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Fuel price hike next week
As travel peaks for the Holy Week, hefty fuel prices are expected......»»
Substantiate your opinion : Students join NCCA workshop on film reading
Students in Zamboanga, however, learned a few tips on how to appreciate or read a film better in a workshop facilitated by the National Commission on Culture and the Arts when the national agency visited the southern city last March 8 in celebration of the National Arts Month every February......»»
PPP Code IRR out; 20 projects up for approval
Around 20 solicited projects that are part of the government’s infrastructure flagship program are expected to be submitted to the National Economic and Development Authority Investment Coordination Committee for approval this year, the Public-Private Partnership Center said, following the signing of the implementing rules and regulations of the PPP Code......»»
Oil price hike expected this Holy Week
Oil firms are expected to implement an increase in pump prices on Holy Tuesday, March 26......»»
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.....»»
BPI capital hike gets BSP approval
The Bangko Sentral ng Pilipinas has approved the request of Ayala-led Bank of the Philippine Islands to beef up its capitalization ahead of its merger with Gokongwei-owned Robinsons Bank Corp......»»
MIF good money
The Maharlika Investment Fund is not expected to earn an annualized return of 10 percent as its critics have demanded. Even the most successful sovereign wealth funds do not have such high yearly income. An 8.6 percent yield as estimated by House members would already be a high target but University of the Philippines economists said the MIF must reap at least 10 percent to compensate for the foregone opportunities that resulted from diverting public funds for social welfare spending. Economic managers explained that the amount invested in MIF is a mere fraction of the funds that the government institutions own. LandBank has P1.3 trillion in investible funds compared to the P50 billion injected into MIF. That’s just roughly three percent of the total LandBank funds. DBP has P850 billion of investible funds and will only utilize P25 billion for MIF. After going through refinement at the Senate, the bicameral approval of the final version ensures that the bill will come nearer to the “perfect” version that President Ferdinand “Bongbong” Marcos Jr. wanted. Thus, the MIF safety nets against the funds’ misuse are guaranteed to be there. The layers of auditing are MIF’s strongest shield against irregularities. It will have internal and external auditors aside from the annual Commission on Audit checks. An essential part of the fund is the capital that is expected to grow as the interest of investors picks up. The amount of capitalization determines the size of projects that the MIF can invest in. Sovereign wealth funds that are considered successful based on various metrics such as size, investment returns, and strategic objectives include the Government Pension Fund of Norway, also known as the Norwegian Oil Fund. This is the world’s largest sovereign wealth fund with assets under management of over $1.3 trillion. It was established in 1990 to invest the government’s revenue from oil and gas production. The fund has achieved impressive returns over the years, with an annualized return of 6.1 percent since its inception. The Abu Dhabi Investment Authority is another example of a successful fund in the world, with estimated assets under management of around $700 billion. It was founded in 1976 to invest in the oil revenues of the Emirate of Abu Dhabi. Nearer in the region is the China Investment Corporation with assets under management of over $1 trillion. It was established in 2007 to manage a portion of China’s foreign exchange reserves and to diversify its investments. The fund has achieved impressive returns over the years, with an annualized return of 6.6 percent since its inception. Other successful wealth pools include the Kuwait Investment Authority, the Qatar Investment Authority, and the Singaporean sovereign wealth funds GIC and Temasek. Even the argument that the Philippines does not have surplus income is not a valid argument against the MIF. Countries with no current account surplus such as Indonesia, India, and Vietnam, have established their so-called sovereign wealth funds to strengthen and support their priority development projects. The government of Indonesia has contributed $2 billion to set up Indonesia Investment Authority and it also transferred assets worth $3 billion. Even as Indonesia operates on a deficit, the government also provided $2 billion as capitalization for INA. Copying the Indonesia model, the Philippines hopes to use the MIF to beef up revenues. The post MIF good money appeared first on Daily Tribune......»»
Baltimore bridge collapse could lead to delayed shipments, higher shipping costs
The closure of the Port of Baltimore in the US following the collapse of the Baltimore key bridge is expected to lead to shipment delays and higher shipping costs......»»
Mt. Apo as geological monument hurdles City Council 2nd reading
THE 20th City Council approved on second reading the declaration of Mount Apo as a geological monument during its session on Tuesday, March 26, 2024, held at the Sangguniang Panlungsod......»»
Women empowering women
As we celebrate National Women’s Month in March, here are inspiring messages from women leaders of different industries and sectors......»»
Amigas group celebrate March Birthdays
The Amigas group had a small get-together at Blackbird at the Nielson Tower this month for their March birthday celebrants. Among them was the author, Lanie Fung......»»
UAAP volleyball enters break amid wide-open semis race
It’s the calm before the storm as teams embark on a much-needed pause ahead of an expected all-out race to the UAAP Season 86 volleyball tournaments Final Four......»»
JK Labajo pauses concert to take care of 2-month-old baby from crowd
Singer Juan Karlos paused his concert to take care a two-month-old baby from the crowd. .....»»
2 ex-James Bond actors approve of Aaron Taylor-Johnson as next 007
Former James Bond actors George Lazenby and Pierce Brosnan have stated their approval for Aaron Taylor-Johnson should the latter be the next individual to carry the Agent 007 mantle......»»
Cebu bus terminals: 100,000 passengers expected on March 27
CEBU CITY, Philippines — At least 100,000 passengers are expected to flock to two of the biggest bus terminals here in Cebu for the Holy Week this year. As early as 7 a.m. on Holy Wednesday, dozens already queued for buses at the Cebu North Bus Terminal (CNBT) in the North Reclamation Area. READ MORE:.....»»
Sarah Geronimo meets with Fil-Am producers in LA
Sarah Geronimo has made two historic feats just weeks apart this month, but the talented singer-actress revealed that she still had hesitations and apprehensions......»»
Cowboys QB Dak Prescott expected to play on current contract for 2024 seaso
The Dallas Cowboys made headlines recently by restructuring quarterback Dak Prescott’s contract, converting a $5 million roster bonus into a signing bonus. This move helped.....»»
BTr raises P120 billion from T-bond sale
The government raised the entire program of P120 billion in long-term securities this month even as investors’ asking rates were mixed......»»
From the Newsrooms: March 17 to 23, 2024
By: CMFR StaffPosted on: March 25, 2024, 8:00 amUpdated on: March 25, 2024, 1:00 am THIS WEEK, "From the Newsrooms" looks at the media coverage of two events. On March 20, a hearing in the House on the Philippine Coast Guard (PCG) revealed that Chinese nationals were included in the Philippine Coast Guard Auxiliary (PCGA). On March 21, Arnolfo Teves, the alleged mastermind of the Pamplona.....»»
House arrest warrant vs Quiboloy moot – lawyer
Pastor Apollo Quiboloy’s lawyer says the arrest warrant issued by a House of Representatives panel is moot as the panel’s hearings are already adjourned......»»