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PHL, Slovenia to sign labor deal

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FOREIGN Affairs Secretary Enrique A. Manalo on Tuesday said that Slovenia and the Philippines are set to sign a memorandum of understanding on labor cooperation, following a meeting with Slovenian Foreign Minister Tanja Fajon.

“The Philippines and Slovenia will sign a Memorandum of Understanding (MoU) on Labor Cooperation during the Employment Forum organized by the Department of Migrant Workers (DMW),” he said in a statement.

“This MoU represents our shared advocacy for safe, orderly, and regular migration,” he added.

The Philippine foreign affairs chief did not provide details on the MoU.

Mr. Manalo had met with Ms. Fajon, who is on her first visit to the Philippines, to discuss the strengthening of their trade and investment cooperation.

“In addition, we will continue our cooperative activities in other sectoral areas, such as space, science and technology applications, nuclear energy, maritime education, training, sports, and labor,” Mr. Manalo said.

Ms. Fajon is joined by Slovenian business delegation, engaged in mobility, manufacturing, food and beverage, information and communication technology, science and technology, and hospitality. 

Mr. Manalo said that the meeting aims to encourage and promote “collaboration between our Chambers of Commerce and Industry, and between Philippine and Slovenian businesses.”

The delegation is set to meet with Philippine businesses during the Slovenia-Philippines Business Forum on March 12.

In a separate release, the DMW said that the MoU seeks to safeguard the rights of Filipino workers in alignment with the legal standards of both countries.

“The agreement details the responsibilities of Slovenian employers in relation to the recruitment of Filipino workers, emphasizing the necessity for ethical practices and adherence to applicable laws,” the agency said.

The DMW added that deal aims to facilitate the exchange of knowledge and expertise in labor policies, workforce development, and other areas pertinent to both countries’ economies.

The agreement also covers facilitation of the visa processes for Filipino workers in Slovenia and the certification and recognition of Filipino workers’ skills and qualifications. — Adrian H. Halili

Probe of budget graft suit halted

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THE OMBUDSMAN has stopped its probe on a suit accusing key leaders of the House of Representatives, including Speaker Ferdinand Martin G. Romualdez, of falsifying legislative documents and graft, as a similar case is under Supreme Court review.

In a nine-page resolution dated March 7, Ombudsman Samuel R. Martires suspended further criminal investigation on the complaint filed by Duterte allies against the House leadership while junking a separate motion seeking their suspension.

“In the wink of an eye, common sense will remind any student of the law that judicial courtesy dictates that the quasi-judicial body should, and must yield and await the decision of the High Tribunal before acting on the case pending before it,” a part of the ruling by Mr. Martires stated.

A complaint was filed last month accusing House leaders of falsifying documents and committing graft over alleged P241-billion insertions in this year’s national budget. A similar challenge was raised with the Supreme Court, accusing the bicameral conference committee of submitting a budget with blank line items. 

“The alleged criminal liability of respondents Romualdez, et al., that is raised in the herein Complaint, refers also to the same blank line items in the Bicam Report that is the subject of the petition for Certiorari and Prohibition,” the resolution stated.

“If the Supreme Court declares RA No. 12116 unconstitutional and finds illegal the alleged insertions of P241 billion, then the Ombudsman shall correspondingly act on the criminal complaint,” it added. — Kenneth Christiane L. Basilio

Korean nabbed for human trafficking

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THE National Bureau of Investigation (NBI) nabbed a Korean man and his accomplices in Angeles City, Pampanga, on charges of human trafficking, it said on Tuesday.

In a statement, the agency said it rescued 12 victims, including five minors, who were allegedly being trafficked and exploited for entertainment services in a local club.

The probe was triggered by a complaint from the husband of one of the victims, who accused recruiters of illegally deploying women to Korea as performers without proper permits from the Philippine Overseas Employment Administration.

Authorities later uncovered that the scheme was a front to lure victims into working at an Angeles City club, where they were allegedly offered as models and entertainers for foreign patrons, with hotel check-ins as part of the arrangement.

The suspect was taken into custody following an operation led by the NBI-Bataan District Office, in coordination with the Philippine National Police and the agency’s Human Trafficking Division.

He and his associates were charged under the Expanded Anti-Trafficking in Persons Act of 2022 and the Special Protection of Children Against Abuse, Exploitation, and Discrimination Act.

