Pinoy Boxer Regains Minimumweight Crown in Japan

Melvin Jerusalem stuns Yudai Shigeoka in Japan for WBC minimumweight crown

BY REYNALD I. MAGALLON

Manila Bulletin

Mar 31, 2024 

After a series of misfortunes, Philippine boxing has finally risen and Melvin Jerusalem was the anointed one on Easter Sunday, March 31.

The pride of Bukidnon defeated Japanese defending champion Yudai Shigeoka via split decision to wrest the WBC minimumweight crown before a hostile crowd inside the International Conference Hall in Nagoya, Japan.

Jerusalem knocked down Shigeoka twice, first with a booming right in the third round and another in the sixth round to get the nods of the two judges at the end of the 12-round bout.

The 28-year-old Filipino fighter had judges Jae Bong Kim and Barry Lindenman scoring the fight in his favor with a similar 114-112 scorecard while judge Malcolm Bulner had Shigeoka winning with a 114-113 count.

Jerusalem improved his record to 22-3 with 12 KOs while Shigeoka absorbed his first taste of defeat after nine bouts.

The Filipino fighter was the aggressor in the early goings of the fight, dictating the tempo with timely body shots that obviously hurt and slowed down the Japanese champion. The booming right then staggered Shigeoka who fell to the canvas but immediately got back up in the third round.

Needing to recover from the early knockdown, Shigeoka pressed the fight and also landed heavy hits to the head of Jerusalem including a big left in the fourth round. The Japanese kept coming in the ensuing frames before the Filipino caught him with a right counter straight that sent him down to the canvas for the second time.

The stunning win not only allowed Jerusalem to return to the top of the minimumweight division but he has also given the country its first and lone world champion after several notable compatriots fell prey to the thriving Japanese boxing in the past few months.

He ended that curse that seemingly haunted Filipino fighters in the Land of the Rising Sun after Marlon Tapales and Jerwin Ancajas both lost their respective title fights against the champion brothers Naoya and Takuma Inoue in Japan.

Even compatriot Jake Amparo fell victim to the curse hours earlier after losing via second round knockout in the co-main event against Yudai's brother and IBF minimumweight champion Ginjiro Shigeoka.

For Jerusalem, it was a repeat of history after he also won his first world title in Japan after he defeated another Japanese champion in Masataka Taniguchi last year in Osaka to wrest his previous WB minimumweight belt.

Philippines has the Best Islands in Asia-Pacific

Boracay, Palawan named among ‘Best Islands in Asia-Pacific’

Story by Ghio Ong

28 March 2024

MANILA, Philippines — Two island destinations in the Philippines were included in the 10 “Best Islands in Asia-Pacific” by a foreign travel magazine.

DestinAsian based in Singapore listed Boracay and Palawan as among the “Best Islands” in its 17th Annual Readers’ Choice Awards this year.

Boracay ranked fifth while Palawan was ninth.

A photo of paraw boats sailing amid the sunset in Boracay was featured.

Palawan was highlighted with a photo of limestone cliffs surrounded by clear blue and green waters.

In a Facebook post, the municipal tourism office of Malay town in Aklan attributed the recognition to the “collaborative efforts “ of the local government of Malay, the tourism office, stakeholders and local volunteers who make Boracay Island “better than ever. “

As of March 26, at least 499,120 tourists, 137,800 of them foreigners and 7,131 overseas Filipinos have visited Boracay this year, according to the tourism office.

Bali in Indonesia topped DestinAsian’s 10 “Best Islands” list, followed by Maldives, Phuket and Koh Samui in Thailand, Boracay, Phu Quoc in Vietnam, Langkawi and Penang in Malaysia, Palawan, and Lombok in Indonesia.

The result of this year’s DestinAsian Readers’ Choice Award was “a roll call of 230 properties that the voters deemed to be the top places to stay in the region, compiled alongside favorite cities, islands, cruise lines, airlines and more,” the magazine said.

