Philippine News Agency (PNA) – Page 18

DTI reminds businesses that permits should first be secured for marketing stunts

April 26, 2024April 12, 2024carlocarrasco

In light of an April Fool’s Day promo that convinced a person to really take the challenge physically, the Department of Trade and Industry (DTI) reminded businesses that they should secure permits from them in order to do any marketing stunts, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Following the recent online uproar over takoyaki store’s marketing stunt on April Fool’s Day, the Department of Trade and Industry (DTI) reminded businesses to secure permits from the agency first before conducting such activity.

In an interview with Bagong Pilipinas Ngayon on Thursday, DTI Assistant Secretary Amanda Nograles said a marketing stunt falls under the definition of sales promotion because its purpose is to increase customers and sales, as well as to promote the brand.

“Under the regulations, DTI has the authority over that. They have to secure a permit (for sales promotion),” Nograles said in mixed English and Filipino.

To recall, takoyaki store “Taragis” posted on Facebook on April Fool’s Day a dare to tattoo Taragis’ logo on one’s forehead, and whoever will do it will receive a PHP100,000 prize.

A person commented on a photo of him with the store’s logo on his forehead and asking the business owner, Carl Quion, where to claim his prize.

Taragis’ Facebook page made another post that the establishment does not have any responsibility on what happened because the post had a disclaimer.

The event caused uproar online, and on April 6, the business owner admitted that it was all a marketing stunt and the person who tattooed the business logo on his forehead was an accomplice.

“The establishment admitted that it’s a marketing gimmick to lure (customers), promote the establishment, (so) it appears to be promotional in that sense,” Nograles said.

“If they don’t have the promo permit from DTI, they can be held responsible for the violation of conducting (the) promotion without securing first the sales of promo permit,” she added.

Nograles said the DTI has a team monitoring establishments on their conduct of sales promotion both onsite and online.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that all businesses here in the Philippines that intend to organize marketing stunts should contact the DTI first before executing such moves? Do you think that more Filipinos should understand that April Fool’s Day itself always comes with clever forms of deception and temptation?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Ultra Safe Nuclear Corp. (USNC) nuclear energy investment plan for Philippines moves forward

April 25, 2024April 12, 2024carlocarrasco

Recently the administration of Philippine President Ferdinand “Bongbong” Marcos, Jr., and top officials of the Ultra Safe Nuclear Corp. (USNC) met in Washington, D.C., and discussed the progress of the company’s nuclear energy investment plan in the country, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

President Ferdinand R. Marcos Jr. on Friday (Manila time) hailed the developments in the planned nuclear energy investment of Washington-based Ultra Safe Nuclear Corp. (USNC) in the Philippines.

Marcos met with USNC’s top executives, led by its chief executive officer Francesco Venmeri, in the United States (US) to discuss the progress in the firm’s commitment to bring a reliable and clean energy source to the Philippines.

“We are delighted to share the progress of our ongoing collaboration with Ultra Safe Nuclear Corp. since our inaugural meeting in 2023. Their investment in Micro Modular Reactors (MMRs) promises a reliable and clean energy solution for the country,” Marcos said in a Facebook post after his meeting with USNC officials.

“This initiative ensures greater energy security, reduced reliance on fossil fuels, and holds the promise of substantial economic gains for the Filipino people.”

During the meeting with USNC executives, Energy Secretary Rafael Lotilla briefed Marcos about the ongoing legislative measures in Congress that would provide the legal framework for the company’s planned investment and operation in the Philippines.

Lotilla told Marcos that the regulatory framework has been passed by the House of Representatives.

On Nov. 22, 2023, the House approved House Bill 9293, or the “Philippine National Nuclear Energy Safety Act, ” and last March 4, it also approved HB 9876 or the “Philippine Nuclear Liability Act.”

Marcos expressed hope that the bill gets passed in the Senate so that the necessary legal requirements could be completed soon to commence the project.

“You’re done already in the House. Okay. So, the elements that need to be there, the provisions that need to be (included), we can do in the Senate and then there’s one of course, is the bicam down the road. So, that would be the process from the government side,” the President said during the meeting.

“We spoke about this before. We’re going to go ahead with the program, with (the) project.”

Marcos’ meeting with USNC officials is a follow-up of their initial meeting in the US in May 2023, followed by the signing of the memorandum of understanding (MOU) on nuclear cooperation in Nov. 2023, and the firm’s participation in the US Presidential Trade and Investment Mission to the Philippines in March 2024.

