We are sorry, the requested page does not exist
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.....»»
Scorching Heat
Pedestrians brave the scorching heat in downtown Davao City, as the heat index hit 43 degrees Celsius at 1 p.m. Monday, 25 March 2024, according to the City Disaster Risk Reduction and Management Office. The agency advised the public to observe extreme caution as high temperatures could lead to heat exhaustion or heat stroke. MindaNews photo.....»»
Braving the Heat
BRAVING THE HEAT. Workers install a platform in front of the San Pedro Cathedral in Davao City on Monday, 25 March 2024. The City Disaster Risk Reduction and Management Office reported that the city's heat index reached 43 degrees Celsius at 1 p.m. the same day. The platform is in preparation for Easter Sunday's "Salubong" mass. MindaNews photo.....»»
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.....»»
High expectations from winners (4)
Vice President and DepEd Secretary Sara Duterte-Carpio took very seriously the job given to her by President Ferdinand “Bongbong” Marcos Jr. to prepare a curriculum relevant to producing competent, job-ready, active, and responsible citizens. In her report on basic education in the Philippines, she revealed in detail the problems confronting it, the teachers, and learners; and crafted means to overcome them, guided by the Constitution and the convention on the rights of the child, reaffirming our country’s commitment to improving the quality of basic education in the Philippines. “The four learners at home — one in kindergarten, one in Grade 4, one in Grade 7, and one in Grade 9 — enable me to see different kinds of problems being experienced by learners every day.” “In my work as Secretary of Education, I am in the company of 28 million Filipino learners throughout the country. I can see numerous problems faced by them every day.” “Four learners at home, plus 28 million more throughout the land, these, my countrymen, make my interest in the future of Philippine education a very personal matter.” “Filipino learners are not academically proficient. In time, Filipino learners experience emotional abuse and exhaustion. Some of them suffer from psychological fatigue. And being academically insecure, many of them may fail to meet the standards of a demanding and competitive world. These are caused and triggered by conditions present at home, in our communities, and even in our schools as a result of problems ingrained in our system. This is the truth. This is our future. But this is a future that we can change. That is why we are here.” “We have to take good care of our teachers. They are the lifeblood of the Department of Education. Without our teachers, our mission to carve a better future for our children will fail.” “And to empower our learners with the relevant skills and knowledge, we shall focus on upscaling their knowledge and capacities as public servants. The assessment of the K-12 curriculum revealed the weak teaching methods of our teachers in addressing 21st-century skills. Studies done by the Research Center of Teacher Quality, the World Bank, and UNICEF showed that our teachers need further support, particularly in explicitly and strategically teaching critical thinking and problem-solving skills.” “While critical thinking was the most evident in the curriculum, it was also the least taught to students by the teachers. Instead, lessons leaned towards conceptual or content-based teaching. And lessons lacked in-depth processing to cultivate critical thinking and problem-solving. Finally, there appears to be insufficient knowledge on developing 21st-century skills, including higher-order thinking skills among learners. This is not the fault of our teachers—whose dedication, integrity, and commitment to serving Filipino children and the country strengthen our collective effort to achieve our shared dreams for our learners. The sad reality is that the system has failed them.” “This is the system that burdens them with backbreaking and time-consuming administrative tasks, a system that provides no adequate support and robs them of the opportunity to professionally grow and professionally teach, assist and guide our learners.” “Our teachers must return to our classrooms and they must teach.” Studies and tests were conducted to measure the literacy of the learners. It was discovered that the issue of literacy is alarming in our basic education. We must address it appropriately and effectively. The 2018 study results showed that 81 percent of Filipino learners could not deal with basic math problems, 81 percent had trouble understanding texts of moderate length, and 78 percent could not recognize correct explanations for scientific phenomena or draw valid conclusions from given data. “We can do better than this,” Sara said. “We are better than this. Studies like these are opportunities for us to thoroughly examine our system and defects that hurt our children’s abilities.” (To be continued) The post High expectations from winners (4) appeared first on Daily Tribune......»»
