INFLATION EASES AGAIN IN MAY, BOLSTERING CASE FOR RATE HIKE PAUSE

MANILA — Consumer price growth softened in May as the domestic economy swallowed the Bangko Sentral ng Pilipinas’ aggressive rate hikes, supporting the case for a longer pause in monetary action.

Inflation eased 6.1% year-on-year in May, slower than the 6.6% outturn recorded in the previous month, the Philippine Statistics Authority reported Tuesday.

Core inflation, computed without volatile items such as fuel prices, retreated slightly to 7.7% in May, softer compared to the 7.9% in the preceding month.

Price growth in May painted a picture of a domestic economy absorbing the impact of the BSP’s aggressive tightening, meant to arrest skyrocketing inflation, which began at the midpoint of 2022. Inflation began soaring last year as a result of supply chain bottlenecks, expensive fuel prices, a weak peso, and the Philippine economy’s full reopening which fueled consumer spending.

The central bank hopes inflation will hit its 2-4% target in 2023, as they expect price growth to slow further in September or October. Year-to-date, inflation averaged 7.5%.

To the BSP’s credit, monetary policy has done most of the work to lift the Philippines out of the inflation hole. The policy rate is now at 6.25%, after the central bank injected 425 basis points to tame painful price growth.

Nicholas Antonio Mapa, senior economist at ING Bank in Manila, remained wary of second-round effects but expects the headline rate will give the BSP more wiggle room.

Miguel Chanco, chief emerging Asia economist at Pantheon Macroeconomics, projected inflation to return to the BSP’s target range potentially as early as September.

“Our core view is that the Bank will roll back some of its aggressive rate cuts in Q4, by around 50bp in total initially, remaining on hold until then,” he said in an emailed commentary.

ISRAEL’S COHEN MARKS 65 YEARS OF TIES WITH PH

Israel Foreign Minister Eli Cohen on Monday inaugurated the expansion of its embassy in the Philippines as the two countries mark their 65th year of diplomatic relations.

The inauguration came after Cohen arrived in the country for his two-day visit, which included a series of bilateral meetings with his counterpart, Foreign Affairs Secretary Enrique Manalo.

“We’re thrilled to announce the expansion of our Embassy, reflecting the growing and flourishing relations between Israel and the Philippines,” the embassy said on Monday.

Cohen’s visit will boost the historically friendly relations between Israel and the Philippines spanning over six decades now.

The signing of various agreements, participation in meetings with the public and private sectors and boosting trade cooperation between the two nations are among the other expected activities of the Israeli official.

Cohen arrived in the Philippines on Sunday night to strengthen bilateral ties between the two countries, particularly in areas where Tel Aviv is an expert of, such as economy, agriculture, water, innovation, and technology.

The Israeli Embassy in the Philippines said Cohen is also expected to pay a courtesy call on President Ferdinand Marcos Jr. and conduct meetings with National Economic and Development Authority (NEDA) Director General Arsenio Molina Balisacan.

An Israel business delegation will join Cohen in some of his activities to connect with Filipino business companies, the embassy said.

Israeli Ambassador to the Philippines Ilan Flus said Cohen’s visit “reassures that Israel is a friend and an ally of the Philippines.

ONIONS GO STRAIGHT TO RETAILERS VIA GOV’T CONTRACT FARMING PROGRAM

The government has rolled out its contract farming program for agricultural products, in particular onions, to improve farmers’ access to markets and achieve fair prices for their produce.

The Farmer Retail Market program seeks to establish a direct linkage between onion farmers and institutional buyers by removing traders from the supply chain.

According to the Consumer Policy and Advocacy Bureau (CPAB), the program will provide a reliable supply of local onions, particularly during lean months.

The country’s big retailers — SM Supermarkets, Robinsons, and Puregold — agreed to take part in the program.

CPAB is also eyeing partnerships with the Hotel and Restaurants Association of the Philippines (HRAP), as well as with ALLDAY supermarkets.

In addition, Monde Nissin Corporation and Unilever Philippines Inc. also agreed to source shallots directly from the farmers for their seasoning products.

The Department of Trade and Industry intends to apply the same strategy to other agricultural products such as rice, garlic, corn, and sugar.

Through the Small Business Corporation (SB Corp.), the DTI also urged farmers to access the Diminishing Loan Assistance (DLA) to help agricultural producers gain access to financing.

