Market extends losing streakThe benchmark Philippine Stock Exchange index took a nosedive on Thursday, shedding 2.34 percent or 157.24 points to end at 6,557.09. MANILA, Philippines — Share prices plunged anew yesterday as investors continue to exit the market, extending the local bourse’s losing streak to seven days. The benchmark Philippine Stock Exchange index took a nosedive on Thursday, shedding 2.34 percent or 157.24 points to end at 6,557.09. The broader All Shares index also plummeted deeper in the red, dropping by 2.95 percent or 111.84 to 3,680.62. Market breadth was negative as decliners crushed advancers, 181 to 35, while 38 issues were unchanged.

The World Bank (WB) approved a loan of 750 million USD on November 13 to help boost digital transformation in the Philippines. Illustrative photo (Photo: philstar.com)Hanoi (VNA) – The World Bank (WB) approved a loan of 750 million USD on November 13 to help boost digital transformation in the Philippines. According to the bank’s press release, the Second Digital Transformation Development Policy Loan supports the Philippines' efforts to transform the country's digital sector through enhanced connectivity, digitalisation, a dynamic innovation ecosystem, and private sector partnerships. The WB emphasised that greater digitalisation is crucial for an economy like the Philippines, characterised by a large population spread across many islands. It added that digital connectivity and Filipinos' participation in the digital economy are vital to bridging geographic and socio-economic divides.

John Krasinski is 'Sexiest Man Alive' 2024 for People magazineJohn Krasinski arrives for the premiere of 'If' at the SVA Theater in New York City. MANILA, Philippines — Filmmaker and actor John Krasinski was named by People magazine as the "Sexiest Man Alive" for 2024. "That's not how I wake up, thinking, 'Is this the day that I'll be asked to be Sexiest Man Alive?'" He admitted that being the "Sexiest Man Alive" doesn't make much of a difference, quipping that he might have to do more chores at home. Krasinski succeeds Patrick Dempsey as the "Sexiest Man Alive," a title previously held by the likes of Chris Evans, Paul Rudd, Michael B. Jordan, Idris Elba, Dwayne Johnson, David Beckham, Chris Hemsworth, and Channing Tatum.

MANILA, Philippines — Former President Rodrigo Duterte has defied the appeal made by her daughter—Vice President Sara Duterte—that the ex-leader be excused from the House of Representatives’ quad committee hearing as it is already getting late. Article continues after this advertisement“It would be great for the people to know that I died in your (committee hearing),” Duterte replied. Article continues after this advertisement“Eh, Vice President lang naman, hindi naman siya Presidente. Maghintay siya kung Presidente siya, maniwala tayo (But she’s just a vice president only, not a president. Duterte attended the quad committee hearing after being invited numerous times, to shed light on the alleged human rights violations in his drug war.

MANILA – The Philippine Navy has launched the “first in-country” assembled fast attack interdiction craft missile (FAIC-M) at the naval shipyard in Cavite City. Article continues after this advertisement“This milestone represents our progress in strengthening national security and our commitment to advancing the Self-Reliant Defense Posture (SRDP) program, particularly in shipbuilding,” Adaci said. The launching is a ceremony and a nautical tradition where the ship’s hull is transferred from the water for the first time. The newly launched FAIC-M is part of the Acero-class patrol gunboat fleet in the Navy’s Littoral Combat Force, of which six are now in service. Article continues after this advertisementThese ships have quick intercept capabilities and a top speed of 40 knots, ideal for addressing current and emerging security threats.

00:00 We have to check with the BI. 00:09 But I understand there are reports that Ruyi Nagarma is out of the country because there is no hold departure order. 00:18 They were also released from the custody of the Congress and I understand that there is no hold departure order so they were allowed to travel to the US. 00:30 But as to their arrest, we have to check with the BI first. 00:50 The hold departure order is issued by the court when we have one more case.

LTG profit increases in 9 monthsMANILA, Philippines — LT Group Inc. (LTG) of taipan Lucio Tan posted higher earnings in the nine months ending September as improvement in the operating results of most business units offset the slowdown in the tobacco segment. From January to September, LTG’s net income reached P19.82 billion, three percent higher than last year’s P19.25 billion. Profit of the banking segment increased by 11.4 percent to P15.06 billion during the nine-month period on the back of higher net interest income. LTG’s share in the net income of Philippine National Bank amounted to P8.44 billion for the period, higher than the P7.64 billion in 2023. “The decline in PMFTC’s earnings stemmed from lower sales volume, which continues to be impacted by the persistent challenge of illicit tobacco trade within the country,” LTG said in its quarterly report.

00:53 Ito pong dokumentong ito, ito po yung naging basis ko noong Plunder Case na finail ko kay Duterte noon 2016. 01:49 Nag-sabi na yan siya na magbibigay siya ng waiver, puro bluff yan. 02:02 Pero ito po, I'll be presenting later on, Mr. Chairman, a video of his actual admission of these accounts. Ipe-presenta po yan. 04:32 We live by a set of rules in this committee, and those set of rules will be followed, and those set of rules will be implemented.

