Cayetano blasts Senate majority for criticisms, 'intrigues', 'ulterior motives' in ouster — ANC

[0:00] Tonight, Philippine Senate President Sherwin Gatchalian declares an end to the chamber's infighting a day after he was installed as its leader. [0:08] But his immediate predecessor, Alan Cayetano, is not yet done criticizing the new majority bloc. [0:14] Victoria Tulad has tonight's top story. [0:19] This was the directive of newly installed Senate President Sherwin Gatchalian in his first press conference on Thursday as Senate President. [0:30] He said the Senate is back-to-work season now. [0:34] In the next few weeks, we'll have the lead-up bills that we should finish and we'll have the preparations for the impeachment on July 6. [0:46] But it seems the fireworks aren't over just yet. [0:49] Former Senate President Alan Peter Cayetano took to Facebook anew on Thursday to respond to issues and blast members of the new majority bloc. [0:57] He reacted to the social media post of Sen. Panfilo Laxon, who said the Senate lost P700 million pesos in the 28 days that Cayetano was Senate President. [1:08] Laxon said, under Cayetano, the output was chaos, gunfire, Sen. Ronald Bato de la Rosa's supposed escape, and a session boycott. [1:17] But Cayetano claims it was the Gatchalian bloc that did not want to work, [1:21] since it supposedly did not assign its members to committees when Cayetano took over on May 11. [1:27] Sabi ko tutal, magaling mag-divide sila Sen. Laxon, very divisive. [1:33] Dinibide ko, 700 divided by 28 days is 25 million. [1:39] Yun din naman ang ginawa ni Sen. Wynn, tinignan niya lang yung budget ng Senado, [1:43] tapos dinibide niya, nakuha yung 25 million a day. [1:47] So nasaan yung intellectual dishonesty? [1:50] Cayetano also accused Sen. Raffi and Erwin Tulfo of sowing intrigues. [1:56] Kasi magaling naman talaga sila mga intriga eh. [1:58] Nagte-take turns lang naman po, si Raffi Tulfo, si Erwin Tulfo, si Sen. Ping Laxon, [2:05] tapos yung iba sa grupo nila, yung tag-team lang yun, para, oh, kayo naman manginiskayalan, [2:09] kayo naman magkalat ng hindi totoo. [2:11] Cayetano also claiming the Gatchalian bloc had ulterior motives in securing the Senate presidency. [2:16] Gusto nyo, grupo nyo ang magdikta ng tempo through the presiding officer. [2:24] That's been very clear to us from the start. [2:26] Pero number two lang pala yung impeachment. [2:28] Ang number one, yung cover-up dito po sa flood control. [2:34] ABS-CBN is still trying to get the side of Gatchalian, Laxon, and the Tulfos. [2:38] Senate President Sherwin Gatchalian has not yet spoken with former Senate President Alan Pitoy Cayetano. [2:46] Gatchalian says, however, that his office is always open and that he is ready to reach out to the former Senate leader. [2:54] Meanwhile, Gatchalian says the Senate will cooperate with the investigation of authorities [2:58] on the May 13 shooting incident at the upper chamber. [3:02] On Wednesday, Justice Secretary Frederic Vida said the Senate was not under attack, contrary to what Cayetano previously asserted. [3:10] Vida also said those who helped De La Rosa escape would be held accountable. [3:14] I have to read the final report. Ano ba yung context ng kanyang statement na yun? [3:20] I've discussed this with members of the OSAHA. [3:23] Nag-meeting na kami. [3:26] It's a very sensitive topic yan sa kanila. [3:29] Kasi siya directly involved. [3:31] So I don't want to discuss anything beyond what is coming out of that official report. [3:39] In fairness to OSAHA and in fairness to the people involved rin. [3:42] Asked if there's a need for the Senate to have its own investigation on the gunfire, [3:47] Gatchalian said it is better left with authorities as the Senate cannot investigate itself. [3:53] Victoria Tulad, ABS-CBN News. [3:57] House prosecutors and defense lawyers met Thursday to identify potential witnesses [4:02] in the impeachment trial of Philippine Vice President Sara Duterte. [4:06] Agatha Gregorio reports. [4:08] The pre-trial conference for the impeachment trial of Vice President Sara Duterte kicked off Thursday. [4:16] House