Toyo Eatery in Makati among Asia's best Restaurant

Toyo Eatery in Makati among Asia's 50 Best Restaurants for 2024

Story by NICK GARCIA

28 Mar 2024

Filipino restaurant Toyo Eatery in Makati made it to Asia’s 50 Best Restaurants anew, landing 24th on this year's list.

The 50 Best websites noted in the citation that it prioritizes Filipino people and produce, fostering long-term relationships with local farmers and artisans.

It presents local ingredients in modern ways, playing with fermentation and preservation techniques to create a bold palate of flavors, it added.

Toyo Eatery, whose name is based on the Filipino word for soy sauce, placed 42nd in the Asia’s 50 Best List 2023.

It was also named the Philippines’ best restaurant in 2019, 2021, and 2023.

Japan’s Sézanne topped this year’s list.

Toyo opened in 2016 along Chino Roces Avenue. It's being run by Jordy and May Navarra.

The 50 Best website said its menus are scattered with references to popular culture and elevated by clever plays on flavor and texture. 

Its signature dishes include gourmet pork barbecue skewers made with three cuts of meat and finished in bone broth, as well as a salad referencing Bahay Kubo.

Philippine economy on a roll

 Economy seen growing faster

Story by Niña Myka Pauline Arceo 
Manila Times
26 March 2024

ECONOMIC growth will likely pick up this year due to higher infrastructure spending by both the government and the private sector, economists from the University of Asia (UA&P) and the Pacific and First Metro Investment Corp. (FMIC) said.

First quarter growth, in particular, was forecast to hit 6.1 percent — up from 5.6 percent in the fourth quarter of 2023 but slightly lower than the year-earlier 6.4 percent.

"The economy looks set to accelerate in 2024 ... as infrastructure spending goes into high gear with the national government (NG), buoyed by official development assistance funding, and public-private partnership projects gain traction," the economists said in the March edition of their Market Call report.

Gross domestic product (GDP) growth came in at 5.6 percent last year, slowing from 2022's 7.6 percent and missing the government's 6.0- to 7.0-percent target.

This year's growth goal currently stands at 6.5-7.5 percent, although this could have been lowered last Friday following an economic managers' meeting. Finance Secretary Ralph Recto told reporters last week that a 6.0- to 6.5-percent could be adopted.

"With actual NG spending in 2023 exceeding program by 2.0 percent, we think the administration will start 2024 with a bigger bang compared to 2023," the FMIC and UA&P economists said.

They noted that the Department of Public Works and Highways alone had been given a P1-trillion budget this year and that the $3-billion Ninoy Aquino International Airport expansion project had just been awarded.

And while inflation may have picked up in February — to 3.4 percent from 2.8 percent a month earlier — "we don't see a repeat" as rice prices abroad have started dropping and as global oil price rises will be weighed down by surplus capacity and a weak Chinese economy.

Consumer price growth could hit 3.7 percent in the first half but drop below 3.5 percent by the third quarter, and the full-year average will fall within the Bangko Sentral ng Pilipinas' 2.0- to 4.0-percent target.

The economists said the first quarter average could be lower at 3.2 percent and maintained a full-year forecast of 3.8 percent.

Exports, meanwhile, are expected to rebound this year but the Philippines will likely again run a trade deficit as imports will also remain elevated.

"We should see a modest 5.0%-10.0% increase in exports for 2024 as the global economy recovers," the FMIC and UA&P economists said.

"However, the trade deficit will remain above $4.0-B (billion) per month on average," they added.

"But hefty rice imports, transport equipment especially related to ongoing train systems expansion, and crude oil prices remaining elevated despite limited upside should boost imports."

The peso is expected to strengthen in the first half as the dollar weakens slightly but will "resume falling as economic growth takes a faster pace."

Bond yields, meanwhile, will depend on whether the impact of inflation is positive or negative, and share prices that rose up the middle of March are expected to correct in April-May "but recover with the economy and good corporate earnings for Q1 (the first quarter)."

Philippines on track to achieve upper middle-income status

Philippines on track to achieve upper middle-income status by 2025, NEDA Sec. Balisacan says

BY XANDER DAVE CEBALLOS

Manila Bulletin

Mar 25, 2024

The country’s socioeconomic planning agency remains positive that the Philippines will become an upper middle-income economy by next year.