Woman arrested for disrupting Trump trial
disrupting Donald Trump’s civil fraud trial after she approached the former United States president in the courtroom and saying she wanted to “assist him,” a court spokesperson said. The woman, who was not identified, was “safely escorted” out of the Manhattan courtroom by officers and has been charged with contempt and immediately placed on administration leave pending an investigation, spokesperson Lucian Chalfen said. The woman “disrupted the proceedings,” Chalfen said in a statement. She was “stopped by court officers before she got near Mr. Trump or any of the attorneys or other litigants,” the spokesperson said, adding that “none of the parties were ever in any danger.” Trump did not seem concerned by the incident, and appeared to only learn of it when speaking to reporters later. “Who got arrested? We don’t know anything about it,” he said. “You know who should be arrested?” he asked. “The attorney general should be arrested. For what she’s doing.” New York’s attorney general Letitia James has accused Trump, his sons Eric and Don Jr. and other executives of the Trump Organization of colossally inflating the value of their real estate assets in order to receive more favorable bank loans and insurance terms. The post Woman arrested for disrupting Trump trial appeared first on Daily Tribune......»»
DoE identifies offshore RE sites
The Department of Energy or DoE has identified nine potential renewable energy, or RE, sites to establish offshore wind ports that can serve as offloading terminals for a more seamless and efficient establishment of offshore wind or OSW facilities in the country. Speaking to reporters at the sidelines of an energy forum hosted by the Nordic Chamber of Commerce of the Philippines on Tuesday, Energy Assistant Secretary Mylene Capongcol said these ports will be developed to become staging areas housing the foundation, turbines, blades, and other materials that will be used in building the OSW structures. Capongcol cited Ilocos Norte, Batangas, Bacolod, Mindoro and Cagayan Valley as among the initial locations where the planned ports will be assembled. The Asian Development Bank will assist in evaluating these sites. “These are just initial identification and these nine ports are based on the project developments. They are initially identified to support and advance project constructions in these areas,” she said. To further uncover the country’s OSW potential, the DoE said “suitably sized and strategically located ports are essential for the storage, assembly, construction and operation of OSW farms.” Potential private sector partner Recently, the state-run Philippine National Oil Company disclosed that it is looking for a potential partner from the private sector to convert its 19-hectare Batangas port into an OSW Power Integration Port. It also tapped the University of the Philippines National Engineering Center to “help us because the decision not to award the contract for the commercial port expansion and shift to an offshore integration port was only last month.” The DoE has been pushing for the development of OSW to ramp up local indigenous supply amid growing demand. Based on the Philippines OSW Roadmap launched in 2022, the country has about 178 gigawatts or GW of OSW potential. OSW contracts awarded To date, the DoE has awarded a total of 79 OSW Contracts with a total potential capacity of 61.931 GW, spread mainly North of Luzon, West of Metro Manila, North and South of Mindoro, Panay, and Guimaras Strait. These, according to Capongcol, are all under the development stage, which includes preliminary wind data gathering, application for endorsements, and request for System Impact Studies. Despite the vast supply available nationwide, the OSW roadmap showed that the tedious permitting process as well as grid assets availability should be resolved. As such, the DoE vowed to enhance the policies on the OSW development, taking into account the streamlining and stricter timeframe outlined in the Energy Virtual One-Stop Shop law on the processing and issuance of licenses and permits by the concerned national and local government entities. The post DoE identifies offshore RE sites appeared first on Daily Tribune......»»
