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Philippine, Thai central banks seek to strengthen cooperation

THE BANGKO SENTRAL ng Pilipinas (BSP) and Bank of Thailand (BoT) are working to explore potential areas of cooperation.

BSP Governor Eli M. Remolona met with BoT Governor Sethaput Suthiwartnarueput on Monday during a high-level bilateral meeting to “exchange views and strengthen cooperation on various areas of central banking.”

“Issues discussed include the role of central banks in the development of the capital market, its drivers and challenges; approaches in digital payments, and measures for fraud prevention and consumer protection; and AI (artificial intelligence) use cases in monetary policy, along with measures in mitigating potential risks,” the BSP said in a statement on Tuesday.

The central banks are also looking into joint initiatives such as study visits and webinars, it said.

In August, the BSP and National Bank of Cambodia signed a memorandum of understanding to boost both countries’ cooperation on central banking and payment connectivity. — Luisa Maria Jacinta C. Jocson

PHL faces China’s water cannons anew ahead of Marcos’ ASEAN engagements

PRESIDENT FERDINAND R. MARCOS, JR. — PHILIPPINE STAR/KJ ROSALES

THE PHILIPPINES will promote a rules-based order amid intrusions into its exclusive economic zone (EEZ) in the South China Sea during the summit of Southeast Asian leaders in Laos this week, its leader said on Tuesday just as China fired water cannons at Philippine fishery bureau ships.

President Ferdinand R. Marcos, Jr. said his country continues to grapple with the “sharpening regional tensions,” citing “recent dangerous incidents” within the Philippine EEZ.   

“I intend to champion our advocacies in promoting an open, inclusive, and rules-based international order, he said in a speech before flying to Laos for the 44th and 45th summits of the Association of Southeast Nations (ASEAN).

Manila would continue to push for the “peaceful resolution of any disputes in accordance with international law,” he added.

Before flying to Laos, the Philippine Navy confirmed reports that Chinese vessels fired water cannons at two ships of the Bureau of Fisheries and Aquatic Resources (BFAR) delivering supplies for Filipino fishermen in Scarborough Shoal, which Manila calls Bajo de Masinloc.

“The CCG vessels attempted to impede the mission of the BFAR vessels but were unsuccessful,” BFAR said in a statement.

They “opened and directed their water cannons, but this failed to reach the Philippine civilian boats,” the agency added.

“Notwithstanding the dangerous maneuvers and opening of water cannons, both BFAR vessels were able to resupply the Filipino fisherfolk in the vicinity of Bajo de Masinloc.”

A 2016 arbitral ruling that invalidated China’s expansive claims in the South China Sea said the shoal is a traditional fishing ground for Filipino, Chinese, and Vietnamese fishermen. China has effectively controlled the shoal since 2012.

BFAR said its vessels were able to supply Filipino mother boats and 16 small fishing boats.

The Philippine agency said it will not be deterred from patrolling all Philippine maritime zones and providing support to Filipino fisherfolk “pursuant to its mandate of enforcing all laws and rules and regulations in the management and conservation of fishery resources.”

SUMMIT AGENDA
Aside from the South China Sea disputes, Mr. Marcos said ASEAN leaders were also expected to put focus on the situation in junta-led Myanmar, Russia’s war in Ukraine, and conflicts in the Middle East.

He said the Philippine government was working for the safety — and repatriation — of over 40,000 Filipinos in Lebanon and in Israel.

His government has recently taken a clearer stance on the conflict in Gaza, one of the two territories occupied by Palestinians — the other being the West Bank — that the Israeli government has been trying to invade for years.

Last month, the Philippines joined 123 other countries in favoring a United Nations resolution urging Israel to end its occupation of Palestinian territories within a year.

Tensions in the Middle East continue to escalate following Israel’s bombardment of Gaza in response to missile attacks by the militant group Hamas on Oct. 7 last year.

Israel launched a ground operation into southern Lebanon last week, as it vowed to conduct raids against “Hezbollah terror targets” that it said were “immediate threat” to northern Israeli communities.

“I am glad to report that no Filipino has been reported injured in the crisis that we hear about in the news,” Mr. Marcos said, referring to the “wave of attacks against Hezbollah targets in the past few days, and the consequent Iranian reprisal against Israel.”

The tension is the latest in a spate of cross-border hostilities following Israel’s bombardment of Gaza.

