Good day. Here are the stories for The Manila Times for Tuesday, November 12, 2024.
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READ: Panel cites 4 OVP execs for contempt
THE House Committee on Good Government and Accountability on Monday cited in contempt four officials of the Office of the Vice President (OVP) over their continued failure to attend its hearings. They were Lemuel Ortonio, Gina Acosta, Sunshine Charry Fajarda and Edward Fajarda. The latter two are formerly from the Department of Education. The committee ruled to detain them in the premises of the House of Representatives until the committee sent its final report to the House plenary for deliberation — finding their excuses for non-attendance "unacceptable." Vice President Sara Duterte branded the panel's probe as "politically motivated."
READ: Tax reform law rolls out red carpet for investors
PRESIDENT Ferdinand Marcos Jr. on Monday signed into law Republic Act 12066, also known as Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (Create More) Law. The law amends RA 11534, or the original Create Act, which was crafted to help enterprises recover from the impact of the pandemic by lowering corporate income tax rates and making the country more appealing to businesses by rationalizing fiscal incentives.
READ: National Book Awards winners bared
THE National Book Development Board (NBDB) and the Manila Critics Circle (MCC) unveiled the winners of the prestigious 42nd National Book Awards (NBA) on Monday. The NBA honors the most outstanding works of literature, design, and publication in the Philippines, celebrating books that represent the country's rich cultural and literary heritage. This year, a total of 326 titles were submitted across 31 categories, with works published in four languages: English, Filipino, Bikol, and Ilokano. The 42nd iteration of the awards coincides with the Philippines' preparation to be the Guest of Honor at the 2025 Frankfurt Book Fair, marking a significant moment for the nation's literary scene on the global stage.
READ: Nika weakens after cutting across NLuzon
TYPHOON Nika has weakened after tearing across Northern Luzon Monday. By the time it leaves the Philippine Area of Responsibility (PAR) Tuesday morning, Nika could be downgraded into a severe storm, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said in its 5 p.m. bulletin Monday. The typhoon made landfall in Dilasag, Aurora, early Monday, moving west-northwestward at 25 kilometers per hour (kph), packing winds of 120kph gusting up to 200kph.
READ: Quiboloy hospitalized over irregular heart beat
DETAINED Kingdom of Jesus Christ leader Pastor Apollo Quiboloy was taken to the hospital Friday last week after complaining of chest pain, the Philippine National Police (PNP) confirmed on Monday. PNP information chief and spokesman BGen. Jean Fajardo said Quiboloy underwent a thorough medical examination at the Philippine Heart Center. Quiboloy was granted a medical furlough by the Pasig Regional Trial Court (RTC). Fajardo said the pastor had been experiencing chest discomfort since Thursday, Nov. 7, prompting the PNP General Hospital to conduct an electrocardiogram (ECG) on him. Results of the examination showed that Quiboloy was suffering from atrial fibrillation in rapid ventricular response or irregularity in heartbeat. Quiboloy was transferred to PHC on Nov. 8 and was allowed by the court to stay there until Nov. 16. Fajardo said the PNP complied with the order and would bring Quiboloy back to the PNP Custodial Center no later than 5 p.m. on Nov. 16. Quiboloy is facing a non-bailable qualified human trafficking case before a Pasig court.
READ: The Manila Times, media groups sign poll accord
THE Manila Times on Monday joined more than 50 other media groups and the academe in signing a memorandum of agreement (MoA) for "Eleksyon 2025." Times' President and COO Blanca Mercado was one of the signatories during the event held at the GMA-7 studio in Quezon City. Mercado lauded the initiative organized by the GMA network, with which The Manila Times signed a covenant in August against fake news.
BUSINESS: Net FDI down 14.5% in August
Headlining business, net direct investments (FDI) remained positive in August but were markedly lower compared to a year ago, the Bangko Sentral ng Pilipinas (BSP) reported on Monday. At $813 million, the net FDI inflow fell by 14.5 percent from the year-earlier $951 million. declined by 9.4 percent to $217 million, from $240 million, but investments in equity capital expanded by 83.6 percent to $66 million from $36 million. The equity capital placements mostly came from Japan (72 percent) and the United States (17 percent) and were mostly channeled to the manufacturing (63 percent), real estate (20 percent), and electricity, gas, steam and air-conditioning supply sectors (9 percent). Year to date, net FDI was 3.9 percent higher at $6.07 billion compared to the $5.84 billion seen in January-August 2023. Equity capital placements ballooned to $1.34 billion in the eight-month period from just $840 million a year ago. Reinvestments of earnings eased to $866 million from $910 million, while net investments in debt instruments fell to $3.86 billion from $4.09 billion. Equity capital placements for January-August originated mostly from the United Kingdom (45 percent), Japan (36 percent) and the United States (8.0 percent). The bulk, or 75 percent, went to the manufacturing sector, followed by real estate (11 percent) and wholesale and retail trade (4.0 percent).
SPORTS: Gilas to begin training camp in Laguna
WITH the PBA Governors' Cup Finals over last week, basketball fans now shift their attention to Gilas Pilipinas, which will start its training camp this Friday at the Inspire Sports Camp in Calamba, Laguna. Young big men Kai Sotto and AJ Edu are expected to arrive some time this week to join Gilas for its scheduled training camp in Laguna. The national squad will be hosting New Zealand on November 21, followed by Hong Kong on November 24 in the second window of the FIBA Asia Cup 2025 Qualifiers. Both games will be played at the Mall of Asia Arena in Pasay City. Sotto skipped last Sunday's rematch against his former team Yokohama B-Corsairs, which ended in an 87-63 beating after being placed in the B.League's concussion protocol due to an accidental collision. The collision happened last Saturday where the Alphas defeated the B-Corsairs, 80-72. Still, the 7-foot-3 Sotto is having a stellar Japan B.League season after averaging 12.1 points, 9.2 rebounds, 1.8 assists and 1.3 blocks in 13 games so far for the Koshigaya Alphas. The 6-foot-11 Edu is also back with a vengeance since sustaining a knee injury late last year while playing for the Toyama Grouses.
READ: Opinion and editorial
Antonio Contreras, Yen Makabenta, and Orlando Mercado are today's front page columnists. Contreras weighs in on the effects of the Trump victory to Filipino migrants, Makabenta talks about the "phantom public" and the "shibboleths" of democracy, while Mercado discusses the recent signing of a law protecting Philippine maritime boundaries.
Today's editorial welcomes the signing of the Enterprise-Based Education and Training (EBET) Framework Act or Republic Act 12063. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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