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Security Bank to use tech to boost car, home loans

SECURITY Bank Corp. expects its car and home loans to grow faster this year as it leverages technology and as the Philippine economy continues to rebound.

“We’ve had experience over the last two years and we’re also making certain technological changes like bringing in applications and developing better systems,” Rahul S. Rasal, Security Bank executive vice-president and Retail Banking Segment head, told reporters on Monday.

The lender seeks to double auto loans and expand its housing loan portfolio by as much as 20%, he added.

Security Bank auto loans grew by 30% last year, while home loans increased by 40%, Mr. Rasal said. Its total loans stood at P502.21 billion at the end of September, according to its financial statement.

“Our auto loans, home loans and credit cards have grown very heavily in 2023 from 2022,” he said. “The difference this year is how we’re going to use technology.”

Security Bank seeks to improve loan processing and will soon upgrade its mobile app to boost customer service and attract more clients, he said.

Mr. Rasal said the bank would focus on app stability and security, which are what customers are looking for based on a market study.

Aside from improving user experience, the lender might also add features to the app including an investment function, Mr. Rasal said.

“Today, retail investors are all doing it in-app,” he said. “That is a fact. Our app will be a one-stop shop for all financial needs. It will be for onboarding customers, transaction convenience, as well as for new products. Investments will be part of that.”

Mr. Rasal said the bank’s lending growth would not be easily affected by macroeconomic factors such as inflation or interest rates given the demographics of its clients.

“The market will respond to certain macroeconomic factors but the market that we cater to is substantially more resilient because our segment is the mass affluent,” he said. “We only talk to customers at a certain income level, which makes them protected from market ups and downs.”

Security Bank’s net income rose by 14.7% year on year to P2.65 billion in the third quarter. Its shares were unchanged at P73 each. — Aaron Michael C. Sy

Apple beats AliveCor lawsuit over heart rate apps for Apple Watch

BW FILE PHOTO

APPLE persuaded a federal judge to dismiss a lawsuit by a Silicon Valley startup accusing it of illegally monopolizing the US market for heart rate monitoring apps for its Apple Watch.

US District Judge Jeffrey White in Oakland, California, ruled on Tuesday against AliveCor, which had developed an app for detecting irregular heartbeats.

It accused Apple of violating the federal Sherman antitrust law and a California unfair competition law.

The decision explaining White’s reasoning is temporarily being kept under seal because of confidentiality concerns.

“AliveCor is deeply disappointed and strongly disagrees with the court’s decision to dismiss our anti-competition case and we plan to appeal,” the company said in a statement.

Apple said in a statement that the lawsuit challenged its ability to make improvements to the Apple Watch that consumers and developers rely on. “Today’s outcome confirms that is not anticompetitive,” it said.

In an amended complaint, AliveCor said Apple had led it to believe it would collaborate on heart-monitoring technology for the Apple Watch, only to then copy its ideas and embark on a “concentrated campaign to corner the market for heart rate analysis.”

The complaint also accused Apple of “updating” the heart rate algorithm for its watches, to prevent third parties from identifying irregular heartbeats and offering competing apps.

AliveCor had developed KardiaBand, a wristband for the Apple Watch capable of recording an electrocardiogram, or ECG.

The Mountain View, California-based company also developed the Kardia app for analyzing ECG readings on Apple Watches, and a SmartRhythm hear trate analysis app powered by artificial intelligence.

Apple, based in Cupertino, California, has denied wrongdoing, and said competitors have no right to dictate its design decisions.

AliveCor is still litigating separate patent infringement claims against Apple.

The case is AliveCor, Inc. v. Apple, Inc., US District Court, Northern District of California, No. 21-03958. — Reuters

Dining In/Out (02/08/24)

CELEBRATING THE YEAR OF THE DRAGON

THE LUNAR New Year is the focus this weekend, and all over the town there are treats and celebrations from luxe gifts to delicious spreads.