They were presented for inquest proceedings before the Angeles City Prosecutor’s Office. — Chloe Mari A. Hufana

CHR backs changes to Safe Spaces Act

THE Commission on Human Rights (CHR) has welcomed proposed amendments to the Safe Spaces Act, expanding protections against gender-based sexual harassment across a broader range of public and digital spaces.

“The proposed amendments to the Safe Spaces Act are a crucial step toward ensuring that all spaces, whether physical or digital, urban or rural, remain safe and inclusive for everyone,” it said in a statement on Tuesday.

Enacted in 2019, the Safe Spaces Act aims to combat sexual harassment in streets, workplaces, schools, and recreational areas.

The Senate Bill No. 2897 significantly broadens its coverage by explicitly including rural settings such as farms, fields, coastal areas, and multi-purpose halls.

It also introduces legal definitions for new forms of harassment, notably the concept of grooming — defined as a predatory pattern of behavior aimed at establishing trust with minors for the purpose of sexual abuse or exploitation.

As the country’s Gender and Child Ombud, the CHR emphasized the importance of the bill in holding perpetrators accountable, particularly for offenses against women, children, and LGBTQIA+ individuals.

In recognition of evolving threats, the bill acknowledges the role of artificial intelligence and emerging technologies in facilitating gender-based online sexual harassment.

Additionally, it grants victims the right to seek protection orders to prevent further violations, offering a broader range of legal remedies than the original law. — Chloe Mari A. Hufana

Peso rebounds as US slowdown fears hit dollar

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THE PESO rebounded against the dollar on Tuesday as recession fears in the United States weighed on the greenback.

The local unit closed at P57.225 per dollar on Tuesday, strengthening by 18.5 centavos from its P57.41 finish on Monday, Bankers Association of the Philippines data showed.

The peso opened Tuesday’s session weaker at P57.45 against the dollar, dropping to as low as P57.50 intraday, reflecting market volatility. Meanwhile, its intraday best was at P57.20 versus the greenback.

Dollars exchanged rose to $1.38 billion from $815.69 million on Monday.

“The peso closed higher as the market reacted to concerns over the US economy due to softer US data recently and the appreciation of European currencies,” a trader said in a phone interview.

The yen was investors’ safe harbor of choice on Tuesday and it touched a five-month high as fears about a tariff-driven slowdown in US economic growth have rattled US stocks and the dollar, Reuters reported.

The Nasdaq fell 4% overnight and the S&P 500 slid 2.7% as equities caught up with what bonds and currencies have been saying for weeks: US growth is going to slow down.

The yen made a five-month peak of 146.55 per dollar before steadying around 147.24. China’s yuan also rose, ticking 0.2% higher to 7.2426 per dollar.

Other moves in the foreign exchange market were more muted, and analysts noted that a lot of the shifts in currencies had already happened. The dollar is down more than 7% from a six-month high it hit in January versus the yen and the greenback’s apparently dulled luster as a safe-haven coincides with a big rally in the euro and a broader re-think of how tariffs and a trade war play out in foreign exchange markets.

The risk-sensitive Australian dollar was a modest loser on Monday and loitered around its 50-day moving average at $0.6266 on Tuesday. Sterling was holding on above its 200-day moving average at $1.2875 and the euro was steady just above $1.08.

The Canadian dollar and Mexican peso are actually stronger since US President Donald J. Trump hit the two countries with 25% tariffs. Europe’s common currency is riding high on German plans to borrow and spend on defense and infrastructure.

The turmoil in equities was triggered by a Trump Fox News interview, in which the president talked about a “period of transition,” dashing investor bets he would back away from his aggressive policies.

The dollar index, however, had a hard time rallying and was mostly flat as small rises against the Aussie and sterling were offset by losses on the yen, leaving it at 103.8.

Meanwhile, the peso was also supported by the recent decline in global crude prices, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

Oil prices fell for a second day on Tuesday on worries that US tariffs would slow economies around the world and hurt energy demand while OPEC+ ramps up its supply, Reuters reported.

Brent futures fell 0.65% to $68.83 a barrel, while US West Texas Intermediate crude futures lost 0.82% to $65.49 a barrel.

