Inflation, rate woes drag shares anew

By Agence France-Presse and Manila Times

HONG KONG: Stock markets struggled on Tuesday on long-running worries over surging inflation and rising interest rates, which overshadowed hopes that China would ease off its regulatory drive against its beleaguered technology giants.

A spike in United States Treasury yields took the wind out of the proverbial sails for Wall Street, with the focus now on the release of US and Chinese inflation data at the end of the week.

Analysts are betting that the Federal Reserve (Fed) would lift borrowing costs by half a point at its next three meetings as officials try to get a grip on runaway consumer prices.

But that is causing discomfort on trading floors as investors fret over the impact on economic growth and firms' bottom lines.

"Inflation concerns are not going anywhere fast," Fiona Cincotta of City Index said. "Rising crude oil prices and a strong labor report have lifted bets that the Fed may need to act aggressively to rein in inflation."

      

SPI Asset Management's Stephen Innes said "investors are hyper-focused on inflation, economic growth and future Fed policy."

Most, he added, "assume the worst and think a financial tsunami [would] hit the US and global markets, thanks to the quorum of US-based bank CEOs (chief executive officers) that have given the gloomy growth narrative their imprimatur. Anything less than that outcome is going to surprise a lot of folks."

Equity markets were mixed in Asia and Europe.

Tokyo rose, helped by a softening of the yen to a two-year low owing to expectations that the Bank of Japan would not tighten monetary policy just as US rates climb.

Shares mixed as chances for rate increases grow

Manila and Jakarta also edged up, but there were losses in Seoul, Singapore, Mumbai, Bangkok, Wellington and Taipei.

Sydney dropped more than 1 percent after the Australian central bank announced a bigger-than-forecast half-point rate hike to quell inflation.

Hong Kong fell and Shanghai ticked slightly higher, even as heavyweights Alibaba and JD.com led a rally among tech firms following a report that China was close to ending a painful crackdown on ride-hailing app Didi Global and restoring its main apps this week. Didi's US-listed notes soared more than 20 percent.

The Wall Street Journal said probes into two other firms — Full Truck Alliance and recruitment platform Kanzhun — were fanning optimism for the sector's outlook after a long period of hefty selling pressure.

Stocks mixed as inflation, rate woes temper rally

"This was seen as a signal that the regulatory crackdown on Chinese tech firms was starting to end... as China focuses on stabilizing the economy following Covid restrictions," National Australia Bank's Tapas Strickland said.

London was flat in early trade, but Paris and Frankfurt fell.

Markets have seen some leveling out in recent weeks as the easing of restrictions in China helps to offset some of the worries about higher rates and the impact of Russia's invasion of Ukraine.

US tech rout, China data drag markets

But market-watcher Louis Navellier warned there was still plenty more volatility to come.

"If history repeats, we could be down tomorrow, then up on Wednesday, then down on Thursday and possibly up on Friday," he said in a commentary.

"So just get used to these up-down, up-down oscillations because they are going to continue," he added.

"I want to remind investors to not get too excited when the market rallies because it is going to continue to oscillate. There is just too much uncertainty out there."

More foreign envoys visit Marcos; find out who they are

National flags of Spain, Germany, and Morocco (Unsplash)

by Ellson Quismorio, Manila Bulletin

Ambassadors from these countries will be visiting President-elect Bongbong Marcos at his headquarters Tuesday morning, June 7 in another series of courtesy calls.

Specifically, the ones who will be meeting in Marcos are Ambassador Jorge Moragas of Spain, Ambassador Anke Reiffenstuel of Germany, and Ambassador Mohammed Ride El Fassi of Morocco.

The courtesy calls from the envoys will take place at the BBM headquarters in Mandaluyong City.

On Monday, June 6, the incoming Philippine leader hosted ambassadors from Italy and Association of Southeast Asian Nations (ASEAN) in separate courtesy calls.