National Economic and Development Authority Arsenio M. Balisacan said that the country remains on track to achieving an upper middle-income status in 2025 which may be attributed to a higher economic growth, as measured by gross domestic product (GDP), and slow population increase.

“The numbers are pointing at an upper middle-income status by next year if we achieve at least six percent growth of GDP, and by all indications, I think that six percent should be doable,” Balisacan told reporters.

“And there's another positive factor that we saw recently in terms of population, population numbers are actually lower, while the latest census we had showed slower population growth,” he added.

Being an upper middle-income country is to have a gross national income (GNI) per capita income range of $4,466 to $13,845 as measured by the country’s final income in a year and its population.

As per writing, the World Bank categorizes the Philippines as a lower middle-income country with a GNI per capita of $3,950.

The Marcos administration aims to bring the Philippines to "upper-middle income status by 2024" as also aligned with the World Bank’s target.

For the current 2024 fiscal year, low-income economies are categorized as those with a GNI per capita of $1,135 or less in 2022; lower middle-income economies are those with a GNI per capita between $1,136 and $4,465; upper middle-income economies are those with a GNI per capita between $4,466 and $13,845; high-income economies are those with a GNI per capita of $13,846 or more.

Meanwhile, the country’s ASEAN-4 neighbors Malaysia, Thailand, and Indonesia have per capita incomes of $11,700, $7,200 and $4,900, which all lie in the upper-middle-income category.

Cut poverty rate

Before becoming an upper-middle-income country, the Philippines is urged to address its poverty rate first.

According to a report by French Development Agency (AFD) Country Risk Economist Benoît Jonveaux, the country remains below its ASEAN neighbors in terms of per capita GDP in purchasing power parity.

“In 2022, it was 50 percent lower than in Indonesia, 30 percent lower than in Vietnam, and almost two times lower than in Thailand,” he said.

“Similarly, the path towards poverty reduction (although there has been a sharp decline in poverty) and human development falls slightly below neighboring countries,” the report reads.

The poverty rate in the country was still at 18.3 percent in 2019 but was still lower than 35.3 percent in 2010, based on the World Bank threshold for lower middle-income class countries.

However, the country’s poverty rate remains below compared to Vietnam at 5.3 percent and Thailand at 1 percent, based on the report.

To resolve this, the report cited the need to address access to financing, the relatively low productivity of workers, and the cost of electricity, which is the highest in the ASEAN region after Singapore.

It also noted the need to address the country's governance as the "World Bank’s governance indicators on the rule of law, corruption, and government effectiveness have also declined since 2016 and are in the bottom half of the institution’s global rating."

Makati's Street Among the World's "Coolest"

 L.P. Leviste Lands Among the World's 'Coolest' Streets

Story by Tarra Quismundo and the SPOT.ph team 
25 March 2024

L.P. Leviste Street, a bustling stretch in Salcedo Village in the heart of Makati City, has just been voted one of the world’s coolest streets.

Time Out, a global media and hospitality brand headquartered in London, included L.P. Leviste on the cool list alongside the world’s most underrated. There's Paris’ Rue de Belleville, known for its bars and eats, the tree-lined Consell de Cent, Barcelona with its endless shops and artisan bakeries, and New York’s "other Fifth Avenue" in Park Slope, which has become a preferred third space among locals. 

What got the Makati street the crown? Time Out says while L.P. Leviste "doesn’t scream cool at first glance," it’s still a crowd drawer for its "coffee shops, thrift stores and a host of independent food and drink joints hidden inside nondescript buildings if you know where to look." 

If you’re keen on visiting this cool strip in Makati, here are some things to do in L.P. Leviste.  

Visit the Salcedo Community Market

This market, which offers food finds and other artisanal products, has become a Saturday staple among locals and expats alike. It happens at the Jaime Velasquez Park, located on the block bounded by L.P. Leviste and Velasquez streets. 

Enjoy Endless Eats 

L.P. Leviste is also a restaurant row, offering eats that will appeal to all tastes.

