00:58.8
proposing huge changes to the U.S. and Japan's trade agreement.
01:00.0
military financing for the Philippines.
01:02.8
Katrina Domingo is in Washington with tonight's top story.
01:08.3
A historic and possibly one of the most momentous events in our history.
01:13.0
This is how Philippine Ambassador to the United States,
01:15.4
Jose Manuel Romualdez, described the trilateral summit of the Philippines, Japan, and the United States.
01:22.1
While the three countries are expected to amplify their commitment
01:25.2
to uphold the rule of law in the South China Sea,
01:27.8
Tokyo and Washington are also expected
01:29.9
to pour in at least 100 billion U.S. dollars in investments in the Philippines
01:33.9
to accelerate and surge high-quality infrastructure in several key sectors,
01:38.8
including energy, maritime cooperation, technology, and cyber security.
01:43.4
We're talking about 100 billion in investments in the next 5 to 10 years.
01:48.5
Perhaps even 5 years would probably be more appropriate
01:52.6
because of the fact that we have a lot of areas where we are putting ourselves
01:59.9
A lot of these investments are mostly, as I said,
02:03.3
in the semiconductor industry, which is part of our digital infrastructure,
02:07.6
which is also very important,
02:09.4
and also in the area of energy.
02:14.2
The more exciting part of the clean energy projects
02:19.8
that we're trying to lure into the country
02:21.9
is the small modular nuclear power plants.
02:24.9
The President is quite excited specifically about a company
02:29.1
that is going to be a part of the country.
02:29.8
We're going to be supplying these small nuclear power plants.
02:35.2
Ramualdez says while some U.S. companies are looking to bring in
02:38.7
small modular nuclear power plants,
02:41.3
the Philippines is also expected to benefit from Japan's growing production
02:44.7
of defense and security technologies.
02:47.4
Japan now will be producing quite a number of technological enhancements for defense.
02:56.1
And obviously because of our relationship
02:59.8
both in Japan and the United States,
03:01.8
we most likely will be getting some of that
03:04.8
or either we will be buying it
03:07.7
or we will be given an opportunity to be able to have it
03:12.2
as part of our defense modernization.
03:17.2
So that is where the major change is,
03:20.2
that the cooperation is so strong
03:22.0
that we can expect a lot of these types of enhancements
03:26.3
on the economic sphere,
03:27.9
but which also can include defense.
03:32.5
Despite this show of force from Manila, Tokyo, and Washington,
03:36.1
Ramualdez insists that the three allies are not looking to provoke any country.
03:40.5
We're not looking for any conflict with any country.
03:43.5
In fact, we're reaching out to the ASEAN region.
03:46.3
Again, it's a multilateral approach.
03:48.6
This is the policy that the President has spelled out to all of us.
03:52.6
U.S. National Security Communications Advisor John Kirby says
03:56.0
there is no reason for China to be a part of this.
03:57.8
China is trying to overreact to the multilateral strategies happening in the region,
04:01.8
specifically the recent quadrilateral exercises involving the Philippines,
04:05.6
Australia, Japan, and the United States.
04:08.0
This is about freedom of navigation.
04:11.1
It's about adherence to international law.
04:12.9
It's about proving the simple point
04:16.3
that we and our allies will fly, sail, and operate
04:21.7
wherever international law permits us to do.
04:24.9
And it does in the South China Sea.
04:29.3
Ramualdez says all of these meetings and deals
04:31.9
are rooted on the Philippines' desire to do one thing.
04:34.7
We know clearly what we want to do,
04:36.8
which is to protect our territory and our sovereign rights.
04:41.3
And so all of these things that we're doing is precisely in that direction.
04:45.5
For so many years, the Filipino patience has been stretched to the limit.
04:51.1
And we're now at the point where are we just going to sit
04:54.7
and allow and see?
04:57.8
We just want to be given our right
05:02.9
to be able to explore our own environment,
05:07.8
our territory, the respect for international law.
05:13.9
Meanwhile, two U.S. senators on Wednesday introduced a bipartisan bill
05:17.5
to provide Manila with $2.5 billion worth of aid
05:21.2
to boost its defenses against Chinese aggression in the West Philippine Sea.
05:25.5
Reuters reports the bill allots...
