Good day. Here are the stories for The Manila Times for Saturday, September 3, 2022.
THE Philippine peso closed at a new low of P56.77 to the US dollar on Friday and fell to as low as P56.90 during intraday trading at the Philippine Dealing System (PDS). The P56.77 was the lowest since the P56.45 was logged in 2004. The currency had closed at P56.42:$1 on Thursday. Trading at the PDS dropped to $936.95 million from $1.09 billion on Thursday.
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NATIONAL Security Adviser Clarita Carlos on Friday called for the rewriting of the Constitution, saying that a piecemeal revision of the Charter is just a waste of time. During a Senate hearing chaired by Sen. Robinhood "Robin" Padilla, Carlos believes a complete change of the Constitution is necessary because of structural change and behavioral change. Among the other issues raised during the hearing were public finance in a federal system, how federalism will suit Filipino culture and the death penalty under a federal system.
PRESIDENT Ferdinand "Bongbong" Marcos Jr. will "most likely" bring up the case of Mary Jane Veloso, the Filipino woman on death row in Indonesia, when he meets with Indonesian President Joko Widodo during his state visit to the country next week. Marcos leaves on Sunday for back-to-back trips. He will be in Indonesia on September 4 to 6 and in Singapore on September 6 to 7. Ambassador Ma. Teresita Daza, Department of Foreign Affairs (DFA) spokesman, said the department does not want to preempt discussions between the two presidents, but talks about an appeal for the Indonesian government to grant Veloso a pardon are not far-fetched.
AN agricultural group on Friday warned that the retail price of rice could go up to between P4 and P5 a kilo in October following the delay in the release of government subsidies to farmers. Jayson Cainglet, executive director of Samahang Industriya ng Agrikultura, said rice could retail between P43 and P44 per kilo from the current P38 to P39 a kilo.
PRESIDENT Ferdinand "Bongbong" Marcos Jr. will sign an executive order on the moratorium of payments of amortization fees and interests on loans of agrarian reform beneficiaries. He will sign this on September 13, which will coincide with his birthday, according to Agrarian Reform Secretary Conrado Estrella 3rd. During the hearing of the House Committee on Appropriations on the proposed 2023 budget of the Department of Agrarian Reform (DAR) on Friday, Estrella told the committee members that this is part of the commitments of Marcos during his first State of the Nation Address.
THE National Disaster Risk Reduction and Management Council (NDRRMC) on Friday said it is verifying a reported death due to the effect of Super Typhoon "Henry" to the country. While no details had been given, the NDRRMC said it is still processing and verifying the report. Earlier, the NDRRMC received a report that a farmer in Mayoyao, Ifugao died due to a landslide. The NDRRMC had recorded a landslide incident in the said area but is still verifying the details of the reported death. A house was totally damaged due to the landslide, according to the report.
Topping business, as the Philippines is gearing to be the next hyperscaler hub in the Asia-Pacific (APAC) region, many opportunities for investments and partnerships await the hyperscaler and data center firms who want to invest in the country, especially from companies in Hong Kong and China. During a webinar held by the Board of Investments, through its International Investments Promotions Service, and the Philippine Trade and Investment Center in Hong Kong on Aug. 24, 2022, Consul General in Hong Kong Raly Tejada highlighted the promising prospects and competitive advantage of the Philippines as the next investment destination for the hyperscaler and data center industry. He cited the famous world-class hyperscaler firms that are already in the Philippines as examples to further prove the potential position of the Philippines as the next hyperscaler center.
In sports, around 2,000 participants are expected to compete in the 45th Smart/MVP Sports Foundation National Taekwondo Champion- ships beginning today, September 3, at the Ayala Malls-Manila Bay in Pasay City. The organizing Philippine Taekwondo Association (PTA) announced that the participants will come from the different regions, including the BARMM, Cordillera and Caraga. Members of the Armed Forces of the Philippines, the Philippine National Police, the Philippine team, and student athletes from the UAAP and NCAA will also vie for medals in the country's biggest and most prestigious taekwondo tournament. The two-day event is supported by the Philippine Sports Commission, Philippine Olympic Committee and Milo.
Antonio Contreras, Yen Makabenta, and Danton Remoto are today's front page columnists. Contreras laments on the country's education system, Makabenta analyzes a statement of not being in a climate emergency, while Remoto gives his insight of what the country can learn from Malaysia's convictions of a former prime minister and his wife.
Today's editorial believes tourism planning should reflect market realities. Read the full version in the paper's opinion section or listen to the Voice of the Times.
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On behalf of The Manila Times, this is Aric John Sy Cua reporting. Have a safe weekend ahead.