MANILA – The Bangko Sentral ng Pilipinas (BSP) on Friday reiterated its commitment to adjusting its policy stance to address the expansion of price pressures even as the domestic inflation rate continues to ease.
The rate of price increases slowed further to 4.7 percent in July, the lowest since March 2022, from the previous month’s 5.4 percent and the previous year’s 6.4 percent, bringing the year-to-date average to 6.8 percent.
In a statement, the BSP said the deceleration is in line with its expectations of a sustained slowdown to between 4.1 and 4.9 percent in July, and to within the government’s 2 percent to 4 percent target band in the last quarter of this year without any supply shocks.
However, it said upside risks continue to dominate the environment due to the “potential impact of additional transport fare increases, higher-than-expected minimum wage adjustments in other regions, persistent supply constraints of key food items, El Niño weather conditions, and possible knock-on effects of higher toll rates on prices of key agricultural items.”
These factors are expected to be countered by “the impact of a weaker-than-expected global economic recovery.”
“The BSP stands ready to adjust the monetary policy stance as necessary to prevent the further broadening of price pressures, as well as the emergence of additional second-order effects in view of the persistent upside risks to the inflation outlook,” it said.
The central bank said it “continues to support the timely and effective implementation of non-monetary government measures to mitigate the impact of persistent supply-side pressures on inflation.”
BSP policy rate impact
In terms of the month-on-month change in the headline inflation rate, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the rate was 0.1 percent last July, slower than the previous month’s 0.2 percent.
He attributed the decline to the impact of lagged effects of recent storm damage that resulted in higher prices of some agricultural products, as well as higher prices of domestic fuel prices and the rise in the minimum wage in Metro Manila.
In a reply to questions sent through e-mail by the Philippine News Agency (PNA), Ricafort said he expects the easing of the inflation rate to slow a bit in the coming months because of these factors’ lag effect.
He, however, remains optimistic that the monthly rate would decelerate to within the target level in the last quarter of the year.
With these developments, Ricafort forecast the BSP to either keep its key rates steady or hike them by 25 basis points during the rate-setting meeting of the policy-making Monetary Board (MB) on Aug. 17, 2023.
“A possible +0.25 local policy rate hike to match the latest +0.25 Fed rate hike on July 26, 2023 would aim to maintain healthy interest rates differentials to help stabilize the peso exchange rate vs. the US dollar, import prices/costs, and overall inflation,” he said.
Ricafort said “a pause on local policy rates would be possible if the peso exchange rate is relatively stable or stronger vs. the US dollar, as a pause in local policy rates may also be justified by the easing trend in inflation or disinflation largely due to higher base/denominator effects.”
He said market participants recently discounted further hikes in the Federal Reserve’s key rates after the 25 basis points increase in the Federal Reserve fund rates last July as inflation continues to ease even in the US.
Ricafort said projections for inflation to slow down to about 4 percent from August to September, and further to 3 percent from October to December, and 2 percent or lower in the first quarter of 2023, “could fundamentally lay the future groundwork to eventually justify local policy rate cuts.”
This possibility, he said, is more likely “especially if the US central bank/Fed starts cutting rates, especially in 2024 as expected by the markers and signaled by some Fed officials, as well as support faster GDP (gross domestic product)/economic growth going forward amid reduced drag from inflationary pressures.”
“Possible cut in Fed and local policy rates for the coming month, especially in 2024, would also help reduce borrowing/financing costs and, in turn, support faster economic/GDP growth,” he added. (PNA)
MANILA — Customers in the franchise areas of the Manila Electric Company (Meralco) may expect cheaper power rates in August, Meralco spokesperson Joe Zaldarriaga said on Friday.
“While we have yet to receive the final billings from our suppliers, we expect a possible decrease in the generation charge this month,” he said in a message to reporters.
Zaldarriaga said prices at the Wholesale Electricity Spot Market (WESM) may decline this month amid the reduction in demand.
Earlier, WESM said lower spot market prices are expected during the rainy season as power usage drops during these months because of cooler temperature.
In July, spot market prices started to decline to PHP6.07 per kilowatt-hour (kWh) from PHP6.67 per kWh in June.
WESM accounted for 15 percent of Meralco’s power supply last month.
“The quarterly repricing of Malampaya (gas field) will also reflect the lower crude prices over the past six months,” Zaldarriaga added.
