Good day. Here are the stories for The Manila Times for Monday, August 12, 2024.
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READ: 45 ODA projects 'problematic'
THE National Economic and Development Authority (NEDA) said 45 projects funded through foreign loans or grants were problematic, with 30 of these in the "critical stage." There are 77 Official Development Assistance (ODA) projects approved by the Investment Coordination Committee (ICC). The NEDA Monitoring and Evaluation Staff (MES) created the Alert Mechanism (AM) to identify and prioritize ODA-funded projects at risk of delays or cost overruns, classifying them as Potential or Actual Problem Projects for focused monitoring and support. An evaluation of these projects was conducted last year. The Enhanced AM specifically monitors ICC-approved ODA projects from the start of their loans or grants until their closing dates.
READ: DPWH to use recycled plastic in road projects
THE Department of Public Works and Highways (DPWH) has approved the use of plastic waste to extend the lifespan of asphalt pavement, and, at the same time, help address the alarming rise in plastic pollution, one of the major causes of flooding in the metropolis. Public Works Secretary Manuel Bonoan has directed all DPWH regional offices, district engineering offices, and Unified Project Management Office Clusters to use shredded plastic in road construction projects.
READ: Palace condemns China air harassment
MALACAÑANG on Sunday condemned the "unjustified, illegal and reckless" maneuvers of Chinese warplanes over Bajo de Masinloc Shoal last week. In a statement, the Presidential Communications Office (PCO) said President Ferdinand Marcos Jr. "strongly condemns the air incident involving the People's Liberation Army-Air Force (Plaaf) and the Philippine Air Force (PAF). The actions of the Plaaf aircraft "were unjustified, illegal and reckless, especially as the PAF aircraft was undertaking a routine maritime security operation in Philippine sovereign airspace," the PCO said.
READ: China plotting to meddle in polls – group
A SOCIAL media watchdog has warned that China could attempt to meddle in the 2025 elections through social media. Michael Aragon, Kapisanan ng Social Media Broadcasters ng Pilipinas Inc. chairman, cited the key findings of the Microsoft Threat Analysis Center (MTAC) which showed China is using fake social media accounts to poll voters on the divisive issues that could crop up during the elections. Aragon said that based on the report, China has also increased its use of artificial intelligence (AI)- generated content to further its goals around the world. It has also begun to use AI to make its operations more effective and efficient. He said that according to Microsoft, China is targeting elections in several countries using several strategies aside from AI.
READ: PH chalks up best Olympic showing in Paris
THE Philippines chalked up its best Olympic performance at the Paris Games, which ended on Sunday. Celebrating its 100th year of competing in the Olympics, the Philippines racked up two gold and two bronze medals to finish 35th among the 206 competing countries, the best showing among Southeast Asian nations. Gymnast Carlos Yulo's two-gold feat eclipsed the country's 1-2-1 gold-silver-bronze finish in Tokyo three years ago when weightlifter Hidilyn Diaz delivered the Philippines' first-ever Olympic gold. The 4-foot-11 Yulo topped the floor exercise event on August 3 to take his first gold, and then claimed his second the following night by ruling the vault competition. The 24-year-old became the third Filipino Olympic multi-medalist, after the swimmer Teofilo Yldefonso, who landed a bronze each in 1928 and 1932, and Diaz, who won a gold in Tokyo and a silver in Rio. Boxers Aira Villegas and Nesthy Petecio each won a bronze medal to complete the Philippine medal tally in Paris. Villegas placed third in the women's 50-kilogram division and Petecio in the 57-kg division. Petecio also joins the elite club of Filipino Olympians multi-medalists. Petecio, who became the first Filipino female boxer to get a medal at the Olympics in Tokyo, where she claimed silver, also became the first Filipino boxer to have won two Olympic medals.
SPORTS: Pagdanganan beams with pride after gallant 4th place finish
BIANCA Pagdanganan is one proud Filipino golfer after putting up a gallant stand at the Paris Olympics women's individual stroke where she finished joint fourth late Saturday night, August 10 (Manila time). It's the highest finish for any Philippine golfer in Olympic history. Ranked 125th in the world, Pagdanganan certainly played far better than her ranking as she carded 6-under 282. Pagdanganan, 26, saved her best for the last round where she fired seven birdies against four bogeys for a 4-under 68 which put her in contention for a playoff for bronze.
BUSINESS: Rate cut this week still likely
Over to business, monetary authorities could push through with a rate cut this Thursday, analysts said, despite inflation having breached target last month and better-than-expected second-quarter economic growth. Eleven of the 15 outlooks compiled by The Manila Times predicted a 25-basis point easing on August 15 while the rest favored cuts later in the year. Three did not rule out the possibility of an off cycle move before the next policy meeting on October 17. Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. had flagged an August rate cut as early as May, noting that risks to inflation — still likely to breach the 2.0- to 4.0-percent target in the second or third quarter — had moderated. Consumer price growth did top 4.0 percent in July, hitting what Remolona described as a "slightly worse than expected" 4.4 percent and prompting the central bank chief to say a rate cut was now "a little bit less likely." Remolona, who also said that an off-cycle cut was an option, told reporters that the BSP's policy-making Monetary Board could still ease this week should second-quarter gross domestic product (GDP) growth disappoint. At 6.3 percent, however, the April-June GDP year-on-year growth turned out to be higher than the market consensus, raising the prospect that the BSP's benchmark rate — currently at an over 17-year high of 6.5 percent — would be kept unchanged for a seventh straight meeting.
READ: Opinion and editorial
Rigoberto Tiglao, Fr. Ranhilio Aquino, and Francisco Tatad are today's front page columnists. Tiglao claims that Philippine mainstream media betrays democracy, Fr. Aquino says the demise of the "mother tongue-based, multi-language education" is a squandered opportunity, while Tatad says political dynasties are alive and well.
Today's editorial believes that Ukraine's counteroffensive in Russia could risk a nuclear response. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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