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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.

P20 wage hike set in BARMM

The Bangsamoro wage board approved on Wednesday the new wage order for agriculture and non-agricultural workers in the autonomous region. -- PHILIPPINE STAR/JOHN FELIX M. UNSON

COTABATO CITY — The Bangsamoro Tripartite Wages and Productivity Board (BTWPB) ordered on Wednesday a P20 increase in the minimum daily wage of agriculture and non-agriculture workers in the autonomous region of Mindanao.

As a result of this new wage order covering the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), about P600 a month shall be added to the salaries of a non-agriculture worker, who currently earns P361 a day, and agricultural workers, who are compensated P336 per day.

The wage order was signed by members of the BTWPB and its chairperson, Regional Labor Minister Muslimin G. Sema, at the Ministry of Labor and Employment-BARMM office, here.

“There was prior multi-sector consultation before we crafted this new wage order that we approved today,” Mr. Sema told reporters present at the signing.

BARMM covers the provinces of Maguindanao del Norte, Maguindanao del Sur, Lanao del Sur, Basilan, Sulu and Tawi-Tawi, and the cities of Cotabato, Marawi and Lamitan. — John Felix M. Unson

House panel OK’s marijuana bill

PHILSTAR FILE PHOTO

THE HOUSE dangerous drugs and health committees approved “in principle” on Wednesday a bill that would allow the use of cannabis or marijuana as medicine even without removing it from the country’s list of illegal drugs.

“The inclination of the joint committee is not to delist but to maintain cannabis among the list of prohibited drugs in Republic Act No. 9165 (Dangerous Drugs Act),” Batangas Rep. Gerville R. Luistro, who headed the technical working group (TWG) that fine-tuned the bill, told the hearing.

Under the measure, medical cannabis in pharmaceutical form will only be issued by doctors to patients with “debilitating diseases” or medical conditions that can cause severe weakness.

The proposed law, which sets guidelines on the legal and regulated prescription of medical cannabis for specific diseases, as well as safeguards to avoid its abuse, will undergo final corrections before being sent to the plenary.

The bill allows cannabis as treatment for such diseases as epilepsy, glaucoma, cancer, post-traumatic stress disorder, human immunodeficiency virus (HIV), and acquired immune deficiency syndrome (AIDS), among others.

The joint committee also passed an amendment that allows cannabis as treatment against “non-debilitating diseases” like anxiety or severe insomnia.

The bill also seeks to establish the Medical Cannabis Office (MCO) which will regulate the issuance of permits and licenses to doctors, hospitals, drugstores, clinics, and dispensaries qualified to prescribe or release medical cannabis. The office will be an attached agency under the Department of Health.

Cannabis may only be prescribed by an accredited doctor that has complied with training and requirements specified in the bill.

“Not all medical practitioners will be given accreditation,” House dangerous drugs panel chairman and Surigao del Norte Rep. Robert Ace S. Barbers told reporters after the hearing.

The Dangerous Drugs Board (DDB) must also ensure that those allowed to prescribe or release medical cannabis are not under its drugs watchlist.

Offenders will be liable to a fine of as much as P1 million and up to six years of jail time.

Doctors found overprescribing or prescribing cannabis to unqualified patients also will have their medical license revoked.

Batanes Rep. Ciriaco B. Gato, Jr., who heads the House committee on health, said he supports the proposed law “with a strong reservation” on the local manufacture and cultivation of cannabis.

The joint panel has yet to include final revisions to the committee report of the measure and will be approved during the next hearing. — Beatriz Marie D. Cruz

Enhance early education — expert

PHILIPPINE STAR/ WALTER BOLLOZOS

THE DEPARTMENT of Education (DepEd) must enhance the public Kindergarten education program to improve the global performance of Filipino students, an education expert told the Senate on Wednesday.

At a Senate hearing looking into the Philippines’ poor performance in the 2022 Program for International Student Assessment (PISA), Philippine Institute for Development Studies (PIDS) Senior Research Fellow Michael Ralph M. Abrigo said Filipino students are more likely to have basic reading skills by the time they enter elementary school through a more proficient Kindergarten program.

“(Students) are more likely to have full functional literacy, so it means they can read, they can write, they can perform simple numerical tasks and (read) comprehensible text by early teenage (years),” he said in mixed English and Filipino.

“So after a few years, there will still be an advantage of having kindergarten education.”

Citing DepEd data, Mr. Abrigo added that students taught in a language they understand were less likely to experience learning loss in Filipino and English literacy skills and would score twice as high in numeracy as those taught in a language they did not understand as well.