Zaldarriaga also cited the stronger local currency will help in the reduction of generation charge, as most of the costs of power suppliers are dollar denominated.
“We are optimistic that these factors would be enough to bring down the overall electricity rate for this month,” he said.
Meralco rates in July were at PHP11.1899 per kWh. (PNA)
MANILA – The Marcos administration is committed to implementing strategies that would help sustain the continued drop in the prices of basic commodities, Budget Secretary Amenah Pangandaman said Friday.
This came after the Philippine Statistics Authority (PSA) reported that inflation further dropped to 4.7 percent in July, lower than the 5.4 percent registered in June.
July’s headline inflation represents a continued slowdown for six consecutive months since hitting an 8.7-percent peak in January.
This is also the lowest recorded inflation since commodity prices reached five percent in April 2022.
“We interpret this as a highly encouraging development. Our economic team is anticipating a sustained decline in our national inflation rate,” Pangandaman said.
“We assure our fellow citizens, that we remain unwavering in executing strategies to maintain the inflation rate well within our target range,” she added.
Pangandaman also attributed the continued decline in the inflation rate to the effectiveness of the current administration’s economic strategies.
She said the whole-of-government approach being implemented is “indeed demonstrating efficacy.”
“The accomplishments we are witnessing attest to the fact that the economic tactics of President Bongbong Marcos’ administration are rightly devised,” she said.
The July inflation rate fell within the Bangko Sentral ng Pilipinas’ 4.1 to 4.9 percent forecast for the month.
The main driver of the continued downtrend of the overall inflation in July was the lower year-on-year increase in the heavily-weighted food and non-alcoholic beverages at 6.1 percent from June’s 6.9 percent.
This was followed by housing, water, electricity, gas and other fuels (3 percent from 4.8 percent in June); and transportation (-3.0 percent from -1.2 percent in June).
On May 26, 2023, President Ferdinand R. Marcos Jr. signed Executive Order 28, creating the Inter-Agency Committee on Inflation and Market Outlook (IAC-IMO) which enhances the coordination and action of government agencies in managing inflation and mitigating the effects of rising commodity prices to the Filipino people. (PNA)
MANILA – President Ferdinand R. Marcos Jr. only discussed issues on “flooding and agriculture” with the senators who came for a private dinner in Malacañang on Wednesday evening, Senate President Juan Miguel Zubiri said on Thursday.
In an interview aired over CNN, Zubiri bared that they did not talk about the issues on the West Philippine Sea (WPS) considering that Marcos just came from a meeting with former President Rodrigo Duterte, who earlier met with Chinese President Xi Jinping.
Describing their meeting as “very casual, cordial,” he said Marcos and the senators touched very quickly on the issue of Duterte, but the topic was immediately changed.
“We change topics after that into agriculture and flooding that’s going on all over Luzon, particularly Northern Luzon, his province Ilocos and, of course, what’s happening in Bulacan and Pampanga,” Zubiri sad.
He added that Marcos was very concerned and focused on the plight of the flood-affected families, as well as the farmers whose crops were damaged by the recent typhoons.
“He was very concerned last night and during the course of the dinner, siyempre tinitignan nya yung cellphone niya, nagtitingin po siya ng mga updates kung ano ang nangyayari (he was constantly looking at his cellphone and looking for updates). And he was, every time he looked at his phone and he was like sighing, sigh of sadness, and ‘we have to send things here to this province, or to send more relief goods to this other province’” Zubiri related.
Although the West Philippine Sea issue was not discussed, Zubiri said Marcos is “familiar and knows very well” the stand of the Senate, having passed Senate Resolution No. 718, which condemns the continued harassment of Filipino fishermen and the persistent incursions in the West Philippine Sea (WPS) by the Chinese Coast Guard and militia vessels.
“During the conversation we just mentioned basically that we had this stand with the Senate.. we didn’t want to impose or discuss anything serious at the time because this was really for a casual and cordial dinner,” he said.
“But what is important, I think we should focus on the resolution. I think it is important to take note that the Senate went together, united together,” Zubiri said.
SRN 718 was unanimously adopted by the Senate on Tuesday.
Sponsored by Zubiri and Senate Deputy Minority Leader Risa Hontiveros, the resolution urges the Philippine government to take appropriate action in asserting and securing the country’s sovereign rights over its Exclusive Economic Zone (EEZ) and continental shelf.
