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Wealth fund gets nod at WEF PBBM previews PH investment pool before forum delegates in Davos By Maricel V. Cruz and Vince Lopez
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HILIPPINE officials on Wednesday said participants at the World Economic Forum (WEF) reacted positively to the proposed sovereign wealth fund that President Ferdinand Marcos Jr. presented in Davos, Switzerland. VOL. XXXVI • NO. 337• 3 SECTIONS 12 PAGES • P20 THURSDAY, THURSDAY JANUARY 19, 2023 • www.manilastandard.net • mst.daydesk@gmail.com
During the Philippines' Country underway. Strategy Dialogue at WEF in Davos, “Such a fund is one tool among Mr. Marcos said the process for the many in our efforts to diversify our establishment of the Maharlika financial portfolio, which includes Investment Fund (MIF) was already Next page
President touts country's big potential By Vince Lopez and Vito Barcelo PRESIDENT Ferdinand Marcos Jr. showcased the state of the Philippine economy and the opportunities awaiting to be unlocked by future investors, telling
them about moves to make sure the country continues to recover and becomes more conducive for business. In opening remarks during the Country Strategy Dialogue at the World Economic Forum (WEF) in Davos, Switzerland, President Marcos cited an International Monetary Fund (IMF) projection that
global economic growth for 2023 would only be at 2.7 percent, slower than the 3.2percent posted in 2022, and significantly lower than the 6.0 percent recorded in 2021. “But for the Philippines, we project our economy to grow by around 7 percent Next page
BUSINESS TALKS. President Ferdinand Marcos Jr. and his delegation banner the potential of the Philippines as an investment destination and driver of growth in the Asian region during the Country Strategy Dialogue hosted by the World Economic Forum in Davos, Switzerland. Inset photo shows Mr. Marcos in a discussion with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), after their bilateral meeting.
SRA pushes sugar import, Senate takes issue on salt By Othel Campos and Macon Ramos-Araneta DESPITE efforts to achieve food security, the government is resorting to importation of sugar and salt to address a supply gap. The Sugar Regulatory Administration (SRA) said Wednesday it has drafted its recommendation to import about 450,000 metric tons (MT) of sugar. In a radio interview, SRA board member Pablo Luiz Azcona said they are continuously collaborating with stakeholders to discuss the suggested import plan. “We already drafted our recommendations to Malacañang, and then we are just awaiting instruction [to see] if our suggestions or
OUTRAGE. Members of the militant group Defend Southern Tagalog troop in front of the Department of Justice in
Manila on Wednesday, January 18, 2023 to condemn the decision of a DOJ panel junking the murder case against 17 police officers involved in the killing of labor leader Manny Asuncion during the so-called 'Bloody Sunday' raids in Calabarzon on March 7, 2021. Danny Pata
17 cops cleared in slay rap on ‘Bloody Sunday’ By Rey E. Requejo THE Department of Justice has dismissed for lack of evidence the murder complaint against 17 policemen implicated in the death of labor leader Emmanuel “Manny” Asuncion in 2021. Asuncion, the DOJ said, was killed
during a legitimate police operation after he exchanged shots with operatives who took part in the so-called “Bloody Sunday” raids in Calabarzon provinces on March 7, 2021.In a 23-page resolution, the DOJ panel led by Senior Assistant State Prosecutor Rodan Parrocha dis-
missed for lack of probable cause the complaint against the policemen who were accused of summarily executing Asuncion, a criminal offense punishable under Article 248 of the Revised Penal Code. The panel stressed that the evidence Next page
Probe of CAAP technical glitch done in two weeks Surveillance/Air Traffic Management (CNS/ATM) system last January 1, 2023 by an independent body will be completed in two weeks, the Department of Transportation said. The investigation of the technical Transportation Undersecretary for glitch that led to the total shut-off of Aviation Roberto Lim said the investhe Communication, Navigation and tigating body is comprised of repre-
By Darwin G. Amojelar, Maricel V. Cruz and Joel E. Zurbano
sentatives from the DOTr, Department of Information and Communications Technology (DICT), Cybercrime Investigation and Coordinating Center (CICC), National Bureau of Investigation (NBI), and the National Intelligence Coordinating Agency (NICA). Next page
recommendations are okay,” he said in a mix of English and Filipino. He said this would include the higher buffer stock that President Ferdinand Marcos Jr. wants. Azcona said the imported sugar would be open for domestic or retail use. “Our President is really pro-farmer. Its okay to import sugar for retail so consumers will benefit. If the imports are scheduled right, the farmers won’t feel it,” he said. He said the timing of imports is relevant to farmers, because their milling season lasts from October to May. “What the farmers often ask for is that if sugar must be imported, that it arrives after the milling, and after the harvest,” he said. As of now, the SRA said local farmers Next page
Court acquits Ressa, Rappler of tax evasion, decision hailed By Rey E. Requejo
beyond reasonable doubt.” “No civil liability may be adjudged THE Court of Tax Appeals has cleared against the accused as the alleged unpaid Nobel Laureate and Rappler CEO Maria tax obligations have not been factu Ressa and Rappler Holdings Corporation (RHC) of liability in connection with the four tax evasion charges that were filed against her during the Duterte administration. In a decision released Wednesday, the CTA First Division acquitted Ressa and RHC “for failure of the prosecution to prove their guilt
VICTORY. Nobel Laureate Maria Ressa looks on after she was acquitted of the tax evasion cases against her at the Court of Tax Appeals in Quezon City on January 18, 2023. AFP