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The World Tonight Livestream | Full Episode Replay | April 12, 2024
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00:00.0
Tonight, the U.S., Philippine, and Japanese leaders bow deeper economic and defense cooperation
00:05.7
amid China's dangerous actions in the South China Sea.
00:10.8
Former Philippine President Duterte urges his fugitive spiritual advisor, Apollo Kibuloy, to surrender to authorities.
00:19.6
The U.S. and France issue travel restrictions for their citizens in Israel, citing a potential attack from Iran.
00:27.0
And controversial U.S. athlete and actor, O.J. Simpson, dies of cancer at the age of 76.
00:53.0
Good evening, I'm Tony Velasquez.
00:55.2
And I'm Pia Gucherez.
00:56.1
And I'm Tony Velasquez.
00:56.4
And I'm Pia Gucherez.
00:56.5
And I'm Tony Velasquez.
00:56.6
And I'm Pia Gucherez.
00:56.6
And I'm Tony Velasquez.
00:57.0
On broadcast tonight, a commitment by the U.S., the Philippines, and Japan to further deepen maritime and security cooperation.
01:05.0
This comes at the conclusion of their landmark trilateral summit at the White House.
01:09.9
Katrina Domingo is in Washington with tonight's top story.
01:15.7
The Philippines, Japan, and the United States will work to build an open and free Indo-Pacific.
01:21.0
This is what President Joe Biden told his Filipino and Japanese counterparts during their first trilateral summit,
01:26.3
where Manila, Tokyo, and Washington condemned China's illegal and dangerous actions in the South China Sea.
01:32.4
A great deal of history in our world will be written in the Indo-Pacific over the coming years.
01:38.0
As the three allies, three steadfast partners, and three proud democracies representing a half a billion people,
01:46.3
today we commit to writing that story and the future together.
01:51.2
To building an Indo-Pacific that is free, open,
01:56.3
prosperous, and secure for all.
01:59.9
Among the initial steps to achieve this goal, the conduct of more combined naval and maritime exercises.
02:06.4
Washington is expected to train some American, Filipino, and Japanese personnel aboard a U.S. Coast Guard vessel this year,
02:12.7
while fresh drills will be held around Japan in 2025.
02:16.5
Biden also reiterated a stipulation from the Mutual Defense Treaty that the U.S. will come to the aid of its allies in the event of an armed attack.
02:25.1
The United States Defense...
02:26.3
The United States' commitments to Japan and to the Philippines are ironclad.
02:31.3
Any attack on Philippine aircraft, vessels, or armed forces in the South China Sea would invoke our Mutual Defense Treaty.
02:41.2
Philippine President Ferdinand Marcos adds this closer cooperation involving the three countries will help secure a safer future for the region.
02:48.9
It is a partnership born not out of convenience nor of expediency, but as a natural progression,
02:56.3
of a deepening relation and robust cooperation amongst our three countries,
03:02.5
linked by a profound respect for democracy, good governance, and the rule of law.
03:09.1
For Japanese Prime Minister Humio Kishida, it is very natural for the Philippines, Japan, and the U.S. to become allies as the three countries adhere to the rule of law.
03:18.5
In the midst of compound crisis faced by the global community,
03:24.2
multi-layered cooperation between...
03:26.3
allies and like-minded countries is essential if we are to maintain and bolster a free and open international order based on the rule of law.
03:36.5
Today's meeting will make history as an occasion that significantly pushed forward such initiative.
03:44.8
The three allies will also launch humanitarian assistance and disaster response exercises in the future.
03:50.1
Despite this show of force from the trilateral summit, China continues to insist that Manila should seek Beijing...
03:56.3
permission before bringing fresh supplies to soldiers stationed in the Ayungin Shoal.
04:01.4
The Chinese Embassy in Manila, for its part, says the U.S. is not a party to the South China Sea issue and is not in the position to interfere in issues between Manila and Beijing.
04:10.6
It adds the recent tension in the South China Sea would not have occurred without the U.S. egging on the Philippines.
04:17.2
On the economic front, Tokyo and Washington have agreed to help Manila build the Luzon Economic Corridor, a series of development projects that will link Subic, Clark, Manila,
04:26.3
and Batangas.