For Wednesday, the trader expects the peso to move between P57.10 and P57.50 per dollar, while Mr. Ricafort sees it ranging from P57.10 and P57.30. — AMCS with Reuters

PSEi snaps winning run amid US recession fears

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PHILIPPINE STOCKS snapped their six-day winning streak on Tuesday, joining the decline in global markets, amid recession fears in the United States.

The Philippine Stock Exchange Index (PSEi) dropped by 2.42% or 154.22 points to close at 6,206.55 on Tuesday, while the broader all shares index fell by 1.71% or 64.33 points to 3,684.59.

“The local bourse broke its six-day rally, weighed by negative spillovers from Wall Street. This comes amid recession fears in the US driven by their tariff policies,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Philippine shares were sold down, fueled by investor worries that uncertainty surrounding tariff policies could lead the global economy into a recession. Concerns about the US have been escalating over the past month and was amplified by recent comments from the White House,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

Emerging market (EM) stocks remained under pressure on Tuesday, as concerns over a US economic slowdown which could lead to a recession weighed on equities, Reuters reported.

MSCI’s index for EM stocks was down 0.4% by 0832 GMT, with South Korean shares closing more than 1% lower, though a higher close in China and Hong Kong helped offset some losses.

Wall Street sold off sharply overnight, with the S&P 500 closing down 8.6% from its Feb. 19 record high, shedding over $4 trillion in market value since then and nearing a 10% decline that would represent a correction for the index.

US President Donald J. Trump’s tariff plans have stoked market volatility after the president late last week suspended the 25% tariffs on Canadian and Mexican goods which had come into effect on March 4. He had initially announced tariffs earlier this year and then postponed them by a month to early March.

Over the weekend, Mr. Trump declined to predict whether the US could face a recession, spurring a selloff in risk assets worldwide.

All sectoral indices closed in the red on Tuesday. Property sank by 4.45% or 102.72 points to 2,203.89; services retreated by 3.33% or 70.03 points to 2,031.68; industrials dropped by 2.13% or 189.30 points to 8,692.13; holding firms decreased by 1.77% or 94.02 points to 5,198.99; mining and oil went down by 1.75% or 156.03 points to 8,739.41; and financials declined by 0.78% or 18.63 points to 2,360.10.

“Only three index members closed with gains this Tuesday, led by Bank of the Philippine Islands, climbing 0.68% to P132.80,” Mr. Tantiangco said.

Value turnover rose to P7.71 billion on Tuesday with 753.65 million shares traded from the P6.41 billion with 627.42 million issues exchanged on Monday.

Decliners overwhelmed advancers, 157 versus 58, while 41 names closed unchanged.

Net foreign selling stood at P350.28 million on Tuesday versus the P1.41 billion in net buying seen on Monday. — R.M.D. Ochave with Reuters

NEDA opens Negros Island office

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THE National Economic and Development Authority (NEDA) has inaugurated its new office in the Negros Island Region (NIR) on March 10.

“As an island region, the NIR holds distinct opportunities and needs. The NEDA-NIR office will play a pivotal role in crafting the region’s first Regional Development Plan (RDP) — a blueprint to harness growth, foster resilience, and ensure no community is left behind,” NEDA Secretary Arsenio M. Balisacan said in a statement on Tuesday.

NEDA noted this will be the agency’s 16th regional office.

NEDA will also facilitate the creation of a Regional Development Council following the May elections “to enable a more coordinated approach to policymaking and investment programming in NIR.”

The Republic Act No. 12000, the Negros Island Act, provided for the establishment of the NEDA-NIR Regional Office to ensure effective public service delivery in the region.

The same law consolidated the provinces of Negros Occidental, Negros Oriental, and Siquijor into one administrative region. — Aubrey Rose A. Inosante

P3.5-M drugs seized in Pangasinan

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BAGUIO CITY — Authorities seized P3.57 million worth of crystal meth (shabu) and a .45 caliber pistol from a 57-year-old drug trader, early Tuesday in Urdaneta City, Pangasinan.

Operatives from Philippine Drug Enforcement Agency-Pangasinan and Philippine National Police Drug Enforcement Group Special Operations 1 (PDEG-SOU 1) caught “Odi” at around 2:35 a.m. on Tuesday for selling six pieces of knot-tied plastic, containing suspected shabu weighing more or less 525 grams. A pistol with inside holster, a magazine assembly, seven live ammunitions, mobile phones, several drug paraphernalia, and five bundles of unused plastic sachets were also confiscated from the suspect.

