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PH improves ranking in Global Innovation Index 2023

The Philippines’ ranking in the Global Innovation Index (GII) improved to 56th place among 132 economies this year, the World Intellectual Property Organization (WIPO) reported Wednesday.The country’s GII ranking this year is better than its placement in 2022 at 59th, which was a nine-place drop in 2021 at 51st.The WIPO observed that the country is performing above expectations relative to its gross domestic product (GDP).”(The) Philippines produces more innovation outputs relative to its level of innovation investments,” it added.Across the seven areas of GII, the Philippines ranks highest in Business sophistication (38th), Knowledge and technology outputs (46th), and Market sophistication (55th), while it needs further improvements in Human capital and research (88th), Infrastructure (86th), and Institutions (79th).Intellectual Property Office of the Philippines (IPOPHL) Director General Rowell Barba welcomed the country’s improvement in the GII 2023.”(It’s an) improvement even for only three notches co
mpared to a big slide last year,” Barba told the Philippine News Agency (PNA) in a Viber message.Meanwhile, Switzerland maintained its top spot among the surveyed economies in the report this year.Sweden replaced the United States in second place, while the latter landed in third place, which was Sweden’s ranking in 2022.Completing the top 10 economies in the GII report this year were the United Kingdom, Singapore, Finland, the Netherlands, Germany, Denmark, and South Korea.”A group of emerging economies are consistently climbing the GII ranks, showing how a focus on the innovation ecosystem can make a difference. Globally, despite a downturn in venture capital funding, the GII 2023 should reassure us that innovative activity currently continues to run strong but that innovative activity should continue to shift from quantity to quality,” WIPO Director General Daren Tang said.
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Source: Philippines News Agency

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All rice retailers in Bicol comply with price cap

The Department of Agriculture (DA)-5 (Bicol) has recorded a 100-percent compliance rate to Executive Order (EO) 39 among rice retailers in the Bicol region.EO 39 issued by President Ferdinand R. Marcos Jr. on Aug. 31 mandates a price cap of PHP41 per kilogram (kg) for regular milled rice and PHP45 per kg. for well-milled rice.In an interview on Wednesday, Lovella Guarin, DA-5 spokesperson, said the agency’s Bantay Presyo Task Force (TF) for Bicol monitored the compliance by all the 376 rice retailers in the six provinces of the region.”We are thankful to all rice retailers in the region since all of them are compliant with the EO 39. We also intensified the Bantay Presyo Task Force (TF) for Bicol monitoring the rice prices in the major markets in the six provinces with the help of other agencies like the Department of Trade and Industry (DTI) and Department of the Interior and Local Government (DILG). From the previous weekly price monitoring, the Bicol Bantay Presyo Task Force is now conducting daily pri
ce monitoring,” Guarin said.She said the task force continues to monitor even on Saturdays and Sundays, and is ready to issue a notice of violation (NOV) to rice retailers found to be non-compliant with the price ceiling.Under Republic Act 7581 or the Price Act, violators of the price ceiling can be penalized as provided in Sections 15 and 16.Penalties include imprisonment of up to 10 years and substantial fines ranging from PHP5,000 to PHP1 million.The DA-5 also reported that there are sufficient rice stocks in Bicol based on the Philippine Rice Information System satellite data.”The palay harvest this September in Camarines Sur alone is estimated to reach 76,000 metric tons (MT) and 53,000 MT in October,” a statement from the agency said.The average price of fresh palay in the province ranges from PHP17 to PHP21.50 and PHP21 to PHP24 for dry palay.Meanwhile, a total of 1,251 micro rice retailers and sari-sari store owners in Bicol will receive Thursday a PHP15,000 government assistance to cushion the effect
of the mandated price cap on their businesses.In an interview on Wednesday, Ram Joseph Zaragoza, Department of Social Welfare and Development (DSWD)-5 (Bicol) project development officer for the Sustainable Livelihood Program (SLP), said the recipients comprise the second batch of beneficiaries.”The beneficiaries are 746 micro rice retailers and 505 sari-sari store owners identified by the DTI with PHP18.7 million worth of assistance,” he said.Zaragoza said they continue to monitor the beneficiaries even after receiving the assistance.”Kailangan natin makita na talagang sumusunod sila sa agreement. To check kung saan talaga nila gagamitin yung assistance since the objective of the SLP is to help their businesses and their livelihoods (We need to see that they are really complying with the agreement. To check how they use the assistance provided since the objective of the SLP is to help their businesses and their livelihoods,” he said.
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Source: Philippines News Agency

