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Marcos admin eyes building 20 new dams by 2028
To meet the country’s growing demand for water and power, the government is eyeing to build 20 medium and three to five large dams by 2028, the end of President Marcos’ term, according to National Irrigation Administration head Eduardo Guillen......»»
Over 40 defective weighing scales seized in Carbon Market
CEBU CITY, Philippines — The Office of the City Markets (OCM) of the Cebu City Government has confiscated over 40 defective weighing scales in Carbon Public Market as of March 21. Led by Market Administrator Robert Barquilla, the operation, dubbed “Operation Timbangan,” aims to ensure accurate measurements for customers. Barquilla, with assistance from Task Force.....»»
Milk tariff collections rise by 31% to P2.4 billion
Revenues raised by the government from various imported milk products jumped by 31 percent to P2.36 billion in 2023, the highest in at least eight years, from P1.8 billion in 2022......»»
Poe: State of calamity won’t solve Metro traffic
With an estimated P3.5 billion in economic losses incurred per day due to traffic congestion, the government should listen to experts and stakeholders to address the monstrous traffic jams in Metro Manila, Sen. Grace Poe said yesterday......»»
Excise tax on single-use plastics to yield P34 billion
The move to slap excise taxes on single-use plastics is seen generating P34 billion for the government and curbing the increasing mismanagement that contributes to overall pollution......»»
Government sets P585 billion borrowings in Q2
The government is set to borrow P585 billion from the domestic market in the second quarter amid hopes of more favorable interest rates here and abroad......»»
‘P7 billion senior high vouchers went to non-poor’
Aside from around 19,000 “ghosts” or undocumented students receiving government assistance, more than P7 billion was spent on non-poor beneficiaries of the senior high school voucher program (SHS-VP), according to Sen. Sherwin Gatchalian......»»
Government cuts borrowings to P203 billion in January
The Marcos administration slashed its borrowings by 45 percent to P203 billion at the onset of the new year in the absence of new global bond offerings.......»»
PPPs eyed for offshore wind farms in ports
The government may consider public-private partnerships (PPPs) in its plan to transform ports into offshore wind projects, as it could take as much as $80 million to redevelop each one of them......»»
Abalos: P21 billion drugs seized since BIDA’s start in 2023
At least P21 billion worth of illegal drugs were confiscated since the start of the government’s BIDA or Buhay Ingatan, Droga ay Ayawan flagship program last year, Interior Secretary Benjamin Abalos Jr. said yesterday......»»
Philippines, US allot P1.15 billion to fight TB
The Philippines, through the Department of Health (DOH), and the United States government, through the US Agency for International Development (USAID), have teamed up to finance a P1.15-billion campaign against tuberculosis (TB) in the country......»»
Recto sees ‘realistic’ 6-6.5 percent growth for Philippines
Finance Secretary Ralph Recto is looking at a “more realistic” economic growth of at least six to 6.5 percent for this year, with medium-term economic expansion likely to be tempered as well......»»
Bank loans used as RRR compliance hit P6.4 billion
Mid-sized and small banks have extended around P6.4 billion loans to micro, small and medium enterprises (MSMEs) as well as large companies, and booked these loans in compliance with their reserve requirement ratios, according to the Bangko Sentral ng Pilipinas......»»
Philippine bond market hits $217 billion in Q4
The Philippine bond market went up slightly in the fourth quarter of 2023 due to the increase in government bond issuances, according to a report from the Asian Development Bank......»»
Biden to Host Japan PM Kishida, Philippines President Marcos
WASHINGTON - President Joe Biden will host Japanese Prime Minister Fumio Kishida and Philippines President Ferdinand Marcos Jr. for a White House summit next month amid growing concerns about North Korea's nuclear program, provocative Chinese action in the South China Sea and differences over a Japanese company's plan to buy an iconic American steel company.White House press secretary Karine Jean-Pierre in a sta.....»»
Losses to Philippine agriculture due to El Nino reach 31 mln USD
MANILA, March 20 (Xinhua) -- The El Nino dry spell and ensuring drought have caused over 1.75 billion pesos (roughly 31 million U.S. dollars) in damage to Philippine agriculture, a senior government official said Wednesday. This year's losses due to El Nino are still low compared to 2009 when the damage to agriculture reached 17 billion pesos (302 million dollars), Presidential Communications Office Assistant Se.....»»