Operatives also seized an identification card and P2,0000 worth of cash in different denominations among other non-drug evidence.

According to PDEA-Region 1 Director Joel B. Plaza, the drug trader, who was taken to the PDEA-Pangasinan provincial office jail facility, will be facing charges for violation of Section 5 (Sale of Dangerous Drugs), Section 12 (Possession of Drug Paraphernalia), Article II of Republic Act No. 9165, the Comprehensive Dangerous Drugs Act of 2002, and RA 10591, the Comprehensive Firearms and Ammunition Regulation Act. — Artemio A. Dumlao

Maguindanao del Sur houses torched

COTABATO CITY — Gunmen burned down on Monday a health center and seven houses in Barangay Malingao in Shariff Aguak, Maguindanao del Sur whose occupants had earlier fled due to a shooting incident.

Municipal officials and barangay leaders told reporters on Tuesday that more than 200 villagers in Barangay Malingao were forced to relocate to safer areas two days before the fire after the same group shot their houses with M16 and M14 assault rifles.

Police investigators and traditional Moro leaders said the arson attack was meant to embarrass re-electionist Mayor Akmad A. Ampatuan, Sr., who is chairman of the multi-sector Shariff Aguak Municipal Peace and Order Council.

Army and police officials said they are investigating the assertions by displaced villagers that their mayor’s bid for a second term is being contested by a candidate who has armed followers that do not belong to either the Moro National Liberation Front, or the Moro Islamic Liberation Front (MILF).

Both fronts have separate peace agreements with the national government.

“Actually, the villagers affected by these troubles are identified with the MILF,” the vice-mayor of Shariff Aguak, Marop B. Ampatuan, said.

Brig. Gen. Romeo J. Macapaz, director of the Police Regional Office-Bangsamoro Autonomous Region, told reporters that intelligence agents from the Maguindanao del Sur Provincial Police Office and personnel of the Shariff Aguak Municipal Police Station are cooperating in identifying the gunmen behind the atrocities for prosecution. — John Felix M. Unson

What is in the ICC warrant against ex-Philippines president Duterte

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THE HAGUE – A 15-page International Criminal Court arrest warrant for Rodrigo Duterte, seen by Reuters and authenticated by an ICC source, outlines the accusations against the former Philippines president over killings in his war on drugs.

Mr. Duterte has long insisted he instructed police to kill only in self-defense and has defended the crackdown.

Here are some key elements in the warrant:

  • The warrant was issued on March 7. It charges Mr. Duterte with murder as a crime against humanity.
  • The document says the judges are satisfied that there are reasonable grounds to conclude the ex-president was at the head of the so-called Davao Death Squad (DDS) and later oversaw Philippines’ law enforcement while in office as president.
  • It says those bodies launched a widespread and systematic attack on the civilian population of the Philippines, targeting alleged criminals especially those thought to be involved in drug trafficking.
  • The warrant says: “The attack took place over a period of several years, and thousands of people appear to have been killed.”
  • The judges said the killings shared common features including the locations, and the methods of killing as well as the profiles of victims and perpetrators.
  • According to the judges there are reasonable grounds to conclude Duterte could be held criminally responsible for the killings of at least 19 alleged drug dealers or thieves by the DDS in Davao city and at least 24 other alleged criminals killed by or under the supervision of members of the Philippines’ law enforcement.
  • The warrant says Mr. Duterte contributed to the crimes by designing the overall project to target alleged criminals, overseeing the DDS and providing them with weapons and ammunition.
  • He is also alleged to have offered financial incentives and promotions to police officers and “hitmen” to kill the suspects, promised immunity to perpetrators and shielded them from investigation and prosecution, the warrant says.
  • The judges also conclude that while the Philippines officially withdrew from the ICC in 2019, the alleged crimes in the warrant took place while Manila was still a member, so the court has jurisdiction over them.

– Reuters

First pharma service project registers with BoI

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THE Philippine unit of Germany’s Glenwood GmbH has opened a new facility in Taguig City, making it the first pharmaceutical services project registered with the Board of Investments (BoI).