05:27.8
$500 million a year in foreign military financing grant assistance
05:32.6
to the Philippines over the five fiscal years to 2029.
05:37.9
All of these projects and commitments are expected to be outlined
05:41.1
in a joint vision statement that three leaders will release
05:44.0
after the trilateral summit.
05:46.0
Aside from this historic meeting,
05:47.4
President Ferdinand Marcos Jr. is also expected to have
05:50.3
a bilateral meeting with U.S. President Joe Biden
05:52.7
and a separate meeting at the Pentagon with U.S. Defense Secretary Lloyd Austin.
05:57.8
leader is also expected to meet with several U.S. investors
06:00.6
to convince them to do more business in the Philippines,
06:03.7
including several executives from tech giant Google.
06:07.3
Katrina Domingo, ABS-CBN News, Washington, D.C.
06:12.5
China accuses the U.S. and Japan of smearing it
06:16.2
during a Washington summit of the two allies.
06:19.4
It says the two ignored China's grave concerns
06:22.2
on Taiwan and maritime issues
06:24.2
and seriously violated the basic norms of international law.
06:27.8
U.S. President Biden and Japanese Prime Minister
06:31.7
Humio Kishida earlier bared plans to restructure
06:35.1
the U.S. military command in Japan.
06:37.9
It is the latest upgrade in U.S.-Japan defense ties
06:41.0
and the biggest since the 1960s.
06:44.3
The move aims to make American and Japanese forces
06:46.9
more nimble in the event of a threat.
06:49.6
Biden insists the military upgrade is purely defensive.
06:57.8
China's foreign ministry insists there has never been a problem
07:01.4
with freedom of navigation in the South China Sea.
07:04.5
A ministry spokesperson gave this reaction
07:06.7
to the Washington summit of the U.S., Japan, and the Philippines.
07:12.3
Thanks to the joint efforts of China and ASEAN,
07:16.8
the South China Sea has basically maintained peace and stability.
07:20.6
Some countries outside the region, led by the United States,
07:23.9
are constantly forming small circles in the South China Sea,
07:27.8
to engage in confrontation in the name of cooperation,
07:32.1
flex their muscles in the name of peace,
07:34.6
and create chaos in the name of order.
07:38.5
China claims sovereignty over nearly the entire South China Sea.
07:42.8
Its coast guard and maritime militias
07:44.7
have regularly harassed Filipino fishermen
07:46.8
and Philippine resupply missions
07:48.9
to Manila's outpost in the West Philippine Sea.
07:54.2
China's embassy in Manila slams accusations
07:56.8
that Beijing has planted so-called sleeper cells
08:00.5
that threaten Philippine national security.
08:03.5
The embassy says the allegations are malicious and groundless.
08:07.3
It says suspicions about the secret Chinese agents
08:10.6
are mere fabrications.
08:12.9
The embassy urged the Philippines
08:14.4
to stop spinning false narratives
08:16.5
and arousing anti-China sentiments.
08:19.9
Suspicion over the existence of the sleeper cells
08:22.7
arose from the arrest of four Chinese nationals
08:25.6
in Palawan province.
08:26.8
They were issuing fraudulently acquired Philippine ID documents
08:31.1
such as passports with special resident retiree visas.
08:36.5
The U.S. Air Force insists
08:38.7
its ongoing aerial combat exercises with the Philippines
08:42.0
are not meant to target any current threats.
08:45.3
The details from Bianca Dava.
08:48.3
The Philippine Air Force on Thursday trained side-by-side
08:51.9
with the United States Pacific Air Forces
08:54.2
as part of the first iteration
08:56.2
of their mission to stop the sleeper cells.
08:56.8
The U.S. Air Force said
08:57.5
that the U.S. Air Force
08:57.8
has been conducting basic fighter maneuvers
09:03.2
at the BASA Air Base in Pampanga.
09:05.9
The drills allowed them to show their capability
09:08.0
and readiness to respond to possible threats in the region.
09:12.8
In the drills conducted today,
09:14.6
Americans flew four of their F-16 fighter aircraft
09:17.6
while Filipinos also used four of our F-A-50
09:20.7
lead-in fighter aircraft.
09:22.9
The air operation drills were conducted over waters
09:25.8
in the western side of the Philippines.
