Argao robbery: Two men break into pharmacy, steal P90,000 cash
CEBU CITY, Philippines — Two men wearing black bonnets robbed a pharmacy at past 2 a.m. today, Dec. 2, in Argao town in southern Cebu and fled with P90,000 cash. Police Corporal Ariel Conde, investigator of the Argao Police Station, said that a part of the face of one of the robbers was caught by […] The post Argao robbery: Two men break into pharmacy, steal P90,000 cash appeared first on Cebu Daily News......»»
4Ps program cannot be used for electioneering — DSWD
The Department of Social Welfare and Development reiterated on Friday that its Pantawid Pamilyang Pilipino Program (4Ps) cannot be, in any way, used for electioneering or any partisan political activities. “Sa atin pong mga kababayan, kahit sino pong mangako sa inyo na kayo'y mapapasama sa 4Ps program, malamang hindi ho magkatotoo 'yan. Hindi ho magkatotoo 'yan… DSWD data lang po ang tatanungin, DSWD personnel din lang po ang makakapag-assess po sa inyo, hindi po kahit sinong kandidato (To our kababayans, whoever promises to you that you will be included in the 4Ps program, it will not come true… only DSWD data will be used, only DSWD personnel can assess you, not just any candidate.),” Assistant Secretary Romel Lopez said According to 4Ps National Program Management Office (NPMO) Director Gemma Gabuya, the program only utilizes the National Household Targeting System for Poverty Reduction (NHTS-PR) or a list to identify the profile of poor beneficiaries. Gabuya, however, stressed that the inclusion to the list does not guarantee any provision of cash aid or automatic inclusion to the 4Ps since it is only a database that can be used to determine who and where the poor are. Exiting 4Ps households Following the memorandum of Secretary Rex Gatchalian on 19 July to defer the exit of 4Ps beneficiaries who were tagged as non-poor, the 4Ps NPMO conducted a reassessment of 1,158, 249 non-poor 4Ps households using the Social Welfare and Development Indicators (SWDI) from July to September. Based on the result of the reassessment, Director Gabuya said about 761,150 households are not yet capable of exiting the program, while 339,660 beneficiaries were already under the self-sufficiency level. “Isa sa main factors is the COVID kasi maraming nawalan ng trabaho. Alam naman natin na ang mga 4Ps, ang mga trabaho nila hindi naman talaga matataas yung kanilang mga income(One of the main factors is the COVID because many lost their jobs. We know that 4Ps members, do not have huge income.),” Gabuya explained. The 4Ps is a human capital development program that aims to break the intergenerational cycle of poverty among poor households by investing in the health, nutrition, and education of poor households. In 2019, the program was institutionalized as a regular program of the DSWD and a national poverty reduction strategy of the national government through Republic Act 11310 or the 4Ps Law. Under the law, the program beneficiaries will now only be covered for a maximum of seven years. and will be closely monitored using the social case management process. The post 4Ps program cannot be used for electioneering — DSWD appeared first on Daily Tribune......»»
Piggy bank heist
Big-time robbers recently struck, stealing P13 million in cash and jewelry in Tagum City, Davao del Norte. According to police investigators, the brazen break-in at a shopping center on the evening of 5 September was carried out by robbers who entered through a hole in the wall they had bored from a vacant parking lot next to the building. The robbers stole P4 million from an automated teller machine and P9 million in gems from a jewelry store while mall security guards were outside and were unaware of the thefts, according to GMA Integrated News. Police suspected the robbers were also behind the burglary of a grocery store in Davao City and another mall in Agusan del Sur. Robbers used to hit banks for the bigger cash loot, but perhaps such targets are too risky for them these days. In Calasiao, Pangasinan, two thieves also opted to be safe and struck a store. An outdoor surveillance camera caught one man breaking the lower part of the door of the store in Barangay San Miguel. The footage then showed a companion entering through the opening. The robbery netted them not only P8,000 in cash earnings of the store but, apparently not content with the amount, they also took the piggy bank of the store owner’s child, according to GIN. The post Piggy bank heist appeared first on Daily Tribune......»»
