President Bongbong Marcos Jr. to Announce New DepEd Secretary

June 27, 2024 - President Ferdinand “Bongbong” Marcos Jr. disclosed today that he plans to unveil the next Secretary of the Department of Education (DepEd) by the week’s end, in response to Vice President Sara Duterte’s recent resignation from the post.

Speaking to Palace reporters in an impromptu interview, President Marcos expressed the urgency of appointing a successor to ensure the continuity of leadership within DepEd. Duterte, who also resigned from her role as vice chairperson of the National Task Force to End Local Communist Armed Conflict (NTF-ELCAC), cited no specific reasons for her departure when queried by Marcos.

"She didn’t give any reasons. I asked her, are there any particular reasons why she has chosen to resign from the Department of Education and the NTF-ELCAC, she said, ‘Huwag na lang natin pag-usapan’ (let's just not talk about it), so I did not force the issue," Marcos stated.

Highlighting the critical role of DepEd, Marcos emphasized, "The Department of Education is quite possibly, arguably the most important department because education is that important." He added that despite the change in leadership, the mandate of DepEd remains crucial and must be upheld.

"I want it fast-tracked. I asked for many names. What do we like? What do we need? Let's look at the status of DepEd. What must be done?" Marcos stressed, indicating his proactive approach in selecting Duterte’s replacement.

Last week, Duterte formally announced her resignation from DepEd, outlining a 30-day transition plan for various administrative aspects under her purview. In her resignation letter, Duterte affirmed her decision was driven by concern for educators and students, aiming to ensure a smooth transition for the incoming Secretary.

Despite resigning from the Cabinet, Duterte, daughter of former President Rodrigo Duterte, maintained amicable relations with President Marcos, signaling a collaborative and constructive atmosphere amid her departure.

President Marcos is expected to announce the new DepEd Secretary in the coming days, underscoring his commitment to continuity and stability within the education sector.

Pasig Students Encouraged to Embrace Entrepreneurship at Go Negosyo's Youthpreneur Summit

June 27, 2024 - Hundreds of senior high school students from Rizal High School in Pasig were introduced to the world of entrepreneurship at a recent "Youthpreneur" summit organized by Go Negosyo and the Department of Education.

The event aimed to inspire young Filipinos to consider entrepreneurship as a viable career path. Students were mentored by business owners who shared valuable insights on starting, sustaining, and growing a business.

Go Negosyo founder Joey Concepcion emphasized the importance of fostering an entrepreneurial mindset from a young age. He highlighted the role of small and medium-scale enterprises (SMEs) in driving economic growth, citing the success of SMEs in other countries.

"The only way to lift the economy is to teach our young kids to be enterprising," said Concepcion. "This can involve working for a company with a business-minded approach or becoming their own boss."

The summit also featured a Q&A session where students actively engaged with mentors, seeking advice and knowledge on navigating the exciting yet challenging world of entrepreneurship.

Vice President and Education Secretary Sara Duterte acknowledged the crucial role mentors play in fostering a culture of innovation among the youth.

"We need to empower our students and help them develop the skills and competencies they need to thrive in the future," said Duterte.

Duterte stressed the importance of financial literacy, encouraging students to explore entrepreneurship as a way to supplement their income.

"Entrepreneurship is not easy, but it can be a rewarding path," Duterte remarked. "By learning how to manage a business, students can gain valuable skills and potentially achieve financial security."

The summit also explored the potential of social media as a business tool. Concepcion cited the success of social media influencers, demonstrating how students can leverage online platforms to market themselves and their ideas.

The Youthpreneur summit is a nationwide initiative by Go Negosyo, designed to spark interest in entrepreneurship among Filipino students. The organization plans to hold similar events in various schools across the country in the coming months.

Work-From-Home Arrangement Seen in Almost a Third of Establishments

June 26, 2024 - The Philippine Statistics Authority (PSA) reported results from the National Wages and Productivity Commission's Integrated Survey on Labor and Employment (ISLE) Module, which focused on productivity in establishments and workers during the COVID-19 pandemic. The survey highlights key findings related to Productivity Improvement Programs (PIPs) and Gainsharing (GS) practices in 2021.

A key takeaway from the survey is that nearly a third (27%) of establishments adopted a Work-From-Home (WFH) arrangement between June 2021 and June 2022. The Education sector had the highest proportion of WFH adoption at 63%, followed by Information and Communication at 58%, and Electricity, Gas, Steam and Air Conditioning Supply at 50%.

The survey also explores the areas within companies that most benefitted from a WFH operation. Admin and Finance topped the list at 7,239, followed by Human Resource (5,533), Sales & Marketing (3,563), and IT/Information (3,177).

While WFH arrangements offered benefits like reduced expenses on utilities and maintenance for a majority of establishments (81%), some drawbacks were also identified. These include:

• Difficulty in monitoring employee performance (reported by 60% of establishments that observed improvement in employee performance)
• Difficulty communicating with employees (40%)
• No or intermittent internet connection (29%)

An additional concern raised by the survey is that WFH may lead to longer hours of operation or work (reported by 20% of establishments).

Overall, the PSA's ISLE report provides valuable insights into how Filipino businesses adapted to the COVID-19 pandemic through WFH arrangements. The survey highlights both the potential benefits and challenges associated with WFH, offering valuable data for policymakers and business leaders moving forward.

Peso Shows Slight Weakness Against Dollar, Closing at 58.860 on June 26th

June 26, 2024 - The Philippine peso (₱ or PHP) ended June 26th on a slightly weaker note, closing at 58.860 to the US dollar (USD). This represents a marginal depreciation of 0.09 pesos compared to the previous day's close of 58.770.

A weaker peso translates to more pesos for Filipinos working abroad who earn in dollars (OFWs) when they convert their earnings. This can be a significant advantage, particularly for those supporting families back home. However, it's important to note that a persistently weak peso can also contribute to inflationary pressures within the Philippines, potentially offsetting some of the gains for OFWs.

The exchange rate between the peso and the dollar is a key indicator of the Philippines' economic health. Several factors can influence this rate, including interest rates, inflation, foreign investment, and the trade balance. Understanding these factors and how they impact the exchange rate is crucial for businesses and individuals involved in international trade or with financial interests tied to the peso.

Veterans Federation Calls for Ban on Philippine Offshore Gaming Operators (POGOs)

June 26, 2024 - The Veterans Federation of the Philippines (VFP) is urging the government to ban Philippine Offshore Gaming Operators (POGOs), citing national security concerns and alleged involvement in criminal activities.

The VFP, a strong advocate for the country's well-being, expressed their belief that POGOs pose a significant threat to social order. They allege POGOs are linked to syndicated crimes like scamming, bribery, torture, human trafficking, prostitution, kidnapping, and illegal drug operations.

The federation applauds the efforts of the defense and security sector for exposing these illegal activities and pledges their full support to the government's fight against corruption. They called upon all Filipinos to unite and advocate for the eradication of these "organized crime hubs."

While there are no recent news reports of the VFP's specific call for a total ban, the Philippine government has been cracking down on POGOs since February 2022. The government aims to cancel licenses of illegally operating POGOs, citing their involvement in money laundering and human trafficking.

The extent of the government's crackdown and the number of licenses to be revoked remain unclear. However, the VFP's stance adds to the growing pressure to address the alleged negative impacts of POGOs in the Philippines.