09:26.8
For today, for this week,
09:29.4
we have air-to-air exercises up until next week.
09:33.0
It will be composed of basic fighter maneuvers
09:35.4
to air combat maneuvers up until tactical intercept.
09:38.7
And then after that, after which,
09:40.2
we'll be having some limited air-to-surface.
09:43.3
We practice interoperability here.
09:46.3
So we're trying to prepare our pilots
09:48.1
in terms of the communication standards,
09:51.2
in terms of tactics, techniques, and procedures.
09:53.9
Philippine Air Force spokesperson
09:55.8
Colonel Maria Colada,
09:56.8
Consuelo Castillo said,
09:58.5
the COPE Thunder training is part of the country's preparations
10:01.4
for participating in international exercises,
10:04.8
specifically the Australian-led
10:06.4
Pitch Black Warfare exercise scheduled in July.
10:09.9
For the first time,
10:11.4
the PAF will send its F-A-50 lead-in trainer fighter aircraft
10:15.6
We're going to have our biggest participation so far
10:19.0
in the Pitch Black exercise
10:20.6
which is expected to happen in Australia
10:22.8
by July, July to August.
10:26.8
if the previous years
10:28.4
of the Pitch Black exercise in Australia,
10:32.5
normally, we're just sending observers.
10:35.1
This time, we are planning to send fighter aircraft.
10:40.0
So, we're going to have large force deployment.
10:42.5
The U.S. Air Force stressed,
10:44.6
COPE Thunder is not directed towards the Philippines' challenges
10:47.7
to its territory and sovereign rights.
10:50.5
Instead, the exercise aims to strengthen
10:53.2
the two air forces' bilateral partnership
10:55.3
to maintain a free and open air force.
10:56.6
And, open Indo-Pacific.
10:58.1
And, we've been doing exercises like this
11:00.5
for many years now.
11:02.6
And, we'll continue to do so.
11:04.2
And, not because of any current things going on
11:10.3
in the world right now,
11:11.0
but just because both the U.S. and the Philippine Air Force
11:14.6
believe that as we work together
11:16.2
to make a free and open Indo-Pacific,
11:19.9
we prepare ourselves to operate
11:22.2
in a joint environment one day
11:24.2
for not any current project,
11:27.2
but potentially future threats
11:28.9
that we might even not know about yet.
11:31.1
Aside from field exercises,
11:33.3
the Filipino and American airmen
11:34.8
also conducted subject matter expert exchanges
11:37.3
on maritime strike and anti-ship tactics.
11:40.8
The first iteration of COPE Thunder
11:42.9
will run until April 19.
11:45.2
A second iteration is scheduled in June.
11:50.1
Meanwhile, the Philippine Air Force
11:52.2
is expecting the arrival of more air assets
11:54.5
in the next two years
11:56.0
as part of Horizon 2
11:57.4
of the AFP Modernization Program.
11:59.8
This year, we are expecting more aircraft
12:03.6
coming in as part of our acquisition
12:06.5
and modernization program
12:08.1
under the Horizon 2.
12:10.4
So, may mga contracts na to.
12:12.6
And, for the next one to two years,
12:15.9
we are expecting them to come in.
12:17.7
We are expecting more blackhawk helicopters.
12:21.1
We are expecting C-130s.
12:23.7
Multi-role fighters,
12:25.2
which have been under the control of the U.S. Air Force,
12:25.8
have been able to come in.
12:25.8
The aircrafts that have been on the PAF's wish list
12:27.0
for quite some time now
12:28.4
are expected to be acquired under Horizon 3.
12:32.0
Bianca Dava, ABS-CBN News, Florida, Blanca, Pampanga.
12:38.6
Two Philippine Navy pilots are killed
12:41.4
in a helicopter crash in Cavite Province.
12:44.9
Raya Capulong has the full story.
12:48.3
A Philippine Navy training helicopter crashed
12:51.4
near a public market in Cavite City on Thursday morning.
12:55.0
Leaving two Navy officers dead.
12:57.8
The fatalities were identified as
12:59.6
36-year-old male pilot Lieutenant John Kyle Bores
13:02.8
and his 27-year-old female co-pilot
13:05.8
Ensign Izalyon Atacad.