Bong Go bats for health budget increase
In a Committee on Finance hearing on Thursday, 28 September, Senator Christopher "Bong" Go called for an increase in the proposed 2024 budget for the Department of Health in order to ensure proper implementation of the recently enacted Regional Specialty Centers Act, as well as the establishment of more Super Health Centers, and continuing operations of Malasakit Centers nationwide — all aimed at bringing medical services closer to Filipinos in need. Go highlighted the importance of Republic Act No. 11959, known as the Regional Specialty Centers Act. He principally sponsored and is one of the authors of the measure, which was signed into law by President Ferdinand “Bongbong” Marcos Jr. on 24 August. "Masaya po ako na priority din ito ni Pangulong Bongbong Marcos," he said, noting that the act garnered a unanimous 24-0 vote in the Senate. "Lahat ay sumuporta dito dahil na-explain natin ng mabuti na makakatulong talaga ito sa mga kababayan nating mahihirap," he elaborated. This legislation aims to decentralize specialized medical services, making them accessible across all regions. "Nabanggit ko parati na tulad yung mga taga-Zamboanga ay pwede na po sila… may paglalagyan na doon ng Heart Center," he said, emphasizing the hardship people from remote areas face when seeking specialized healthcare in Manila. "Alam naman natin napakahirap pong pumunta dito sa Maynila. Wala silang pamasahe — ‘yung mga pasyente," he continued. On the budgetary front, Go stressed the need for adequate funding to establish the specialty centers under the law. He pointed out that while a more substantial fund is expected for 2025, thanks to other sources such as the Asian Development Bank (ADB) support, the budget for next year must be made sufficient to ensure proper initial implementation of the law. On the other hand, Go continues to advocate for more Super Health Centers which are designed to focus on primary care, consultation, and early detection, further strengthening the healthcare sector in the country, especially in grassroots communities. Free consultations would be handled by municipal health offices, local government units, and the Philippine Health Insurance Corporation (PhilHealth) through its Konsulta program. ”Ito pong Super Health Centers makaka-complement po ito sa programa ng PhilHealth, sa Konsulta package ninyo," he said. Services offered in Super Health Centers include database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray and ultrasound), pharmacy, and ambulatory surgical unit. Other available services are eye, ear, nose, and throat (EENT) service, oncology centers, physical therapy and rehabilitation centers, and telemedicine. The senator also addressed the need for a comprehensive assessment to ensure there are no personnel shortages and that the Super Health Centers operate effectively. "Tama yung sinabi ni Senator Loren (Legarda) kanina, importante po ay ma-assess nang mabuti para masiguro na hindi magiging... magkakaroon ng kakulangan sa personnel, baka hindi po kayanin ng LGUs," he cautioned. Finally, Go also emphasized the vital role of Malasakit Centers in providing medical financial aid to indigent patients all over the country. "Marami sa mga mahihirap nating kababayan ang umaasa po sa tulong ng gobyerno kapag sila ay na-oospital," he said, urging for the centers' continued efficient operation to benefit the nation's impoverished citizens. Malasakit Centers bring together representatives from the Department of Social Welfare and Development, DOH, PhilHealth, and Philippine Charity Sweepstakes Office. These one-stop shops aim to support impoverished patients in reducing their hospital costs to the least possible amount. Go is the principal author and sponsor of RA 11463 or the Malasakit Centers Act of 2019, which institutionalized the Malasakit Centers program. As of now, 159 Malasakit Centers are operational across the country, poised to assist with patients' medical expenses. The most recent center was inaugurated at Bislig District Hospital in Bislig City, Surigao del Sur, an event Go attended on 15 September. The DOH reported that the Malasakit Center program has already provided assistance to more than seven million Filipinos so far. The post Bong Go bats for health budget increase appeared first on Daily Tribune......»»