The measure, which was co-authored by all senators, also calls on China to stop its illegal activities in accordance with the United Nations Convention on the Law of the Sea (UNCLOS) and the 2016 Ruling of the Permanent Court of Arbitration. (PNA)
MANILA – Malacañang will be hosting on Sunday its second Konsyerto sa Palasyo (KSP), which will feature new and emerging Filipino artists.
More than 300 Philippine athletes will be part of the audience on Sunday, in recognition of their efforts to bring pride and honor to the country, the Presidential Communications Office (PCO) said in a statement on Friday.
“Konsyerto sa Palasyo: Para sa Atletang Pilipino is a project of the Office of the President (OP), Presidential Communications Office, and Radio Television Malacañang (RTVM),” the PCO said.
The concert will start at 6:30 p.m.
The second KSP will feature powerhouse vocalists Chloe Redondo, Emman Buñao, Jopper Ril and Kevin Traqueña, the PCO said.
Beatbox artists Adrian “AD BEAT” Ferrer and Neil Rey Llanes will also perform in the concert.
There will also be a special performance from The Voice France Season 8 four-chair turner Aivan Mendoza and champion a capella group PINOPELA from Baguio City Special.
The professional dance group Douglas Nierras Powerdance will round out the list of performers.
“The featured performers have mostly had viral videos on social media and were chosen for their remarkable talent and artistry,” the PCO said.
The concert will be live-streamed through the official Facebook pages of Konsyerto sa Palasyo and RTVM.
A live broadcast will also be available on RTVM’s YouTube channel.
An initiative of the OP, the concert series debuted in April 2023 to support the creative industries, especially after the pandemic.
The program aims to search for local artists who excel in their respective fields and give them a spotlight in the “People’s Palace.” (PNA)
President Ferdinand Marcos Jr. has designated a member of the Supreme Court to serve as a commissioner in the Governance Commission for Government-Owned or Controlled Corporations (GOCCs), also known as GCG.
Brian Keith Hosaka, who holds the position of assistant court administrator and Chief of the Public Information Office, is set to take on the role of commissioner, as stated in a release on the High Court’s official website on Friday.
Hosaka has notably fulfilled the role of spokesperson for the High Court during the tenures of three chief justices: the now-retired Chief Justice and current Executive Secretary Lucas Bersamin, retired Chief Justice Diosdado Peralta, and the present Chief Justice Alexander Gesmundo.
The High Court remarked, “[Hosaka] played a crucial role in introducing numerous initiatives that have further improved the dissemination of information about the Court and its endeavors, thus bridging the gap between the Courts and the public.”
The GCG is committed to “ensuring a transparent and responsive government-owned and -controlled sector for the Filipino populace,” according to the agency’s official website. (AI/MNM)
Karl Eldrew Yulo (Photo courtesy of Manila Bulletin)
Karl Eldrew Yulo from the National Capital Region (NCR) achieved a remarkable feat by securing six gold medals in the secondary boys’ artistic events at the Palarong Pambansa, held at the Rizal Memorial Coliseum on August 4th.
Yulo, the 15-year-old younger sibling of two-time world champion gymnast Carlos Edriel Yulo, showcased his prowess across various disciplines.
In the floor exercise, Yulo dominated with a score of 13.500 points. He also excelled in the vault with a total of 13.95 points, while achieving 9.00 points in horizontal bars and 9.250 points in the mushroom event.
Not only did Yulo clinch the gold in the individual all-around category with a score of 46.25 points, but he also played a pivotal role in leading NCR to victory in the team all-around event with a total of 41.7 points, as seen last Wednesday.
Standing at 4 feet 11 inches, Yulo expressed his elation at sweeping all the events for secondary boys in the Palaro gymnastics. He reminisced about achieving a similar feat in the elementary division back in 2017.
“I can’t put into words how joyous I am right now. Despite my confidence in my routines, I felt a bit nervous because this is a national-level competition,” Yulo said.
(ai/mnm)
Lance Cruz (Photo courtesy of the Manila Times)
Lance Cruz of the National Capital Region (NCR) has successfully reset the record for the secondary boys’ 200-meter breaststroke event of the Palarong Pambansa on Friday, 04 August 2023.
The impressive feat took place at the Marikina Sports Center where Cruz achieved a remarkable time of 2 minutes and 25.29 seconds, surpassing the previous record of 2 minutes and 26.77 seconds, securing the gold medal in the process. (ai/mnm)
“We want to put that premium for our grassroots sports programs.”
