Dennis Trillo joins wife Jennylyn Mercado s talent agency
After more than a decade with long-time manager Popoy Caritativo, Dennis Trillo has left the talent manager's fold and joined the talent agency that handles the career of his wife, actress Jennylyn Mercado. .....»»
Celebrity dads congratulate Diego Loyzaga ahead of Father s Day
Actor Markus Paterson and host-singer Billy Crawford congratulated Diego Loyzaga on Thursday after the latter posted a photo with a baby. .....»»
WATCH: Miss Universe 2022 R’Bonney Gabriel flaunts Filipino heritage at Independence Day Parade New York 2023
The 125th Philippine Independence Day celebrations started early this year, at the world’s de facto capital no less, New York City......»»
Sandara Park flattered, happy that Filipinos still remember her
Korean singer Sandara Park expressed her gratitude and joy that Filipinos still recognize her after all these years......»»
Gipit sa oras pero lalaban : Herlene Budol joins Miss Grand Philippines 2023
Filipino comedienne and beauty queen Herlene Budol revealed that she’s having a hard time balancing acting and competing in pageantry. .....»»
Live and let live : Nadine Lustre s boyfriend Christophe Bariou reflects on surviving cancer
Filipino-French entreprenuer Christophe Bariou, boyfriend of actress-singer Nadine Lustre, has opened up about his previous bout with cancer......»»
Settling down agad? : Wedding bells not ringing soon for Zanjoe Marudo, Ria Atayde
Kapamilya actor Zanjoe Marudo said that wedding bells will not ring anytime soon for him and girlfriend Ria Atayde. .....»»
MIF bill undergoing ‘finishing touches’ — Mark Villar
Senator Mark Villar said the Maharlika Investment Fund Bill is now undergoing "finishing touches" before it is sent to President Ferdinand Marcos Jr. for his signature. “Basically, what is happening now is just we’re just perfecting the bill so that we achieve maximum — that there are no minor errors. But again, it's just minor, if ever it’s just minor tweaks as they say it,” Villar said in a television interview over the weekend. The final version of the measure will be out soon, according to Villar, who said the bill is now with the Senate secretariat. “We should expect that very soon it will be transmitted,” he added. Villar said it is “clearly” stated in the law that pension funds from the Social Security System and Government Service Insurance System and funds from the Overseas Workers Welfare Administration, Philippine Veterans Affairs Office and Pag-IBIG Fund are “absolutely prohibited” from being invested in the Maharlika investment scheme. The senator stressed that the Implementing Rules and Regulations will clarify the type of investments that are allowed in the Maharlika Fund. “It has to follow. The IRR cannot contradict what is provided in the law, that’s clear,” he said. Villar emphasized the need to provide a “vehicle” to attract more investments into the country as it continues to recover from the impact of the Covid-19 pandemic. “Many foreign groups are interested in investing in the Philippines and they’re looking for a vehicle to invest in the Philippines, so we believe that Maharlika can provide that vehicle,” he said. “But at the same time, the Maharlika can also invest in our local infrastructure projects," he added. The post MIF bill undergoing ‘finishing touches’ — Mark Villar appeared first on Daily Tribune......»»
Kathryn Bernardo all set to conquer big screen once more
Box office queen Kathryn Bernardo teases fans by sharing a photo with internationally acclaimed actress Dolly De Leon who will be her lead co-star in the upcoming Star Cinema movie "A Very Good Girl". "A Very Good Girl" will mark Bernardo's comeback to the big screen after her blockbuster film "Hello, Love, Goodbye" with Kapuso actor Alden Richards in 2019. This project will also be the Queen of Hearts' first shot at doing a different genre which is a dark comedy. Further details regarding the movie are yet to be revealed. The post Kathryn Bernardo all set to conquer big screen once more appeared first on Daily Tribune......»»
South Korea summons China envoy over ‘nonsensical’ comments
South Korea summoned Beijing's ambassador Friday over his comment that Seoul was "wrong to bet against China". China's ambassador to South Korea, Xing Haiming, on Thursday criticized Seoul's recent diplomatic overtures to long-time ally Washington. "With the United States asserting full pressure on China, some are betting that the US will prevail and China will lose. But it is a clearly the wrong bet," Xing told media at a meeting with South Korean opposition leader Lee Jae-myung. "What I can say for sure is those who bet against China will regret in the future," he said, adding Beijing sceptics were "not understanding the flow of history". In response, South Korea's First Vice Foreign Minister Chang Ho-jin warned the Chinese diplomat that criticizing his host country's policy with "inaccurate facts... is intolerable". He said the comments amounted to an "act of internal interference", the ministry said in a statement. Beijing's envoy was summoned for a meeting, during which the vice minister "expressed strong regret on out of diplomatic protocol, nonsensical and provocative behavior", the statement said. In April, South Korean President Yoon Suk Yeol said that tensions over Taiwan were due to "attempts to change the status quo by force". The comment resulted in a diplomatic tit-for-tat, with Beijing lodging a protest, which Seoul condemned as a "serious diplomatic discourtesy". The post South Korea summons China envoy over 'nonsensical' comments appeared first on Daily Tribune......»»
