MIF GAINS 200 HOUSE BACKERS

MANILA — Despite stiff opposition from critics, the Maharlika Investment Fund has quickly garnered support in the House of Representatives, where it is chugging full-steam ahead towards approval.

As of 2:30 p.m. on Wednesday, Dec. 14, 2022, the bill seeking to create the sovereign wealth fund has gained 251 lawmakers as co-authors, which is already around 80% of the chamber’s members.

More House members have signalled their support for the measure, which President Ferdinand "Bongbong" Marcos Jr. admittedly broached, after the Social Security System and the Government Service Insurance System were removed as mandatory sources of seed money for Maharlika.

Still, House Speaker Martin Romualdez left it up to his cousin Marcos if he would certify the bill as urgent so the chamber can approve the bill on second and third reading on the same day.

House leaders hoped that they could pass the Maharlika fund bill before Congress goes on a break for the holidays, but lawmakers ended their last session before they went on vacation on Wednesday without approving the bill.

MEANWHILE, IMF, ADB FAVOR WEALTH FUND

The International Monetary Fund, the Asian Development Bank, and even the US-based think tank Milken Institute have recommended the creation of a sovereign wealth fund (SWF), Budget Secretary Amenah Pangandaman said Wednesday.

During the Kapihan sa Manila Bay forum, Pangandaman said the country’s two development partners and Milken Institute have endorsed the creation of the country’s own SWF.

The ADB also said on Wednesday that the establishment of a sovereign wealth fund would not only benefit the economy but could also deepen the domestic capital market.

Speaker Martin G. Romualdez said he would leave it to President Ferdinand Marcos Jr. if the bill creating the Maharlika Investment Fund (MIF) would be certified as urgent.

DND 'GREATLY CONCERNED' WITH REPORTED SWARMING OF CHINESE VESSELS IN WPS

MANILA — The Department of National Defense (DND) on Tuesday said it was greatly concerned on the reported swarming of Chinese vessels in parts of the West Philippine Sea (WPS).

In a statement, DND said Chinese vessels were sighted in Iroquois Reef and Sabina Shoal.

Despite the reported swarming, DND officer-in-charge Jose Faustino Jr. maintained that Philippine military forces would continue to conduct routine maritime and aerial patrols in the WPS.

Faustino added that while they remain open to dialogue, the information gathered in their patrols "are submitted to relevant authorities for appropriate action."

"We maintain that activities which violate our sovereignty, sovereign rights, and jurisdiction, and undermine the peace and stability of the region, are unacceptable," he said.

"The President’s directive to the Department is clear — we will not give up a single square inch of Philippine territory."

"The Philippines remains committed to maintaining a rules-based order in the West Philippine Sea and the larger South China Sea, and reserves the right to deal with any situation that violates or threatens our territorial integrity and sovereignty," the DND OIC added.

PBBM WANTS PH-EU FREE TRADE PACT PAST THE NEGOTIATION STAGE

President Ferdinand Marcos Jr. on Wednesday pitched a free trade agreement between the Philippines and the European Union to shore up economic recovery following the onslaught of the COVID-19 pandemic.

During his speech at the Commemorative Summit between the Association of Southeast Asian Nations and the European Union in Belgium, the President said he hopes to see the proposed PH-EU free trade agreement move beyond the negotiation stage.

“I look forward to closer economic cooperation both on our bilateral and bloc-to-bloc relations at this time of economic recovery from the ravages caused by the pandemic and the current threats on the supply chain,” Mr. Marcos said.

“I hope to see the proposed Philippine-EU free trade agreement move beyond scoping negotiations soon. With the entry into force of the Regional Comprehensive Economic Partnership (RCEP) among Asia-Pacific countries the European Union misses out on the benefit of having a similar agreement with ASEAN,” he said.

Meanwhile, the President secured various key investment pledges from European businesses in the renewable energy and infrastructure sectors, which are among the key administration’s prioritized agendas.

MARCOS SEEN TO VETO 2 TO 3 BUDGET ITEMS

President Ferdinand Marcos Jr. is expected to veto “two to three” items in the Congress-approved proposed P5.268-trillion national budget for 2023, Budget Secretary Amenah Pangandaman said Wednesday.

“I think we will have two vetoes, two to three direct vetoes, and all the rest are just conditional and general observations,” Pangandaman said during the Kapihan sa Manila Bay forum.

Early last week, the bicameral committee of Congress approved the 2023 budget bill.

“During the bicameral committee, while in the Senate, they removed it, but during the ratification, it was restored and all of these were in the NEP (National Expenditure Program) already,” Pangandaman said, referring to the items that are expected to be vetoed by the President.