“The Philippines urges all parties to refrain from escalating the violence and to work towards a peaceful resolution of the conflict,” said Mr. Marcos, whose country eyes a nonpermanent seat at the UN Security Council.

He said Philippine embassies have been working on securing exit papers and transportation for Filipinos who want to return to their country.

“Of the 1,500 initial applicants for repatriation from Lebanon, a third have already gone home, while another third, around 500, are still having their papers processed,” he said.

The Philippine foreign affairs “will expedite” the repatriation process, he added. The migrant workers department “will be chartering the flights to bring them home.”

For this month, the two agencies target to repatriate at least 162 overseas Filipino workers from Israel, Mr. Marcos noted. 

At the weekend, Foreign Affairs Undersecretary Eduardo Jose A. de Vega said more than 100 Filipinos were set to be repatriated from Lebanon in batches from Oct. 11 to 28 amid Israeli bombardments.

The list includes 15 Filipinos whose repatriation scheduled for Sept. 26 did not push through due to postponement of commercial flights.

The agency earlier said the Philippines was having a hard time securing landing rights for chartered flights.

Meanwhile, Mr. Marcos said he will be participating in meetings with ASEAN’s external partners, to “advance cooperation” in areas such as food and energy security, trade and investment, supply chain resilience, and the climate agenda.

The Philippine leader has increasingly pushed for the integration of his country into the regional and global stages, pursuing multilateral economic and security deals including the ASEAN-dominated Regional Comprehensive Economic Partnership (RCEP).

A day before flying to Laos, Mr. Marcos met with South Korean President Yoon Suk Yeol at the presidential palace in Manila as the latter held a two-day Philippine visit, the first leg of his three-nation Southeast Asian trip. He also attended a forum organized by Philippine and Korean businesses later in the day, touting some of the liberal economic reforms in the country including Singapore-inspired law that significantly cut corporate income tax. His administration pushes for the revision of the bill to further lower the CIT and simplify the process for tax deductions. — Kyle Aristophere T. Atienza

Marcos signs law to strengthen Philippines’ defense posture

PHILIPPINE STAR/EDD GUMBAN

By Kyle Aristophere T. Atienza and John Victor D. Ordoñez, Reporters

PRESIDENT Ferdinand R. Marcos, Jr. on Tuesday signed into law a bill requiring the Philippine government to pursue a defense posture reliant on local manufacturers. 

This followed the start of the Philippines’ two-week joint military exercises with the United States and four other countries, which an analyst said, builds the country’s capacity to defend itself.

The Self-Reliant Defense Posture Revitalization Act, which goes into the books as Republic Act (RA) No. 12024, seeks to boost local production of defense equipment. It will enable the Philippines to develop technologies to counter “unconventional threats,” he said in a speech at a signing ceremony at the presidential palace in Manila.   

He cited cybersecurity breaches, chemical attacks, and radiological threats as “pressing realities.”

“With this, we are broadening our perspective on defense. We are not just looking at tanks and rifles,” Mr. Marcos said. “We are building capacities that address these unconventional dangers head-on.” 

He called for systems and strategies that are “reactive and predictive, allowing us to stay a step ahead of those who wish harm to the Philippines.”

The law tasked the Department of National Defense with formulating and implementing a Self-Reliant Defense Posture Program for the short-, medium-, and long-term needs of the defense sector.   

It seeks to give preference to Filipino-owned enterprises in terms of the development, servicing, and operation of defense material in the country. These include military technology, arms and ammunition, combat training, weapon systems, and armor.   

The new law complements the military’s Comprehensive Archipelagic Defense Concept, which seeks to ensure the country’s maritime zones amid Chinese aggression at sea.

Bills seeking to define and declare the Philippines’ maritime zones and establish sea lanes are now up for Mr. Marcos’ signature.

“The passage and signing of this law send a strong message that we are serious about protecting our sovereignty and securing our future,” House Speaker Martin G. Romualdez said in a statement. 

The revitalization of the local defense industry will contribute to economic growth by creating jobs, advancing technological innovation, and “fostering a culture of self-reliance within the defense sector.”

This law will not only strengthen our security but also open up opportunities for our industries to grow and innovate,” he said.

Joshua Bernard B. Espeña, vice-president at the Manila-based International Development and Security Cooperation, said it’s timely for the Philippines to create an ecology of indigenous defense systems “against the backdrop of increasing insecurity of Philippine sovereignty across kinetic and cyber domains.”   

