GOV'T URGED TO POSTPONE SOVEREIGN WEALTH FUND TO PROTECT CREDIT RATING

Manila - The Philippine government should consider holding off in launching a sovereign wealth fund to protect its credit rating amid the challenging global environment, a business group president said on Monday.

Lawmakers have filed a billing seeking to create the Maharlika Wealth Fund that will use funds from government agencies such as the Government Service Insurance System (GSIS) and the Social Security Service (SSS).

Although the fund has received the backing of Finance Chief Benjamin Diokno, analysts have said it could only be successful if managed well and free of corruption.

Philippine Chamber of Commerce and Industry President George Barcelon said this type of investment may cast doubts and affect the country's credit rating.

"My concern is, to put this on the back burner, in the meantime, because we don't want to go into something that might effect our credit standing," Barcelon said.

"Our credit standing, the foundation laid by the previous administration has been carried forward and I think that's important for us because with a good credit standing we do get preferential or lower rates of foreign banks. That, I think, is more important for us, to maintain a good credit rating, not putting something that might give worldwide bank to entertain doubts about whether this will really fly or not," he added.

Credit rating agencies Moody's Investor Service, S&P Global and Fitch Ratings have kept the country's standing despite the heavy borrowings during the COVID-19 pandemic while most countries suffered from downgrades in recent years.

This highlights the country's capacity to pay and its sound macroeconomic fundamentals, economic managers have said.

Barcelon also cited liquidity issues that may impact the funds of financial institutions whose funds will be used.

Other lawmakers also called for the inclusion of a penalty clause to make erring fund managers accountable.

BUREAU OF PLANT INDUSTRY TO DISPOSE SEIZED YELLOW ONIONS

The Bureau of Plant Industry reported they will dispose of the confiscated bags of yellow onions within the week.

“ASAP naman po iyan. At this point pwede na siya i-shred. i-dodocument lang po namin saka po siya i-shred or rekta namin [ibabaon],” Jose Diego E. Roxas, BPI officer-in-charge for Information and Computer Section said in a phone interview.

Roxas reiterated disposing of the yellow onions, which do not have phytosanitary permit, are not wasteful as they are a potential health risk.

BPI already took samples from the smuggled onions for testing.

“Kumuha na ng sample yung safety services division ng BPI and sa ngayon on-going pa po yung testing kung May kasamang contaminants yung sibuyas na naconfiscate,” he explained.

BPI along with Bureau of Customs, Department of Agriculture, Philippine National Police, and Coast Guard seized around 1,037 bags of yellow onions, Friday evening in Tondo, Manila.

BOC and PNP estimated the confiscated goods to be worth about P 1.9 million.

The market value of the onions, however, BPI says, is at about P 3.9 million.

“Yung estimate na 1.9 warehouse price. Samin kasi warehouse price plus palengke price. Yung pang hahawakan namin sa BPI, yung 3.9,” he reasoned.

Of the number, 944 bags were worth P 4000 each while 93 sacks were valued at P 1,800.

MARCOS LEADS NATIONWIDE GIFT-GIVING PROGRAM

MANILA — President Marcos led a nationwide gift-giving program and hosted a Christmas party for children yesterday at Malacañang, continuing a tradition observed during the time of his late father and namesake.

About 600 children from communities around the Malacañang complex in San Miguel, Manila were invited to the Kalayaan Grounds, which was transformed into a huge playground with inflatable slides, food booths and clowns.

Marcos and First Lady Liza Araneta-Marcos distributed backpacks with school supplies and toys to children during the event dubbed as “Balik Sigla, Bigay Saya: Nationwide Gift Giving.”

“Any Christmas won’t be complete without seeing the smiles of our children, our grandchildren, our young people. That’s why this is a very happy day for me because it has been a tradition here in the Palace. We would organize a children’s party during Christmas to ensure that all of our young people would have a Christmas,” the President said.

Marcos recalled joining other children in their games during the Christmas parties held under his father’s presidency.

At the event, he gamely kicked balls toward a dartboard and witnessed children jump to get prizes from the pabitin.

BILL SEEKS TO ENHANCE CONSUMER WELFARE PROTECTION

MANILA — As consumer spending accelerates ahead of Christmas and New Year festivities, there is an urgent need to amend the Consumer Act of the Philippines to strengthen the rights of consumers and enhance measures designed to protect them, Sen. Sherwin Gatchalian said yesterday.

