GOVERNMENT TO HIKE INTEREST RATES

President Ferdinand Marcos Jr. said the government will raise interest rates to keep inflation in check, a policy that is likely to raise the cost of borrowing.

After meeting with his economic managers Tuesday, Marcos said taming inflation was the “number one priority.”

The inflation rate rose to 6.9 percent in September, the highest in four years.

“We will continue to use interest rates to mitigate the effects,” the President said in a Twitter post.

“We may have to defend the peso in the coming months, but the overall forecast is that we are still doing better than other countries in terms of inflation,” he added.

The Asian Development Bank (ADB), in its Asian Development Outlook 2022 update, said it expects inflation in the country to reach 5.3 percent in 2022—much lower than the forecast in Laos, at 17 percent, Myanmar at 16 percent and Timor-Leste at 7.4 percent.

Economic Planning Secretary Arsenio Balisacan said developments in the global economy, such as Russia’s invasion of Ukraine, have had a global impact on prices.

“As a result, inflation has remained persistently high globally, driven by rapid price increases in food, transportation, and energy,” Balisacan said.

“The Philippines and our Asian neighbors are not spared from these trends—major economies in the ASEAN, such as Thailand, Singapore, Indonesia, and Malaysia, have seen their inflation rates accelerate in the past year,” he added.

Balisacan, however, noted that the country’s economic prospects “remain bright.”

Balisacan cited the World Bank’s recent release of its October forecast for 2022 and 2023, which expects the Philippines to grow by 6.5 percent in 2022, second only to Vietnam among major ASEAN economies, and by 5.8 percent in 2023, faster than Indonesia, Malaysia, and Thailand.

The Bangko Sentral ng Pilipinas said it could raise the benchmark interest rate by another 50 basis points in its next policy meeting to rein in inflation and support the peso from further depreciating against the US dollar.

DOH CONFIRMS CASES OF OMICRON XBB, XBC VARIANTS IN 11 REGIONS

The Philippines has detected the country’s first confirmed cases of the Omicron XBB subvariant and XBC variant of the coronavirus, the Department of Health (DOH) said Tuesday.

DOH officer-in-charge Maria Rosario Vergeire said some 81 cases of XBB were detected in two regions.

Of the figure, 70 have recovered and eight are still undergoing isolation while the status of the remaining three cases are still being verified.

The Omicron XBB subvariant is a recombinant of BJ.1 (BA.2.10.1 sublineage) and BM.1.1.1 (BA.2.75 sublineage).

It has been the primary cause of the new COVID-19 spikes in Singapore, the DOH said.

The Singaporean Ministry of Health said there is no sufficient evidence that the XBB causes more severe illness.

“So far, the large majority of patients continue to report mild symptoms such as sore throat or slight fever, especially if they have been vaccinated,” the DOH said in a statement.

The DOH said currently available evidence for XBB does not suggest any differences in disease severity or clinical manifestations compared to the original Omicron variant.

Meanwhile, some 193 cases of XBC were detected in 11 regions.

Of the figure, 176 have recovered, three are still undergoing isolation and five died while the outcomes of the remaining nine cases are still being verified.

The XBC variant is a recombinant of delta and BA.2 variants, the DOH said.

PINOYS URGED: GET BOOSTERS AMID XBB SUBVARIANT, XBC VARIANT THREAT

MANILA – Doctors on Wednesday called on the public anew to get their COVID-19 booster doses after the Department of Health (DOH) said they had detected the Philippines’ first confirmed cases of the Omicron XBB subvariant and XBC variant.

Philippine vaccine expert panel head Dr. Nina Gloriani called on the public to get the available vaccines now, instead of waiting for the “bivalent” jabs that target both the original strain and omicron subvariants of the virus.

“Doon sa booster, kung ano po ang meron tayo, wag nating hintayin yung tinatawag na bivalent. Kung dumating then fine, ano po, pero kung ano yung meron ngayon, importante na makapagbooster ang marami kasi nga nakakataas yun ng proteksyon natin, yung level ng protection, even against the variants,” Gloriani said.

The doctor said existing vaccines are also effective in protecting their recipients against a more severe form of COVID-19.

“Importante po na maiangat ulit natin yung level ng proteksyon natin, nakakatulong po yung booster. Talaga, makikita natin ang datos nito, hindi lang sa pagtaas nung ating mga antibodies, kundi yung T-cells na tinatawag natin na siyang mass effective against severe form, especially ng COVID.”

