Additional SUC funding sought

October 7, 2024 | 9:17 pm

A SENATOR on Monday said he will seek P3 billion in additional funding for state universities once the Senate takes up the proposed 2025 national budget to prevent possible budgetary shortfalls that could hamper free college education implementation.

Senator Sherwin T. Gatchalian said budgetary deficits for state colleges next year could impede the hiring of teachers, and procurement of teaching equipment, and sidetrack the construction of new facilities for a conducive learning environment.

“The SUCs (State Universities and Colleges) are asking for an additional P3 billion, so we’ll just take a small portion from the P591.8 billion allocated for aid programs to cover the needs for free higher education,” he said in a statement in mixed English and Filipino.

“Maybe later on we can ask the Chairperson of the Finance Committee if we can take a little from the aid funds,” he added, referring to indigent financial programs under the Social Welfare, Health, and Labor departments.

State colleges are set to receive P113.7 billion in appropriations for next year, according to the 2025 National Expenditure Program.

In September, 39 presidents of SUCs appealed for Congress to restore a P14.48 billion budget cut to their schools, which they say could affect their operations for next year, according to a unity statement published on X by Kabataan Party-list. — Kenneth Christiane L. Basilio

Milk feeding program transfer eyed

October 7, 2024 | 9:16 pm

THE National Dairy Authority (NDA) on Monday said that it is studying the transfer of the milk feeding program from the Department of Education (DepEd) to streamline milk procurements.

“That is what we are studying right now to return procurement of milk used in the milk feeding program (under our agency),” NDA Administrator Marcus Antonius T. Andaya said in an interview with reporters.

The milk feeding program is an interagency project aimed at delivering milk to students and providing income to local dairy farmers. The program is also in partnership with the Philippine Carabao Authority.

“If the DepEd transfers the program, it would probably be during the next school year. Then the NDA would handle the procurement for the milk feeding program, “ he added.

Mr. Andaya said that the NDA has already met with Education Secretary Juan Edgardo “Sonny” M. Angara with regards to transferring control of the program.

This is in response to a letter by National Federation of Dairy Farmers and Stakeholders’ Association President Danilo V. Fausto which called for the return of the national milk feeding program to the NDA.

He said that delegating the program to the NDA would relieve DepEd staff and public school teachers of administrative duties and allow them to concentrate on their teaching mandate. — Adrian H. Halili

BIR confiscates illicit cigarettes

October 7, 2024 | 9:15 pm

THE Bureau of Internal Revenue (BIR) on Monday said it has seized illicit cigarettes worth P8.06 billion in foregone taxes following a raid in Pampanga.

In a statement, the agency said the illegal cigarettes were found after four large-scale manufacturers were raided in Clark, Pampanga.

“A total of P8.06 billion in tax liability has been initially computed by the BIR, due to its discovery of illicit cigarettes and unregistered machines,” the bureau said in a statement.

In terms of tax liability, this has been the largest raid conducted by the agency since 2022.

The manufacturers raided in Clark are being investigated for violation of the National Internal Revenue Code, particularly for the unlawful possession or removal of articles subject to excise tax, among others.

Last month, the bureau also caught illicit cigarettes with P838 million in tax liabilities found in warehouses in Quezon City and Caloocan. In August, the BIR also seized around 5,385 illicit vape products in a festival in Las Piñas.

“The BIR will continue to strengthen its efforts against illicit cigarette trade, wherever it is located,” BIR Commissioner Romeo D. Lumagui, Jr. was quoted as saying.

To catch the revenues from excisable products like tobacco products, the agency said it will target both small- and large-scale manufacturers of illegal cigarettes, Mr. Lumagui noted.

Beginning June 1, the agency mandated that all vape products sold in the country be marked with revenue stamps to signify tax compliance.

The BIR is aims to collect P152.4 billion in excise tax from tobacco products this year. — Beatriz Marie D. Cruz

LMP chief eyes congress seat

October 7, 2024 | 9:14 pm

BANGUED, ABRA — League of Mayors of the Philippines (LMP) national president Joseph Sto. Niño “JB” B. Bernos is seeking his return in his home province — Abra — as a lawmaker.

Filing his candidacy on Sunday under the Lakas Christian and Muslim Democrats (Lakas CMD), Mayor Bernos has teamed up with former Abra Governor Eustaquio Bersamin, who is running for the gubernatorial post under Partido Federal ng Pilipinas.

“I have much of unfinished commitments with the people of Abra (in the House of Representatives),” the LMP National president said.

