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Speaker supports admin’s jobs push

House Speaker Ferdinand Martin G. Romualdez — PHILIPPINE STAR/KRIZ JOHN ROSALES

A CONGRESSMAN on Wednesday voiced support for the Marcos administration’s push to spur job creation, pledging to pursue a legislative agenda aligned with the administration’s development priorities.

In a statement, Leyte Rep. Ferdinand Martin G. Romualdez said he would pursue measures aimed at enabling workers to reskill to better fit future job markets, while also ensuring ample funding for the Labor department and the government’s trade authority to boost employability.

“Strong economic growth is only possible if no Filipino is left behind,” he said. “We must make every opportunity — from skills training to dignified employment — within reach of every hardworking citizen.”

The Philippines’ unemployment rate dropped to 3.9% in May from 4.1% in April, as the number of jobless Filipinos declined to 2.03 million from 2.06 million during the same period.

“We will strengthen President Marcos’ initiatives to create more jobs by working together with foreign investors and the private sector,” said Mr. Romualdez. — Kenneth Christiane L. Basilio

GSIS signs P1-B deal with PSALM, NPC

GSIS FACEBOOK PAGE

THE GOVERNMENT Service Insurance System (GSIS) has signed a memorandum of agreement with the Power Sector Assets and Liabilities Management Corporation (PSALM) and the National Power Corporation (NPC) to settle over P1 billion in unremitted premium contributions arising from NPC’s 2003 restructuring.

“This is a significant day for the former 1,233 employees and their families who have lost their jobs in the course of privatization. Now, we are able to restore the benefits that the law granted to them with the cooperation of PSALM and GSIS. We commit to disbursing the benefits to the qualified beneficiaries in the most expedient and efficient way,” NPC President and Chief Executive Officer (CEO) Fernando Martin Y. Roxas said in a statement late on Tuesday.

The signing followed the ceremonial turnover of the check held earlier on June 17.

“The settlement covers the full restructured obligation for qualified former NPC employees, whose service periods have been validated by the Commission on Audit. GSIS also granted a 60% condonation on accrued interest in accordance with board-approved guidelines,” GSIS said.

GSIS will now proceed with the re-computation and crediting of service periods, allowing eligible claimants to receive their corresponding retirement and insurance benefits.

“Together we made it happen—the shared responsibility of PSALM, NPC and GSIS manifested in this ceremonial signing reflects the common commitment to fiscal responsibility, legal prudence and social justice,” PSALM President and CEO Dennis Edward Dela Serna said. — Aaron Michael C. Sy

VP trial should proceed despite polls

VICE-PRESIDENT SARA DUTERTE-CARPIO — FACEBOOK.COM/MAYORINDAYSARADUTERTEOFFICIAL

THE SENATE must proceed with Vice-President Sara Duterte-Carpio’s ouster trial despite a public opinion poll saying that nearly half of Filipinos disagreed with her impeachment, a lawmaker said on Wednesday.

Pollster Social Weather Stations (SWS) on Tuesday reported that 42% of Filipinos disagreed with the impeachment complaint against Ms. Duterte, 32% agreed, while about 18% were undecided. The remaining 7% said they were not knowledgeable on the matter, it said in a statement on its website.

“Regardless of the result of the survey, we have a constitutional duty that we must face,” Batangas Rep. Gerville R. Luistro told reporters in mixed English and Filipino, based on a statement released by the House of Representatives. “There is nothing more supreme than the Philippine Constitution, because it is the mandate of the people.”

Congressmen overwhelmingly voted to impeach Ms. Duterte in February over accusations ranging from budget anomalies to plotting the assassination of President Ferdinand R. Marcos, Jr. his wife and the House Speaker. She has denied any wrongdoing.

Ms. Luistro, a member of the House prosecution team for the impeachment trial, said the Vice-President should be tried by the impeachment court despite the SWS survey results as the 1987 Constitution mandates it.

She also pushed back against accusations that Ms. Duterte’s impeachment is political persecution.

“If there’s no evidence, that’s political prosecution. But if there is evidence, then that’s legitimate prosecution,” Ms. Luistro said. “As far as we are concerned, we have ample and strong evidence supporting the seven Articles of Impeachment.” — Kenneth Christiane L. Basilio

PSE index surges to 6,500 level on positive data

PHILIPPINE STAR/KRIZ JOHN ROSALES

STOCKS rallied for the third straight day on Wednesday, with the bellwether index climbing to the 6,500 level for the first time in nearly two months, as strong data improved sentiment towards the Philippine economy.