As Time Out recommends, there’s Elbert’s Collective, which offers a mix of European cuisines and a wide selection of burgers, sandwiches, pizzas and pastas for a power lunch. Its high-ceilinged interior gives you a classic yet contemporary diner feel, with its arched booths and tile-designed tables. Elbert’s Collective is open daily from 10 a.m. to 11 p.m., with extended operations until 1 a.m. on Fridays and Saturdays. 

If you lingered long enough in the city in time for dinner, you can try Golden Gibbon, which offers Southeast Asian fusion cuisine in a jungle backdrop fit for nights both wild and tame. Don’t miss their nine-course degustation every weekend, and top it off with your choice of cocktail. Golden Gibbon is open for lunch Tuesdays to Saturdays at 11 a.m. to 3 p.m., and for dinner on Tuesday to Sundays, from 6 p.m. ‘til late. 

Pablo Bistro, a Spanish resto bar, meanwhile, brings together great food with good music and a cozy interior that will urge you to let your hair down. If Mushroom Truffle Paella or Smoked Wagyu Brisket won’t make your mouth water, we don’t know what will.
Beyond being cool, L.P. Leviste Street is timeless. Whether you’re there for a quick stop or visiting for a full-on exploration, it’s worth one day of your weekend. 

Philippines first to implement e-Apostille in ASEAN

DFA launches e-Apostille service; first in Asean region

Story by Adrian Parungao
Cebu Daily News
24 March 2024

MANILA, Philippines — The Department of Foreign Affairs Office of Consular Affairs (DFA – OCA) announced that it launched an e-Apostille service for civil registry documents.

DFA said the system will allow the public to apply online for e-documents and e-Apostilles from the Philippine Statistics Agency (PSA) without having to appear in both offices.

Foreign Affairs Undersecretary Antonio Morales said that the Philippines was the first in Southeast Asia  to implement the e-Apostille system.

“It is noteworthy to mention that the Philippines was the first country in ASEAN to accede to the Apostille Convention. We have continued our leadership in this area by being the first in ASEAN and the third in the Asia-Pacific region to fully implement the electronic Apostille today,” Morales said.

e-Apostille system

DFA said that the e-Apostille system is available for the PSA civil registry documents via PSA Helpline.  But they are currently working to also include other public documents in the future.

Meanwhile, payments can be made in the PSA Helpline page and in the Landbank Link.biz portal.

DFA said the service is only available for PSA civil registry documents via PSA Helpline.  However, the service will soon cover other public documents in the next phase of implementation in coordination with other government agencies with digital processes and issuance.

Moreover, it said that e-payment options are available for PSA e-certificates via the PSA Helpline page while e-payment for the e-Apostille can be made via the Landbank Link.biz portal.

The DFA said that there are 126 contracting parties in the Apostille Convention that should accept e-Apostilles.

Filipino Recipient of Da Vinci International Art Prize

 Bohol artist to receive Da Vinci International art prize

Bella Cariaso
Philippine Star Global
24 March 2024

MANILA, Philippines — A Bohol-based visually impaired artist will hold his first exhibit in Milan, Italy as he was among the winners in this year’s Leonardo Da Vinci International Art Prize.

In an interview with OneNews.ph, Elvin Vitor said that somebody encouraged him to submit samples of his works.

“I sent photos of my work and then after a few days, they replied, ‘Congratulations you will be joining the Leonardo Da Vinci International Art Prize.’ Who is Elvin Vitor? A mere Boholano artist but I am grateful to God that I was included in the Leonardo Da Vinci awarding ceremony in Milan,” Vitor said.

He added that as one of awardees, he will receive a trophy and will be included in the book of Leonardo Da Vinci International Art Prize.

“There is no cash prize. You will have a trophy and you will be included in the Leonardo Da Vinci book, where international artists were included. Probably, they will provide more network of artists or more connections of collectors,” Vitor said.

He added that Milan consul general Elmer Cato has organized a solo exhibit during his stay after the scheduled awarding ceremony.

“I will be bringing small pieces, 10 pieces,” Vitor said, adding that he plans to donate half of the proceeds of his paintings to the blind and deaf community in Bohol.

