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Peso hits near one-month low

BW FILE PHOTO

THE PESO declined to a near one-month low against the dollar on Tuesday with the US Federal Reserve set to start a two-day policy meeting overnight, where it could provide more hints on the timing of their planned rate cuts.

The local unit closed at P58.645 per dollar on Tuesday, weakening by 13.4 centavos from its P58.511 finish on Monday, Bankers Association of the Philippines data showed.

This was the peso’s worst close in almost a month or since its P58.725-a-dollar finish on July 3.

The peso opened Tuesday’s session weaker at P58.60 against the dollar. It traded lower than its Monday close the entire session, as its intraday best was at just P58.58, while its worst showing was at P58.695.

Dollars exchanged rose to $1.23 billion on Tuesday from $924.41 million on Monday.

The peso weakened against the dollar as the market awaits the Fed’s policy review, a trader said by phone.

“The Fed is widely expected to hold interest rates unchanged, but the forward guidance of Fed Chair Jerome H. Powell will be watched as it could affect the local central bank’s next policy setting,” the trader said.

The US central bank will hold its policy meeting on July 30-31. It has kept its target rate at the 5.25%-5.5% range since July 2023.

Meanwhile, the Bangko Sentral ng Pilipinas will hold its own review on Aug. 15, where it is anticipated to announce its first rate cut in over three years.

The peso dropped amid the seasonal increase in remittances ahead of the new school year, higher importation before the fourth quarter and ahead of the start of the ghost month, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added in a Viber message.

The ghost month is a period in the Lunar calendar when some Asian investors refrain from making big investments or decisions, resulting in lower trading volumes in financial markets.

For this year, the period is scheduled to start on Aug. 4 and end on Sept. 2.

For Wednesday, the trader sees the peso moving between P58.30 and P58.80 per dollar, while Mr. Ricafort expects the peso to range from P58.55 to P58.75. — A.M.C. Sy

Highlanders Paalam, Bacyadan hoping to hit Paris Games heights

CARLO PAALAM — OLYMPICS.COM

PARIS — Carlo Paalam starts another chase of Olympic glory while Hergie Bacyadan makes her debut in the world’s ultimate sporting competition Wednesday, carrying the pride of their folks back home.

In climbing the ring at the North Paris Arena, Mr. Paalam is to show his stuff as a warrior from the highlands of Talakag, Bukidnon while Ms. Bacyadan brings in the heart and soul of a Kalinga fighter.

Mr. Paalam, silver medal winner as a 52kg. competitor in Tokyo in 2021, slugs it out with Ireland’s Jude Gallagher in the afternoon session to kick off his Paris journey in the 57kg class.

In the Japanese capital, Mr. Paalam was also up against an Irish in his opening bout, and he was up to the task, scoring a 4-1 split decision over Brendan Irvine.

Meanwhile, Ms. Bacyadan is booked to battle in the evening, facing tall odds versus top seed Li Qian of China, bronze medalist in Rio in 2016 and silver winner in Tokyo.

Ms. Li is a bemedaled boxer but Ms. Bacyadan surely can’t be taken for granted as she’s not new to the art of fighting though in different disciplines — wushu and vovinam.

The Kalinga warrior had her previous shift from one sport to another, and she found success.

She hopes the same in her shift to boxing.

“Best gift if I fulfill my dream,” said Ms. Bacyadan, silver winner at the 2017 Wushu World Championships then winner of the ultimate prize in vovinam just last year.

Carlo Paalam and Hergie Bacyadan are both Filipino highlanders hoping to go high in these Games. — Nelson Beltran  

Yulo vies in all-around final of artistic gymnastics

CARLOS EDRIEL P. YULO

PARIS — From a three-day breather, Carlos Yulo returns to action Wednesday as among 24 participants in the all-around final of the 2024 Olympics artistic gymnastics competition at the Bercy Arena here.

As mere ninth placer in the qualifying round, Mr. Yulo isn’t among the top podium contenders.

But keen eyes will be on the Filipino bet as he performs his pet events.

It will be preview to what could well be Mr. Yulo’s great Paris moment in floor exercise and vault in the weekend.

The all-around championship is expected to be a showdown among the Chinese and Japanese aces with Fil-British bet Jake Jarman considered as a dark horse.