China developer Evergrande plunges as Hong Kong trading resumes
Shares in troubled Chinese property giant Evergrande plummeted nearly 80 percent in Hong Kong on Monday after the end of a 17-month trading suspension. The resumption of trading came after the company said in a filing on Friday that it had met guidelines set out by the bourse, including belatedly publishing its financial results and complying with other listing rules. Once China's largest real estate firm, Evergrande defaulted in 2021 and is saddled with more than $300 billion in liabilities, becoming a symbol of the nationwide property crisis that many fear could spill over globally. Its shares plunged as much as 87 percent during morning trading, slashing its market value from a peak of more than $50 billion in 2017 to less than $600 million. It finished the day down 79.4 percent. The company on Sunday reported fresh losses for the first half of the year amounting to 33 billion yuan ($4.53 billion) -- an improvement on the 66.4 billion yuan in losses reported in the same period last year. But its cash assets fell from $2 billion last year to $556 million, reflecting its dwindling liquidity. China's property market "cooled down significantly" in the first six months of the year and saw new defaults in the sector, "further exacerbating the volatility in the market", Evergrande said. "Based on the principles of respecting international restructuring practices and treating the rights and claims of all creditors in a fair and equitable manner, the Company steadily pushed forward the work related to the restructuring of its offshore debts," the firm added. In March 2022, the Hong Kong stock exchange suspended trading in Evergrande shares after it failed to publish its 2021 financial results. Its earnings for 2021 and 2022 were published last month, showing a net loss of more than $113 billion over the two-year period. The company risked being delisted if its shares were suspended from trading for 18 months, according to Hong Kong stock exchange rules. Creditor meetings delayed Evergrande was supposed to hold creditor meetings on Monday on its offshore debt restructuring proposal, but it announced in the afternoon the meetings were delayed -- just hours before they were set to take place. The postponement of roughly one month will allow creditors to "consider, understand and evaluate" the plan, the company said in an exchange filing. The meetings will take place between 25 and 26 September, which the developer said was "in line" with the timetable creditors expected. Evergrande's plan offers creditors a choice to swap their debt into new notes issued by the company and equities in two subsidiaries, Evergrande Property Services Group and Evergrande New Energy Vehicle Group. Earlier this month, the company filed for bankruptcy protection in the United States, a measure to safeguard its US assets during its restructuring. It is also fending off winding-up petitions in Hong Kong courts, with one case adjourning its hearing to October. China's real-estate sector has proven to be a stumbling block as the world's second-largest economy tries to break out of a post-Covid slump. Fellow Chinese property developer Country Garden now risks defaulting on its bond payments next month, with the company saying there are "major uncertainties in the redemption of corporate bonds". The post China developer Evergrande plunges as Hong Kong trading resumes appeared first on Daily Tribune......»»
Empowering Filipinos with inclusive next-generation technology
Over the past decade, the telecom industry has disrupted our lives more than the century that preceded them. The advancement in telecom technology has transformed all industries, with economic fundamentals shifting to adapt to the mobility and digitally connected lifestyle. Indeed there is no limit to what can be connected, the size of the connection, or even the services provided in the connected world. There is no limit to what the connected experience demands. "While we embrace the power of technology, we also recognize the significance of making these advancements accessible to all. Inclusivity is the driving force behind our innovation as we strive to empower individuals and communities with our transformative mobile and broadband solutions," said Evelyn Jimenez, DITO Telecommunity chief commercial officer, at the launch of their latest products DITO Mobile Postpaid FLEXPlans and DITO Home UNLI 5G WIFI. She said the rollout aims to empower all Filipinos and telecommunities by giving them access to affordable high-speed 5G connectivity. DITO is also making its presence felt after OpenSignal, an independent mobile analytics company, awarded DITO multiple noteworthy awards in their latest report: Upload Speed Experience, Availability, Excellent Consistent Quality, and Core Consistent Quality. DITO even dislodged Smart Communications from the top spot in the Excellent Consistent Quality category after scoring a record-breaking 58.8 percent versus Smart's 56.7 percent. Moreover, on Core Consistent Quality, DITO soared to a 79.9 percent rating, knocking-off Globe Telecom, from the top spot, only registered 77.7 percent. Incidentally, DITO's Upload Speed has also risen remarkably, with a score of 5.2Mbps. At the same time, the Availability Award they received recognized DITO for providing a robust and reliable network connection in places where people commonly go, allowing users to access DITO's network and stay connected easily. All these accolades in just their 2nd year of operations are a breakthrough achievement for the people's fave new telco, DITO Telecommunity. Postpaid plan for everyone DITO Mobile Postpaid FLEXPlans, the telco provider's newest mobile service, gives every Filipino a chance to upgrade to postpaid. Customers can choose from affordable and flexible SIM-Only