“While it is apt to import sources of defense materiel, it is also timely to create an ecology of indigenous defense systems for Manila to supply the necessary ‘mass’ of capabilities needed for conventional, yet asymmetric, warfare scenarios,” he said in a Facebook Messenger chat.

“The country has a lot of natural resources to offer such as rubber, tin, timberwood, precious metals, and rare earth materials across the archipelago to create, assemble, repair, and sustain capabilities like drones, trucks, munitions, and corvettes,” he said.

To harness the law’s potential, Mr. Espeña said the Philippine government needs to help local manufacturers be on par with institutions aligned to the North Atlantic Treaty Organization (NATO), a military alliance of over 30 states.

NATO’s defense technology accelerator DIANA last month chose 10 companies to transition to the second phase of its innovation program that brings funding and tailored support for creators of disruptive and emerging technologies responsive to the needs of defense markets.

“In the long run, the future is not just to supply the country’s security sector but also to export these products to the larger globalized defense industry, whose logic is not friendly to those unwilling to export and compete,” Mr. Espeña said.

JOINT DRILLS
The signing of the law comes as US Navy, marines and their Filipino counterparts on Monday kicked off their two-week joint military exercises in Subic Bay aimed to boost interoperability between military forces, the US Defense department said on Tuesday.

“What began as a bilateral event between the United States and the Philippines has grown into a multilateral and multiplatform operation, bringing together like-minded partners from across the Indo-Pacific,” US Rear Admiral Todd Cimicata said in a statement, published by the agency’s Defense Visual Information Distribution Service (DVIDS), on Tuesday.

He said the Sama Sama exercises, which translates to togetherness in Filipino, is crucial to upholding the commitment to peace, security and cooperation in the maritime domain.

The navy and marine forces will conduct high intensity drills focusing on anti-submarine, anti-air and anti-surface warfare, along with the use of maritime surveillance aircraft, according to DVIDS.

This year’s drills will also include participation from military and navy personnel from Australia, Japan, Canada, France, and Japan, it added.

“This exercise is a powerful investment for our collective movement and an opportunity to address regional challenges together,” Philippine Rear Admiral Jose Ma. A. Ezpeleta was also quoted as saying.

Vessels participating in the drills include the US Navy’s Arleigh Burke-class guided-missile destroyer USS Howard DDG 83 and a P-8A Poseidon maritime surveillance aircraft.

The US Marine Corps’ Marine Rotational Force – Southeast Asia (MRF-SEA), which is starting its six-month stint in the Southeast Asian region, will also participate in the exercises.

CAPACITY BUILDING
Raymond M. Powell, a fellow at Stanford University’s Gordian Knot Center for National Security Innovation, said the joint exercises demonstrate viable long-term and short-term capacity building for the Philippine military with its allies in Washington.

“In the short term, they demonstrate that there is a vibrant alliance with the US, which deters direct military aggression against Philippine forces. In the longer term they build Philippine capacity to act in its own defense,” he told BusinessWorld in an X message.

Tensions between the Philippines and China have worsened in the past year as Beijing continues to block resupply missions to Second Thomas Shoal, where Manila has a handful of troops stationed at a beached vessel.

Washington had left its Typhon missile system in the Philippines after joint exercises in April amid Chinese demands to withdraw it from the Southeast Asian nation. The US does not plan to pull it out and is studying its use in a regional conflict, Reuters earlier reported.

China and Russia have criticized the move, saying it could fuel an arms race in the region.

“The problem right now is that Beijing believes it has established clear precedent for certain kinds of aggression that do not draw a sufficiently negative response,” Mr. Powell said.

Philippine Foreign Affairs Secretary Enrique A. Manalo has said Manila does not want to gang up on Beijing with the international community as it considers bringing up its dispute with China before the United Nations General Assembly (UNGA).

Senators have been pushing for the Philippine Foreign Affairs Department to file a resolution with the UN body condemning China’s aggression in the South China Sea.

“The legal card has its value, but the country should not overly focus on it. The debacle in enforcing the 2016 arbitration award is instructive,” Lucio B. Pitlo III, a research fellow at the Asia-Pathways to Progress Foundation, said in a Facebook Messenger chat.

“A judicious mix of defense, diplomatic tools, informational and economic tools should be pursued.”

Manila also eyes raising its dispute with China with the Association of Southeast Asian Nations (ASEAN) when it heads the regional body in 2027, Mr. Manalo earlier told senators.