Filipino students ranked 77th out of 81 countries in the 2022 PISA, performing worse than the global average in all categories.

Senator Maria Lourdes Nancy S. Binay said the government should revisit the methodology of teaching students, which she said was too focused on memorization instead of applying the lessons learned.

In 2022, the Philippines placed 22nd out of 111 countries in the 2022 English Proficiency Index by Education First. The country got a score of 578, which is considered high, second in the Asia-Pacific region after Singapore.

Students in the Philippines and Indonesia are more than a year behind in their learning because of the pandemic, McKinsey & Co. said in a report published in April last year.

A quarter-million Filipino students moved from private to public schools in 2020 and 2021, as many parents lost their jobs, according to the Education department.

In a July 2023 report, the Asian Development Bank (ADB) said the Philippines should use education technology to bridge the skills gap or risk job losses due to rapid technological advancements. — John Victor D. Ordoñez

Quiboloy subpoenaed by House

PCOO

A HOUSE of Representatives panel on Wednesday issued a subpoena against Apollo C. Quiboloy for missing several panel hearings on the revocation of Sonshine Media Network International’s (SMNI) legislative franchise.

Congressmen have placed Mr. Quiboloy’s broadcast network, SMNI, under scrutiny for allegedly spreading false information about House Speaker Ferdinand Martin G. Romualdez and his travel expenses.

During the House Legislative Franchises Committee hearing, Surigao del Sur Rep. Johnny T. Pimentel moved to subpoena Mr. Quiboloy for his repeated absence from the hearings. No congressman objected to the motion.

Last month, the Senate committee on women, children, family relations and gender equality issued a subpoena against Mr. Quiboloy for missing the panel’s investigation on his alleged human trafficking and sexual abuse cases.

Mr. Quiboloy, who is also leader of the Kingdom of Jesus Christ (KOJC) religious sect, has been wanted in the United States for allegations of sex trafficking, among other crimes.

He is included in the Federal Bureau of Investigation’s Most Wanted list. – Beatriz Marie D. Cruz

Customs nets P25-M contraband

BW FILE PHOTO

THE BUREAU of Customs (BoC) seized smuggled cigarettes and motorized bancas worth an estimated total of P25 million in Sultan Kudarat and South Cotabato.

BoC agents seized 22,700 reams of smuggled cigarettes estimated at around P17 million and a motorized banca worth P500,000 in a separate operation in Sultan Kudarat on Dec. 3.

The agency said it also conducted two joint operations on Jan. 6 and 10 in Sultan Kudarat and Lake Sebu, South Cotabato, respectively.

“In Sultan Kudarat, the authorities intercepted 14,000 reams of assorted smuggled cigarettes, valued at P7 million along with a motorized banca marked as ‘MB Al-Amanah’ estimated to be worth P700,000,” the BoC said. “While in Barangay Ned, Lake Sebu, authorities were able to seize 215 reams of various smuggled cigarettes worth P107,000.”

“The individuals involved have gone through inquest proceedings, while the seized items are securely stored pending seizure and forfeiture proceedings,” the BoC added. — Luisa Maria Jacinta C. Jocson

Transport group files complaint vs transport officials before Ombudsman

MEMBERS of the transport group Manibela staged a protest as they filed a case against transportation officials before the Office of the Ombudsman over the alleged summary revocation of their franchises for failure to consolidate under the government’s modernization program. -- PHILIPPINE STAR/MICHAEL VARCAS

TRANSPORT group Manibela has filed a misconduct complaint before the Office of the Ombudsman against officials of the Department of Transportation (DoTr) and the Office of the Solicitor General (OSG) for allegedly revoking the franchises of unconsolidated public utility vehicles without due process.

Based on a copy of the complaint sent to BusinessWorld via Viber, Manibela president Mario S. Valbuena said the DoTr failed to conduct any consultation with public utility vehicle (PUV) drivers when favoring foreign-made vehicles in implementing its jeepney modernization program.

The group alleged the officials committed grave and serious misconduct when revoking the franchises.

The DoTr did not reply to a Viber message seeking comment.

“The act of favoring alien suppliers of vehicles is unpatriotic especially that there are able and tested vehicles manufacturers like Francisco and Sarao Motors among many others,” Manibela said.

The Pinagkaisang Samahan ng mga Tsuper at Operators Nationwide (PISTON) asked the Supreme Court in December to void the PUV modernization program, questioning its legality.

The group said the program violated PUV operators’ freedom of association as protected by under the Constitution.