Thus said Philippine Sports Commission (PSC) Chairman Richard Bachmann when he announced Friday the return of the Batang Pinoy (BP) and Philippine National Games (PNG) on December 17 to 22 this year.
In a press conference at the Rizal Memorial Sports Complex, the PSC chief said that “going around the provinces and all the sports events, we owe it to all the kids and the athletes to give them a good platform to perform in all sports. That’s one way the PSC can help, to give them that international-level of hosting from the logo to the branding.”
The two PSC-organized sporting events will be held simultaneously in Pasig City and Manila, and will feature 20 disciplines: archery, arnis, athletics, badminton, basketball 3×3, boxing, chess, cycling, dancesport, esports, gymnastics, karatedo, lawn tennis, sepak takraw, swimming, table tennis, taekwondo, beach volleyball, weightlifting and wushu.
Like in previous editions of the PNG, competing athletes will be from ages 18 and above, while the Batang Pinoy will introduce a new age group of 17 years old and below. Specific sub-groupings of age will be on a per sport basis.
Bachmann, who was joined in the media briefing by newly appointed Executive Director Paulo Francisco Tatad, also unveiled the new logos for BP and PNG, focusing on the colors and traditional icons of the flag, while adding elements that highlight the essence of grassroots sports talents.
“Together with Chairman Bachmann, we will do our very best in the coming months and years to increase the participation of our youth in our grassroots sports programs like the BP and PNG, and improve our facilities and infrastructure for our athletes,” said Tatad, who officially started his tour of duty on August 1.
The PSC will be partnering with the Department of Interior and Local Government (DILG), Department of Education, Philippine Olympic Committee and 20 national sports associations.
The PNG was declared the country’s centerpiece sports program through Executive Order No. 163 in 1994, while the Batang Pinoy, formerly known as the Philippine Youth Games, was created through Executive Order No. 44 in 1998.
Photo grab of the ill-fated Cessna 152 trainer aircraft (GMA Network photo courtesy)
After an intensive two-day search and rescue mission, the Civil Aviation Authority of the Philippines (CAAP) has confirmed locating the wreckage of a trainer Cessna aircraft RP-C8598.
According to CAAP Spokesperson Eric Apolonio, the crash site was identified in close proximity to the coordinates provided by CAAP-Philippine Aeronautical Rescue Coordinating Center (PARCC) during the emergency briefing held by the Cagayan Valley Disaster Risk Reduction Management Council on Tuesday evening.
The aircraft in question, a training Cessna 152, was piloted by a Filipino flight instructor and carried an Indian student pilot. Its departure from Laoag International Airport took place at 12:16 p.m. on Tuesday.
Despite its intended touch-and-go activity at Cauayan Airport, the plane failed to arrive at its destination. Apolonio noted that the aircraft’s final position report was transmitted around 1 p.m., indicating a location approximately 32 nautical miles northwest of Alcala, Cagayan.
The search and rescue operations were deemed successful, thanks to collaborative efforts from military and police personnel, various local government units, and dedicated civilian volunteers. Tragically, the SAR teams recovered two bodies believed to be the occupants of the ill-fated Cessna 152.
CAAP’s Aviation Records Management Division (AMRD) revealed that Echo Air International Aviation Academy was the owner of the aircraft, including RP-C8598.
The aircraft held valid Airworthiness Certification and was equipped with both a transponder and an Emergency Locator Transmitter (ELT).
The ELT plays a vital role in aviation safety, emitting distress signals in the event of a crash to aid in locating and rescuing occupants. Notably, Cessna aircraft do not incorporate black boxes due to weight considerations.
As a result of the incident, the operations of Echo Air have been temporarily suspended by CAAP.
(ai/mnm)
Arnolfo “Arnie” Teves Jr., the suspended representative of Negros Oriental Third District, is steadfastly upholding his constitutional rights, particularly his entitlement to the presumption of innocence until proven guilty. Despite being branded a terrorist by the government, Teves resolutely asserts his rights and voices his perspective.
During a virtual press conference attended by both vloggers and mainstream media representatives, Teves characterized his current predicament as a manifestation of political maneuvering.
He brought attention to the investigation surrounding the assassination of Negros Oriental governor Roel Degamo, questioning why it has taken on the dimension of terrorism.