impeachment prosecutors and the defense team of Vice President Sara Duterte [4:19] faced off for the first time to mark evidence, identify witnesses, and agree on trial dates. [4:26] According to Duterte's camp, they were able to take care of one article of impeachment [4:29] relating to alleged bribery. [4:31] May isang article po na tapos na yung marking, pero the three articles hindi pa. [4:38] I think there's one other article na maaring either matapos ngayon or early Monday, [4:44] pero yung meron tayong dalawang article na marami talagang mga dokumento. [4:48] BOA says they hope to present around 25 to 30 witnesses. [4:52] Both the defense and the prosecution say there was no tension during the pre-trial conference. [4:58] Rather than tension, I think normal adversarial proceedings yung nangyari, [5:03] which is that may disagreements on points na dapat pag-agrihan in a pre-trial conference, [5:12] which is yun nga po yung proposed stipulations, statements of issues, etc. [5:16] So wala naman pong ganong pagtaasan ng boses. [5:19] Lalo na na sa pre-trial, normal naman yung mga disagreements. [5:23] But even then, I think it was good because we were both parties [5:27] and were able to settle differences at parang magpadali. [5:31] BOA says to speed up the process, [5:33] they agreed to simply submit comments on proposed stipulations in writing. [5:37] Among those present were House prosecutors Jerva Luistro, Terry Redon, and Laila Delima, [5:42] as well as private prosecutors, including attorney Lorna Capunan. [5:45] At one point, Luistro, Delima, and some prosecutors transferred to another room with BOA [5:50] while the pre-trial conference was suspended. [5:53] BOA explained they were simply discussing how to expedite the process. [5:57] BOA says the next pre-trial conference will be held on Monday. [6:01] House impeachment trial spokesperson Rene Coe called it unfortunate [6:04] that the vice president was not present in the meeting. [6:08] Coe hopes Duterte will attend the trial proper, but BOA notes this is still up in the air. [6:12] This is a direct opposite of what we have heard in the previous months, [6:18] that she will appear in the proper forum, which now is the impeachment court. [6:24] Para sa amin, para sa taong bayan, mas magiging tapat yung kanyang sinasabi [6:32] na wala siyang kasalanan kung may pakita niya na siya mismo ang humarap sa impeachment court. [6:40] In this case, in the pre-trial court. [6:42] Meantime, Senate President Sherwin Gachalian confirms [6:45] the Sandigan Bayan's 90-day preventive suspension against Senator Jinggoy Estrada [6:50] means he will be unable to take part in the trial as a senator judge. [6:54] From what I understand, pag suspended ka as a senator, [6:58] kasama na rin dun yung being a senator judge. [7:01] Itong 90-day suspension, hindi bago ito. [7:04] Nangyari na ito in the past with other senators. [7:06] So kung ano yung naging practice in the past and ano ang legal practice in the past, yun ang susundan natin. [7:15] Gachalian also says they will still discuss who will be the presiding officer [7:19] despite reports Senator Francis Escudero would take on this role. [7:23] Pag-uusapan muna. [7:24] But right now, as it stands in the rules, I will preside. [7:27] Gachalian believes the pending petition of the Cayetano bloc before the Supreme Court [7:32] will not have any impact on the trial. [7:35] Cayetano had asked the High Court to invalidate the Senate's June 3 session [7:38] where impeachment rules were amended to allow a different presiding officer. [7:43] Gachalian has said two-thirds of all 24 members, or 16 votes, is required for conviction. [7:48] According to Gachalian, they will have an all-senators caucus before the impeachment trial on July 6 [7:54] to discuss relevant topics, including the Senate's security. [7:58] Senator Panfilo Lacson said it is also possible that the impeachment court [8:02] will designate an impeachment manager to assist the presiding officer. [8:06] Lacson says this is similar to the role of a Senate majority leader. [8:10] Meanwhile, a recent survey by Okta Research shows [8:13] most Filipinos are skeptical of the Senate's possible handling of the impeachment trial. [8:18] The poll conducted on April 2024 but only released Thursday [8:22] showed that only 19% of 1,200 respondents believe [8:26] that most senator judges will decide based on evidence and the law [8:30] rather than political considerations. [8:33] Okta reported that skepticism in the impeachment trial [8:36] was most pronounced in Mindanao [8:38] while uncertainty was highest in Metro Manila and Balans, Luzon. [8:43] Agatha Gregorio, ABS-CBN News. [8:45] Philippine Senator Bong Goh insists he has violated no laws [8:50] amid claims the International Criminal Court has ordered his arrest. [8:54] Davao City Congressman Paulo Duterte earlier said [8:57] he was told by a highly reliable source [9:00] that the Hague-based tribunal had already issued an arrest warrant for Goh. [9:04] The senator has been identified in ICC documents [9:07] as a co-accused of Rodrigo Duterte [9:09] in the former president's crimes against humanity case. [9:12] The Interior Secretary says authorities have not received any formal notice [9:17] of a supposed warrant for Goh. [9:19] Baka-baka sabog nung sinabi niya eh [9:22] kasi siya lang nakakita nung, sakapin nung sabi ng walape. [9:26] Sabi niya highly reliable source. [9:28] Baka high lang. [9:31] Malakanyang rejects the accusation of Congressman Duterte [9:34] that the Marcos Jr. administration [9:35] is using ICC arrest warrants to target its opponents. [9:39] Palace Press Officer Claire Castro points out [9:42] that Duterte's ICC case did not begin with the current administration [9:46] but was based on complaints filed by Filipinos in 2017. [9:50] The ASEAN-Russia Commemorative Summit kicks off [9:55] in the central Russian city of Kazan [9:57] with a focus on regional stability and economic prosperity. [10:01] The Philippine president and current ASEAN chair [10:04] cites big opportunities to expand areas of cooperation [10:07] between Manila and Moscow. [10:09] Katrina Domingo reports from Kazan, Russia. [10:14] President Ferdinand Marcus Jr. outlined three priorities [10:17] in ASEAN's dialogue and cooperation with Russia [10:20] in the coming years. [10:21] First, ensuring the region's peace and stability. [10:24] Second, doing more economic opportunities [10:26] for micro, small and medium enterprises [10:28] in Russia and Southeast Asia. [10:31] And third, continuing scholarship programs, [10:33] cultural exchanges and other efforts [10:35] to help Russians and Southeast Asians [10:37] develop closer relations, [10:38] even at the civilian level. [10:40] We must strengthen practical cooperation [10:43] on maritime security and counter-terrorism, [10:47] reinforce our collective resilience in cyberspace, [10:50] and develop the institutional habits of anticipation [10:53] rather than mere reaction. [10:57] The Filipino leader adds that the region [10:59] must also be more ambitious [11:00] in expanding economic opportunities across the globe. [11:03] Our trade and investment ties have grown, [11:07] but they have yet to reach full potential. [11:10] We must be more deliberate and more ambitious [11:12] in expanding economic opportunities, [11:15] improving trade facilitation, [11:17] deepening investment flows, [11:19] and connecting our business communities. [11:22] Food and energy security deserve a particular attention. [11:26] ASEAN and Russia are expected to release [11:28] the Kazan Declaration after the commemorative summit. [11:31] It is a framework on how the two parties [11:33] would work together in the next few years [11:35] to mutually benefit from the partnership. [11:38] Indeed, our meeting went very well, [11:41] it was very productive, [11:43] and it was held in a friendly [11:44] and business-like atmosphere. [11:46] Fruitful partnership. [11:48] Strategic dimensions of cooperation [11:50] between Russia and ASEAN countries [11:52] for the future are enshrined [11:55] in the outcome document of the summit, [11:58] Kazan Declaration. [11:59] It highlights specifically the commitment [12:01] of all of our states [12:03] to