Plans (with a locked-in period of 6 months) or Handset Plans (with a locked-in period of 24 months). For as low as P588 a month, Filipino customers can enjoy the benefits of DITO Mobile Postpaid, such as generous data allocation, data rollover, UNLI all-net calls and texts, premium handset offerings, and a bonus Prime Video subscription for 12 months. For Handset Plans, DITO partnered with Samsung for premium yet affordable phones that customers can choose from. Samsung Galaxy A02 is accessible for all plans, Samsung Galaxy A04 is free for FLEXPlan 888, while Samsung Galaxy A14 5G is free for FLEXPlan 1288. Samsung Galaxy S23 is also available with a corresponding cash-out requisite which can be viewed via this link dito.Ph/postpaid/handsets. Other Samsung handsets will also be available soon. DITO Postpaid plan customers are entitled to other FLEXible mobile service features such as Advance Pay, Mobile Number Portability, and Choose Your Number. Advance Pay allows SIM-Only Plan subscribers to make advance payments for their monthly subscription fees with a discount of up to 40 percent. It would also be good to note that customers can easily use Mobile Number Portability to carry over and keep their favorite Prepaid or Postpaid number as they switch to DITO Postpaid. They may also choose their number or purchase a vanity number for their new DITO postpaid plan. Customers using these features must apply for their DITO Mobile Postpaid FLEXPlans via DITO Experience Stores only for proper handling and servicing. To ensure the convenience of customers, DITO assures a fast and straightforward application process for their postpaid plans. Interested customers may apply for a DITO Mobile Postpaid FLEXPlan through the DITO APP, DITO Experience Stores, and Device Retail Partner Stores nationwide (Rulls, MemoExpress, EC Panda). They need to bring the following: Proof of Identification (at least one valid government ID), Proof of Financial Capacity (For example Certificate of Employment, Credit Card Bill Statement, and the like), Proof of Billing that reflects the Customer's Address, and a selfie (for applications made via the DITO APP). "DITO wants all Filipinos to have equal opportunities to reach their digital aspirations. By introducing our DITO Mobile postpaid offerings, we want to break the notion that postpaid plans are too expensive and reserved for a select few. At DITO, we're proud to say that there's a postpaid plan for everyone," affirmed Jasper Evangelista, DITO director for Brand and Marketing. The post Empowering Filipinos with inclusive next-generation technology appeared first on Daily Tribune......»»
Flexible installment plans for Apple devices via SM Malls Online and Polka.PH
Before Investing in a brand-new Apple device, make sure to check SM Deals for the best tech deals available at SM Supermalls. SM Malls Online now offers flexible and easy installment options for Apple’s most sought-after products via a partnership with Polka.PH. No credit card required, 0 percent interest Choosing from two- to six-month competitive installment plans with absolutely 0 percent interest on selected items, you won’t need to fully pay for your Apple product immediately since payments are broken down into monthly or staggered payouts. This allows you to enjoy your premium Apple devices and their features while paying for them over time. There’s no pressure to pay the total cost of an item upfront, giving you more elbow room to settle your bills and personal expenses first. How to shop? In order to enjoy these installment plans, make sure you have the SM Malls Online app up and running on your smartphone with a registered account. Go to the Polka.PH brand page and check out your desired product by choosing the CASH payment option. Within 24 hours, an e-mail with a checkout link from Polka.PH will be sent to you, where you may upload your required documents and submit your installment plan application. The requirements include any one valid government ID, and your company ID or certificate of employment or equivalent of your proof of work. You’re also required to present your latest one-month pay slip or any proof of income covering the last three months like a bank statement or PayPal transaction history. Once approved, you can now opt to have your order picked up at Polka.PH’s physical store in SM City North EDSA or have it conveniently delivered to your doorstep. Note: Your chosen installment plan will commence shortly after your order has been fulfilled. Choosing the credit card payment option at checkout will make your purchase invalid. Pick your Apple Some cutting-edge Apple products available for your choosing include the MacBook Pro, MacBook Air, Apple Watch, AirPods, iPad Pro and mini, and the iPhone series (from 11 up to the 14 Pro models). The MacBook Air and MacBook Pro carry Apple’s own silicon chips, M1 and M2, with the latter being available in either 14 and 16 inches. Arguably, the iPhone 11 is the most accessible in the lineup today in terms of price tag, so that can be a feasible option if you’re looking into getting into Apple ownership. If your budget allows, shop the latest iPhone 14 Pro flagship series to enjoy new features such as the Always-On Display and Dynamic Island. Smartphones from top tech brands like Samsung, Tecno, Xiaomi, Oppo, realme, Vivo and Infinix are also available. All products are brand new and come with complete warranty and an official receipt. If you’re keen on experiencing Apple’s premium technology or looking into upgrading your existing device with installment plans that won’t break bank, shop via the SM Malls Online app and Polka.PH today. Check SM Deals for the best deals and offers available at SM Supermalls. The post Flexible installment plans for Apple devices via SM Malls Online and Polka.PH appeared first on Daily Tribune......»»