The benchmark Philippine Stock Exchange index (PSEi) surged by 1.1% or 70.74 points to close at 6,504.34, while the broader all shares index rose by 0.88% or 33.45 points to 3,817.62.

This was the PSEi’s best finish in nearly two months or since its 6,551.81 close on May 14.

“The market continued to rally backed by investors’ confidence towards the local economy,” Philstocks Financial Inc. Research Manager Japhet Louis O. Tantiangco said in a Viber message. “This comes following the recently released economic figures, which were deemed healthy, including the labor force survey, monthly integrated survey of selected industries, and bank lending data for the month of May.”

“The PSEi gained for the third straight trading day… after US President Donald J. Trump signaled openness to trade negotiations, with possible compromise in terms of much lower tariff rates, as seen in recent months,” Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

He said the Philippines is “relatively insulated” from the threat of higher US import tariffs given its lower dependence on goods exports. Mr. Ricafort added that the strong data released recently affirm the country’s resilience.

Stock markets around the Asia-Pacific were mixed as investors digested Mr. Trump’s latest, shifting trade salvos, Reuters reported. Japan and South Korea are among major US trading partners in the region facing an Aug. 1 deadline to reach a trade deal or be subjected to new tariff rates, although Mr. Trump has sent mixed signals on how flexible that date is.

Only two US agreements, with Britain and Vietnam, have been reached since Mr. Trump’s April 2 “Liberation Day” reciprocal tariffs announcement roiled markets.

Majority of sectoral indices closed in the green on Wednesday. Services went up by 2.51% or 53.66 points to 2,183.89; property climbed by 2.37% or 57.61 points to 2,480.25; industrials rose by 1.08% or 98.59 points to 9,215.54; and holding firms increased by 0.93% or 52.64 points to 5,691.54.

Meanwhile, financials dropped by 0.77% or 17.44 points to 2,248.54; and mining and oil slipped by 0.05% or 4.92 points to 9,194.78.

“Bloomberry Resorts Corp. was the day’s top index gainer, jumping 5.78% to P4.76. China Banking Corp. was the worst index performer, dropping 2.32% to P65.40,” Mr. Tantiangco said.

Value turnover rose to P7.79 billion on Wednesday with 1.41 billion shares traded from the P6.96 billion with 1.06 billion issues exchanged on Tuesday.

Advancers bested decliners, 110 versus 90, while 50 names were unchanged.

Net foreign selling increased to P220.66 million on Wednesday from P168.05 million on Tuesday. — Revin Mikhael D. Ochave with Reuters

Peso weakens anew vs dollar as markets await clarity on Trump tariffs

BW FILE PHOTO

THE PESO weakened against the dollar on Wednesday after US President Donald J. Trump said he would announce higher tariff rates on more countries as well as levies on other goods such as copper, semiconductors and pharmaceuticals.

The local unit closed at P56.57 per dollar, dropping by 22 centavos from its P56.35 finish on Tuesday, Bankers Association of the Philippines data showed.

The peso opened Wednesday’s session weaker at P56.55 against the dollar. Its worst showing was at P56.625, while its intraday best was at P56.48 versus the greenback.

Dollars exchanged dropped to $1.39 billion on Wednesday from $1.67 billion on Tuesday.

“The dollar-peso closed higher on renewed tariff threats from the US. The market is also awaiting the release of FOMC (Federal Open Market Committee) minutes tonight,” a trader said by phone. “There was also some profit taking when it (the peso) breached P56.60.”

The local unit was also dragged by higher global crude oil prices overnight amid renewed geopolitical concerns, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

For Thursday, the trader expects the peso to move between P56.40 and P56.80 per dollar, while Mr. Ricafort sees it ranging from P56.45 to P56.70.

The dollar strengthened to a more than two-week high against the yen on Wednesday as US President Donald J. Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners, Reuters reported.

The greenback advanced against major peers on Tuesday after Mr. Trump’s latest threats of tariffs that are now due to start on Aug. 1, although he later said he was open to extensions if countries made proposals. 

Mr. Trump said on social media that there would be announcements on Wednesday regarding “a minimum of 7 countries having to do with trade,” without specifying any details.

He also threatened a 50% tariff on imported copper and said he would soon introduce long-threatened levies on semiconductors and pharmaceuticals.