Teves, a figure implicated in the alleged orchestration of the assassination, emphasized his commitment to justice prevailing in his province.
The Anti-Terrorism Council (ATC), citing the imperative of curbing impunity and ensuring national peace and security, has designated Teves and his armed supporters as terrorists.
Consequently, the council has frozen the legislator’s assets. In a resolution dated July 26, the ATC highlighted instances of violence and intimidation in Negros Oriental, aiming to create an environment of fear and apprehension among its inhabitants.
The assassination of Roel Degamo on March 4, which occurred during an interaction with beneficiaries of a government cash distribution program at his Pamplona residence, serves as a pivotal point in this narrative.
Teves raised a poignant question regarding the implications of labeling an individual as a terrorist by the authorities, pondering the potential repercussions for the ordinary Filipino citizen.
In the face of these circumstances, Arnolfo “Arnie” Teves Jr. remains resolute in his assertion of constitutional rights, emphasizing his entitlement to a fair legal process and the right to be considered innocent until proven guilty. (ai/mnm)
The Pinay Investor photo courtesy
MANILA — The rate of inflation decelerated to 4.7% in July, marking its lowest point since March 2022, according to a report by the Philippine Statistics Authority (PSA) on Friday.
This ongoing slowdown can be attributed primarily to a reduced uptick in costs related to housing, water, electricity, gas, and other fuels.
The 4.7% figure represents a decline from June’s 5.4% and a noteworthy drop from July of the previous year, which registered at 6.4%.
These numbers align with the Bangko Sentral ng Pilipinas’ (BSP) projected range of 4.1% to 4.9% for the month and slightly undercuts the 4.8% median reported in an economist poll conducted by mainstream media.
The PSA further noted that this is the most muted inflation rate recorded since March 2022, which stood at 4.0%.
Excluding the influence of volatile food and energy items, core inflation saw a significant reduction to 6.7%, down from June’s 7.4%.
Considering the year-to-date perspective, headline inflation remained at 6.8%, while core inflation settled at 7.6%, both of which surpass the central bank’s targeted range of 2.0% to 4.0%. (ai/mnm)
By Benjamin Cuaresma
MANILA — A chain reaction akin to falling dominoes resulted in the simultaneous collapse of eight (8) utility poles of Manila Electric Company (Meralco), leading to a collision involving eight (8) vehicles and injuries to three (3) individuals.
The incident occurred along Quintin Paredes and Ongpin Streets in Binondo, Manila, at around 1 PM on Thursday, August 3, 2023.
Officials from the Manila Police District (MPD) have identified the injured parties as follows: Joffer Dolatre, 32, a resident of Binondo; John Michael Tigoy, 21, hailing from Caloocan City; and Beverly Balledo, 25, from Navotas City. Despite suffering cuts and bruises, all victims have received initial medical attention and are reported to be in stable condition.
The toppling poles caused extensive damage, impacting five (5) cars, two (2) motorcycles, an E-Bike, and a nearby bicycle that had been parked in the vicinity.
Surveillance footage from the area revealed that the collapse of one pole, with its interconnected wires, triggered a cascading effect, resulting in the downfall of the seven (7) other poles.
In response, Meralco spokesperson Joe Zaldarriaga stated that Meralco is actively collaborating with authorities to conduct a thorough investigation into the incident, particularly the simultaneous collapse of five (5) Meralco and three (3) Telcos posts.
Crews from Meralco have been dispatched to the scene to secure and restore the fallen power lines, which obstructed the streets. The Manila Traffic Bureau is also aiding motorists by implementing rerouting measures in the affected area.
Images captured in the aftermath of the fallen poles along Quintin Paredes and Ongpin Street are prominently featured here, underscoring the disruptive nature of the incident. (ai/mnm)
By Benjamin Cuaresma
PASAY CITY — Celebrations filled the air as centenarian Caridad Lagadia Reyes and her family joyfully accepted a financial grant amounting to P100,000 from the city government of this local government unit.
The grant was personally presented by Pasay City Mayor Imelda “Emi” Calixto in a heartwarming ceremony held at Reyes’ residence in Brgy. 48, Tramo, Pasay City, on Thursday, August 3, 2023.
The Centenarian Act, also known as Republic Act, stands as a cornerstone initiative within the Department of Social Welfare and Development’s (DSWD) programs.
This Act recognizes and bestows supplementary benefits and privileges upon Filipino centenarians — those remarkable individuals who have reached or surpassed the remarkable age of 100 years.