Daiki Hashimoto has a shot at becoming the third Japanese to be back-to-back champ in this event. Sawao Kato achieved the feat in 1968 and 1972, then Kohei Uchimura replicated it in 2012 and 2016.

Shinnosuke Oka is another Japanese contender in the all-events topped by Boheng Zhang of China in the qualifying, with compatriot Ruoteng Xiao coming at fourth.

Also in the mix in the final are Great Britain’s Joe Fraser, Ukraine’s Oleg Verniaiev and Illia Kovtun, Italians Yumin Abbadini and Mario Macchiati, Americans Frederick Richard and Paul Juda, Swiss Matteo Giubellini and Florian Langenegger, Hungarian Krisztofer Meszaros, Australia’s Jesse Moore, the Netherland’s Casimir Schmidt and Frank Rijken, Kazakh Milad Karimi, Brazil’s Diogo Soares, Canada’s Felix Dolci and Rene Cournoyer, and Germany’s Nils Dunkel.

Mr. Zhang had a qualifying score of 88.597 as against Mr. Yulo’s 83.631.

Messrs. Oka scored 86.865, Hashimoto 85.064, Xiao 84.898 and Jarman 84.897. — Nelson Beltran

Diaz presence will inspire Philippine weightlifters

HIDILYN DIAZ — OLYMPICS.COM

PARIS — Hidilyn Diaz is expected to be here during the Paris Games weightlifting competition, and her mere presence would surely be an added boost and inspiration to the Philippine bets.

“Her presence will definitely add much-needed inspiration to all our athletes competing in these Games especially that we have a very good start in this Olympics,” said Philippine Sports Commission Chairman Richard Bachmann.

“While she may not currently be participating in the Olympics as an athlete, her legacy is set to continue especially after inaugurating a weightlifting academy in the Philippines… on July 26, the very day she clinched the first gold of the nation… for the benefit of our grassroots athletes,” Mr. Bachmann added.

Ms. Diaz will forever be the Philippines’ golden girl with her breakthrough gold-medal feat in Tokyo in 2021, an inspiration not just for the weightlifters but for every Filipino athlete.

She missed a fifth Olympic appearance but is expected to grace the Paris Games as a member of the International Weightlifting Federation Athletes Commission.

She may be in the competition hall as John Febuar Ceniza competes in the men’s 61kgs on Aug. 7, Elreen Ando in women’s 59kgs on Aug. 8 and Vanessa Sarno in women’s 71kgs on Aug. 9.

With Ms. Diaz in the Athletes Commission are Maude Charron (Canada), Luisa Peters (Cook Islands), Marie Hanitra Roilya Ranaivosoa (Mauritius), Yasmin Zammit Stevens (Malta), Fares Ibrahim El-bakh (Qatar), David Liti (New Zealand), Forrester Osei (Ghana), Cyrille Tchachet II (United Kingdom), and Keydomar Giovanni Vallenilla Sanchez (Venezuela).

They are serving their term until the Electoral Congress that takes place in the Paris Games.

Ms. Diaz’ journey is one for the books, with the Filipina competing in four Olympics — 12th placer in 2008 in Beijing, DNF (did not finish) in London in 2012, silver winner in 2016 in Rio and finally the gold in 2021 in Tokyo. — Nelson Beltran

Djokovic survives wobble to ease past Nadal

PARIS — Serbia’s top-seeded Novak Djokovic overcame a brief bout of nerves in the second set before beating 14-times French Open champion Rafael Nadal 6-1 6-4 at the Paris Olympics on Monday and moving into the third round.

His counterpart in the women’s draw, world number one Iga Swiatek of Poland had an even easier morning, crushing France’s Diane Parry 6-1 6-1 to book her own third round spot.

While Mr. Djokovic remains in the hunt for his elusive Olympic gold, Spain’s Mr. Nadal now has only the doubles competition left to add to his two Olympic gold medals, partnering Carlos Alcaraz. Mr. Djokovic led 6-1 4-0 before a Nadal comeback attempt that saw him briefly level 4-4.

“I was just very proud to be part of this match and … I wanted to do my job on the court and really execute the game plan as much as I possibly can,” Mr. Djokovic said.

Mr. Alcaraz was also in action in the singles but was never seriously pressured in his 6-1 7-6 victory over Dutch opponent Tallon Griekspoor. Eighth-seed Stefanos Tsitsipas punched his ticket for the next round, with the Greek finding even less resistance in his 6-1 6-2 victory over Britain’s Daniel Evans.

