Good day. Here are the top stories of The Manila Times for Monday, Jan. 23, 2023
READ: De Ocampo sees slower PH growth
FORMER Finance secretary Roberto de Ocampo said he is cautiously optimistic about the country's economic prospects for this year. Currently the Philippine Veterans Bank chairman, de Ocampo said in an exclusive interview on SMNI's "Business and Politics" program hosted by Manila Times Chairman and CEO Dante "Klink" Ang 2nd on Saturday, Jan. 21, 2023 that despite the difficulties brought by the coronavirus pandemic, the country ended 2022 on a positive note, posting a growth rate of 7 percent. De Ocampo was Finance chief during the term of president Fidel V. Ramos. In spite of the achievements in 2022, de Ocampo believes that the economic rebound might not be as robust this year because some problems will persist. De Ocampo said one of the biggest challenges the country will face in 2023 is how to keep inflation within bounds. while others that are coming externally continue to be there. He predicted that the impending recession in the United States will have a global fallout. But de Ocampo is more worried about the recession that has engulfed Western Europe, fueled by the war in Ukraine and the economic sanctions on Russia. The Philippine government must resort to policy interventions to mitigate the adverse effects of the recession in Europe, he said.
READ: PH lauded for spearheading growth
THE international business community hailed the Philippines for leading the economic recovery not only in the Asia-Pacific but in the whole world, President Ferdinand "Bongbong" Marcos Jr. said. Fresh from his participation in the World Economic Forum (WEF) in Davos, Switzerland, the President asserted over the weekend that "many leaders and experts in government, in business, civil organization and in the academe" were impressed with how the country "is not only driving economic growth" but also initiating measures to help "mend the fissures that have fragmented the world of late and doing our part to avert an economic crisis." He attributed this to Filipinos being "a resilient hardworking people — uniting in adversity and looking out for each other in crisis." He also gave credit to his administration's economic team composed of Finance Secretary Benjamin Diokno, Trade and Industry Secretary Alfredo Pascual and Socioeconomic Planning Secretary Arsenio Balisacan. Marcos also recognized the close cooperation of Congress in advancing his administration's policies.
READ: Marcos: Military unrest dealt with
President Ferdinand Marcos Jr. has tamped down concerns about a spreading unrest among military officials, saying the problem has been dealt with. Marcos made the statement after former Defense chief Norberto Gonzales and former senator Francisco "Kit" Tatad said they were worried that the President's appointment of a new Defense chief and National Security Adviser (NSA) may have fueled unrest in the military establishment. Gonzales, who headed the Department of National Defense (DND) and later the NSA during the Arroyo administration, said the appointment of Carlito Galvez Jr. as Defense chief and Eduardo Año as NSA, may have silenced the grumbling in the military, but Marcos must look beyond issues of leadership to further stabilize the situation. The DND and the Armed Forces of the Philippines (AFP) must see to it that "even if there is some type of grumbling, their prevailing attitude is to normalize things as soon as possible," Gonzales said in a recent roundtable interview organized by The Manila Times.
READ: Comelec to create own cybersecurity unit
THE Commission on Elections (Comelec) will form its own cybersecurity department to protect voters and vital election-related information from cyberattacks. Comelec spokesman John Rex Laudiangco said over the weekend that the cybersecurity division, which will be under the poll body's Information Technology department, is part of ongoing structural reforms to enable the Comelec to keep pace with fast-changing technology. The Comelec and its election-technology provider Smartmatic Inc. have recently been cleared by the National Privacy Commission (NPC) of allegations that their servers had been breached, which affected vital information that could be used in identity fraud. The case stemmed from published reports that the Comelec and Smartmatic's system was hacked months before the 2022 elections.
Topping Business
READ: Growth goal hit – analysts
THE economy likely slowed in the fourth quarter of 2022 but full-year growth would still hit the upper end of the government's target, analysts polled by The Manila Times said. Fourth-quarter growth estimates from five economists resulted in a median forecast of 6.9 percent, down substantially from the 8.2-percent, 7.5-percent and 7.6-percent expansions recorded in the first, second and third quarters, respectively. The median for their full-year forecasts was 7.5 percent, at the top end of the government's 2022 gross domestic product (GDP) growth goal of 6.5 to 7.5-percent. Economic managers have said that 2022 growth would exceed target, particularly in the wake of a better-than-expected third quarter. Speaking in Davos, Switzerland last week, Finance Secretary Benjamin Diokno said the economy is expected to have grown by at least 7.5 percent last year. Growth of 7.5 percent or better would be the highest in over 45 years or since 1976's 8.8 percent based on World Bank data.
In Sports
READ: Rybakina stuns top seed Swiatek
There will not be a showdown between Iga Swiatek and Coco Gauff at the Australian Open. Instead, it will be the players who beat them Sunday — reigning Wimbledon champion Elena Rybakina and 2017 French Open champion Jelena Ostapenko — who face off for a semifinal berth. Rybakina eliminated No. 1-seeded Iga Swiatek 6-4, 6-4 in Rod Laver Arena, while Ostapenko got past No. 7 Gauff 7-5, 6-3 next door in Margaret Court Arena. Both the 22nd-seeded Rybakina, a 23-year-old who represents Kazakhstan, and the 17th-seeded Ostapenko, a 25-year-old from Latvia, earned spots in the quarterfinals at Melbourne Park for the first time. Swiatek is a three-time major champion, including titles at the French Open and US Open last season. She beat Gauff, an 18-year-old American, in the final at Roland Garros last June. Until Sunday, they both had looked fairly dominant in this event, winning every set they contested, with Swiatek dropping a total of just 15 games and Gauff just 19 through three matches.
READ: Depleted Celtics edge Raptors for 9th straight win
The Boston Celtics shook off the absence of injured Jayson Tatum and the early departures of Marcus Smart and Robert Williams to beat the Toronto Raptors 106-104 on Saturday (Sunday in Manila) and push their NBA winning streak to nine games. Jaylen Brown scored 27 points and Grant Williams added a career-high 25 for the Celtics, who improved their league-best record to 35-12. In Cleveland, Evan Mobley made sure the Cavaliers didn't make the same mistake twice, scoring a career-high 38 points in a 114-102 victory over a Milwaukee Bucks team missing two-time MVP Giannis Antetokounmpo and Khris Middleton. Elsewhere the lowly Charlotte Hornets claimed back-to-back games for just the second time this season as they eked out a 122-118 victory over the Hawks in Atlanta.
READ: Opinion/Editorial
The Times editorial talks about how Rappler's court victory sheds light on the truth. Read the full version on print or digital edition or listen to the Voice of the Times. Columnists featured on today's front page are Rigoberto Tiglao, Fr, Ranhilio Aquino and Francisco 'Kit' Tatad. Tiglao says Marcos is terribly misinformed about the Philippines' dispute with China; Aquino asks 'what if?' in reference to the country's judicial process; Tatad on George Cardinal Pell.
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This is Pete Llevares reporting.
Kung Hei Fat Choi!