Let’s be responsible of each other

 

By Fr. Roy Cimagala *

WHETHER we are aware of it or not, and despite our differences and conflicts, we all share the same humanity, the same status as creatures of God made in his image and likeness. We are one people, forming one body of which each one of us ought to be a living member, doing a specific role for the good of everyone. We have to care, love and help one another!

That is why we need to be living members, as St. Paul once said. “The body is a unit,” he said, “though it is made up of many parts; and though all its parts are many, they form one body. So it is with Christ. For we were all baptized by one Spirit into one body—whether Jews or Greeks, slave or free—and we were all given the one Spirit to drink.: (1 Cor 12-13)

And the best way to be living and helpful members of the same body is to follow Christ’s indication for each one of us to be “salt and light” to everyone. (cfr. Mt 5,13-16). Christ wants us, like salt, to provide Christian flavor in a world that is fast evolving, as well as help in preserving the true Christian spirit in a world that is so exposed to a lot of changes, many of them with their luggage of dangers even as they also offer a lot of benefits.

We also are meant to give light to the others by giving good examples and by actively doing apostolate, leading people to God along the right if prudent and tortuous and treacherous paths of this world. With rectitude of intention, we have to inspire others to follow us so that with us they can come to Christ.

Let’s make St. Paul’s words ours also: “Be imitators of me, as I am of Christ.” (1 Cor 11,1) These words are a corollary to what Christ said about us being light of the world: “Your light must shine before others, that they may see your good deeds and glorify your heavenly Father.” (Mt 5,16)

Let’s try our best so that we too can echo another of St. Paul’s words: “I no longer live, but Christ lives in me.” (Gal 2,20) This is the ideal to aim at, because Christ himself said, “I am the light of the world…the man who follows me will have the light of life.” (Jn 8,12) 

We can only give the true light if we have the light of Christ, if we are with Christ and so identified with him that whoever sees and hears us sees and hears Christ. (cfr. Lk 10,16)

We have to understand that we have a duty to always inspire others. It’s a most important duty that is actually incumbent on everyone of us, and not just on some special people. We know that we are all interrelated, obviously not biologically that only has a limited scope, but definitely to a large extent, politically, economically, socially, etc. The fact that we all live in the same one world somehow makes us all interrelated.

But there’s actually a more radical basis of our interrelation. And that is that we are all creatures of God, children of his, meant to be the people and the family of God. It is a relationship that is spiritual more than material, forged by a supernatural principle and not just something natural. That’s why we have to care for each other, and be responsible for one another.

* Chaplain Center for Industrial Technology and Enterprise (CITE), Talamban, Cebu City

Email: roycimagala@gmail.com

𝘍𝘳𝘰𝘮 𝘴𝘭𝘪𝘱𝘱𝘦𝘳𝘺 𝘳𝘰𝘢𝘥𝘴 𝘵𝘰 𝘤𝘰𝘯𝘤𝘳𝘦𝘵𝘦 𝘰𝘯𝘦𝘴 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘪𝘯𝘴𝘶𝘳𝘨𝘦𝘯𝘤𝘺-𝘧𝘳𝘦𝘦 𝘉𝘳𝘨𝘺. 𝘓𝘪𝘣𝘢𝘺-𝘭𝘪𝘣𝘢𝘺!

 

Traversing the highland and transporting agricultural commodities would not be a problem anymore for the residents of Purok 8 Singanan, a remote Sitio situated in Brgy. Libay-libay, Maco, as they received the new  "𝑭𝒂𝒓𝒎-𝒕𝒐-𝑴𝒂𝒓𝒌𝒆𝒕 𝒓𝒐𝒂𝒅" (𝑭𝑴𝑹) during the simple turnover ceremony held on June 2, 2022.

Governor Jayvee Tyron Uy, represented by Hon. Raul Timogtimog, President of Liga Ng Mga Baranggay (LNMB), led the ceremonial turnover of the road concreting project funded from the Baranggay Development Program (BDP) which was officially received by Brgy. Captain Apolinario F. Ayunan Jr. and other Brgy. Officials and Staff.