The ASEAN and China have been in talks as far back as 2002 to craft a code of conduct in the South China Sea.

In 2016, a United Nations-backed tribunal based in the Hague voided China’s claim to more than 80% of the South China Sea for being illegal.

The Philippines has been unable to enforce the ruling and has since filed hundreds of protests over what it calls encroachment and harassment by China’s coast guard and its vast fishing fleet.

“Through exercises like Sama Sama, we continue to improve our interoperability and our readiness while deepening our understanding of each other’s capabilities,” Mr. Cimicata said.

Senate at a ‘new low’ as candidacy filing period ends

BW FILE PHOTO

By Kyle Aristophere T. Atienza, Reporter

THE FILING of candidacies for the 2025 midterm elections has shown that Philippine dynastic politicians have become more brazen decades after the restoration of formal democracy in 1986, with the Senate experiencing a “new low” as it’s dragged into sibling politics.

“We have seen more and more dynasty members filing their certificates of candidacy, as if they are entitled to it. They are more brazen than before,” Arjan P. Aguirre, who teaches political science at Ateneo de Manila University, said in a Facebook Messenger chat on Tuesday.

He said this year’s filing of candidacies has also shown that the party-list system is being hijacked by wealthy people, turning it into a “popularity contest for celebrities” and “a new enterprise for business people.”

The period for the filing of candidacy papers ended on Tuesday. As of Monday, 127 people were seeking a seat at the Senate, including two brothers of Senator Rafael “Raffy” T. Tulfo, a sister of Senator Alan Peter C. Cayetano, and the sister of Senator Mark A. Villar, whose term-limited mother is seeking a mayoralty post.

“In the Senate, we are witnessing a new low with the possibility of having three siblings in the 24-seat chamber, another family member replacing the term-limited mother, a sister who plans to stay with a brother, a sister replacing an outgoing sister, and a sister of the sitting president wanting to get re-elected,” Mr. Aguirre said.

“Should they win, we will have a total of nine senators who are siblings — three Tulfos, two Cayetanos, two Villars and two Ejercito-Estrada,” he explained. “They will join other members of the Senate who are also members of dynasties.”

DECLINING INDEPENDENCE
Since the Senate is increasingly becoming a hub for dynastic politicians, its level of independence is declining, said Hansley A. Juliano, who teaches political science at the Ateneo de Manila.

“It means there’s not much radical progress to be expected on policymaking, its level of independence is not always guaranteed,” he said via Messenger chat.

Mr. Juliano said at the national and local levels, many established dynasties are just being challenged and replaced by “either scions of dynasties and established families as well.”

In Batangas province, the seventh most vote-rich province in 2022, former lawmaker Vilma Santos-Recto, wife of Finance Secretary Ralph G. Recto, is running for the gubernatorial post with his son Luis, who is a television actor, as her running mate.

Her youngest son Ryan is running for representative of the province’s sixth district.

About 40 kilometers south of Batangas, a similar situation is seen: Incumbent Oriental Mindoro Govenor Humerlito “Bonz” Dolor is running for his last reelection with his brother, Provincial Administrator Hubert A. Dolor, as his running mate.

In Pampanga province north of the capital Manila, dynastic politics also thrives: Governor Dennis “Delta” G. Pineda seeks to take the position of her mother Vice Governor Lilia “Nanay” G. Pineda, who is running for the gubernatorial post.

In Davao City in southern Philippines, former president Rodrigo R. Duterte is running for mayor alongside his son, incumbent Mayor Sebastian “Baste” Z. Duterte.

The strongman politician’s oldest son, Davao Rep. Paolo Z. Duterte, seeks another reelection. All the while, her sister Vice-President Sara Z. Duterte-Carpio has refused to participate in House hearings amid questions on her office’s previous and proposed budgets.

“There’s not much new to say about the local polls especially since small or thin dynasties continue to be normalized and accepted — there seems to be zero barriers to whole nuclear political families becoming involved in the polls,” Mr. Juliano said.

“While there are definitely brazen families, we cannot really expect much when there’s no money or resources going around for potential opposition candidates.”

“If we want a serious shift in local elections, there really needs to be a conversation on serious and smart campaign financing for the opposition,” the academic said.

Meanwhile, De La Salle University political science professor Anthony Lawrence Borja said that while there are more old names trying to return to power, there are new entries from opposition groups including the senatoriables of left-leaning Koalisyong Makabayan.