JOHNNIE WALKER

Johnnie Walker’s premium Blue Label line is getting a Lunar New Year facelift with a dragon-emblazoned bottle. This was done in collaboration with Asian-American artist James Jean. “Evolved from traditional depictions of Chinese dragons, my dragon is composed of flowers and organic elements, from which emerge tendrils and arcing lines, evoking the idea of roots and connection,” said the artist. In the design’s layered visuals, the evergreen Wood Dragon springs from bountiful flora and fauna, and bursts to life with auspicious ambition. “There are hidden elements in the picture as well — layers to be discovered, just like the layers in this incredible whisky,” said Mr. Jean. “I included chrysanthemums, from which flow liquid gold — inspired by Johnnie Walker whiskies — and hummingbirds sipping on the precious nectar.” The Johnnie Walker Blue Label Lunar New Year Limited Edition is now available in the Philippines in all S&R branches, online through Singlemalt.PH, and through Diageo private sales channels.

CHOWKING

To welcome the auspicious Year of the Wood Dragon, Chowking introduces two festive New Year additions — the Family Lauriat and the new Peanut flavored buchi. The new Family Lauriat features six of their best-selling dishes: Chinese-style fried chicken, Pancit canton, siomai, buchi, Chicharap, and Egg fried rice, presented in customized packaging good for four or six persons. The Peanut Buchi, a sweet and sticky treat crafted to capture good luck and ensure it sticks, is served on a platter, and is available for a limited time only. For more information about Chowking, visit www.facebook.com/ChowkingPH (Facebook) and @ChowkingPH (Instagram).

DIAMOND HOTEL

Usher in the Year of the Wood Dragon with a Dragon and Lion dance at 11 a.m. on Feb. 10. At Corniche, Chinese dishes will be the focus at the buffet from Feb. 8 to 11. Priced at P3,780 net per person for lunch or dinner, the buffet features traditional New Year celebratory fare. One may also avail of the hotel’s sweet and savory takeaway platters and set menus until Feb. 11 at onlineshopping.diamondhotel.com.  With a minimum spend of P5,000, guests can pluck a prize from the Prosperity Tree for a chance to win hotel gift certificates and other prizes. For reservations call 8528-3000 or visit www.diamondhotel.com.

NEWPORT WORLD RESORTS

Newport World Resorts is prepared for the Lunar New Year feasts. At the Newport Garden Wing’s Happy 8, there is a lucky Yee Sang salad toss (P1,108 net) for up to 10 persons. Complete the feast with a Golden sauce poon choi (P3,688 net) of abalone, scallops, live and fresh shrimps, roasted pork belly with mustard sauce, sea cucumber, and more. Chinese fine dining restaurant Man Ho at Marriott Manila is also serving a traditional lo hei for Prosperity (P9,888++ for groups of five or P13,888++ for groups of 10). The auspicious treasure pot filled with the most prized ingredients — Poon Choi (P31,888++) is meant to be shared for a prosperous year. Other available treats in Newport include tikoy (sticky rice cake) for Harmony. At the Newport Grand Wing’s Hua Yuan Brasserie Chinoise at Hilton Manila, Lunar New Year celebrations include Yee Sang sets (P2,588++ for three persons and P7,588++ for up to 15 persons). Curated menus for reunions that are perfect for groups of six are also available from Feb. 1 to 18, including The Prosperity Set (P25,888++), the Wealth Set (P52,888++), and the Grand Fortune Set (P148,888++ for up to 10 persons) is a combination of the restaurant’s greatest hits. A different flavor of festivities takes the spotlight at the Oori Korean Restaurant at Sheraton Manila. The Tteok Mandu Guk (P1,300 net) is a must for Seollal or Korean New Year celebrations. At Hotel Okura Manila, the Year of the Dragon comes in with the Tatsudoshi 2024: Lunar New Year Buffet from Feb. 9 to 10 at Yawaragi and seasonal Lunar Bento Kaiseki at Yamazato, exclusively available from Feb. 1 to 10. The Lunar New Year Buffet (P3,600++ for Friday-Saturday dinner, P1,800++ for Saturday modified lunch) is highlighted by Shaoxing rice wine Roasted Australian wagyu rump, Ginger and shallot-steamed whole grouper, King crab spring roll, Whole sustainable big-eye tuna, and more. The Lunar Bento Kaiseki (P2,800++) may be had for both lunch and dinner service. It features Kuchidori and Shiizakana. For more information, visit www.newportworldresorts.com and follow @newportworldresorts on Facebook and Instagram, and @nwresorts on Twitter.