BSP to absorb P360B excess liquidity
The Bangko Sentral ng Pilipinas will absorb P360 billion in excess liquidity from its recent cut in the reserve requirement ratio, British bank HSBC said on Friday. In an emailed commentary, HSBC economist Aris Dacanay clarified that the RRR cut by 250 basis points (bps) for major banks would cause "much extra liquidity." He explained that BSP's relief measure would also end on 30 June, coinciding with the reserves ratio reduction. "We estimate the net effect to be P87.7 billion. This will be a net injection of liquidity in the system, but a limited one, given that it represents just 6.3 percent of the excess liquidity currently being absorbed by the BSP," Dacanay said. He explained that the RRR cut "will be slightly larger than the relief provided by the pandemic-era measures on reserves." However, he estimated that the net effect on liquidity would be "positive but limited." According to Dacanay, the market had anticipated a smaller reduction in the RRR of 200 bps, aligning with the expiration of the relief measure that permitted banks to use loans extended to micro, small, and medium enterprises and eligible large enterprises to meet the reserve requirement. As of April, banks had used P302.4 billion in loans as an alternative compliance method for the reserve requirement. Among this total, P236.9 billion were loans to MSMEs, while P65.5 billion were borrowed by large independent enterprises not affiliated with conglomerates. However, Dacanay pointed out that the BSP's securities facility, which now includes additional tenors and the introduction of 56-day BSP bills on 30 June, enables the central bank to effectively absorb the excess money supply. This suggests that the central bank is adequately prepared to address surplus liquidity. "As communicated by the BSP, we don't think the RRR cut will affect monetary policy and the central bank's battle against inflation," Dacanay said. "On the same day as the RRR cut, the BSP will be issuing its new tool to absorb liquidity in the system -- the 56-day BSP bill. The liquidity injected by the RRR cut will likely be absorbed by this new tool on that same day," he added. He added that "the timing (of the RRR cut) is important since without the relief measures expiring, the RRR cut may be interpreted as a dovish signal by the BSP at time when inflation is high." The post BSP to absorb P360B excess liquidity appeared first on Daily Tribune......»»
DENR taps private audit firm to review MGB, EMB processes
The Department of Environment and Natural Resources announced Friday that it has partnered with Isla Lipana & Co./PwC Philippines to review the systems and processes in the two line bureaus of the DENR: the Mines and Geosciences Bureau and the Environmental Management Bureau. The partnership was formalized through the signing of a memorandum of understanding between the DENR, represented by Secretary Antonia Loyzaga, and Alex Cabrera, chairman emeritus of Isla Lipana & Co., at the DENR Central Office in Quezon City. PwC Philippines is a professional services firm engaged in delivering audit and assurance, and tax and advisory services within and outside the Philippines. Loyzaga said the recent DENR Field Operations Management Conference has shown areas in the agency where there are gaps in their processes and have the potential for synergy. “This will be an opportunity to actually address those gaps and to build value on the efforts done by everyone in the department,” Loyzaga said. Loyzaga added that the DENR recognized the need for organizational transformation through governance and risk management as it evolves and adapts to the changing environment and social landscape. This involves critically evaluating the DENR’s existing processes and compliance, and identifying opportunities for improvement. In support of the DENR’s transformation initiatives, the project with PwC aims to review the existing policies of the MGB and EMB to identify the major gaps in their processes and functions. MGB is mandated to formulate and implement policies and programs pertaining to geology and the exploration, development, conservation, and utilization of mineral resources; while EMB is the primary line bureau responsible for the formulation, supervision, and implementation of policies and programs in relation to the prevention and control of pollution, as well as waste management, and environmental impact assessments. The project shall conduct a comprehensive assessment using appropriate governance, risk management, and compliance tools to review and assess risks in the existing systems and processes of MGB and EMB. It shall also develop a five-year transformation roadmap with corresponding action plans and recommendations for improvement to strengthen the DENR towards better organizational performance. Through the MoU, PwC shall provide technical partnership and assistance to deliver the DENR’s desired outcomes of strengthening the agency and its bureaus, particularly the existing systems and processes in the MGB and EMB. At the end of the project, PwC shall submit a Completion Report with the results of organizational/process diagnosis and assessment; observations and areas for improvement, and an indicative five-year transformation roadmap. Cabrera said that PwC Philippines, as a company that believes in integrity and sustainability, is impressed with the DENR’s plan, which focuses not only on top-level strategic initiatives but also includes sampling a few critical departments referred to as “the center of gravity.” “If we are able to solve these important issues at the most difficult spots of the agency, then it will be no problem solving the rest of the issues,” Cabrera said. Also present during the MoU signing were DENR Undersecretary for Organizational Transformation and Human Resources Augusto dela Peña, Chief of Staff and Supervising Undersecretary for Strategic Communications Marilou Erni, and DENR Legal Affairs Services Director Norlito Eneran; and PwC representatives Geraldine Apostol, Alvin Dave Pusing and Aaron Manalete. Loyzaga had previously said that under her leadership, there will be a comprehensive review of the DENR’s people, processes, products, and services to ensure that the agency will “respond to all stakeholder needs in relation to the directives of the President” and the preservation of the environment and the country’s natural resources. The post DENR taps private audit firm to review MGB, EMB processes appeared first on Daily Tribune......»»
