TWENTY business groups called for the creation of a fully empowered anti-corruption body to deal with the multi-billion public works scam. “Our country urgently needs a far more empowered, broad-based, and truly independent anti-corruption body — one that is equipped with the mandate and authority that the current Independent Commission for Infrastruc-ture (ICI) does not […]TWENTY business groups called for the creation of a fully empowered anti-corruption body to deal with the multi-billion public works scam. “Our country urgently needs a far more empowered, broad-based, and truly independent anti-corruption body — one that is equipped with the mandate and authority that the current Independent Commission for Infrastruc-ture (ICI) does not […]

Anti-corruption body needs full powers — business groups

2025/12/10 23:52

TWENTY business groups called for the creation of a fully empowered anti-corruption body to deal with the multi-billion public works scam.

“Our country urgently needs a far more empowered, broad-based, and truly independent anti-corruption body — one that is equipped with the mandate and authority that the current Independent Commission for Infrastruc-ture (ICI) does not possess,” they said.

In particular, the groups, which include the Management Association of the Philippines (MAP) and the Makati Business Club (MBC), sought the urgent passage of bills that will create the Independent People’s Commission (IPC) and the Independent Commission Against Infrastructure Corruption (ICAIC).

“We also urge President Ferdinand R. Marcos, Jr. to certify the bills as urgent,” the groups added.

They said the ICI currently functions in an advisory capacity, with the power to request the presence of resource persons and recommend courses of action, including the filing of charges, the seizure of assets, or the issuance of hold-departure orders.

The ICI cannot act decisively on its own, unlike the proposed IPC or ICAIC, which will have full investigative and prosecutorial powers.

“A fully empowered IPC or ICAIC will strengthen the capacity of the Ombudsman and the Department of Justice to pursue corruption cases more effectively and restore credibility to the pursuit of integrity in public service,” they said.

“At a time when blatant and widespread misuse of public funds has eroded confidence in our institutions, our nation is confronting a profound crisis of public trust,” they said.

“The Filipino people deserve nothing less than the full truth. A truly independent IPC or ICAIC will guarantee transparency and accountability — no cover-ups, no sacred cows, no political maneuvering,” they added.

The other signatories to the statement were the Bankers Association of the Philippines, Cebu Business Club, Cebu Chamber of Commerce and Industry, Cebu Leads Foundation, Connected Women, and Federation of Filipi-no-Chinese Chamber of Commerce and Industry, Inc.

They also include the Federation of Philippine Industries, Filipina CEO Circle, Financial Executives Institute of the Philippines, FinTech Alliance Philippines, Institute for Solidarity in Asia, Institute of Corporate Directors, and NextGen Organization of Women Corporate Directors.

Also signing were the People Management Association of the Philippines, the Philippine Association of Securities Brokers and Dealers, Inc., the Philippine Women’s Economic Network, the Shareholders’ Association of the Philip-pines, and the UP School of Economics Alumni Association. — Justine Irish D. Tabile

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Bitcoin ETFs Record Strongest Inflows Since July, Push Holdings to New High

Bitcoin ETFs Record Strongest Inflows Since July, Push Holdings to New High

The post Bitcoin ETFs Record Strongest Inflows Since July, Push Holdings to New High appeared on BitcoinEthereumNews.com. In brief Bitcoin ETPs saw a net inflow of 20,685 BTC last week, driven mostly by U.S. ETFs. The recent uptick in investor risk appetite is driven by rate cut expectations and new crypto IPOs. Despite institutional demand outpacing new Bitcoin supply, realized and implied volatility remain historically low. Bitcoin exchange-traded products globally logged net inflows of 20,685 BTC last week, the strongest weekly intake since July 22, according to digital assets firm K33 Research. The renewed momentum lifted U.S. spot bitcoin ETFs’ combined holdings to 1.32 million BTC, surpassing the previous peak set on July 30. U.S. Bitcoin ETF products contributed nearly 97% of last week’s 20,685 BTC ETP inflows, highlighting the surge in demand ahead of the FOMC meeting.  Bitcoin ETF inflows “tend to be one of the key determinants of Bitcoin’s performance,” André Dragosch, head of research for Europe at Bitwise Investments, told Decrypt, adding that the “percentage share of Bitcoin’s performance explained by changes in ETP flows” has reached a new all-time high. Compared with Ethereum ETF flows, “there appears to be a ‘re-rotation’ from Ethereum back to Bitcoin in terms of investor flows,” Dragosch said, citing their data. “Over the past week, flows into Bitcoin ETFs have surpassed new supply growth by a factor of 8.93 times, a key tailwind for Bitcoin’s recent performance.”  Analysts at K33 agree, writing that flows have been a key driver of bitcoin’s strength since ETF approvals earlier last year, and the latest surge signals an acceleration in demand that could underpin further price support. In the last 30 days, investors accumulated roughly 22,853 BTC via various products, outpacing the new supply of 14,056 BTC. This rising risk appetite for Bitcoin has supported the recent recovery, Bitwise noted in its Monday report. Fidelity’s FBTC product accounted for a substantial…
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BitcoinEthereumNews2025/09/18 10:19