The Department of Budget and Management chief, meanwhile, said the appropriations measure has roughly P70 billion worth of budget realignments.

“Upon our initial analysis and checking of the numbers, most of it went to our [priorities], like education, social assistance,” she said.

In Brussels, Speaker Martin Romualdez said the 2023 budget is expected to promote economic growth through spending.

“The President is poised to sign the biggest budget ever for the country and we are told by the economic managers that this will be immediately deployed,” Romualdez told reporters in Belgium yesterday.

In July, during the Post-State of the Nation Address (SONA) Economic Briefing in Pasay City, Pangandaman said the government’s top budget priorities are for education, health, social safety nets, infrastructure, and agriculture.

PHILIPPINES URGED TO ADDRESS EXODUS OF NURSES AS NZ OFFERS MEDICAL WORKERS RESIDENCY

MANILA — An organization of nurses called on the government to address the problem of migration of health workers following New Zealand's offer of residency to overseas nurses and midwives.

New Zealand Prime Minister Jacinda Ardern announced Monday that the government is offering healthcare workers from abroad an immediate pathway to residency as the country addresses an acute shortfall of medical staff.

In a statement Wednesday, the Filipino Nurses United said the offer of better job opportunities and higher pay of other countries have attracted massive migration of Filipino nurses.

“With the increasing economic crisis of the Filipino families, the offer of residency in a country such as New Zealand will be truly enticing and definitely an additional push factor for nurses to leave their local nursing jobs,” FNU said.

“Our country itself is in dire need of nursing and health services. Amidt the availability of nurses, our public health care system has not absorbed them so that it can respond to our people’s health needs,” it added.

MERALCO SIGNS EMERGENCY POWER DEAL AFTER SAN MIGUEL FALLOUT

MANILA — Following the fallout with a San Miguel Corp. power subsidiary, Manila Electric Co. signed an emergency power supply agreement (EPSA) with GNPower Dinginin Ltd. on Thursday.

In a statement, the Pangilinan-led power distributor said that the EPSA will cover a supply of 300 megawatts baseload capacity starting today until January 25, 2023.

“Meralco exhausts all measures to continue supplying its customers with sufficient and reliable power, while mitigating the impact of the TRO to its customers,” it said in a statement.

Meralco indicated that the EPSA will mitigate the company’s exposure to the volatility of the spot market and protect consumers from higher generation costs.

The EPSA has a rate of P5.96 per per kilowatt-hour.Meralco said this will cover some of the gaps left after the Court of Appeals slapped a TRO on its power supply agreement with San Miguel-backed South Premiere Power Corp.

Meralco is the country’s largest power distributor.

MARCOS APPOINTS TEOFILO GUADIZ AS NEW LTFRB CHAIRMAN

MANILA - President Ferdinand Marcos, Jr. has appointed former Land Transportation Office head Teofilo Guadiz, III as the new chairman of the Land Transportation Franchising and Regulatory Board (LTFRB), Malacañang announced on Wednesday.

Guadiz, whose appointment was dated Dec. 9, took his oath before Executive Secretary Lucas Bersamin Wednesday afternoon, based on information shared by his office.

Before being appointed as the LTFRB chief, Guadiz was an assistant secretary for the Department of Transportation's road sector.

In July this year, he was the head of the LTO. He was also the agency's Region 1 director.

When he was the LTO chief, Guadiz promised an agency that will focus on quick and affordable transactions for the motorists, as well as an iron hand to discipline corrupt employees.

He also believed that simplified transactions and the reduction of red tape would prevent corruption from flourishing in an agency.

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OVP PARTNERS WITH MORE HOSPITALS, DIALYSIS CENTERS

MANILA — The Office of Vice President Sara Duterte said yesterday it has partnered with 50 more hospitals and dialysis centers that can serve beneficiaries of its medical assistance program.

“In line with its objective to expand its service delivery network and to reach more beneficiaries, the OVP now has a total of 84 partners composed of public and private hospitals as well as dialysis centers nationwide,” the OVP said in a statement.

The Medical and Burial Assistance Program, the Office of the Vice President’s banner social services, along with pro-poor initiatives, has continuously been providing assistance to indigent Filipinos across the country.

Since the start of the Marcos administration, the OVP said its public assistance division has provided aid amounting to P179.6 million to over 20,000 beneficiaries.

Aside from its central office in Mandaluyong, in-patient and out-patient beneficiaries may also apply for medical assistance at various satellite offices set up by the OVP.

44 BIFF MEN SURRENDER IN NORTH COTABATO

ZAMBOANGA CITY — Forty-four members of the Bangsamoro Islamic Freedom Fighters (BIFF) have surrendered to the military in Kabacan, North Cotabato.