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PH stocks up on local investors’ optimism, peso ends flat

The local bourse closed in the positive territory on Wednesday, thanks to local investors’ optimism, while peso ended flat.The Philippine Stock Exchange index (PSEi) jumped 110.74 points, or 1.77 percent, to 6,374.68 level, with broader all shares also increasing by 51.50 points, or 1.53 percent, to 3,412.88.All counters ended with gains, led by Industrial, which shares improved by 119.68 points to 9,042.69.Holding Firms grew by 105.98 points to 6,058.11 points, followed by Mining and Oil, up by 60.84 points to 10,506.67; Financials, 41.55 points to 1,864.86; Property, 30.53 points to 2,637.75; and Services, 18.77 points to 1,516.82.Philstocks Financials, Inc. research associate Claire Alviar said investors are taking advantage of buying local stocks at bargain level.’The market increased despite the possibility of an off-cycle interest rate increase and the likelihood of a prolonged high-interest rate environment. Also, foreign investors continued to damp shares, registering a net outflow of PHP301.32 mi
llion,’ she said.Alviar said net market turnover also improved to PHP6 billion, which is higher than September’s average of PHP4.68 billion, a good level to sustain the rally.’Only three PSEi member stocks were in the red with Bloomberry Resorts Corporation having the biggest loss of 3.45 percent,’ she added.Advancers outnumbered losers at 118 to 74, while 42 issues left unchanged.Meanwhile, the local currency was almost flat closing at 56.95 against a US dollar from the previous day’s finish of 56.96.The peso opened slightly weak at 56.90 from its previous opening level at 56.85 to a dollar.The peso-dollar exchange rate traded between a low of 56.87 to a high of 56.98, bringing the average level for the day at 56.93 to the greenback.Volume of trade increased to USD1.35 billion from Tuesday’s volume of USD1.06 billion.Rizal Commercial Banking Corp. chief economist Michael Ricafort forecast that the currency pair will trade between 56.78 and 56.98 on Thursday’s trading
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Source: Philippines News Agency

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Dinagat opens ‘Bugkosan sa Isla 2023’ festival

Dinagat Islands province opened its Sept. 27-Oct. 1 ‘Bugkosan sa Isla 2023′ on Wednesday in time for the province’s 17th charter day.Bugkosan, which means to bind, is a call for unity among the residents amid the challenges faced by the province in the past years.’Despite the challenges we face, the most difficult of which was the onslaught of Typhoon Odette in 2021, the people of Dinagat Islands continue to be resilient because of the unity they manifest,’ Governor Nilo Demerey Jr. said in an interview.Infrastructure development and livelihood support programs remain the priorities of the provincial government to improve the quality of life of its residents, he said.’We will continue to implement agriculture and fishery support programs, and infrastructure improvements which are essential in the promotion of economic growth in our province,’ he added.He cited the need to empower the youth to enhance their ‘knowledge, skills, and personal growth’ and help foster unity in their communities.In the area of t
ourism, the governor emphasized the need to strengthen the province’s cultural initiatives, as well as sports and recreational activities.The weeklong Bugkosan sa Isla festival features cultural presentations, sports, fairs, and other social activities.The governor’s State of the Province Address will be the highlight of the Oct. 1 culminating activity
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Source: Philippines News Agency

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Film museum to rise in Intramuros