Last month, the OSG asked the High Court to deny the plea saying the group should have filed it before the lower courts first.

President Ferdinand R. Marcos, Jr. had approved a three-month extension for PUV operators to consolidate, with the new deadline set on April 30 from Jan. 31.

About 75% of jeepney operators have been consolidated as of January, according to the Land Transportation Franchising and Regulatory Board. — John Victor D. Ordoñez

P28-M marijuana seized in Tabuk City

REUTERS

BAGUIO CITY — A total of P28 million worth of marijuana bricks, dried leaves, stalks, and fruiting tops were seized by authorities from a vehicle parked in Tabuk City, the capital of Kalinga province, on Tuesday.

Anti-narcotics agents of the Philippine Drug Enforcement Agency (PDEA), along with police from the Kalinga Police Provincial Office, found the illegal substances inside an abandoned silver and green Mitsubishi Pajero with the license plate number UST-711 around 4:45 a.m.

Police said they were responding to a tip about the transport of marijuana from Tinglayan to Tabuk City.

The haul included 205 marijuana bricks, 45 tubular forms, and 25 vacuum-sealed packages of marijuana dried leaves.

In addition to the marijuana, operatives also found six grams of suspected shabu valued at P40,800. Following a thorough inventory witnessed by officials from the Department of Justice (DoJ), members of the media, and barangay representatives, the confiscated drugs and other evidence were secured by law enforcement for further legal proceedings. — Artemio A. Dumlao

Peso may end Q1 at P56 a dollar amid skittish Fed easing timing

BW FILE PHOTO

By Aaron Michael C. Sy, Reporter

THE PHILIPPINE PESO may end above P56 against the dollar this quarter amid uncertainty about the timing of the US Federal Reserve’s easing cycle, according to MUFG Global Markets Research.

“We have raised our forecast for USD/PHP to P56.20 for Q1 2024, but kept our 12-month forecast at P55 for Q4 2024,” it said in a report on Wednesday.

The research firm expects the peso to close at P55.80 in the second quarter, at P55.30 in the third and at P55 in the fourth quarter.

The peso appreciated against the dollar on Wednesday after Federal Reserve Bank of Cleveland President Loretta J. Mester on Tuesday said the US economy performing as she expected could open the door to rate cuts.

But she was not ready yet to say when due to inflation uncertainty, Reuters reported.

“The peso strengthened following indications from Fed official Mester that the US central bank could consider a measured reduction in policy rates later this year, while rejecting the possibility of earlier cuts,” a trader said in an e-mail.

The peso closed at P55.95 a dollar, 25 centavos stronger than its close on Tuesday, Bankers Association of the Philippines data showed.

It opened at P56.08 strengthened to as much as P55.95 and weakened to as much as P56.12. Dollars exchanged went up to $1.29 billion from $1.26 billion on Tuesday.

MUFG Global Markets previously saw the peso closing at P55.40 in the first quarter, P55.30 in the second quarter, P55.20 in the third and P55 in the last quarter.

“In the near term, there could be some upside pressure still on the US dollar given uncertainty around the Fed’s rate path, coupled with the trajectory of global growth,” MUFG said.

Futures tied to the Fed’s policy rate late Tuesday showed investors assigning about a 20% chance of the Fed cutting interest rates in March, down from 64% a month ago, CME Group data showed.

The probability of a first rate cut coming in May, meanwhile, has increased to 55% from 37% a month ago. Investors were now pricing in a total of 122 basis points (bps) in cuts this year, from about 150 bps in mid-January, Reuters said.

The Federal Open Market Committee held its target rate steady at 5.25-5.5% for a fourth straight time at its meeting last week. It raised borrowing costs by 525 bps from March 2022 to July 2023.

While inflation settling within the Bangko Sentral ng Pilipinas’ (BSP) 2-4% target and a hawkish central bank could support the peso, the current account deficit would continue to drag it down, MUFG said in its report.

“Nonetheless, the read-through to the PHP is mixed,” it said. “While strong growth could boost equity inflows and keep the BSP hawkish for longer, what also matters for PHP is the trajectory of the current account deficit.”

The BSP expects a $9.5-billion current account deficit, equivalent to 2% of gross domestic product this year.

It expects the deficit to have narrowed to $11.2 billion (2.5% of GDP) last year from $18.1 billion (4.5% of GDP) in 2022. The current account deficit stood at $10.9 billion — equivalent to 3.5% of GDP — in the nine months to September.

Inflation slowed to 2.8% in January from 3.9% in November and 8.7% a year ago, the slowest since 2.3% in October 2020.