“As of now, it appears that for the legislative race, it is more diverse or even polarized in terms of candidates’ backgrounds,” he said via Messenger chat.

“On one hand, we have new entries from the Makabayan bloc, other progressive candidates, and well-meaning celebrities,” he added. “On the other, we have a lot of old names trying to return to power, climb-up the greasy pole, or perpetuate their respective dynasties or factional blocs.”

Makabayan has already fielded 11 candidates for the Senate representing various sectors including fisherfolk, farmers, women, teachers, and the urban poor.

Two labor leaders under Partido Lakas ng Masa, another opposition group, are also seeking a Senate seat.

Meanwhile, opposition personalities Paolo Benigno “Bam” Aguirre Aquino IV and Francis Pancratius “Kiko” Nepomuceno Pangilinan are seeking to return to the Senate. Senator Ana Theresia “Risa” Hontiveros-Baraquel told One News’ The Big Story on Monday that she will campaign Mr. Aquino and Mr. Pangilinan and should they win, they would join the Senate minority.

The Senate minority is currently composed of Ms. Hontiveros and Senator Aquilino Martin de la Llana Pimentel III, who is running for congressman of Marikina City.

Mr. Borja said the civil society and the rest of the public need to “keep an eye” on the implementation of nuisance candidate provisions and developments in coalition-building efforts ahead of the elections.

Independent or non-aligned candidacies — genuine or not — may also thrive in next year’s elections, he said.

LAST DAY
Mr. Pangilinan filed his Certificate of Candidacy (CoC) to run for the Senate on the last day of registration on Tuesday. He ran as Vice President in 2022, but lost to Ms. Duterte. He aso previously served as a Senator from 2001 to 2013, and from 2016 to 2022.

A staunch advocate of agriculture, he said he aims to replicate his contribution under the second Aquino administration which brought down rice inflation to 8% from 15% within a year in 2014.

“I want to return again to solve the grievances of our countrymen,” he said in Filipino after filing his CoC at the Manila Hotel. “We are willing to put politics aside to help the government because hunger has no color.”

Also among those who filed for a senatorial seat is indicted televangelist Apollo C. Quiboloy, whose CoC was received by the Commission on Elections (Comelec) through an authorized representative.

The self-appointed son of God is facing charges of child abuse and human trafficking before the Davao City and Pasig City courts, respectively.

He is also facing several criminal charges in the United States, including conspiracy to engage in sex trafficking by force, fraud, and coercion; sex trafficking of children; sex trafficking by force, fraud, and coercion, conspiracy, and bulk cash smuggling.

Last month, he “surrendered” to the National Police after a weeks-long manhunt.

Meanwhile, former Manila City Mayor Francisco “Isko” M. Domagoso aims for a city hall comeback after failing to secure the presidential post in 2022.

As of writing, a total of 127 Senate hopefuls have registered and 137 as party-list representatives.

The Philippines will hold midterm elections next year. Filipinos will elect their congressmen, mayors, vice mayors, and members of city councils on May 12, 2025. Twelve of the 24-member Senate will also be replaced. — with Chloe Mari A. Hufana

Filipino executed in Saudi Arabia for murder

OFFICIALGAZETTE.GOV.PH

A FILIPINO in Saudia Arabia has been executed at the weekend for killing a Saudi national, according to the Philippine Department of Foreign Affairs (DFA).

“The Philippine government provided legal assistance and exhausted all possible remedies, including a presidential letter of appeal,” DFA spokesperson Ma. Teresita C. Daza told reporters in a WhatsApp message on Tuesday.

She said the victim’s family refused to accept “blood money” to pardon the Filipino.

The DFA official also said the state will not reveal the name of the Filipino upon the request of his family.

The agency said last year that 81 Filipino workers abroad have pending cases that are punishable by death.

It secured 354 pardons from 2018 to 2022, with most cases filed due to drug trafficking, prostitution, and theft.

The DFA also got 135 acquittals through its legal assistance fund in 2022, 132 of which were cases in the Middle East.

In 2022, the Saudi government promised President Ferdinand R. Marcos, Jr. that it would settle the unpaid wages and other benefits of overseas Filipino workers who had been laid off by private employers from 2015 to 2016.

The Department of Migrant Workers last year reported the death of 32-year-old domestic workers in Saudi Arabia who might have been murdered due to stab wounds found on her body.