DEFENSE, DOH CHIEFS NAMED

President Ferdinand Marcos Jr. on Monday appointed former Defense Secretary Gilbert Teodoro Jr. to his old position and Dr. Teodoro Herbosa as Health Secretary, filling two crucial Cabinet positions a year into his administration.

Photos released by Malacanang showed Mr. Marcos talking separately to Teodoro and Department of National Defense officer-in-charge Carlito Galvez, and with Herbosa and Department of Health OIC Dr. Ma. Rosario Vergeire.

Vergeire had said previously she was ready to become Health Secretary if the President wanted to, after initially saying she valued being a career official at DOH, where she was also an undersecretary during the past Duterte government.

UN RAPPORTEUR SEEKS SC APPROVAL AS ‘AMICUS CURIAE’ IN RESSA’S APPEAL

United Nations Special Rapporteur on the Promotion and Protection of the Right to Freedom of Opinion and Expression Irene Khan on Monday appealed to the Supreme Court (SC) to allow her to intervene as “amicus curiae” and to admit her amicus brief in the appeal of Rappler CEO and Nobel Laureate Maria Ressa on her conviction for cyberlibel by the Manila regional trial court.

In a motion for leave of court, Dean Rodel Taton of the Graduate School of Law San Sebastian College Recoletos-Manila, who is serving as Khan’s attorney-in-fact, stressed that while an amicus curiae or “friend of the court” is usually invited by the court to provide insights to a case, Khan hopes to be allowed by the magistrates to intervene as an expert in Ressa’s case.

“She just wanted to be allowed to appear as an amicus curiae and for her submission to be admitted by the court. She is seeking the court’s permission for this purpose,” Taton said, in an interview with reporters after he filed the motion.

Khan’s briefer said as an expert appointed by the UN Human Rights Council she has the mandate and task to gather relevant information in relation to alleged violations of right to freedom of opinion and expression.

According to her, she also has the authority and power to provide recommendations and suggestions to promote and protect the right to freedom of expression.

The briefer said that the UN rapporteur is concerned that domestic law “fails to adequately protect the right to freedom of opinion and expression under the International Covenant on Civil and Political Rights.”

Manila is among the signatories to the said international covenant.

INDEPENDENCE COMMEMORATIVE COINS UNVEILED

MANILA — The Philippines is now at the forefront of technological advancement, President Marcos said yesterday, even as he committed to invest in innovations to improve the country’s competitiveness.

Marcos made the remark during the launch and presentation of the 125th Anniversary of Philippine Independence and Nationhood (APIN) commemorative coin set at Malacañang.

“So we have used modern technology, which also signifies that the Philippines is at that stage in its development

that we are now at the forefront, and we’ll use the best technologies, the best techniques, everything that is good and new for our country. That’s what it means,” he said in a brief speech after receiving the commemorative coins from Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla.

“It just doesn’t mean that it is the 125th anniversary of the Independence Day, but it also reminds us how far we have gone and the significance of what we have achieved in 125 years,” the Chief Executive added.

Presented to Marcos were a P100 commemorative coin which depicts the proclamation of Philippine Independence on June 12, 1898; a P20 coin, which features the Barasoain Church, birthplace of the first Philippine Republic and a P5 coin, which pays tribute to Filipinos who fought during the Philippine-American War.

“But it is particularly significant when we do this via these coinages that have been created for the 125th Independence Day because in a very real sense, the establishment of a formal currency by any country is part of the definition of being a sovereign nation,” Marcos said.

“And that’s why we have to see it as not just a very nice souvenir, but really a commemoration of the creation of the Republic of the Philippines,” he added.

SUBMARINE CABLE WOES SLOW PLDT INTERNET SERVICES

PLDT Inc. on Monday said some of its customers experienced slower internet connection due to networks problem with one of its submarine cable partners.

“One of our submarine cable partners confirms a loss in some of its internet bandwidth capacity, thus causing slower internet browsing,” PLDT said in a statement.

The company did not disclose the identity of its submarine cable partner.

“We are now working with our partners to provide alternate capacity that would restore the browsing experience in the next few hours,” it added.

PLDT has a total of 3.97 million fixed line and fixed wireless broadband subscribers as of March this year.

As of end-March, PLDT had expanded its total fiber footprint to over 1.1 million kilometers, consisting of over 231,000 kilometers of international fiber and over 874,000 kilometers of domestic fiber.