Managed by DSWD’s Central Office and its various field units, this program operates in collaboration with Local Government Units (LGUs) throughout the nation.
Beyond the substantial P100,000 cash grant and a personally-signed Letter of Felicitation from the President, the surviving relatives of deceased centenarians will also be honored with a posthumous plaque of recognition.
This plaque, a testament to the centenarian’s enduring legacy, will be bestowed upon the living family members as a token of the nation’s profound respect and appreciation. (ai/mnm)
Medical personnel from the 2nd iteration of the Annual Community Medical Mission “Operation Tuli” provided assistance to doctors performing circumcisions on approximately 140 youths. The event took place at the Multi-Purpose Hall of the Manila Police District (MPD) on UN Ave. in Manila.
The 2nd Annual Community Medical Mission, organized by the Manila Police District (MPD), is part of a Community Outreach initiative led by PBGEN. Andre Dizon. Its primary goal is to foster stronger ties between the local community and the authorities of the Manila Police.
The 140 young boys who received complimentary circumcision services hailed from various Barangays across the city as highlighted by PMajor Phillip Inez, the MPD’s Public Information Officer. (Benjie Cuaresma/AI/MNM)
By Benjamin Cuaresma
August 4, 2023
MANILA — Commissioner Romeo Lumagi Jr. of the Bureau of Internal Revenue has taken the lead in initiating legal action by submitting 127 criminal cases of tax evasion against 214 corporate executives, amounting to 6.1 billion in liabilities under the Bureau’s RATE program. This move was made on August 3, 2023, at the Department of Justice (DOJ) located along Padre Faura in Manila.
Lumagi reiterated a stern reminder to all corporations and corporate officers that disregarding notices or correspondences from the BIR will suffice for the bureau to initiate appropriate legal proceedings against them.
In instances where the tax investigation reveals deficiencies, taxpayers are strongly advised to proactively step forward to settle the evaluated amount within the stipulated timeframe. Failure to comply with this directive could result in the commencement of criminal charges.
This marks the Bureau’s second round of legal actions under the “Run After Tax Evaders” (RATE) program. Previously, in February 2023, a notable 74 criminal cases were filed, involving a substantial sum of P3.58 billion. (AI/MNM)
It’s all systems go for the semifinal round of the Shakey’s Super League (SSL) National Invitationals 2023, and the stage is now clear with four teams remaining in the competition.
From an original cast of 12 contenders, only these four teams have emerged victorious – three from UAAP and one from NCAA.
The semi-final matches are scheduled to commence on Friday at the Filoil EcoOil Centre in San Juan.
The reigning UAAP champion, La Salle, is gearing up to face off against rival University of Santo Tomas, in the main event set for 4 p.m.
Preceding this clash, at 2 p.m., there will be an opening match between UAAP bronze medalist Adamson and the unexpected contender from NCAA, University of Perpetual Help System Dalta.
The winners of these matches will advance to the finals, which will follow a best-of-three format and take place in the upcoming week.
The ultimate goal for these teams is to secure the title of the first national champion of the SSL.
This tournament is presented by Eurotel as the official hotel, with Victory Liner serving as the office transport provider. The event is conducted in cooperation with the Commission on Higher Education (CHED). (ai/mnm)
Gilas Pilipinas is set to kick off its participation in the 2023 Heyuan WUS International Basketball Tournament in Guangdong, China against Iran, but it will have to navigate the challenge without some key players.
Notably absent from the lineup are Utah Jazz standout Jordan Clarkson, promising big man Kai Sotto, and Scottie Thompson.
Stepping onto the court for Gilas will be the seasoned duo of June Mar Fajardo and Japeth Aguilar, who will be taking the lead role. Clarkson will be unavailable due to his scheduled travel from Los Angeles to Manila next week, while Thompson is recovering from a metacarpal fracture in his shooting hand.
The team’s journey begins with a matchup against Iran at the Heyuan Sports gymnasium on Thursday. Despite the absence of some key players, Gilas is aiming to make a strong start in the tournament. Their initial practice took place in the same gym shortly after their arrival in Heyuan.
Standing at 6 feet 10 inches, Fajardo, and the 6-foot-9 Aguilar, bring a wealth of experience to the team, having previously represented the Philippines in the 2014 and 2019 editions of the FIBA World Cup.