The USNC is a global leader and vertical integrator of nuclear technologies and services. Its major initiatives include the MMR, Fully Ceramic Micro-encapsulated (FCM) nuclear fuel, and nuclear power and propulsion technologies for space exploration.

The MMR is a fourth-generation nuclear energy system that delivers safe, zero-carbon, cost-effective electricity and heat to utilities, industry, and remote communities.

This will be USNC’s first investment in the country and it partnered with Meralco for an MMR study.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you feel confident that safe and secure nuclear energy in the Philippines will be realized before the decade ends? Are people in your local community knowledgeable about the potential benefits of nuclear energy?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Foreign direct investments (FDI) inflows jump almost 90% in February 2024

April 23, 2024April 10, 2024carlocarrasco

The data released by the Bangko Sentral ng Pilipinas (BSP) confirmed that foreign direct investments (FDI) net inflow went up by almost ninety percent in February 2024, according to a Philippine News Agency (PNA) news article. In terms of Dollar amount, the estimate was over $900 million.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Foreign direct investments (FDI) net inflow went up by 89.9 percent in February this year.

Data released by the Bangko Sentral ng Pilipinas (BSP) on Wednesday showed that FDI net inflows during the month amounted to USD907 million, up from the USD478 million recorded in January 2023.

FDIs include investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent, and investment made by a non-resident subsidiary or associate in its resident direct investor.

The BSP said an FDI can be in the form of equity capital, reinvestment of earnings, and borrowings.

“The increase in FDI was supported mainly by the 173.2 percent expansion in non-residents’ net investments in debt instruments to USD820 million from USD300 million in January 2023,” said the BSP.

Reinvestment of earnings also increased by 16.4 percent to USD99 million from USD85 million. The BSP said top sources of FDIs during the month include Japan and the United States.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there is enough momentum for FDI net inflow to exceed the $1 billion mark by the first few months of 2025? Do you think the government is doing a good job attracting foreign investments?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

Philippines unemployment rate falls down to 3.5% in February 2024

April 23, 2024April 11, 2024carlocarrasco

Recently the Philippine Statistics Authority (PSA) confirmed that the unemployment rate of the nation fell down to 3.5% in February 2024, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Unemployment rate fell to 3.5 percent in February this year from 4.5 percent in January, the Philippine Statistics Authority (PSA) reported on Thursday.

In a briefing, National Statistician Dennis Mapa said based on the time series, the unemployment rate during the month was the second lowest on record since the 3.1 percent in December 2023. Unemployment rate in February last year was 4.8 percent.

Mapa said the number of unemployed Filipinos went down to 1.80 million from 2.47 million and 2.15 million unemployed persons in February 2023 and January 2024.

The Labor Force Participation Rate (LFPR), meanwhile, was at 64.8 percent or about 50.75 million Filipinos aged 15 years and above who were either employed or unemployed.

This is lower than the 66.6 percent LFPR seen in February last year with young people (-669,000) and women (-404,000) withdrawing from the labor force. 

“The needs of vulnerable groups, including women, youth, older people, and those with disabilities, remain our priority to encourage workforce participation. We will improve access to quality childcare, finance, and entrepreneurship opportunities to support women’s entry and retention in the labor market,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said in a separate statement.

Balisacan said the government will revisit the existing policy governing alternative work modes, such as the Telecommuting Act, and adapt it to the evolving work landscape to address the growing preference for remote work.

“The government will explore enhancing the potential of part-time work to help promote lifelong learning. A framework for part-time work and similar set-ups can allow workers to retool or upskill without leaving the workforce,” Balisacan said.

The country’s employment rate, meanwhile, went up to 96.5 percent in February from 95.5 percent in January and 95.2 percent in February this year.

The number of employed persons was registered at 48.95 million, higher than the recorded number of employed persons in February 2023 at 48.80 million and in January 2024 at 45.94 million.

Major industries with the largest increase in employment include construction (470,000), transportation and storage (444,000), administrative and support service activities (344,000), manufacturing (313,000), and accommodation and food service activities (210,000).

Underemployed persons – or those who expressed the desire to have additional hours of work in their current job or to have an additional job or to have a new job with longer hours of work – reached 6.08 million, down from last year’s 6.29 million.