Based on 2021 data from the Overseas Workers Welfare Administration, 60% of overseas Filipino workers were women that year. Data also showed that 75% of 23,986 cases of abuse were against women. — John Victor D. Ordoñez

Remulla takes oath as DILG chief

LONG-TIME provincial chief Juanito Victor “Jonvic” C. Remulla, Jr. on Tuesday took oath as secretary of the Department of Interior and Local Government (DILG), joining his elder brother in the Marcos Cabinet.

Mr. Remulla, younger brother of Justice Secretary Jesus Crispin C. Remulla, replaced seasoned politician Benjamin “Benhur” de Castro Abalos Jr., who is eyeing a Senate seat in the 2025 midterm elections.

“After 29 years serving in the provincial government of Cavite, 11 and a half of which I was governor, I think I will leave the province much better than when I first came in,” the new DILG chief said in a statement.

“To date, Cavite is the most business friendly province in the country.”

Surigao del Norte Rep. Robert Ace S. Barbers was among the top picks for the post, according to previous reports.

The Remullas hail from Cavite province, the nation’s second most vote-rich province with 2.3 million voters in 2022.

Political analysts noted the rise of dynasties in the Executive branch, dragging appointive positions into dirty politics.

“Both the President and the Vice-President have always been dominated by dynasties. Even the Cabinet has been dominated by appointees who are part of fat dynasties,” Michael Henry Ll. Yusingco of the Ateneo Policy Center said in a Facebook Messenger chat.

“But siblings simultaneous occupying offices in the Cabinet just shows the lack of shame amongst political elites to keep power for themselves.”

There are several members of political dynasties in the Marcos Cabinet, including Tourism Secretary Christina Garcia Frasco, whose mother Cebu Governor Gwendolyn F. Garcia is seeking reelection. His uncle Cebu Rep. Pablo John “PJ” Garcia is also vying for reelection.

Several family members of Mr. Marcos’ Finance Secretary, Ralph G. Recto, are seeking for elective posts in next year’s elections including his wife Vilma, who is gunning for the gubernatorial post of Batangas province with their son Luis as her running mate.

“A dynasty in appointive positions may be a new phenomenon in Philippine politics,” Arjan P. Aguirre, a political science professor at the Ateneo de Manila University said. “It deserves a new concept: ‘Dynastic appointments’ — executive appointments given to members of the same family.”

Another Cabinet official who is a member of a political dynasty is Chief Presidential Legal Counsel Juan Ponce Enrile, whose daughter Katrina was appointed as chief of the Cagayan Economic Zone Authority last year.

“The domination of political dynasties of the executive branch will compromise policy decisions, because the focus will be on how to keep political power rather than what is best for the nation,” Mr. Yusingco said.

“It will also undermine development planning and execution because the focus will be on attention-grabbing activities rather than laying down economic foundations for the future.” — Kyle Aristophere T. Atienza

Ex-PNP head denies Guo links

PHILIPPINE STAR/RYAN BALDEMOR

A FORMER national police chief has denied being in cahoots to Philippine Offshore Gaming Operators (POGOs) and dismissed Bamban Mayor Alice L. Guo and her alleged cohorts after photos surfaced online of them together.

Authorities have been looking into a lead on a former chief of the Philippine National Police (PNP) helping Ms. Guo flee the country amid a Senate arrest order.

At a Senate hearing looking into crimes related to POGOs, former PNP chief retired General Benjamin C. Acorda, Jr. said the photo of him with Sual Mayor Liseldo D. Calugay and the ex-Bamban Mayor was just one of the many courtesy calls he received last year from businessmen and local politicians after his appointment.

“As to his entourage during his visit, I have no personal knowledge of who was tagging along with him,” he said.

“Based on my recollection, the photo that was shown was taken last May 6, 2023, barely two weeks after my appointment, when I had a lot of visitors at the time.”

Bureau of Immigration Intelligence Division chief Fortunato S. Manahan, Jr. earlier told senators that his agency was looking into an alleged P200-million bribe from the former town mayor in exchange for her escape in July. 

Retired General Raul P. Villanueva, senior vice-president of Philippine Amusement and Gaming Corp.’s (PAGCOR) security and monitoring cluster, has said a former national police chief might have helped Ms. Guo escape.

The dismissed mayor has been accused of coddling an illegal offshore gaming company in the town of Bamban, Tarlac where she ran and won for the first time as mayor in 2022. The illegal hub had been raided by Philippine law enforcement due to links to scamming operations in March.

