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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......»»
Philippines declares 'strategic defeat' of NPA rebels
MANILA, March 26 (Xinhua) -- The Philippines declared on Tuesday a "strategic defeat" of the New People's Army (NPA) rebels, who have been fighting against the government since the 1960s, saying there is no more active guerilla fronts in the country. Eduardo Ano, National Security Adviser and former chief of staff of the Armed Forces of the Philippines, said "thousands" of NPA insurgents have decided to return t.....»»
Whole-of-government approach to protect Mt. Apo from destructive fires
COLLABORATIVE efforts from local government units, national government agencies, communities, and other stakeholders are put in place to protect Mt. Apo against fire amid El Niño......»»
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......»»
Remove the chaff from the grains
Other than the questioned selling of the buffer stock of rice to traders, what’s happening at the National Food Authority (NFA)? With 132 of around 2,000 NFA officials and employees all around the country suspended for six months without pay, this agency attached to the Department of Agriculture (DA) is struggling to stay relevant in the over-all schemes of the government on food security......»»
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.......»»
‘Not war with China; don’t rely only on US’ – Marcos Jr.
In an interview on Bloomberg TV last Wednesday, as reported in another national daily, he made two related comments that could represent important government policy stands. First, regarding China’s increasing aggressive moves against Philippine vessels in the West Philippine Sea; second, about the United States’ repeated assurance of its “iron-clad” defense commitment under the 1951 Mutual Defense Treaty. The post ‘Not war with China; don’t rely only on US’ – Marcos Jr. appeared first on Bulatlat......»»
DOT seeks inclusion in protected areas board amid Chocolate Hills issue
Department of Tourism Sec. Christina Frasco —INQUIRER.net file photo / Ryan Leagogo After the recent controversy surrounding a resort development near Chocolate Hills in Sagbayan town, Bohol, the Department of Tourism (DOT) announced plans to advocate for its inclusion in the national government’s Protected Area Management Board (PAMB). Tourism Secretary Christina Frasco stated during a.....»»
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......»»
Philippines posts 196 mln USD deficit in February
MANILA, March 19 (Xinhua) -- The Philippines' overall balance of payments (BOP) posted a 196-million-U.S. dollar deficit in February, significantly lower from the 895-million-dollar BOP deficit recorded a year ago, the country's central bank said on Tuesday. The Bangko Sentral ng Pilipinas (BSP) said the BOP deficit in February reflected outflows arising mainly from the national government's foreign currency deb.....»»
Highly-leveraged SMGP
San Miguel Corp. predictably won the Court of Appeals decision recently, reversing the Energy Regulatory Commission in its rejection of the petition of its energy arm San Miguel Global Power Corp. or SMGP’s plea for a temporary rate increase. SMGP claims P15 billion in losses from its units South Premiere Power Corp. and San Miguel Energy Corp. as a result of high fuel costs and the supply restrictions from the Malampaya natural gas project. It turns out that SMGP direly needs to be profitable since it is deep in borrowings for its projects. Data supplied to Daily Tribune by the think tank Center for Energy, Ecology and Development showed SMGP has obtained several financing arrangements, such as long-term debts and issuance of Senior Perpetual Capital Securities or SPCS and other debt instruments to facilitate the acquisition of coal-fired power plants and investments in new power plants. For the construction and expansion of coal plants, SMGP has secured the following financial transactions: January 2018, drawing P2 billion from the P44-billion Omnibus Loan and Security Agreement to finance the construction of two 150-megawatt Limay coal-fired power plants; March 2018, $700-million floating interest term loan, $400-million short-term bridge financing loans, $400-million floating interest term loan, and $650-million Redeemable Perpetual Securities for the acquisition of Masinloc Group including two 315 MW Masinloc power plant and the construction of Unit 3 and 10 MW battery energy storage project; January 2019, $35 million from its $525 million Omnibus Expansion Facility Agreement to finance the ongoing construction of the 300 MW expansion of Masinloc Power Plant; November 2019, drawing of an additional $40 million