Gatchalian earlier filed Senate Bill 942 or the proposed Enhanced Consumer Act, which seeks to amend the 30-year-old Republic Act 7394 to strengthen consumer rights and contribute to the improvement of commerce for the benefit of the economy.

“It is important that consumers are empowered to make well-informed decisions as they choose products and services for themselves and their loved ones as this will also empower legitimate enterprises to grow their businesses,” the senator said.

Among the amendments are requiring English or Filipino translation of product labels written in foreign characters or languages before they are allowed to enter the country. This would also enable authorities to determine whether the product has complied with all other labeling requirements and provide consumers with proper guidance on the contents and origin of the product.

The bill also seeks to expand authority to close down establishments caught in flagrante delicto selling substandard and hazardous products.

The measure provides for the adoption of policies that would take into account the eight basic consumer rights – the right to basic needs, right to choose, right to representation, right to redress, right to consumer education, right to safety, right to a healthy environment, and right to information.

HIGH APPROVAL, TRUST RATINGS FOR MARCOS, SARA

MANILA — President Marcos and Vice President Sara Duterte received high approval and trust ratings, according to a nationwide survey conducted by the RP-Mission and Development Foundation Inc. (RPMD).

According to the “Boses ng Bayan” survey conducted from Nov. 27 to Dec. 2, Marcos got approval and trust ratings of 83 percent and 87 percent, respectively.

Meanwhile, Duterte, who is also the secretary of the Department of Education (DepEd), received an 81-percent approval rating and an 87-percent trust rating.

The results are an average of the two officials’ high ratings throughout the country’s regions and across socioeconomic classes, the foundation said.

Marcos received the highest satisfaction ratings in Mindanao with 87 percent and his lowest was in Metro Manila at 73 percent.

The RPMD survey did not provide more details about Marcos’ poll ratings in Luzon or in his political bailiwick, the Ilocos region.

Meanwhile, Duterte got the highest satisfaction rating of 98 percent in Mindanao, her regional political stronghold, while her lowest satisfaction rating was in Luzon at 70 percent.

The nationwide survey has a margin of error of plus or minus one percent, and claims to be non-commissioned using face-to-face interviews with 5,000 adult respondents, according to RPMD’s official statement.

It disclosed limited details on the results of its survey unlike the Pulse Asia and Social Weather Stations polls, which have a track record for credible statistical data.

DOJ, PAO SETTLE CONFLICT OF INTEREST ON DENGVAXIA CASES

MANILA — The Department of Justice (DOJ) and Public Attorney’s Office (PAO) have agreed to rule out any conflict of interest in prosecuting the cases filed before the Quezon City regional trial court involving the deaths of several children after reportedly being vaccinated with Dengvaxia.

In a joint statement over the weekend, both the DOJ and PAO dismissed conflict of interest in the preliminary investigation on Dengvaxia deaths, saying they were “one in seeking justice.”

Earlier, PAO chief Persida Rueda-Acosta accused the DOJ National Prosecution Service of conflict of interest after Justice Undersecretary Jesse Hermogenes Andres, who used to represent former health secretary Janette Garin, was designated to supervise the NPS.

Garin was among the respondents in the Dengvaxia cases pending before the Quezon City Metropolitan Trial Court Branch 133.

“The DOJ reassures PAO, the parties to the Dengvaxia cases and the general public that there has never been and never will be any conflict of interest in the resolution of the cases,” the statement read.

Both offices also ruled out conflict of interest on appeals, which may be brought before the office of Justice Secretary Jesus Crispin Remulla.

Heeding the call of the families of the victims who raised concerns over conflict of interest in the cases, Acosta earlier asked the DOJ to withdraw from the prosecution panel and allow PAO lawyers to take over the prosecution of the complaints.

The DOJ rejected the call, saying what Acosta was demanding was contrary to law and outside the mandate of PAO.

“To be clear, the supervision of the prosecution of the criminal case rests with the DOJ panel and there is neither factual nor legal basis to replace the prosecutors or transfer the cases to the Quezon City Prosecutor’s Office,” the joint statement said.

“The DOJ and PAO will guard against being swayed by undue accusations coming from its clients. There is no place for undue influence coming from litigants in the legal process. Observance of this advice will further preserve the integrity of the resolution that will be issued by the DOJ panel,” it added.