“Aimed at supporting pharmaceutical companies globally, Glenwood Services Philippines, Inc. (GSPI) has registered with the BoI as the first pharmaceutical services project in the country,” the BoI said in a statement on Tuesday.

The Taguig facility will offer quality, regulatory affairs, and pharmacovigilance services aimed at helping domestic pharmaceutical companies with safety, risk management, and compliance issues.

According to the BoI, GSPI has generated high-value jobs in the Philippines, including pharmacists, chemists, and medical science graduates.

“We are amazed by the incredible talent in the Philippines. The education, skills, and training here are impressive. We look forward to expanding our Pharmaceutical Services project and growing our presence in the Philippines,” Glenwood General Manager Ferdinand Matz said.

Glenwood also distributes niche pharmaceutical products worldwide.

Pharmaceutical manufacturers are among the beneficiaries of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.

“The law provides significant tax incentives, not only for large but also for micro, small and medium enterprises (MSMEs), enabling smaller pharmaceutical companies and suppliers to scale up their operations,” the BoI said.

“Businesses engaged in health-related activities and addressing supply chain gaps could receive better incentives, further promoting sustainable and responsible pharmaceutical manufacturing in the country,” it added.

Separately, the BoI said it signed a memorandum of understanding in developing critical and foundational skills in engineering and technology with DevConnect Philippines, Inc.

“We are dedicated to working with DEVCON to implement strategic initiatives that will ignite interest in science and technology among our future workforce, thereby addressing the decline of enrollees in engineering and other related fields,” BoI Managing Head and Trade Undersecretary Ceferino S. Rodolfo said.

“Ultimately, this will expand our local capabilities and secure the Philippines’ position as a leading investment hub in the region for these in-demand industries,” he added.

In particular, the partnership aims to empower Philippine information technology, semiconductors and electronics, and other priority industries in need of job-ready graduates. — Justine Irish D. Tabile

PHL rice production shortfall seen at 6.1 MMT by 2028/29

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THE shortfall in domestic rice production could grow to 6.1 million metric tons (MMT) by 2028/29 due to unfavorable weather in the face of growing demand, putting the Philippines at the mercy of volatile international grain markets, Fitch Solutions BMI reported.

The Philippines is facing a “growing production deficit,” estimated at 3.5 MMT in 2024/25 before expanding further to 6.1 million MT by 2028. It 2014/15, the shortfall had been 1.4 MMT, it said on Thursday.

BMI said “structural challenges” faced by the Philippines include limited availability of arable land, exposure to typhoons and the growing population, making it difficult to achieve self-sufficiency in grains.

Self-sufficiency in rice has decreased “significantly” over the past decade, to 69.7% in 2024/25 from 91.6% in 2014/15, BMI said.

“This is due to limited growth in production combined with strong growth in consumption,” it noted.

BMI said it estimates the five-year average annual growth rate in the period ending 2024/25 at 3.6% for rice consumption and 0.2% for production.

“Through our forecast period between 2025/26 and 2028/29, we expect the average annual growth rate for production to be 2.0%. For consumption we expect this to be 2.5%,” it added.

The Philippines has lowered tariffs and declared an emergency that triggers the release of state rice stocks in response to elevated rice prices.

Philippine inflation eased to 2.1% in February from 2.9% in January as rice inflation dropped to 4.9%, the sharpest decline since April 2020.

Rice growers are currently facing low farmgate prices as traders opt to deal in imported rice. The farmgate price was P15-16 per kilo for freshly harvested grain, according to industry reports last week.

The report also noted that labor productivity in the Philippines is low compared to Thailand and Vietnam due to “manual transplanting being more common and lower levels of mechanization.”

It noted that rice yields in the Philippines are lower than those in Vietnam but are very close to those in the largest exporter, India, and higher than those in Thailand.

BMI said it’s a “significant concern” that the Philippines is now the largest importer of rice globally, accounting for 9.7% of global rice imports in 2024/25 based on US Department of Agriculture forecasts, given that 19.5% of the population had insufficient food consumption as of September 2024.

“We also highlight that the Philippines relies entirely on imports for wheat, a further risk for food security,” it flagged. 

BMI said demographic trends will result in continued strong demand for rice in the medium to long term, noting that spending on rice will grow at a faster rate than food spending overall in 2029. — Kyle Aristophere T. Atienza

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