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High power bills, fuel costs likely pushed up inflation to 4.8% in May — BSP

Rallying oil prices and power rates likely pushed up inflation in May, putting it beyond government target for fifth straight month, the Bangko Sentral ng Pilipinas reported Monday......»»

Category: newsSource: philstar philstarMay 31st, 2021

Expensive meat, higher power bills seen keeping inflation beyond target in April

Consumer price growth likely stayed beyond government expectations in April driven by more expensive meat products, particularly pork, and higher power costs......»»

Category: newsSource:  philstarRelated NewsApr 30th, 2021

Bangko Sentral sees January inflation hitting as high as 3.7%

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Friday inflation in January likely accelerated to as high as 3.7 percent from 3.5 percent in December on higher prices of fuel and power......»»

Category: financeSource:  thestandardRelated NewsJan 29th, 2021

Higher food, fuel prices likely drove up inflation in July

Higher fuel and food prices, compounded by a surge in power rates and a weak currency, likely stoked inflation in July, the Bangko Sentral ng Pilipinas said......»»

Category: financeSource:  philstarRelated News41 min. ago

Inflation has potential to climb 4.7% in June — BSP

Higher power costs and a slightly weaker currency likely stoked faster consumer price growth in June, although the spike was likely cushioned by more affordable food items......»»

Category: financeSource:  philstarRelated NewsJun 30th, 2021

Government urged: Buy high from pork producers

An economist-lawmaker yesterday pushed for urgent measures to lower the country’s 4.5-percent inflation rate amid the COVID-19 pandemic......»»

Category: newsSource:  philstarRelated NewsMay 6th, 2021

Pro-consumer measures

Lower power costs in Metro Manila significantly contributed to the easing of inflation in the National Capital Region......»»

Category: financeSource:  philstarRelated NewsApr 17th, 2021

Indian businesses urge Philippines to address concerns

Indian businesses want the Philippines to address delays in the approval of licenses for pharmaceutical products and tax refunds for manufacturing firms, as well as the high power and logistics costs, to allow the country to attract more foreign investors......»»

Category: financeSource:  philstarRelated NewsMar 1st, 2021

Inflation climbed to a two-year high of 4.2% in January& mdash;PSA

Inflation in January accelerated to a two-year high of 4.2 percent from 3.5 percent in December 2020 due to the uptick in food prices and transport costs, data from the Philippine Statistics Authority showed Friday......»»

Category: financeSource:  thestandardRelated NewsFeb 5th, 2021

Inflation blows past expectations to 2-year high in January

Prices of basic goods and services rose by their fastest level in 2 years in January, overshooting government expectations as the surge in food costs remained unabated. .....»»

Category: financeSource:  philstarRelated NewsFeb 5th, 2021

PH Inflation Rate at 3.7% in January

Bangko Sentral ng Pilipinas (BSP) expects a 3.7% inflation rate in the month of January 2021. 3.7% however, is the inflation rate’s midpoint but it could stay between 3.3-4.1% depending in the situation. BSP Governor Benjamin Diokno revealed that power rate, price increase in meat, fuel and other basic necessities and even excise tax on […].....»»

Category: newsSource:  metrocebuRelated NewsJan 30th, 2021

Cultivating corruption

Among the biggest turn off for potential investors is high power rates, which should have not been a curse to the country if not for onerous contracts with power generators signed during previous regimes. Considering that more than half of the country’s energy mix are obtained from cheap coal and indigenous fuel like natural gas, […] The post Cultivating corruption appeared first on Daily Tribune......»»

