BANNER: Economic team: Food supply, oil prices stable

DESPITE concerns over the impact the current Russia-Ukraine conflict may have on the Philippines in terms of higher prices, particularly in food and energy, the economic managers are confident that these will remain stable. Socioeconomic Planning Secretary Karl Kendrick Chua is referring to Senate Bill (SB) 139, or the "Philippine Livestock Development Industry Act," and SB 2176, or the "Affordable Pork Act," both of which, according to the Development Budget Coordination Committee, will help alleviate potential domestic supply constraints and prevent second-round price effects. On his part, Bangko Sentral ng Pilipinas Governor Benjamin Diokno noted that while rising oil prices are anticipated to have a greater impact than higher food costs, the contribution of oil prices to inflation is substantially lower. The Department of Trade and Industry (DTI), for its part, said that despite geopolitical concerns outside the Philippines, basic necessity and prime commodity prices have remained stable. Nomura, a Tokyo-based global investment firm, warned last week that a sharp spike in oil and food prices induced by the Ukraine conflict could strike Asian economies hard, with the Philippines among the "biggest losers." Diokno said, however, that "all analysis on the impact of Russia-Ukraine conflict on individual jurisdictions, at this time, are speculative" and that "there are just too much uncertainties." The consequences of the conflict on Russia, Ukraine, and some European countries, or those who rely on Moscow gas, the central bank chief highlighted, might be significant. However, the impact of the conflict on the Philippine economy is seen to be minimal, if at all, in comparison to those who are directly affected by the crisis, he said.

Ukrainian soldiers repulse Russian attack on capital as battle begins

UKRAINIAN soldiers repulsed a Russian attack in the capital, the military said early Saturday, only hours after President Volodymyr Zelenskyy warned that Moscow would attempt to take Kyiv before dawn. Russian leader Vladimir Putin unleashed a full-scale invasion on Thursday that has killed dozens of people, forced more than 50,000 to flee Ukraine in just 48 hours and sparked fears of a new Cold War in Europe. Western nations announced personal sanctions targeting Putin as his soldiers were advancing into Ukraine Friday, with Zelenskyy urging the nation to defend itself.

7 VP bets face off in first debate

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SEVEN of nine vice presidential candidates faced off in a debate for the first time on Saturday. Davao City Mayor Sara Duterte-Carpio and Buhay party-list Rep. Jose "Lito" Atienza Jr. were a no-show in the event that was organized by CNN Philippines entitled "The Filipino Votes: Vice Presidential Debate." Duterte-Carpio, running mate of former senator Ferdinand "Bongbong" Marcos Jr., cited a conflict in schedule while Atienza, running mate of Sen. Emmanuel "Manny" Pacquiao was recuperating from a knee surgery. In attendance were former Akbayan representative Walden Bello, Rizalito David, Manny SD Lopez, Dr. Willie Ong, Sen. Francis "Kiko" Pangilinan, lawyer Carlos Serapio and Senate President Vicente Sotto 3rd.

Duterte vows fair, peaceful polls

PRESIDENT Rodrigo Duterte promised Filipinos a fair and peaceful national election in the final year of his term. In an interview conducted by Secretary of the Presidential Communications Office Martin Andanar, aired on Friday, the President said he tasked Defense Secretary Delfin Lorenzana to ensure that the May elections will be free, orderly and peaceful. He reminded law enforcement authorities to uphold the Constitution during the elections, warning politicians who plan to do otherwise.

Largest vessel delivered to PCG

THE largest vessel acquisition to date of the Philippine Coast Guard (PCG), the 97-meter multi-role response vessel (MRRV)-9701, finally arrived in the country Saturday morning. PCG officers and personnel, led by Officer in Charge Vice Admiral Eduardo Fabricante, welcomed the ship at the Port Area in Manila. Once commissioned as BRP Teresa Magbanua, the ship will be used to assist in the operation of the PCG Task Force Pagsasanay. The PCG Task Force Pagsasanay is at the forefront of promoting maritime security, safety, law enforcement, search and rescue, and marine environmental protection in Philippine waters. The MRRV-9701 — modeled after the Japan Coast Guard Kunigami-class vessels — is the first of two 97-meter vessel projects financed by the Japanese government under Phase 2 of the Maritime Safety Capability Improvement Project (MSCIP) between the Philippine government through the DoTr and Japan in October 2016.

BUSINESS: Taxiway upgrade to improve traffic

In business, the completion of the repair and upgrade works of taxiways will significantly improve the flight movement and air passenger safety at the Ninoy Aquino International Airport (NAIA), the Department of Transportation (DoTr) said. The Transportation department and the Manila International Airport Authority (MIAA) inaugurated the upgraded Taxiway Charlie, the main taxiway going to all the terminals of the airport.

SPORTS: Gilas faces acid test versus New Zealand

Topping sports, the Philippines scored an easy 88-64 victory over India on Friday night, but the newly formed Gilas team will face its toughest test on Sunday, February 27, against the New Zealand Tall Blacks. Its victory over India was the team's first game together as a unit in the FIBA World Cup Asian Qualifiers and counting the victory by forfeiture over arch rival South Korea on Thursday, the Philippines is currently 2-0 in the qualifying tournament.

Opinion and editorial

Today's front page columnist is Marlen Ronquillo. He weighs in on the situation in Ukraine.

Our editorial today calls on people to remain cautious, amid a dip in new Covid-19 cases. Read a full version on the paper's opinion section or listen to the Voice of the Times.

For more news and information, get a copy of The Manila Times on print, subscribe to its digital edition or log on to www.manilatimes.net. Follow us on Twitter, Facebook or Instagram and Keep Up With The Times.

For The Manila Times, this is Paulo Dimaapi.