The NEDA said the Marcos administration will continue to prioritize people-centered policies and attract job-creating investments to support the continued improvement of the Philippine labor market and enable Filipinos to earn higher wages from better jobs.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the nation’s economy and employers still have enough momentum to move forward and create more new jobs over the next twelve months?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Civilian arrested in Parañaque City for unauthorized wearing of PNP uniform

April 18, 2024April 9, 2024carlocarrasco

Recently in the City of Parañaque, another case of the usurpation of authority happened as a civilian was arrested by police officers at the Parañaque Integrated Terminal Exchange (PITX) for the unauthorized wearing of the Philippine National Police’s (PNP) athletic uniform, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is the excerpt from the PNA news article. Some parts in boldface…

Police officers apprehended a civilian clad in the athletic uniform of the Philippine National Police (PNP) while taking selfies in Parañaque City.

In a report Tuesday, Staff Sgt. Jeffrey Tupil of the Southern Police District (SPD) said he was aboard a bus when he saw the 38-year-old suspect, identified as alias “Jefferson,” along Coastal Road on Monday.

Tupas said the suspect was wearing the shirt of the PNP athletic uniform, jogging pants, and slippers and appeared to be taking selfies.

Upon reaching the Parañaque Integrated Terminal Exchange (PITX), Tupil approached the suspect and requested him to present his PNP identification card, which the suspect failed to show.

Tupil promptly contacted Sub-Station 2 of the Parañaque City Police, which immediately sent officers who apprehended the suspect and took him to the station for documentation and proper disposition.

“Unauthorized wearing of PNP uniforms is strictly prohibited and anyone caught will be criminally held liable for Usurpation of Authority under RPC (Revised Penal Code) Art. 177 (Usurpation of Authority of Official Function) and Art. 179 (Illegal Use of Uniforms and Insignias),” the SPD said in a statement.

Let me end this piece by asking you readers: What do you think about this recent development? If you are a resident of Parañaque, are you concerned that there could be more civilians who somehow acquired uniforms from authorities which they could use to fool and intimidate others? Are many people in your local community aware that the usurpation of authority is a serious crime?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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DBCC revises Philippine economic growth targets for 2024 and 2025

April 17, 2024April 7, 2024carlocarrasco

As far as the Development Budget Coordination Committee (DBCC) is concerned, current domestic and global developments justified their recent revision of economic growth targets for the Philippines in 2024 and 2025, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Development Budget Coordination Committee (DBCC) has adjusted its economic growth targets for 2024 and 2025 due to current domestic and global developments.

The DBCC revised downward its gross domestic product (GDP) outlook for 2024 to 6 to 7 percent from the previous range of 6.5 to 7.5 percent, Socioeconomic Planning Secretary Arsenio Balisacan said in a Palace press briefing on Thursday.

For 2025, the DBCC narrowed the GDP target to 6.5 to 7.5 percent from the previous 6.5 to 8 percent. Balisacan said the growth projection of 6.5 to 8 percent for 2026 to 2028 was retained.

The revised targets growth targets were initially discussed during the DBCC’s 187th meeting on March 22.

The DBCC took into consideration the latest trade outlook of the Bangko Sentral ng Pilipinas (BSP) and the International Monetary Fund (IMF) amid global trade disruptions and geopolitical tensions.

President Ferdinand R. Marcos Jr. approved the latest GDP outlook when he presided over the 16th full Cabinet meeting at Malacañan Palace in Manila on Wednesday.

Balisacan said the Marcos administration remains steadfast in its commitment to sustaining the robust growth trajectory of the Philippine economy.

“Robust macroeconomic fundamentals will support this growth trajectory. These growth targets will sustain the country’s position as one of the fastest-growing emerging economies in the Asia Pacific region,” Balisacan said.

“The government’s dedication transcends meeting statistical targets or numerical benchmarks. We direct our efforts toward realizing a strategic and compelling vision for our nation’s prosperity even as we navigate a global economic landscape marked by various challenges within and without,” he added.

Balisacan also assured the public that the government is still on track to achieving the upper middle income status by 2025.

Opportunities and risks – Balisacan said the country’s economic team discussed the possible opportunities and risk to growth outlook, adding that it identified several domestic and external challenges that are “on the horizon.”

These include climate change and extreme natural disasters such as El Niño that would “continue to pose risks to food security and the stability of food prices,” he said.

“Additionally, risks related to inflation, such as potential adjustments in transport fares, wages, and service utility fees higher than expected, could dampen household consumption,” he said.

Balisacan also cited that global economic slowdown may weaken external demand, while increasing geopolitical and trade tensions could disrupt supply chains.