Infectious diseases expert Dr. Rontgene Solante also said that areas where the XBB subvariant and XBC variant were detected had low vaccination and booster rates.

The Omicron XBB subvariant has been driving up cases in Singapore. The city-state, however, has not seen an increase in hospitalizations so far, Solanted noted.

Still, he said, this is not a reason for Filipinos to be complacent.

Meanwhile, children ages 6 to 17 can now receive the COVID-19 vaccine produced by Chinese biopharmaceutical firm Sinovac, the Department of Health announced Tuesday.

According to DOH officer-in-charge Maria Rosario Vergeire, the agency has approved CoronaVac as primary series for 6 to 17-year-olds as an alternative for mRNA vaccines.

POGOS 'UNDERDECLARED' TAXES BY P1.9 BILLION: GATCHALIAN

Philippine Offshore Gaming Operators (POGOs) have “under-declared” their tax obligations to the government which, for this year alone, already runs to almost P2 billion, according to Senator Sherwin Gatchalian.

The tax leakage, according to Gatchalian, was uncovered when he conducted his own research based on the POGOs’ settled gross gaming revenues to the Bureau of Internal Revenues and the Philippine Amusement and Gaming Corporation (PAGCOR).

Gatchalian, chairman of the Senate ways and means committee, said the government should have collected more taxes and fees from legitimate POGOs.

From his own computation, legitimate POGOs have an estimated tax leakage of P1.9 billion, citing the discrepancy of gross gaming revenue reported by the BIR and PAGCOR from January to August 2023.

“It’s regrettable that even legitimate POGOS are remiss in the payment of correct taxes. This is exactly the reason a tax regime for POGOs was put in place which is to reduce uncollected taxes due to the government. It is lamentable that even licensed POGOs continue to disregard accurate payment of taxes,” Gatchalian said.

A statement released by Gatchalian’s office stated that “indicative gross gaming revenue from January to August this year, based on 5% gaming tax payments made to the BIR by POGO operators, totaled P28.36 billion. However, the 2% regulatory fee payments to PAGCOR show indicative gross gaming revenue for the same period at P66.67 billion. Furthermore, PAGCOR’s account receivables from POGOs over the same period were estimated at P2.3 billion.”

“Research shows that we are not realizing the full benefits of allowing POGO operations in the country. It’s high time we consider developing other industries that are sustainable, high-yielding, and long-term businesses,” he said.

Meanwhile, The deportation of Chinese nationals working in illegal online gaming outlets will start today, October 19, Justice Secretary Jesus Crispin Remulla said.

“The first deportation is set on October 19, with five or six to be initially deported,” Remulla said in a press conference.

He said some “400 more” Chinese POGO workers in custody will also be deported.

“The Bureau of Immigration already canceled the visas of many working at the illegal POGO outlets. The work is ongoing right now,” Remulla said.

'NENENG' INFRASTRUCTURE, AGRICULTURE DAMAGE HITS P447.5-M – NDRRMC

MANILA -- Damage to agriculture and infrastructure due to Typhoon Neneng has reached over P440 million, the National Disaster Risk Reduction and Management Council said Wednesday.

In its latest situational report, the NDRRMC said damage to agriculture was estimated at P366 million and affected more than 14,500 farmers and fishermen.

At least 19,000 hectares of agricultural land were affected by flooding in the Ilocos Region, Cagayan Valley and Cordillera Administrative Region.

Neneng’s damage to livestock, poultry and fisheries has reached P1.8 million, while damage to infrastructure was placed at P81.5 million. At least 34 public infrastructure were damaged, most of which are roads.

A total of 115 houses were also partially damaged and 51 were destroyed.

No fatalities and missing persons were reported, but two people sustained injuries during the onslaught of the typhoon.

The NDRRMC also reported that over 50,000 families, translating to 175,000 individuals, were affected by Neneng. Of this number, 163 families or 578 people are still staying in evacuation centers.

CAVITE LAWMAKERS, MAYORS BACK REMULLA AS SON FACES DRUG RAPS

MANILA, Philippines — Lawmakers and mayors of Cavite have issued a statement in support of Justice Secretary Jesus Crispin "Boying" Remulla — a former Cavite congressman and whose brother is provincial governor — who has batted away calls to resign after a son was arrested in an anti-drug operation this month.

The joint statement, signed on Monday, was signed by seven district representatives and a party-list representative and the mayors of Cavite's seven cities.