Category: newsSource:  tribuneRelated NewsDec 2nd, 2020

Gov’t pushes digitalized, mechanized farm sector

The Department of Finance (DOF) said the government is rapidly digitalizing the country’s agricultural systems and mechanizing farm production to ensure food security over the long run. During the virtual 2020 Annual Meetings of the International Monetary Fund and the World Bank Group, Finance Secretary Carlos G. Dominguez III said the government wants to turn the coronavirus-induced health emergency into an opportunity. Finance Secretary Carlos G. Dominguez III (MANILA BULLETIN FILE PHOTO) To do so, Dominguez said efforts to implement the twin measures are being done to expand Filipinos’ market access for food producers while keeping food supply available and prices affordable. “We are confident that the innovative measures we are putting in place today will transform Philippine agriculture into a dynamic, high-growth sector that will fuel our country’s strong recovery,” Dominguez said during the high-level Food Security Roundtable at the meeting. Dominguez said the government is also promoting digital marketing to support ongoing efforts to boost consumer spending in the new normal and sustaining public investments in rural infrastructure. He added that the government is accelerating the move towards agricultural technology-based farming and value chain development to ensure long-term food security.  To channel more funds into the agriculture sector, the government is also encouraging more private-sector financing in the sector by proposing reforms in the Congress that will provide more access to credit for the entire agricultural value chain, Dominguez said.   “We all aspire for greater food and nutrition security for our people. Only an efficient and modern agriculture sector can fully deliver that,” Dominguez, who was Agriculture secretary during the administration of the late President Corazon Aquino, said. Amid pandemic, Dominguez III said the Philippines has been handling the COVID-19 crisis “with strength on the food security front” duets reforms, particularly with the passage of the Rice Tariffication Law (RTL). According to Dominguez, the agriculture sector was “one of the brightest spots” of the Philippines’s response to the pandemic owing in large part to the RTL. He pointed out that agriculture sector even continued to grow when the rest of the economy contracted because of the COVID-19 pandemic.  Dominguez said rice tariffication was among the main reasons why the government has succeeded in keeping food prices and supply stable, and inflation low during the COVID-19 emergency.  Keeping rice prices stable has been helpful for low-income households that spend a fifth of their budgets on rice alone, he added.   “The Philippines faced the COVID-19 pandemic with strength on the food security front,” Dominguez said.  He pointed out that despite logistical restrictions resulting from the lockdowns imposed to protect people and communities from the lethal coronavirus, the government was able to sustain the flow of produce from local farms to Filipino consumers.   “A food crisis did not happen. This is credited to the effective management of the food supply by our Agriculture Department,” Dominguez said......»»