The PAO represents relatives of children whose deaths were allegedly caused by the anti-dengue vaccine following the vaccination program using the Dengvaxia shots produced by French pharmaceutical company Sanofi Pasteur.

Cases that have been filed before the Quezon City regional trial court are being prosecuted by prosecutors from the NPS.

PNP DEPLOYS ‘SECRET COPS’ DURING CHRISTMAS SEASON

MANILA — With more people expected to be out on the streets during the Yuletide season, the Philippine National Police (PNP) has deployed intelligence operatives to protect the public in areas of convergence.

PNP spokesperson Col. Jean Fajardo said on Saturday secret operatives are constantly on the lookout for criminals who are planning to carry out their nefarious activities during the Christmas and New Year holidays.

“Aside from uniformed policemen, we also deployed secret cops – yung mga naka-civilian na mga intelligence operatives,” Fajardo said.

The PNP has deployed 6,000 tourism-oriented police officers in tourist destinations where people are expected to flock during the holiday season.

Fajardo said more police personnel would be fielded in shopping malls, markets, bazaars and other commercial establishments.

Starting Dec. 15, police officers would not be allowed to go on leave except for emergencies to sustain maximum police presence in public areas.

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CAAP: 42 AIRPORTS READY FOR HOLIDAYS

MANILA — The Civil Aviation Authority of the Philippines (CAAP) and its 42 commercial operating airports in the country are ready for the holiday rush, going on high alert in anticipation of the increase in passenger volume during the Christmas and New Year holidays.

CAAP spokesman Eric Apolonio said CAAP officials have coordinated with airline operators and concerned government agencies operating at the airports, including the Office of Transportation Security and the Philippine National Police - Aviation Security Group to add security personnel in anticipation of the expected surge in passenger traffic.

Aside from Ninoy Aquino International Airport, Clark International Airport, Davao International Airport and the Mactan-Cebu International Airport, added security measures and deployment of service and security personnel are being observed in CAAP airports with commercial flights to ensure safe, reliable and convenient airport operations as returning overseas Filipinos, civilians and tourists travel for the holiday season.

Due to travel bans imposed in the last two years brought by COVID-19, the CAAP-operated airports reported that it has seen trends of pent-up demand for tourism this year.

In 2019, CAAP airports welcomed a total 29,258,258 passengers, of whom 2,537,774 travelled during the month of December.

In 2020, a significant decrease was seen, as only 6,659,113 passengers travelled from January to December, with only 245,141 passengers travelling in December 2020.

Last year, passenger volume reached 1,007,842 in December, while 5,136,075 passengers were recorded through 2021.

So far this year, around 16 million passengers traveled in CAAP airports from January to October alone, and more are expected to travel during the holiday rush.

Based on pre-pandemic historical data, an estimated seven to 10 percent increase in the number of passengers is expected annually; and with the current easing of travel restrictions, CAAP is optimistically preparing for a surge in the demand for travel.

METEOR SHOWER SPARKLES SKIES FOR TWO WEEKS

Starting last night, Filipino stargazers began to have a skygazing delight in areas where there was no drizzle with the Geminid meteor shower kicking off its two-week show which will peak on December 14 – the first of two this December.

The Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said the Geminid meteor shower was expected to deliver 120 meteors per hour under clear sky conditions.

The Ursid meteor shower will chase the Geminid meteor shower from December 17 to 26. This can show around four meteors per hour when Ursa Minor is at its peak before dawn on December 23.

PAGASA said these showers would be visible to the naked eye. It is ideal to observe them in a remote and dark location away from the city lights and under clear sky conditions.

Weather experts say the best time to see anything in the night sky is when the sky is darkest and when the target is at its highest position in the sky. For meteor showers, this usually occurs between midnight and the very early hours of the morning.

“This (meteor shower) is produced by debris left behind by asteroid 3200 Phaethon,” PAGASA said. “Best time to observe is around 2 a.m. when its radiant, constellation Gemini, reaches its highest position in the sky.”

The Geminids are a prolific meteor shower caused by the object 3200 Phaethon, which is thought to be a Palladian asteroid with a “rock comet” orbit. This would make the Geminids, together with the Quadrantids, the only major meteor showers not originating from a comet.

The Geminid meteor shower, typically the strongest meteor shower of the year, is officially active in the night skies and producing shooting stars and fireballs.

“Meteor showers are observable through the naked eye, and no special equipment such as telescopes or binoculars is needed,” PAGASA said in its December Astrological Diary.