Incumbent Abra Rep. Ching B. Bernos is the first nominee of the party list group Solid North, which filed its bid in the 2025 party list elections Thursday last week.

“With our tandem, in no time, Abra will become the most improved province in the Cordillera and the whole Northern Luzon.” Mr. Bersamin said. — Artemio A. Dumlao

Baguio Rep. Go to run for mayor

October 7, 2024 | 9:14 pm

Baguio-view-2018-PHILSTAR-FILE-A — PHILSTAR FILE PHOTO

BAGUIO CITY — Incumbent lawmaker Mark O. Go is challenging Mayor Benjamin B. Magalong in the mayoral race as he filed his certificate of candidacy (CoC) on Monday.

Mr. Go said that it is a very tough decision to run for mayor of the city and claimed he answered the call of the people of the city.

He said Baguio citizens urged him to run recognizing the need for a Baguio City Mayor who has an effective and uncompromising public service record.

According to Go, Baguio deserves a government that puts Baguio and its people first, with zero tolerance for corruption and true good governance.

“I will prioritize Baguio and continue to walk the talk. We will do this with the same competence, speed, compassion, and integrity that have defined my years in Congress,” Mr. Go said.

Mr. Magalong has been heralding good governance beyond politics since he sat as Baguio Mayor.

Mr. Go led members of his Team “Maka-Baguio Tayo” in filing their respective CoCs before the Commission on Elections at the Baguio Convention and Cultural Center. He was joined by his running mate for vice mayor, Maria Mylen Victoria G. Yaranon. — Artemio A. Dumlao

Lanao del Sur clash kills 3 NPAs

October 7, 2024 | 9:13 pm

COTABATO CITY – Patrolling soldiers killed in a brief clash in Kapai, Lanao del Sur on Sunday, three members of the New People’s Army collecting “protection money” at gunpoint from hapless villagers.

Officials of the Lanao del Sur Provincial Police Office and the Army’s 55^th Infantry Battalion separately confirmed to reporters on Monday that the three NPAs belonged to the terror group’s self-styled North Central Mindanao Regional Committee, whose top leaders are wanted for high-profile criminal cases pending in different courts in the Bangsamoro region and in Region 10.

Reports received on Monday by senior officials of the Police Regional Office-Bangsamoro Autonomous Region, which has jurisdiction over Lanao del Sur, stated that the encounter between the NPAs and personnel of the Army’s 55^th IB in Sitio Bagong Silang in Barangay Malna in Kapai left three other guerillas wounded, seen by villagers being carried away from the scene by retreating companions.

The Army team that clashed with the NPAs was dispatched to Sitio Bagong Silang after barangay officials reported to the Kapai Municipal Police Station and the 55^th IB the presence of gunmen in the area, forcing villagers to shell out money.

A number of villagers who had no cash were forced to provide them rice and chickens, according to local officials.

Soldiers found four assault rifles beside the cadavers of the three NPAs and improvised explosive devices in their bags. — John Felix M. Unson

PSEi ends above 7,500, posts near five-year high

October 7, 2024 | 9:00 pm

PHILIPPINE SHARES surged to the 7,500 level on Monday to post their best close since January 2020 as inflation slowed to an over four-year low in September, giving the central bank space to bring down borrowing costs further.

The bellwether Philippine Stock Exchange index (PSEi) rose by 1.16% or 86.76 points to 7,554.68 on Monday, while the broader all shares index climbed by 1.02% or 41.32 points to 4,082.97.

Monday’s finish was the PSEi’s best close in almost five years (over 56 months) or since it ended at 7,587.63 on Jan. 27, 2020.

The main index also reached an intraday high of 7,604.61 during Monday’s session.

“Strong buying interest, including net foreign inflows of P1.35 billion, propelled the market to its highest close since Jan. 27, 2020, as investors reacted to the combination of a surprisingly low Philippine headline inflation and a positive US jobs report,” Chinabank Capital Corp. Managing Director Juan Paolo E. Colet said in a Viber message.

“The local market rose further this Monday. Investors continued to cheer the significant slowdown of the Philippines’ inflation last September as it strengthens the case for further monetary policy easing by the Bangko Sentral ng Pilipinas (BSP),” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco likewise said in a Viber message. “Hopes that the Fed will also deliver more rate cuts also spurred optimism.”

Philippine headline inflation slowed to 1.9% in September from 3.3% in August and 6.1% a year ago, the government reported on Friday.