A film heritage building will soon rise in the historic walled city of Intramuros in Manila, the Department of Tourism (DOT) announced Wednesday.The DOT and its infrastructure arm Tourism Infrastructure and Enterprise Zone Authority (TIEZA) signed a 22-year agreement with the Film Development Council of the Philippines (FDCP) allowing the latter to use its Intramuros space to build the structure.The building will occupy an 800 sqm.-lot along Sta. Lucia Street and will be designed to house a cinematheque, film museum/gallery, film and media library, film storage/vaults and film scanning and restoration room.It will also accommodate FDCP offices, lounge areas, board room, as well as a merchandise shop and a cafe.The property will be used with consent from the Department of Finance, the registered owner of the lot.The memorandum of agreement was signed on Sept. 26 by DOT Secretary Christina Garcia-Frasco, TIEZA Chief Operating Officer Mark Lapid and FDCP Chair and Chief Executive Officer Tirso Cruz III.In he
r speech, Frasco hoped the project will strengthen efforts to attract filmmakers to film in the Philippines.’Film has the power to distill these moments, memories, and vestiges of our culture into an art form that can be fully appreciated by our fellow Filipinos and the world. And therefore, it makes sense for us, in the Department of Tourism, to support as much as we can, this thriving industry that really does require government intervention for it to be sustainable for the long term,’ she said.She said this latest collaboration with the FDCP also goes beyond the establishment of the building, but toward the growth of the creative industry in the Philippines.'[W]e foresee that with our archives in cinema and film in the film industry, having a home, as well as in reaching out to the farthest reaches of the Philippines as far as the development of film tourism, it can only serve to grow the portfolio of Philippine tourism and most importantly, provide employment and livelihood to our fellow Filipinos,’ she a
dded.Lapid, meanwhile, said the partnership reflects the DOT and TIEZA’s commitment to preserving the legacy of Philippine cinema.He said the agreement will also amplify ‘the allure of Intramuros as a prime tourist destination in Manila.'”It enhances the experience of what this iconic site can offer, making our history and culture even more accessible and engaging. Let this MOA signing serve as a sign of our dedication to nurturing our nation’s artistic and cultural architectures,” he added.Cruz thanked both the DOT and TIEZA, saying the ceremonial signing between the agencies is a ‘collective dedication to safeguard and further the Philippine film heritage.’He said the facilities will serve as a “haven for enthusiasts, a source of deep and rich knowledge for students and a treasure trove of Philippine cinema for both our fellow citizens and visitors from all around the world.’The agreement will be effective until Feb. 25, 2045, but subject to renewal of the parties involved, the DOT said.
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Source: Philippines News Agency

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Unification minister ‘strongly’ urges N. Korea to respond to dialogue offer over separated families

South Korea’s point man on North Korea “strongly” called on North Korea on Wednesday to respond to Seoul’s offer for talks to discuss the issue of families separated by the 1950-53 Korean War.

Unification Minister Kim Yung-ho made the call during a ceremony commemorating Separated Families Day.

Earlier this year, South Korea designated Aug. 13 on the lunar calendar, which is two days before the Chuseok fall harvest holiday, as a commemorative day to raise public awareness of the issue of separated families.

The divided Koreas have held 13 rounds of reunions since a landmark summit in 2000, bringing together more than 20,000 family members who had not seen each other since the war.

South and North Korea have usually staged family reunions around Chuseok, a major holiday that is celebrated in both countries, and other important national holidays. The two sides last staged temporary family reunions in 2018.

Last September, South Korea proposed holding talks with North Korea to try to discuss family reun
ions, a pressing humanitarian issue on the Korean Peninsula, as most separated family members are in their 70s and 80s and wish to see their long-lost relatives before they die.

Still, North Korea has remained silent on South Korea’s offer and cut off inter-Korean communication channels amid tensions over Pyongyang’s missile and nuclear programs.

On Monday, North Korea called South Korean President Yoon Suk Yeol a “puppet traitor,” and South Korea’s unification ministry criticized North Korea for rebuking Yoon with “vulgar” remarks, saying it is not even worth commenting on.

“I am strongly urging North Korea to respond to it before it’s too late when it comes to the issue of divided families and show the responsible attitude in front of history and people,” Kim said.

In South Korea, some 133,700 have applied for family reunions. More than 93,000 of them have already died, according to the unification ministry.

There are no direct means of contact between ordinary civilians of the two countries that remai
n divided by a heavily fortified border.

The inter-Korean border has been sealed since the war, and no South Koreans or North Koreans can visit the other side without government approval, which is rarely given.
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Source: Yonhap News Agency