Phl maintains projected growth rates
Philippine economic managers on Friday maintained the Philippines' growth assumptions at 6.0 to 7.0 percent for 2023 and 6.5 to 8.0 percent for 2024 to 2028, considering both domestic and external risks. In a press briefing, the Development Budget Coordination Committee said the risk includes natural disasters, global trade tensions and value chain disruptions. "Our projections already consider the potential impact of El Niño and other factors that could pose challenges to economic growth," the economic managers said. "We believe that the Philippines can withstand these risks and attain upper-middle-income status in the next two years," they added. To achieve the country's growth, DBCC said the government remains committed to implementing timely and adequate importation, preemptive measures to address El Niño, biosecurity strengthening, agricultural productivity enhancement, and advocating for legislative reforms. DBCC also noted that the countries' 6.4 percent GDP growth in the first quarter grew faster than other emerging economies such as Indonesia, China and Vietnam. Despite the fast growth in the first quarter, the DBCC said it has lowered growth projections for goods exports and imports growth for this year to 1 percent and 2 percent from 3 percent and 4 percent. The economic managers lowered their expectations due to "the trend in near-term global demand outlook and trade prospects." Global trade is expected to slow down this year amid elevated inflation and as China's economic rebound sputters. The economic managers expect inflation to return to the target range of 2 to 4 percent in 2024. "The administration, through the Inter-Agency Committee on Inflation and Market Outlook, provides proactive measures to address the primary drivers of inflation," economic managers said. "This, together with appropriate monetary policy actions of the BSP, will help ensure a return to the inflation target over the policy horizon," they added. Aside from inflation, the DBCC also revised its assumptions for the peso-dollar exchange rate, which is now seen to range from 54 to 57 "and is expected to be broadly stable" in this range until 2028. Meanwhile, the DBCC also announced that the national government is preparing the fiscal year 2024 proposed national budget, amounting to P5.768 trillion. "The proposed national budget will continue to prioritize expenditure items that promote social and economic transformation through infrastructure development, food security, digital transformation, and human capital development," the DBCC said. "Acknowledging the competing demands of government programs against a backdrop of limited resources, we shall ensure that the FY 2024 National Expenditure Program will only include implementation-ready agency proposals," it added. The post Phl maintains projected growth rates appeared first on Daily Tribune......»»
Peso closes at $1 = P56.05
The Philippine peso strengthened slightly against the US dollar on Friday after the country's economic managers expects the peso-dollar exchange rate to be "broadly stable" between the P54-P57 range until 2028. Data from the Bankers Association of the Philippines’ website showed that the local currency closed at P56.05 versus the dollar on Friday, inching up by 6 centavos from Thursday' P56.11 finish. The local unit opened Friday's session at P55.999 per dollar. Its weakest showing was at P56.06, while its intraday best was at P55.9 against the greenback. Dollars traded rose to $979.2 million on Friday from the $957 million seen on Thursday. The post Peso closes at $1 = P56.05 appeared first on Daily Tribune......»»