Idolizing Danny Dolor (The man I might have been if I had at least P500 million)
Here’s sharing with you Cyber Proust’s (now Proust Redux) winning piece when he joined the 2010 Philippine Star Lifestyle Journalism Contest sponsored by Rustan Commercial Corporation and the Stores Specialists, Inc. The announcement called for feature articles, as many as one could submit, about heroes, dead or alive. Cyber Proust submitted three — one about his mother; another about a blogger who tells stories about his clan and people like them, making for a good read for people interested in Philippine upper class but not necessarily high society; and this one, about Danny Dolor, Cyber Proust’s patron and benefactor when Cyber Proust had not yet declared himself rich. Here goes: My hero, my icon, the man I’d rather be When people are asked who they want to be if they ever get the chance to live their lives all over again, they almost always say they want to be the same person. If you ask me the same question, I’d have the same answer, only because I want to keep the same set of parents. But if I could keep my Dad and Mom, and still be someone else, I’d look at you straight in the eye, and declare, I want to be Danny Dolor. I can think of a hackneyed thousand and one reasons why I prefer to breathe and eat and live like Sir Danny, but let me stick to the quintessential five. First, he is rich which we all want to be. He is an art lover which I profess to be. He is a trailblazer even if he is a Libran who prefers balance, while I am an Arian who always wants to be the first. He was a good son who took care of his mother in her old age, which every good son should do especially if he were single. I am single, but I was always away from home, too busy changing and finding writing jobs. The closest I got to emulating Sir Danny was spending endless nights conversing with my mother whenever I was home during Christmas breaks. Sir Danny, on the other hand, never travelled abroad because he wanted to be by his mother’s side every night of the year. When he visited Lipa, their hometown, he would pick up his mobile phone to check on his mother and sister Fe in their Makati home, rattling off his orders to their yaya — check their temperature, don’t forget the medicine after their merienda, and so on. Finally, Danny Dolor is a good Catholic who hears Sunday Mass, fingers his beads when in the car, and joins the procession on Good Friday beside his own Mater Dolorosa. How I wish I could give away lands on which to build churches, donate thousands of portfolio bags for priests attending their annual convention, and build a museum in honor of a townsman, Alfredo Maria Obviar, who may yet be the first Filipino bishop to be beatified and, in God’s time, canonized. First conversation I am lucky to have an icon whom I have seen up close. I have seen Danny Dolor when he goes into a trance as he describes his first conversation with National Artist Atang de la Rama, to whom he became a friend and confidante, or fits of laughter as he recalls the usually funny repartee between his friends Sylvia La Torre and Oscar Obligacion when the latter was still alive. For all the secrets and fun times we have shared, I stick to calling him Sir as I did the first time I interviewed him in his thickly-carpeted, air-conditioned and perfume-smelling den. I had known about the man before I ever met him. I knew about his Tribung Pinoy which concertized all over the country in the late 1970s all the way to the mid 1980’s. I never saw them perform in person, but I read about Danny Dolor and his gang of sopranos, tenors and baritones who rendered their harana, danza, balitaw and, of course, kundiman, in schools and churches, and quixotic venues like the Culion Leper Colony in Palawan, the mental hospital and the women’s correctional where the patients and inmates cried, sang, danced and thanked him because no one ever came to sing for them. The path-breaking Danny Dolor also produced the first ever concert at the Cultural Center of the Philippines featuring an all-Filipino-traditional-music repertoire. Danny Dolor’s house, at that time when I interviewed him, was along Tamarind corner Banaba in uppity Forbes Park. In the den, paintings, sculptures, plaques, and trophies vied for the attention of first-time guests. I immediately liked a Zalameda portrait of a basketball player, but what impressed me was a plaque with Latin inscriptions which, my host explained to me, was his papal award. He next brought me to the lanai, thrice as large as the den, where beside the lacquered opium bed stood a gigantic St. Joseph. He showed me a life-size oil portrait of Charito Solis, Ramon Valera ternos worn by Gloria Romero and his sister Fe, and original drawings of Darna by Mars Ravelo. The man, who knows his art, takes pride in his penchant for everything Filipino. It is an interest that goes a long way back to his childhood during the Japanese occupation. In the family hacienda where they evacuated, he listened to the farmers sing native songs. In grade one a year or two later, the young Danny sang Bayan Ko before his classmates, to the shock of the teacher who probably expected Jack and Jill. When Sir Danny was in grade school, he watched Filipino films in the movie houses along Rizal Avenue. As a high school student, he listened to the Mabuhay singers over the radio. In college, he watched Tawag ng Tanghalan on television. Is it any wonder that he should mount a best-selling exhibit of movie ads from the golden years of Philippine cinema? Or that he has maintained, for more than ten years, a column in the Philippine Star, “Remember When?” featuring the movie stars and great musical talents of yesteryears? Danny Dolor is unique in that he straddles the worlds of show business and high society, which many find incompatible. Not with him who has produced movies, including Indie films, and concert tributes honoring