Good day. Here are the top stories of The Manila Times on Saturday, Feb. 11, 2023.
READ: Japan grants PH P246-B aid package
Japan has granted the Philippines a record 600 billion Japanese yen or over P246 billion in official development assistance (ODA) to help the Marcos administration carry out its economic development agenda. It is the biggest ODA package the Philippines has received from Japan. The Japanese embassy in Manila said in a statement Friday that the ODA was announced by Japan's Prime Minister Kishida Fumio after his bilateral summit with President Ferdinand Marcos Jr. On Friday, Marcos also met with Japan International Cooperation Agency (JICA) President Akihiko Tanaka, who expressed the agency's all-out support for the Philippines' development agenda. Tanaka also hailed the signing of loan agreements with the Philippines to provide Japan's ODA loans for the North-South Commuter Railway Project (Malolos-Tutuban) II and the North-South Commuter Railway Extension Project II. JICA is the world's biggest bilateral aid agency, with a presence in over 150 countries and regions. It is also a top Philippine partner in socio-economic development. Marcos and Kishida agreed to implement ODA projects and explore public-private partnerships in infrastructure development such as railways, bridges and roads, through the High-Level Joint Committee on Infrastructure Development and Economic Cooperation.
READ: Japanese aid to boost Filipino MSMEs
THE Japan-Association of Southeast Asian Nations Integration Fund (JAIF) is giving a $681,339 grant to the Asean Mentorship for Entrepreneurs Network (AMEN) to help small and medium enterprises in the Philippines. The grant was announced by Go Negosyo founder Jose Ma. "Joey" Concepcion 3rd on Friday. Concepcion and Department of Trade and Industry (DTI) Secretary Alfredo Pascual thanked the JAIF for supporting the development of Filipino micro, small, and medium enterprises (MSMEs). Concepcion said the signing of the grant and presentation of the Certificate of Gratitude to Japan's Ministry of Foreign Affairs were witnessed by President Ferdinand "Bongbong" Marcos Jr. at the Palace Hotel in Tokyo.
READ: 2 Filipinos confirmed dead in Turkey quake
THE Philippine embassy in Ankara, Turkey, on Friday confirmed that the two Filipinos died in the magnitude 7.8 earthquake that devastated Turkey and Syria last February 6. The Philippine embassy said both were first reported missing in Antakya in Hatay province, one of the hardest-hit cities by the quake. The tremor has killed close to 23,000 people in the two countries. he embassy also confirmed reports that a Filipino earlier said to be missing in Antakya was found alive. The embassy has already evacuated more than 10 Filipino families who are now on their way to Ankara where they will be temporarily sheltered. President Ferdinand "Bongbong" Marcos Jr. on Friday expressed "deep regret" on the death of the two Filipinos who died in Monday's earthquake. The Philippines has deployed an 85-man team to assist in search, rescue and relief operations in Turkey. The contingent arrived Thursday in Istanbul and was transported to the city of Adiyaman. The team is expected to stay in Adiyaman for at least two weeks.
READ: Seized smuggled onions, other agriculture products reach P1.5B
P1.5 BILLION worth of smuggled onions and other agricultural products were confiscated beginning in October 2022, an official of the Department of Agriculture (DA) revealed on Friday. During a regular briefing, Agriculture Assistant Secretary for Inspectorate and Enforcement James Layug also said 27 criminal cases have been filed against seven consignees and four brokers as part of the government's stepped-up campaign against the smuggling of agricultural goods. Layug said 25 cases were for violation of the Anti-Agricultural Smuggling Act (Republic Act 10845) and two cases for violation of the "Food Safety Act" (RA 10611). Layug said he supports the amendments to the Anti-Agricultural Smuggling Law covering hoarding, profiteering and cartel under the provisions of economic sabotage. Layug also backed the directive of President Ferdinand "Bongbong" Marcos Jr. to digitalize transactions at the DA.
