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UAE agri, energy, banking deals eyed
The Department of Finance, or DoF, on Wednesday said United Arab Emirates or UAE-based firms are keen on exploring investments in a range of industries in the Philippines, including food, water management, renewable energy, and Islamic banking. DoF said the economic team talked to executives of Brevan Howard, a technology-driven investment management platform; Arqaam Capital, a financial firm for emerging markets; and Investment Corporation of Dubai, the Dubai Government’s principal investment arm for the possible foreign investments. “The companies expressed interest in the Philippines’ renewable energy projects, port operations, water and wastewater management, waste-to-energy projects, upcoming Sukuk bond issuances, Islamic banking, and the Maharlika Investment Fund,” DoF said in a statement to the media. Middle East roadshow Investment and trade discussions surfaced during the Philippine economic team’s investor briefing in the UAE, a seven-state federation, from 11 to 12 September. The finance department said the possible foreign investments affirm the need for the Comprehensive Economic Partnership Agreement or CEPA with the UAE aimed at easing and expanding trade between the two countries. DoF said the UAE Government and the Philippines have already signed an agreement for investment protection and collaboration as part of the ongoing negotiations over CEPA. It added the UAE will soon submit to the Philippines its template for the final document on CEPA. President Ferdinand Marcos Jr. said he aims to adopt foreign water technologies, such as hydroelectric power plants, irrigation canals, and diversion dams to store and distribute more water for households, commercial establishments, and farm irrigation amid the threats of climate change. Food exports to Dubai usually include pineapples, bananas, and fresh and processed fish amounting to over $30 million. For renewable energy, the Department of Energy aims to generate power capacity of at least 20,000 megawatts through a mix of sources, such as the sun, wind and geothermal. Meanwhile, National Treasurer Rosalia de Leon said the Philippines is entering the Islamic debt market by issuing Sukuk bonds, or Islamic bonds, in the fourth quarter this year or early next year to raise $1 billion. “Sukuk bonds will diversify the Philippines’ sources of financing, widen its investor base to reach the untapped Islamic finance market, and boost investments in physical and digital connectivity,” she said. The Islamic bonds offer investors a share of profits from projects financed by the debt instrument instead of interest payments from traditional bonds. The government aims to raise $5 billion from commercial borrowing and already acquired $3 billion in January. The post UAE agri, energy, banking deals eyed appeared first on Daily Tribune......»»
2nd State of the Nation Address
Anti-inflation measures Crafting of Medium-Term Fiscal Framework supported by Congress Implementation of strategies to capacitate economic sectors Results (1) 7.6 percent growth in 2022 — highest rate in 46 years. (2) January to March 2023 — 6.4 growth percent (within 6 to 7 percent target) (3) Philippines considered to be among fastest-growing economies in the Asian region and in the world (4) Strong and stable financial system (5) Banks have strong capital and liquidity positions. (6) Digital economy contributed P2 trillion in 2022, the equivalent of 9.4 percent of our GDP. (7) World Bank projects a 6 percent overall growth rate due to strong local demand, consumer spending, strength from the BPO industry, steady flow of remittances, and continuing jobs recovery (8) Inflation rate eased up from 8.7 percent in January to 5.4 percent in June. (9) Bureau of Internal Revenue posted P1.05 trillion collections — an increase of almost 10 percent over the last year (10) Bureau of Customs increased collection by 7.4 percent for the first seven months of 2023, amounting to P476 billion. (11) PAGCOR increased collection by 47.9 percent (12) PCSO increased collection by 20 percent Reduction of prices of commodities like rice, meat, fish, vegetables and sugar Roll out of more than 7,000 KADIWA stores nationwide that link farmers with consumers, benefited 1.8 million families Agriculture Science-based methods toward food security Revision of Fisheries Code Unify 300 farm and fisheries clusters composed of 900 cooperatives Extensive technology training like the use of local bio-fertilizers Distribution of farm machinery, tools and inclement Distribution of more than 5 million rice seedlings and other crops Fuel at fertilizer discount vouchers Geo-Agri map of farm-to-market roads Irrigated 49,000 hectares of farmlands across the country. Constructed 4,000 additional fabrication labs, production at cold storage facilities Built 24 multi-species hatcheries to increase fisheries production Anti-animal pest monitoring, medicines, and vaccines Cloud seeding and buffer stocks in preparation for El Niño 70,000 agrarian land titles distributed Signing of EO No. 4. Or New Agrarian Emancipation Act the condoned P57-billion farmers’ loans Smuggling and hoarding Days of smugglers and hoarders are numbered Water Supply Creation of Water Resources Management Office Working for legislation of Department of Water Resource Management Allocated P14.6 billion for water supply projects Completion of Wawa Bulk Water Supply Project Phase 1 Installed 6,0000 rainwater collection systems across the country Infrastructure 8.3-trillion peso “Build, Better, More” Program in progress 194 flagship projects Continuation of “Build, Build, Build” projects Infrastructure spending stays at 5 to 6 percent of GDP 1,200-kilometer Luzon Spine Expressway Network Program will effectively connect Ilocos to Bicol from 