luminaries of the silver screen like Director Hermogenes Ilagan and movie queen Carmen Rosales. His involvement in the upper strata, on the other hand, is never without a good reason. For example, he collaborated with the socialite businesswoman Nedy Tantoco in organizing the best-selling Ramon Valera retrospective exhibit. If he is chummy with the grand dame Imelda Cojuangco that’s because he is a loyal and trusted officer the Cofradia de la Inmaculada Concepcion, of which she is the chair. Every year, come Feast of the Immaculate Conception, they gather hundreds of children from depressed areas to receive their first holy communion. Imagine the mix For all of these, he takes a break from his duties as chairman of various companies that include a hospital, hotel, educational institution, bank and subdivisions. Imagine the mix — movies, music, church, business and high society. And he dances the Rigodon too. How can one not desire such completeness? There’s something though he’d rather not be said about him. In my times of need, he does not hide under his canopied bed, and in the milestones of my life, he gives me a thick red envelope. Once I ran out of cash to pay my rent, I called him up and told him that if only I could touch the tip of his pants, I was sure to have what I needed. Scolding me first for being such a cheap copy of the woman in the bible, he said Yes to my pleadings, while reminding me to help him prepare another souvenir program for yet another concert tribute for another forgotten gem of Philippine music. The man does not believe in outright charity. Not to me, anyway. And while he is patient with me, he insists that I “fix” my life for “all these things you delight in will soon come to pass” and “if you do not take care of yourself, who will?” and so on. From his mother, he passes on a classic gem, “Never do anything that people will notice from afar,” a rough translation of “Huwag kang gagawa ng kahit anong matatanaw mula sa malayo.” In short, don’t be a show-off. My hero and icon, Danny Dolor, is not only a model for living the successful and well-lived life that I dream about. He is also a saviour, a mentor and an angel who, despite the “professional distance” we keep between us as a “client” and as a “talent,” if the relationship must breed results, has come closest to being my “Tito” and best friend. Sir Danny will not be pleased with this article. He will think that I need to borrow money from him again. The post Idolizing Danny Dolor (The man I might have been if I had at least P500 million) appeared first on Daily Tribune......»»
COMELEC asked to exempt DSWD, related agencies from election spending ban
The Commission on Elections has been asked to consider exempting the Department of Social Welfare and Development and other related agencies doing relief work in the province of Albay in light of the impending election spending ban. Albay Rep. Joey Salceda, who made the appeal on Saturday, sent a letter to the poll body, requesting that the DSWD and other government agencies involved in relief operations in Mayon Volcano be granted exemption from Omnibus Election Code amid the upcoming Barangay and Sangguniang Kabataan polls on 30 October. "Any minute, Mayon could erupt violently. This could also be a prolonged evacuation effort. Nobody knows for sure. But it's better to be safe and be ready with all the relief programs we need -– this could extend beyond the Barangay elections," the veteran lawmaker said. "Clarity is everything for us. We want to abide by the law. And we want to take care of our people. We want to do both. COMELEC has the means and the power to help us do both. That’s why we are making this request," Salceda added. Mayon's violent eruption, according to Salceda, might affect at least 103,181 people in eight cities and municipalities in Albay, accounting for 7.5% of the province's entire population. Meanwhile, 39,901 individuals are currently directly at risk under Alert Level 3. Since warnings of an imminent violent eruption have been known to come and go, Salceda believes that evacuation operations might take 45, 90, or 110 days. "Evacuation efforts must continue until volcanic activity clearly subsides or until a violent eruption actually occurs. Until then, evacuees will require food aid, training activities, cash-for-work programs, and other socioeconomic support to replace economic activities they are barred from doing due to the evacuation orders," Salceda added. Amid the restiveness of Albay's Mayon, the lawmaker averted that relief operations from various agencies would not end once the eruption. The economist-lawmaker said the eruption will displace agricultural, quarrying, ecotourism, and other economic activities in the danger zones, indirectly affecting Albay's economy as a whole. "Likewise, a violent eruption will also likely cause health issues, which will require immediate medical attention and corresponding support through the Medical Assistance Program." With this, Salceda asks Comelec, which had the power under the Omnibus Election Code, to allow such other expenditures especially forDSWD-like activities. Section 261 of the Omnibus Election Code prohibits the release, disbursement, and expenditure of public funds 45 days before a regular election and thirty days before a special election, but emergency works due to a public calamity and maintenance of existing public works are exempted from the provision. The BSKE election, which was originally set for 5 December of this year, was moved to an earlier date, pursuant to Republic Act 11935, signed by President Ferdinand Marcos on 12 October last year. The coming grassroots poll this year will break the year-long postponement. Recall that BSKE has been postponed four times since 2016 through RAs 10923, 10952, 11462 and 11935. The post COMELEC asked to exempt DSWD, related agencies from election spending ban appeared first on Daily Tribune......»»