04:27.4
Japan and the U.S. will also allot
04:29.0
some 8 million U.S. dollars
04:30.2
to establish an Open Radio Access Network
04:32.7
or ORAN system,
04:34.0
which will make communications
04:35.0
in the Philippines more secure and reliable.
04:37.9
Efforts will also be made
04:39.0
to boost the Philippines' safe and peaceful use
04:41.3
of nuclear energy
04:42.3
and the semiconductor industry
04:43.9
through the training of Filipino personnel
04:45.8
and specialty institutions
04:47.3
in Japan and the U.S.
04:50.8
While the first trilateral summit
04:52.7
was well-received inside the White House,
04:54.7
some groups trooped outside the U.S.'s seat of power
04:57.8
in protest of Marcos Jr.'s alleged compliance
05:00.4
to sell the Philippines to foreigners.
05:03.6
The trilateral summit has been described
05:05.3
as historic and the first of its kind
05:07.3
for the Philippines.
05:08.4
But one question still remains
05:10.2
on how the operational details of these deals
05:13.2
would actually affect Filipinos on the ground.
05:16.3
Katrina Domingo, ABS-CBN News, Washington, D.C.
05:21.3
Former Philippine President Rodrigo Duterte
05:23.9
admits his administration
05:25.4
had a deal with China
05:27.3
to maintain the status quo
05:29.1
in the West Philippine Sea.
05:30.8
But he denies giving up
05:32.3
any Philippine territory to Beijing.
05:34.7
The details from Zen Hernandez.
05:38.7
Philippine resupply vessels
05:40.6
have suffered countless times
05:42.7
from dangerous maneuvers
05:44.4
and water cannon attacks
05:45.8
from China Coast Guard
05:47.3
and its militia vessels
05:48.5
in the West Philippine Sea.
05:50.8
But every single time,
05:52.1
China would invoke
05:53.9
certain understanding
05:55.1
with the Philippines
05:56.0
while insisting
05:57.5
that sending construction materials
05:59.6
to BRP Sierra Madre
06:01.0
is a repudiation
06:02.6
of the latter's promise.
06:04.6
In an interview with ABS-CBN News
06:06.9
on March 27,
06:08.9
former presidential spokesperson
06:10.4
Harry Roque
06:11.1
claimed that the said understanding
06:13.9
pertains to a verbal status quo agreement
06:17.0
which he also described
06:18.8
as a gentleman's agreement
06:20.5
between former President Rodrigo Duterte
06:23.0
and China Coast Guard.
06:23.9
President Xi Jinping.
06:25.7
Duterte asserts
06:27.2
Roque was never part
06:28.7
of his talks with China
06:29.9
but he admits
06:31.3
he agreed to a status quo.
06:34.2
Aside from the fact
06:35.7
of having a handshake
06:38.4
with President Xi Jinping,
06:42.5
the only thing I remember
06:44.8
was that status quo.
06:48.8
That's the word.
06:50.1
Na walang galawan.
06:51.4
No movement.
06:53.9
No armed patrols there.
06:59.9
And I assure you
07:02.5
that if it was a gentleman's agreement,
07:07.7
it would always have been
07:09.3
an agreement
07:13.0
that would keep the peace
07:15.6
in the South China Sea.
07:18.8
Verbal.
07:20.3
Walang written, written.
07:21.5
The former president emphasized
07:23.9
however,
07:24.6
that the status quo agreement
07:26.0
was no secret
07:27.3
and that he did not give up
07:29.1
any Philippine territory
07:30.6
in the process.
07:32.6
Let me be very clear on this.
07:37.3
We have not conceded anything
07:39.8
to China.
07:41.8
Of course we are being oppressed
07:43.2
by China.
07:45.0
There's no doubt about it.
07:46.5
If China will decide
07:48.0
to erect
07:49.5
a naval base there,
07:53.9
in the island nearest us,
07:58.3
can you stop it?
07:60.0
Problema sa'yo, Justice Carpio,
08:01.5
hindi ka na give precedente.