This was the slowest pace seen in over four years or since the 1.6% print in May 2020. It was also below the BSP’s 2%-2.8% forecast for the month and the 2.5% median estimate yielded in a BusinessWorld poll of 15 analysts.

Analysts have said the improving inflation outlook will give the BSP more than enough room to further reduce benchmark rates.

BSP Governor Eli M. Remolona, Jr. last week said the Monetary Board can deliver a 25-basis-point (bp) cut at its Oct. 16 meeting, followed by another at its Dec. 19 meeting.

The BSP in August cut benchmark borrowing costs by 25 bps to kick off its easing cycle, bringing its policy rate to 6.25%.

Majority of sectoral indices ended higher on Monday. Property went up by 2.04% or 60.64 points to 3,025.70; services rose by 1.89% or 43.48 points to 2,337.06; industrials climbed by 1.21% or 120.79 points to 10,054.26; and holding firms increased by 1.2% or 76.34 points to 6,405.78.

Meanwhile, financials dropped by 0.46% or 11 points to 2,382.77, and mining and oil lost 0.39% or 35.57 points to end at 9,042.29.

Value turnover rose to P7.87 billion on Monday with 1.36 billion shares traded from P6.14 billion with 792.47 million issues exchanged on Friday.

Advancers outnumbered decliners, 129 to 79, while 49 names ended unchanged.

Net foreign buying surged to P1.35 billion on Monday from P607.93 million on Friday. — R.M.D. Ochave

Peso sinks to seven-week low on Fed rate bets

October 7, 2024 | 9:00 pm

THE PESO sank to a near two-month low against the dollar on Monday due to dimming expectations of another large rate cut by the US Federal Reserve after strong jobs data released last week and the escalating conflict in the Middle East.

The local unit closed at P56.825 per dollar on Monday, dropping by 53 centavos from its P56.295 finish on Friday, Bankers Association of the Philippines data showed.

This was the peso’s worst close in more than seven weeks or since it finished at P57.245 per dollar on Aug. 16.

The peso opened Monday’s session sharply weaker at P56.64 against the dollar. It traded lower than Friday’s close the entire session as its intraday best was at just P56.58, while its worst showing was at P56.84 versus the greenback.

Dollars exchanged went down to $1.295 billion on Monday from $1.51 billion on Friday.

“The dollar strengthened due to escalating geopolitical tensions in the Middle East and after the higher US nonfarm payroll report last Friday, easing bets of a 50-basis-point (bp) rate cut by the Fed,” a trader said by phone.

Higher global crude prices due to conflict in the Middle East dragged the peso down, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort added in a Viber message.

For Tuesday, the trader sees the peso moving between P56.50 and P57 per dollar, while Mr. Ricafort expects it to range from P56.70 to P56.90

The US dollar edged down on Monday after a rally sparked by Friday’s strong US jobs data and an escalation in the Middle East conflict, Reuters reported.

The dollar’s gains followed a US jobs report that showed the biggest jump in six months in September, a drop in the unemployment rate and solid wage rises, all pointing to a resilient economy and forcing markets to reduce pricing for Federal Reserve rate cuts.

Many of the factors that weighed on the greenback through the summer had reversed, analysts said, mentioning fading recession concerns and a price action suggesting the limits of pricing a dovish reaction function have been reached with this dataset.

The dollar index measure against major peers was down 0.05% at 102.48. It rose 0.5% on Friday to a seven-week high, logging more than 2% gains for the week, its biggest in two years. It was slightly above 100 early last week.

Markets expect the Federal Reserve to cut rates by just 25 bps in November, rather than 50 bps, following the jobs data. They now price in a 95% chance of a quarter point cut, up from 47% a week ago, and a 5% chance of no cut at all, according to CME’s FedWatch tool

In the Middle East, Israel bombed Hezbollah targets in Lebanon and the Gaza Strip on Sunday ahead of the one-year anniversary of the Oct. 7 attacks that sparked its war. Israel’s defense minister also declared all options were open for retaliation against arch-enemy Iran. — A.M.C. Sy with Reuters

FEU stalwart Velarde rules PHL Amateur Chess Championships

October 7, 2024 | 7:31 pm

FAR EASTERN UNIVERSITY’S (FEU) John Jerish Velarde isn’t giving up on his dream of becoming a grandmaster (GM) like Daniel Quizon.

And the 18-year-old Far Eastern University stalwart from Lapu Lapu, Cebu made a significant step towards it after topping the Philippine Amateur Chess Championships at the Robinson’s East in Pasig over the weekend.

