Good day. Here are the stories for The Manila Times for Friday, January 27, 2023.
READ: PH growth exceeds target
THE Philippines' economic growth beat expectations last year, fueled by strong consumer spending despite rising prices, officials said Thursday. Gross domestic product (GDP) expanded 7.6 percent in 2022, faster than the pandemic-blighted 5.7 percent output in 2021, Socioeconomic Planning Secretary Arsenio Balisacan said in a briefing. The reading topped the government's target of 6.5-7.5 percent growth. Growth in the last three months of the year also beat expectations, expanding 7.2 percent against a 6.6 percent median estimate in a Bloomberg survey of economists.
BUSINESS: 'Hot money' flows post 2022 rebound
Meanwhile, foreign investments turned positive last year, the Bangko Sentral ng Pilipinas (BSP) reported on Thursday, with so-called "hot money" rebounding from 2021's $574-million net outflow to a net inflow of $887 million. Transactions involving shares in Philippine Stock Exchange (PSE)- listed firms hit a net $179 million, the BSP said in a statement, also reversing from the previous year's outflow of $956 million. Investments in peso-denominated government securities saw net inflows of $694 million, improving from 2021's $398 million. The transactions, originally called foreign portfolio investments, are also referred to as "hot money" given the ease by which the funds can be moved in and out of an economy.
READ: Govt, private sector not ready for an energy crisis
THE government and the private sector need to work together to head off an energy crisis, the country's chief energy regulator said Thursday. Guesting at a forum organized by The Manila Times in partnership with Aboitiz Power, Energy Regulatory Commission (ERC) Chairman and CEO Monalisa Dimalanta said the government and private sector are not doing enough to avert such a crisis. Dimalanta admitted there is not enough collaboration between the two sectors in looking for immediate solutions for high electricity costs and soaring fuel prices.
READ: DA confirms eggs overpriced
AN official of the Department of Agriculture (DA) on Thursday said the eggs sold in Metro Manila markets are overpriced by at least P1.50 per piece. In an interview with The Manila Times, Agriculture deputy spokesman Rex Estoperez said that based on his inspection in Mindoro Occidental, the retail price of eggs only rose by 50 centavos per piece. The province gets its eggs from Batangas, which also supplies Metro Manila.
READ: Marcos wants passage of Magna Carta for BHWs
PRESIDENT Ferdinand Marcos Jr. has pushed for the passage of a Magna Carta for Barangay Health Workers (BHWs) in recognition of their invaluable services as frontliners. House Bill 6557, which mandates the giving of a P3,000 monthly honoraria among other benefits to BHWs, was approved by the House of Representatives on the third and final reading on December 2022. Marcos said he was happy to learn from the Presidential Legislative Liaison Office (PLLO) that the Magna Carta for BHWs has been approved by the House.
READ: Suspect in Dacer-Corbito murder surrenders
ONE of the suspects in the Dacer-Corbito double murder case has been arrested, the Philippine National Police (PNP) said on Thursday. The case has been ongoing for more than two decades. The suspect, identified as former SPO1 William Reed 3rd, was nabbed in a joint operation by several units of the PNP on Sunday, January 22 in Pulilan, Bulacan. The 57-year-old Reed is considered a most wanted person at the national level, after a warrant for his arrest was issued on May 21, 2001, by Manila Regional Trial Court Branch 41 Judge Rodolfo Ponferrada. He is currently detained at a facility of the Regional Special Operations Group. Publicist Salvador Dacer, whose clients included former presidents Fidel V. Ramos and Joseph Estrada, and his driver Emmanuel Corbito were abducted at the intersection of South Superhighway and Zobel Roxas Street at the city boundary of Makati and Manila on Nov. 24, 2000.
READ: Tulfo open to another govt stint
FORMER Department of Social Welfare and Development (DSWD) secretary Erwin Tulfo said he is willing to hold another post in government as long as it will have to do with public service. last year after being bypassed by the Commission on Appointments (CA) twice. In an interview with The Manila Times, the veteran broadcaster and former Times columnist is the executive director of ACT-CIS' social services division. Tulfo said that last December, Marcos told him "there was something" for him after his DSWD stint. Last week, the President said he wanted to keep Tulfo in his administration because of his good performance in helping people. Tulfo said he had "no regrets" in accepting the DSWD post, since he loved "working and helping."
REGIONS: Flood-hit Davao del Norte declares state of calamity
Widespread flooding submerged several towns in Davao del Norte and killed at least two residents, prompting the provincial government to declare a state of calamity on Thursday. According to the office of the provincial governor, the declaration came after the damage that Davao del Norte suffered in agriculture and infrastructure in six local government units (LGUs) as a result of bad weather conditions across the Davao Region this week. At least P50 million worth of infrastructure and agriculture was damaged.
SPORTS: TNT shoots for win number 2
Over to sports, TNT shoots for its second straight win when it collides with dangerous Rain or Shine as action continues in the 2022-23 PBA Governors' Cup today, January 27, at the Ynares Center in Antipolo City. The Tropang Giga opened the season-ending conference with a 123-119 win over the Phoenix Fuel Masters last Wednesday, rewarding new coach Jojo Lastimosa a winning debut in the process. Lastimosa and TNT though can expect rough sailing against Rain or Shine, which is coming off a 105-87 beating at the hands of Meralco on opening day last Sunday. Game time is at 5:45 p.m. Jalen Hudson debuted for TNT with 34 points and 10 rebounds, while getting plenty of help from the locals. The former University of Florida standout will be facing RoS reinforcement Michael Qualls, who had a rough start with his new team after finishing with just 14 points on a 3-of-22 shooting from the floor.
READ: Opinion and editorial
Rigoberto Tiglao and Francisco Tatad are today's front page columnists. Tiglao continues his series on the illegal mining operations of Yinglong Steel, while Tatad weighs in on President Marcos' recent visit at the World Economic Forum in Davos, Switzerland.
Today's editorial discusses the recent tank deals in ongoing conflict between Russia and Ukraine. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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For The Manila Times, this is Kim Isabelle Dignadice.