08:03.5
Duterte also explained
08:05.3
that right from his first state visit in China,
08:08.5
Chinese President Xi Jinping
08:10.0
already gave a warning
08:11.7
which was overheard
08:13.2
by the cabinet secretaries
08:14.7
included in his delegation.
08:17.1
That warning will become
08:19.1
the overarching theme
08:21.1
for Duterte's pronouncements and actions
08:23.7
in the management
08:24.7
of the Philippines' maritime dispute
08:26.8
with China.
08:27.9
I said, Mr. President,
08:30.9
we would insist that
08:34.3
that China say,
08:37.6
or not the whole of it,
08:40.2
but there is a part of the China say
08:42.3
that belongs to the Philippines.
08:44.8
I will dig my own point there.
08:48.2
I just want to let you know.
08:51.2
Ito ang sagot ni Xi Jinping.
08:53.7
I am afraid you cannot do that
08:59.9
sabi niya,
09:00.8
because it would be in trouble.
09:04.5
Ang pakaitindi ko pag sabi niya,
09:06.5
there will be trouble
09:07.4
if we insist on our own way there,
09:12.8
China will go to war.
09:14.8
Atty. Harry Roque confirmed
09:16.5
he found out about the said agreement
09:18.8
even before he was spokesperson
09:20.7
for the President.
09:21.6
He also agrees,
09:23.1
it is non-binding
09:24.4
to the current administration.
09:26.8
Hindi siya tratado
09:27.7
na binding sa Estado.
09:30.6
Binding lang yan doon
09:31.4
sa mga nakipag-usap.
09:33.3
Yan ay unang inisirap publiko
09:35.6
ni Secretary Delphine Lorenzana
09:37.5
nung ako'y congressman pa
09:38.7
sa Committee on Appropriations
09:41.3
ng Department of National Defense.
09:43.6
Talagang dinatnan ko na yan
09:44.9
kasunduan na yan
09:45.9
nung ako po'y naging spokes.
09:47.5
During the trilateral summit
09:49.3
of the U.S., Philippines, and Japan
09:51.3
in Washington, D.C.,
09:52.2
the U.S. reaffirmed its commitment
09:54.9
to the Mutual Defense Treaty
09:56.9
that expressly indicates
09:58.6
U.S. support in the event
10:00.7
of an armed attack
10:02.1
against Philippine Armed Forces,
10:04.0
its vessels,
10:05.1
including the Coast Guard.
10:06.7
But former President Duterte
10:08.2
does not trust this U.S. commitment.
10:11.6
He also dared President
10:13.0
Ferdinand Marcos Jr.
10:14.6
to defy China.
10:16.2
So sabihin ko sa Amerika,
10:19.0
if you are interested
10:20.3
really in the U.S.,
10:21.7
you can do it.
10:21.8
You can do it.
10:21.9
You can do it.
10:21.9
You can do it.
10:22.0
You can do it.
10:22.2
You can do it.
10:22.3
You can do it.
10:22.3
If you are interested
10:22.5
in defending
10:23.1
the Philippines,
10:25.2
bakit ka pa maghihintay
10:27.9
magkaroon ng gira?
10:29.4
Why don't you go there?
10:31.2
Kaya ito sabi ko
10:32.4
kay Marcos,
10:33.3
stop complaining
10:34.8
and expounding on it.
10:37.3
I challenge them
10:38.7
na sinaman mo na
10:40.5
sa gobyerno ngayon,
10:42.2
di i-repair nila
10:43.4
at gumawa sila doon
10:45.6
ng mga bahay-bahay
10:46.7
kung saan.
10:48.7
If they are really
10:49.9
ready
10:50.9
to do this,
10:52.0
For that, gawain na nila ngayon ang gusto nilang gawin.
11:00.0
Ipatrol na nila yung Philippine Navy, the gray ships, and let us see what happens.
11:08.6
PCG spokesperson for the West Philippine Sea, Com. Jay Tariella admits,
11:13.3
the Duterte administration had a defeatist mindset when it comes to Manila's maritime row with Beijing.
11:19.9
This time around, under the Marcos Jr. presidency, Tariella said the Coast Guard is determined to expose China's aggressive actions.
11:29.1
He adds, this initiative has led to more international support.
