MANILA, Philippines _There is no constitutional problem in allowing 100-percent foreign ownership in certain industries in the country, but there should be “reciprocity clauses” when amending economic provisions that limit foreign ownership in those sectors, two former justices said during the House of Representatives hearing on Resolution of Both Houses No. 7, which seeks to ease foreign ownership limits in public utilities, educational institutions, and advertising. Azcuna noted that the framers of the 1987 Constitution intended its economic provisions, particularly the three being considered for amendment through RBH 7, to be in effect only for five years and not for nearly fourwq decades. But we did not have any amendment, even on the economic provisions for 37 years,” he added. Still, the former associate justice appointed by former President Benigno Aquino III was not too keen on Charter change.

Financial chief Paul Chan Mo-po handed out fewer sweeteners in the annual budget announced on Wednesday, with the one-off measures totaling HK$11.5 billion - smaller than the HK$59.4 billion in the last budget. The government will also not pay the examination fees for school candidates sitting the Hong Kong Diploma of Secondary Education Examination in 2025. Meanwhile, recipients of social security benefits, including the Comprehensive Social Security Assistance, Old Age Allowance, Old Age Living Allowance, Disability Allowance and Working Family Allowance will receive an allowance equal to half the standard monthly rate of their benefits. We have a few years' budget deficit, this year it's going to be a deficit again,"So there are certain limitations as to the room within which we can hand out those sweeteners. "We think it's appropriate for us to still give some relief support, but we have to scale it back, a little bit," Chan added.

With Tessie Sy as chair and Wharton-educated Nestor Tan, 66, as president-CEO, BDO has been the country’s largest bank since 2015. The country’s second largest bank, state-owned LandBank, reported record net profits of P40.3 billion, exceeding its P35-billion profit target for 2023. Monthly, BDO makes P6.1 billion in net profits; BPI P4.3 billion; Metrobank P3.5 billion and LandBank P3.3 billion. The pension fund of private workers, meanwhile, the Social Security System, reported net profits of P83.13 billion, up 62.8 percent. The world’s first modern economic zone, the 64-year-old Shannon Free Zone in Ireland, now hosts 300 companies and employs about 8,000 individuals.

Marcos Jr.: Cha-cha plebiscite before 2025 polls costlyPresident Ferdinand "Bongbong" Marcos Jr. graces the 2024 General Assembly of the League of Municipalities of the Philippines at a hotel in Pasay City on February 27, 2024. MANILA, Philippines — Holding the Charter change plebiscite before the 2025 elections will be “very costly” and hard, President Marcos said yesterday, as he confirmed that he prefers the referendum to be conducted alongside the May 2025 midterm polls. On Monday, Senate President Juan Miguel Zubiri said Marcos had informed senators that he wanted the plebiscite on the proposed Charter changes to be held simultaneously with the 2025 elections. The House of Representatives, which is dominated by Marcos’ allies, is aiming for a plebiscite by July this year. The Comelec is introducing the use of the Full Automation System with Transparency Audit/Count or FASTrAC in the May 2025 polls.

VICSAL Foundation Inc. (VSF), the philanthropic arm of Vicsal Development Corp., has been providing vital support to financially challenged yet deserving students through its scholarship program. CONTRIBUTED PHOTO"As a VSF scholarship recipient, I feel a deep sense of recognition for my efforts and achievements. Beyond financial assistance, the VSF scholarship program provides scholars with a supportive community and valuable resources to thrive academically and professionally. "Joining Metro Retail Stores Group was a direct result of the support provided by VSF Foundation. As the VSF program continues its work, it remains dedicated to creating opportunities for future generations of students.

Filipino-British swimmer Heather White delivers the first medal of the Philippines in the 11th Asian Age Group Champions on Tuesday evening, Feb. 27, 2024, at the New Clark City Aquatics Center. White clocked one minute and 3.09 seconds in the girls 15-17 100m butterfly event to claim a bronze medal. The 16-year-old, whose mother hails from Pantukan, Davao de Oro, finished behind Hong Kong tankers Yeung Hoi Ching and Mok Sze Ki who seized the gold and silver medals, respectively. Video by Niel Victor MasoyGet the latest newsdelivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy

Francis Casey "Niño" Alcantara continues his climb in the ATP doubles tennis world rankings. From 169th, the Filipino tennis sensation rose to a career-best ranking of 162nd last week. Alcantara's stellar three-week stretch saw him clinch the doubles title at the ITF India tournament, followed by strong showing in the doubles semifinals at the Challenger Event in Bengaluru, India. "Niño's rise in the global rankings just shows how dedicated, devoted, and talented he is. Alcantara, meanwhile, could not believe his rise in the world ranking saying, "I'm just here to play and give my best whether it's locally or in the international scene.