Sixth seed Casper Ruud of Norway was made to work harder in his three-set win over Italy’s Andrea Vavassori.

In the women’s draw Ms. Swiatek was joined in the next round by Czech Barbora Krejcikova, the new Wimbledon champion, who advanced with a straight sets victory over China’s Wang Xinyu as did American Coco Gauff, beating Argentine Maria Lourdes Carle 6-1 6-1.

But all eyes were on the Nadal-Djokovic showdown with the crowd desperate to see the world’s best claycourt player make one last one run in Paris even though his best playing days are long behind him.

At age 37, Mr. Djokovic, with 24 Grand Slam singles titles to Nadal’s 22, has remained more competitive than his injury-plagued opponent. He left nothing to chance in a flawless display over a set and a half. — Reuters

New look Gin Kings to clash with New Taipei Kings in Macau

JUSTIN BROWNLEE marks his anticipated return while a bevy of new Gin Kings are set for baptism of fire as Barangay Ginebra tests its mettle in the Macau International Basketball Challenge.

Game time is at 8:30 p.m. with the Gin Kings taking on the P. League+ champion New Taipei Kings of Taiwan for a one-game exhibition duel at the Tap Seac Multi-Sports Pavilion.

Mr. Brownlee, the naturalized player of Gilas Pilipinas, returns to his old role as Ginebra’s resident import as part of their preparations for the PBA Season 49 starting with the Commissioner’s Cup on Aug. 18 at the Smart-Araneta Coliseum.

The evergreen import did not play last season due to his FIBA suspension but is expected to strut the same stuff as a six-time PBA champion and three-time Best Import awardee.

And this time around, he will have a different squad with the addition of No. 3 rookie pick RJ Abarrientos, rising star big man Isaac Go, last season’s Rookie of the Year Stephen Holt and slotman Ben Adamos.

In a blockbuster offseason move, Ginebra scooped up Mr. Go and Mr. Holt from Terrafirma in exchange for ace center Christian Standhardinger and veteran guard Stanley Pringle.  Part of the deal that pushed through before the draft was the pick swap between the two teams with Ginebra having a crack at the third pick from the original 10th selection, which went to Terrafirma.

That paved the way for Ginebra tabbing Mr. Abarrientos in the loaded rookie draft class. Mr. Abarrientos already signed a three-year contract the other day to be official on the Ginebra board.

Completing Ginebra’s move to compensate for Christian Standhardinger’s absence was the acquisition of Mr. Adamos from Northport in place of Sydney Onwubere.

In Macau, New Taipei will stand in the way of Ginebra with an equally potent squad led by former NBA player Jeremy Lin and naturalized player Quincy Davis. — John Bryan Ulanday

NLEX signs Policarpio to 3-year deal

NLEX has signed its top pick Jonnel Policarpio to a three-year rookie deal ahead of its final build-up for the PBA Season 49 Governors’ Cup on Aug. 18 at the Smart Araneta Coliseum.

Selected sixth in the loaded rookie draft class earlier this month, Mr. Policarpio officially became a Road Warrior Wednesday after the ceremonial contract signing at the NLEX Corp. office in Caloocan.

Present were NLEX Corp. President J. Luigi L. Bautista, Team Governor Ronald Dulatre, new head coach Jong Uichico and team manager Virgil Villavicencio.

A product of De La Salle University with championships in both the UAAP 3×3 and 5-on-5 events, hopes are high for the versatile 6-foot-5 winger to help NLEX shore up its drive to greater heights this season.

“It will take patience from both sides for Jonnel to realize his full potential. As coaches, we want to be the ones who’ll teach him not just on the court but also off of it. He’ll be an integral part of our team’s future,” said Mr. Uichico, who replaced Frankie Lim as NLEX’s new mentor in the offseason. — John Bryan Ulanday

Hot seat

Over the weekend, Steve Kerr learned the hard way that when it comes to steering Team USA to Gold in the 2024 Summer Games, not even victories will spare him from criticism. Even as he enabled the red, white, and blue to wax Nicola Jokic-led Serbia for their first triumph in group play, the aftermath saw him parrying numerous queries on his in-game decision making. Of interest to hoops habitues, and particularly to Celtics fans, was his choice to keep Jayson Tatum nailed to the bench from start to finish.