UN food agency announces ‘heartbreaking’ cuts to Haiti aid
The UN World Food Program on Monday announced deep cuts to emergency food assistance in Haiti that will see some 100,000 people go without aid this month, a move a top official called "heartbreaking." Halfway through the year, the organization's response plan in Haiti is only 16 percent funded, the agency said, and the cuts amount to a 25 percent reduction compared to June. "These cuts could not come at a worse time, as Haitians face a multi-layered humanitarian crisis, their lives and livelihoods upended by violence, insecurity, economic turmoil, and climate shocks," said Jean-Martin Bauer, WFP country director for the Caribbean nation. He added: "Unless we receive immediate funding, further devastating cuts cannot be ruled out." In the first six months of 2023, the WFP provided food or cash aid to some 1.5 million people, including school lunches for 450,000 children -- a program now at risk of huge cuts. "Without an injection of funds, nearly half of these children will no longer have access to school meals when they return to class after the summer break," the agency said. The WFP estimates it requires $121 million through the end of the year in Haiti. "It is heartbreaking. Haiti is a country that has suffered so much," said Stephane Dujarric, spokesman for the United Nations Secretary-General. "And has been so forgotten, despite the fact that it is so close to so much wealth." According to the UN, just under half the Haitian population -- about 5.2 million people -- are in need of some form of humanitarian assistance, including 3 million children. That fragile situation has been further exacerbated by a relentless political crisis compounded by the government's loss of control of territory to armed gangs. The post UN food agency announces ‘heartbreaking’ cuts to Haiti aid appeared first on Daily Tribune......»»
OFW monies reach $2.78B
Cash remittances coursed through banks increased in May following the growth in receipts from workers abroad. Data from the Bangko Sentral ng Pilipinas on Monday showed that overseas Filipino remittances reached $2.78 billion in May 2023, higher by 2.9 percent than the $2.70 billion registered in the same month last year. “The expansion in cash remittances in May 2023 was due to the growth in receipts from land- and sea-based workers,” BSP said in a statement. Consequently, personal remittances for the first five months of the year grew by 3.1 percent to $14.46 billion, from $14.02 billion posted in the comparable period in 2022. On a year-to-date basis, cash remittances reached $12.98 billion, 3.1 percent higher than the year-ago level of $12.59 billion. “The growth in cash remittances from the United States, Singapore, and Saudi Arabia contributed mainly to the increase in remittances in the first five months of 2023,” BSP said. “Meanwhile, in terms of country sources, the US posted the highest share of overall remittances during the period, followed by Singapore, Saudi Arabia and Japan,” BSP added. In an emailed commentary, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the continued growth in the year-on-year overseas Filipino remittances might have to do with increased holiday-related spending since the Holy Week in April 2023. “More people travel to go back to their respective hometowns in the provinces for vacations, also during the school break (June to July), spend for gatherings/reunions, as well as finance vacations locally or overseas,” Ricafort said. He added that relatively higher inflation also required sending more money to families and dependents in the Philippines. Ricafort said that further reopening the economy towards greater normalcy also led to increased spending with some pent-up demand or revenge spending by OFW families and dependents that were partly financed with the increased OFW remittances. Meanwhile, President Ferdinand Marcos Jr. on Monday encouraged overseas Filipinos to return to the Philippines, citing the “great many opportunities” for them here. During the courtesy call of 2023 Very Important Pinoy Tour participants in Malacañang, Marcos encouraged overseas Filipinos to come home and bring their children back to the Philippines so that they could learn about Filipino culture. “There are a great many opportunities for you and for the country as we try to transform the economy,” Marcos said. “I encourage you to come back and see what is happening in the Philippines,” he added. He also praised the contributions of overseas Filipinos to the Philippines, saying that they were “practically parts of their families.” “In every part of the societies that we Filipinos have decided to go to, we have made a very good name for ourselves,” Marcos said. “And for that, we thank our Filipino brothers and sisters who live abroad and continue to make the name of the Philippines shine.” Marcos added that Filipinos worldwide have become and continue to become an essential part of Philippine society and of the places where they decided to live and work. Per its website, the VIP Tour is led by the Department of Foreign Affairs in collaboration with the Department of Tourism and Rajah Tours. The current year’s travel plan blends the finest attractions of Metropolitan Manila, Iloilo and Boracay, offering participants a thrilling and educational vacation experience. The post OFW monies reach $2.78B appeared first on Daily Tribune......»»