11:34.3
Because during the past administration, since we never publicized the harassment and the illegal presence of the Chinese forces,
11:44.3
there is no reason for them to increase their deployment of vessels.
11:49.9
Because in short, they don't have to coerce our government from preventing us to maintain our presence in the West Philippine Sea.
11:58.6
Because we have already that defeatist mind of thinking na we don't need to deploy our vessels dahil magkakagela.
12:07.2
But for this administration, for President Bongbong Marcos, we have intensified the transparency.
12:14.3
We exposed the illegal presence of the Chinese.
12:17.3
We tell the international community about the harassment.
12:19.9
We keep on documenting the damage to the environment.
12:25.5
In a statement, China's embassy in the Philippines asserts that Philippine resupply missions to Ayungin Shoal should only include living necessities such as food.
12:35.9
It also insists on prior notification and on-site verification from China, along with an expectation for the vessel to be eventually towed away.
12:46.5
It firmly said as well, it will not accept.
12:49.9
It is also insisting on prior notification and on-site verification from China, along with an expectation for the vessel to be eventually towed away.
12:50.0
It also insists on prior notification and on-site verification from China, along with an expectation for the vessel to be eventually towed away.
12:50.0
It also insists on prior notification and on-site verification from China, along with an expectation for the vessel to be eventually towed away.
12:50.1
Sending large amounts of construction materials to BRP Shera Madre and vowed to stop it.
12:56.8
Zen Hernandez, ABS-CBN News.
13:01.5
The Philippine Climate Change Commission blames China and Vietnam for causing irreparable damage to the marine biodiversity of the West Philippine Sea.
13:11.5
It says this has endangered Philippine food security and the livelihood of Filipino fishermen.
13:17.4
Ara Perez reports.
13:20.9
Unimaginable and irreparable. This is how the Climate Change Commission describes the extent of damage to over 12,000 hectares of marine biodiversity in the West Philippine Sea due to various reclamation activities in the area.
13:35.5
Commissioner Albert De La Cruz says the estimate is based on reports that they have received.
13:40.3
We can attribute it to the whole anthropogenic activity within the West Philippine Sea, but as we very well know, more than 8,000 of which is attributable to the activities of China.
13:52.5
And also with activities of Vietnam specifically, ang Pilipinas po ho, wala pa ho siguro doon sa isang libo or even 500 hectares.
14:02.4
De La Cruz also shares coral reefs which provide food and shelter to sea creatures along with their eggs have been severely damaged.
14:10.3
The Commissioner says it could have a domino effect on surrounding areas.
14:27.5
He cites specific activities that ruin marine biodiversity like massive reclamation, illegal fishing, poaching and marine quarrying.
14:40.3
At muna na yan, yung coastal area natin, 60% of our LGUs are within the coastal community.
14:47.1
That is why babagsa ang ating coastal area. Why?
14:54.6
Kasi yung puti na nakikita natin, nakikita nyo kapag nag-beach kayo, mayroong mga ganito kalaki ng mga corals, yun yung mga nagretiro ng corals.
15:03.5
De La Cruz points out, one-third of the Philippines' biodiversity can be found in the West Philippine Sea.
15:10.3
The country's food security is also affected.
15:13.6
He says, fishermen can file cases before the Human Rights Commission since their livelihood is affected due to damage to marine life.
15:21.9
They can file case simply because they can no longer do what they're doing before.
15:29.2
Dati silang makakapangisda, then na-restrict yung kanilang movement.
15:33.1
Dati silang may hanap buhay, na-restrict yung hanap buhay.
15:36.4
That is against international law.
15:38.1
That is against international law insofar as human rights is concerned.
15:41.4
Now, anybody among them may file a case before the Higher Commission on Human Rights or before the Philippine Commission on Human Rights.
15:52.2
Meanwhile, an official of the Philippine Coast Guard is urging Filipinos to call out those spreading false information on social media.
15:59.6
Kung ikaw ay nakakita ng maling informasyon sa Facebook, sa Instagram, sa Twitter,
16:08.1
I think the most important and patriotic duty na may kukontribute mo sa laban natin sa West Philippine Sea,
16:15.0
please care to comment and call out na itong ipinose ng isang jognalista na to,
16:21.3
or ng isang troll na to, or isang influencer na to, ay maling informasyon.