One Piece star Mackenyu wants to visit Palawan, Boracay
"One Piece" live action star Mackenyu revealed that he wants to go to Palawan and Boracay. .....»»
Belgian wealth fund managers to explore Phl investments
Belgium’s sovereign wealth fund managers are looking to visit the country to explore investments in Philippine firms engaged in a range of public services, the Department of Finance said Saturday. DoF Secretary Benjamin Diokno and officers of the Federal Holding and Investment Company or La Société Fédérale de Participations et d’Investissement discussed opportunities in public-private partnerships in finance, aeronautics and mobility, health, utilities and impact investing. “Koenraad Van Loo, CEO of SFPIM, shared that the company is keen to visit the Philippines to explore partnerships in its priority sectors,” a statement from the DoF said. “SFPIM preserves the long-term stability of the Belgian economy by contributing to the anchoring of strategic assets through smart capital solutions for both promising and established companies,” the DoF added. According to the 2023 World Competitiveness Ranking, Belgium is 13th out of 64 countries in economic performance. The country is also among the top in business efficiency at fifth place and tenth in infrastructure. The Philippines, on the other hand, ranks 40th in economic performance and business efficiency, and 58th in infrastructure. Long-term economic growth President Ferdinand Marcos Jr. has vowed to boost infrastructure development for national long-term economic growth through proceeds from the Maharlika Investment Fund which his administration expects to be activated before the end of the year. The Philippine sovereign fund is open to local and foreign investors in the public and private sectors, and aims to support 197 flagship infrastructure projects worth a total of some $155 billion. Diokno said the DoF has met with foreign government and business leaders at the European Union’s first Global Gateway Forum last 25 to 26 October in Brussels, Belgium to also discuss the Philippine sovereign fund. The Finance Secretary said he talked to the Belgian Investment Company for Developing Countries or BIO led by its chief executive officer Luuk Zonneveld. “Discussed were opportunities to finance projects in the Philippines that drive sustainable development, particularly gender equality, climate action, and decent work,” he said. BIO uses private funds to support small and medium businesses, and financial institutions also in Africa and Latin America. Confident in the administration Meanwhile, Professor Dindo Manhit of business consultancy outfit, Stratbase ADR Institute said he is confident the Marcos administration can attract more foreign investments in agro-industrial and digitalization through its participation in global economic meetings abroad. “By establishing strong links in the economic space, the Philippines can further solidify its role in the global supply chain,” Manhit said. “We are confident that this administration will continue to advocate for reforms that will ensure our economic growth to make the country a premiere investment destination,” he added. The post Belgian wealth fund managers to explore Phl investments appeared first on Daily Tribune......»»
DMW has spent P414M on distressed OFWs
The Department of Migrant Workers said on Thursday that they have spent about P414 million of its P1.2 billion action fund this year to assist distressed Overseas Filipino Workers. According to DMW Officer-in-Charge Hans Leo Cacdac, the agency still has a balance of P780 million. “We still have a balance of around P780 million. We have a catchup plan that we are doing for the last two months of the year, most of these funds will be rolled over to the year 2024 anyway,” Cacdac said in a hearing of the House Committee on Overseas Workers Affairs. Cacdac added that the action fund is for legal, medical, or humanitarian assistance. “That three-fold assistance model was assigned by no less than our dear secretary, Secretary Toots Ople because what is stated in the law is legal or other forms of assistance. But Secretary Toots pointed out the other forms of assistance are legal, medical, or humanitarian,” Cacdac added. Cacdac stated that the action fund has benefitted 5,325 Filipinos this year, including those affected by various challenges in Turkey and the Middle East. “This includes the earthquake in Turkey, those affected by the conflict in Sudan, the case of a large fire and building collapse in the UAE, Dubai, and Qatar, and recently, of course, what our OFWs are suffering from the conflict in Israel and Lebanon is also included here,” he added. The OIC added that Filipinos living in war-torn areas tend to get more out of the fund. He said that about 700 OFWs families in Israel have availed of helpline assistance. “At first, we provided P20,000 in financial assistance upon return, but Secretary Toots increased it to P30,000… There is a special case for those who were caught in a conflict or war situation like Sudan. But here in Israel, we handed P50,000,” he said. The post DMW has spent P414M on distressed OFWs appeared first on Daily Tribune......»»