Remittances reach P2.78B, rise by 2.9%
PAMPANGA – Cash remittances coursed through banks increased in May following the growth in receipts from workers abroad. Data from Bangko Sentral ng Pilipinas showed on Monday that overseas Filipino remittances reached $2.78 billion in May 2023, higher by 2.9 percent than the $2.70 billion registered in the same month last year. "The expansion in cash remittances in May 2023 was due to the growth in receipts from land- and sea-based workers," BSP said in a statement. Consequently, personal remittances for the first five months of the year grew by 3.1 percent to $14.46 billion, from $14.02 billion posted in the comparable period in 2022. On a year-to-date basis, cash remittances reached $12.98 billion, 3.1 percent higher than the year-ago level of $12.59 billion. "The growth in cash remittances from the United States, Singapore, and Saudi Arabia contributed mainly to the increase in remittances in the first five months of 2023," BSP said. "Meanwhile, in terms of country sources, the U.S. posted the highest share of overall remittances during the period, followed by Singapore, Saudi Arabia, and Japan," BSP added. In an emailed commentary, Rizal Commercial Banking Corp. chief economist Michael Ricafort said the continued growth in the year-on-year overseas Filipino remittances growth might have to do with increased OFW remittances sent back home in May 2023 in time to finance holiday-related spending continued since the Holy Week in April 2023. "More people travel to go back to their respective hometowns in the provinces for vacations, also during the school break (June to July), spend for gatherings/reunions, as well as finance vacations locally or overseas," Ricafort said. He added that relatively higher inflation also required sending more overseas Filipino remittances to families and dependents in the Philippines. Ricafort said further reopening the economy towards greater normalcy also led to increased spending with some pent-up demand or even some revenge spending by OFW families and dependents locally that are partly financed by increased sending OFW remittances. The post Remittances reach P2.78B, rise by 2.9% appeared first on Daily Tribune......»»
Man’s measure
Only because my barber — not Kuwatog, mind you — would not stop talking about it between snips here and there — I got an earful on a burning issue of the day. That the raging debate escaped someone supposedly with a nose for news betrayed the arena where people have been bashing one another over it. Where else, but on social media. If only to ensure that he was wide awake as he gingerly passed the razor over my nape and sideburns (sideburns, really?), I interjected as needed to break his monologue. Such is the lesson every man should learn early in life, aside from how to spit-shine his shoes. Yes, a man is judged by the state of his footwear — and measured too by his shoe size. LOL. A baseless correlation, right, Kuwatog? But back to the lesson. That lesson is that if there’s one person a man should be able to trust, it’s none other than his barber. In his hands, a man could rest assured of catching some shut-eye and still getting up from the chair. Sweeney Todd, I am going nowhere near your bloody shop. Neither am I going to stick my neck out for you nor your delectation. My barber talked — no, make that pontificated — on how wrong it was for Mimiyawn (or Mumu-yun or Mamasan, or whatever) to say that one should not date someone who had no money, lest she end up dirt poor for life, trapped with a loser. I didn’t know the context of that influencer’s gab, and I was just too sleepy or lazy, or both, to pass judgment either way — pro or against. But surmise I did that the one being admonished was poor too. For if you’re rich and you swim outside your gilded “haves” pond, you being a pricey or prized Lapu-lapu taking a chance with a have-not “tilapia” might just have a happy ending, after all. Think of it like Mozart’s Twinkle, Twinkle Little Star: They may run through a gamut of variations, but whether the rudimentary first, the jazzy fifth, or the nearly macabre sixth, they all, nonetheless, sizzle and sparkle. Truly, a mere variation of women predisposed to having diamonds as their best friend — of marrying a 4-EME man: Matandang mayaman madaling mamatay (an old rich man with one foot in the grave). ‘Tis a well-told story, the love-triangle plot of the musical Fiddler on the Roof: Of the maiden Hodel being set up to marry Lazar Wolf, the town’s rich butcher old enough to be her dad, Tevye (played by Topol in the movie adaptation). You reading this, go ahead if you would, sing “Traditions” or “If I Were a Rich Man” ala Topol, or, more in line with the discussion, Hodel’s “Matchmaker, matchmaker,” especially the meaty: Matchmaker, Matchmaker, Plan me no plans I’m in no rush Maybe I’ve learned Playing with matches A girl can get burned So, bring me no ring Groom me no groom Find me no find Catch me no catch Unless he’s a matchless match. Hodel, of course, followed her heart’s dictates and ended up marrying the student from Kiev, Perchik, but amid the Russian Revolution of the 1900s, we were left hanging, asking whatever happened to the young lovers. My wife, she married into wealth, after biting into the ruse during a date that she had to pay for the burgers and fries because I left my ATM card at home. Told and retold as a funny cautionary tale, my daughters never ceased to find hilarious the “secret” that there was no ATM card to speak of at the time. My old paper was taking my newspaperman’s pay from the “petty cash” box, so how could there be an ATM? Haha. My wife, she married into wealth. Not wealth in terms of pesos, but a wealth of experiences in detaching one’s happiness from what’s in your pocket or wallet. Relax, I’m still working on it, but in my own sweet time. The post Man’s measure appeared first on Daily Tribune......»»
