Good morning. As April waves goodbye, we're officially one-third of the way through 2024. 🎉 And if you're anything like us, you're probably looking back at those New Year's resolutions like they're ancient relics buried under a pile of forgotten dreams. 😅 But fear not, there's still plenty of time to dust them off and give 'em another shot! Let's make the next two-thirds count, shall we?

Stocks

Local News

💸 Debt Diaries: Philippines’ Borrowing Spree and ADB’s Cash Splash

By Tobias Bautista

So, remember those days when you'd check your bank account hoping to see more digits than you did the night before? Well, let's just say the government's feeling a bit of that right now.

In a classic case of "big spending energy," the Philippines decided to boost its 2024 borrowing program by a cool four percent, landing at a jaw-dropping P2.57 trillion. Yeah, you heard that right—trillion with a "T." 🤯

But wait, there's more! This financial fiesta isn't just about splurging—it's about strategic investment. The government's got its sights set on domestic and foreign funding sources, aiming for a 75:25 split. In other words, they're playing the borrowing game like a pro chef: a pinch of local lending, a dash of foreign credit, and voila! 🍲

Now, you might be thinking, "Isn't there a risk of racking up some hefty interest fees?" Well, you're not wrong. With higher borrowings come higher interest rates, and that's got economists raising their eyebrows like they're auditioning for a role in a suspense thriller. 😬

But fear not! Because amidst the debt drama, there's a shining beacon of hope: the Asian Development Bank (ADB). Last year, they showered the Philippines with a whopping $8.4 billion in financial assistance, making it rain on projects like public transport modernization and bridge building. 💸☔

So, while the government's tallying up its debts, it's also cashing in on some serious support from its ADB buddies. It's like having a rich uncle who always bails you out when you've spent way too much on that fancy coffee you can't pronounce. ☕💰

In the end, it's a balancing act between borrowing big and reaping the rewards. And hey, if the Philippines can pull off this fiscal feat, maybe there's hope for the rest of us and our credit card bills after all. 🙏

World News

🤖 Killer Robots?

By Tobias Bautista

Austria's urgent call to address the threat of autonomous weapons, colloquially dubbed 'killer robots,' reverberated at the "Humanity at the Crossroads" conference, gathering delegates from 143 countries. Foreign Minister Alexander Schallenberg emphasized the need for global rules to maintain human control over AI in warfare.

Despite years of UN discussions, progress has been slow, prompting concerns that the window for action is closing. Reports of AI deployed in conflicts highlight the pressing need for regulation. Mirjana Spoljaric of the Red Cross stressed the moral imperative to prevent machines from controlling violence.

Software programmer Jaan Tallinn warned of AI errors, from misidentifying objects to tragic accidents. The conference marks a critical opportunity for stakeholders to collaborate on shaping the future of warfare responsibly.

Sports

🐺 Wolves send Suns home, Clips tie it up, while Sixers and Pacers are up 3-to-1

By Koby del Rosario

After Sunday morning’s four-game frenzy of the 2024 NBA Playoffs, another slew of four games captivated basketball fans everywhere with must-watch Game 4’s.

The New York Knicks (No. 2) opened Game 4 strong against the Philadelphia 76ers (No. 7) and did not put their foot off the gas pedal in their 97-92 win. Jalen Brunson, in particular, was the deciding factor of this game as he put up an outstanding line of 47 points and 10 assists. Josh Hart and OG Anunoby were also integral in the dub with their 17 and 14 boards, respectively.

Now facing a 3-1 series deficit, Joel Embiid (27 pts, 10 rebs, 6 assts) and Tyrese Maxey (23 pts, 6 rebs, 6 assts) would need to turn it up another notch when they play in New York again to avoid elimination in Game 5.

Out in Dallas, it was a tale of two halves when the Los Angeles Clippers (No. 4) held on to their lead against the Mavericks (No. 5), 116-111. Without superstar Kawhi Leonard, wings Paul George and James Harden showcased that they still got it with 33-points apiece to go with 8 and 7 assists, respectively. The series is now tied at 2-2 with both teams going back to Cali for Game 5.

Coming up short of a historic 31-point comeback, Kyrie Irving had a 40-piece while Luka Doncic had a triple double of 29 markers, 10 boards, and 10 dimes.

All the way in Indiana, the Pacers (No. 6) took advantage of a depleted Milwaukee Bucks (No. 3) squad to take home the victory, 126-113. Center Myles Turner was named Player of the Game as he posted up 29 points, 9 caroms, and three blocks. Meanwhile, All-Star Tyrese Haliburton had 24 of his own as Indiana now leads the series, 3-1.

As the injury bug continues to haunt them, the Bucks would need an immense comeback as Khris Middleton’s 25 markers and 10 rebounds and Brook Lopez’s 27 was not enough to secure the victory.

Back in Texas, the Minnesota Timberwolves (No. 3) swept the Phoenix Suns (No. 6) to advance to the second round after their 122-116 triumph. Anthony Edwards continues his meteoric playoff rise as he scored 40 points, grabbed nine boards, and dished out six assists while supplementing him in the frontcourt was Karl-Anthony Towns with 28 and 10.

After a disappointing 0-4 series against the T-Wolves, Phoenix heads into the off-season after Kevin Durant (33 pts, 9 rebs) and Devin Booker (49 pts, 6 assts) went down swinging.

Later today, a double-header of Game 4’s and a do-or-die Game 5 headline the 2024 NBA Playoffs.

🏎 Who will join Nico Hulkenberg at Kick Sauber?

By Koby del Rosario

As it was already announced that F1 driver Nico Hulkenberg will be let go by his current team, Haas, after the 2024 season, fans did not have to wait long before up-and-coming team, Kick Sauber, signed him to race for them in 2025.

With only eight racers confirming their seats for 2025 thus far, the whole motorsports community speculates on who could join Hulkenberg at Kick Sauber next year. 

It could be the likes of Ferrari's Carlos Sainz, who has long been without a guaranteed contract for 2025. Both Zhou Guanyu or Valtteri Bottas could also stay despite their expressions on looking to move to (even) greener pastures. Ollie Bearman—the young driver who shined earlier this season when he filled in for the then-injured Sainz—could also be due for a call-up

With a pool of newbies and veterans in play, we shall wait and see what's in store for the team that’s aiming to make a mark in the scene.

News Roundup

• Columbia University threaten to suspend Students camping on campus in support of Palestine.

• Being the first day of a three-day nationwide transport strike and the deadline for jeepney franchise consolidation, transport groups plead the Supreme Court to suspend the public utility vehicle modernization program (PUVMP), saying it would hurt the industry and general public.

• Bell-Kenz Pharma (pharmaceutical company) has been called for a senate probe due to unethical practices. This includes giving rebates of up to 2 million pesos to doctors who prescribe their firm’s medicines.

Games

🎯 How well do you know the Philippines? (Answers in the bottom)

1. Where is the culinary capital of the Philippines (hint: they made sisig famous!)?

2. Who was the first Filipino saint venerated by the Roman Catholic Church?

3. The Philippines is one of two places in the world where you can order which McDonald’s item?

4. Which church was named a UNESCO World Heritage site in 1993?

5. What is the name of our national anthem?

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Answers

1. Pampanga

2. Saint Lorenzo Ruiz

3. McSpaghetti

4. Paoay Church

5. Bayang Magiliw Lupang Hinirang