16:26.4
The Philippine Coast Guard says it will continue its transparency strategy in disputed waters to expose China's aggressive actions.
16:38.1
Yes, CBN News.
16:40.5
Former Philippine President Rodrigo Duterte denies he's harboring fugitive televangelist Apollo Kibuloy.
16:48.2
Duterte suggests that authorities look at possible locations where his spiritual advisor may be hiding.
16:55.3
We have this report.
16:58.0
Former President Rodrigo Duterte denies coddling his spiritual advisor and Kingdom of Jesus Christ leader Apollo Kibuloy,
17:05.8
who is wanted for human trafficking and sexual abuse.
17:08.1
Duterte says he will not accept if Kibuloy surrenders to him.
17:13.2
Okay, Pastor, Pastor, ikaw naman ang wanted.
17:17.0
Kung ako ang damagin dito.
17:20.1
Look, I'm in, mukayin ako.
17:23.5
Sa'yo ako, mabuhay ako.
17:25.0
Sa'yo matayo doon.
17:28.3
And if you can't find Kibuloy there, I'm raising the ante.
17:36.8
I'm making $200.
17:38.1
Or $300.
17:41.5
Or even $500.
17:43.4
In his press conference in Davao City Thursday, Duterte even revealed Kibuloy could be hiding at Kingdom of Jesus Christ properties
17:51.1
in Barangay Tamayong in Kalinan District, Davao City.
17:55.5
Authorities have been to the Tamayong property to look for Kibuloy but failed to find him.
18:00.7
Ang Tamayong malaki yan sa loob maraming bahay.
18:04.6
Make sure na sa isang bahay nandiyan siya.
18:10.5
Because for every bahay, it should be a different search.
18:17.5
Duterte says Kibuloy could also be hiding at the KOJC compound in Bohangin District near the Davao International Airport.
18:26.3
Duterte gave an advice to the controversial televangelist.
18:29.9
As a lawyer, I would say that,
18:34.6
you can go to court and fix your case and post a bail bond.
18:41.1
But if you just, you do not think that you will get a fair deal with this administration.
18:52.2
Huwag kang lumabas dyan sa Tamayong.
18:55.1
Meanwhile, Duterte explained his role as an administrator of the Kingdom of Jesus Christ properties.
19:01.1
Administrator and administrator around.
19:04.6
Ngayon, probably in my name, somebody has to see the over, see the management of the kingdom.
19:13.4
To preserve the kingdom, not to go into waste.
19:21.0
Sayang nandiyan yan. Kingdom of God, yan.
19:26.1
A regional court in Pasig has ordered the arrest of Kibuloy in connection with a qualified human trafficking case,
19:33.5
a non-bailable offense.
19:34.6
He also has arrest warrants issued by a Davao court for child abuse and sexual abuse of a minor.
19:42.7
An arrest order by the Senate Sergeant at Arms for skipping a committee investigation has also been served to Kibuloy's lawyer.
19:51.2
Meanwhile, the Justice Department has asked the Supreme Court for the transfer of the Davao City cases of Kibuloy to Pasig City.
19:59.1
Kung sakaling mahanap nila si Pastor Kibuloy,
20:03.2
ay dapat i-transport siya.
20:04.6
Dito sa Manila, no, at dito siya madi-detain upang humarap sa kaso niya sa Pasig.
20:12.4
The amended Public Services Act of the Philippines is rejected by an ex-Supreme Court magistrate as unconstitutional.
20:20.4
Former Associate Justice Antonio Carpio claimed in a student forum that lawmakers passed the law after they were enticed by then-President Duterte with pork barrel funds.
20:30.2
The law allows full foreign ownership of businesses in select industries.
20:34.6
Such as airports and telecommunications.
20:37.4
Carpio warns of adverse economic repercussions from this law, which has been challenged in a taxpayer's lawsuit filed with the Supreme Court.
20:46.9
If the Supreme Court will say unconstitutional, what happens to their investments here?
20:52.4
I think it will take us decades to recover from this blunder.