PENINSULA MANILA

On Feb. 10, the Peninsula Manila will be holding a Lion and Dragon Dance to spook away bad spirits, from 9:08 a.m. to 11:30 a.m. In honor of the Year of the Dragon, The Peninsula Boutique also unveils a limited-edition line of Lunar New Year edible fine chocolate trees: a Mandarin Orange Tree and a Golden Fortune Money Tree which are available at The Peninsula Boutique for P3,888 while the small trees are P2,888 (inclusive of taxes). Also available are mandarin orange, green tea and lemon, mango jasmine, rum, and strawberry Chinese New Year Chocolate Pralines for P88 each (inclusive of taxes). In the Lobby, The Pen offers the lo hei prosperity toss salad to greet good luck. The Peninsula Chinese New Year lo hei is available for lunch and dinner at The Lobby on Feb. 9 and 10 for P5,888 (exclusive of taxes). Also on Feb. 10, at Escolta, the lunch rate for the Lunar New Year celebration is set at P2,600 for adults and P1,300 for children six to 12 years old. The dinner rate for the special occasion is set at P3,000 for adults and P1,500 for children six to 12 years old. For inquiries, call The Peninsula Manila at 8887-2888 ext. 6694 (Restaurant Reservations), or e-mail diningPMN@peninsula.com.or visit peninsula.com.

SOLAIRE

At Solaire, guests can get a glimpse of their destiny in wealth, health, and romance with exclusive fortune readings by Feng Shui Master Clement Chan. There will be a Dragon and Lion Dance on Feb. 10, plus other performances like a Chinese orchestra, Chinese Fan Dance, Wushu exhibition, and a War Drums exhibition from Feb. 9 to 11 at The Gallery at The Shoppes. Toast to the Year of the Wood Dragon with Red Lantern’s Chinese New Year Eat-All-You-Can Dim Sum Buffet. Indulge in premium set menus that highlight rich flavors of the Prosperity Yu Sheng salad toss. Lunar Gift Hampers by Solaire contain treats like homemade cookies, homemade caramel almond sea salt candies, a glutinous rice cake bar, 30 Years Pu-er tea, Macallan 18 Years Sherry Oak, Remy Martin Louis XIII 700ml, and more. These are also available at Red Lantern. For inquires and reservations, call 8888-8888 or e-mail reservations@solaireresort.com.

MAKATI SHANGRI-LA

The hotel welcomes the Lunar New Year with a traditional Lion and Dragon Dance for its guests at the hotel lobby on Chinese New Year’s Eve, Feb. 9, at 10:30 p.m., and on Chinese New Year Day, Feb. 10, at 12:30 p.m. Special Lunar New Year set menus at Shang Palace are available until Feb. 18. Rates start at P36,800 ++ for the Harmoney set menu, P46,800++ for the Prosperity set menu, and P49,800++ for the Good Fortune set menu. All set menus are good for 10 persons. Makati Shangri-La’s nian nao (sticky rice cakes) are also up for grabs, variations of which include the prosperity fish and the traditional gold bar. Nian gao rates start at P2,088 net per single box. These fortune favors are available at the hotel’s main lobby from 9 a.m. to 9 p.m. For inquiries, call 813-8888 or send an e-mail to dining.makati@shangri-la.com.

CONRAD MANILA

China Blue by Jeremy Leung at the Conrad Manila is offering two luxurious Lunar New Year menus, with one at P49,888 net (Auspicious Reunions) and another at P68,888 (Grand Fortune). Both menus are good for 10 people. As another New Year treat, Conrad Manila is offering nian gao with each set at P2,388 net in two shapes and flavors (Big Koi Fish in white almond, and Small Koi Fish in brown coconut caramel and citrus). For inquiries, call 0917-650-4043.