Mr. Velarde, who earned the National Master title when he was just 12 years old in the 19^th ASEAN Age Group tilt in Davao, bested Ricardo Batcho in the seventh and final round to rule the three-day event with 6.5 points.

For his feat, Velarde pocketed the top purse worth P25,000 courtesy of fellow NM Srihaan Poddar and earned 91.6 rating points to leapfrog from 1902 before to 1993.6.

While he still has mountains to climb before becoming a GM like Mr. Quizon, Mr. Velarde, with more hard work and sacrifices, vowed to be relentless in pursuit of it.

Christian Marcelo Olaybal waylaid Johnny Wellem Carzano and then edged John Lee Antonio and Jones Maghuyop with the highest tiebreaker to claim second place with six points.

Mr. Antonio, who trounced Narciso Gumila, Jr., took third spot while Mr. Maghuyop, who bested Carlo Magno Rosaupan, ended up fourth also with six points apiece.

Rounding out the top 10 were Mr. Batcho, Tristan Cervero, Edwin Tendencia, Mar Aviel Carredom, Carzano and Lance Nathaniel Orlina with April Joy Claros of Far Eastern University and Alwin Sopungco taking the top woman and senior plums, respectively.

The tournament is part of the country’s bid to allow Fiipino players FIDE rating points for a chance at earning international title norms. — Joey Villar

Beermen vs Gin Kings kickstarts PBA Governors’ Cup semifinals; TNT clashes with Rain or Shine

October 7, 2024 | 7:30 pm

Games on Wednesday
(PhilSports Arena)
5 p.m. – San Miguel vs Ginebra (Semifinals Game 1)
7:30 – Rain or Shine vs TNT (Semifinals Game 1)

THE PBA Governors’ Cup semifinal stage is upon us and for the last four teams standing, it’s time to dial up the performance and effort levels to 11.

On one hand, it’s defending champion TNT against Rain or Shine (ROS) in an explosive clash of squads that emerged as topnotchers in the two groups of the eliminations. On the other, there’s Barangay Ginebra against San Miguel Beer, sister teams but fierce rivals when it comes to chasing greatness.

While TNT and ROS meet for the first time in the conference having been slotted in different brackets pre-playoffs, the Gin Kings and the Beermen have faced twice before in Group B, where they finished 2 and 3 behind the Elasto Painters.

Ginebra prevailed in the first round, 108-102, then the Beermen struck back hard with a 131-82 rout in Round 2, which marked both the largest winning margin ever for SMB and the most lopsided loss in franchise history for the crowd darlings Gin Kings.

Beermen coach Jorge Gallent quickly dismissed any notion of psychological edge from this 49-point beatdown of the Gin Kings.

“That’s a thing of the past,” Mr. Gallent said after completing the semifinal cast with a tight 109-105 victory over Converge in Sunday’s Game 5 di-or-die.

“This is back to zero. It’s a series so now it’s adjustments, adjustments,” he added.

The Beermen averted a disastrous meltdown after blowing a 2-0 lead and even trailing by eight in the fourth of the decider against the FiberXers. This kind of showing, stressed Mr. Gallent, won’t suffice against the Tim Cone-coached Ginebra, which swept Philippine Cup holder Meralco, 3-0.

“It’s well-coached and it has great players so we just have to play our A-game for us to have a chance to beat them.”

Like SMB, the Elasto Painters went through a grueling five-game quarterfinal series before marching versus TNT, which advanced earlier after a 3-1 dispatching of NLEX.

“We’re playing a tough team and they’re the defending champions,” said ROS coach Yeng Guiao.

TNT counterpart Chot Reyes tasked his troops to continue sharpening up, especially on defense.

“The only way we can go deeper into the playoffs is if everyone on the team really elevates their game. What got us here will not get us to where we want to be,” he said. — Olmin Leyba

CSB Blazers eye quick turnaround against dangerous JRU Bombers

October 7, 2024 | 7:29 pm

College of St. Benilde Blazers — COLLEGE OF ST. BENILDE BLAZERS — FACEBOOK.COM/NCAA.ORG.PH

Games on Tuesday
(MOA Arena)
11 a.m. – CSB vs JRU
2:30 p.m. – San Beda vs Mapua
5 p.m.- SSC-R vs EAC

COLLEGE of St. Benilde (CSB) aims to recover from a sudden loss of confidence in the couple of games as it shoots to keep its loosening grip of the lead against a dangerous Jose Rizal University (JRU) on Tuesday in NCAA Season 100 at the Filoil EcoOil Arena.