Phl energy transition gets backing
President Ferdinand Marcos Jr. emphasized the significance of renewable energy and fossil fuels, expressing the Philippines’ keen awareness of climate change, Malacañang said on Wednesday. According to the Presidential Communications Office, Marcos delivered these remarks when he received a courtesy visit from Mike Kanetsugu, the chairman of Mitsubishi UFJ Financial Group Inc. or MUFG, at the Malacañang Palace on Tuesday. “We are also very conscious of our situation in the Philippines wherein we are very sensitive to climate change,” Marcos Jr. told Kanetsugu. “It is very important that we play also a part to move the balance of renewables and fossil fuels more and more in favor of renewables,” he added. Kanetsugu expressed his dedication to supporting the government in facilitating the Philippines’ shift from fossil fuels to renewable energy. Kanetsugu highlighted the significance of the energy transition agenda of the country and commended the remarkable progress made in energy and infrastructure transition over the last three decades. “Energy transition is a very, very important agenda I consider for this country. We are providing financing, and we work for various transition projects that will contribute to a successful transition of the energy structure [in the Philippines],” he said. MUFG, a financial services company headquartered in Japan, acquired a 20-percent stake in Security Bank Corporation for P36.9 billion in 2016. MUFG commitment As part of its commitment to supporting investments in the Philippines, MUFG collaborated with Security Bank and signed a Memorandum of Understanding with the Board of Investments in 2018. The objective was to facilitate business matching activities, connecting local Filipino businesses with Japanese investors. In 2017, the company introduced the Interbank Fund Management Service, enabling customers to send remittances without incurring fees. Additionally, MUFG and Security Bank donated P44 million to the Association of Filipino Students in Japan to support the education of students affected by the Covid-19 pandemic. To assist in infrastructure projects like the North-South Commuter Railway or NSCR Project and the Metro Manila Subway Project, both funded by the Japan International Cooperation Agency, MUFG has been providing bank guarantee requirements to the Department of Transportation and the Department of Public Works and Highway. MUFG is involved in trade transactions for government agencies, including constructing the 54.6-kilometer Blumentritt-Calamba section of the NSCR and the 36-kilometer Metro Manila Subway line project. Improve bureaucratic processes Meanwhile, the President vowed to “improve bureaucratic processes” in the country’s energy sector to attract more investors to the Philippines. Marcos made the statement on Wednesday during the opening of the 24.9-megawatt Lake Mainit Hydro Power Plant, which will provide about 45,000 homes in the Caraga region with less expensive electricity. “I urge the local government to provide all the necessary assistance to ensure the safety and productivity of this hydropower plant,” Marcos said. The Chief Executive noted that the project would “serve as an encouragement to potential investors to invest in the country, especially in the power generation and renewable energy sectors.” He also thanked Japanese investors for bringing renewable energy technology to the Philippines, underscoring that hydropower plants “improve air quality as [they] produce very low carbon emissions during production.” Marcos said the project was a “defining step” towards the country’s goal of providing much-needed power for the people of Agusan del Norte and neighboring areas. He also highlighted the project’s environmental benefits, saying it would help reduce the carbon footprint and improve air quality. “This project was made possible because of the shared commitment we have with our reliable partners in the private sector, both from the Philippines and from Japan,” the President said. This is a “clear manifestation of the trust and support our two nations hold for each other,” he added. The post Phl energy transition gets backing appeared first on Daily Tribune......»»
PHL should favor renewable energy, battle climate change
President Ferdinand Marcos Jr. emphasized the significance of renewable energy and fossil fuels, expressing the Philippines' keen awareness of climate change, Malacañang said on Wednesday. According to the Presidential Communications Office, Marcos delivered these remarks he received a courtesy visit from Mike Kanetsugu, the Chairman of Mitsubishi UFJ Financial Group Inc. (MUFG), at Malacañang on Tuesday. "We are also very conscious of our situation in the Philippines wherein we are very sensitive to climate change," the President told Kanetsugu. "It is very important that we play also a part to move the balance of renewables and fossil fuels more and more in favor of renewables," he added. In response, Kanetsugu expressed his dedication to supporting the government in facilitating the Philippines' shift from fossil fuels to renewable energy. Kanetsugu highlighted the significance of the energy transition agenda in the country and commended the remarkable progress made in energy and infrastructure transitions over the last three decades. "Energy transition is a very, very important agenda I consider for this country. We are providing with financing, and we work for various transition projects that will contribute to a successful transition of energy structure [in the Philippines]," he added. The MUFG, a financial service company headquartered in Japan, acquired a 20 percent stake in Security Bank Corporation for P36.9 billion in 2016. As part of its commitment to supporting investments in the Philippines, the MUFG collaborated with Security Bank and signed a Memorandum of Understanding with the Board of Investments in 2018. The objective was to facilitate business matching activities, connecting local Filipino businesses with Japanese investors. In 2017, the company introduced the Interbank Fund Management Service (IBFM), enabling customers to send remittances without incurring fees. Additionally, the MUFG and Security Bank donated Php 44 million to the Association of Filipino Students in Japan, aiming to support the education of students affected by the COVID-19 pandemic. To assist in infrastructure projects like the North-South Commuter Railway (NSCR) Project and the Metro Manila Subway Project, both funded by the Japan International Cooperation Agency (JICA), the MUFG has been providing bank guarantee requirements to the Department of Transportation (DOTr) and the Department of Public Works and Highways (DPWH). The MUFG is involved in trade transactions for government agencies, including constructing the 54.6-kilometer Blumentritt-Calamba Section of the NSCR and the 36-kilometer Metro Manila Subway line project. The post PHL should favor renewable energy, battle climate change appeared first on Daily Tribune......»»