building a just and democratic, [12:06] multipolar world order. [12:08] We remain committed to ensuring [12:10] that the momentum generated at the summit [12:12] translates into concrete outcomes [12:14] and meaningful cooperation. [12:17] On behalf of ASEAN, [12:19] I express my appreciation to President Putin [12:21] and the government of the Russian Federation [12:23] for the warm hospitality [12:25] extended to all the delegations [12:27] for this commemorative summit. [12:29] As we mark this important milestone, [12:32] we look forward to working closely with Russia [12:35] to further strengthen our partnership [12:37] and to build a more peaceful, [12:40] resilient, and prosperous future [12:42] for our regions. [12:44] Meantime, in a separate bilateral meeting, [12:46] Marcos and Russian President Vladimir Putin [12:48] agreed that there is a big opportunity [12:50] for Manila and Moscow [12:51] to expand their businesses [12:53] in each other's jurisdictions. [12:55] Among the low-hanging fruits [12:56] are the energy and agricultural sectors [12:58] as Russia is considered to be [13:00] the most oil-rich country in Europe, [13:02] while the Philippines is a major producer [13:04] of fruits, high-value crops, [13:06] and seafood that are in demand [13:08] but scarce in Russia. [13:10] There are many potential areas [13:12] that I think we should, [13:14] that are still open to explore. [13:16] And I think that the present level of trade, [13:19] although it is steady, [13:23] I think that there is a great deal more [13:26] that we can do. [13:28] Data from the ASEAN secretariat [13:29] show that as of 2024, [13:31] bilateral trade between ASEAN and Russia [13:33] reached some 18.13 billion U.S. dollars. [13:36] But Putin says that in 2025, [13:38] bilateral trade between the Philippines [13:40] and Russia was only at 500 million U.S. dollars, [13:43] or less than 3% of Russia's total trade [13:45] with the 11-member regional bloc. [13:47] Of course, this is far from the limit, [13:50] and of course there is a good potential [13:52] to enhance supplies of agriculture [13:56] and energy resources. [13:59] Today we have a good opportunity, [14:01] Mr. President, [14:02] to evaluate the current state [14:04] of the Russia-Philippine cooperation. [14:07] Malikanyang has yet released details [14:09] if deals were finalized [14:10] during Marcos and Putin's [14:12] first bilateral meeting. [14:13] But Philippine ambassador to Russia, [14:15] Igor Bailen, earlier said [14:16] that Russian airlines are already preparing [14:18] to mount more flights to the Philippines. [14:21] There is the Russian market to be top. [14:24] They are interested, [14:26] and they have the resources [14:27] because we know that compared to other countries, [14:31] the Russians per capita, [14:33] they will be more expensive in terms of tourism. [14:37] So that's what we have developed. [14:40] In the meantime, [14:41] Marcos personally invited Putin [14:42] to travel to Manila in November [14:43] for the East Asia Summit, [14:45] an annual forum [14:46] where ASEAN countries invite other nations [14:48] outside the region [14:49] to tackle economic, [14:50] political, [14:51] and security issues. [14:52] As chair of ASEAN, [14:54] I may I personally extend my invitation [14:56] to your excellency [14:57] to attend the 21st East Asia Summit. [15:00] The East Asia Summit [15:02] remains an integral part [15:04] in maintaining a regional architecture [15:06] towards our shared goal [15:07] of a stable, secure, [15:10] and prosperous region. [15:12] While Russia has been ASEAN's dialogue partner [15:14] since 1996, [15:15] and Putin has been in power since 2012, [15:18] the Russian leader [15:18] has never flown to Manila [15:20] on an official capacity. [15:22] Katrina Domingo, [15:23] ADS-CBN News, [15:24] Kazan, Russia. [15:25] A coaching staff [15:27] of the Ateneo men's basketball team [15:29] faces the National Bureau of Investigation [15:31] to help shed light [15:33] on the drowning [15:33] of two of their student athletes. [15:35] The Philippine Interior Chief [15:37] says a full report on the