The CSB Blazers have played horrendously in their last two outings, escaping past the San Sebastian College-Recoletos Stags, 96-94, in overtime Tuesday and succumbing to the Arellano University Chiefs, 73-71, Friday that saw it from being alone at the helm to now sharing it with the Mapua University Cardinals on 6-2 slates.

They battle the JRU Bombers, who improved to 3-5 with a 75-63 win over the Emilio Aguinaldo College (EAC) Generals on Saturday, at 11 a.m. Tuesday with nothing in mind of getting the win that will seal them the No. 1 spot entering the second and last round.

But JRU coach Louie Gonzales vowed to give CSB a run for its money.

“We will do our best to give them a fight,” said Mr. Gonzales.

Mapua University, for its part, will try to keep close to the lead, if not snatch it entirely, as it tangles with defending champion San Beda University (SBU) (5-3) in a 2:30 p.m. showdown that could be a sneak preview of this year’s finale.

The Cardinals will bring with them a three-game streak that they capped with a 77-71 win over the EAC Generals Wednesday while the SBU Red Lions have been on a two-game roll following squeakers over the Colegio de San Juan de Letran Knights, 66-64, Tuesday and the University of Perpetual Help Altas, 63-62, Saturday.

Reigning MVP Clint Escamis vowed to serve San Beda, their conquerors from last season’s finals, a dish best served cold — vengeance.

“We’ve been looking forward to this match after we lost to them in the finals last year,” said Mr. Escamis.

Meanwhile, EAC (3-5) and SSC-R (2-6) will try to resuscitate its waning Final Four campaign as the two collide at 5 p.m. — Joey Villar

Unlikely hero Chad Ryland kicks Cardinals past 49ers

October 7, 2024 | 7:28 pm

CHAD RYLAND, recently on the Arizona Cardinals’ practice squad, kicked in place of injured Matt Prater and made a 35-yard field goal with 1:37 left in a 24-23 comeback victory over the San Francisco 49ers at Santa Clara, Calif.

Kyler Murray directed the game-winning drive, which covered 75 yards in 14 plays. Murray finished 19 of 30 passing for 195 yards and a touchdown with one interception. He added 83 yards with another touchdown on the ground.

San Francisco coach Kyle Shanahan was 38-0 in his career with the 49ers when leading by at least 10 points entering the fourth quarter before Sunday’s loss. Brandon Aiyuk led all receivers with 147 yards on eight receptions.

Both teams played a majority of the game with backup placekickers.

Prater was ruled inactive before the game with a knee injury, and Ryland, who was with the New England Patriots last year, came on to make three field goals Sunday (30, 42, 35).

San Francisco’s Jake Moody injured his right leg when trying to make a tackle of DeeJay Dallas following a kickoff with 4:59 left in the second quarter.

Mitch Wishnowsky, a punter, kicked his first career field goal, a 26-yarder, as time expired in the second quarter, giving the 49ers a 23-10 lead.

Fullback Kyle Juszcyk was the holder because Wishnowsky is the regular holder.

Ryland’s game-winning field goal was set up after San Francisco turned the ball over deep in Arizona territory. On a first-and-goal play at the Arizona 8 with 6:20 left, San Francisco’s Jordan Mason fumbled on a hit by Kyzir White and Jesse Luketa. Luketa recovered at the Arizona 9.

Murray went to work, and on a fourth-and-5 situation from the Arizona 40, Kylar Murray backpedaled to avoid the rush and connected with Marvin Harrison for 14 yards to keep the drive alive.

First down runs by Murray and James Conner preceded Ryland’s game-winner.

San Francisco’s final possession ended with Brock Purdy throwing a pass that was intercepted by White.

Purdy was 14 of 29 for 244 yards with a touchdown and two interceptions.

Arizona cut the lead to 23-21 with 11:25 left after Murray engineered a 12-play, 73-yard drive that took 6:27. Murray’s 2-yard touchdown pass to Elijah Higgins was followed by James Conner’s 2-point conversion run.

Murray kicked off the scoring with a 50-yard TD run on Arizona’s first possession of the game.

The 49ers responded with a 28-yard field goal and a Purdy to George Kittle 4-yard touchdown. Arizona tied it up on Ryland’s first field goal, but Moody put San Francisco up 13-10 with a 20-yarder.

San Francisco took a 20-10 lead with 4:59 left in the second quarter when Ryland’s 45-yard attempt was blocked by Jordan Elliott. Deommodore Lenoir recovered the ball and returned it 61 yards for a touchdown. — Reuters