BSP raised borrowing costs by 450 bps from May 2022 to October 2023, bringing the policy rate to a 16-year high of 6.5%.

MUFG Global Markets Research expects the BSP to begin its easing cycle in the second half as inflation moves to the upper half of the 2-4% target. “We continue to expect the PHP to underperform other Asian FX in 2024, but only modestly,” it added.

Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., said easing inflation had also supported the peso.

The trader expects the peso to weaken on Thursday “ahead of a potentially gloomy Chinese inflation report that might reignite concerns about the global economy.”

The trader sees the peso moving between P55.85 and P56.10 a dollar, while Mr. Ricafort expects it to trade at P55.90 to P56.10.

The peso has weakened by 1.04% or 58 centavos to date from its P55.37 close on Dec. 29.

PSEi continues rise on positive economic data

PHILIPPINE STAR/KRIZ JOHN ROSALES

By Revin Mikhael D. Ochave, Reporter

PHILIPPINE stocks closed higher for the fourth straight time on Wednesday as investors absorbed positive economic data.

The 30-member Philippine Stock Exchange Index (PSEi) rose by 1.1% or 74.78 points to close at 6,830.04. The broader all-share index climbed by 0.78% or 27.71 points 3,566.76.

Claire T. Alviar, a research analyst at Philstocks Financial, Inc. attributed the increase to favorable inflation and job data.

The Philippine jobless rate dropped to 3.1% in December, bringing the full-year figure to 4.3%, a record low, the local statistics agency said on Wednesday.

January inflation also slowed to 2.8% from 3.9% in December and 8.7% a year earlier, the second straight month that prices were within the central bank’s 2-4% target.

Stocks likewise advanced on the back of stronger US markets, Ms. Alviar said in a Viber message. “Moreover, positive cues from the US markets, driven by strong corporate earnings, coupled with the expectation of an interest rate cut by the Federal Reserve, boosted the sentiment further.”

The Dow Jones Industrial Average Index rose by 0.37% or 141.24 points to 38,521.36 on Feb. 6; the S&P 500 Index gained 0.23% or 11.42 points to 4,954.23; the Nasdaq Composite added 0.07% or 11.32 points to 15,609; and the New York Stock Exchange Composite Index advanced by 0.77% or 130.70 points to 17,135.48.

The Philippine stock market closed higher amid lukewarm overseas sentiment, Luis A. Limlingan, head of sales at Regina Capital Development Corp., said in a Viber message. “Sentiment was also lukewarm overseas as investors parsed through another slate of quarterly results halfway through the corporate earnings season.”

Almost all of the market’s sectoral indexes closed higher except for mining and oil, which fell by 0.6% or 54.83 points to 9,088.89.

Services gained 2.13% or 35.77 points to 1,711.95; property increased by 1.63% or 47.79 points to 2,963.85; holding firms rose by 1% or 64.22 points to 6,443.81; industrials went up by 0.62% or 56.84 points to 9,190.92; and financials inched up by 0.29% or 5.6 points to 1,933.85.

“Among the index members, Ayala Corp. was at the top, increasing by 6.4%, while DMCI Holdings, Inc. lost the most by 2.37%,” Ms. Alviar said.

Value turnover rose to P6.33 billion with 829.44 million issues changing hands compared with 749.46 million issues worth P4.76 billion on Tuesday.

Advancers beat decliners 112 to 80, while 49 shares were unchanged.

Net foreign buying increased to P1.21 billion from P44.45 million worth of net foreign inflows on Tuesday.

Chiefs coach Reid bemused by Super Bowl conspiracy theory

AGA projects Americans to wager $23.1 billion

LAS VEGAS — Kansas City head coach Andy Reid’s no-nonsense countenance cracked for just a second on Tuesday when he was asked to address one of the wilder theories circulating Las Vegas in Super Bowl week.

There isn’t much the seasoned 65-year-old hasn’t encountered in a storied career, but he was almost lost for words when a German reporter asked him about theories being espoused that the National Football League (NFL) had somehow “scripted” the romance between Chiefs tight end Travis Kelce and Taylor Swift to allow the pop star to use the Super Bowl to bolster support for Joseph R. Biden in the presidential election.

“Hmmm,” Reid smiled, before suddenly shaking his head in bemusement. “That’s way out of my league. Very similar to me speaking German,” he guffawed.

“But listen, I appreciate the question. She’s been great,” he said of Ms. Swift’s support, before adding “We had a nice visit with President Biden last year, but that’s about as far as I can go with that.”