13:08.2
Natagalan mam i-rescue kasi yung pilot na si Lieutenant Bores
13:15.4
is naipit ng windshield ng helicopter.
13:19.6
So, bumalok yung windshield.
13:22.6
Doon po sila tumama.
13:23.7
Doon po sila tumama.
13:24.3
Doon po sila tumama.
13:24.8
Doon po sila tumama.
13:25.0
So, severe po yung head injury
13:26.8
ng mga piloto natin.
13:29.6
Tapos, yung katawan nila
13:32.0
heavily injured po.
13:34.7
Sa isa taas po nung binagsakan.
13:36.8
Some witnesses say
13:38.3
they heard the helicopter's engine
13:40.4
sputtering before it eventually crashed.
13:44.3
Parang palyado po.
13:46.7
Yung narinig ko po yun,
13:48.3
sumabit po sa kanya po yung
13:49.6
helice niya po sa puno.
13:52.6
tinilit po talaga po ng
13:54.8
diretso sa dagat.
13:56.0
Hindi po ko inaya.
13:57.1
Dito na po bumaksa.
13:58.3
Para po siyang palyado
14:00.4
Bulok, bulok, bulok, bulok.
14:01.6
Balibali ho yung mga ipil eh.
14:03.3
Nasagin muna yung ipil.
14:05.0
Siguro yung pilot noon
14:06.1
hinahanap ng magandang landing.
14:08.4
Eh, nung bumanggana,
14:09.4
pagkatapos na sa inyong ipil,
14:11.4
sumub-sub na kagad doon sa
14:14.3
Doon kagad siya sumub-sub.
14:15.9
Baka bigla na humusok.
14:17.1
According to the Philippine Navy,
14:18.7
the R-22 Robinson helicopter
14:20.8
took off from Sangli Airport,
14:23.0
carrying the two victims who were on a trip.
14:24.8
They had to make an emergency landing
14:28.0
but it crashed near the
14:29.4
Cavite City Public Market.
14:31.6
The male pilot was rushed
14:32.9
to the Cavite Medical Center
14:34.4
but was declared dead on arrival.
14:37.5
The female co-pilot died
14:38.8
while being treated at the Bautista Hospital.
14:42.3
The Philippine Navy
14:43.2
emphasized that their aircraft
14:44.9
undergo regular inspection
14:48.1
Authorities are investigating the possible cause
14:52.2
Rayo Capulong, ABS-CBN News.
14:54.8
Fugitive Philippine televangelist
14:58.0
Apolo Quiboloy is the target
14:59.8
of another arrest warrant.
15:01.6
The pastor and five of his associates
15:03.4
are accused of qualified human trafficking.
15:06.6
Willard Cheng reports.
15:09.2
The Pasig Regional Trial Court
15:11.2
Branch 159 ordered that warrants
15:13.4
of arrest be issued against
15:15.2
Kingdom of Jesus Christ founder
15:16.9
Pastor Apolo Quiboloy and his five
15:19.1
other co-accused for their case
15:21.2
of qualified human trafficking.
15:23.3
The case was filed by the
15:24.5
Department of Justice
15:25.8
last March 18 in Pasig
15:27.9
where the alleged crime was committed.
15:30.6
In an order dated April 11
15:32.3
and signed by Acting Presiding Judge
15:34.5
Reynelda Estacio Montesa,
15:36.8
the court denied the accused's motion
15:38.6
to defer or suspend proceedings
15:40.6
and stopped the issuance of warrant
15:42.5
of arrest, saying it was a prohibited
15:44.7
motion. The court also found
15:46.8
probable cause for the arrest of
15:48.6
all the accused. Quiboloy's camp
15:50.6
had argued that a motion for reconsideration
15:52.5
is still pending with the
15:54.4
Secretary of Justice.
15:56.2
But the court agreed with the prosecution's
15:58.5
response that it is not one of the
16:00.6
grounds stated in the Rules on Criminal
16:02.7
Procedure to suspend an arraignment.
16:05.5
The Department of Justice
16:06.9
welcomed the court's order.
16:08.9
In a statement, Justice Secretary
16:10.8
Jesus Crispino Remulia said
16:12.4
this is already the second wave of arrest
16:14.7
warrants issued against Quiboloy.