He added that general elections in major economies could lead to political shifts that may disrupt trade and investment.

“Despite the anticipated risks, we remain optimistic about the country’s sustained growth momentum as we strive for better development outcomes. We aspire to position the Philippines as a frontrunner within our region and beyond—a beacon of inclusive progress and resilience,” Balisacan said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will end up growing at a lower-than-expected pace?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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HSBC remains committed to investing in the Philippines and supporting the government’s economic agenda

April 16, 2024April 5, 2024carlocarrasco

Recently the huge international financial firm The Hongkong and Shanghai Banking Corporation (HSBC) confirmed its commitment to investing in the Philippines and supporting the government’s economic agenda which President Ferdinand “Bongbong” Marcos, Jr., welcomed, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

President Ferdinand R. Marcos Jr. on Thursday welcomed the commitment of the Hongkong and Shanghai Banking Corporation (HSBC) to support the government’s economic agenda and continue to invest in the Philippines.

HSBC Holdings Group officials, led by its Chairman Mark Tucker, paid a courtesy visit to the President at the Malacañan Palace and expressed its intention to continue expanding in the country.

“Today, we are left as one of the few international banks. But our commitment to the Philippines, and continuing to invest, continuing to work here remains absolutely intact,” Tucker told Marcos.

He added that HSBC, which has been operating in the Philippines for almost 150 years, is interested in expanding its investment in the Philippines, particularly on foreign direct investment (FDI), saying it “supports FDI by a number of different ways.”

For his part, the chief executive acknowledged the significant contributions of HSBC to the Philippine economy, pointing out the “interconnections” it has made in the country.

“Thank you again for HSBC’s continued interest. We continue to encourage (foreign investments). The economy, actually, we’ve tried to open it up, we put very, we put much (importance)… on the fact that private partnerships are necessary,” Marcos said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think HSBC’s commitment will encourage other international financial firms and foreign investors to support the national economy?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Philippine exports of goods and services surpassed $100 billion in 2023

April 11, 2024April 2, 2024carlocarrasco

For the year 2023, Philippine exports of good and services reached over $100 billion based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), according to a Philippine News Agency (PNA). By comparison, less than $100 billion was achieved in 2022.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Despite global trade challenges, Philippine exports surpassed the USD100-billion mark in 2023, an all-time high revenue for the country’s outbound trade.

The Department of Trade and Industry (DTI) said in a statement Monday that based on the balance of payments (BOP) from the Bangko Sentral ng Pilipinas (BSP), exports of goods and services reached USD103.6 billion. This is higher by 4.8 percent from the total exports of USD98.8 billion in 2022.

DTI Secretary Alfredo Pascual said this is the first time the Philippines breached the USD100-billion mark in export revenues.

Pascual said the strong exports last year was driven by services, especially the information technology and business process management (ITBPM) and tourism services.

Services exports rose 17.4 percent in 2023 to USD48.29 billion from USD41.12 billion in 2022.

According to the Information Technology and Business Process Association of the Philippines, ITBPM revenues last year stood at USD35.5 billion, while government data showed that travel services reached USD9.1 billion last year.

On the other hand, exports of goods last year declined by 4.1 percent to USD55.32 billion from USD57.71 billion in 2022.

The country’s top goods export alone, electronics, decreased by 3.4 percent or USD955 million in 2023 compared to its previous year.

“This decline highlights the importance of diversifying export portfolios and enhancing competitiveness in key sectors,” the DTI said.

“The path to global excellence and export growth requires shared ambition, where the government and the private sector must intensify and sustain collaborations. Our guideline is the Philippine Export Development Plan (PEDP) 2023-2028, which aims to address constraints to production, diversify and improve access to markets, and develop a strong and innovative export ecosystem,” Pascual said.

However, export revenues last year were USD23.2 billion away from the PEDP target of USD126.8 billion for 2023.

“We recognize the ongoing challenges in both the domestic and global trading environments and hope to address the binding constraints to Philippine export competitiveness as we continue to implement the PEDP for 2023 to 2028,” the DTI chief added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think the Philippines can achieve at least $100 billion worth of export revenue this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Two CPP-NPA members charged for financing terrorism

April 8, 2024March 27, 2024carlocarrasco

Two members of the Communist Party of the Philippines/New People’s Army (CPP-NPA) were charged for financing terrorism and the Department of Justice (DOJ) claims it found compelling evidence against the suspects, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

The Department of Justice (DOJ) on Wednesday said it found compelling evidence to indict two members of the Communist Party of the Philippines/New People’s Army (CPP-NPA) responsible for collecting revolutionary funds and financing terrorism.

