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Project delays prune Converge’s 2024 capex
Broadband provider Converge ICT Solutions Inc. is cutting down its spending guidance for the year to between P12 billion and P14 billion as a result of delays in some of its projects......»»
Bad for Phl’s image
While President Ferdinand Marcos has been wooing private companies, both local and foreign, to partner with the government and to invest in infrastructure development in order to fuel his administration’s push for economic growth and more jobs, there are some in government who seem to be sending a completely opposite message and who are bent on sabotaging whatever gains the country has achieved so far......»»
Cebu City mayor Rama on suspension: ‘I am loving the smell of nature’
CEBU CITY, Philippines – Cebu City Mayor Michael Rama may be on preventive suspension, but he is making the most of it by spending more time with nature. Rama said he is currently enjoying beautiful sites, but did not specify his exact location. “I am not outside Cebu. Basta, I am loving the smell of.....»»
Sunrise cruise and a lagoon experience in Bantayan Island
CEBU CITY, Philippines—Finding stillness and newness may be some of the things you need to realign with yourself. After days of spending long hours in the office or at work, it gets mentally and physically draining to get through another day. Even when you get to do the things that should make you feel better.....»»
‘Save Poro’s trees’: Parish church widens calls vs tree-cutting
CEBU CITY, Philippines — The parish church in Poro town, Camotes Island, in northern Cebu is not giving up on its fight to save hundreds of trees from being chopped down. The Sto. Niño de Poro Parish expanded its online petition, aimed at convincing the government not to cut down over 700 trees for road.....»»
Poro parish church urges gov’t: Don’t chop down our trees
CEBU CITY, Philippines – A parish church in Poro, Camotes Island in northern Cebu wants to save dozens of decades-old trees that stand in the way of road widening projects there. The Sto. Niño de Poro Parish launched an online petition to convince the government to reconsider their decision to cut down over 500 trees.....»»
10th ID bashes Canadian gov’t for travel advisory vs Mindanao
The 10th Infantry Agila Division (10ID) of the Philippine Army criticized the Canadian government for issuing a travel advisory against all parts of Mindanao, which includes their area of responsibility. Major Mark Anthony Tito, spokesperson for the 10th ID, emphasized that the regions under their jurisdiction are peaceful and free from terrorism and violent threats, contrary to the Canadian embassy's advisory. The division oversees 12 provinces, seven cities, and 72 municipalities in various parts of Mindanao. Tito expressed bewilderment at the basis of the travel advisory, asserting that the Canadian government lacks awareness of the actual situation on the ground. He highlighted the peaceful nature of the entire Davao Region throughout 2023, with no recorded incidents of terrorism or insurgency. Despite the exclusion of Davao City from the advisory, Tito noted that the region would still be impacted. The Canadian embassy's advisory warned its citizens to avoid visiting Mindanao due to ongoing terrorism, civil unrest, kidnapping, high levels of violence, and encounters between rebel forces and government security authorities. Specific provinces and regions were singled out for caution or non-essential travel, including Northern Mindanao, Soccsksargen, and Eastern Mindanao. Contrary to the advisory, the 10th ID has been actively weakening and eliminating guerilla forces within its jurisdiction as part of the Philippine Army's efforts to establish an insurgency-free zone. In fact, on October 27, 2023, the Davao Region celebrated its first anniversary as an insurgency-free region in the Philippines. This dispute has led to other related stories, including the Chamber's intention to engage in discussions with the Canadian government regarding the travel advisory, as well as refutations from the Mindanao Development Authority (MinDA) and celebrations of the Davao Region's insurgency-free status by the Regional Peace and Order Council. In summary, the 10th ID vehemently opposes the Canadian government's travel advisory, citing the peaceful and secure nature of the regions under their jurisdiction, and highlighting the significant strides made in eradicating insurgency in the Davao Region......»»
Speaker to BIR: Economic growth rests on hitting targets
Speaker Martin Romualdez urged the Bureau of Internal Revenue to ensure that the tax agency hits its targets this year, emphasizing that “hitting revenue targets means the government can fund its spending program, which will enable growth.”.....»»
Economy likely grew by 6.2 percent in Q1
The Philippine economy is expected to have posted a 6.2-percent growth in the first quarter supported by gains in the labor market and manufacturing, as well as government spending, according to First Metro Investment Corp. (FMIC) and the University of Asia and the Pacific (UA&P)......»»
State firms spent better in February
State agencies recorded a better spending rate as of February as the government ramped up the release of its cash allocations to fund various projects......»»
Government posts P88 billion surplus
The Marcos administration snapped eight consecutive months of budget deficit after it recorded a surplus of P88 billion in January as revenue collections outpaced spending......»»
San Fransico drug bust: Ex-drug surrenderee, cohort nabbed with P816,000 shabu
CEBU CITY, Philippines – A drug peddler, who voluntarily surrendered earlier and completed the government’s reformation program, and his alleged cohort will be spending time in jail after they were arrested in a drug bust in San Francisco, Cebu Friday night. Jufer Belmoro, 40, and Jilou Montalban, 34, were nabbed with five packs of suspected.....»»
Agencies’ budget usage rate improves to 70 percent
State agencies recorded a better spending rate at the start of the year as the government ramped up the release of its cash allocations to fund various projects......»»
Taking finances personally
A country, or its government, can be criticized by economists for being too frugal and not spending all its budget to grow the economy, create jobs, and increase capital investment......»»
Germany spending billions to replace nuclear power
The EU's largest economy is set to make a large investment in four gas-fired plants, the government has announced Germany is set to spend 16 billion to construct four gas-fired power plants as it seeks to ensure an adequate supply of electricity after scrapping its nuclear reactors, the Economy Ministry announced earl.....»»
EU s largest economy spending billions to replace nuclear power
Germany is set to make a large investment in four gas-fired plants, the government has announced Germany is set to spend 16 billion to construct four gas-fired power plants as it seeks to ensure an adequate supply of electricity after scrapping its nuclear reactors, the Economy Ministry announced earlier this week.&nb.....»»
185 infrastructure projects to take off after PPP rules signing
An estimated P9.14 trillion worth of 185 flagship projects under the administration of President Marcos may soon commence, following the signing of the implementing rules and regulations of Republic Act 11966 or the Public-Private Partnership Code, lawmakers said......»»
PPP Code to spur more infrastructure projects
An estimated P9.14 trillion worth of 185 flagship projects under the Marcos administration may soon commence following the signing of the implementing rules and regulations of the Public-Private Partnership Code, according to lawmakers......»»
MVP, Ang may jointly bid for MRT-3
Another infrastructure tie-up between tycoons Manuel V. Pangilinan and Ramon Ang could be in the works as Metro Pacific Investments Corp. will engage San Miguel Corp. in bidding for the privatization of the Metro Rail Transit Line 3......»»
Government urged to hike, fast-track power investments
The government should increase its investments in the power generation infrastructure and accelerate energy-related projects to address the country’s thinning electricity supply, a think thank said......»»