CRIMSON HOTEL FILINVEST CITY

For 2,888 net, Cafe Eight at Crimson Hotel offers a family style platter good for two to four people. The platter contains a soup, rice, a main dish, and noodles. For table reservations, call 8863-2222 or e-mail dining@crimsonhotel.com.

Elephants

AMAR HUSSAIN-UNSPLASH

AS A METAPHOR, the elephant often figures in social commentary. In the case of the “elephant in the room,” it is meant to be intentionally avoided. In social gatherings, such embarrassing elephants are left unmentioned, though they are in everybody’s mind.

The “white elephant” is used to refer to expensive failures or hard-to-maintain losses. The etymology of the phrase derives from a practice of Siamese kings. A critic or potential rival in the royal court is gifted with an albino elephant to take care of. The cost of feeding and nurturing such a rare specimen is expected to lead to the financial ruin of the recipient. So, over-budget and behind-schedule projects are now routinely referred to as white elephants, causing embarrassment and even ruin to the proponents.

The elephant has also been used to illustrate the problem of perception. The tale of the three blind men who touch different parts of the beast come up with a limited perception of what they are confronted with. Dealing with just a part of the big picture can lead to wrong conclusions. Problems need to be defined as one whole elephant.

Gradualism or the attempt to solve big problems with many small steps use the recent paradigm of the elephant too. When eating an elephant, one is told, it is best to do this one bite at a time. These small servings of a big meal do not even consider the edibility of this mammal. And does the elephant stay still for these dim sum bites?

As for the gait of the pachyderm, a slow-walking overweight young person can be taunted and body-shamed to walk faster and not to breathe so heavily. She is called an elephant and even asked derisively how much she weighs. She can reply — with or without tusks?

The “elephant walk” is slow and measured. It was the name of a brief dance craze in the ’60s, with its own get-up-and-boogie hit music. The slow gait and occasional lifting of one foot (and then the other) was a simple dance routine that would not possibly make it to any terpsichorean competition. The elephant walk was ideal for conga line-dancing, especially for slow movers who shout better than they move. (The elderly reader can even catch herself humming the “elephant walk,” maybe swaying in her seat. Younger readers can google it.)

“Riding the tiger” is a metaphor for getting into a sticky mess and unable to get off unscratched. What about riding the elephant?

For one who had tried to get atop an elephant as part of some tour event in Thailand, the effort was daunting. Just getting to the seat (sometimes for two) atop the big lump one must get up on a platform for this purpose. The trained elephant needed to cooperate. It knelt in front of the platform to allow the tourist/rider to hoist himself into the basket seat. And the ride along narrow foothills could be good for selfies, if one was not fearful of dropping the phone into the bushes. Getting off that beast rewound the whole process.

Thus, riding and getting off either a tiger or an elephant cannot apply as metaphor for the same situation. The former means of transport requires survival skills at the back of a predator. The latter ride is assisted and requires the trained cooperation of the carrier.

Going back to our first instance of elephantiasis where a subject to be avoided is an “elephant in the room,” we now have a digital version.

An online grouping is pre-selected by a self-appointed administrator based on common interests like art auctions, online gambling, or, more commonly, the goings-on of alumni of a particular school. Most exchanges feature greetings prompted by a “birthday beadle” listing daily celebrants who are greeted, and then required to thank each of the greeters.

Contentious exchanges can spoil this online camaraderie.

Some controversies like the Gaza attack and counterattack, the West Philippine Sea hosing of re-suppliers of grounded ships, and the targeting of pet peeves can arouse fiery exchanges. (You have the IQ of a cactus.) New ground rules are promulgated to list subjects to avoid, and characters opting out of the group.

In promoting social harmony, life can become a zoo… with so many elephants in the room.

 

Tony Samson is chairman and CEO of TOUCH xda

ar.samson@yahoo.com

Philippine Annual Labor Force Situation

THE JOBLESS RATE dropped to a record low of 4.3% last year as more Filipinos became employed, the Philippine Statistics Authority (PSA) reported on Wednesday. Read the full story.