"While we clearly understand that as a good father, it is his moral and legal duty to ensure his son's right to due process, we likewise believe in his dedication and honesty as a public servant," they said, adding they admire President Ferdinand "Bongbong" Marcos Jr. for his objectivity in backing his appointee to the justice department.

Remulla said Monday morning that he will not heed calls for him to resign over potential conflict of interest in the case faced by his son Juanito III, who has been in charged in court for drug possession and is facing preliminary investigation for importation of illegal drugs.

Juanito III was arrested over 937 grams — the case filed in court lists 893.91 grams — of "kush" marijuana that had been consigned to him in a parcel from California in the US.

Remulla has promised not to intervene in the case and said that prosecutor's resolutions on the raps his son is facing will go straight to court and will no longer go through his office.

THE REST

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DEPED: MOTHER TONGUE STILL PART OF K-10

The Department of Education on Tuesday clarified the removal of Mother Tongue as a subject is not yet final after one of its officials announced the 50-minute subject will no longer be implemented in a bid to decongest the curriculum.

“The removal of the Mother Tongue as a subject is not yet final,” DepEd spokesman Michael Poa said, noting that the review of the curriculum for the Kinder to Grade 10 (K-10) program has yet to be finalized.

Poa issued the clarification after Education Undersecretary Epimaco Densing III said Monday there was already a consensus on the removal of the subject for Grades 1 to 3.

“We will continue using the mother tongue as a medium of instruction for students in Kindergarten to Grade 3. But we also agreed on something that can help decongest the curriculum… We all agreed in the curriculum and instruction division to do away with the 50 minutes of mother tongue as a subject,” Densing said.

Poa, however, said DepEd is still consulting with stakeholders, the academe, and other government agencies over the curriculum review.

“Our review is not yet over. Once we have the final curriculum, that’s when we will release an announcement about what will happen to the programs, not only Mother Tongue, but also in our learning competencies,” Poa said.

SC ORDERS BADOY TO COMMENT ON INDIRECT CONTEMPT PETITION

MANILA—The Supreme Court has ordered Lorraine Badoy to comment on an indirect contempt petition filed against her over her controversial Facebook posts against a judge.

In a Court en banc resolution publicly released on Tuesday, the high tribunal gave the former anti-insurgency task force spokesperson a "non-extendible period" of 15 days.

The resolution was dated Oct. 11, 2022.

Earlier this month, a group of lawyers and law school deans filed a petition before the Supreme Court seeking to cite Badoy for indirect contempt over statements she made against Manila RTC judge Marlo Magdoza-Malagar.

Badoy, also a former communications undersecretary during the Duterte administration, made several statements against Magdoza-Malagar after the latter's decision to junk the government’s petition to declare the Communist Party of the Philippines (CPP) and the New People’s Army (NPA) as terrorist organizations.

Badoy issued a hypothetical scenario of killing the judge out of her political belief.

Among the statements that she made over a series of Facebook posts that are the subject of the petition are the following:

accusing Judge Magdoza-Malagar of passionate lawyering for the CPP-NPA

calling her decision “shameless”, and the judge “unprincipled” and an “idiot”

accusing the judge of being a friend of the CPP-NPA-NDF with a “helmet as thick as the helmet of urban operatives of the CPP NPA NDF”

calling the judge a “traitor”

calling the decision a “judgement straight from the bowels of hell”

The 38-page petition asked the high court to declare Badoy guilty of indirect contempt, jailed for six months, and fined P30,000.

GLOBE, PARTNERS BRING SUBSEA CABLE PROJECT TO CEBU

MANILA - Globe Telecom, along with its partners Eastern Communications and InfiniVAN Inc, on Wednesday said they have brought the Philippine Domestic Submarine Cable Network (PDSCN) to Mactan Island in Cebu.

Fiber cables were deployed in Lapu-Lapu City in Mactan, Cebu as part of the country's longest submarine fiber cable network, Globe said in a statement.

Mactan is the 10th landing point of the subsea cable project, it added.

This will improve internet connectivity, voice and SMS service through fiber optic cable technology, the telco said.

 "Globe, in collaboration with like-minded organizations, is able to provide stronger connectivity services that can improve customer experience and contribute to the country’s digitalization,” Arlene Jallorina, Vice President for Strategic Infrastructure Investments for Globe Business, Enterprise Group.

Globe said the $150-million PDSCN, which covers a total cable distance of about 2,500 kilometers, aims to improve connectivity in the country and to bring fiber to unserved areas.