Alternergy tapped under Villar deal
A unit of Alternergy Holdings Corp. of former Energy Secretary Vicente Pérez Jr. has formalized an agreement to supply renewable energy to a company owned by the Villar group. Solana Solar Alpha Inc., a subsidiary of Alternergy Group’s Solar Pacific Energy Corp., will supply Kratos RES Inc., a unit owned by Villar Group’s Prime Asset Ventures Inc., with 10 megawatts of clean power from the soon-to-be-built Solana Solar Power Project located in Hermosa, Bataan. Under the deal, Solana Solar can expand its RE supply to Kratos RES up to 20 MW. RE transition set “We are pleased to partner with Kratos RES to help its electricity end-consumers achieve their sustainability goals and transition their power supply to renewable energy,” Alternergy chairman and Solana Solar Chairman and president Pérez said. Meanwhile, for Solar Pacific Chief Executive Officer Mike Lichtenfeld, the partnership will help “provide reliable and cost-competitive electricity supply to malls, offices, complexes, and manufacturing facilities served by Kratos.” “By partnering with Kratos, we are proud to assist these sectors make sustainability part of how they operate,” Lichtenfeld said. The 20MWAC/28WDC Solana Solar Power Project has recently secured financing commitments from a leading Philippine commercial bank and a commitment for Engineering, Procurement, and Construction from a leading EPC provider. Early works activities have started with the full-swing construction to commence in the coming months. Alternergy has been investing a significant amount to expand its clean energy portfolio. It aims to develop up to 1,245 MW of additional wind, offshore wind, solar, and run-of-river hydro projects. Alternergy was involved in the development of the 33-MW Bangui Bay wind farm in Ilocos Norte — the first commercial wind farm in Southeast Asia at that time. The post Alternergy tapped under Villar deal appeared first on Daily Tribune......»»
IMF asked to assist in VAT collection
Finance Secretary Benjamin Diokno said that the government is seeking technical assistance from the International Monetary Fund (IMF) to improve the value-added tax (VAT) collection system in the Philippines. During the Kapihan sa Manila Bay news forum, the Finance Secretary said the current VAT collection system is inefficient and has a low revenue ratio. He added that the government is losing a significant amount of revenue due to exemptions and weak tax administration. Diokno said the Philippines has the highest VAT rate in Southeast Asia at 12 percent, but its VAT efficiency is only 40 percent. This means that the government is only collecting 40 percent of the potential VAT revenue. The Finance Chief attributed the low VAT efficiency and VRR in the Philippines to several factors. These include tax exemptions, zero rating, and weak tax administration. "Without exemptions, zero rating, and at 100 percent efficiency, it is estimated that the government has to be collecting VAT equivalent to approximately 10.7 percent of (gross domestic product)," Diokno said. "At present, we are only collecting around 4.7 percent of GDP which makes the combined tax policy and administrative gap to around 6.0 percent," he added. The World Bank estimates that the government could collect an additional 6 percent of GDP if it closes the VAT policy and administrative gaps. This would translate to an additional P546 billion in revenue. Diokno said that the IMF's technical assistance would help the government to identify the gaps in the VAT system and develop appropriate reforms to make the collection more effective, efficient, and responsive to the country's economic activity. "We need to improve our VAT collection system to generate more revenue for the government," Diokno said. "This will help us to fund our important programs and projects, such as infrastructure development, social services, and healthcare." The post IMF asked to assist in VAT collection appeared first on Daily Tribune......»»