Category: newsSource:  mb.com.phRelated NewsNov 8th, 2020

Internet speed in the time of COVID-19 is everything

Time flies by so fast, and yet, the COVID-19 pandemic has brought our lives to a screeching halt. Nearly seven months into the quarantined life, we have experienced a day that already feels like a week, a week that feels like a month, and with quarantine guidelines restricting us from being with our loved ones, the only way for us to really connect is through the internet. The question now is, how connected are we to be virtually together? In these trying times with everyone cooped up at home, Internet speed has become indispensable. Apart from speed, having a backup is a necessity, what with every family member hogging the bandwidth for Google Hangouts and/or Zoom calls used for either school or work. This is where PLDT Home comes in, thanks to their newly-launched device: the PLDT Home Wifi Prepaid Advance modem. Internet speed is king — even for a backup modem I got to experience firsthand the newest device that PLDT Home recently launched. Having had my fair share of experience with the PLDT Home Wifi Prepaid, the newly improved Advance modem is a definite game-changer. How was it? It was not bad — at all. The LTE-Advance experience The PLDT Home Wifi Prepaid Advance modem is a plug-and-play device, so installing it is very easy. To put it to the test, I used the device for an entire day, not just as backup, but as my main source of Internet connection. I put it near the window, which is always the advice given for modems to get better Internet connection. The PLDT Home Wifi Prepaid Advance modem features carrier aggregation that is a combination of frequency channels to power LTE to deliver at faster speeds. This enabled me to connect three devices all at once, without having to sacrifice the quality of my Wifi connectivity. The PLDT Home Wifi Prepaid Advance is powered by Smart LTE, the fastest mobile network in the Philippines as certified by Ookla. There are also two LAN ports found at the back that allow users to have wired connection for two devices. This is perfect for families with parents working from home and children taking online classes. The verdict Absolutely no jokes were meant when I mentioned above that the PLDT Home Wifi Prepaid Advance modem is a game-changer. This is the device that families need at home to better equip them while working from and/or studying at home while also being practical with their internet spending. Because it’s prepaid, families need not worry about adding up to their monthly bills and they can easily load the device when they need it. The modem is a powerful device because of the reliable and stronger Internet connection it can provide to the entire family. PLDT Home really did step up their game with this device, and I repeat — it’s a necessity in households today. Be it for virtual conference calls for work, online classes, or catch up sessions with your loved ones, the PLDT Home Wifi Prepaid modem is a device anyone can depend on. Prepaid packages for the family To match the much improved PLDT Home Wifi Prepaid Advance modem, PLDT Home provided new and affordable FamLoad packages that cater to the Internet needs of families at home. For students, the FamLoad Study 599 comes with 57 GB with 3 GB/day for learning tools like Canvas, Schoology, Gabay Guro, Microsoft 365, and NEO. Those who are film and TV series geeks will also enjoy using the PLDT Home Wifi Prepaid Advance modem, with its FamLoad Video 599 equipped with 40 GB for open access data and 15 GB of YouTube, or the FamLoad Video Plus 599 with 45 GB for all sites and apps or 3 GB of videos daily for 15 days. The new PLDT Home Wifi Prepaid Advance modem is now available via the PLDT Home website and can be delivered fast via Grab delivery. The unit also comes with free 10GB data that’s ready for use and it’s convenient to reload through GrabApp using the GrabPay wallet, Paymaya, myPLDT Smart app, or PLDT Home and Smart’s retailers nationwide. In these trying times, the need to stay online as we opt to do things virtually is at an all-time high, and PLDT Home may just have provided the very device that is now a truly relevant and essential part of the modern new normal home......»»

Category: newsSource:  mb.com.phRelated NewsOct 9th, 2020

BSP says August inflation likely rose to as high as 3.3%

The Bangko Sentral ng Pilipinas said inflation in August likely picked up to as high as 3.3 percent from 2.7 percent in July on the back of higher fuel prices......»»

Category: financeSource:  thestandardRelated NewsAug 28th, 2020

James, Davis power Lakers past Trail Blazers for 2-1 lead

By BRIAN MAHONEY AP Basketball Writer LAKE BUENA VISTA, Fla. (AP) — LeBron James had 38 points, 12 rebounds and eight assists, Anthony Davis scored 12 of his 29 points in the fourth quarter, and the Los Angeles Lakers beat the Portland Trail Blazers 116-108 on Saturday night (Sunday morning in the Philippines) for a 2-1 lead in the Western Conference first-round series. The Lakers shut down the high-scoring Blazers for the second straight game after the No. 1 seed was knocked off in Game 1. This was Portland's highest-scoring performance in the series and it wasn't close to good enough. Damian Lillard scored 34 points despite a dislocated left index finger and CJ McCollum added 28 for the Trail Blazers. They will try to even the series in Game 4 on Monday. Portland was down only three with about 9 1/2 minutes left. But Davis then re-entered and started scoring from everywhere, turning lob passes into dunks or stepping outside for jumpers. The Lakers' defense handled the rest, limiting the Blazers to just three field goals over more than seven minutes as they pushed the lead to 109-98 with a little more than 2 minutes to go. Carmelo Anthony added 20 points in his first good game of the series. He was 4 for 17 in the first two games and he started Game 3 with seven straight misses before making his eighth — by tipping in his own miss. The Blazers made a lineup change, inserting Hassan Whiteside to play alongside Jusuf Nurkic in a big starting five. The unit got Portland off to a good start and the Blazers nursed the early lead all the way through the second quarter without ever really stopping James, who was 5 for 6 for 15 points in eight minutes in the period. But McCollum capped his 13-point period with a 3-pointer from the corner at the buzzer, making it 57-53. James and Kentavious Caldwell-Pope combined for 12 straight points to send the Lakers from six down to a 70-64 lead. The Blazers came right back behind Anthony, who made three straight jumpers before a dunk on the break tied it at 72. The Lakers surged back ahead with a 10-0 burst that made it 89-78 and they led by seven entering the fourth. TIP-INS Lakers: Caldwell-Pope had 13 points. ... Davis missed four of his five free throw attempts in the opening minutes and finished 7 for 14. Trail Blazers: Nurkic scored 10 points. ... The Blazers were outrebounded 55-38. MISSING COLLINS Portland coach Terry Stotts said Zach Collins (left ankle stress reaction) was still in the bubble but didn't know for how long. The forward separated his left shoulder in October but returned to play in the seeding and play-in games before having to be shut down because of the ankle. “As much as we miss him, I just feel bad for him because he had put so much work into being ready for this,” Stotts said. “And because of the hiatus it gave him the opportunity to play this season, which we weren’t sure he was going to be able to have if there was no hiatus. So it looked like things were lining up well for him so it’s really disappointing for him.”.....»»

