Good day. Here are the stories for The Manila Times for Friday, August 11, 2023.
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READ: 'Decongested' K-10 curriculum launched
THE Department of Education (DepEd) has launched a new "decongested" curriculum that will focus on key competencies and foundational skills for learners from Kinder to Grade 10. Called the Matatag K-10, the revised basic education curriculum will focus on literacy and numeracy skills, reduce the number of learning competencies, balance cognitive demands, which will focus on higher-level thinking skills, clearer articulation of 21st century skills, intensify values education, strengthen peace education, and make it at par with international standards.
READ: All bay reclamation projects suspended
ALL 22 reclamation projects in Manila Bay were suspended and will be reviewed for their possible "environment and social impacts," Environment Secretary Maria Antonia YuloLoyzaga said Thursday. During a press briefing in Malacañang, Yulo-Loyzaga said the suspension took effect after it was ordered by President Ferdinand Marcos Jr. on Monday. The President had said all reclamation projects in Manila Bay except one were suspended due to problems in their implementation. Marcos did not specify which projects have been suspended, but he lamented that the sea along Roxas Boulevard could soon disappear.
READ: PH billionaires' combined wealth rises to $80B
THE combined net worth of the wealthiest Filipinos increased by 11 percent to $80 billion from last year's $72 billion, Forbes said on Wednesday. Despite the challenges brought by inflation and higher interest rates, the Philippines' "benchmark stock index rose 6.0 percent from a year ago when fortunes were last measured," Forbes said. Of the 50 richest in the Philippines, over half are wealthier this year, with the Sy siblings topping the list with a combined wealth of $14.4 billion. Teresita Sy Coson, Henry Sy Jr., and Hans, Herbert, and Harley's net worth rose by $1.8 billion. Property mogul Manny Villar strengthened his grip on the second spot as he added $1.9 billion to his net worth, which now stands at $9.7 billion "on the back of a resilient housing market." Forbes said Villar also included Premiere Island Power REIT, his energy company, in December 2022. Ports and casino magnate Enrique Razon stayed on third spot after earning the biggest dollar. His fortune increased by $2.5 billion to $8.1 billion.
READ: Economic team touts 4.3% 2nd quarter growth
ECONOMIC managers on Thursday boasted of a 4.3 percent growth in the economy for the second quarter of the year. In a joint statement, the economic team composed of the heads of the Department of Budget and Management, Department of Finance and the National Economic and Development Authority attributed the 4.3 percent gross domestic product to increases in tourism-related spending and commercial investments.
BUSINESS: Second-quarter growth 'disappointing' – analysts
However, analysts said the second quarter's lower-than-expected growth slowdown was a "disappointing" result that could lead to the full-year result coming in below target. At 4.3 percent, the gross domestic product growth for the period marked a steep fall from the first quarter's surprisingly strong 6.4 percent. It was also much lower than the 6.0-percent median in a Manila Times poll of economists. Year-to-date growth subsequently slowed to 5.3 percent, well below the government's 6.0- to 7.0-percent target for 2023. Economic managers, in a joint statement, said growth had been "tempered by high commodity prices, the lagged effects of interest rate hikes, the contraction in government spending and slower global economic growth." Despite the challenges — state spending, in particular, contracted by 7.1 percent during the quarter — they claimed that the full-year growth goal was "still achievable." I.N.G. Bank Manila senior economist Nicholas Antonio Mapa, however, described Thursday's growth report as "overall disappointing." The 4.3-percent expansion, he added, was the "slowest pace ... since 2011, with growth momentum slowing due to a challenging global landscape, price pressures, lackluster fiscal stimulus and elevated borrowing costs."
SPORTS: Gilas holds first practice with Clarkson
Over to sports, N.B.A. star Jordan Clarkson of the Utah Jazz had his first practice with the Philippine men's basketball team behind closed doors Wednesday night at the PhilSports Arena in Pasig City. The Utah Jazz shooting guard hit the ground running with the national squad, less than 48 hours after arriving in Manila. Clarkson, the team's naturalized player for the FIBA World Cup, landed at the Ninoy Aquino International Airport early Tuesday morning. Seven-foot-three big man Kai Sotto also joined the team's practice for the first time on Wednesday. He took part in the shooting drills despite nursing a back injury that he sustained several weeks ago during the N.B.A. Summer League in Las Vegas, Nevada.
READ: Opinion and editorial
Rigoberto Tiglao and Francisco Tatad are today's front page columnists, as they both continue their commentaries on the Chinese aggression at the Ayungin Shoal.
Today's editorial calls for a collective push to save the Amazon rainforests. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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