Committed to equity, sustainability, opportunity
As the Philippines looks forward to hosting the ABAC 3 (Asean Business Advisory Council) meeting in Cebu, the Aboitiz group acts as a key driver in advancing the shared goals of equity, sustainability and opportunity. The invaluable expertise of Aboitiz president and CEO and ABAC PH member Sabin Aboitiz contribute significantly to the Aboitiz Group’s endeavors and enhance the alignment between ABAC's vision and strategies. Sabin Aboitiz demonstrates the Aboitiz Group's unwavering commitment to sustainability. The focus on exploring the viability of nuclear energy via small modular reactors highlights the Group's interest in advancing clean and efficient energy sources to reduce carbon emissions and mitigate climate change. Additionally, the integration of climate risk scenarios underscores the Group's proactive approach to understanding and addressing the potential risks and challenges posed by climate change. "At Aboitiz, we believe that businesses have a crucial role to play in promoting equity, sustainability and opportunity," Sabin Aboitiz said. "Through our collective efforts, we are committed to making a positive impact on society and fostering a better future for all." Apart from being the pioneer of renewable energy in the Philippines with 1249.17MW of total net sellable renewable energy capacity, AboitizPower, the energy arm of the Aboitiz Group, has shown commitment in promoting equity and inclusion within the company. Testament to that is the Diversity, Equity, Inclusion and Belonging program, which aims to push the envelope further in creating a safe and welcoming workplace for all. The DEIB program includes the establishment of resource networks for LGBT+, women at work, and “special life” team members, which include single parents and differently-abled workers. [caption id="attachment_149059" align="aligncenter" width="525"] Aboitiz Group drives Philippine development through inclusive growth. In Cebu City, reliable power empowers the town, improving lives and supporting economic growth and trade among APEC economies. Union Bank of the Philippines, led by Aboitiz, promotes financial inclusion through digital banking nationwide.[/caption] Group wide, Aboitiz also implements several initiatives that further celebrate diversity and maintain an inclusive workplace. Among these are information sessions and people stories for Women’s Month, Pride Month and Mental Health Month. The company also boasts a balanced representation of male and female team members, fostering an environment that values gender equality and provides equal opportunities for all. Aboitiz Equity Ventures, AboitizPower and Aboitiz InfraCapital are proud member companies of the Philippine Business Coalition for Women Empowerment, a nonprofit organization advocating workplace gender equality. Aboitiz understands that the overall success of the company also depends on the individual success of the team members. And by creating a culture where everyone feels valued, respected and included, the Aboitiz group makes sure that no one is left behind in the journey toward progress. The Aboitiz-led UnionBank of the Philippines plays an important role in the group’s digitalization path, driven by its dedication to “Tech-Up Pilipinas” and fostering widespread economic growth. Environmental stewardship also lies at the core of Aboitiz’s efforts, as the company actively pursues environmentally responsible practices and solutions that meet the sustainable development goals set by the United Nations. Aboitiz Equity Ventures, the holding company of the Aboitiz Group, has placed sustainability at the forefront of its business strategy. The Aboitiz Cleanergy Park, located at the tip coast of Punta Dumalag, Matina Aplaya, Davao City, is a huge part of Aboitiz's sustainability efforts. The eight-hectare biodiversity park serves as a haven for migratory and local birds, various mangrove species, a pawikan rescue center facility and a nesting ground for critically endangered sea turtles. By partnering with the Department of Environment and Natural Resources, Aboitiz continues to live out its sustainability efforts by also spearheading the protection and rehabilitation of Boracay Wetland No.4. As a linear urban park, the Boracay Wetland will offer a range of recreational activities that incorporate eco-friendly tourism designs, ensuring minimal environmental impact. Apart from biodiversity conservation, Aboitiz InfraCapital, the infrastructure arm of the Aboitiz Group, advocates better water resource management via corporations like Apo Agua Infrastructura Inc. and LIMA Water Corporation. Apo Agua is building one of the Philippines’ largest private bulk water supply facilities in Davao City, which harnesses sustainable water sources and provides reliable water supply to the growing population of Davao City. The project not only ensures access to clean water but also supports the local economy and promotes environmental stewardship. The post Committed to equity, sustainability, opportunity appeared first on Daily Tribune......»»