Israel aims to crush Hamas but vague on Gaza’s post-war future
Israel is determined to crush Hamas but has said little about what would replace its rule in Gaza after the war, with observers expecting Washington will play a decisive role. "One thing is clear: the Gaza Strip will not be ruled by Hamas once this war is over," Israeli government spokesman Eylon Levy told AFP as Israel's military steps up strikes in preparation for a widely-expected ground offensive. In the wake of the 7 October attacks, when militants from the Palestinian Islamist movement began a deadly cross-border assault that has killed 1,400 people, Israel has laid out just one objective: "Destroying Hamas". Since then, it has embarked on a brutal retaliatory bombing campaign, which Gaza's Hamas-run health ministry says has now killed more than 5,000 people. Despite four previous wars with Gaza's Hamas rulers -- in 2008, 2012, 2014 and 2021 -- Israel has never before threatened to completely overthrow the movement which rules this tiny territory of 2.4 million people. The territory, which has been languishing under an Israeli and Egyptian blockade since Hamas took control in 2007, has since October 7 suffered a spiraling humanitarian crisis, largely deprived of water, food and other basic supplies and more than a million people displaced. Although Israel withdrew its soldiers and settlers from Gaza in 2005, ending an occupation that began in 1967, the international community considers it responsible for the tiny territory's primary needs -- energy, food and medicine. 'Handing over the keys' Prime Minister Benjamin Netanyahu has called it a "do or die" war. And his government is hoping to end all responsibility for Gaza as part of a "new regional reality" it hopes will emerge after the war. After the current air strikes and action inside Gaza, Defence Minister Yoav Gallant said a "third phase" would involve "the removal of Israel’s responsibility for life in the Gaza Strip, and the establishment of a new security reality for the citizens of Israel". But no minister talks about Gaza's future government. And nobody has raised the possibility of a new Israeli occupation of the enclave, the military and financial burden of such an eventuality being too high to bear. "We are discussing possibilities with our partners," said government spokesman Levy. Israel wants to "hand over the keys" to a third party, a foreign ministry source said, speaking on condition of anonymity. According to Eitan Shamir, a former Israeli government security specialist and now director of Jerusalem's Begin-Sadat Center for Strategic Studies, Washington will have a decisive say in Gaza's future. The US, he said, already has an "overview" role in Israel's action against Hamas. "The favourite option of the Americans and Israelis would be an international structure with Palestinian Authority, with Saudi funding, for example," Shamir told AFP, saying it could include US and European administrative help. Regional players silent US President Joe Biden has given Netanyahu strong support, visiting Israel last week and warning other regional players not to get involved while lining up almost $15 billion in military aid, even if he has warned Israel against letting its "rage" go too far. But Washington has also not been clear about how it sees Gaza's future. "Something needs to be found that ensures Hamas can't do this again but also doesn't reverse to an Israeli governance of Gaza which they do not want," US Secretary of State Antony Blinken told CBS television on Sunday. "There are different ideas out there about what could follow and all of that needs to be worked, even as Israel is dealing with the current threat." The Israeli foreign ministry source raised Egypt as a possible saviour, although Cairo has resisted decades of pressure to take a greater role. Egypt and Jordan are deeply concerned about the war unleashing a new flood of Palestinian refugees. No Arab or Muslim state has so far proposed an intervention. One option supported by Israeli opposition leader Yair Lapid is for Mahmud Abbas' Palestinian Authority to take control. The authority already cooperates with Israel in running parts of the occupied West Bank, but the ageing Palestinian leader has faced growing criticism since the war began. But a report by the International Crisis Group said there was "little hope that the already deeply unpopular PA could return to Gaza on the back of an Israeli invasion and not be treated as an enemy. "Moreover, it is not clear that Israel would want the West Bank and Gaza under a single authority," the think tank said. The post Israel aims to crush Hamas but vague on Gaza’s post-war future appeared first on Daily Tribune......»»