“I have a disability, that’s why I have the heart to help,” he said.

Vitor needs to wear glasses or contact lenses with a grade of 1,700.

“I wear contact lenses because my eye glasses are too thick. If I don’t have contact lenses, my vision is really blurred,” he noted.

Vitor said that he wants to prove that disability is not a hindrance if one has the ability to create.

“That’s why I wanted to give inspiration to others… We have unlimited time to create good art. We just need patience, dedication and passion,” he added.

Vitor said that he got his talent from his father, who failed to pursue his dream.

“He is also an artist, but he did not pursue his dream because he decided to take up nursing and then become a teacher. I always saw his visual aids before, that’s why I was inspired by his works,” he added.

Because of his blurry vision, Vitor chooses rich and vibrant colors.

“Art can supply what nature cannot bring into finish. That is why when I am aided by the lenses, I want my work to be vibrant,” he added.

Vitor said it takes at least three to five months to finish his pieces.

“It takes longer to practice oil painting, it is layer over layer because I believe oil paint seasons over time. When paint seasons over time, it will produce more colors,” he explained.

Vitor previously worked as a layout artist but decided to leave as it affected his vision.

“That time, I had no choice but to develop painting. I wanted to focus more on the hyper surrealism".

Miss Philippines is Miss Universal Woman

 PH’s Maria Gigante thwarts Venezuela’s back-to-back dream in Universal Woman

Story by Armin P. Adina
Philippine Daily Inquirer
23 March 2024

Filipino contender Maria Gigante snagged the Universal Woman title in ceremonies staged in Phnom Penh, Cambodia, on Friday, March 22, edging out Venezuelan delegate Lisanda Chirinos who settled for the first runner-up spot.

The Cebuana host and entrepreneur bested 43 other aspirants to inherit the crown from last year’s winner Valentina Sanchez, who also happens to be from Venezuela. Gigante’s victory has essentially thwarted the South American country’s attempt at scoring back-to-back victories in the young competition.

The contest, whose tagline is “We are the new era of beauty,” is open to women between 25 and 45 years old, with no restrictions on height, weight and marital status. Even mothers can take part in the international pageant. The first edition was held last year in the United Arab Emirates.

Gigante also received the Universal Woman Sympathy title during the preliminary competition, and her social project was among the Top 5 chosen by the selection committee. She amassed the most votes in the online poll that earned for her the Universal Woman Social Media award during the final show.

Three more ladies were proclaimed as part of Gigante’s court in Cambodia—second runner-up Elisa Myshyne from France, third runner-up Brianna Mai from the host country, and fourth runner-up Tavera Pena Chabelli from the Dominican Republic.

Gigante is a veteran of national competitions, having participated in both the Binibining Pilipinas and Miss World Philippines pageants. She was also crowned as Bb. Cebu-Charity in the first-ever Bb. Cebu contest held in 2017.

She was appointed as Universal Woman Philippines 2024 by talent manager and entrepreneur Arnold Vegafria, the man behind ALV Pageant Circle that mounts the annual Miss World Philippines pageant that Gigante joined in 2022.

Sanchez witnessed Gigante receive her appointment in an event held at Kingsford Hotel in Parañaque City on Feb. 27. The Venezuelan beauty was accompanied by Universal Woman official Alexander Gonzalez in her trip to Manila.

During her reign, Gigante is expected to work on charitable projects with groups that the Universal Woman organization has chosen to partner with.

Lambanog is World's Second Best Spirit

 Lambanog Voted World's Second Best Spirit

Story by Tarra Quismundo and the SPOT.ph team
23 March 2024

It’s the stuff of kanto or roadside drinking sessions, best paired with videoke or tales of heartbreak retold. 

The Philippines’ humble Lambanog, also known as coconut wine or Philippine vodka, has been voted the second-best spirit in the world on a list by TasteAtlas, a global catalogue of food and drinks. 

 

The liquor, mostly produced in coconut-rich Quezon province, south of Metro Manila, came next only to Scotland’s Speyside Scotch, named after its place of origin, Speyside, home of the world’s most famous scotch distilleries. 