NFL Commissioner Roger Goodell had on Monday laughed off the claims as the run-up to Sunday’s Super Bowl between Kansas City and San Francisco has been dominated by stories surrounding the relationship between the world’s biggest pop star and the Chiefs player.

While Mr. Goodell said the “Taylor Swift effect” is positive for the league, the singer has become a target for allies of former President Donald Trump, with some spreading conspiracy theories that her relationship with Mr. Kelce was part of an NFL plan to get Mr. Biden back into the White House.

“I don’t think I’m that good of a scripter — or anybody on our staff,” laughed Mr. Goodell. “Listen, there is no way I could have scripted that one, let’s put it that way.”

Ms. Swift backed Mr. Biden in 2020 and while she has not announced support for any candidate ahead of this year’s election some Republican party supporters are convinced she will use the Super Bowl spotlight to call on her army of fans, known as “Swifties,” to vote Democrat.

Vivek Ramaswamy, who dropped out of the presidential race last month before throwing his support behind Mr. Trump, said in January on the social media platform X: “I wonder who’s going to win the Super Bowl next month.”

“And I wonder if there’s a major presidential endorsement coming from an artificially culturally propped-up couple this fall. Just some wild speculation over here, let’s see how it ages over the next 8 months.”

WAGER $23.1 BILLION
The first Super Bowl at Las Vegas will see an estimated $23.1 billion wagered in the United States on Sunday’s game between the Kansas City Chiefs and San Francisco 49ers, according to the American Gaming Association (AGA).

The AGA also estimates that 67.8 million American adults will have a financial stake in the game in some form, with the rise of online betting fueling a $16-billion increase in wagering from last year’s Super Bowl.

A total of $23.1 billion is expected to be on the line for Super Bowl LVII.

The group’s survey showed that 47 percent of will wager on the defending champion Chiefs, while 44 percent will have a wager on the 49ers.

According to DraftKings, as of Tuesday, the 49ers were two-point favorites, with an over/under on total points at 47.5.

The most popular access point for wagering on Sunday’s game will be to bet online, with 46 percent of the 67.8 million participants taking that route. The number is equal to 26 percent of the United States population.

Casual wagering friends is listed at 36 percent, while a mere 11 percent will wager at a physical sportsbook.

Online wagering is expected to increase by 41 percent from last year’s Super Bowl, while casual wagering is projected to be up 32 percent.

Traditional wagering (online, sportsbook, bookie) is expected to be ahead of casual wagering (friends, pools, square contests) for the second consecutive year.

Messages about responsible wagering have reached the masses, with AGA reporting that 75 percent of traditional Super Bowl betters have reported seeing a message on responsible wagering in the past year. — Reuters

Four weigthlifters vying to join Obiena, Marcial in July’s Paris Olympics

ROSEGIE RAMOS -- REUTERS

IF THE STARS align, there is a strong chance the Philippines will have four weightlifters in this July’s Paris Olympics.

“We have around four lifters who will represent us in the Paris Olympics, barring no injuries to all of these four,” said Samahang Weightlifting ng Pilipinas President Monico Puentevella.

Mr. Puentevella was referring to Rosegie Ramos, Vanessa Sarno, John Fabuar and one between Tokyo Olympics gold medalist Hidilyn Diaz-Naranjo and another Olympian Elreen Ando.

The 20-year-old Ms. Ramos has practically planted a foot in Paris after zooming to the top five in her women’s 49-kilogram division after she recently struck silver and bronze in the Asian Championships in Tashkent, Uzbekistan.

The Zamboanga City native would just need another solid effort in another Olympic-qualifying event in Phuket, Thailand next month to join pole-vault star EJ Obiena and Tokyo boxing bronze winner Eumir Marcial, who already booked their tickets to Paris.

Ms. Sarno, 20, for her part, is also seeing action in Tashkent and if she does well there, she too would close in on that glorious slot to the quadrennial games.

The same goes with Mr. Fabuar, who also hails from Cebu like Ms. Ando.

For Ms. Ando, who had a couple of silver in Tashkent, she is battling Diaz-Naranjo tooth and nail for that hotly contested spot in the women’s 59kg class as only one slot is allowed per division per country in the Olympics.

And it will boil down to how Ms. Ando, who slightly trails Ms. Diaz-Naranjo, will perform in Bangkok.

“As of now, Hidilyn (Diaz-Naranjo) leads by a small margin,” said Mr. Puentevella, who thanked the Philippine Sports Commission, SM Group of Companies and the MVP Sports Foundation for financing the Tashkent trip. — Joey Villar

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