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VOL. XXXVIII • NO. 270 • 3 SECTIONS 16 PAGES • P20 • TUESDAY, NOVEMBER 12, 2024
RAGING WATERS. Fed by the heavy rainfall of Typhoon ‘Nika’, the waters of Chico River in Bontoc, Mountain Province has risen to 4.27 meters as of 4:20 p.m. yesterday, prompting the Bontoc MDRRMC (Municipal Disaster Risk Reduction and Management Council) to raise the alert level to Orange. The Bontoc MDRRMC warned residents to avoid going to or doing any activities in the river and its nearby vicinity to prevent untoward incidents. Bontoc LGU
Triple whammy: ‘Nika’ hits north Luzon; 2 more cyclones this week By Rio N. Araja and Rex Espiritu
CREATE MORE. President Ferdinand R. Marcos Jr. signs the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy or CREATE MORE Act yesterday in Malacanang. The law will facilitate the process of VAT and excise tax refunds, expand the scope of VAT and duty incentives for high-value domestic enterprises and non-registered exporters, and raise the investment threshold to P15 billion, from P1 billion, before passing through Fiscal Incentives Review Board for easier approval process of investments. With the President are lawmakers led by Senate President Francis Escudero and House Speaker Martin Romualdez. PCO
THOUSA N DS of villages were ordered to evacuate and ports shut down, officials said Monday, as the country was struck by Typhoon “Nika” —the fourth in less than a month.
Marcos eases tax breaks, incentives
And while “Nika” is forecast to exit the Philippine area of responsibility today, the state weather bureau said two tropical cyclones are expected to barrel through the country this week. PAGASA said a tropical depression was located outside the PAR, moving west northwestward at a fast pace and estimated at 1,480 kms east of Eastern Visayas. Once it enters the country toNext page
New law aims to boost investment By Charles Dantes, Othel Campos and Maricel Cruz
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RESIDENT Ferdinand “Bongbong” Marcos Jr. on Monday trimmed corporate taxes and offered more fiscal incentives under a new law aimed at drawing more foreign investments. The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act reduces corporate income tax to 20 percent from 25 percent and allows firms
to adopt “work-from-home” arrangements for up to half their workforce, among others. It also allows businesses currently enjoying investment incentives to take advantage of enhanced tax deductions,
House cites 4 OVP execs for contempt; Sara defends staff
Ortonio, Gina Acosta, Sunshine Fajarda, and Edward Fajarda—have been subpoenaed multiple times to shed THE House Committee on Good light on the alleged mishandling of Government and Public Account- government funds by Vice President Sara Duterte. ability on MonTheir non-atday cited four Solons hit Rody for failing tendance at Monofficials from to shield drug war cops day’s hearing the Office of the was attributed to Vice President NEWS / A3 them being on of(OVP) for conficial travel. tempt and orThe panel, chaired by Manila Rep. dered their detention for repeatedly Joel Chua, cited the officials for defying summonses. Next page The four OVP officials—Lemuel
By Maricel V. Cruz and Rachelle Tonelada
including a 100 percent coverage for power expenses, as well as extends VAT incentives to non-registered exporters and high-value domestic enterprises. With the new law, only projects with capital exceeding P15 billion will require review by the Fiscal Incentives Review Board, raising the threshold from the previous P1 billion. “We have taken a decisive step towards our vision of a globally competitive and investment-led Philippine economy. Through this law, we
The COP29 Conference on Climate Change is underway now in Baku, Azerbaijan as another typhoon is barrelling through the northern Philippines. The upper portion shows conference delegates in formal dress, seated by a long table in a well-lit room. Below are the Filipinos being carried away by raging flood waters. (The cartoon was AI-generated.)
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SC leveraging AI to modernize court operations By Pot Chavez THE Supreme Court (SC) announced that it will draft guidelines for the responsible integration of Artificial Intelligence (AI) across various court operations and management areas.
A magistrate said on Monday that the “AI Governance Framework” is a key step toward modernizing the judiciary’s systems and workflows and is aligned with the SC’s Strategic Plan for Judicial Innovations 2022-2027. In a press briefing, Senior Associate
THE Philippines must be prepared for the policy shifts that US President-elect Donald Trump has vowed to implement once in office, according to Senate President Francis Escudero. Escudero said the government should start drawing up scenarios in the Trump administration and pre-
paring a response. “From trade to security to immigration, what he said he plans to do, some on day one of his administration, would certainly impact us,” he added. If Trump pushes through with his pronouncement to carry out the greatest mass deportation in US history, “then how many of the Next page
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ELEKSYON 2025.
The Manila Standard, represented by Managing Editor Joyce Panares, joined 49 other media, civic and acadamic institutions in signing a memorandum of agreement with GMA Network to launch the most comprehensive and credible coverage for the 2025 national and local elections. GMA News screengrab
PH must be ready to adapt to policy shifts under Trump By Joel E. Zurbano
Justice Marvic M.V.F. Leonen shared that the framework will provide standards for using AI in court administration, such as human resource, finance, and security, as well as in legal research, document analysis, courtroom
CICC probing possible GCash cyber attack By Darwin G. Amojelar THE Cybercrime Investigation and Coordinating Center (CICC) is investigating a potential organized cyberattack targeting GCash accounts that
caused the unauthorized fund transfers over the weekend. CICC Executive Director Alexander K. Ramos said that the agency started focusing on organized breaches instead of a system glitch when the agency
started to look into the case of popular actress Pokwang or Marietta Tan Subong in real life. In her Instagram account, the 52year old comedian claimed that she lost Next page