Its fiber infrastructure also supports Smart’s 2G, 3G, 4G/LTE, and 5G network, which covers 97 percent of the country’s population.

US EMBASSY SHOWS PROGRESS PRIDE FLAG

Flag in hopes of raising awareness about the fight for equality of the LGBTQI+ community.

In a tweet, US Ambassador to the Philippines MaryKay Carlson posted a photo of the flag being raised on one of the buildings of the embassy.

“We at @USEmbassyPH are proud to display the Progress Pride Flag as a symbol of our steadfast support for the LGBTQI+ community. Together, we persist in the fight for equality and acceptance. #PrideMonth #WithPride,” she said.

Developed in 2018 by non-binary American artist and designer Daniel Quasar, the Progress Pride Flag was based on the iconic rainbow flag from 1978.

While the rainbow colors represent the LGBTQI+ community, the addition of the five new colors represents the further diversity of the community—black and brown for people of color, and pink, light blue and white to represent trans, gender non-binary, intersex, and those across the gender spectrum.

The US Embassy in Manila likewise posted on Facebook in support of the Pride Month.

“Today and every day, we support the LGBTQI+ community in the fight for justice and acceptance,” it said.

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MAKATI MEGA JOB FAIR OFFERS 7,400 OPENINGS

The Makati City government is set to hold a Mega Job Fair on June 8 at the Ayala Malls Circuit Activity Center where job-seekers can be hired on the spot.

The job fair, according to Mayor Abigail Binay, is in line with Makati’s 353rd Founding Anniversary celebration.

The Mega Job Fair from 9 a.m. to 3 p.m. will feature more than 7,400 job vacancies from 53 reputable companies across various industries to address unemployment concerns and support economic growth in the city.

“The Mega Job Fair is a collaborative effort between the city government of Makati and other sectors including the Department of Labor and Employment, Ayala Malls, and the participating companies. It is an excellent opportunity for job seekers to connect with potential employers, expand their professional networks, and take significant steps toward their career aspirations,” Binay said.

Applicants can explore various career options and connect directly with potential employers. The job vacancies encompass diverse fields, including finance, information technology, hospitality, retail, healthcare, customer service, engineering, etc. Job seekers of all skill levels and experience are encouraged to attend the event.

The participants are encouraged to pre-register in order to streamline the event and ensure a smooth experience for both job seekers and employers. To pre-register, they can visit the official registration page at https://bit.ly/mktmjf353rd.

DENR SAYS EPR LAW TO CUT SOLID WASTE IN PH

MANILA – The Department of Environment and Natural Resources (DENR) on Tuesday said it hopes the extended producer’s responsibility (EPR) law will help reduce the amount of solid waste in the country.

This, after the Commission on Audit (COA) recently said it observed a "steady increase" in solid waste generation in the country through the years.

Speaking on TeleRadyo, DENR Undersecretary Jonas Leones said both local government units and plastic producers have key roles to play in waste management in the country.

“Ang ating solid waste kasi, 2 yung entity na talagang ano dyan, nangunguna. Ang una yung mga local government units natin, under the Republic Act 9003, sila talaga ang pangunahing entity na dapat mag-address ng garbage problem,” he said.

“Pangalawa, itong mga industries natin. Meron tayong batas na yung EPR Law natin, kapapasa lang… ngayon, ang mga industries natin, yung producers na tinatawag natin, yung nag-ge-generate na industries ng plastics, sila na ngayon ang may obligasyon at may responsibility na i-recover itong mga plastic na na-generate nila,” he explained.

Leones said the DENR will continue to provide producers with technical assistance as they carry out their EPR program.

Solid waste generation steadily increased through the years, despite the passage in 2001 of Republic Act No. 9003 or the Ecological Solid Waste Management Act.

State auditors identified the "inconsistent implementation" of waste segregation and waste diversion, which led to an increase in waste production, adding that a "significant" presence of mixed wastes had been found in landfills.

PRIVATE ARMED GROUPS IN SIX REGIONS UNDER SURVEILLANCE AHEAD OF OCT. POLLS

Six regions with the reported presence of private armed groups and loose firearms will be monitored ahead of the 2023 Barangay and Sangguniang Kabataan Elections (BSKE) on Oct. 30.

Philippine National Police (PNP) chief Gen. Benjamin Acorda Jr. said told reporters during Monday’s press briefing held at Camp Crame said that “ahead of the October elections, PNP units in six regions of the country are continuously monitoring the activities of three active private armed groups, (PAGS) and 45 potential PAGs with an estimated more or less 200 members with almost 400 firearms that may be used for partisan activities in the 2023 BSKE.”