President Ferdinand Marcos Jr. on Wednesday, Feb. 28, 2024, laughs off the claim of Kingdom of Jesus Christ leader Pastor Apollo Quiboloy that he and First Lady Marie Louise "Liza" Araneta-Marcos were conniving with the United States to assassinate him. Video by Catherine Valente

Netflix's 'Avatar: The Last Airbender' stars Gordon Cormier (Aang) and Dallas Liu (Prince Zuko) hold a press conference in Manila on Thursday, Feb. 22, 2024, and share their experience in filming the series. Cormier – a Filipino-Canadian – said he is happy to be back in the country and meet his family. Video by Iza IglesiasGet the latest newsdelivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy

President Ferdinand Marcos Jr. on Wednesday, Feb. 28, 2024, delivers his departure statement before flying to Australia for a two-day state visit. The President will speak to Australian lawmakers on Thursday, February 29, and discuss the vision for the Strategic Partnership between the two countries. Video by Catherine Valente

The government will issue a number of bonds in the coming fiscal year, with HK$70 billion to be in the retail tranche. Financial Secretary Paul Chan said in the coming fiscal year, the government will issue HK$120 billion worth of bonds. The HK$70 billion retail bonds will include HK$50 billion Silver Bond and HK$20 billion green bonds and infrastructure bonds. He added that the city has ranked first in the region for seven consecutive years in terms of the volume of international bond issuance, and proposed to expand the scope of the Government Green Bond Program to cover sustainable finance projects and take forward the Infrastructure Bond Scheme to raise capital for infrastructure projects. Chan noted that the government will continue to adhere strictly to fiscal discipline and keep the debt at a prudent level.

Transport subsidies offered by the government - the HK$2 fare scheme for the elderly and the Public Transport Fare Subsidy Scheme - will not be canceled as a review is set to be completed within this year, said Paul Chan. The financial chief emphasized that the government has no intention of cancelling these schemes, with the review aiming to enable the continued provision of the subsidies in a financially sustainable manner. Chan said the annual expenditure of the HK$2 fare scheme has increased by over 200 percent from HK$1.3 billion in 2019-20 to about HK$4 billion in 2023-24, while the annual expenditure of the Public Transport Fare Subsidy Scheme has doubled from HK$1.7 billion in 2019-20 to the revised estimate of about HK$3.5 billion in 2023-24. Government sources said today that authorities have no intention of changing the age threshold of the beneficiaries of the HK$2 scheme. When asked if the review will lead to changes in the types of transportation covered by the scheme, or whether the scheme should continue to cover cross-harbor trips, sources said all aspects will be taken into account during the review.

WASHINGTON, D.C.: US Commerce Secretary Gina Raimondo expressed confidence on Monday that the country can house the entire silicon supply chain for making advanced chips, including tech that is key for artificial intelligence (AI). Raimondo expressed confidence on Monday, Feb. 26, 2024, that the US can store the entire silicon supply chain for manufacturing advanced chips. Raimondo expressed confidence on Monday, Feb. 26, 2024, that the US can store the entire silicon supply chain for manufacturing advanced chips. "The brutal fact is, the United States cannot lead the world as a technology and innovation leader on such a shaky foundation," she added. Washington is also "not losing sight" of the need for current generation and older chips needed for cars, medical devices and defense systems, Raimondo said.

DOJ to pursue murder charges vs cops in Jemboy slayAssistant Secretary Mico Clavano, spokesman of the Department of Justice, speaks with Jemboy Baltazar's father, Jessie Baltazar, during a press conference at the DOJ on Feb. 27, 2024. In August 2023, the DOJ indicted six cops on the charge of murder for the killing of Baltazar. RELATED: Cop convicted of homicide in Jemboy case; others receive lighter penaltiesIn the 44-page decision of the court, PSSg. "There are still some legal remedies that we can explore, although tama na dahil na-acquit na 'yung isa, it will fall under the doctrine of double jeopardy. However, there are certain legal remedies that we can pursue that may reopen the case, even for the one who is acquitted.)

Gilas invited to scrimmages vs European powerhousesHead coach Tim Cone said a bevy of European powers like the Luka Doncic-led Slovenia, Lithuania and the Czech Republic have invited the Philippine team for OQT preparations. Head coach Tim Cone said a bevy of European powers like the Luka Doncic-led Slovenia, Lithuania and the Czech Republic have invited the Philippine team for OQT preparations, the gateway to the Summer Olympics in Paris. 8 team that came off a remarkable fifth-place Cinderella run in the FIBA World Cup held in Manila last year. But there’s a catch for Gilas, which will only have 10 days to spare if it pushes with the plan of testing mettle against European teams led by world No. “This 2-0 start (in FIBA Asia Cup) is great but that's a little, baby step on the way.