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PRESIDENT Rodrigo Duterte has been asked by a lawmaker at the House of Representatives to certify as urgent a measure providing a P420-billion economic stimulus. Marikina City 2nd District Rep. Stella Luz Quimbo, author of the proposed “Bayanihan to Arise as One Act” (Bayanihan 3), said in a press conference on Wednesday that the economy has “turned for the worse” and there was need for Congress and the Executive “to work together” to recover. Quimbo hopes that the Executive Department would consider recent events that prompted the need for Bayanihan 3, which are the 9.5 percent contraction of the economy, the worst since World War 2; and the rising prices of basic commodities. Quimbo stressed the need for the government to infuse a substantial amount into the economy to prevent what she called a “stagflation” or a combination of stagnant economy and high inflation, which was recorded at 4.2 percent in January. Quimbo, an economist, said that the 9.5 percent contraction translates ...

THE Bureau of Customs (BoC) has condemned more than P45 million worth of used and brand new luxury vehicles which the bureau had seized in favor of the government for violation of customs and internal revenue laws. The destruction of the 10 supercars was done at the Port of Manila during the bureau’s 119th founding anniversary celebration and in the presence of Finance Secretary Secretary Carlos Dominguez 3rd, Undersecretary Antonette Tionko and Commissioner Rey Leonardo Guerrero Destroyed were a used Ford F-150 Super SVT Can Raptor Pick Up, a brand new 2015 Toyota Landcruiser, a 2007 Bentley Continental GT, a 2012 Land Rover 2012, a Range Rover Evoque 2019, a Porsche 911, a Mercedes Benz, and an Alfa Romeo. Also condemned were a brand new Hyundai Starex and a used Renault black van. The vehicles arrived on separate occasions at the Port of Manila, Manila International Container Port and at the Port of Cebu. They came from the US, Belgium, Japan, and Korea. The destruction of the v...

MALACAÑANG is calling for a food security summit with the local government units (LGUs) and the private sector’s industry players and stakeholders amid the current challenges faced by the agriculture sector. Palace spokesman Harry Roque Jr. said the summit was aimed at addressing current challenges affecting food security, presenting plans and programs that were geared toward solving the problem, and bringing together support to pave the way for a profitable agriculture and fishery sector. “The Executive branch is calling for a Food Security Summit, with the Department of Agriculture (DA) as lead agency, to continue to boost and develop the agri-fishery sector through the cooperation, coordination and collaboration of the local government units (LGUs) and the private sector’s industry players and stakeholders,” Roque said in a statement. “The Food Security Summit likewise aims to discuss mitigation measures on current issues affecting the agriculture sector such as the upsurge in th...

DEFENSE chiefs from the Philippines and the United States have reaffirmed their commitment (MDT) to the Mutual Defense Treaty, the Visiting Forces Agreement (VFA) and increasing the military interoperability of the two countries. Defense Secretary Delfin Lorenzana spoke by phone with his counterpart Lloyd Austin 3rd on Wednesday (Manila time) for the first time since his appointment by US President Joe Biden and confirmation by the US Senate. The Department of National Defense (DND) said that the introductory phone call between Lorenzana and Austin involved discussions on the two countries’ bilateral defense relations. It noted that Austin reaffirmed commitment to Manila and Washington’s alliance through the MDT and the VFA, which was supposed to be abrogated in 2020 but which the government suspended because of the coronavirus disease 2019 (Covid-19) pandemic. “Both sides committed to sustain dialogues amidst the pandemic and strengthen cooperation between the two defense establis...

THE number of coronavirus disease 2019 (Covid-19) cases in Cebu City has continued to rise, and if not prevented, would push its hospital capacity to critical levels in two weeks, according to the academic group that tracks the country’s virus data. Octa Research cited that from February 1 to 7, Cebu City has averaged 123 new cases of Covid-19 per day, 30 percent higher than the 94 cases recorded in the previous period of January 25 to 31. Its positivity rate has increased to 10 percent and its attack rate now at 11.11 per 100,000 population. Aside from Cebu City, Mandaue City and Lapu Lapu City are also experiencing an increasing trend in the number of Covid-19 cases, with positivity rates above 10 percent. The group has also warned that the hospital occupancy in Cebu province may reach up to 70 percent in two weeks if current transmission rate of R0 (R-naught) of 1.4 and a hospitalization rate of 25 to 35 percent hold. Octa said that the increase in the number of cases in the cit...

THE Philippines has signed an agreement for 30 million doses of another brand of vaccine, Presidential Adviser for Entrepreneurship Jose Maria Concepcion 3rd said on Wednesday. In a forum attended by 500 private companies, Concepcion said Novavax has completed phase 3 of its clinical trials in the United Kingdom. Novavax has an efficacy rate of 89.3 percent and is officially distributed by Faberco Life Sciences Inc., which has made “an equitable and great offer” to the Philippines, said Concepcion, also the founder of “Go Negosyo”. The vaccine is manufactured by the Serum Institute of India. Concepcion said Faberco and United Laboratories (Unilab) could procure the vaccines for the private firms. “I am encouraging the private sector to look at this developing initiative.” Concepcion said. Go Negosyo has secured 20 million doses of the AZD1222 for both the private sector and local government units through a tripartite deal with AstraZeneca, the manufacturer of the vaccine, and the...

SEOUL: North Korea has stolen more than $300 million worth of cryptocurrencies through cyberattacks in recent months to support its banned nuclear and ballistic missile programs, a confidential UN report said. Compiled by a panel of experts monitoring sanctions on Pyongyang, the report said the country’s “total theft of virtual assets from 2019 to November 2020 is valued at approximately $316.4 million,” citing a UN member state. Financial institutions and exchanges were hacked to generate revenue for Pyongyang’s nuclear and missile development, said the report, which was seen by Agence France-Presse. The vast majority of the proceeds came from two thefts late last year. The North is known to operate an army of thousands of well-trained hackers who have attacked firms, institutions and researchers in South Korea and elsewhere. It has also been accused of exploiting its cyber capabilities for financial gain. The North is under multiple sets of international sanctions over its ban...