20 hours to just 9 hours of travel Under Mega-Bridge Program, 12 bridges totaling 90 kilometers will be constructed including Bataan-Cavite Interlink Bridge and the Panay-Guimaras-Negros Island Bridges, and Samal Island-Davao City Connector Bridge As of June 2023, 4,000 kilometers of roads and 500 bridges have been constructed, maintained and upgraded Completed Cebu’s Pier 88 smart port, new passenger terminal buildings of Clark Airport and Port of Calapan. North-South Commuter Railway System now in full swing Strategic financing Enactment into law of Maharlika Investment Fund Social security Funds for the social security and public health insurance intact and separate Energy and Power Generation Price of crude oil stabilized Since last year, gasoline and diesel prices have gone down by 18 to 29 percent, respectively. Built 8 new additional power plants, bringing to 17 the total number of power generation facilities Energy production increased by 1,174 megawatts. Almost half a million homes given access to electricity; 100 percent household electrification by June 2028 Renewable energy is the way forward Promotion of renewables targets 35 percent share in the power mix by 2030, and 50 percent by 2040 Opened renewable energy projects to foreign investments Since last year, an additional 126 renewable energy contracts with potential capacity of 31,000 megawatts awarded. To date, more than 1,000 active projects all over the country — 299 are solar, 187 are wind, 436 are hydroelectric, 58 are biomass, 36 are geothermal, and 9 are ocean-powered. Malampaya project is boon, energizing 20 percent of Luzon; renewal of the contract guarantees continued revenues and energy production for another 15 years Push for more gas exploration in other parts of the country Partnered with the BARMM in regard to energy exploration and development The Philippines now has a Unified National Grid with the interconnection of the Luzon, Visayas and Mindanao grids “One Grid, One Market” will enable more efficient transfers and more competitive pricing of electricity Performance review of National Grid Corporation of the Philippines to complete all of its deliverables, starting with the vital Mindanao-Visayas and Cebu-Negros-Panay interconnections. Social welfare Enough funds for underprivileged DSWD, DoLE, DepEd, TESDA and CHEd involved in providing assistance Programs like AICS, TUPAD, TVET for Social Equity, Social Pension for Indigent Senior Citizens, Cash-for-Work for PWDs, and Integrated Livelihood Program-Kabuhayan available for indigents Social protection Pension of the military and the uniformed personnel is as important, urgent, and humanitarian as that of all other civilian Filipino employees Working closely with Congress to ease the transition from the old system to the new one, to guarantee that no effects are felt by those in the uniformed services. The post 2nd State of the Nation Address appeared first on Daily Tribune......»»
Business mission to lead RP-Russia agri partnership
The Department of Agriculture on Tuesday reported that it took part in the Business Mission of Russian companies, organized by the Ministry of Agriculture of the Russian Federation and Agroexport Center, which recently concluded in Manila on 21 June 2023. The event aimed to foster collaboration and explore potential business opportunities between the two countries. The DA’s said its participation in the mission is expected to pave the way for more partnerships and initiatives that will benefit the Philippine agriculture industry. DA Undersecretary Agnes Catherine T. Miranda represented the Department and conveyed her appreciation to the Russian Federation for their ongoing bilateral trade with the Philippines. She highlighted that Philippine agriculture exports to Russia have grown by 26 percent from 2018 to 2021. The opening ceremony was followed by a tour of the booths belonging to 15 agribusiness companies mainly involved in industries such as poultry products, dairy, pork, wheat, grain, and tea, among others. The main event was the plenary session “Russia-Philippines: prospects for the development of cooperation in the field of agriculture,” wherein Undersecretary Miranda and Bureau of Animal Industry Director and Philippine Chief Veterinary Officer Dr. Paul C. Limson delivered the prospects for mutual trade between the two countries. The spotlight was on the emerging agricultural products of the Philippines, including pili, calamari, carrageenan, and coconut abaca. Undersecretary Miranda mentioned that there are excellent capital investment opportunities in cold storage and processing facilities for fresh and value-added farm products throughout the islands. Director Paul Limson presented the Philippine guidelines for ensuring food and animal health safety during accreditation procedures for exporting meat and meat products to the country. Top agriculture exports to Russia are desiccated coconuts, carrageenan, banana chips, coconut milk, and Cavendish banana. The post Business mission to lead RP-Russia agri partnership appeared first on Daily Tribune......»»
TESDA NCR leads urban community agri project opening in Pasay
PASIG CITY, Sept. 26 (PIA) -- The Technical Education Skills and Development Authority-National Capital Region (TESDA NCR) has facilitated the opening of the NCR Urban Community Agricultural Projec.....»»
Contagious pertussis disease continues spreading in Philippines
MANILA, March 28 (Xinhua) -- The contagious pertussis has continued spreading in the Philippines, where it has caused at least 40 death cases, after a province near the capital region reported an outbreak of the disease. In a social media post on Wednesday night, the Cavite government posted a resolution declaring the province under a state of calamity "due to the outbreak of pertussis" after logging 36 cases an.....»»