Present at the said ceremony were Engr. Jessica Santiago, DILG Davao de Oro representative, 1LT Bartolome Embisan III, 1001st Brigade representative, PLTCOL Ferdinand Casiano, Provincial Police Office representative, and PLT Jandy Lou Esteban, Revitalized Police Sa Baranggay (RPSB) representative. (Jaynus Fernandez, PAO-IPRD Photos from J. Cadiz & G. Mativo)

𝘍𝘶𝘭𝘭𝘺 𝘍𝘶𝘯𝘤𝘵𝘪𝘰𝘯𝘪𝘯𝘨 𝘚𝘤𝘩𝘰𝘰𝘭 𝘎𝘺𝘮𝘯𝘢𝘴𝘪𝘶𝘮 𝘸𝘪𝘵𝘩 𝘉𝘭𝘦𝘢𝘤𝘩𝘦𝘳𝘴 𝘧𝘰𝘳 𝘵𝘩𝘦 𝘴𝘩𝘰𝘳𝘦𝘭𝘪𝘯𝘦'𝘴 𝘧𝘪𝘯𝘦𝘴𝘵 𝘴𝘤𝘩𝘰𝘰𝘭 "𝘔𝘢𝘣𝘪𝘯𝘪 𝘕𝘏𝘚"

 

Governor Jayvee Tyron Uy spearheaded the ceremonial turnover of the "𝑺𝒄𝒉𝒐𝒐𝒍 𝑮𝒚𝒎𝒏𝒂𝒔𝒊𝒖𝒎 𝒘𝒊𝒕𝒉 𝑩𝒍𝒆𝒂𝒄𝒉𝒆𝒓𝒔" worth Php3.5M which was formally received by Chuchie Ferrando-Yog, School Principal IV/DCP, duly represented by Beverly A. Ordonio, OIC Head Teacher I and Maria Evelyn C. Tanutan, Master Teacher I, together with other teaching personnel. 

Head Teacher Ordonio extends her words of gratitude to the government as the said projects would be a great help not only for holding school-related activities or programs but also for any big events in the community.

"The Mabini NHS is very much happy to accept the projects ... Nakahinumdom ko sauna nga wala pay bleachers , among mga studyante  magtindog maskig init kay dili sila magdala ug bangko. So with these bleachers, this would provide a degree of separation between spectators and participants, especially during the school programs. With this, they can still have a comfortable spot to sit on and they will be gathered in one place ... The Mabini NHS promised to take care of these ... we see to it that this would be well-maintained and the next generation can use it" Ordonio said.

Present on the said event were Mayor Reynaldo Dayanghirang of Mabini, and Brgy. Captain Asalain Pilarito Buntag of Brgy. Cuambog, duly represented by Brgy. Councilors Maribel Fernandez, Reynante Salaza, Alberto Pancho Jr and other Brgy. officials. (Jaynus Fernandez, PAO-IPRD Photos from J. Cadiz and G. Mativo)

PH jumps to 33rd place in Nikkei Asia’s latest Covid-19 Recovery Index

by Analou de Vera, Manila Bulletin

Makati CBD skyline

The Philippines was ranked 33rd in the Covid-19 Recovery ranking by Tokyo-based news magazine Nikkei Asia.

Based on its June 3 report, the country made a big jump in this latest ranking as Nikkei Asia said that the Philippines “had occupied last place in the index during 2021” or placed 121st on its recovery index in October last year. Nikkei Asia ranks 121 countries based on its infection management, vaccine rollouts, and social mobility. 

“The higher the ranking, the closer a place is to recovery, characterized by lower infection and death rates, better inoculation coverage, as well as fewer movement restrictions,” said Nikkei Asia.

“Vietnam and the Philippines logged their best performances in Nikkei’s Covid-19 Recovery Index for May, as both countries managed to ease restrictions while keeping infections low,” it also stated.

