As the battle shifts to the Senate after the House of Representatives overwhelmingly approved the bill creating the Maharlika Investment Fund (MIF), a former official of the Bangko Sentral ng Pilipinas (BSP) has called on the public to amplify its objections to the measure. Diwa Guinigundo, BSP deputy governor until 2019, said that while the...
Category: News
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Climate post-COP27: The relevance of loss and damage to the Philippines
The most significant outcome of the United Nations’ Climate Change Conference or Conference of the Parties (COP27) in November was an agreement to establish a “loss and damage” fund. There was no breakthrough on concrete measures to limit the rise of global temperature to 1.5 degrees Celsius above pre-industrial levels. Thus, the deal on loss...
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‘Maharlika Wealth Fund’: wrong in principle, thus beyond repair
Let us reflect on process and progress. The more common source of failure to progress is “circling”—moving round and round in circles, only to arrive at the original location. Many things have been said about the proposed “Maharlika Wealth Fund” (MWF). Now the framers are scrambling to make the legislation enabling it, House Bill No....
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Trafficking Filipinos: Are immigration, airport personnel involved?
(Last of two parts) :Trafficking Filipinos: Philippines becoming ‘incubator of scammers’ A mix of excitement and anxiety filled “Paulo” as he stepped off a cab at the departure area of the Ninoy Aquino International Airport (Naia) Terminal 3 on Oct. 4. He was flying to Thailand, his first trip out of the country. Everything had...
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Trafficking Filipinos: Philippines becoming ‘incubator of scammers’
(First of two parts) Trafficking Filipinos: Are immigration, airport personnel involved? Tantalized by the promise of being paid P50,000 a month, “Betty,” a single mother of four in Navotas City north of Manila, didn’t think twice about grabbing an opportunity last April to work as a call center agent in Thailand. Before the month ended,...
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‘Maharlika Wealth Fund’ is uniting Filipinos in resisting it
The cost of administering the Maharlika Investments Fund (MIF), the Philippines’ sovereign wealth fund to be established should the bill seeking its creation be passed into law, is alarming many Filipinos. Its ability to generate the “consistent and stable investment returns” that its proponents tout is also raising loud questions. One wonders how the Fund...
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Nemenzo, candidate for UP president, receives outpouring of support
Of the six candidates seeking the presidency of the University of the Philippines, UP Diliman Chancellor Fidel Nemenzo has received an outpouring of support not only from students and faculty but also from national artists, scientists and academicians. Last week, 10 national artists and 53 UP professor emeriti signed a statement backing Nemenzo for fulfilling...
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COP27 outcome ‘best ever,’ but fight for climate justice far from over
Climate expert Tony La Viña summed up the outcome of the 27th United Nations Climate Change Conference (COP27) in Egypt in this way: the best ever for not only climate justice advocates but fossil producers, too. “COP27 is the biggest victory ever for climate justice advocates in the last 30 years,” La Viña, associate director...
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Digging for clues to Abra’s earthquakes
Last Oct. 25 at about 11 p.m., my earthquake alert app sounded while I was finalizing the visual material for my presentation at NIGSCON 2022 in two days. I would be discussing the magnitude-7 temblor that struck the province of Abra three months ago at the annual conference of the University of the Philippines’ National...
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Oxytocin and a smooth talker are the drivers behind romance scams
“Michelle” would have known it was one of the popular cons had she read more about it sooner, but “Perry” was one smooth operator. Waking up after half a sedative pill had sent her to la la land, she put two and two together. She’d fallen hook, line, and sinker for a romance scam, and...