16:17.1
Following the arrest order issued
16:18.6
by the Davao City Regional Trial Court
16:20.6
Branch 12 on his child and
16:22.7
sexual abuse cases.
16:24.4
The DOJ also pointed out
16:26.3
the qualified human trafficking case of
16:28.4
Pastor Quiboloy involves a
16:30.4
non-bailable offense.
16:32.6
Quiboloy's lawyer has yet to respond
16:34.3
to the passing RTC's order.
16:36.7
But in an interview with ANC's
16:38.6
Head Start Thursday morning,
16:40.2
Attorney Isnaelito Torreon said they will
16:42.4
be filing a motion to quash the
16:44.3
warrant of arrest against Quiboloy
16:46.0
in his child and sexual abuse cases
16:48.3
before the Davao Regional Trial Court.
16:52.1
Quiboloy cannot be considered a fugitive.
16:54.4
Yet, contrary to the statement
16:56.5
of the National Bureau of Investigation.
17:24.4
Torreon assured authorities
17:26.5
Quiboloy is still in the Philippines
17:28.3
adding that the pastor may actually be
17:30.4
open to extradition to the US
17:32.3
where he is facing charges of
17:34.2
sex trafficking by force, fraud
17:36.2
and coercion and bulk cash
17:39.6
As a matter of fact, pastor Apolo C. Quiboloy
17:41.9
may not be totally against an extradition
17:44.2
process. What he fears
17:46.2
is the illegal practice
17:48.3
of extraordinary rendition.
17:50.9
I cannot state for certain
17:52.4
if he will agree to this.
17:54.4
But in my previous
17:57.1
discussion with him,
17:59.2
well, if extradition may be
18:01.0
but extraordinary rendition
18:05.0
The Senate Sergeant-at-Arms
18:06.8
has yet to locate Quiboloy in Davao
18:08.7
as he tried to carry out the body's
18:10.8
arrest order against the pastor
18:12.4
for skipping hearings called by the
18:14.8
chamber. Willard Cheng,
18:20.8
Hamas admits it cannot
18:22.5
produce the 40 hostages'
18:24.4
needed for the first phase of a
18:26.3
ceasefire deal with Israel.
18:28.4
More stories when the world tonight returns.
18:54.4
We'll be right back.
19:24.4
We'll be right back.
19:54.3
It is unable to turn over 40 of its
19:56.4
hostages in exchange for a truce
19:58.4
with Israel. This revelation
20:00.3
was reported by CNN, which
20:02.3
cited an Israeli official and a
20:04.4
source familiar with the truce negotiations.
20:07.1
This has raised fears that
20:08.3
more Hamas hostages than was publicly
20:10.2
known may have died in captivity.
20:13.1
A proposed six-week truce
20:14.5
requires Hamas to free its hostages
20:16.5
while Israel releases a hundred
20:18.4
Palestinian prisoners.
20:20.2
The Israeli Prime Minister's office says
20:22.3
33 of the 129 hostages
20:24.3
of Hamas are already
20:30.2
airstrike in Gaza kills three
20:32.2
sons of Hamas leader Ismail
20:34.9
Haniye. The Israeli
20:36.6
military described Haniye's
20:38.6
sons as Hamas operatives,
20:40.6
but it could not confirm reports
20:42.5
that four of Haniye's grandchildren
20:44.2
were also killed. Relatives
20:46.4
say the airstrike targeted a
20:48.2
Haniye family reunion during
20:50.5
the Islamic Eid al-Fitr holiday.
20:54.3
A controversial law passed by
20:56.4
Ukraine's parliament aims to boost
20:58.1
the number of soldiers fighting Russian
20:59.9
invaders. The controversial law
21:02.0
changes the current recruitment process
21:04.0
by enabling the issuance of draft
21:06.2
notices through an electronic system.
21:08.7
A provision which ends a
21:10.0
soldier's tour of duty after 36
21:11.9
months was removed from the measure.
21:14.6
The law was passed as Russia
21:16.0
increased its attacks on Ukraine's
21:17.9
energy infrastructure.
21:21.5
A prominent Vietnamese businesswoman
21:24.0
is sentenced to death for plunder.
