‘Domino effect’ of wage hike seen

Good morning. Wage boards looked to the capital last week as senators attempted to pass a salary hike that would increase the daily pay of workers in Metro Manila by P40. This is as wage hike talks in five regions move forward to advanced stages of consultations.

The increase in daily pay will be a much needed balm to Filipino workers as local food prices increase due to El Ni?o . Fuel prices also rose from P1.80 to P2.10 last July 18.

Meanwhile, a five-year dispute over the future of The Medical City (TMC) is seen to end as CVC Capital Partners acquires a majority stake in the company. TMC's top stakeholders have been engaged in bitter dispute since 2018—a scenario that hopefully the new chair of Asia United Bank will avoid in his camp.