The surrender, which occurred last week, was made public only yesterday due to security concerns, according to acting Western Mindanao Command chief Brig. Gen. Arturo Rojas.

He said BIFF commander Esmael Aman and seven bomb experts were among those who yielded to 602nd Infantry Brigade (IB) acting commander Col. Donald Gumiran.

Rojas said the surrenderees turned over 34 assorted firearms and explosives.

During tactical debriefing, the former militants said they decided to surrender after seeing many of their former comrades now living peacefully with their loved ones in their respective communities.

Gumiran said soldiers belonging to the 90th Infantry Battalion, First Scout Ranger Battalion and 33rd IB facilitated the surrender.

He said local government officials also played a vital role in convincing the militants who were under the Karialan faction of the BIFF.

In Maguindanao del Norte, six BIFF men surrendered in Upi town on Tuesday.

Maj. Gen. Roy Galido, 6th Infantry Division commander, said the group also turned over their firearms upon the intercession of the 57th IB and local government officials.

More than 200 BIFF members have surrendered since January.

PNP: CRIME VOLUME DOWN 2.84%

MANILA — The crime volume in the country has dropped by nearly three percent, the Philippine National Police (PNP) reported yesterday.

PNP data showed that there were 36,806 focus crimes from Jan. 1 to Dec. 9 compared to 37,881 in 2021, a decrease of 2.84 percent.

Murder, homicide, physical injury, robbery, theft, vehicle theft, motorcycle theft and rape are focus crimes.

PNP chief Gen. Rodolfo Azurin Jr. said the Visayas registered the biggest drop in crimes at six percent followed by Mindanao, three percent, and Luzon, 1.24 percent.

Azurin said theft in public places is among the most common crimes.

“Pinag-iingat natin ang ating mga kababayan especially sa mga convergence areas,” he said in an interview with ABS-CBN’s Teleradyo.

The PNP will be on full alert at the start of the nine-day simbang gabi or dawn mass on Friday.

Personnel of the Special Action Force and Regional Mobile Force Battalions nationwide are also on full alert to thwart attacks by communist insurgents as the Communist Party of the Philippines will mark its anniversary on Dec. 26.

1,458 CENTRAL VISAYAS BARANGAYS STILL DRUG-AFFECTED

MANILA — Up to 1,458 or 48.55 percent of the 3,003 barangays in Central Visayas remain drug-affected.

Philippine Drug Enforcement Agency-Region 7 information officer Leia Albiar-Alcantara bared this during an online media forum on Tuesday, even as she stressed that PDEA is working hand-in-hand with the Philippine National Police to eradicate the drug problem in the region.

At least 1,429 barangays in Central Visayas had earlier been declared drug-cleared.

A total of 116 barangays are drug-free or had never been affected by drugs and with no presence of drug personalities or illegal drug activities.

Alcantara said drug-free and cleared barangays are being monitored to maintain their status.

Jonar Cuayzon, PDEA regional office intelligence chief, said Central Visayas is considered one of the major markets for illegal drugs in the country.

He said Cebu City is among the ”most problematic areas” since drug traders blend with the locals to keep their business.

Cuayzon also cited the city’s strategic location, which has contributed to it becoming one of the transshipment points for illegal drugs.

PDEA said illegal drugs valued at P1.3 billion have been confiscated in Central Visayas since January.

Last year, anti-narcotics agents seized P761 million worth of illegal drugs in 7,923 operations.

ENTERTAINMENT & LIFESTYLE

'OVERDUE NA': JERIC RAVAL BREAKS SILENCE OVER AJ RAVAL'S PREGNANCY ISSUE

MANILA — Action star Jeric Raval finally commented on the pregnancy issue that continues to hound his daughter, actress AJ Raval.

“’Yung mga naglabasang isyu dati kay AJ na… actually, matagal na ‘yun e. Nagtataka ako bakit hanggang ngayon hindi pa nanganganak… may buntis, ilang buwan na, overdue na," the '90s action star said as quoted in the column of Gorgy Rula for Pilipino Star Ngayon.

The entertainment press was able to get a reaction from him at the sidelines of the presscon for his and his daughter's upcoming horror film, "Pinoy Ghost Tale."

“Okay lang ‘yun, anak. At least napapag-usapan ka. Okay lang ‘yun. Masanay ka sa ganyan. Pasok sa kanang tenga, labas sa kaliwa. Okay lang ‘yan. Kasama ‘yan sa trabaho natin,” Raval shared.

He was asked if he gives advice for AJ and his son, JK, who is also in the movie.

Raval might be more tolerant of persistent showbiz issues as he considers these as part of the job, but he also asked for understanding and consideration for his daughter.