In the 2014 FIBA World Cup held in Seville, Spain, both players were instrumental in the Philippine team’s historic victory over Senegal with a score of 81-79 in overtime. This triumph marked the Philippines’ first win on the global stage in over four decades.
Another notable match awaits Gilas as they are set to face Senegal on Friday, renewing their rivalry for the first time since their encounter in 2014.
Amid the unexpected absence of the 7-foot-3 Kai Sotto, who was originally slated to be part of the lineup, Gilas coach Chot Reyes remains optimistic about the team’s prospects. He emphasized that the team is in high spirits despite the sudden turn of events involving Sotto’s availability for the China tournament.
Interestingly, Reyes chose not to comment on Sotto’s current status within the Gilas team, focusing instead on the upcoming challenges and the team’s overall outlook.
In its ongoing crusade against unlawful practices, the Philippine Amusement and Gaming Corp. (Pagcor) has initiated a probationary period for both license holders and service providers engaged in offshore gaming.
According to a statement released by Pagcor, offshore gaming operators have been granted until September 17, 2023, to initiate the process of reapplying for their licenses.
As part of the existing framework, Pagcor emphasized that all service providers involved in accepting bets are mandated to undergo a licensing procedure.
The assessment will also extend to scrutinizing the identities of the beneficial owners of these entities, ensuring they can be held accountable should their involvement in any illicit activities come to light.
“Our aim is to ensure that those found engaged in any unlawful undertakings can be held fully responsible, including the beneficial stakeholders of these enterprises.” Pagcor Assistant Vice President for Offshore Gaming Licensing Atty. Jessa Fernandez said. (AI/MNM)
CardExpert illustration courtesy
When an incoming call displays as “unknown” or originates from an unfamiliar number not in your contacts, exercise utmost caution.
Be vigilant and regard the caller as a potential swindler aiming to deceive you into relinquishing your hard-earned money.
This stern admonition stems from the personal experience of a grandmother of three, who recounted an unexpected call she received on the afternoon of August 2nd, 2023. The caller requested her to upgrade her credit card to platinum status, accompanied by promises of a heightened credit limit and other enticing perks.
Posing as a representative from her bank, the “unknown” caller attempted to trick her into disclosing her genuine credit card number by offering incorrect digits. Oftentimes, individuals inadvertently provide the correct and valid combinations in response to such tactics.
The imposter bank representative elaborated that this was a requisite step in elevating her credit card’s tier from silver to platinum. Furthermore, he informed her of the option to convert her existing credit card points into cash.
Firmly, the prospective victim responded, “Sorry, wrong numbers… and if you genuinely represent my bank, this information should already be in your possession.”
Undeterred, the fraudster inquired, “What about your address, ma’am?” in a futile attempt to escalate his scam.
Once more, he encountered the same unwavering reply, “Apologies. If you truly are affiliated with my bank, as you claim, my address should be readily available to you through the bank’s records. There’s no need to question me about it.”
Recognizing the shrewdness of the intended victim, the scammer conceded defeat, uttering a perfunctory “thank you, ma’am,” before abruptly ending the call.
“Our guard should never be lowered. Under no circumstances should we divulge critical personal details, information about our bank accounts, credit cards, passwords, personal identification numbers (PINs), or any sensitive data unless we are physically interacting with a legitimate bank representative,” emphasized the almost-victim.
“To outwit scammers is to be a step ahead of them. It’s our most effective weapon against their schemes,” she asserted, noting that despite the successful enactment of Republic Act 11934, which mandates subscriber identity module (SIM) card registration, an unwavering vigilance remains essential.
The second extension of the SIM Card registration law concluded on July 25th. President Marcos endorsed this law in October of the prior year, aiming to curb the rising tide of cellphone-based scams and various forms of cybercrimes.
The Department of Information and Communications Technology (DICT) and the National Telecommunications Commission reported that a noteworthy 105.9 million SIM card subscribers adhered to the law. This figure accounts for 63% of the total reported active SIM subscribers as of December 2022.
Both entities expressed contentment with this figure, asserting that it aligns with the target range of 100 million to 110 million registered SIMs by the July 25th deadline.
Major public telecommunication providers affirmed that nearly all SIM cards associated with active users had successfully undergone the registration process.
In particular, out of the 105.9 million registered SIMs, Smart accounted for 50.0 million, Globe for 48.4 million, and Dito for 7.5 million. (ai/mnm)