Recovering consumer demand lifts Cosco’s profitCosco reported a net income of P10 billion during the three quarters, up from P9.1 billion a year ago as revenues grew by 9.1 percent year-on-year to P164 billion. The company said that the sustained and stronger revenue growth across all its business segments indicate a recovering consumer demand. Cosco’s grocery retailing businesses, Puregold Price Club Inc. and S&R Membership Shopping Club, contributed 69 percent of total net income during the nine-month period, followed by the liquor distribution with 22 percent. Cosco’s energy and minerals segment, meanwhile, generated earnings of P165 million and revenues of P335 million during the three quarters. For the specialty retailing business segment, net income improved by 3.3 percent to P66 million despite a 3.5-percent drop in revenues to P1.6 billion.

WATCH: Philippines' Angelica Lopez shows national costume at Miss International 2024MANILA, Philippines — Miss Philippines Angelica Lopez was unplaced at the 62nd Miss International pageant held last night in Tokyo, Japan. The pageant was canceled in 2020 and 2021 due to COVID-19 pandemic. Angelica, however, was able to showcase her national costume and pink outfit designed by House of Victoria by Jomar Peralta and made of Hablon, a cherished handwoven textile from Iloilo. Vietnamese delegate Huynh Thi-Thanh Thuy was proclaimed the 62nd Miss International titleholder, the very first for her country. — Video from Miss International via YouTube, video editing by Philstar.com/Martin Ramos

More FTAs, exports diversification pushed after Trump winMANILA, Philippines — The Philippines must continue efforts to enter into more free trade agreements (FTAs) and diversify exports to strengthen the economy’s resilience amid returning US President Donald Trump’s promise to slap tariffs on imported goods, according to the National Economic and Development Authority (NEDA). “So I think that we will have to continue with our internal efforts, our internal reforms, to ensure that whatever the state of the global economy, our local economy will be able to adjust and take advantage of opportunities to protect the local economy from any adverse shocks if there will be one,” he said. Even before the elections in the US, he said the Philippine government has been pushing for initiatives to reduce the vulnerability of the local economy to any external shocks, especially from major trading partners. “We have been pushing, we have been more aggressive in opening up other channels, like our FTAs with other countries. In line with the government’s thrust to diversify export markets, the Philippines has been pursuing FTAs with various countries.

Trump 2.0 will have no guardrails, no check on its drive to remold policies on everything from reproductive rights to Ukraine. Trump the political narcissist interprets his sweeping mandate as a license to bend the entire US government to his will. Recall that pro-Hamas protesters heckled her rallies but did not do the same for Trump, who had a tougher pro-Israel stance. During the campaign, Trump encouraged Israel to attack Iran’s nuclear facilities. A Trump administration, for instance, may be less sympathetic towards the Philippine effort to build alliances to counter Chinese bullying.

‘Private consumption likely to improve’MANILA, Philippines — Despite the economy slowing down to just 5.2 percent in the third quarter, private consumption may strengthen in the coming quarters due to receding inflation and easing monetary policy of the Bangko Sentral ng Pilipinas (BSP), analysts said. “We see private consumption growth improving further in the fourth quarter alongside receding inflation, reduced unemployment, improved consumer confidence and a hike in minimum wages that took effect in the third quarter,” he said. According to Gonzales, the uptick in credit growth is in line with improving consumption and investment. Prior to the cuts, the BSP kept its policy rate steady for six straight meetings since November 2023 to anchor inflation and inflation expectations. Gonzales said the third-quarter GDP slowdown strengthens the likelihood of another 25-basis-point rate cut from the BSP in December.

We also have to borrow heavily to support our national budget, money that future generations will have to pay. The amount is part of the P15.5 million in confidential funds of the DepEd’s Youth Leadership Summits (YLS) in 2023. The 2024 national budget allocated P997.9 billion for flood control projects and the DPWH is requesting a P900-billion budget for next year. These institutions must make sure no one is above the law, and the use of public funds must be explained. Once upon a time a dictator was ousted for, among other reasons, thinking that public funds were his family’s funds.

The 2024 Philippine Trust Study (PTS) reveals that Filipinos now demand proof before extending trust to institutions. For most Filipinos, trust is a gut feeling – ”gusto ko sya, mabait sya, naniniwala ako sa kanya” (I like him/her, he/she is good, I believe in him/her). So, they rely on gut feel, cross their fingers, and hope that their trust is rewarded. The data suggests that while trust in local government is strong, trust in national government reflects more caution and is influenced by public perceptions of transparency, competence and consistency in governance. In contrast, social media platforms face significant distrust (though in reality, most prefer social media due to its accessibility, as nearly everyone has a mobile phone).