Following information gathered by the Philippine National Police–Criminal Investigation and Detection Group (PNP-CIDG), accused Leonor Taguinod Dumlao and Valentin Cruz Tolentino will be charged with violation of Section 8 of R.A. No. 10168, known as “The Terrorism Financing Prevention and Suppression Act of 2012.”

The charges will be filed before the Batangas City regional trial court, the DOJ said in a statement.

The two were originally arrested under Oplan Paglalansag in Mindoro Oriental and Rizal in August 2023.

According to reports, the two accused possessed firearms and ammunition with no definite source of income or apparent purpose, prompting authorities to initiate background checks and collaborate with intelligence counterparts from the National Bureau of Investigation (NBI) and Intelligence Service of the Armed Forces of the Philippines (ISAFP) to ask the court’s issuance of search warrants against the two.

Authorities discovered firearms, ammunition, improvised explosive devices (IEDs), IED components, and a significant sum of money.

Dumlao and Tolentino, the DOJ said, are alleged members of the National Finance Commission (NFC) of the CPP/NPA which had direct involvement in demanding money from construction firms, telecommunication companies, bus companies, mining companies, and businessmen in the guise of “revolutionary taxes.”

The two were also allegedly responsible for the creation of the National Economic Striking Force (NESF) of the CPP/NPA, which serves as security of the “Rebolusyonaryong Buwis sa Kaaway na Uri” or the RBKU.

“We will never let even an inch of terrorism’s tyranny sow fear among our citizens, much more let the cowards behind this menace run free. This is a time when we Filipinos should fortify our resolve and show our resilience in fighting this evil,” Justice Secretary Jesus Crispin Remulla said.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think there are several Communists here in the Philippines who are secretly financing terrorism, smuggling weapons and plotting chaos? Do you think the young leftist activists living in your local community could secretly be agents of the CPP/NPA?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Scammers who pretended to be DBM personnel arrested by NBI

April 8, 2024March 27, 2024carlocarrasco

Here in the Philippines, scammers are almost everywhere. There are scammers who will send you direct electronic messages or call you with offers of job openings, promos, investment opportunities, subscriptions and the like. What caught my attention was the National Bureau of Investigation’s (NBI) recent apprehension of scammers who posed as personnel of the Department of Budget and Management (DBM), according to a news article published by the Philippine News Agency (PNA).

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Operatives of the National Bureau of Investigation (NBI) arrested on Tuesday eight individuals pretending to be officials and employees of the Department of Budget and Management (DBM) in an entrapment operation in Mandaluyong City.

The DBM, in a news release Wednesday, said one of the suspects introduced herself to the complainant as an Undersecretary of the DBM supposedly in charge of the agency’s “special projects.”

The scammers promised the complainant, who is a project contractor, access to some PHP1.3 billion worth of government projects involving the construction of a dam.

The suspects assured the complainant that the project will be awarded to her once “grease money” was provided for the project’s “Blue Print” to initiate the processing of documents for the project award.

The illicit activity was uncovered after the contractor conducted an initial verification with the DBM.

After receiving and accommodating the complaint, the DBM sought the help of the NBI to carry out an entrapment operation where the suspects were arrested after accepting the PHP500,000 marked money.

“Mariin po nating kinokondena ang ganitong klaseng gawain. May proseso po tayong sinusunod na naaayon sa mga umiiral na batas (We strongly condemn this kind of activity. We have a process that is consistent with existing laws),” Budget Secretary Mina Pangandaman said.

She said the DBM is hoping that the incident will “send a strong statement to the public” that it will never tolerate fraudulent activities.

“Seryoso po ang DBM sa paglaban sa katiwalian gaya po ng ganitong mga gawain. Kaya naman po hinihikayat ko po ang taumbayan na agad magsumbong at i-report kung may mga mae-encounter sila na ganitong mga indibidwal (The DBM is serious about fighting corruption. That’s why I encourage the people to immediately report if they encounter scrupulous individuals),” Pangandaman added.

Let me end this piece by asking you readers: What is your reaction to this recent development? Are you concerned that there could be a lot more scammers out there pretending to be representatives or officials of government departments or corporations trying to deceive people over their money? Have you been scammed before?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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