Cebuano Larz Dawson first runner-up for Mister Tourism Universe 2024
CEBU CITY, Philippines— Another Cebuano is putting Cebu on the centerstage of pageants. Larz Kent Dawson, 22, from Tisa, Cebu City recently bagged the first runner-up title for this year’s Mister Universe Tourism. Dawson, who was crowned Ginoong Pilipinas 2023, added another title in his bag, this time on the international stage. “Joining Mister Universe.....»»
Tech advancements in agri sans job threats in Date 2024
Despite the pivotal role of technology, artificial intelligence (AI), and the Internet of Things (IoT) in agricultural development, farmers and laborers in Davao Region face no immediate threat......»»
Globe gets P5 billion from sale of towers
Telco-to-tech provider Globe Telecom Inc. raised almost P5 billion from the sale of towers in the first quarter, providing it with some of the capital needed to upgrade services and pay debts......»»
One more city in Philippines declares pertussis outbreak
MANILA, March 25 (Xinhua) -- The government of Iloilo, a city in central Philippines, on Monday declared an outbreak of pertussis after it confirmed seven out of 15 reported cases, the City Disaster Risk Reduction and Management Council said. Iloilo is the third city to declare an outbreak of pertussis, or whopping cough, after Quezon and Pasig, two cities in the capital region, announced last week that they hav.....»»
‘Serenade of the Seas’ arrival restarts Subic cruise tourism program
The arrival here of GTS Serenade of the Seas, a 12-decker cruise liner operated by Royal Caribbean International, is expected to resurrect Subic’s cruise tourism program, which had gained momentum before being halted by the COVID-19 pandemic three years ago......»»
Boulevard Holdings sells 1.5-B shares to ownership group
Boulevard Holdings advised that its stockholders approved a measure to increase BHI’s authorized capital stock from 17 billion shares to 18.5 billion shares, and to sell the 1.5 billion shares to a company called Puerto Azul Landn Inc., which is also owned and controlled by the Panlilio family......»»
Singaporean embassy in India extends Holi wishes, shares images of celebrations in Barsana
New Delhi [India], March 24 (ANI): As Indians across the world geared up to ring in the festival of colours, the Singaporean embassy in the national capital extended its greetings for Holi, wishing that the festival would bring peace and joy to all. It also shared mesmerising pictures of Holi celebrations in one of India's oldest and most popular pilgrimage sites, Barsana, in Uttar Pradesh. A post on the official X handle.....»»
One more city in Philippines declares pertussis outbreak
MANILA, March 25 (Xinhua) -- The government of Iloilo, a city in central Philippines, on Monday declared an outbreak of pertussis after it confirmed seven out of 15 reported cases, the City Disaster Risk Reduction and Management Council said. Iloilo is the third city to declare an outbreak of pertussis, or whopping cough, after Quezon and Pasig, two cities in the capital region, announced last week that they hav.....»»
Billions for commercial tuna industry, crumbs for fisherfolk
Months of investigation by Bulatlat revealed that the booming commercial tuna industry in General Santos City, dubbed the Philippines’ “tuna capital,” favors industrial scale commercial fishing fleets at the expense of the livelihood of thousands of ordinary fisherfolk. The post Billions for commercial tuna industry, crumbs for fisherfolk appeared first on Bulatlat......»»
DMCI Homes earmarks P16 billion for capex in 2024
DMCI Homes, the property development arm of the Consunji Group, is allocating around P16 billion in capital expenditures this year to expand its portfolio......»»
Singaporean embassy in India extends Holi wishes, shares images of celebrations in Barsana
New Delhi [India], March 24 (ANI): As Indians across the world geared up to ring in the festival of colours, the Singaporean embassy in the national capital extended its greetings for Holi, wishing that the festival would bring peace and joy to all. It also shared mesmerising pictures of Holi celebrations in one of India's oldest and most popular pilgrimage sites, Barsana, in Uttar Pradesh. A post on the official X handle.....»»
EDITORIAL — Next, speedy justice
After a year of being on the run, Arnolfo Teves Jr. is finally being brought back to the country to face multiple indictments for serious offenses. Teves was arrested Thursday in East Timor’s capital Dili by local police. He had been hiding in plain sight in Timor-Leste, occasionally posting videos taunting Philippine authorities who wanted him for multiple murder cases......»»
SMC starts works on Pangasinan tollway
Food-to-infrastructure conglomerate San Miguel Corp. (SMC) has started the civil works for the Pangasinan Link Expressway (PLEX), laying the bedrock for a P34-billion project that would improve travel and tourism in Northern Luzon......»»
DOT advises public to ‘travel wisely’ this Holy Week
MANILA, Philippines — The Department of Tourism (DOT) is advising the public to “travel wisely” to ensure safety during the Holy Week celebrations. “Travelers needing accommodation, tours, transportation, and other tourism-related services are strongly advised to patronize DOT-accredited tourism enterprises. Accreditation by the DOT recognizes establishments as having complied with the department’s minimum standards set.....»»
Bago farmers get P1-M capital trading support
Bago farmers get P1-M capital trading support.....»»