0.4 percent case fatality rate have been reported.

SEVERE FLOODING DRENCHES DAVAO CITY, SOME TOWNS IN CEBU

Davao City and some localities in Cebu province were hit by severe flooding on Monday night.

In a video by Anne Raj Rugay, motorists traversing through downtown Davao can be seen stranded. Some riders pushed their motorcycles through the floodwaters.

Carlo Melendres, meanwhile, caught on video some riders struggling to deliver goods to customers. Melendres, a delivery man himself, said he called his customers that he would not make it to their houses.

Commuters were also stranded due to lack of available public utility vehicles.

Some residents in Davao City were evacuated preemptively.

In Cebu, houses in Carcar City were swamped with waist-high floodwater overnight.

In photos and videos shared on social media, residents of Sitio Santa Catalina, Brgy. Poblacion II were using tabo to discard floodwater from their houses.

Keynes Jimenez said this is the worst flood he experienced living in Poblacion II.

“Ito ang pinakamatindi kasi umabot na sa baywang ang tubig at matagal itong huhupa,” ani Keynes sa Cebuano.

Carcar city officials said the Nellas River overflowed, leading to severe flooding, adding they had to use Upland Elementary School as an evacuation center for affected residents.

In San Fernando, Cebu, some villages were also affected by the deluge, which spread to the town's major highways.

According to a resident, this is the second time this month that the San Fernando experienced floods.

PAGASA on late Monday night issued an orange rainfall warning in some regions in the Philippines due to the southwest monsoon enhanced by a low pressure area.

FLOOD HITS PARTS OF NEGROS ORIENTAL, CLASSES SUSPENDED IN GUIHULNGAN CITY

Heavy rains caused floods in two barangays in Guihulangan City, Negros Oriental Monday night after state weather bureau PAGASA issued an orange rainfall advisory in the province.

Guihulngan City CDRRMO responder Michael Dela Torre said the barangays of Calamba and Poblacion were severely affected by the flood. “The rivers in our city overflowed last night," he said.

Alert level 1 was also raised in landslide prone Barangays Planas and Humayhumay.

Rescuers extracted several individuals who were trapped inside their homes and sent them to the barangay gym which served as the evacuation center.

The city is now conducting its assessment and looking into assisting those whose homes were damaged by the flood.

Following this incident, the local government of the city declared a suspension of classes in all levels.

“The passability of roads have been affected, houses have been damaged or deluged with sludge, and some even needed to evacuate from their respective residences,” said Mayor Filomeno Reyes.

PAGASA's orange rainfall advisory covers Central Visayas regions, including the southern part of Negros Oriental.

ENTERTAINMENT & LIFESTYLE

WHAT 'DARNA' CAN TEACH VIEWERS, ACCORDING TO JANE DE LEON

MANILA — For 'Darna' star Jane de Leon, the highly anticipated teleserye can teach people to help others in times of need.

"If may kakayahan kang tumulong, tumulong, mapalaki o maliit na bagay, malaking bagay na po ’yan para sa mga taong nangangailangan," De Leon said in a press conference held Monday.

"Hindi naman po natin ipagdadamot ’yun laluna kung may mga pinagdadaanan tayo kung anuman ’yung mga natutunan natin sa buhay magsilbi tayong inspirasyon para sa lahat."

De Leon credited her parents who serve as her own Darna.

"Simula po nu’ng una hindi naman po kami ganoon kayaman at lumaki po ako sa hirap at nakita ko po ’yung sakripisyo ng mga magulang ko kung paano nila pinalaki ng mga magulang nila," she said.

"Minsan nga ’yung P100 pinagkakasya namin nina Mama. Kung wala po si Mama, wala rin po ako dito ngayon."

The "Darna" series will premiere on August 15 on Kapamilya Channel, Kapamilya Online Live, A2Z, TV5, and iWantTFC.

Also part of the cast are Iza Calzado as the first Darna and Narda's mother Leonor, Janella Salvador as Valentina, Zaijian Jaranilla as Darna's sidekick Ding, and Joshua Garcia as a cop named Brian.

'GREASE' STAR OLIVIA NEWTON-JOHN DIES AGED 73 — FAMILY

Singer Olivia Newton-John, who gained worldwide fame as the high school sweetheart Sandy in the hit movie "Grease", died on Monday after a 30-year battle with cancer. She was 73.

Newton-John "passed away peacefully at her ranch in Southern California this morning, surrounded by family and friends," said a statement from her husband John Easterling posted on her official social media accounts.

The entertainer, whose career spanned more than five decades, devoted much of her time and celebrity to charities after first being diagnosed with breast cancer in 1992.

The British-born and Australian-raised star dedicated a number of albums and concerts to raise funds for research and early detection of the disease, including the construction of a health centre named after her in her adopted home Melbourne.

"I don't like to say 'battled'," a defiant Newton-John told Australia's Channel Seven TV in September 2018 after revealing she had been diagnosed with cancer for a third time.

"I like to say 'win over', because 'battled' sets up this anger and inflammation that you don't want."

Newton-John is best-known for starring in the 1978 musical "Grease" alongside John Travolta, as the-girl-next-door Sandy, who trades her ankle-length skirt and prim and proper hair for skin-tight black pants and a perm.

The high school sweetheart-turned-bad girl resonated with audiences worldwide, and continues to capture hearts decades after the movie was released.

"Making it was fun but you never know with movies if audiences are going to go with it or not, even if you love it," she said in a Forbes interview in 2018.

"It is incredible that it is still going but it's not even just that, it's showing no signs of stopping. You say 'Sandy and Danny' and people instantly know what you're talking about."

"Grease" remained the highest-grossing musical for three decades, with Newton-John and Travolta maintaining a close relationship long after the film was made.

Her career would span from singer and actor, to author and philanthropist in the coming decades, with her passion for cancer research at the forefront, championing natural therapies, including medicinal cannabis in the treatment of cancer.

She performed into her late 60s, until her latest diagnosis, including a two-year residency in Vegas, a 2015 tour with Australian music legend John Farnham and even recording a Club Dance track at 67 with her daughter Chloe Lattanzi.

"I have done everything, and the icing on the cake as well," she said, reflecting on her career.

"So I feel grateful for anything that happens now."

INDICATORS

FOREX $1 = P 55.55

THOUGHT FOR THE DAY

But let's put it this way: You got to be willing to change. Once you harden, the arteries do. - Allan Gurganus