 

Philippine Annual Labor Force Situation

Philippine Labor Force Situation

THE JOBLESS RATE dropped to a record low of 4.3% last year as more Filipinos became employed, the Philippine Statistics Authority (PSA) reported on Wednesday. Read the full story.

 

Philippine Labor Force Situation

How PSEi member stocks performed — February 7, 2024

Here’s a quick glance at how PSEi stocks fared on Wednesday, February 7, 2024.

At least 6 killed, over 40 missing as landslide hits Mindanao mining town

RESCUED landslide victims from Maco, Davao de Oro were immediately rushed to hospitals for treatment of their injuries. -- PHILIPPINE STAR/JOHN FELIX M. UNSON

By Kyle Aristophere T. Atienza, Reporter

SIX BODIES have been retrieved, while at least 40 other people remain missing at the site of Tuesday night’s landslide that knocked off and buried two buses parked on the road of the upland mining town of Maco, Davao de Oro province in the Southern Philippines.

Rescue efforts continued through rains at the muddy mountainside on Wednesday as the number of injured people — mostly mining workers on their way home from their Tuesday afternoon shift — rose to 31.

The landslide happened just outside the gold mine site of Apex Mining Co, Inc. in the village of Masara, the mining operator said in a statement.

The area has been a vehicle terminal for buses and jeepneys servicing its employees as well as members of the community, the company added.

The village, which had a population of 1,125 as of May 2020, was also the site of two landslides in September 2008 that killed 24 people and left two missing.

“Just before the landslide, there were four 60-seater buses and one 36 pax-capacity jeepney waiting for the outgoing employees,” the company said.

It added that one bus had left for Mawab town “while the rest were still waiting when the landslide occurred.”

The company said at least 62 of its employees had been accounted for as of 11:30 a.m. on Wednesday, while it was still tracing the whereabouts of 45 others.

By 2 p.m., the Municipal Disaster Risk Reduction Management Office (MDRRMO) of Maco said six bodies had been dug up from the landslide, while 758 families in the surrounding area were staying at evacuation centers.

Responders were immediately deployed on Tuesday night, but rescue operations were halted around 1 a.m. on Wednesday due to hazardous conditions, the MDRRMO said.

The Philippine military’s eastern Mindanao command said in a 2:15 am report on Wednesday that 86 people had been trapped due to the landslide.

DISASTER AID RELEASED
Areas in Davao region, also in Mindanao, had experienced massive flooding following rains that began on Jan. 28, prompting President Ferdinand R. Marcos, Jr. to order on Wednesday the release of P265 million from his presidential social fund to assist affected families.

Earlier, the National Disaster Risk Reduction and Management Center (NDRRMC) reported that the death toll from the flooding had risen to 18.

Speaking at a situation briefing in Davao City during the President’s visit Wednesday, Social Welfare Secretary Rex Gatchalian said the fund ordered for release is on top of the emergency cash assistance that he had been authorized earlier.

The provinces of Davao del Norte, Davao Oriental, Davao de Oro, and Agusan del Sur will receive P30 million each, while the provinces of Surigao del Sur and Maguindanao del Sur will get P25 million each.

Davao City, Butuan City, and the province of Davao Occidental will receive P20 million each, while P15 million was earmarked for the province of Agusan del Norte.

The provinces of Cotabato and Bukidnon were set to receive P10 million each.

The continued rains have affected 324,040 families — over 200,000 of whom were displaced — in five regions in Mindanao such as Northern Mindanao, Davao Region, Soccsksargen, Caraga, and the Bangsamoro Autonomous Region in Muslim Mindanao. — with a report from John Felix M. Unson

Marcos gives green light to Davao’s bulk water and transport projects

PHILIPPINE STAR/KRIZ JOHN ROSALES

PRESIDENT Ferdinand R. Marcos, Jr. has greenlighted a renewable energy-run water project in the southern city of Davao as it deals with the prevailing El Niño weather pattern that is expected to worsen water supply woes in the area.

In addition, his administration is advancing a proposed public transport project that targets to utilize hundreds of electric buses in the country’s third largest city, home to his predecessor-turned-critic Rodrigo R. Duterte.

