Good day. Here are the stories for The Manila Times for Friday, January 12, 2024.
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READ: Recto in, Diokno out as Finance chief
HOUSE Deputy Speaker Ralph Recto has been named Finance secretary by President Ferdinand Marcos Jr. and will take his oath of office today, January 12, his wife, actress and former Batangas congresswoman Vilma Santos-Recto, said Thursday. Santos-Recto made the revelation in an online interview with showbiz columnist Jun Lalin. A Malacañang source confirmed to The Manila Times Recto's appointment as Finance chief. Recto is set to replace Benjamin Diokno, who was with the Marcos administration for nearly 19 months.
READ: US confirms fuel transfer from Hawaii to Subic
THE United States embassy in the Philippines on Thursday confirmed the transfer of "clean fuel" from the U.S. military facility in Pearl Harbor in Hawaii to a commercial storage facility in Subic Bay, Zambales. The embassy made the confirmation after Sen. Maria Imelda Josefa "Imee" Marcos expressed concern on the reported storage of 39 million gallons of fuel of the U.S. Navy in Subic. The Yosemite Trader, a U.S.-registered tanker, was shipping fuel from the US military base at Red Hill, Pearl Harbor to the Subic facility, said U.S. Embassy spokesman Kanishka Gangopadhyay.
READ: Court junks Garin plea to dismiss Dengvaxia cases
THE Sandiganbayan's Second Division rejected the appeal of former Health secretary Janette Garin to drop the charges against her related to the government's purchase of Dengvaxia vaccines. In a nine-page resolution promulgated on Wednesday, the court thumbed down Garin's motion to quash or dismiss the case filed by the Office of the Ombudsman. Garin had contended that the facts charged did not constitute an offense, and that her right to speedy disposition of cases was violated. The court ruled that the allegations in the charge sheets were sufficient. It also said that Garin and her co-accused were charged under two separate charge sheets, each pertaining to only one offense.
READ: Power law amendments sought amid Panay blackout
A LAWMAKER wants amendments to the Philippine Grid Code and the Electric Power Industry Reform Act (Epira) to prevent a repeat of the blackout that struck the island of Panay and neighboring provinces on January 2 to 5. Association of Philippine Electric Cooperatives party-list Rep. Sergio Dagooc said that among the changes must be the separation of the grid system operator and transmission system operator. It was found during a legislative hearing that the National Grid Corp. of the Philippines is acting both as a grid system operator and a transmission system operator, resulting in its hindered capability to control regulating reserve, contingency reserve, and demand control.
BUSINESS: Stock market seen recovering in 2024
In business, the stock market will likely stage a recovery this year on the back of improving sentiment, declining inflation and interest rates, and corporate income growth, First Metro Investment Corp. said on Thursday. F.M.I.C., the investment banking arm of the Metrobank Group, said the benchmark Philippine Stock Exchange index (PSEi) could hit 7,000–7,500 in 2024, supported by earnings per share growth of 11 percent.
SPORTS: Jacob Cortez leaves San Beda for UAAP
Over to sports, after helping lead San Beda to the N.C.A.A. Season 99 men's basketball championship last December, Jacob Cortez decided to leave the Red Lions' lair for a stint in the U.A.A.P. Cortez announced the development in a social media post on Thursday morning, January 11. The 5-foot-11 Cortez did not specify which U.A.A.P. school he is headed to but he has been reportedly wooed by the defending U.A.A.P. champs De La Salle Green Archers. Cortez joining La Salle makes a lot of sense considering that his father Mike played and won championships with the Taft-based university.
READ: Opinion and editorial
Rigoberto Tiglao and Francisco Tatad are today's front page columnists. Tiglao looks in a disconnect in the reality of the West Philippine Sea dispute, while Tatad asks if the government can destabilize itself.
Today's editorial believes the upcoming 2025 elections are a fresh start in the automating voting process. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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