The Epic

MANILA, Philippines - The Philippine manufacturing sector experienced a slowdown in June, with factory output growth easing to a three-month low, according to the Philippine Statistics Authority (PSA). The PSA's latest Monthly Integrated Survey of Selected Industries revealed that the Volume of Production Index, which measures factory output, grew by 2.5% year-on-year in June. This was slower than the 3.2% growth recorded in May and the 2.1% growth in June 2023. Robert Dan Roces, chief economist at Security Bank Corp., attributed the slowdown to sector-specific challenges faced by the basic metals and transport equipment industries. The basic metals industry saw reduced demand, likely due to a slowdown in construction activities in key markets, while the transport equipment sector grappled with tightening profit margins amid fluctuating fuel prices and increased operational costs. These sector-specific issues were compounded by broader economic factors, including inflationary pres...

The regional weather forecast for the Visayas, Palawan, including the Kalayaan Islands, and Occidental Mindoro is as follows: Synopsis As of 5:00 PM on August 8, 2024, the Southwest Monsoon is affecting Luzon and the western section of the Visayas. Forecast Weather Conditions - Western Visayas : Expect partly cloudy to cloudy skies with isolated rain showers and thunderstorms due to the Southwest Monsoon. - The rest of Visayas, Palawan (including Kalayaan Islands), and Occidental Mindoro : Partly cloudy to cloudy skies with isolated rain showers and thunderstorms are anticipated, caused by localized thunderstorms. Wind and Coastal Water Conditions - Winds : Light to moderate winds from the southeast to southwest will prevail across the Visayas, Palawan (including Kalayaan Islands), and Occidental Mindoro. - Coastal Waters : Slight to moderate seas are expected. PAGTAYA (Tagalog) Ang Western Visayas ay makakaranas ng bahagyang maulap hanggang sa maulap na papawirin na may pulo-pulong mg...

The weather forecast for the Philippines as of 4:00 PM on August 8, 2024, is as follows: Synopsis The Southwest Monsoon continues to affect Luzon and the western section of the Visayas. Forecast Weather Conditions - Ilocos Region, Zambales, and Bataan : Expect cloudy skies with scattered rains and thunderstorms due to the Southwest Monsoon. There is a risk of flash floods or landslides from moderate to heavy rainfall. - Metro Manila, the rest of Luzon, and Western Visayas : Conditions will be partly cloudy to cloudy with isolated rain showers or thunderstorms, also influenced by the Southwest Monsoon. Flash floods or landslides may occur during severe thunderstorms. - The rest of the country : Partly cloudy to cloudy skies are anticipated, with isolated rain showers or thunderstorms caused by localized thunderstorms. Similar risks for flash floods or landslides are present during severe weather. Wind and Coastal Water Conditions - Wind Speed : Light to moderate - Wind Direction : Sout...

MANILA, Philippines — The Court of Appeals (CA) has issued a freeze order on the bank accounts and properties of Apollo Quiboloy, founder of the Kingdom of Jesus Christ (KOJC), along with several associated entities, including the Sonshine Media Network International (SMNI). In a comprehensive 48-page resolution, the appellate court ordered the freezing of Quiboloy’s 10 bank accounts, seven real estate properties, five vehicles, and one aircraft. The order also extends to the bank accounts of KOJC and Swara Sug Media Corporation, which operates SMNI. The court found substantial evidence suggesting that Quiboloy's financial assets are connected to various unlawful activities and predicate crimes, including qualified human trafficking, sexual and child abuse, sex trafficking of minors, fraud, conspiracy, marriage fraud, smuggling, and money laundering. The freeze order is effective immediately and will remain in place for 20 days. Attorney Israelito Torreon, representing Quiboloy an...

MANILA, Philippines - Finance Secretary Ralph Recto has expressed his support for an early interest rate cut by the Bangko Sentral ng Pilipinas (BSP), citing the government's need to raise funds at cheaper costs to pay off maturing debts, including those incurred during the pandemic era. In an interview with the Inquirer, Recto stated that the market is likely prepared for whether or not a rate cut will occur at the Monetary Board's (MB) policy meeting on August 15. This comes after BSP Governor Eli Remolona Jr. indicated on Tuesday that a rate cut this month is now "slightly less likely" due to higher-than-expected inflation in July, although he did not rule out the possibility of an off-cycle easing. As a member of the seven-person MB representing President Marcos' Cabinet, Recto believes there is a greater need for a rate reduction "more so now," arguing that the Philippines can afford to ease early amid signals of a September rate cut from the US Fe...

MANILA, Philippines — Commission on Elections (Comelec) Chairman George Erwin Garcia has refrained from directly accusing Smartmatic of being involved in the offshore bank accounts linked to his name, but he presented evidence suggesting a connection during a press conference on Thursday. Garcia revealed that a foreign entity named Jaleo Consulting, LLC, registered in Florida, USA, was responsible for the alleged offshore transactions. “Jaleo Consulting, LLC sent it. When I discovered this, I was taken aback because it implies direct intervention in the elections of the Philippines by a foreign entity, which is strictly prohibited,” Garcia stated. He further disclosed that a certain Jose A. Herrera, the owner of Jaleo Consulting, is associated with Albatross Technologies Corporation. “The owner of Jaleo is a person named Jose A. Herrera. He is not Filipino,” Garcia noted. “Jose Herrera is also a director of Albatross Technologies Corporation, which indicates a connection there.” Garci...

CEBU CITY, Philippines — Cebu Governor Gwendolyn Garcia has firmly stated that she has no intentions of running for a higher office, despite ongoing speculations following the proposal to create the "One Visayas Bloc." In a press conference held on August 7, Garcia welcomed the initiative to form the "One Visayas Bloc," a coalition aimed at uniting all governors from the Visayas region. During the event, it was announced that she has been chosen to lead this new coalition. However, during the same press briefing, Garcia clarified that her involvement in this coalition does not indicate any plans to pursue a higher political position. Currently serving her second term as governor of Cebu, the country’s most populous province, she is set to seek reelection for her third and final term in the upcoming 2025 elections. Garcia expressed her optimism that the formation of the One Visayas Bloc would significantly enhance the agenda of the Visayan provinces, focusing on cru...