Good day. Here are the stories for The Manila Times for Saturday, November 5, 2022.
READ: Inflation races to 14-year high
INFLATION in the country surged to 7.7 percent in October, the highest increase in 14 years, the Philippine Statistics Authority (PSA) reported on Friday. The rate is likely to rise further in the last two months of the year, the PSA said. It rose from 6.9 percent in September and almost doubled the 4.0 percent a year earlier. The increase was higher than the 7.3 percent median in The Manila Times' poll of analysts and was near the upper end of the Bangko Sentral ng Pilipinas' (BSP) 7.1 to 7.9 percent range for the month. The last time consumer price growth was higher was in December 2008 when it hit 8.2 percent.
BUSINESS: Trade gap narrows in September
THE Philippines' trade gap narrowed in September following an exports recovery, Philippine Statistics Authority (PSA) data released on Friday showed. At $4.82 billion, the deficit was an improvement compared to August's record $6.02 billion. It was bigger, however, compared to the year-earlier $3.8 billion. A trade deficit occurs when imports outpace exports. Of the $19.15 billion in total external trade for the month, imports accounted for 62.6 percent while the rest were exports, the PSA said in a statement.
READ: Marcos: Japan a 'solid, steadfast' ally of PH
JAPAN continues to be a "solid and steadfast" ally of the Philippines, President Ferdinand Marcos Jr. said, as he expressed his intent to strengthen the two countries' collaboration in areas of mutual interest. Marcos made the commitment during his meeting with Mori Masafumi, the Special Advisor to Japanese Prime Minister Fumio Kishida, in Malacañang on Thursday.
READ: Ex-BuCor official named as Lapid slay mastermind
SEVERAL inmates now under the custody of law enforcement agencies have identified a former Bureau of Corrections (BuCor) official as one of the masterminds in the killing of broadcaster Percival Mabasa, more popularly known as Percy Lapid. Veteran journalist Roy Mabasa, Percival's brother, said the name of the former BuCor official appeared in the sworn testimonies of the inmates that were submitted to the National Bureau of Investigation (NBI).
READ: 'Paeng' agri, infra damage at P5.6B
THE National Disaster Risk Reduction and Management Council (NDRRMC) on Friday said the estimated damage to infrastructure and agriculture from Severe Tropical Storm "Paeng" is now at P5.6 billion. In its latest situation report, the NDRRMC also said damage to infrastructure is at P2,913,010,844.50. This covers 391 structures across the country that include roads; bridges; flood-control projects; government, health and utility services facilities; and schools.
READ: Students decry cuts in UP, SUCs budget
STUDENT leaders from across the University of the Philippines (UP) system and other state universities and colleges cry foul over the budget cuts imposed on SUCs for the coming fiscal year. In a news conference, UP Diliman Student Council president Latrell Andrei Felix called on the university administration to push for the restoration of the slashed budget as decreased funding will be detrimental to students' learning. UP would suffer a budget cut of P2.5 billion for 2023 while other SUCs will face over P545 million cuts.
SPORTS: Red-hot Converge collides with NLEx
Over to sports, Converge tries to sustain its meteoric rise to the top as the FiberXers shoot for their fifth straight win when they collide with the NLEx Road Warriors in the 2022-23 PBA Commissioner's Cup today, November 5, at the Ynares Center in Antipolo City. The FiberXers zoomed to solo third spot last week after beating the TNT Tropang Giga and the Blackwater Bossing, respectively en route to a 5-2 record, heading to the All Saints' Day break. Despite its impressive rise to the top 3 in the standings, Ayo feels his team is far from where he envisions Converge to be.
Antonio Contreras, Yen Makabenta and Danton Remoto are today's front page columnists. Contreras believes there is a political literacy crisis, Makabenta tackles the creative economy, while Remoto discusses the decolonization of Africa.
Today's editorial weighs in on the recent meatless Fridays declaration by the Roman Catholic Church. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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On behalf of The Manila Times, this is Aric John Sy Cua reporting. Have a safe weekend ahead.