Acorda also said the PNP’s policing strategies have been adjusted to cope with the added requirements for a conducive peace and order environment that will guarantee secure, clean and fair elections in the country’s more than 42,000 barangays.

Acorda meanwhile said there is no serious threat in Negros Oriental amid a possible postponement of the BSKE in the province. He further said the PNP will only give “inputs” but the Commission on Elections (Comelec) will decide if the October polls in Negros Oriental will be moved.

LPA NOW INSIDE PAR; MAY DEVELOP INTO 'CHEDENG'

MANILA -- State weather bureau PAGASA is monitoring a low pressure area (LPA) that may further intensify inside the Philippine area of responsibility (PAR).

In its latest weather forecast, PAGASA said the LPA was last seen 970 km east of Eastern Visayas.

"Posible pong maging bagyo ito ngayong araw o bukas at tatawagin itong bagyong Chedeng," said ABS-CBN resident meteorologist Ariel Rojas.

The LPA has no impact yet on the weather in the Philippines today.

The southwest monsoon or habagat is expected to bring cloudy skies with scattered rainshowers and thunderstorms to Palawan.

Metro Manila and the rest of the country, meanwhile, will have partly cloudy to cloudy skies with isolated rainshowers or thunderstorms due to the habagat and localized thunderstorms.

ENTERTAINMENT & LIFESTYLE

JULIA BARRETTO REPLACES BEA ALONZO IN MOVIE WITH ALDEN RICHARDS

MANILA — Julia Barretto replaced Bea Alonzo in the upcoming Philippine adaptation of South Korean hit movie "A Moment To Remember" also starring Alden Richards.

In a recent interview with the media, Viva Inc. President and Chief Executive Officer Vincent del Rosario III confirmed the news.

“Dating Alden-Bea, tapos I think nag-issue naman ng statement kami and ang GMA na magpapahinga yata muna si Bea. So, si Julia na,” he said.

Del Rosario said that the film will have a title "Special Memory" and the production will start by the end of July or August.

He also said that Julia is excited to do the project with Alden.

“Well, excited siya, hindi lang dito pati ‘yung movie nila with Aga Muhlach na ‘Forgetting.’ Siyempre isa si Julia sa mga importanteng artista ng Viva so binibigyan siya ng magaganda and malalaking projects,” he said.

The Viva boss also said that Julia is aware that the project was offered to Bea. Julia and Bea had a controversy in the past because of Gerald Anderson.

“I think yes kasi na-promote na 'yan dati ‘di ba noong unang i-announce? She’s professional naman and nagustuhan niya ‘yung role,” he said.

Bea "respectfully beg off" from the movie because of schedule conflict.

SPORTS

PHILIPPINES DOMINATES MOBILE LEGENDS DEMO EVENT IN ASEAN PARA GAMES

MANILA, Philippines — Team Philippines pulled off a perfect run in the 12th ASEAN Paralympic Games Mobile Legends demonstration event at the NABA Theatre in Phnom Penh, Cambodia.

The Filipino squad, composed of Marvin Angelo Ignacio, Chester Gonzales, Joshua Detera, Jasper Lorenz Ambat, Ashly Paghubasan, with coaches Francis "Duckeyyy" Glindro and Vrendon "V" Pesebre — dominated the event from Day 1 with a three-match winning streak and without dropping a single game, ending the group stages in first place with nine points.

The momentum continued for the Philippines in their semifinals match against Thailand, who they defeated quickly in games under 11 minutes to reach the grand finals against Malaysia.

Though up against the second-seeded team after the group stages, the Philippines continued to showcase their strength in the esports title as Team Malaysia was unable to take control of the map. With the help of experience and expertise from team member Gonzales, a former Nexplay Esports player in MPL-PH Season 6, the Philippine team swept the Malaysians, 3-0, to rule the demo event.

The team won all its five matches (three in the group stage, two in the playoffs) via sweeps, not dropping a single game.

As it was a demo event, no medals will be given and it will not be included in the medal tally for the games.

INDICATORS

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THOUGHT FOR THE DAY

I do not like the phrase: Never cross a bridge till you come to it. The world is owned by men who cross bridges on their imaginations miles and miles in advance of the procession. - Bruce Barton