DBM okays P5-B for BARMM
ZAMBOANGA CITY — T he Bangsamoro Autonomous Region in Muslim Mindanao will receive P5 billion from the Department of Budget and Management for use in rehabilitating its conflict-ridden communities, including those in Marawi City. BARMM Chief Minister Ahod Balawag Ebrahim said yesterday that DBM Secretary Amenah Pangandaman confirmed the approval of the fund as provided under Section 2, Article 15 of Republic Act 11054 or the Bangsamoro Organic Law. “BARMM is taking advantage of this funding and will fully utilize it to help those in need, and to improve areas that need further development,” Ebrahim said. According to Ebrahim, RA 11054 mandates the national government to allocate a yearly P5-billion Special Development Fund to the BARMM government over a period of 10 years to rebuild, rehabilitate and develop the region’s conflict-affected communities. The budget allocation will be released by the Bureau of Treasury to the BARMM government through an authorized government servicing bank, subject to cash programming by the national government. Ebrahim said the P5 billion is on top of the P64.8-billion block grant for the Bangsamoro government in the 2023 Budget. In line with President Ferdinand “Bongbong” Marcos Jr. directive, DBM will continue to assist BARMM to ensure a smooth transition and strengthen its communities. The post DBM okays P5-B for BARMM appeared first on Daily Tribune......»»
RCBC Helps 4Ps/CCT Families Easily Access Government Aid in Lake Sebu
Rizal Commercial Banking Corporation (RCBC), a leading challenger bank in the Philippines, has partnered with the Department of Social Welfare and Development (DSWD) to assist hundreds of Pantawid Pamilyang Pilipino Program (4Ps)/Conditional Cash Transfer (CCT) beneficiaries in Lake Sebu, South Cotabato. This geographically isolated and disadvantaged area (GIDA) has limited access to financial services, making […].....»»
BIMP-EAGA nations’ trade cooperation pressed
In his recent trip to Indonesia for the Asean meeting President Ferdinand “Bongbong” Marcos Jr. urged collaboration to foster the progress of the Brunei Darussalam-Indonesia -Malaysia-Philippines-East ASEAN Growth Area or BIMP-EAGA due to its substantial potential for development. The Chief Executive made the call as he joined the intervention of the 15th BIMP-EAGA Summit on the sidelines of the 42nd ASEAN Summit and Related Summit here. Marcos said the Philippines supports the increased focus of the BIMP-EAGA Vision 2025 on broad strategies to align sub-regional pandemic recovery and transformation efforts with the ASEAN Comprehensive Recovery Framework, particularly in the areas of food security, creative industries and E-commerce, tourism recovery, and green recovery. “So, let us continue this impetus for growth in BIMP-EAGA and thereby position our very own sub-region as a well-connected, economically thriving, multi-country trade, investment and tourism destination. There lies our future,” Marcos said. However, Marcos noted that the pandemic and the conflict in Ukraine demonstrated the need to maintain the physical connectivity that underpins the region’s extensive and comprehensive logistics chain in all its aspects. Hence, the President mentioned that the efforts to revive the tourism industries should be the utmost priority following the pandemic. Linkages must move forward “Our collective effort towards rebuilding the air and sea linkages disrupted by geopolitical challenges and the pandemic still remains the key towards our full economic recovery,” he said. “So, let us work together with our National Tourism Organizations and our private sector counterparts to breathe life into the Joint BIMP-EAGA and IMT-GT Tourism Recovery Communications Plan 2022-2024. Let us spread the tidings that a visit to the BIMP-EAGA sub-region is a safe, stress-free return to nature,” Marcos added. Increased tourism will also reinvigorate the sub-regions micro, small and medium enterprises or MSMEs, the backbone of the economy fundamental to achieving sustainable economic growth and narrowing the development gap, and instrumental in wealth and employment creation, raising standards of living and poverty reduction. The President also rallied anew for support for “nano businesses,” or the kind of self-employed businesses that fall outside of the category of MSMEs, such as dry cleaners, corner shop owners, single retail marketers, repairers and painters, among others. “Though they constitute a large portion of all economies, viable, and play an important role across the country, they remain unrecognized… aiding them will contribute to our overall economic growth and will narrow those development gaps,” Marcos said. The President also emphasized the importance of BIMP-EAGA’s synergies and partnerships with external partners, such as the Asian Development Bank, Japan, Republic of Korea, China and the Northern Territory of Australia. Calling for sustained partnerships with those entities, the Philippine leader also welcomed the BIMP-EAGA-Korea Cooperation Fund or BKCF and the increase of the Republic of Korea’s contribution from $1 million in 2021 to $3 million in 2022. He reported that the Philippines, in particular, continue to benefit from the BKCF Fund from projects in the Environment, Tourism, and Connectivity Sectors, with a total support worth an estimated $1.2 million. At the same time, BIMP-EAGA must achieve strategic coherence within the larger ambit of ASEAN initiatives and sustain platforms of dialogue through regional mechanisms, including APT, RCEP, APEC, AANZFTA, and the ASEAN Plus 1 FTAs. Launched in 1994, BIMP-EAGA has delivered impressive results with the current numerous transport networks spanning the sub-region, buttressed by enhanced economic policies facilitating the movement of goods, people, and services. The post BIMP-EAGA nations’ trade cooperation pressed appeared first on Daily Tribune......»»