20:59.0
Foreign investors will not come in because they fear that there is no rule of law here.
21:05.2
And our foreign direct investments will go down further.
21:09.4
You know, this is the fault of Duterte because he said,
21:12.5
pass the amended Public Services Act, otherwise you will have no pork barrel.
21:21.5
Carpio's allegations against Duterte are rejected by the former President's spokesperson as fallacious and malicious.
21:27.9
Salvador Panelo insists Carpio has no proof that Duterte interfered in the functions of Congress.
21:34.6
Singapore's Foreign Minister will make a two-day official visit to Manila next week.
21:41.7
Vivian Balakrishnan will arrive Monday.
21:44.6
He will meet with his Philippine counterpart, Enrique Manalo, to discuss ways to strengthen bilateral ties.
21:51.0
They will also talk about regional and international issues.
21:55.1
Balakrishnan's visit is timed to mark the 55th anniversary of Philippine-Singapore diplomatic relations.
22:01.7
His trip will also build on...
22:04.6
...informal talks held in February to create a joint action plan of the two countries.
22:12.0
Philippine lawmakers are urged to pass legislation to regulate the country's use of artificial intelligence.
22:18.3
This appeal made by cybersecurity expert Art Samaniego.
22:22.1
He says new laws should address the risks of AI being used for disinformation campaigns during the upcoming election season.
22:29.8
Samaniego warns the evolution of AI technology will make it more difficult...
22:34.6
...to identify manipulated videos and images.
22:39.0
We don't have a comprehensive law that covers all these things.
22:45.1
So wala tayong batas dito. Ito yung, well, danger.
22:50.6
Election is soon coming in the Philippines so this could also be used for disinformation.
22:55.6
So a few months from now, the technology or the technique will be really improved.
23:03.2
So ito ngayon ang...
23:05.0
...delikado sa atin.
23:09.0
Still to come, the U.S. and France issue travel restrictions to their citizens in Israel amid fears of an attack by Iran.
23:17.5
We'll have more stories when The World Tonight returns.
23:34.6
We're back on The World Tonight.
23:52.4
The U.S. and France issued travel warnings for their citizens in the Middle East
23:56.4
amid Iran's threat to attack Israel.
23:59.3
Americans in Israel were advised to restrict travel.
24:02.1
France urged its citizens to absolutely refrain from traveling to Iran, Lebanon, Israel,
24:08.6
and the occupied Palestinian territories.
24:11.2
U.S. Secretary of State Antony Blinken has asked the foreign ministers of Turkey, China, and Saudi Arabia
24:17.0
to convince Iran not to escalate violence in the Middle East.
24:21.2
Iran has blamed Israel for an April 1st airstrike on Tehran's consulate in Syria.
24:26.5
The attack killed a senior Iranian general and six other officers.
24:32.1
Hamas leader Ismael Haniye denies his sons were fighters of the group's armed wing.
24:39.8
His three sons were killed Wednesday in an Israeli strike.
24:45.0
Haniye indicated that their deaths would not derail negotiations for a truce in Gaza.
24:50.5
He says Hamas is still seeking a deal but has not received Israel's response to their demands.
24:56.0
The death of Haniye's sons is seen to complicate efforts to secure the release of hostages
25:02.1
held by Hamas in Gaza.
25:05.7
The FBI seeks more U.S. congressional funding to ensure last month's attack on a concert hall in Russia
25:12.3
won't happen in the U.S.
25:14.3
The Islamic State claimed responsibility for the attack, which killed at least 144 people.
25:22.1
This is a time when we need your support the most.
25:25.3
We need all the tools, all the people, and all the resources required to tackle these threats
25:31.2
and to keep...
25:32.1
Americans safe.
25:34.2
Increasingly concerning is the potential for a coordinated attack here in the homeland
25:39.9
akin to the ISIS-K attack we saw at the Russia concert hall just a couple weeks ago.
25:47.1
We also need funding to counter the threat from the People's Republic of China,
25:52.8
a government sparing no expense in its quest to hack, lie, cheat, and steal its way to the top
26:01.3
as a global superpower and to undermine our democracy and our economic success.