Despite recent gains, the dollar index, which measures the greenback against six major peers, is still down more than 6% since Mr. Trump on April 2 unveiled his sweeping “Liberation Day” reciprocal tariffs, which prompted a sell-off in markets but were later mostly postponed to give time to negotiate bilateral trade deals.

The dollar firmed 0.1% to 146.75 yen after touching 147.19 and has gained 1.5% so far this week — the greenback’s biggest weekly rise since mid-December.

Export-dependent Japan stands out among major US trading partners as being the farthest from a deal, and its currency has taken a beating as time runs out. Multiple rounds of talks have failed to result in a breakthrough, and Japanese policymakers are increasingly focused on a critical upcoming election.

The dollar index was flat at 97.60.

Oil prices edged back from Tuesday’s two-week highs. Brent crude futures were down 22 cents at $69.93 a barrel and US West Texas Intermediate crude fell 23 cents to $68.10 a barrel. — A.M.C. Sy with Reuters

Commissioners’ retirement won’t affect operations, ERC says

THE ENERGY Regulatory Commission (ERC) assured the public that the retirement of two its commissioners will not impact its operations.

“We can assure the public because the three remaining commissioners still constitute a quorum. So there’s no excuse for us to stop or delay operations of the commission,” ERC Chairperson and Chief Executive Officer Monalisa C. Dimalanta told reporters on Monday.

“Aside from that, it’s our duty. It’s our duty to still make sure that the commission functions with just three commissioners,” she said.

The five-member ERC board comprises of commissioners Alexis Lumbatan, Catherine Maceda, Floresinda Baldo-Digal and Marko Romeo Fuentes, all of whom are appointed under the Duterte administration. Meanwhile, Ms. Dimalanta took the helm as the ERC chief in 2022.

The ERC is an independent, quasi-judicial body that enforces the Electric Power Industry Reform Act and its implementing rules and regulations.

Ms. Maceda said that the responsibility as a commissioner provides “a true test to one’s character” as a public servant.

“This is a sector that is in view with public interest. It’s also in view with private sector interest,” Ms. Maceda said.

With various cases being filed with the ERC, she said that there is a need to stake “a well-balanced approach and mindset to the point that you don’t comprise on interest over the other.”

Meanwhile, Mr. Lumbatan said that the electric power industry is now “at a very crucial stage,” signaling importance for the next commissioners and the industry to be characterized by integrity and honesty.

“Because the challenge of a member of the commission is to balance between the interest of the investing entities and protecting the interest of the consumers,” he said.

Mr. Lumbatan said that it would be better for the upcoming commissioners to “hit the ground running” as there would be more major decisions in the coming weeks and months. — Sheldeen Joy Talavera

DFA expands NCR Central Consular Office

THE DEPARTMENT of Foreign Affairs (DFA) expanded and modernized its National Capital Region (NCR) Central Consular Office, located in Robinsons Galleria in Quezon City.

Launched in partnership with Robinsons Land Corporation (RLC) through Robinsons Malls, the DFA upgraded the Consular Office which is now significantly larger with a more streamlined space, according to a media release.

This will allow the DFA to cater to an increased volume of passport and consular service applications.

On its first day of operation, the NCR Central Consular Office processed more than 115 passport applications.

“The opening of the DFA NCR Central office at Robinsons Galleria is part of DFA’s ongoing initiative to improve service quality and workplace conditions,” said DFA-Office of Consular Affairs Assistant Secretary Ma. Antonina M. Mendoza-Oblena during her keynote speech.

Also present during the launch were Quezon City Rep. Franz S. Pumaren, Quezon City Vice-Mayor Gian Carlo G. Sotto, DFA Consular Office Coordinating Division Acting Director Atty. Manuel C. Ayap, and CO NCR Central Head Maria Luisa L. Remulla.

Representing RLC were Joel S. Lumanlan, Vice-President for Operations and Marketing; Irving L. Wu, External Affairs Director; and Jose Luis Aliling, Corporate Affairs Director.

11 more BIFF members surrender in Maguindanao del Sur

COTABATO CITY — Eleven more members of the outlawed Bangsamoro Islamic Freedom Fighters (BIFF) pledged allegiance to the government on Wednesday morning and promised to help units of the Army’s 6th Infantry Division convince their few remaining companions to return to the fold of law.