Trump indicted in classified documents probe
Donald Trump said Thursday he has been indicted over his handling of classified documents after leaving office, the US ex-president's most serious legal threat yet as he pursues a second White House term. "The corrupt Biden Administration has informed my attorneys that I have been Indicted, seemingly over the Boxes Hoax," Trump wrote on his Truth Social platform as he broke the bombshell news of a historic moment for the United States: the first time a sitting or former commander-in-chief has faced federal charges. There was no immediate confirmation from the Justice Department. Trump attorney Jim Trusty told CNN that his client has been indicted on seven charges including the willful retention of documents in violation of the Espionage Act, making false statements, obstruction of justice and a count of conspiracy. Though the precise details of the charges were not immediately clear, people familiar with the matter told The New York Times the conspiracy charge was related to obstruction of justice. In his post, Trump, who is running for president again, said he has been summoned to a federal courthouse in Miami next Tuesday -- the day before his 77th birthday. His announcement came a day after US media said federal prosecutors had informed his lawyers that he is the target of the probe into his handling of classified documents. Trump was already the first former or sitting president to be charged with a crime -- in his case over election-eve hush money payments to a porn star who said she had an affair with him. That indictment was handed down by Manhattan's district attorney in March. In a statement after his initial online posts, the Trump campaign lashed out at what it called an "unprecedented abuse of power," and called for the indictment to be thrown out. 'Dark day' In a defiant video released after he shared the news, Trump repeatedly declared his innocence and framed the indictment as a form of election interference by a Justice Department "weaponized" by the Biden administration. "They come after me because now we're leading in the polls again by a lot against Biden," Trump said in the clip. "Our country is going to hell and they come after Donald Trump... We can't let this continue." Fellow Republicans swiftly stood by him, including Speaker of the House of Representatives Kevin McCarthy, who has had a rollercoaster relationship with Trump. "Today is indeed a dark day for the United States of America. It is unconscionable for a President to indict the leading candidate opposing him," McCarthy said in a statement. "I, and every American who believes in the rule of law, stand with President Trump." Florida Governor Ron DeSantis, a rival for the GOP presidential nomination, echoed Trump's claims of a "weaponized" DOJ, adding on Twitter that he would "excise political bias" if elected president. The Twitter account of Republicans on the House Judiciary Committee posted a repeated Trump slogan: "WITCH HUNT." Special counsel Jack Smith, named by US Attorney General Merrick Garland, has been looking into a cache of classified documents that Trump had stored at his Mar-a-Lago residence in Florida after leaving the White House. The FBI carted away some 11,000 papers after serving a search warrant on Mar-a-Lago in August, and obstruction-of-justice charges could be a result of his resisting efforts to recover the trove. Trump eventually turned over 15 boxes containing almost 200 classified documents to the National Archives in January 2022 but was subpoenaed for any outstanding records in his possession. When asked about the charges Thursday night, Smith's spokesman Peter Carr told AFP: "We are declining to comment." The White House said it learned of the indictment from media coverage and a spokesperson declined to comment on the news, noting that the DOJ "conducts its criminal investigations independently," CNN reported. Mounting legal woes Some Democratic lawmakers spoke out following Thursday's revelation. Trump's indictment "is another affirmation of the rule of law," House Democrat Adam Schiff said. "For four years, he acted like he was above the law," he added. "But he should be treated like any other lawbreaker. And today, he has been." Trump has repeatedly denied wrongdoing in the documents case, telling a Fox News town hall event on June 1 that "everything I did was right." But he has openly acknowledged taking and storing the documents, undermining his lawyers' suggestion that he took the stash inadvertently in the confusion of a chaotic departure. "This evidence just adds to the mound of stuff that already exists, and no one piece is the 'be all and end all,' but when you put them all together, the case is so strong," former Watergate prosecutor Jill Wine-Banks told MSNBC. "You cannot imagine his getting away with this." The latest indictment comes with Trump facing numerous other probes as he bids to be the Republican nominee to challenge Joe Biden for the presidency in 2024. Smith is also looking at whether Trump should face charges over the 2021 US Capitol riot, and Georgia prosecutors are investigating whether Trump illegally attempted to overturn the 2020 presidential election outcome there. Trump has already been charged with dozens of financial crimes as part of the alleged hush money scheme to silence the porn star, and is due to go on trial next March, in the middle of primary election season. The post Trump indicted in classified documents probe appeared first on Daily Tribune......»»
Maris Racal returns from social media break
Maris Racal stuns with the headshot images that she shared on Instagram after taking a social media break for some time. "Hi what did i miss?", she wrote. The singer-actress also added, "Just wanna remind you that it’s so important for our mental health to take breaks and get off the phone... Have meaningful pauses, be present, and love yourself." Racal recently flew to Italy to represent the movie "Where is the Lie" in the 2023 Udine Far East Film Festival. The post Maris Racal returns from social media break appeared first on Daily Tribune......»»
Jobless, underemployment rates drop in April as economy churns
In a briefing on Friday, the Philippine Statistics Authority reported the results of a nationwide survey of 44,017 households showed there were 2.26 million Filipinos who were either jobless or out of business in April, lower than 2.42 million unemployed persons tallied in March......»»
Globe to ready GCash for IPO by year-end
I’ve personally advocated for GLO to spin-off GCash for years now, but that’s not some kind of original hot take......»»
BSP cut banks’ reserve ratio by 250 basis points
Some context here on the RRR is useful......»»