“Sa mga tao na hanggang ngayon ay pinag-usapan ‘yung isyu tungkol dun sa anak ko, sana po patahimikin na po natin. Kawawa naman po ‘yung bata. Tapusin na po natin ‘yung isyu," he said.

“Ako na po ang nagsasabi at ulitin ko. Ang isyu na ‘yun ay isyu lang ho ‘yun. Wala hong katotohanan lahat,” he added.

AJ has been the subject of a persistent rumor involving her and actor Aljur Abrenica where it alleged that she had gotten herself pregnant and has given birth to the baby of the married actor.

SOLENN HEUSSAFF GIVES BIRTH TO SECOND BABY

MANILA – Nico Bolzico announced on Wednesday that his wife Solenn Heussaff has given birth to their second child.

In a short Instagram clip, Bolzico said: “What a crazy day today! Argentina qualified to the finals of the World Cup with Messi playing a great game. And we just had a super healthy baby girl.”

In the first part of the video, Bolzico appears to be inside a hospital room wearing a hospital gown and scrub cap.

Being a joker that he is, Bolzico added later in the clip: “My daughter being born is one million times more important than the finals of the World Cup and it’s very unfortunate that I mentioned them both in my previous comment.”

Based on his caption, Bolzico and Heussaff already named their baby and her second name is Lionel, presumably after Argentine football great Lionel Messi.

However, he wouldn’t post any pictures of their newborn baby yet, saying she will let Heussaff introduce her later.

“Mama is healty and happy also,” he ended his post.

Aside from baby Lionel, Bolzico and Heussaff are also the parents of Thylane.

SPORTS

BAY AREA DEF. SAN MIGUEL, 103-102 DECEMBER 14 | PBA SEMIS GAME 1

Guest team Bay Area Dragons uses strong 4th quarter, 25-13, to escape past San Miguel Beermen, 103-102 in Game 1 of their best-of-5 semifinal series in the 2022-23 PBA Commissioner's Cup on Wednesday, December 14 at the PhilSports Arena.

Andrew Nicholson led Bay Area with a double-double of 30 points (12/20fg, 4/9 3pts, 2/5ft) along with game-high 15 rebounds, 3 assists, 1 steal and 2 blocks as the Dragons fought back from 16 points down.

Zhu Songwei with a solid 19 points, 1 rebound and 7 assists while Hayden Blankley added a near double-double of 15 points, 9 rebounds, 2 assists, 1 steal and 2 blocks.

Semis Game 2 is on Friday, December 16 at 5:45pm.

The Scores:

BAY AREA 103 - Nicholson 30, Zhu 19, Blankley 15, Ju 13, Lam 12, Yang 9, Liu 5, Song 0, Reid 0.

SAN MIGUEL 102 – Perez 24, Romeo 21, Lassiter 16, Fajardo 11, Cruz 11, Scott 9, Enciso 8, Ross 2, Brondial 0.

Quarters: 23-31, 51-59, 78-89, 103-102.

GINEBRA DEF. MAGNOLIA, 87-84 DECEMBER 14 | PBA SEMIS GAME 1

Barangay Ginebra escapes past rival Magnolia Timplados Hotshots, 87-84 in 'Manila Clasico' Game 1 of their best-of-5 semifinal series in the 2022-23 PBA Commissioner's Cup on Wednesday, December 14 at the PhilSports Arena.

Jamie Malonzo led the Gin Kings with a double-double performance of 21 points (6/14fg, 2/7 3pts, 7/7ft) along with 12 rebounds, 1 assist and 3 steals. Scottie Thompson with a solid game of 16 points , 7 rebounds, 6 assists and a block while Christian Standhardinger added 14 points (5/8fg, 4/10ft), 6 rebounds and 1 assist.

The Hotshots was forced to play without import Nick Rakocevic with still 6:31 left in the third quarter after incurring a second technical foul.

The Scores:

GINEBRA 87 - Malonzo 21, Thompson 16, Standhardinger 14, Brownlee 11, Pringle 8, Tenorio 6, J. Aguilar 6, Gray 3, Mariano 2.

MAGNOLIA 84 – Lee 21, Dionisio 12, Rakocevic 10, Sangalang 10, Abueva 10, Dela Rosa 7, Jalalon 6, Barroca 4, Corpuz 4, Reavis 0, Wong 0, Laput 0, Mendoza 0.

Quarters: 24-22, 45-44, 70-67, 87-84.

INDICATORS

FOREX $1 = P 55.74

THOUGHT FOR THE DAY

Medicine, law, business, engineering - these are noble pursuits and necessary to sustain life. But poetry, beauty, romance, love - these are what we stay alive for. - Dead Poet's Society