“I felt like an idiot,” Kerr replied in seemingly second-guessing the controversial measure. He then assured all and sundry that Tatum would see action in Team USA’s match against South Sudan tomorrow. Not that it quieted the madding crowd. And not that he didn’t set himself up for censure, especially when he revealed immediately after the win over Serbia was secured that it was his plan all along. He even went so far as to disclose that he clued the Celtics stalwart in before tipoff on what was to happen.

The irony is that Kerr has all the right in the world to apportion exposure on the court as he sees fit. It doesn’t matter that he’s the head coach of an aggroupation of the  best of the best in basketball. There are only 200 minutes to divvy up in the course of an Olympics set-to, and it’s not as if he needs a stop watch to make sure that he is equitable in his actions. In this connection, it bears noting that Tatum wasn’t the only victim of the time crunch. Fellow National Basketball Association All-Star Tyrese Haliburton likewise rode pine, although, creditably, no hint of bitterness from the latter was apparent at any point during the contest.

In any case, Kerr knows the bottom line. His ultimate objective isn’t to make very body around him happy. It’s to do all that he needs to make sure that Team USA meets lofty expectations. And if it means a few bruised egos en route, so be it. He knows only too well the burden of being in the hot seat, and far be it for him to be swayed by the opinions of armchair experts and the emotions of his charges.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Manila to get $500M in US military aid; Marcos meets Blinken, Austin

PHILIPPINE President Ferdinand R. Marcos, Jr. meets with US Secretary of State Antony Blinken and US Defense Secretary Lloyd Austin III at the presidential palace in Manila. The president on Tuesday said regular engagements between Manila and Washington were needed to ensure “agile” responses to sea tensions with China. — PPA POOL

By Kyle Aristophere T. Atienza, Reporter

THE PHILIPPINES will get about $500 million (P29.3 billion) in military aid from the United States, according to the US Defense department, as the two countries held defense and foreign policy dialogues amid growing tensions in the South China Sea.

The aid will be funded by a national security package that the US Congress passed in April to boost the security of America’s partners, the agency said in a statement on Monday.

“This unprecedented provision of security assistance, which is an order of magnitude greater than what we’ve recently provided to the Philippines on an annual basis, will be a critical enabler of the Philippine defense modernization already under way,” it said.

US President Joseph R. Biden, who signed the National Security Supplemental bill into law in April, had said it would help American allies “defend themselves against threats to their sovereignty and to the lives and freedom of their citizens.”

In a statement, Bagong Alyansang Makabayan (Bayan) described the aid as “self-serving,” saying the US would use it to build more “US military facilities within the country” and “procure surplus weapons from the US itself.”

In April, Republican Senator Bill Hagerty and Democrat Senator Tim Kaine pushed a bill that increased US military aid for the Philippines to $500 million from $40 million over five fiscal years through 2029.

US Senator Christopher Coons told Philippine media in May that he did not sign the bill as a co-sponsor due to “some debate about the absorption capacity of the Philippine military.”

The Philippines, one of the weakest in the world in terms of military capability, is important to Washington’s efforts to push back against China, which claims the South China Sea almost in its entirety.

US Secretary of State Antony Blinken and US Defense Secretary Lloyd Austin III met with President Ferdinand R. Marcos, Jr. at the presidential palace in Manila on Tuesday.

Mr. Marcos told the two that regular engagements between Manila and Washington were needed to ensure “agile” responses to maritime tensions with China.

Ties between Washington and its treaty ally Manila have dramatically improved since Mr. Marcos replaced Rodrigo R. Duterte, who was openly hostile to the US and tried to bring the Philippines closer to China during his six-year term.

Mr. Marcos greeted Mr. Blinken and Mr. Austin at the Malacañan Palace ahead of meetings with their Filipino counterparts, the first such meetings hosted by the Philippines.

“I’m always very happy that these communication lines are very open so that all the things that we are doing together, in terms of our alliance, in terms of the specific context of our situation here, in the West Philippine Sea and in the Indo-Pacific, are continuously examined and re-examined so we are agile in terms of our responses,” he said.

The Philippines has competing claims with China in the waters to its west also known as the South China Sea. China claims 90% of the sea as its sovereign territory.

Tensions in the disputed waterway have boiled over into violence in the past year, with a Filipino sailor losing a finger in a June 17 clash that Manila described as “intentional high-speed ramming” by the Chinese Coast Guard.