from $525 million OEFA to finance the additional 300 MW Masinloc Power Plant; July 2019, drawing of P978 million from a P2.1 billion 12-year Omnibus Loan and Security Agreement with a syndicate of local banks for the financing of the construction of the Davao Greenfield Power Plant; March 2020, drawing of an additional $43 million to finance the construction of an added 335 MW Unit-3 Masinloc Power Plant; and July 2022, allocation of up to P20 billion from the sale of P30 billion fixed rate bond with an oversubscription option of up to P10 billion. As for its liquefied natural gas-related projects, SMGP has issued debt certificates in the past three years including: October 2020 — $400 million worth of SPCS issued for 100 percent with an initial rate of 7 percent per annum. In-principle approval for the listing and quotation from Singapore Exchange Trading Ltd. December 2020 — $350 million worth of SPCS issued for 102.457 percent with an initial rate of 7 percent, and listed on the SETL; April 2021 — availment of $50 million from the October 2020 loan facility agreement for capital expenditures related to the Ilijan gas-fired power plant and its expansion, financing of LNG importation, and storage facilities, among others; June 2021 — $600 million worth of SPCS issued for 100 percent with an initial rate of 5.45 percent per annum, and listed on the SETL; September 2021 — $150 million worth of SPCS issued for 100.125 percent with an initial rate of 5.45 percent per annum, and listed on the SETL; and July 2022 — allocation of up to P24.5 billion from the sale of P30 billion fixed rate bonds with an oversubscription option of up to P10 billion. In April 2021, SMGP also availed of its $50 million from its term loan facility with a foreign bank executed in October 2020. The proceeds of this loan are intended for the payment of capital expenditures of the Ilijan plant, funding of liquefied natural gas import, storage, and distribution facilities, pre-operating and operating working capital requirements for Battery Energy Storage System projects, and transaction-related fees, costs, and expenses of the facility. The post Highly-leveraged SMGP appeared first on Daily Tribune......»»
Cavite nagdeklara ng ‘state of calamity’ dahil sa ‘pertussis outbreak’
NASA ilalim na ng “state of calamity” ang probinsya ng Cavite. Ito ay dahil dumadami na ang mga nahahawa ng pertussis o whooping cough sa probinsya. Ayon sa provincial government, nakapagtala na sila ng 26 confirmed cases at kabaling na riyan ang anim na namatay dahil sa nasabing sakit. Narito ang datos ng Cavite kaugnay.....»»
Kaspersky Shares Cybersecurity Tips for a Peaceful Getaway during the holy week
As the holiday season approaches, the urge to unwind and kick back is natural. And it’s all too common for people to let their guard down completely when connecting to the Internet too– but shouldn’t. Recently, the Philippine National Police (PNP) Anti-Cybercrime Group shared its findings on identity theft cases in the country. Between November […].....»»
Antipolo City throws support on Ajido
The Antipolo City government led by Mayor Casimiro “Jun” Ynares III will provide support to Antipolo-born swimmer Jamesray Mishael Ajido, who won the country’s lone gold medal in record-breaking fashion at the recent 11th Asian Age-Group Swimming Championships......»»
Hoffman boosts bid for Paris Paris
Olympics hopeful Lauren Hoffman yesterday set a new national record in the women’s 400-meter hurdles with a gold medal performance in the Hurricane Collegiate Invitational in Coral Gables, Florida......»»
PNVF forms coaching sataff for world meet
Seasoned coach Dante Alinsunurin will make a comeback as one of the deputies for the national men’s team as host Philippines pulls out all the stops to parade a competitive squad against the best of the best in the FIVB Volleyball Men’s World Championships 2025......»»
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......»»
Infrastructure projects get better loan terms from Japan
The Philippines has secured better financing terms for two big-ticket infrastructure projects funded by the Japanese government aimed at improving public transport and road connectivity......»»
S& P: Philippines may miss growth goal this year
S&P Global Ratings sees the Philippines again missing its growth targets this year as it kept its gross domestic product growth forecast at 5.9 percent. While the projection is better compared to other economies in the region, it is again below the government’s 6.5 to 7.5 percent growth target......»»
Women empowering women
As we celebrate National Women’s Month in March, here are inspiring messages from women leaders of different industries and sectors......»»