Major Gen. Donald M. Gumiran, commander of the 6th ID, told reporters on Wednesday that the 11 BIFF members renounced their membership with the group during a symbolic rite at the headquarters of the 90th Infantry Battalion in Barangay Kabengi in Datu Saudi Ampatuan, in the presence of local officials and representatives of different government agencies.

The 11 terrorists surrendered through the joint intercession of local executives in Maguindanao del Sur’s adjoining Datu Abdullah Sangki, Datu Unsay, Datu Hoffer, Shariff Aguak, Datu Saudi Ampatuan and Ampatuan municipalities, officials of the 90th IB, the 6th Civil Military Operations Battalion and the 601st Infantry Brigade.

Mr. Gumiran said officials of municipal police stations in the six towns and other units of the Maguindanao del Sur Provincial Police Office under Brig. Gen. Jaysen De Guzman, director of the Police Regional Office-Bangsamoro Autonomous Region, were also instrumental in the surrender of the group.

The 11 BIFF members, among them experts in fabrication of improvised explosive devices, first turned over their combat weapons and home-made explosives.

The Labor department in region 12 and the office of Bangsamoro Labor and Employment Minister Muslimin G. Sema have joint capacity-building interventions meant to ensure the productivity of erstwhile members of the allies BIFF and the Dawlah Islamiya while being reintegrated into mainstream society.

The surrender of the 11 BIFF members brought to 921 the number of local terrorists who have yielded since 2021. — John Felix M. Unson

PHL fielding 1,600-strong team in 33rd SE Asian Games in Thailand

FACEBOOK.COM/SOUTHEASTASIANGAMES2025

WITH full backing from the government, the Philippines is fielding in its biggest delegation to date in the 33rd Southeast Asian (SEA) Games set Dec. 9 to 20 in Thailand — a 1,600-strong squad mostly coming from team sports.

“This is our biggest SEA Games delegation,” said Philippine Olympic Committee President Abraham Tolentino.

The number, which will see action in 574 events in 50 sports, is almost double that the country sent in the Phnom Penh edition two years ago at 905 of 38 disciplines. The biggest squad the country sent before this one bound for Thailand came six years ago when the country hosted the biennial event and sent 1,115 athletes that battled in 56 sports.

The PhilCycling chief stressed the massive spike was because the country decided to join more team events outside the traditional ones like basketball, football, and volleyball.

“Even winter sports were there,” said Mr. Tolentino, referring to ice hockey and ice skating.

Despite the significant increase that would also accrue additional expenses, Philippine Sports Commission Chair Patrick Gregorio vowed to give its unwavering support to the national team.

“We just finished our board meeting and saw a lot of requests concerning the SEA Games and we are prioritizing those, whether it’s training or international exposure,” he added. — Joey Villar

Farm Fresh Foxies acquire Ces Molina, Riri Meneses; Mars Alba to Choco Mucho

CES MOLINA (left) and Riri Meneses (right) — FACEBOOK.COM/FARMFRESHFOXIES

JUST like that, the Farm Fresh Foxies have become serious Premier Volleyball League (PVL) contenders.

And it was signed, sealed and delivered via the recent acquisitions of power couple Ces Molina and Riri Meneses in what could turn out the biggest recruiting coup in the league this season.

It also ended the guessing game as to where the talented and battle-scarred duo was headed after leaving former club Cignal midway through the All-Filipino Conference early this year.

Ms. Molina, a former league MVP, explained it was for family reasons that she left her former team for greener pasture.

In Farm Fresh, Mmess. Molina and Meneses will reunite with former Cignal teammates Rachel Daquis and Jheck Dionela and should make instant impact as soon as they see action in the ongoing PVL on Tour.

Also making a big splash from the free agent pool was Akari, which plucked former Choco Mucho setter Mars Alba. — Joey Villar

TNT’s Brandon Rosser and Jordan Heading bent on making the most of their first PBA Finals

JORDAN HEADING (left) and BRANDON ROSSER (right)

IT’S their first PBA finals rodeo and TNT’s Brandon Ganuelas-Rosser and Jordan Heading are bent on making the most of it.

After watching the Tropang 5G retain the Governors’ Cup crown then annex the Commissioner’s Cup diadem in the sidelines while recovering from ACL injury, Mr. Rosser gets much thrill from finally doing on-court duties as they vie for the grand slam clinching championship in the Philippine Cup.

For Mr. Heading, it’s a great opportunity to score his PBA breakthrough only a month after joining TNT from Converge in a blockbuster swap late in the eliminations.

