MANILA – Philippine shares saw a slight uptick on Monday ahead of the upcoming release of February 2025 inflation data, while the peso remained stable.

The Philippine Stock Exchange Index (PSEi) gained 0.65%, closing at 6,037.19, while the All Shares index rose by 0.89% to 3,620.12.

“Philippine stocks posted modest gains, reflecting the sentiment in regional markets, particularly after the conclusion of the quarterly MSCI rebalancing last week,” said Luis Limlingan, head of sales at Regina Capital Development Corp.

He also noted that key US economic data this week includes February’s jobs report, due Friday, which may indicate weaker hiring and potential job cuts in the public sector, according to the PMI (Purchasing Managers Index).

“Domestically, the focus is on the CPI (Consumer Price Index) release on March 5, alongside other key data points including the S&P Global Manufacturing PMI (March 3), PPI (March 4), Unemployment Rate (March 6), and GIR level (March 7),” Limlingan added.

Except for the Industrial and Services sectors, all other sectors ended in the green, with Holding Firms leading the way, up by 2.90%.

Overall, market losers outnumbered gainers, 120 to 75.

Meanwhile, the peso closed at 57.90 to the dollar on Monday, slightly down from Friday’s 57.99. The peso opened at 57.98, fluctuating between 57.88 and 57.98, with a weighted average of 57.92.

Trading volume dropped to USD 1.06 billion from USD 1.19 billion in the previous session.

IA/MNM

THE Media Information Literacy Initiative (MIL) of the government has gained strong support from the House of Representatives, providing a significant boost to the ongoing battle against the proliferation of fake news within the country.

Aio Bautista, the lead convenor of the non-government organization Philippine Transportation and Communication Advocates (PTCA), shared this encouraging development on Wednesday.

“This support is expected to bolster the MIL, which is an initiative of the Presidential Communications Office and it would play a very crucial role in our country’s fight against false information,” Bautista said.

Initially, the MIL aims to empower educators in state universities and colleges (SUCs) to combat the spread of fake news, misinformation, and disinformation.

Bautista further explained that, “At the outset, the MIL intends to empower educators in state universities and colleges (SUCs) to combat the proliferation of fake news, misinformation, and disinformation.”

But Bautista added that “if the House provides additional funding in the coming years, the initiative’s scope can expand to include private schools.”

This sentiment aligns with the statement made earlier by Rep. Stella Quimbo, the lawmaker from Marikina’s Second District, who serves as the author and budget endorser of the MIL initiative.

Quimbo emphasized the importance of inclusivity but acknowledged the current budget constraints, which will initially focus on SUCs.

“We aim to make this initiative as inclusive as possible, but the current budget allocation is somewhat limited. Consequently, our initial phase will focus on state universities and colleges (SUCs). Nevertheless, with the generosity of Congress in the future, we hope to broaden our reach,” Quimbo was qoted by the working media as saying.

Notably, the initiative also received support from Congresswoman France Castro of the ACT TEACHERS Party-list, who expressed solidarity with the PCO’s MIL campaign and endorsed the proposed budget increase.

Castro stated, “I stand in solidarity with this proposed digital media and information literacy campaign, and I concur with our esteemed sponsor that the budget should be expanded. I will lend my support to such endeavors.”

According to Bautista, the Marcos administration has allocated a budget of P16.899 million for the implementation of its MIL campaign this year, drawn from its total proposed budget of P1.7 billion for 2024.

This program primarily focuses on educating teachers and equipping them to become trainers, enabling them to educate students on how to differentiate between fake news and authentic information.

Launched on August 14, 2023, this initiative boasts key public sector partners, including the Department of Education (DepEd), the Commission on Higher Education (CHED), the Department of the Interior and Local Government (DILG), and the Department of Social Welfare and Development (DSWD).

“Cooperation from tech giants such as Google (YouTube), Meta (Facebook, Instagram, and Threads), TikTok, and X (formerly Twitter) is also anticipated to play a significant role in executing this project,” stressed Bautista. (AI/MNM)