In a speech at the inauguration of Davao City’s Bulk Water Supply Project, Mr. Marcos said: “What this demonstrates is a proven approach to battling water scarcity — which is no longer a seasonal challenge but a perpetual threat that comes with climate change.”

Any water supply disruption, which is triggered by the El Niño phenomenon, would dampen economic activities and fuel disorder, he said.

The Philippine weather bureau had said over 60 provinces would likely face drought conditions by May.

While the Davao project is touted as the largest of its kind in the country, Mr. Marcos stressed the importance of expediting the completion of all other water projects.

Last month, he also inaugurated a water treatment plant south of Metro Manila. The project by Manila Water Services, Inc. was designed to process 150 million liters of drinking on a daily basis.

Mr. Marcos said the Davao City water project exemplifies a shift away from relying on groundwater sources and toward utilizing surface water sources.

The project, which was a result of public-private partnership (PPP), will utilize the Tamugan River as its water source and use a renewable energy-powered water treatment facility.

It was an initiative of the Davao City Water District and Apo Agua Infrastructura, Inc., a subsidiary of Aboitiz InfraCapital.

TRANSPORT MODERNIZATION
Meanwhile, Mr. Marcos also witnessed the signing of the civil works contracts for the P73.38-billion Davao Public Transport Modernization Project, which establishes a 672-kilometer bus route network that would serve 29 interconnected routes with 400 electric buses and more than 500 diesel buses.

“This project will become the template for public transport systems in other cities in our country,” he said. “This people mover will provide faster and more comfortable commutes while decongesting streets filled with private vehicles, and improve road traffic.”

In a separate statement, Department of Transportation (DoTr) Secretary Jaime J. Bautista confirmed the signing of four civil works contracts for the program, specifically the construction of depots, terminals, bus stops, bus lanes, pedestrian lanes, and a driving school under the DPTMP.

“The high-quality bus-based transportation system will have a core service lane connecting major commercial centers, nine feeder routes, eight routes to inner urban areas and links between outer rural areas and terminals in Davao City, Panabo City, and Davao del Norte,” DoTr said.

The civil works for the project, which is funded by the Asian Development Bank, are expected to begin in the third quarter.

It is expected to serve 800,000 passengers daily and generate about 3,000 jobs.

The DPTM is expected to commence initial operation by the fourth quarter of next year while its full operation is targeted in 2026.

In the same city, Mr. Marcos also led the distribution of over 2,500 land titles to land reform beneficiaries, and pledged to boost the Agrarian reform agency’s distribution efforts.

The agency distributed over 90,000 titles last year, he said at an event attended by his predecessor’s daughter, Vice President Sara Duterte-Carpio.

“I am hoping this will increase or double in 2024,” he said.

The country is now a few months away from the filing of candidacies for the 2025 midterm polls.

An OCTA Research poll conducted from Dec. 10 to 14 showed that the President’s trust rating rose to 76%, an increase of three percentage points from the previous quarter. Only 8% distrust him, and 17% were undecided, the poll said. — Kyle Aristophere T. Atienza with a report from Ashley Erika O. Jose

House may push people’s initiative if Senate delays Charter review

PHILIPPINE STAR/MICHAEL VARCAS

By Beatriz Marie D. Cruz, Reporter

THE House of Representatives may resort to throwing its full weight behind the people’s initiative to amend the 1987 Constitution if senators ignore their own timetable to review the Charter change agenda, a congressman said on Wednesday.

Speaking at a news briefing, Surigao del Norte Rep. Robert Ace S. Barbers expressed readiness to consider the people’s initiative if the Senate does not act swiftly.

“If this will not happen, I think the people’s initiative is ongoing, it’s just suspended for the meantime, by the Comelec (Commission on Elections),” Mr. Barbers said. “So, I don’t know, maybe one of the back-up plans would be to consider the people’s initiative.”

Last week, the Comelec suspended proceedings on the so-called people’s initiative for Charter change (“Cha-cha”) amid allegations that several congressmen were involved in a paid signature campaign.

The Senate began on Monday its deliberations on the Resolution of Both Houses (RBH) No. 6, easing economic provisions of the 1987 Constitution to welcome more foreign investors in the country.