READ: US: Chinese balloons spying on 40 countries
The China balloon shot down by the US was equipped to detect and collect intelligence signals as part of a huge, military-linked aerial surveillance program that targeted more than 40 countries, the Biden administration declared Thursday, citing imagery from American U-2 spy planes. A fleet of balloons operates under the direction of the People's Liberation Army and is used specifically for spying, outfitted with high-tech equipment designed to gather sensitive information from targets across the globe, the US said. Similar balloons have sailed over five continents, according to the administration. A statement from a senior State Department official offered the most detail to date linking China's military to the balloon that was shot down by the US last weekend over the Atlantic Ocean. The public details outlining the program's scope and capabilities were meant to refute China's persistent denials that the balloon was used for spying, including a claim Thursday that US accusations about the balloon amount to "information warfare."
Topping Business
READ: Net FDI down 43.6% in Nov
FOREIGN direct investments (FDI) slumped in November last year, the Bangko Sentral ng Pilipinas (BSP) reported on Friday, with net inflows contracting by 43.6 percent to $793 million from $1.4 billion a year earlier. Year-to-date net FDI subsequently came in at $8.4 billion, down 13.4 percent compared to the $9.7 billion seen in January-November 2021. The declines in both the November and 11-month tallies were attributed to lower net investments in debt and earnings reinvestments, which overcame a rise in net equity capital placements. In November alone, net investments in debt instruments plummeted by 55.2 percent to $540 million from $1.2 billion a year earlier. The year-to-date fall was 17.7 percent to $5.9 billion from $7.17 billion. Reinvestments of earnings, meanwhile, fell by 12.6 percent on a monthly basis and 8.0 percent year to date to $73 million from $84 million and $1.08 billion from $1.18 billion, respectively. On the other hand, net equity other than reinvestments surged by 51.8 percent to $180 million from $118 million in November, a result the BSP said marked the third month in a row of year-on-year gains.
In Sports
READ: Bucks win 9th straight, rip LeBron-less Lakers
Giannis Antetokounmpo had 38 points and 10 rebounds as the Milwaukee Bucks rallied in the second half for their ninth consecutive victory, 115-106, over the Los Angeles Lakers without LeBron James on Thursday (Friday in Manila). James sat out to rest his sore left ankle and foot two nights after he passed Kareem Abdul-Jabbar to become the NBA's career scoring leader. Khris Middleton scored 22 points and Jrue Holiday added 18 for the Bucks, who matched their longest winning streak since their 9-0 start to this season. Milwaukee is primed for the stretch run to the postseason after adding veteran Jae Crowder to its talented core at the trade deadline. Dennis Schröder had 25 points and 12 assists in a standout performance at point guard for the Lakers, who had only four reserves after their flurry of trades in the past two days.
READ: Mahomes wins 2nd NFL MVP award
Patrick Mahomes dominated the voting for the AP NFL Most Valuable Player award. Now, he'll try to break the MVP curse. Mahomes, who also won in 2018, easily outdistanced Jalen Hurts, receiving 48 of 50 first-place votes from a nationwide panel of media members who regularly cover the league. He earned 490 points to 193 for Hurts, who got one first-place vote, 26 seconds, 11 thirds and 10 fourths. Mahomes and the Kansas City Chiefs (16-3) face Hurts and the Philadelphia Eagles (16-3) in the Super Bowl on Sunday (Monday in Manila). The last nine MVPs to play in the Super Bowl that season are 0-9. Kurt Warner was the last to win both the MVP award and Super Bowl following the 1999 season.
READ: Opinion/Editorial
Today's Times editorial is on House Bill 6718 or the "Freelance Workers Protection Act" which the House of Representatives passed for the second time. It calls on the Senate to redeem itself by acting on a similar measure after letting it fall by the wayside in the last Congress. Read the full version on print or digital or listen to the Voice of the Times. The featured columnists on the front page are Antonio Contreras, Yen Makabenta and Danton Remoto. Contreras writes about regulating and protecting digital labor; Makabenta on watershed moments in Philippine history; and Remoto on Manila airport being the "worst in the world."
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This is Kim Salinas reporting.