Landbank allots P1.5 billion to assist power firms
State-run Land Bank of the Philippines is allocating an initial P1.5 billion to aid power firms cushion the impact of high electricity charges on consumers......»»
Merger risks coco tillers‘ interest
The proposed merger of state financial institutions Development Bank of the Philippines and the Land Bank of the Philippines may place in peril the welfare of coconut farmers since “it will dilute the mandate of the LandBank to assist coco levy beneficiaries,” Senator Risa Hontiveros said on 18 April. It will make it even more difficult for the beneficiaries to access support from the fund, she added. In Senate Resolution 570, Hontiveros emphasized that the merger “raises concerns on the potential risks and benefits it may bring to the economy, the stability of the financial system, and various stakeholders, including the employees of both institutions.” On 28 March, Finance Secretary Benjamin Diokno announced that the government was contemplating a merger with LandBank as the surviving entity. This would also create the largest banking institution in the country, with a total of more than P4.179 trillion in assets. If the merger pushes through, according to Hontiveros, the welfare and livelihood of thousands of employees of both institutions may be at risk. Labor terms violated Resolution 570 also underscored the concerns raised by The Land Bank of the Philippines Employees Association and the DBP Employees’ Union that the LBP and the DBP will violate terms of their respective Collective Negotiations Agreements by failing to consult the merger with the unions. “As the two banks merge operations, it is possible that certain jobs will be eliminated or reduced in size. It will negatively affect employee morale and job satisfaction. Changes in leadership, organizational structure, and company culture can create anxiety. Employees should not carry the burden of job uncertainty and financial hardship that will result from this merger,” Hontiveros said. Likewise, Hontiveros urged Malacañang not to rush the proposed merger and instead devote more time to analyze it extensively, consult with key stakeholders, and resolve not just the legal issues, but all the operational and personal issues voiced out by the employees and the small coconut farmers. Hontiveros earlier warned that the merger would result in a financial entity “too big to fail” as the 2008 global financial crisis proved that large banks are riskier and tend to introduce more systemic risk into the financial system. “There is a need for the government to proceed cautiously and prudently vis-à-vis the contemplated merger, as well as clarify all legal issues involved, for the purpose of ensuring that this does not prejudice the country’s economy, the stability of the financial system, and the welfare of affected employees and depositors,” the resolution stated. The post Merger risks coco tillers‘ interest appeared first on Daily Tribune......»»
World Bank okays P19.5-billion loan to support PH reforms
The World Bank approved on Friday a $400-million (around P19.5-billion) loan to support reforms that will assist the Philippine government in achieving a resilient financial sector and help ensure a more inclusive recovery from the COVID-19 pandemic......»»
LandBank allocates P153 million for ID system
State-run Land Bank of the Philippines has allotted over P153 million for the hiring of over 1,000 service contract workers now being deployed to several locations across the country to assist in the opening of transaction accounts for unbanked national ID registrants......»»