“It feels good to finally be contributing. I was on the sidelines for so long watching and encouraging the guys and to actually be out there contributing on the court, playing in games, it’s just special,” said Mr. Rosser, who returned from his long layoff in the season-ending conference.

“We have a special group so any part, big or little, I can be in. I’m just grateful,” he added.

The 6-foot-6 Mr. Rosser has emerged as a premier big man for coach Chot Reyes’ squad, producing 11 points, 7.7 rebounds and 1.83 blocks per night in their 4-2 disposal of Rain or Shine in the semifinals.

With the exit of Jayson Castro and Rey Nambatac, TNT’s Finals MVP in the first and second conference, respectively, Mr. Heading ably filled the team’s need for an elite playmaker.

And this was most evident in the Final Four, where the Filipino-Australian sniper fired 23 in leading the Tropang 5G to a 3-1 lead on a 108-92 Game 4 romp then outdid himself in a 29-point explosion to spark their Game 6 closeout, 97-89.

“I’m thankful to be in this position with these guys and to be learning from them,” said Mr. Heading, who is only on his second conference in the PBA.

“They have experience that I don’t have yet, of winning all these championships. And so I’m just trying to learn, listen, and try and follow the boys who’ve already done it and just try and help out wherever I can,” he added.

TNT will face either old rival Barangay Ginebra or San Miguel Beermen in the race-to-four Last Dance beginning on Sunday. The Gin Kings, who were runners-up to the Tropang 5G twice in Season 49, and the Beermen, who were second placers behind Meralco in the last All-Filipino, were slated to dispute the other finals ticket in a Game 7 last night. — Olmin Leyba

No scares for Alcaraz as he blazes past Norrie into Wimbledon semis

CARLOS ALCARAZ — WIMBLEDON.COM

LONDON — Carlos Alcaraz had warned that facing Cameron Norrie could be a nightmare. For a fleeting moment on Tuesday, it looked like the defending Wimbledon champion might be in for a fright.

The Spaniard stumbled early, trailing 0-40 in his opening service game on Centre Court. Any chance of an upset, however, was swiftly dashed as Alcaraz roared to a commanding 6-2, 6-3, 6-3 quarterfinal victory — one that should send a shudder down the spine of anyone hoping to dethrone him.

With hundreds of empty seats at the start — fans still trickling back after Aryna Sabalenka’s drawn-out quarterfinal — Alcaraz wasted no time asserting his dominance.

By the time the crowd returned to rally behind Britain’s last remaining singles hope, the second seed had blazed through the first set in 28 minutes, dazzling with his trademark blend of power and flair.

Norrie, unseeded and unorthodox, did his best to resist. He even raised his arms in mock celebration after holding serve late in the third set.

But the outcome was never in doubt. Alcaraz, now on a 23-match winning streak, was simply too good.

Alcaraz’s eighth Grand Slam semifinal will be against American Taylor Fritz but before he continues his quest for a third successive Wimbledon title he has two days off owing to the All England Club schedule.

He would probably prefer to get straight back on court, such is the momentum he is building. When asked how he would use the time, one wag in the crowd suggested he could return to the Ibiza, the Balearic party island where he let his hair down after his second successive French Open title last month.

MORE SEDATE
A beaming Alcaraz said something more sedate would suffice.

“I might try to go to the city centre if I have time. I want to play some golf with my team which will be fun,” he said.

“What I have been doing so far has worked so we will try to switch off together.”

Former semifinalist Norrie was the second British player Alcaraz has faced during this year’s tournament having seen off qualifier Oliver Tarvet in the second round.

Tarvet stretched him far more than left-hander Norrie, but that was during a first week in which the five-times Grand Slam champion was working through the gears.

Any hope Norrie had of becoming only the third British player to knock out the defending Wimbledon men’s champion were soon extinguished by the Spanish force of nature.

Having failed to convert four break points in the second game, Norrie gifted away his serve with double-fault and two games later his tentative volley allowed Alcaraz to wind up a ferocious dipping forehand that smacked the baseline.

Alcaraz had blown a hot and cold in his previous matches, but it is now the business end of the tournament and the rest of the match became a procession as he wrapped up his 34th win from 37 matches he has played on grass.

“To be able to play another semifinal here at Wimbledon is really special,” Alcaraz said. “I want to go as far as I can and I am really happy with the level I played today against a really difficult player like Cam.” — Reuters

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