21:26.1
A Vietnamese court found
21:28.0
property tycoon Jung Me Lan
21:30.1
guilty of siphoning over
21:32.0
12.5 billion U.S. dollars
21:34.3
from the Saigon Commercial
21:36.1
Joint Stock Bank. The funds
21:38.3
were funneled through thousands of ghost
21:40.2
companies. It is the country's
21:42.1
largest financial fraud case
21:44.2
on record. Lan has
21:45.9
15 days to appeal the verdict.
21:49.7
One person is killed and five
21:52.1
others wounded by two gunmen who
21:54.0
opened fire on a crowd in
21:55.5
northeast Washington, D.C.
21:57.5
Authorities have yet to determine
21:59.0
the motive for the attack.
22:01.1
Our preliminary investigation indicates
22:03.5
the suspects exited a vehicle and
22:05.4
began shooting at people that were
22:07.1
outside here in the neighborhood.
22:09.0
Our real-time crime center began investigating
22:11.3
and provided images from cameras
22:13.4
in the area to aid in this investigation.
22:15.9
Those vehicle images have been
22:17.2
pushed out on our social media page.
22:24.0
The Asian Development Bank
22:29.5
lowers its growth forecast
22:31.4
for the Philippines this year.
22:33.2
From 6.2, the ADB now
22:35.4
expects the Philippine economy to
22:39.0
It cites upside risks to
22:41.1
inflation for the slight revision.
22:43.3
It says extreme weather events will
22:45.2
affect agricultural production
22:54.0
Despite the downgrade, the ADB
23:21.4
still sees the Philippines to be among
23:24.0
growing economies in the region.
23:28.1
Growth has remained robust,
23:30.2
driven by domestic
23:32.1
demand, consumption,
23:36.4
as well as, I think, services
23:37.9
sectors continue to be very resilient.
23:42.1
The Philippine unemployment rate
23:44.1
drops to its second lowest level
23:45.9
in nearly two decades.
23:47.5
But the government now needs to entice
23:49.9
workers to rejoin the workforce.
23:52.2
Jackie Pascual tells us why.
23:54.0
The Philippine Statistics Authority records
23:57.8
the second lowest jobless rate
23:59.9
in almost two decades.
24:02.0
The agency says unemployment rate
24:07.5
or equivalent to 1.8 million
24:09.9
Filipinos without work.
24:11.8
This is lower than the
24:13.4
2.15 million jobless Filipinos
24:17.2
2.47 million in February
24:21.3
Underemployment rate also dropped to 12.4%
24:26.4
the previous month.
24:27.9
February 2024, the opening
24:30.1
of classes in Kuleyok
24:34.0
nagkaroon ng opportunity
24:38.3
activities. Nagkaroon tayo
24:41.3
season, o di kaya harvesting
24:44.3
kaya nagkaroon tayo
24:46.1
ng mga employment
24:49.5
Wholesale and retail trade as well as
24:51.8
agriculture and forestry,
24:54.0
opened over a million new jobs each
24:56.3
compared to the previous month.
24:58.4
Accommodation and food service
24:60.0
also opened new jobs and
25:01.9
that's expected to continue as
25:04.0
hotels and resorts become in demand
25:06.3
due to the high heat index.
25:09.0
Substantial din yung dagdag
25:10.4
doon sa accommodation and food service
25:12.1
activities, mga 325,000
25:17.9
It is of course dahil mayroon tayong
25:22.3
Malaki ang contribution naman
25:26.5
lalo na itong mga panahon na to
25:29.4
naghahabol tayo doon sa bagong
25:33.7
This job fair in Quezon City has
25:35.7
500 job vacancies in various
25:38.3
fields, attracting hundreds of
25:40.4
job applicants, a sign
25:42.2
organizer says, of an improving
25:46.2
Hindi mawawala yung call center.
25:48.0
Hindi masyadong mawawala. It's a trend.
25:54.0
HRM, madami. It's because
25:56.1
maraming yung nagbubukas na hotels
25:58.0
and resorts. Nag-offer ng
26:00.1
from blue-collar,
26:04.3
to managerial levels,
26:06.1
supervisor, area manager.