Manila turned down US offers of assistance for its operations at sea. It reached a “provisional arrangement” with China this month to ease tensions and manage differences, but the two sides appear at odds over the details of the deal, which has not been made public.

‘STEADY DRUMBEAT’
State Department spokesman Matthew Miller said Mr. Blinken and Mr. Austin discussed with Mr. Marcos “their shared commitment to upholding international law in the South China Sea.”

“The two secretaries underscored the United States’ ironclad commitments to the Philippines under our Mutual Defense Treaty,” Mr. Miller said in a statement after the meeting.

The talks showed “a steady drumbeat, a very high level of engagements between our countries,” Mr. Blinken told the Philippine leader, citing Washington’s security and economic partnerships with Manila.

The US shares the Philippines’ concerns about escalatory actions China has taken in the South China Sea, Mr. Blinken said after he and Mr. Austin met with Philippine Foreign Affairs Secretary Enrique A. Manalo and Defense Secretary Gilberto Eduardo C.  Teodoro, Jr. later in the day.

The US officials’ meeting with their Philippine counterparts was held more than a month after Mr. Marcos, Mr. Biden and Japanese Prime Minister Fumio Kishida held a three-way meeting at the White House.

The 2+2 meeting also came a week after the Philippines and China supposedly the temporary arrangement over Manila’s resupply missions to Second Thomas Shoal in the South China Sea.

Mr. Marcos in February last year gave the US access to four more military bases on top of the five existing sites under their 2014 Enhanced Defense Cooperation Agreement.

Three of the four new sites are in the northern Philippine provinces of Cagayan and Isabela, while one is on Balabac Island in Palawan, which is facing the South China Sea.

The meetings in Manila followed talks between Mr. Blinken and Mr. Austin and their counterparts in Japan, another key US ally in East Asia, where they announced an upgrade of the US military command in Japan and labeled China the “greatest strategic challenge” facing the region.

Mr. Blinken also met on Monday with Foreign ministers from Australia, India and Japan, a grouping known as the Quad, and decried China’s actions in the South China Sea.

The US top diplomat met Chinese Foreign Minister Wang Yi in Laos on Saturday and criticized Beijing for actions regarding Taiwan and the Philippines.

China’s Foreign ministry hit back at Washington and Tokyo for attacking what it called China’s “normal military development and national defense policy” and accused the Quad of “artificially creating tension, inciting confrontation and containing the development of other countries.” — with Reuters

Public Works dep’t eyes 5,000 flood projects this year

PILIPPINE STAR/MIGUEL DE GUZMAN

THE DEPARTMENT of Public Works and Highways (DPWH) on Tuesday said more than 5,000 flood mitigation projects would be implemented across the country this year, after dozens died in floods caused by Super Typhoon Carina and the southwest monsoon rains.

These are on top of the 5,521 flood control projects completed between July 2022 and May 2024, which President Ferdinand R. Marcos, Jr. reported in his third address to Congress, Public Works Secretary Manuel M. Bonoan told a news briefing.

“The recent heavy rainfall has underscored the importance of our flood control projects,” Mr. Bonoan said.  “If not for these interventions, parts of Metro Manila could have seen worse flooding.”

He said drainage systems struggle to cope with Metro Manila’s rising population, now at  more than 13 million. Its population density is 21,000 people per square kilometer.

“The population of Metro Manila has surpassed its carrying capacity,” Mr. Bonoan said. “We have limited space.”

Lawmakers have vowed to investigate the government’s flood-control projects after houses and people mostly in Metro Manila and nearby provinces were swept away by raging flood waters last week.

The Marikina River reached as high as 20 meters. Its water level rose to 21.5 meters during the 2009 devastation of Typhoon Ondoy, which killed more than 700 people, and to 22 meters during 2020’s Typhoon Ulysses, which killed about 100 people.

Speaker Ferdinand Martin G. Romualdez last week said the House of Representatives would look into the government’s flood management budget to determine if it had been spent properly.

Funding for flood mitigation projects will remain in the proposed 2025 national budget, he added.

Senate President Francis “Chiz” G. Escudero said legislators should work to determine why — over a decade after Typhoon Ondoy — “chronic, severe flooding continues to afflict the nation’s capital.”

He said this year’s budget for flood-control projects was “disproportionately large” compared with other critical sectors.