Nikkei Asia noted the consistent decline in new cases in the Philippines, with low to no confirmed deaths in recent weeks.

It also cited the move of the Philippine government to reopen the country’s borders to fully vaccinated international tourists.

“Domestically, business has largely resumed and the government is encouraging all schools to hold face-to-face classes again this month,” said Nikkei Asia.

Nikkei Asia sourced its figures from Our World in Data, Google Covid-19 Community Mobility Reports, Oxford Covid-19 Government Response Tracker, Cirium, and Nikkei Asia Research.

The Department of Health (DOH) welcomed the result of this latest ranking.

DOH Secretary Francisco Duque III said that “this remarkable recovery reported by independent external observers is being balanced by safety protocols managed by the Department of Health and our partners.”

“The DOH has always been aware that the Covid-19 pandemic response is more marathon than sprint. We are carefully pacing ourselves using the whole-of-government and whole-of-nation approach, led by President Rodrigo Roa Duterte,” said Duque.

Duque also cited the Filipinos’ “diligent” compliance with the minimum public health standards such as wearing of face masks, isolation, vaccination, and ensuring proper ventilation.

He also cited the capabilities of both the Research Institute for Tropical Medicine (RITM) and Philippine Genome Center (PGC) in detecting new variants and subvariants of Covid-19 virus.

“As the current administration ends, we are confident that the next administration and its incoming Secretary of Health will continue or even improve our march to recovery in the new normal,” he added.

Why the beatitudes?

 

By Fr. Roy Cimagala *

I BELIEVE we are all familiar with the beatitudes, those Christ-defined formulations of how we can be considered blessed. (cfr. Mt 5,1-12) They intriguingly convert what we usually consider as human disasters or clear disadvantages and inconveniences according to worldly standards into a source of joy, a means of our redemption, a path to heaven, narrow and difficult though they may be. 

They expand our understanding of what should comprise our true happiness by including those situations which we normally regard as unsavory and therefore to be avoided as much as possible and hated even.

They portray the way love, which is the essence of God and is what is also meant for us, can be lived in the confusing condition of our earthly life where good and evil are mixed up.

That is why the Catechism teaches us that the beatitudes are considered as depicting “the countenance of Jesus Christ and portray his charity. They express the vocation of the faithful associated with the glory of his Passion and Resurrection, they shed light on the actions and the attitudes characteristic of the Christian life,” it says.

And it adds, “They are the paradoxical promises that sustain hope in the midst of tribulations, they proclaim the blessings and rewards already secured, however dimly, for Christ’s disciples; they have begun in the lives of the Virgin Mary and all the saints.” (1717)

The beatitudes are so articulated by Christ in order to serve as a profound and most effective antidote to our strong, almost invincibly strong tendency to self-love, to self-indulgence.

Yes, we need to declare an unrelenting war against our self-indulgence which has become a very formidable problem we all have. Yes, this has always been a problem to us, but these days it is much more so.

With the many new wonderful things that can instantly give us convenience, comfort, pleasure and satisfaction, many of us are trapped into the very sticky web of obsessions, addictions and the many other forms of self-indulgence that feed on our weaknesses, like lust, pride, conceit, gluttony, unhinged curiosities, envy, etc., etc.

We just have to give a cursory look around to see how bad this problem is. Many people are just looking at their cellphones most of the time. There are reports saying that many young people often forget their meals and lose sleep because of what they do on the Internet. It’s clear they are terribly hooked there and it seems it’s now next to the impossible to get them out of there.

As a result, many duties and responsibilities are left unattended. Disorder and chaos are fast gaining ground as priorities are skewed. Superficiality has now become a mainstream lifestyle, reinforcing the trend toward consumerism, materialism and what Pope Francis refers to as the “throw-away culture” where ethical and moral considerations are ignored or even flouted, i.e., regarded with contempt.