26:10.7
says the labor force participation
26:12.3
in general has dropped
26:16.3
Filipinos with work compared
26:21.7
Karamihan dito ay nagsabi na,
26:24.0
ah, household family
26:26.0
duties, ito yung pinakamataas
26:28.0
at pangalawa yung schooling
26:29.8
na nagdagdag ng mga 400
26:33.5
The National Economic and Development Authority
26:35.8
also says the government will prioritize
26:37.9
to encourage the workforce participation
26:42.4
older people, and those
26:43.9
with disabilities by giving them
26:45.9
easier access to employment
26:47.6
or entrepreneurial opportunities.
26:50.7
NEDA also plans to explore
26:52.1
the potential of part-time work,
26:54.0
work-from-home setup,
26:55.8
and other alternative work modes
26:57.5
to help citizens retool
27:01.2
Jackie Pascual, ABS-CBN News.
27:05.0
Philippine investors
27:06.3
pull back at the resumption
27:07.9
of trading Thursday as they
27:09.9
digest the latest job sprint
27:11.5
and a lower economic growth forecast.
27:14.5
Michelle Ong reports.
27:18.3
dropped across Asia led by
27:20.0
Hong Kong and Australia, mirroring
27:22.0
Wall Street's overnight move as hotter than
27:23.9
expected inflation print for March.
27:26.1
Reinforce the view, the Fed will
27:27.8
keep rates higher for longer.
27:30.4
For the day, the PSE index
27:31.7
tumbled back to the 6,600 level,
27:33.8
down 1%, as net foreign
27:35.7
selling hit a quarter of a billion.
27:39.6
I think we're still good so far.
27:42.4
The technicals are holding up.
27:43.8
The fundamentals are holding up.
27:46.0
This is likely just a knee-jerk
27:47.9
reaction. Again, it's quite
27:49.9
overdone in my opinion.
27:51.9
So I'm still a buy-and-dips
27:53.9
kind of guy and I think this is
27:55.8
the dip that we're talking about.
27:57.5
So just a bit more cautious
27:59.9
trading but still
28:01.9
be optimistic for the rest of the year.
28:04.6
In corporate stories,
28:06.1
Mondanissian Post's record
28:07.7
consolidated revenue for the full year
28:12.0
to 80.2 billion pesos,
28:14.6
driven by broad-based
28:15.7
APAC-branded food and beverage volume
28:17.6
growth, which offset the softness
28:19.7
in the meat alternative business under the
28:21.6
Corn Foods brand. In all,
28:23.9
poor net income attributable to shareholders
28:25.9
of parent hit 7.6
28:27.9
billion. However, if you include
28:30.1
one-offs, reported net loss
28:31.8
for the full year was at 625
28:34.0
million, mainly due to
28:35.9
a non-cash, non-operating impairment
28:37.9
of assets in the meat alternative
28:39.6
business. Meanwhile, the company behind
28:42.0
Lucky Me Noodles and Sky Flakes will
28:43.8
be reallocating unused IPO proceeds
28:47.8
million pesos to CapEx this
28:49.8
year for its APAC-branded food
28:51.9
and beverage business. Still in
28:53.9
earnings, Balay ni Frutas, which is behind
28:55.8
Balay Pandesal, Buko ni Frutas
28:58.1
and Frutas House of Desserts,
28:59.8
reports a 58% jump
29:01.9
in 2023 net income
29:03.7
to 59 million pesos
29:05.8
as revenue jumped just as much
29:07.9
to over half a billion pesos.
29:10.2
The company says Balay
29:11.7
outperformed all other food service firms
29:13.8
listed on the Philippine Stock Exchange
29:16.0
in terms of both revenue growth
29:17.8
and net income margin for 2023
29:19.8
despite inflationary pressure.
29:22.7
How? Through limited
29:23.9
price increase and a shift in product
29:26.0
mix towards higher margin
29:27.7
products. It also notes improved
29:29.7
food traffic, store network expansion,
29:32.5
repeat customers, and the introduction
29:34.0
of new products on the menu.
29:36.2
Michelle Long, ABS-CBN News.
29:40.1
word tonight is a quote from Winston
29:42.0
Churchill. There is at least
29:44.1
one thing worse than fighting
29:46.0
with allies, and that is to fight
29:51.6
And that is The World Tonight, the 11th
29:55.7
I'm Pia Duchesne. I'm Tony
29:57.6
Velasquez from the Philippines.
29:59.6
Thank you. Mabuhay!