“Maximize the viewing experience by choosing a dark observation site away from the city lights under clear and moonless sky conditions,” it added.

OIL FIRMS TO CUT GASOLINE, KEROSENE, DIESEL PRICES ON DECEMBER 6

MANILA –– Oil firms on Monday announced another round of price rollback for gasoline, kerosene and diesel.

Adjustments will take effect on Dec. 6.

PILIPINAS SHELL

• Gasoline P1.95 per liter rollback

• Kerosene P1.65 per liter rollback

• Diesel P1.90 per liter rollback

PETROGAZZ

• Diesel P1.90 per liter rollback

• Gasoline P1.95 per liter rollback

SEAOIL

• Gasoline P1.95 per liter rollback

• Kerosene P1.65 per liter rollback

• Diesel P1.90 per liter rollback

ENTERTAINMENT & LIFESTYLE

MAXENE MAGALONA BREAKS SILENCE OVER NEIL ARCE, ANGEL LOCSIN 3RD PARTY ACCUSATIONS

MANILA — Actress Maxene Magalona broke her silence on being the alleged third party between celebrity couple Neil Arce and Angel Locsin.

In her recent interview with Toni Gonzaga, Maxene said she wasn't bothered when she heard the news.

“I live with integrity. And I speak my truth fearlessly because I know I am a woman of my word,” she said.

She also addressed whey she hasn't released a statement sooner.

“Because if I release a statement then the mga negative energy vampires will see na ‘Ay kaya natin siya',” she said.

Maxene also denied that she's pregnant with Neil's baby.

“I’m not. Sabi ko talaga, ‘Saan nanggaling to? Kailan nangyari to?’ 'Di ako na-inform,” she said.

Maxene told Toni that she is now ready to fall in love after her separation with husband Rob Mananquil.

“Of course! Ako, I’m never closing my doors to love. I love love. I really love love,” she said.

When asked if there are already suitors, the actress admitted she has been “speaking and forming connections.”

“And I want to really connect. I know, I’m 35 – I’m turning 36 in a few days – and I don’t want to parang let pain stop me from living my life the way I want to,” she said.

SUNSHINE DIZON OPENS UP ABOUT MENTAL HEALTH BATTLE

MANILA — Actress Sunshine Dizon on Saturday opened up about her mental health battles.

In an Instagram post, Dizon shared that she is currently diagnosed with post-traumatic stress disorder (PTSD), depression, panic attacks, and abandonment issues hoping that people would end the stigma of those who have mental health problems.

"And since I'm here alone feeling overwhelmed guess it's time to admit what I’ve been going through recently. Diagnosed with PTSD, depression, panic attacks, and abandonment issues and that's just skimming the surface," Dizon said in the caption.

"You may ask why now? Only because I want to free myself from the stigma. There’s nothing wrong to ask for help. I know it’s very hard to get stuck in your head. But we can do it, baby steps. One day at a time," she added.

Some celebrities showed their support for the actress after her post. "Ga, andito kami. Maraming nagmamahal sayo," Iza Calzado said.

"Always here for you sister," Karylle said. "Hi, Shine ... we’re here, love you and praying for you," Vina Morales added.

SPORTS

RAIN OR SHINE ELIMINATES NLEX, 110-100 (PBA) DECEMBER 4

Rain or Shine Elasto Painters eliminates NLEX Road Warriors, 110-100 to grab the last & final quarterfinal spot in the 2022-23 PBA Commissioner's Cup on Sunday, December 4 at the PhilSports Arena.

The Elasto Painters will now face the twice-to-beat Bay Area Dragons in the quarterfinals on Friday, December 9 at the PhilSports Arena.

The Scores:

RAIN OR SHINE 110 - Pearson 24, Caracut 19, Mamuyac 15, Nieto 12, Santillan 11, Borboran 10, Nambatac 10, Asistio 5, Norwood 3, Ponferada 1, Ildefonso 0, Torres 0.

NLEX 100 – Clark 37, Trollano 15, Alas 13, Chua 12, Ganuelas-Rosser 9, Nieto 6, Rosales 3, Miranda 3, Varilla 2.

Quarters: 31-27, 51-43, 80-75, 110-100

THOUGHT FOR THE DAY

Take action. Success is not guaranteed, but inaction will guarantee failure. - Ken Poirot