Biden cuts back Asia tour as hopes rise of debt deal
Joe Biden and opposition Republican leaders on Tuesday offered hope of a deal that could avoid a catastrophic US debt default, although the president was forced to shorten an upcoming Asia tour for further crisis talks. After the latest negotiations ended without a breakthrough, Republican House speaker Kevin McCarthy told reporters there was still "a lot of work to do" to break the high-stakes standoff with Democrat Biden over the borrowing limit. But while stark differences remained, the White House said Biden was "optimistic that there is a path to a responsible, bipartisan budget agreement if both sides negotiate in good faith." And McCarthy likewise indicated he ultimately expected a deal, even if so far "nothing has been resolved." "America is the number one economy in the world. And when we get done with these negotiations, America's economy is going to be stronger," he said. The US president -- who flies to Japan on Wednesday for a G7 summit -- scrapped subsequent stops in Papua New Guinea and Australia, instead returning to Washington on Sunday. The Treasury has warned of grim consequences if the country runs out of cash to pay its bills, which would leave it unable to pay federal workers and trigger a likely surge in interest rates with knock-on effects for businesses, mortgages -- and global markets. The United States could begin defaulting on its debts "potentially as early as June 1," Treasury Secretary Janet Yellen said Monday, while the nonpartisan Congressional Budget Office has forecast June 15. The White House said Biden had directed his staff "to continue to meet daily on outstanding issues," and that he would confer with Republican leaders on his return from the G7 meetings. Republicans have continued to insist Biden agree to significant spending cuts in exchange for their support to raise the debt ceiling, ignoring Democratic calls for a "clean" increase of the borrowing limit with no strings attached. Democrats have accused Republicans of using extreme tactics to push their agenda ahead of the so-called "X-date" at which the United States starts defaulting on its debts. In a sign of growing nervousness over what would be the first-ever US debt default, more than 140 top US chief executives sent a letter to Biden and congressional leaders stressing the need for an agreement. "We strongly urge that an accord be reached quickly so that the country can avert this potentially devastating scenario," the letter signed by the CEOs from Pfizer and Morgan Stanley, among others, said. Republicans, who regained control of the House in the 2022 midterm elections, are using their newfound clout to demand cuts of $130 billion from federal agencies and programs in exchange for support for lifting the debt ceiling. This would limit spending in the 2024 fiscal year to 2022 levels. They also want to expedite domestic energy production projects, simplify the process for obtaining permits for pipelines and refineries and claw back unspent Covid relief funding. There are now only three days remaining when the House and Senate are both in session before June 1 -- the day the Treasury predicts the United States could run out of money. Some senators have acknowledged that they may have to cancel the Memorial Day recess beginning Thursday to get a deal finalized. As the X-date draws closer, Democrats in Congress have begun considering a range of alternatives, including using an arcane congressional procedure to bypass McCarthy. They've also contemplated asking Biden to invoke the 14th Amendment to raise the debt ceiling unilaterally, which some legal scholars believe would allow the Treasury to simply ignore the debt limit. But Biden has cautioned that such a move could be challenged in court and has continued to call publicly for Republicans to support a clean increase to the debt ceiling. The post Biden cuts back Asia tour as hopes rise of debt deal appeared first on Daily Tribune......»»
Duterte urged: Call for special Congress session to pass Bayanihan 3
(Updated 4:19 p.m.) Congress is on break until May 17 but Drilon said the Senate is prepared to hold a special session to pass another economic stimulus package, or Bayanihan 3, and expand the government’s cash subsidy program amid the strict lockdown placed on the Metro Manila and nearby areas. .....»»
Skills trainees receive P3,000 cash incentive
Skills trainees receive P3,000 cash incentive.....»»
Xdinary Heroes make ‘extraordinary’ concert in Manila
Members of the South Korean rock band Xdinary Heroes showed that they were no ordinary musicians during their first world tour, “Break The Brake” last March 23 at the New Frontier Theater......»»
Double pay for workers reporting on Holy Week
Workers nationwide may opt to enjoy a long holiday break or hefty pay this Holy Week......»»
Phl at the crossroads
As we all take a break this Holy Week, some of us will pause and ponder on our own individual journeys and think about what lies ahead......»»
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......»»
Globe closed on an additional P1.16-B in tower sales
Globe Telecom, the Zobel Family’s telecommunications company, disclosed that it closed on the sale of another 91 cell towers to Frontier Towers to raise approximately P1.16 billion in cash......»»
Is your salary enough?
The most awaited day for employees is the 15th of the month. On this day, the ATMs become the popularly sought-after machine for salaried employees and workers who must eventually remit their hard-earned cash to their homes......»»