She was arrested in Jakarta on Sept. 4 after fleeing the country via a yacht amid a Senate arrest order and human trafficking complaints against her. The former mayor has denied these allegations and insists that she is a Filipino citizen.

Meanwhile, the Commission on Elections on Tuesday said it will file charges against dismissed Bamban Mayor Guo for allegedly committing material misrepresentation in the 2022 national and local elections.

“The Commission resolved, as it hereby resolves, to adopt the recommendation of the Law Department to the filing of information against Respondent Alice Leal Guo/Guo Hua Ping before the proper Regional Trial Court for violation of Section 74 in relation Section 262 of the Omnibus Election Code,” it said in a 12-page resolution.

The polls body said it found probable cause and recommended the filing of information against the controversial mayor for presenting false qualifications and deliberately attempting to mislead the voting public.

The ex-mayor is facing mounting legal battles for graft, qualified human trafficking, money laundering, and tax evasion for her alleged involvement in the Philippine Offshore Gaming Operators hub in Bamban.

She is currently detained in Pasig City Jail. — John Victor D. Ordoñez and Chloe Mari A. Hufana

Bill incentivizes TESDA hiring 

REUTERS

A BILL seeking to grant income tax incentives to businesses hiring trade school graduates from the Technical Education and Skills Development Authority (TESDA) has been filed at the House of Representatives, a proposal seen improving job opportunities for those who took up technical-vocational courses.

Filed in September by Masbate Reps. Ricardo T. Kho and Olga T. Kho, House Bill No. 10939 seeks to provide businesses hiring TESDA National Certificate II (TESDA NC II) holders with a gross income tax deduction equal to 25% of the total wages provided to qualified workers.

“Private persons or entities that employ TESDA NC-II graduates who meet the required skills or qualifications… is entitled to an additional deduction from their gross income, equivalent to 25% of the total amount paid as gross salaries and wages to their employees who are TESDA NC-II graduates,” Section 1 of the bill stated.

Providing an incentive scheme for businesses to onboard trade school graduates will improve their employability while also benefiting enterprises, according to the bill’s introductory note. — Kenneth Christiane L. Basilio

P320-M Baliwag assets flagged

PHILIPPINE STAR/ MICHAEL VARCAS

THE Commission on Audit (CoA) has flagged the city government of Baliwag in Bulacan province for failing to insure P320 million of its assets with the Government Service Insurance System (GSIS), risking massive infrastructure loss due to calamities without indemnity.

State auditors said only P84 million, or 20.8%, of Baliwag city’s assets were insured. This leaves P320 million, or 79.2%, of properties at risk of natural disasters.

This is in violation of the Property Insurance Law of 1951 and a CoA circular, requiring all government assets and properties to be insured by the GSIS, also leaving the local government unit (LGU) without compensation from damages.

The city government of Baliwag did not immediately respond to an e-mail and Facebook Messenger chat requesting comment.

“A total of P320,096,997 or 79.2% of P404,104,347 insurable physical assets of the City were not yet covered by insurance from the Government Service Insurance System General Insurance Fund, thus, exposing the City to the risk of not being indemnified for any damage to or loss of properties arising from fire, earthquake, storm, flood, and other force majeure,” the CoA report read in part. 

About P151 million worth of machinery and equipment owned by the LGU were uninsured, with building assets amounting to P93 million left at risk without financial compensation. State auditors also noted another P75 million worth of transportation equipment without insurance policies. — Kenneth Christiane L. Basilio

Stocks drop as investors pocket gains from rally

BW FILE PHOTO

PHILIPPINE STOCKS closed lower on Tuesday, snapping their two-day climb, as investors pocketed their gains from Monday’s surge and with weaker sentiment on Wall Street spilling over to the local market.

The Philippine Stock Exchange index (PSEi) declined by 0.23% or 17.43 points to close at 7,537.25 on Tuesday, while the broader all shares index lost 0.13% or 5.56 points to end at 4,077.41.

“The local market pulled back this Tuesday as investors took profits after a two-day rally,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

The PSEi closed at a near five-year high of 7,554.68 on Monday.

“The negative cues from Wall Street driven by the rise in Treasury yields and the weakening of the local currency also weighed on the bourse,” Mr. Tantiangco added.