It far exceeded the allocations for irrigation (P31 billion) and even the capital outlay budgets of the Department of Agriculture (P40.13 billion) and Department of Health (P24.57 billion), he pointed out.

The DPWH allocated P244.5 billion for its flood management program this year, according to a copy of the proposed 2024 General Appropriations Act. It allotted P104.7 billion for the construction and maintenance of flood mitigation structures.

At the same briefing, Metropolitan Manila Development Authority Chairman Romando S. Artes described the capital region’s drainage system as “antiquated.”

It needs to be updated especially amid the worsening effects of climate change, he said, adding that “the water level will be higher in our oceans and typhoons are stronger.”

Mr. Bonoan said 70% of Metro Manila’s internal drainage system is silted with waste. “These need to be rehabilitated and upgraded.”

The MMDA said in April last year that its proposed 50-year drainage master plan had been approved by the World Bank, which will provide a loan.

Mr. Artes said the agency was still awaiting the loan.

The Philippines’ disaster agency on Tuesday said the death toll from the combined effects of Typhoon Carina (Gaemi) and the southwest monsoon had hit 39 and that the number of affected people had risen to 4.8 million.

The agency said 109,083 of the affected 4.84 million people, three million of whom were in Central Luzon, were staying in evacuation centers.

Damage to infrastructure hit P4.26 billion, with Central Luzon accounting for P1.6 billion of the total. Farm losses hit P5 billion. — Kyle Aristophere T. Atienza

PHL won’t stop ICC probe of drug war — solicitor general

PHILIPPINE STAR/JOHN FELIX M. UNSON

By Chloe Mari A. Hufana

THE GOVERNMENT of Philippine President Ferdinand R. Marcos, Jr. would not stop the International Criminal Court (ICC) from interviewing officials believed to have aided the state’s deadly drug war, according to the solicitor general.

“[The Philippines] has no legal duty to lend any assistance to the ICC prosecutor in conducting his investigation,” Solicitor-General Menardo I. Guevarra told BusinessWorld in a Viber message. “But the government cannot stop him from proceeding any way he wants.”

Former Senator Antonio F. Trillanes IV earlier posted a document in his X account naming the five police officials, including Senator Ronald “Bato” M. dela Rosa. The lawmaker was ex-President Rodrigo R. Duterte’s national police chief who led his anti-illegal drug campaign from 2016 to 2022.

“He can directly interview persons of interest online, through the phone, by e-mail, or face-to-face, subject to the consent of these persons,” Mr. Guevarra said. “But the ICC prosecutor cannot expect that the Philippine government will facilitate it for him.”

“What’s new? My name has always been mentioned since 2016,” Mr. De la Rosa said last week. “Seems like a broken record that keeps on repeating the same lines.”

Mr. Marcos, Jr. earlier this year ruled out state cooperation in the ICC probe, which he said violates Philippine sovereignty.

In his third State of the Nation Address before Congress on July 22, he affirmed the country’s “functioning judicial system.”

In January 2023, the ICC authorized the reopening of the inquiry after it was suspended in November 2021.

The tribunal’s Appeals Chamber in July 2023 also junked the government’s petition against the resumption of the probe.

About 12,000 people died in Mr. Duterte’s drug war, according to Human Rights Watch.

There have only been four known convictions of erring cops in the drug war.

House OKs medical weed bill

CRYSTALWEED CANNABIS-UNSPLASH

THE HOUSE of Representatives on Tuesday approved on final reading a bill that seeks to legalize medical cannabis.

In a 177-9-9 vote, congressmen agreed to amend the Comprehensive Dangerous Drugs Act of 2002 by allowing the use of medical marijuana for treatment of patients with cancer, epilepsy and post-traumatic stress disorder, among other ailments.

House Bill No. 10439 will create a medical marijuana regulatory body under the Health department. It will monitor the importation, cultivation, manufacture, storage, distribution, prescription, dispensation and sale of medical cannabis by authorized hospitals, clinics, drugstores accredited dispensaries.

The chamber also approved in a 200-1-0 vote House Bill No. 10424, which will regulate motorcycle taxis for public transportation.

The Land Transportation Franchising and Regulatory Board (LTFRB) will regulate the operations of motorcycle taxis in areas not covered by digital platforms providing the service, according to the bill. It also allows local governments to create transport route plans for motorcycle taxis. — Kenneth Christiane L. Basilio