On TasteAtlas’ list of "Top 79 Spirits in the World," Lambanog bested other well-known drinks, including Mexico’s Tequila and Mezcal, Korea’s Soju, and the London Dry Gin.

"Lambanog is traditionally enjoyed neat, usually as a shot, but it also blends well in cocktails and mixed drinks. In the past, it was frequently produced by farmers, similar to a local version of moonshine, but recently it has mostly shifted to factory production, and its quality has significantly improved," TasteAtlas said. 

Lambanog is made with naturally fermented coconut sap and has a high alcohol content at a mininum 30%, according to the Philippine Coconut Authority (PCA). It used to be known as the "poor man’s drink," owing to its relative affordability with prices ranging from P37 to P120 per liter, the PCA said. 

The colorless yet potent drink is produced predominantly in Southern Luzon, which has an abundance of coconut, but there are also registered producers in the SOCCSKSARGEN and CARAGA regions in Mindanao. It had earlier gained notoriety for being unsafe supposedly due to a high methanol content, but Lambanog has turned around its reputation and is now being exported to overseas markets, the coconut agency said in a post in misconceptions about the local drink. 

The liquor has won awards in China, Europe, and the United States, proving that "genuine lambanog is a great drink and not poisonous," the PCA said. Other than its pure form, the drink comes in various flavors, among them mango, pineapple, cherry, and even bubblegum. 

Lambanog’s TasteAtlas feat has stoked Filipino pride, with Pinoys leaving emojis of the Philippine flag, medals and trophies on the TasteAtlas post on Facebook. Commenters from other parts of the world begged to disagree, naming their own best bets. 

"Bourbon at #44 could be thought of as farcical," said one commenter. This drew an agreement from another commenter who said: "This whole thing is farcical. I think this was written by an 11-year-old." 

TasteAtlas said its food rankings are based on audience votes, "with a series of mechanisms that recognize real users and that ignore bot, nationalist or local patriotic ratings, and give additional value to the ratings of users that the system recognizes as knowledgeable." 

It recorded 6,125 ratings for the Top 79 Spirits of the World list, among them 4,266 "were recognized by the system as legitimate." 

It said its rankings "should not be seen as the final global conclusion about food" and instead are meant to "promote excellent local foods, instill pride in traditional dishes, and arouse curiosity about dishes you haven’t tried."

Philippines Has the Highest Number of Female Executives

The Philippines Has the Highest Number of Female Executives in the World

Story by Esquire Philippines

19 May 2024

It's no secret that the Philippines has, err, some issues when it comes to gender equality and equity. Whether it's because of conservatism or just a lack of opportunities, women continue to struggle to find their place in the corporate hierarchy.

But apparently, the country still remains one of the more progressive places for female leaders. So much so that it had been ranked by the UK-based global accounting firm Grant Thornton first out of 28 countries in the percentage of women in senior positions.

Grant Thornton analyzed interview responses from companies in Asia, Europe, and America last year. This encompassed 4,891 medium-sized companies, with 90 percent of these businesses employing 50 to 2,500 workers. Top executives are defined as those in key executive positions, from the board down to various departments.

According to a survey conducted by the global accounting group, about 43 percent of top executives in the country were women. Compared to our neighbors in Southeast Asia, such as Thailand, Malaysia, and Indonesia, were ranked third, seventh, and 10th respectively.

As a matter of fact, Filipino companies have actually ranked higher in these surveys over the past couple of years. In 2022, the country was fourth on the list. Meanwhile, from 2020 to 2021, the Philippines placed first, too.

The top 10 countries with the most number of companies with women as executives are as follows:

1| Philippines (43.1 percent)

2| South Africa (42 percent)

3| Thailand (41.0 percent)

4| Turkey (41.0 percent)

5| Nigeria (40.6 percent)

6| Spain (40.3 percent)

7| Malaysia (39.6 percent)

8| Australia (39.6 percent)

9| France (37.9 percent)

10| Indonesia (37.4 percent)

The firm said that part of the accelerated shift toward a more inclusive management system can be attributed to the pandemic, as well. For four consecutive years, the share of women in management roles has risen to 33 percent.