tragedy [15:39] will be submitted next week [15:40] to the Justice Department. [15:42] This report from Allison Cole. [15:46] Ateneo Blue Eagles men's basketball team [15:48] assistant coach Sandro Soriano [15:50] appeared on Thursday [15:51] before the National Bureau [15:53] of Investigation [15:53] to give his statement [15:55] on the June 8 team-building activity [15:57] in the province of Aurora [15:58] that resulted into the deaths [16:00] of student-athletes [16:01] Rene Batarbonha [16:02] and Divine Adili. [16:03] Soriano is the first member [16:05] of the Ateneo coaching staff [16:06] to personally appear [16:07] before authorities [16:08] after he failed to attend [16:10] the NBI's initial hearing [16:11] last Tuesday. [16:12] According to his legal counsel, [16:14] attorney Raymond Rojas, [16:15] Soriano was unable to attend [16:17] due to severe emotional distress. [16:18] We submitted a certificate [16:20] of the Ateneo [16:21] of the guidance to the counseling [16:22] attesting that Coach Soriano [16:24] is in legal treatment [16:25] and he's in emotional distress now. [16:28] Soriano spent nearly four hours [16:29] inside the Homicide Division. [16:31] He declined to give any statement. [16:33] Meanwhile, more players [16:34] from the basketball team [16:35] also submitted their sworn statements [16:37] to the NBI [16:37] as well as the CIDG, [16:39] which is also conducting an investigation [16:41] into the tragedy. [16:42] Among them is team captain [16:44] Jared Bahay. [16:45] NBI Director Matibag says [16:46] other members of the coaching staff [16:48] including head coach [16:49] Taab Baldwin [16:50] are expected to appear on Friday. [16:52] An immigration lookout [16:53] bulletin order [16:54] has already been issued [16:55] against Soriano and Baldwin [16:56] as well as three other members [16:58] of the coaching staff [16:59] including team manager [17:00] Epo Quimpo. [17:02] Meanwhile, [17:02] Philippine Police Chief [17:03] Jose Melencho Nartates Jr. [17:05] and Interior Secretary [17:06] John Vicremulia [17:07] met with CIDG officials [17:08] as authorities worked [17:10] to determine the potential liability [17:11] of those involved in the incident. [17:13] Hindi pa natin masabi kung [17:15] with definite numbers, [17:18] who, [17:20] ayan, [17:21] at saka anong case. [17:22] Bibilisan natin. [17:22] We are utilizing [17:24] almost all of the investigators. [17:27] May namatay eh. [17:28] Basta may namatay [17:28] may liability lagi yan. [17:30] Pero kung para masabi ko [17:32] sino liable, [17:32] hindi ko pa masabi ngayon. [17:34] Remulia says [17:35] they expect to submit [17:36] their full report [17:37] on the drowning incident [17:38] on Tuesday. [17:39] The CIDG earlier said [17:40] based on its initial findings, [17:42] the tragic incident [17:43] in Dipakulau, Aurora [17:44] was not an accident [17:45] and they are considering [17:46] possible homicide charges [17:48] or violations [17:49] of the Anti-Hazing Act of 2018. [17:52] Alison Ko, [17:53] ABS-CBN News. [18:01] Tanker traffic [18:02] resumes in the Strait of Hormuz [18:04] after the U.S. and Iran [18:05] signed an agreement [18:06] to end their war. [18:07] Three Saudi-flagged [18:08] supertankers [18:09] carrying 6 million barrels [18:11] of crude [18:11] were the first [18:12] to cross the waterway [18:13] hours after the deal [18:15] was signed. [18:16] U.S. President Trump [18:17] put his signature [18:18] on the Memorandum [18:19] of Understanding [18:19] to End the War [18:20] as did Iran's President [18:22] Mazud Pezeshkian. [18:24] This brought the deal [18:25] into effect [18:26] two days earlier [18:27] than previously expected. [18:29] The deal calls [18:29] for the immediate opening [18:30] of the Strait of Hormuz [18:31] and the lifting [18:32] of a U.S. blockade [18:34] off Iran's ports. [18:35] It also starts the clock [18:37] on a 60-day negotiation period [18:39] to reach a final settlement [18:40] to the war. [18:43] U.S. Defense Secretary [18:44] Pete Hegseth [18:45] announces a review [18:46] of America's troop deployments [18:47] in Europe. [18:48] Hegseth spoke [18:49] to defense ministers [18:50] at the NATO headquarters [18:52] in Brussels. [18:53] He blamed America's [18:54] European allies [18:55] of relying entirely [18:56] on the U.S. [18:57] while underspending [18:58] their military budgets. [19:00] Hegseth says [19:00] the U.S. review [19:01] could take up to six months. [19:03] He says this aims [19:04] to get Europe [19:05] to do more [19:05] in terms of security [19:07] while ensuring [19:08] the U.S. military [19:09] can meet [19:10] its global commitments. [19:11] The Pentagon chief [19:12] also threatened [19:13] to withhold [19:13] U.S. contributions [19:14] to NATO [19:15] if its European members [19:17] did not meet [19:17] their defense spending [19:19] commitments. [19:21] Heavy rains [19:22] prompt severe [19:22] flood warnings [19:23] in Hong Kong. [19:24] The special [19:25] Chinese administrative [19:26] region raised [19:27] its highest rain signal [19:28] Thursday, [19:29] forcing schools [19:30] and businesses [19:30] to close. [19:32] The city has had [19:32] several days [19:33] of strong rain [19:34] due to an active [19:35] southwest monsoon. [19:36] Similar disaster warnings [19:38] were issued [19:38] by authorities [19:39] across the border [19:40] in Shenzhen. [19:48] The Philippine [19:48] securities regulator [19:50] says it has secured [19:51] an Interpol red notice [19:53] against Mika Tan, [19:55] the businesswoman [19:55] accused of orchestrating [19:57] a massive [19:57] fraudulent investment scheme. [19:59] Tan is the founder [20:00] and CEO [20:01] of the MFT group [20:03] of companies. [20:04] She faces multiple [20:05] arrest warrants [20:06] in the Philippines [20:06] including a no-bail [20:08] warrant for syndicated [20:09] estafa. [20:10] Tan is accused [20:11] of deceiving investors [20:12] with promises [20:13] of lofty returns [20:14] and offering securities [20:16] without SEC registration. [20:18] The Interpol red notice [20:20] allows global law enforcement [20:21] to locate [20:22] and provisionally [20:23] arrest Tan [20:24] to face extradition. [20:28] The Philippine Central Bank [20:29] raises key interest rates [20:30] for a second time [20:31] this year [20:32] as war-driven [20:33] inflationary pressures [20:35] remain. [20:36] It's also not [20:37] closing its doors [20:38] to more rate hikes. [20:40] Jackie Pascual reports. [20:43] The monetary board [20:44] has raised [20:45] the policy rate [20:46] by 25 basis points [20:47] to 4.75 percent. [20:49] This is the second [20:50] interest rate hike [20:51] this year [20:52] and since October 2023 [20:54] as authorities [20:55] try to slow down [20:56] borrowing and spending [20:58] to tame high inflation. [21:00] Central Bank Governor [21:01] Elie Remolona Jr. [21:02] says [21:03] inflationary pressures [21:04] remain strong [21:06] due to the Middle East [21:07] conflict [21:07] and its second round [21:09] effects. [21:10] Monetary tightening [21:11] is still warranted. [21:14] Today's policy action [21:15] will help keep [21:17] inflation expectations [21:18] anchored [21:19] and will mitigate [21:21] the risk [21:22] of second round [21:23] effects. [21:25] The central bank [21:25] also raised [21:26] its inflation forecast [21:27] for 2026 [21:28] from 6.3 percent [21:30] to 6.4 percent [21:33] and for 2027 [21:34] from 4.3 [21:36] to 4.5 percent. [21:38] These are above [21:39] the government target [21:40] of 2 to 4 percent. [21:42] Average inflation [21:43] could be beyond [21:44] the tolerance range. [21:46] The target [21:47] for inflation [21:47] is 3 percent [21:48] with a plus-minus-one [21:50] tolerance range. [21:52] But it will be [21:54] on a downtrend [21:54] but it could [21:56] take some time. [21:58] Remolona says [21:59] there could be [22:00] more rate hikes [22:01] if inflation [22:02] remains elevated. [22:04] You could go [22:05] with what I call [22:07] baby steps [22:08] so that if [22:10] something [22:12] unexpected [22:13] happens, [22:14] you can always adjust. [22:15] You can always [22:16] have an off-cycle. [22:17] I think [22:17] 25 basis points [22:20] is possible, [22:21] 50 basis