26:10.7
Controversial U.S. celebrity O.J. Simpson dies of cancer at the age of 76.
26:16.4
The American football star and actor was among the best and most popular athletes of the late 1960s and 70s.
26:23.9
But his reputation plunged after he became the prime suspect in the 1994 murders of his ex-wife,
26:31.1
Nicole Brown, and her friend, Ron Goldman.
26:34.3
Simpson was cleared by a Los Angeles jury in what U.S. media called the trial of the century.
26:40.7
But a civil lawsuit found him responsible for Brown's death.
26:44.8
He was later imprisoned for armed robbery and kidnapping.
26:56.4
The Philippine Finance Chief is confident the Marcos Jr. administration may,
27:01.1
at least, achieve its goal of a single-digit poverty rate much sooner.
27:05.1
Ralph Recto says a poverty rate of 9.3% may be reached two years earlier than the government's 2028 target.
27:12.4
Recto says this may become possible due to improvements in the labor market and manageable inflation.
27:17.8
The Marcos Jr. administration aims to lift 14 million Filipinos out of poverty by the end of the president's term.
27:25.1
The Philippine Statistics Authority recorded a poverty rate of 22.4% in the first half,
27:31.1
2023.
27:33.7
The Philippine Stock Exchange
27:35.6
Index ends the shortened
27:37.2
trading week in the red.
27:39.4
Michelle Ong has Friday's market
27:41.3
action.
27:43.4
Equities in Asia traded mixed
27:45.2
on Friday, getting a little bit of support
27:47.2
from the tech-driven rally on Wall
27:49.2
Street. But not for Philippine shares.
27:51.5
The PSE Index continued to slip
27:53.2
now on a seven-day losing
27:55.1
streak. I think the market
27:57.1
has slowly been coming to terms
27:59.4
first with the declining
28:00.9
probabilities of early and
28:03.2
big cuts in rates.
28:05.2
Somehow, PH growth targets
28:07.0
are still neutral at worst.
28:09.1
For the US, the strong economy
28:11.1
continues to surprise, which is
28:13.0
actually the biggest contributor of
28:15.1
the reduced expectation for lower rates
28:17.2
this year. So if what we see
28:19.1
in the PSEI is of any
28:21.1
clue, I think it is the market
28:22.8
possibly telling us that it is discounting
28:25.2
these factors already.
28:27.0
In corporate stories, Visman developers
28:29.4
Cebula and Master successfully
28:30.9
raised 4.3 billion pesos
28:32.9
from selling preferred shares and
28:34.9
oversubscription option shares during its
28:36.8
follow-on offer. Proceeds will be
28:39.0
used for the company's expansion plans
28:40.8
and project developments, while a portion
28:42.8
will also be used for general corporate
28:44.6
purposes. In earnings, Andretens
28:46.9
Global Estate Resource, or GERI,
28:49.2
posts a modest 3%
28:50.9
growth in net income attributable to parent
28:52.9
of 1.8 billion pesos
28:54.9
as consolidated revenues grew
28:56.9
14% to 8.3 billion,
28:59.4
during the full year of 2023.
29:01.8
The integrated tourism
29:02.9
and township builder sites, strong
29:05.0
real estate sales, hotel
29:06.7
and leasing operations.
29:08.9
To date, GERI has nine tourism estates
29:10.9
and integrated lifestyle communities across
29:12.8
the country, covering more than
29:14.5
3,300 hectares of land, including
29:16.8
Twin Lakes in Matangas, Southwood
29:19.1
City in Laguna, and Alabang West
29:20.9
in Las Pinas City.
29:22.5
Michelle Long, ABS-CBN News.
29:25.7
Our final word
29:26.9
tonight is a quote from Henry Ford.
29:29.4
Coming together is a
29:31.1
beginning. Keeping together is
29:33.0
progress. Working together
29:34.8
is success.
29:37.8
And that is The World
29:39.2
Tonight, the 12th of April
29:40.9
2024. I'm Pia Gutierrez.
29:43.3
I'm Tony Velasquez from the
29:45.0
Philippines. Thank you.
29:47.0
Mabuhay!
29:59.4
Mabuhay!