“Philippine shares slipped as investors faced headwinds with rising oil prices and elevated Treasury yields dampened market sentiment,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.

Wall Street’s three major indexes closed down around 1% on Monday while Treasury yields rose, as traders tamped down bets for US Federal Reserve interest rate easing and worried about the Middle East conflict’s impact on oil prices, Reuters reported.

After Friday’s stronger-than-expected jobs report, traders pulled back from bets for a 50-basis-point (bp) rate cut in November. They were pricing in an 86% chance of a 25-bp cut and a roughly 14% chance the central bank would not cut rates at all, according to the CME’s FedWatch tool.

The change in rate cut expectations caused US Treasury yields to rally, with the yield on benchmark 10-year notes exceeding 4% for the first time in two months.

Investors also continue to fret about how Israel would respond to Iran’s missile strikes. On Monday, Lebanon’s armed group Hezbollah fired rockets at Israel’s city of Haifa while Israeli forces looked poised to expand ground raids into south Lebanon.

The Dow Jones Industrial Average fell 398.51 points or 0.94% to 41,954.24; the S&P 500 lost 55.13 points or 0.96% to 5,695.94; and the Nasdaq Composite lost 213.95 points or 1.18% to 17,923.90.

Back home, the majority of sectoral indices ended lower on Tuesday. Property declined by 2.48% or 75.10 points to 2,950.60; mining and oil went down by 0.71% or 64.91 points to 8,977.38; industrials retreated by 0.18% or 19.04 points to 10,035.22; and holding firms dropped by 0.17% or 10.87 points to 6,394.91.

On the other hand, services rose by 0.85% or 20.01 points to 2,357.07; and financials went up by 0.72% or 17.15 points to 2,399.92.

Value turnover fell to P7.39 billion on Tuesday with 1.22 billion shares changing hands from the P7.87 billion with 1.36 billion issues traded on Monday.

Advancers beat decliners, 109 versus 97, while 54 names were unchanged.

Net foreign buying declined to P428.08 million on Tuesday from P1.35 billion on Monday. — Revin Mikhael D. Ochave with Reuters

Magalong seeks third term as Baguio Mayor

BAGUIO CITY — Baguio City Mayor Benjamin B. Magalong on Tuesday, the last day of filing of candidacies, filed his third and final bid as Mayor of Baguio, ending talks on whether he will run for the Senate.

Running under the banner of the Good Governance Alliance, Mr. Magalong is positioning his reelection campaign on the same core values of transparency and service that have defined his previous terms.

His slate includes a mix of seasoned public servants and promising new faces, all committed to upholding excellence and integrity in governance.

The Good Governance Alliance’s lineup of candidates includes incumbent Councilor Isabelo “Poppo” B. Cosalan, Jr. for the congressional seat, while Vice-Mayor Faustino Olowan is seeking reelection.

The alliance is supported by the Nationalist People’s Coalition (NPC), Partido Federal ng Pilipinas (PFP), and the Liberal Party (LP).

Mr. Magalong’s camp said their campaign centers around a comprehensive seven-point agenda, focusing on Environment, Land Use, and Energy; Climate and Disaster Resilience; Urban Regeneration; Youth Empowerment; Economic Recovery and Development; Smart City Management; and Good Governance. — Artemio A. Dumlao

Three drug den operators busted

PHILSTAR FILE PHOTO

COTABATO CITY — Anti-narcotics agents seized P102,000 worth of shabu from three drug den operators, who have reported links to a local terror group, in an entrapment operation in Barangay Poblacion 2 in Cotabato City on Monday.

Gil Cesario P. Castro, director of the Philippine Drug Enforcement Agency-Bangsamoro Autonomous Region in Muslim Mindanao, said on Tuesday that their agents immediately arrested the three drug den operators after selling to them P102,000 worth of shabu in a tradeoff.

Mr. Castro said the entrapment operation was carried out with the help of different units under Brig. Gen. Prexy D. Tanggawohn, director of the Police Regional Office-Bangsamoro Autonomous Region.

Relatives of the now detained suspects, who requested anonymity, told reporters that all three of them had peddled shabu discreetly in far-flung areas where there is presence of the now moribund Dawlah Islamiya.

The allies Dawlah Islamiya and the Bangsamoro Islamic Freedom Fighters, tagged in deadly bombings in Central Mindanao in recent years, are led by violent religious extremists involved in trafficking of shabu and propagation of marijuana. — John Felix M. Unson

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