Other landing sites of the subsea cable are in Lucena City, Quezon, Boac, Marinduque, Calatrava, Romblon, Placer, Masbate, Iloilo City, Bacolod City, Roxas City, Siargao, Surigao del Norte, and Palompon, Leyte.

PALACE DECLARES OCTOBER 31 A HOLIDAY

President Ferdinand Marcos Jr. has declared October 31, 2022 as a special non-working holiday to allow Filipinos to spend more time with their families ahead of Undas as well as to promote local tourism.

“The President has already signed the proclamation, declaring October 31 as a special non-working holiday,” Office of the Press Secretary officer-in-charge Cheloy Garafil said in a Palace press briefing.

The signing of the presidential proclamation came ahead of the country’s annual commemoration of All Saints’ Day and All Souls’ Day on Nov. 1 and 2, respectively.

Nov. 1, which falls on a Tuesday this year, is a special non-working day. However, Nov. 2 was declared a special working day to help the country recover from the adverse economic impact of the COVID-19 pandemic.

For next year, President Marcos declared Nov. 1 and 2, 2023 as special non-working days.

Mr. Marcos declared Nov. 2, 2023 as an additional special non-working day to “strengthen family ties by providing more time for the traditional All Saints’ Day, All Souls’ Day activities, as well as promote domestic tourism.”

ENTERTAINMENT & LIFESTYLE

JINGGOY ESTRADA PLANNING TO BAN KOREAN DRAMAS, OTHER FOREIGN SHOWS TO BOOST FILIPINO SHOWS

MANILA, Philippines — To boost Filipino-made shows, Senator Jinggoy Estrada admitted that he is considering to make a proposal to ban Korean dramas and other foreign-made films and TV shows.

During yesterday's hearing for the 2023 budget of the Film Development Council of the Philippines (FDCP), Estrada said local actors are losing their jobs because Filipinos support Korean shows and actors.

“Ang aking obserbasyon 'pag patuloy tayo nagpapalabas ng Korean telenovela, ang hinahangaan ng ating mga kababayan ay itong mga Koreano at nawawalan ng trabaho at kita ‘yung ating mga artistang Pilipino,” Estrada said.

“Kaya minsan pumapasok sa aking isipan na i-ban na itong mga telenovela ng mga foreigner at dapat ang mga artista nating Pilipino, na talagang may angking galing sa pag-arte, ay 'yun naman dapat ang ipalabas natin sa sariling bansa natin,” he added.

For his part, FDCP Chairman Tirso Cruz III said his agency will push to support a lot of local films.

“Ang isa pong pangunahing programa namin ay talagang mag-focus sa paggawa ng mga local film muna dahil sabi namin ang unang-una importante ay ang maniwala ang kapwa Pilipino sa pelikulang Pilipino,” he said.

IN PH, PIA WURTZBACH IS BIGGEST INSTAGRAM EARNER IN 2021: STUDY

MANILA — Beauty queen-actress Pia Wurtzbach was the highest earning Instagram user from the Philippines in 2021, according to a study that factors in personalities’ following and sponsored posts.

The Miss Universe 2015 titlist is the lone Filipino celebrity included in the international list, titled “Which Celebrity Earns the Most from Instagram in The World,” released by NetCredit early this month.

According to the Chicago-based lender group came up with the list, Wurtzbach earned USD 3,669,205 or around P216 million through Instagram in 2021 alone.

Explaining its methodology, NetCredit said it first listed the most followed celebrities on Instagram from every country, then identified which of their posts from 2021 are ads or sponsored.

The group calculated the earnings by cross-referencing its list with figures from HopperHQ’s “Instagram Rich List,” which indicates the cost a celebrity could charge for an Instagram ad. In cases where the celebrity is not part of the “Rich List,” NetCredit used “Random Forest,” described as a statistical method that calculates the average cost per follower.

As the Philippines’ top Instagram earner, Wurtzbach is listed alongside international stars like the United States’ Ellen Degeneres (USD 33,723,706), Canada’s Justin Bieber (USD 4,427,738), the UK’s Dua Lipa (USD 13,046,529), Thailand’s Lisa of Blackpink (USD 8,760,460) and South Korea’s Jisoo also of Blackpink (USD 18,896,411).

Ranking first and second overall are football superstars: Portugal’s Cristiano Ronaldo (USD 85,217,365) and Argentina’s Lionel Messi (USD 71,963l449).

INDICATORS

FOREX $1 = P 58.75

THOUGHT FOR THE DAY

If you don't make things happen, then things will happen to you. - Robert Collier