points [22:22] is possible [22:22] depending on [22:24] the data [22:26] that we see [22:27] going forward. [22:29] The BSP says [22:30] even with a newly [22:31] signed peace deal [22:32] between the U.S. [22:33] and Iran, [22:34] it would still [22:35] take months [22:36] for the situation [22:37] to normalize [22:38] and for oil prices [22:39] to return [22:40] to pre-war levels. [22:42] Jackie Pascual, [22:43] ABS-CBN News. [22:45] The Philippines [22:47] stock market [22:47] returned to [22:48] positive territory [22:49] despite another [22:50] rate hike [22:51] by the country's [22:51] central bank. [22:52] The details [22:53] in this report. [22:56] Most Asian markets [22:57] were higher [22:57] on Thursday [22:58] with risk sentiment [22:59] back after the [23:00] signing of the [23:00] peace deal [23:01] between the U.S. [23:02] and Iran. [23:03] Today's session [23:03] while pushing [23:04] a gauge of forces [23:05] in the region [23:05] up for a fifth day [23:07] also came with [23:07] sobering news. [23:09] The Federal Reserve [23:09] still seen hiking [23:10] interest rates [23:11] later this year [23:12] as a result [23:13] of the war. [23:14] Here at home, [23:14] Philippines shares [23:15] similarly higher [23:16] as the Iran deal [23:17] coupled with [23:18] improved inflation [23:19] data last month [23:20] helped avert [23:21] a rate hike [23:21] bigger than expected [23:22] from the central bank. [23:24] For the day, [23:25] the PSE index [23:25] climbed by [23:26] six-tenths of a percent [23:27] closing at 61-53. [23:30] This is apparently [23:31] a shift. [23:32] This is a dovish hike [23:34] because earlier [23:35] the BSP was signaling [23:37] they're going to do [23:38] like maybe [23:39] an off-cycle rate hike [23:41] of as much [23:42] as 50 basis points. [23:43] That was prior [23:44] to the beginning [23:45] of the end [23:45] of the war [23:46] prior to the [23:47] U.S.-Iran MOU. [23:49] And so oil prices [23:50] were then still [23:51] very high [23:51] and inflation [23:52] would likely [23:53] be very sticky. [23:55] But now that [23:56] the war has ended, [23:57] oil prices [23:58] in the global market [23:59] have eased. [24:00] And so I think [24:01] that's very favorable [24:02] for the BSP. [24:03] It gave them leeway, [24:05] a lot of room [24:06] to ease [24:07] on the rate hikes, [24:09] become less aggressive [24:11] in terms of the pace [24:13] and the scale [24:14] of the rate hike. [24:16] In corporate stories, [24:17] Merrimart is proceeding [24:18] with its delisting [24:19] from the Philippine Stock Exchange. [24:21] The company said [24:21] today 99% [24:22] of its shareholders [24:23] backed Double Dragon's [24:25] acquisition of Merrimart [24:26] following a tender offer [24:27] worth 758 million pesos. [24:30] Merrimart shareholders [24:31] were offered the chance [24:32] to stay as Double Dragon [24:33] shareholders [24:34] with good exchange [24:35] valuation of 9 pesos [24:36] and 30 centavos apiece. [24:39] The retailer went public [24:40] in 2020. [24:41] Double Dragon chairman [24:42] Ingepsia II [24:43] said the takeover [24:44] will help streamline [24:45] Merrimart's operations [24:46] as well as [24:47] cost-effectiveness measures. [24:49] He added the integration [24:50] of Merrimart [24:51] into Double Dragon [24:52] is part of the developers' [24:53] plan to expand [24:54] their business [24:55] across all provinces [24:56] in the Philippines. [24:59] And finally, [24:59] from SSI Group, [25:00] the Philippine distributor [25:01] of high-end brands [25:02] marks a third straight year [25:03] in the Fortune [25:04] Southeast Asia 500 list. [25:06] SSI says its inclusion [25:08] in that list [25:09] reflects the strength [25:10] of its business, [25:10] the enduring appeal [25:12] of its brand portfolio, [25:13] as well as its efforts [25:14] to adapt to evolving [25:15] consumer and market trends. [25:17] It also views the recognition [25:19] as proof of the company's [25:20] collective efforts, [25:21] its continued engagement [25:22] with customers, [25:23] as well as the trust [25:24] of its brand partners.