Los Angeles Edition
Economic team mulling another extension of EO on reduced tariffs — Diokno
PAGE 9
VOL. 12 NO. 23 PAGE
PH inflation hits 16-month 9 low at 4.7% in July
PAGE
August 11 - 17, 2023
A BALITA MEDIA PUBLICATION
PBBM to US solon: New responses needed amid volatile geopolitics President Ferdinand Marcos, Jr.
Gov’t to still shoulder bigger share in MUP pension 5 fund in proposed reforms — DOF exec
PAGE
MANILA (Mabuhay) — President Ferdinand "Bongbong" Marcos Jr. on Tuesday stressed the need to strengthen the Philippines' ties with the US and for "new responses and new positions" amid volatile geopolitics, particularly in the Asia Pacific. Marcos thus said during the courtesy call of US Senator Tammy Duckworth in Malacañang. “I think we must continue to promote and to hopefully make even stronger and deeper and especially with
the volatility that we are observing in geopolitics, especially in our region, but not limited to our region but all over the world, is something that we need to find new responses for and to take new positions for,” Marcos said. When he met with US President Joe Biden in May, Marcos cited the need to strengthen the partnership between the two countries in the post-pandemic economy and amid the tensions in the South China Sea and the Asia-Pacific and Indo-Pacific region.
“Beyond that, there are also issues, geopolitical issues that make the region... the Philippines is, possibly, arguably the most complicated geopolitical situation in the world right now,” Marcos had said. On Saturday, the Chinese Coast Guard (CCG) illegally used water cannons against Philippine Coast Guards vessels going to the Ayungin Shoal on a resupply mission to the BRP Sierra Madre. The PCG condemned CCG’s “dangerous maneuvers and illegal use of water
cannons” against their vessels escorting the indigenous boats chartered by the Armed Forces of the Philippines (AFP) to deliver food, water, fuel, and other supplies to military troops stationed on BRP Sierra Madre. It said that the CCG’s move not only disregarded the safety of the PCG crew and the supply boats, but also violated international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS), the 1972 Convention on the International Regula See PBBM Page 4
BUSINESS
US defense chief: MDT covers PH public, gov't ships, aircraft
Estate tax amnesty extension law seen to benefit 920K families PAGE 9
News
US Defense Secretary Lloyd Austin III condemned the China Coast Guard’s use of water cannons and other dangerous maneuvers, which put the safety of Philippine vessels and crew at risk.
Matea Mahal Smith Wins Miss Filipina International, Becomes First Winner of Filipino and Black Descent in Pageant’s 10-Year History
PAGE 5
ENTERTAINMENT
US Defense Secretary Lloyd J. Austin III (left) and Department of National Defense chief Carlito Galvez Jr. (right)
MANILA (Mabuhay) — United States Defense Secretary Lloyd Austin III reiterated that the Mutual Defense Treaty (MDT) between the US and the Philippines applies to Philippine public and government vessels and aircraft.
"Secretary Austin reaffirmed that the Mutual Defense Treaty extends to Philippine public vessels, aircraft, and armed forces – to include those of its Coast Guard – in
the Pacific, including in the South China Sea," the US Department of Defense (DOD) said in a statement Tuesday night (US time). Austin made the state-
ment after a phone call with Department of National Defense (DND) Secretary Gilberto Teodoro Jr. where they discussed recent events in the South China Sea, See US Page 4
Zubiri wants local production of arms
Joshua Garcia takes culinary lessons PAGE 10
7
PAGE
HEALTH
MANILA (Mabuhay) — Senate President Juan Miguel Zubiri on Monday said it's about time the Philippines develop and produce its own arms manufacturing company to avoid importation that depletes the country's
economy. Speaking before the hearing of the Senate Committee on Defense, Zubiri said "while we value our defense cooperation with other foreign allies, we cannot rely on them entirely," adding
that "overreliance on our allies leaves us on the back foot -- always waiting, and always dependent on what they will supply us with." "Nakakaawa po na kailangan pa natin halos manglimos mula sa ibang
bansa, para mabigyan ng armas at bala ang ating mga sundalo. 'Yan po ang nangyari noong Marawi (It's a pity that we have to almost beg from other countries, to give our soldiers weapons and ammunition. That's what
happened in Marawi), we are very familiar with that. At ayoko na pong maulit ang ganyang eksena (And I don't want that scene to happen again). Our brave men and women of the armed forces deserve more, and deserve See ZUBIRI Page 4
El Niño's impact on rice importer Vietnam 'worrisome' — Remolona FDA: No ongoing application for Zuranolone use in PH
EXCHANGE RATE
$1 = P56.2580 as of August 10, 2023
MANILA (Mabuhay) — Bangko Sentral ng Pilipinas Governor Eli Remolona said the government is monitoring potential risks to inflation such as the El Niño and its impact on rice importers, including Vietnam. Inflation eased for the sixth straight month to 4.7 percent in July. However, the price of rice has been rising and the commodity was identified as a potential source of inflation in the coming months, according to National Statistician Dennis Mapa. Traders cutting rice imports amid high prices abroad
In a briefing with the Department of Finance on Friday, Remolona cited India’s rice export ban but he said he is more concerned with any future actions by Vietnam. Vietnam is a significant source of imported rice for the Philippines. “We’re more worried about Vietnam. Vietnam is number one… El Niño is beginning to hit Vietnam. Medyo 'yun ang mas worrisome,” said the BSP governor. The government is also implementing several interventions to mitigate inflation like intensifying the proper utiliSee EL NIÑO Page 4
FILIPINAS AT THE SENATE. The Philippine women’s football team is honored at the Senate on Monday (Aug. 7, 2023) for their historic FIFA World Cup stint in New Zealand in late July, highlighted by a 1-0 win over the host nation. Senate President Juan Miguel Zubiri and his colleagues handed Resolution No. 80, which commends and congratulates the Filipinas for their phenomenal performance, the Philippines’ first-ever appearance at a FIFA World Cup, men’s and women’s.