House lawmakers have asked senators to stick to their earlier deadline of finishing its Charter change deliberations before the Holy Week break next month.

It can be recalled that Senate President Juan Miguel F. Zubiri had announced that the Senate’s constitutional review should be done by the first quarter of the year.

Mr. Barbers clarified that the House’s call is not an ultimatum, and the Lower Chamber has not discussed specific “back up plans” if senators do not act quickly on its constitutional review.

“We’re just giving the Senate the time to consider approving and adopting RBH 6 and it would really be appreciated if they pass this at the scheduled time that they promised,” he said.

Earlier, Sen. Juan Edgardo “Sonny” M. Angara said the Senate seeks to finish proposing changes to the Constitution by October, the same month the Comelec set for the filing of certificates of candidacy for the 2025 midterm elections. He suggested including a plebiscite on “Cha-cha” in the midterm voting.

In response, House Majority Leader and Zamboanga City Rep. Manuel Jose M. Dalipe said the “election fever” is about to start and the “Cha-cha” push could get politicized.

Likewise, House Deputy Speaker and Quezon Rep. David C. Suarez said voting on constitutional change simultaneously with the midterm polls could affect local politics.

Bill on P100 private sector pay increase reaches Senate plenary

BW FILE PHOTO

By John Victor D. Ordoñez, Reporter

A SENATE bill proposing a P100 across-the-board wage increase for private sector workers has reached the plenary pending debates.

“Now is time that we push for the benefits of our labor sector,” Senate President Juan Miguel F. Zubiri, one of the lawmakers who sponsored the measure, said at Wednesday’s plenary session.

“With this bill, we hope to take a vital step in recognizing the worth of our workers,” he said.

Under Senate Bill No. 2534, the Wage Increase Act of 2023, workers in the private sector whether agricultural or non-agricultural would gain a P100 increase in their daily pay to ensure a “living wage” for the Filipino workforce.

A bloc of congressmen has also filed a bill seeking a P750 daily wage hike for private sector workers, including those in special economic zones, freeports, and agriculture.

Metro Manila’s daily minimum wage rose by P40 to P610 in June last year, much lower than the P570 increase sought by Unity for Wage Increase Now.

“There is a chance for them (workers) to be more productive, to pay more taxes, to spend more in our economy, and to be able to live a life that they deserve,” Senate President Pro Tempore Regina “Loren” B. Legarda said during her co-sponsorship speech on Wednesday.

Philippine labor groups have backed a legislated wage hike saying it would unleash consumer spending power and raise worker pay above “poverty” levels.

“Our workers are the foundation of our society, and it is their right to earn a decent pay to have a decent life,” Mr. Zubiri said.

Labor group bats for better infrastructure, railway projects over Cha-cha 

By John Victor D. Ordonez, Reporter

THE PHILIPPINE government must prioritize bolstering its infrastructure and railway programs to boost jobs amid calls to revise the 1987 Constitution, the Federation of Free Workers (FFW) said on Wednesday. 

“FFW argues that good infrastructure will entice more investments than the proposed economic chacha (charter change),” the labor group said in a statement. 

Nelfa P. Bermudes, vice president for FFW Mindanao, said the government needs to build more interconnected railways to provide affordable mass transportation to workers. 

Congress is currently deliberating on proposals to ease foreign ownership restrictions in the 1987 Charter, particularly in education, public utilities, and advertising. 

Hilario G. Davide, Jr., a former chief justice and one of the framers of the Constitution, told senators last week that Congress should focus on cutting red tape and corruption instead of seeking to ease foreign ownership restrictions in the Constitution.“Amendments or revisions to the Constitution at this time would be a lethal experiment, a fatal hit, a plunge to death, a Cha-cha dance to the grave or to hell,” he said. 

The FFW welcomed developments in fast-tracking the construction of the North-south commuter Railway, South Long Haul and other railway projects in Visayas and Mindanao. 

“The railway projects across Luzon, Visayas, and Mindanao are key to propelling the Philippines towards a brighter, more united and better connected future,” Ms. Bermudez said.

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