Good day. Here are the stories for The Manila Times for Wednesday, December 14, 2022.
READ: Enrile urges Marcos: Review Maharlika bill
CHIEF Presidential Legal Counsel Juan Ponce Enrile has urged President Ferdinand "Bongbong" Marcos Jr. to "carefully" review a bill seeking to create the controversial Maharlika Investment Fund (MIF) amid growing fears of the public over possible misuse of government funds. In an interview over Sonshine Media Network International over the weekend, Enrile said measures should be in place to ensure the integrity of the planned P275-billion sovereign wealth fund.
READ: Financial illiteracy slows PH insurance growth
POOR financial literacy among Filipinos has slowed the growth of the Philippine insurance industry, an official of the Insurance Commission (IC) said on Tuesday. During The Manila Times' forum "Insurance Truth and Consequence," IC Deputy Commissioner Ferdinand George "Bong" Florendo, citing a report on Sept. 9, 2022, which cited a World Bank report, said the Philippines lags behind its Southeast Asian neighbors in terms of financial literacy. The Philippines had a 25 percent rating, compared to 59 percent in Singapore and 36 percent in Malaysia.
READ: PH eyes 'strategic' ties with Belgium
President Ferdinand "Bongbong" Marcos Jr. will push for a four-year "strategic partnership" with Belgium in various fields of cooperation when he meets with King Philippe, the leader of this country's constitutional monarchy. Marcos' royal audience with the king on Tuesday night (Manila time) is scheduled ahead of his participation in the Association of Southeast Asian Nations-European Union (Asean-EU) Commemorative Summit. He said the Philippines' 76 years of bilateral relationship with Belgium "continue to flourish," and he would like for both countries' ties to remain "strong and vibrant."
READ: PAO chief, Sy among TOFIL awardees
PUBLIC Attorney's Office (PAO) chief Persida Rueda-Acosta and SM mall owner Hans T. Sy were among those honored by the Junior Chamber International Senate Philippines (JCISP) which presented The Outstanding Filipino (Tofil) 2022 on Monday night. Acosta, a columnist of The Manila Times was one of the five top awardees. The JCISP led by National President Henry Juan Tong and national chairman, Tofil Awards 2022, Felipe Briones, held the awarding ceremonies under this year's theme "Resiliency in Rebuilding our Nation" at the Rizal Park Hotel, Manila on Dec. 12, 2022. Also honored were Sy, engineer Maria Catalina Estomo-Cabral, sculptor Nemesio "Nemi" Miranda Jr. and scientist Dr. Ruben Lopez Villareal.
READ: Register SIM cards early, NTC urges public
FILIPINOS should do away with the mañana habit and start registering their SIM cards before the deadline to avoid losing their mobile numbers, a consultant of the National Telecommunication Commission (NTC) said on Tuesday. NTC Consultant Edgardo Cabarrios said that there will be more than enough time for the SIM card users to register all their numbers. Registration will start on December 27. Cabarrios warned that failure to register will result in the deactivation of SIM cards.
BUSINESS: Trade gap further narrows in October
Over to business, the country's trade deficit narrowed for a second straight month in October as exports of goods improved, the Philippine Statistics Authority (PSA) reported on Tuesday. At $3.31 billion, the shortfall was 13.5 percent less than the $3.83 billion recorded a year earlier. It was at $4.84 billion in September and $6.0 billion in August. The PSA said in a statement that the trade deficit in the previous month recorded an annual increase of 27.1 percent while in October 2021 it posted an annual increase of 86.6 percent. Export receipts expanded by 20 percent year on year to $7.7 billion, faster than the 7.1-percent and 2.0-percent upticks, respectively, a month and a year earlier. Imports, meanwhile, amounted to $11 billion and were up 7.5 percent — faster than September's 14.4 percent and the 22.8 percent in October last year. Total external trade in goods reached $18.70 billion, 12.3 percent higher than the $16.64 billion posted in the same month in 2021.
SPORTS: UP eyes 2nd UAAP crown in 7 months
Topping sports, after 36 years of waiting to end a title drought in the University Athletic Association of the Philippines (UAAP), the University of the Philippines (UP) Fighting Maroons will have a chance to win consecutive championships in seven months time. The defending champion are looking to sweep the best-of-three UAAP men's basketball titular duel against Ateneo de Manila today, December 14, exactly seven months and a day after the Fighting Maroons edged the Blue Eagles in game three of the pandemic-delayed Season 84 Finals. Game time is 6 p.m. at the Smart Araneta Coliseum in Quezon City. UP took game one over Ateneo last Sunday, 72-66. Malick Diouf, Harold Alarcon and Zavier Lucero joined hands to make that victory possible, pulling off key plays down the stretch that enabled the Fighting Maroons to keep the Blue Eagles at bay.
Rigoberto Tiglao and Francisco Tatad are today's front page columnists. Tiglao discusses the Marcos administration's first case of failure in governance, while Tatad continues his column series on rethinking sovereign wealth.
Today's editorial calls out the agriculture sector on opposing the Regional Comprehensive Economic Partnership. 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.