Day: May 5, 2025

Manila: President Ferdinand R. Marcos Jr. on Monday called for continued efforts to institutionalize reforms to make sure that the Philippines will remain out of the Financial Action Task Force’s (FATF) gray list. According to Philippines News Agency, in his speech during a recognition ceremony in Malaca±an honoring the Champions of the Philippines’ FATF gray list exit, President Marcos credited the Philippines’ FATF gray list exit to unity, strong leadership, and government-wide coordination, highlighting such accomplishment as a testament to the country’s commitment to financial integrity. The ceremony of the Presidential and National Anti-Money Laundering, Counter-Terrorism Financing and Counter-Proliferation Financing

Manila: The local stock market experienced a downturn due to profit-taking, while the peso ended weak on Monday. The Philippine Stock Exchange index (PSEi) saw a decline of 0.81 percent, closing at 6,359.63. Similarly, the All Shares index decreased by 0.58 percent, settling at 3,719.26 points. According to Philippines News Agency, the market’s pullback to the 6,300 level was attributed to profit-taking as investors awaited a fresh inflation report expected to be released on Tuesday. Regina Capital Development Corp.’s head of sales, Luis Limlingan, noted this trend in the market. All market counters ended in negative territory, with Holding Firms

Manila: The Commission on Elections (Comelec) on Monday denied that the May 12 midterm elections have been moved to May 10, as claimed by an infographic circulating on social media. According to Philippines News Agency, Comelec Chairperson George Garcia addressed the misinformation in an interview, stating, “Fake news again, saying the election is being postponed from May 12 [and] will be held on May 10 because of the extreme heat.” The infographic falsely cited a “Comelec official,” claiming the date change was due to intense heat predicted by Pag-asa for May 12. Garcia emphasized that “nothing can stop the holding

Manila: The Department of Migrant Workers (DMW) on Monday assured overseas Filipino workers (OFWs) of uninterrupted welfare and reintegration services after the Commission on Elections (Comelec) granted the agency an exemption from the election spending ban. According to Philippines News Agency, Migrant Workers Secretary Hans Leo Cacdac said Comelec has approved the exemption for seven key programs under Section 261 (V) of the Omnibus Election Code and Comelec Resolution No. 11060, which prohibits the disbursement of public funds for social services between March 28 and May 11 -or 45 days before the May 12 elections. Among the exempted programs are

Manila: The Commission on Elections (Comelec) is actively compiling and analyzing evidence against candidates with pending disqualification cases ahead of the upcoming elections. With a significant number of complaints filed, the electoral body aims to ensure the integrity of the election process. According to Philippines News Agency, Comelec Chairperson George Garcia revealed that approximately 400 complaints related to vote-buying and abuse of state resources (ASR) have been lodged with the Committee on Kontra-Bigay. This committee is responsible for investigating allegations of vote buying and selling. The Clerk of the Commission is meticulously reviewing these cases, especially those supported by substantial