 

In short, the beatitudes detach us from our own selves so that we can truly identify ourselves with Christ who is the very pattern of our humanity and the savior of our sin-damaged humanity. They are actually a way to our liberation from our own self-inflicted bondage to merely earthly and bodily urges. They purify us from any stain caused by our worldly attachments.

They have to be understood from the point of view of our faith and never just from our own estimations of things, no matter how impressive these estimations may be due to our philosophies, ideologies, cultures, etc.

* Chaplain Center for Industrial Technology and Enterprise (CITE), Talamban, Cebu City

Email: roycimagala@gmail.com

MB Daily News Update: Bulusan erupts

NATURE’S WRATH – Thick, ash-laden smoke erupts from the mouth of Bulusan Volcano in Sorsogon province at around 11:40 a.m. on Sunday, June 5, 2022, prompting the Philippine Institute of Volcanology (Phivolcs) to raise Alert Level 1 in the area.

by Manila Bulletin

Bulusan Volcano in Sorsogon erupted on Sunday morning, June 5, 2022, sending a cloud of ashfall over adjacent towns. Government agencies have been placed on round-the-clock alert to brace for the after effects of the volcano’s eruption. The last time Bulusan erupted was in 2016.

The Philippines jumped from last place to 33rd spot in the latest Nikkei Asia Covid-19 recovery index, which measures 121 countries’ infection management, vaccine rollout, and social mobility.

And with the Covid-19 situation getting more manageable in the country, the Department of Health (DOH) warned the public about other common diseases, especially now that the wet season has started.

Meanwhile, the Office of the Ombudsman ordered the suspension of Anti-Red Tape Authority (ARTA) Director General Jeremiah Belgica and four other agency officials for six months for alleged graft charges.

What are the different Filipino values that we have ignored?

 

Bisaya

Proud Bisaya Ko

Barok and Takya Blog | Bisaya Podcast

In a rapidly globalising world, it is easy to lose sight of our own identity. We become caught up in the search for material success and forget the things that make us unique. 

As a result, we often neglect the values that define us Filipinos. These values include family, faith, and community. We are known for our close-knit families, yet we increasingly live far away from home, pursuing more significant opportunities. Our religious beliefs are a source of strength and guidance, but we often turn to them only in times of difficulty. And while we are renowned for our sense of community, we often fail to support those less fortunate than us.

 If we want to preserve our identity, we need to rediscover these values and start living them daily. We can only hope to create a brighter future for ourselves and our country.

Mercury, Venus, Mars, Jupiter and Saturn align this June for rare conjunction

 Mercury, Venus, Mars, Jupiter and Saturn align this June for rare conjunction

By Kristofer Purnell - Philstar.com

All five naked-eye planets line up in their proper order from the Sun during the month of June. At dawn on the 24th, the crescent Moon joins the planetary lineup.

MANILA, Philippines — Amateur astronauts are in for a treat this June as the planets Mercury, Venus, Mars, Jupiter and Saturn will all be seen in a rare alignment for the first time in 18 years.

Sky & Telescope magazine, headed by the American Astronomical Society, said the five naked-eye planets — meaning they can be viewed without a telescope — will be in an orderly conjunction from the Earth's point-of-view the entire month of June around thirty minutes before sunrise.

Mercury will at first be hard to spot but as June carries on the small planet climb higher and shine brighter in the pre-dawn sky.

To be able to see the alignment clearly, it is suggested to have binoculars and face a clear view of the eastern horizon. Those in the Northern Hemisphere can see the alignent from the eastern to southeastern horizon while those in the Southern Hemisphere should look from the eastern to northeastern horizon.

According to Sky & Telescope, the best day to view the five-planet alignment will be on June 24, where the conjunction can be viewed for an hour before the Sun completely shines.

Additionally on this day, the waning crescent Moon will be positioned in between Venus and Mars, acting like a substitute for the Earth in the alignment.

The last time these five planets aligned in their correct sequence was in December 2004, but this time around the distance between Mercury and Saturn is shorter. The alignment will again occur in 2040.