To put things in perspective, women had only occupied less than 20% of senior management positions in 2004. Last year, they made up more than a third of these positions. While the progress has been incredible over the past decade, the percentage of female CEOs nevertheless dropped from 28 percent to 19 percent just last year.

Philippines to host 2025 FIVB Men's World Championship

 Philippines wins bid to host 2025 FIVB Men's World Championship

GMA News Online 
20 March 2024

The Philippines is set to host the 2025 FIVB Men's World Championship.
The FIVB made the announcement on Wednesday as the country became the successful bidder.

"This prestigious event will not only inspire a new generation of athletes but will also help to encourage increased participation in sport at all levels in the country and wider region," FIVB President Dr. Ary S. Graça said in a statement on Volleyball World's report.

"We are confident that the Philippines, supported by our innovative Volleyball Empowerment programme, will host an extraordinary World Championship that will leave a lasting legacy and help to cultivate an even brighter future for our sport globally," Graça added.

Philippine National Volleyball Federation president Ramon 'Tats' Suzara said the country is ready to host the championship.

“For this, I am ready, our team is ready, the Philippines is ready to boldly face the challenge and to fulfil the dream, as we work collectively to serve volleyball. If you love volleyball, then you will surely love the Philippines. See you all in 2025," Suzara said in the report.

The Philippines formally launched its bid in February, banking on the success of the country's hosting of the Volleyball Nations League (VNL) in 2022 and 2023.

The said VNL tours were held in the Smart Araneta Coliseum and Mall of Asia Arena, which will also be eyed as venues for the hosting of the World Championship.

—JKC, GMA Integrated News

The World Happiness Report placed Philippines 5th spot in Asia

 This is the happiest country in Asia, according to the World Happiness Report

Story by Ernestine Siu
CNBC
20 March 2024

Singapore is the happiest country in Asia for the second year in a row, according to the 2024 World Happiness Report released Wednesday.

The city-state ranked 30 out of the 143 places surveyed for the study.

Topping the list this year is Finland, followed closely by Denmark and Iceland.

The World Happiness Report is a joint effort from some of the world's leading researchers and wellbeing scientists. The happiness ranking in this study is supported by data from the Gallup World Poll which measures individuals' average life evaluations, taken over three years from 2021 to 2023.

The top 10 happiness rankings in Asia:

1. Singapore
2. Taiwan
3. Japan
4. South Korea
5. Philippines
6. Vietnam
7. Thailand
8. Malaysia
9. China
10. Mongolia

Experts also analyzed data in six key factors: GDP per capita, healthy life expectancy, social support, freedom, generosity and perception of corruption. Their research into these areas provided deeper insight and potential explanations for the subjective quality of life ratings people gave.

"These factors help to explain the differences across nations, while the rankings themselves are based only on the answers people give when asked to rate their own lives," according to a statement by the World Happiness Report.

The data gathered for the six factors came from organizations like the World Bank, the World Health Organization and the Gallup World Poll.

"Singapore did very well in terms of GDP per capita, one of the highest rankings in our dataset," Shun Wang, co-author and editor of the 2024 World Happiness Report told CNBC Make It.

"That means Singapore's government is really clean and their people really have a very low perception of corruption ... even lower, you know, than Denmark or Norway," Wang added.

Denmark and Norway ranked 2nd and 7th, respectively, on this year's report.

Additionally, Singapore "does particularly well on generating healthy life expectancy, so long lives and healthy lives," according to Jan-Emmanuel De Neve, Director of the Wellbeing Research Centre at Oxford University and editor of the 2024 World Happiness Report.

Despite this, Singapore ranks lower in terms of its perceived social support, freedom to make life choices, and generosity.

"Singapore is punching below its weight," said De Neve. "Given all the objective indicators about Singapore, you'd expect Singapore to be in the top 20 of the World Happiness Report."

"I would love to challenge the Singaporean government and the people of Singapore to find ways to leverage the extraordinary city-state that they've created into ways of improving quality of life as people experience it," De Neve said.

CNBC reached out to the Singapore government for comment, but did not immediately hear back.

Myanmar, Cambodia, India, Sri Lanka and Bangladesh are among Asia's least happy countries, according to the report.

India, the world's most populous nation, came in at 126th out of 143 places surveyed.

WEF: The Philippines could become a $2-trillion economy in the next decade

 WEF bullish on PH economic prospects

Manila Times
Story by Niña Myka Pauline Arceo, Kristina Maralit
20 March 2024

The Philippines could become a $2-trillion economy in the next decade given the country's continued growth and provided that proper groundwork is done, a visiting World Economic Forum (WEF) official said.

"We are very bullish on the Philippines provided that reforms do continue," WEF President Borge Brende said in a briefing in Malacañang on Tuesday.

"I think that this can be in the coming decade a two-trillion US dollar economy if there are better investments in education, infrastructure and also able to draw on the great competence of the people of the Philippines," he added.

World Economic Forum President Børge Brende joined by the country's government economic leaders Finance Secretary Ralph Recto, Special Assistant to the President for Investment and Economic Affairs Frederick Go, and National Economic and Development Authority Secretary Arsenio M. Balisacan answer the media during the press conference on the World Economic Forum (WEF) Country Roundtable in Malacanan Palace, Manila on Tuesday, March 19, 2024. PPA POOL PHOTOS (Noel B. Pabalate)

The country must achieve at least 7.0- to 8.0-percent growth in order for this to be attainable, Brende continued.

The Philippines is currently far from hitting the trillion-dollar level, with gross domestic product valued at $475.95 billion as of 2024 according to the International Monetary Fund.

Growth last year was a below-target 5.6 percent but was still one of the highest in the region. The government is targeting 6.5- to 7.5-percent growth for 2024 and 6.5 to 8.0 percent up to 2028.

Amid ongoing global headwinds that could put the growth goals at risk, Brende indicated that the country remained on investors' radars.

"[T]he participants here that I've spoken to say that they're going in with investments in the Philippines... [because] I think there is a stable and sound fiscal policy," he said.

"Of course, there are also some geopolitical challenges that the region is faced with, but it's also an opportunity for the Philippines to get increased investment, especially in the manufacturing area, because there is diversification of the supply chains," he added.

"There are also opportunities when it comes to the knowledge base economy ... productivity can be increased by 30 percent in the coming decade."

The WEF, in partnership with the government, held a country roundtable in Manila on Tuesday. The event, which brought together global executives and local public and private sector officials for discussions about the country's growth prospects, was said to be the first high-level WEF event in the Asia-Pacific since the pandemic.

"The timing of our gathering could not have been more auspicious. These are very exciting times for the Philippines, and we want you to witness firsthand our promising growth story and become part of it," Finance Secretary Ralph Recto said in a welcome dinner on Monday.

Brende, in a statement issued by the Finance department, was said to have declared the country's prospects as "very, very promising."

President Ferdinand Marcos Jr., in a speech on Tuesday, noted that the country's potentials were previously highlighted when it hosted the 23rd World Economic Forum on East Asia 10 years ago.

"Discussions back then centered on the glowing promise and potential of the Philippines as the strongest-performing Southeast Asian economy in 2014," he said.

"Ten years later, we bear witness to the full fruition of that vision. Today, against the great odds, the Philippine economy shines as the brightest spot in the fastest-growing region in the world.

He cited government efforts to sustain the growth momentum, including over P9 trillion worth of infrastructure projects and reforms aimed at improving the ease of doing business in the country.

"We aim to cover every front at every point of your investment journey," Marcos told the roundtable participants.

He also pointed to investment opportunities in the country's first sovereign wealth fund, the Maharlika Investment Fund, and increased efforts to build trade and economic ties across the region.

"[A]ll this is a mere glimpse into the world of opportunities lying in wait here in one of the fastest-growing economies in this part of the world," Marcos said.

"Clearly, the Philippines is in a prime position to enter into a sustained period of robust economic expansion over the next couple of years."