Category: sportsSource:  abscbnRelated NewsAug 23rd, 2020

Inflation spikes to 6-month high of 2.7% in July

Consumer prices grew at a faster pace in July, triggered mainly by higher transportation costs, the Philippine Statistics Authority (PSA) reported yesterday......»»

Category: financeSource:  philstarRelated NewsAug 6th, 2020

Inflation spikes to 6-month high of 27% in July

Consumer prices grew at a faster pace in July, triggered mainly by higher transportation costs, the Philippine Statistics Authority (PSA) reported yesterday......»»

Category: newsSource:  philstarRelated NewsAug 5th, 2020

Angels recover after giving up late lead, beat Astros in 10

By The Associated Press ANAHEIM, Calif. (AP) — Matt Thaiss scored on Michael Hermosillo’s bases-loaded sacrifice fly in the 10th inning, and the Los Angeles Angels snapped their three-game skid with a 5-4 victory over the Houston Astros on Saturday night. Jason Castro delivered a tying RBI double in the ninth for the Angels, who improved the majors’ worst record to 3-6 despite blowing a two-run lead in the ninth. David Fletcher hit a leadoff single in the 10th off Nivaldo Rodriguez (0-1), sending Thaiss to third. After the Astros walked Anthony Rendon to load the bases, Thaiss scored on Josh Reddick’s inaccurate throw from medium right field. Angels reliever Noé Ramirez got two outs in the 10th, and Ryan Buchter (2-0) struck out Abraham Toro with the bases loaded in a rare bright moment for the Halos’ struggling relievers. YANKEES 5, RED SOX 2 NEW YORK (AP) — Gio Urshela hit his first big league grand slam, Aaron Judge homered for a career-high fourth straight game and New York won its fifth straight. Nick Nelson (1-0) pitched three hitless innings to win his major league debut. At 6-1, the Yankees are off to their best start since 2003. Yankees starter Masahiro Tanaka made his season debut after recovering from a concussion sustained when he was hit in the head by Giancarlo Stanton’s line drive during practice on July 4. Tanaka lasted just 2 2/3 innings and 51 pitches, tiring in his second time through the order. David Hale finished the six-hitter for his third career save, his first this year. Judge homered in the first inning off Zack Godley (0-1), a 455-foot drive to left-center. Urshela hit his second homer of the season an inning later for a 5-0 lead. TWINS 3, INDIANS 0 MINNEAPOLIS (AP) — Miguel Sanó homered twice and Kenta Maeda pitched six scoreless innings in his home debut for Minnesota. Eddie Rosario added a solo homer for the Twins, who got another strong start from a veteran newcomer to its starting rotation. Maeda (2-0) retired 13 of the first 14 batters he faced and didn’t allow a hit until Bradley Zimmer beat out a weak ground ball to second base in the fifth inning. Carlos Carrasco (1-1) gave up six hits in six innings for Cleveland and was done in by three solo home runs from the Twins. Maeda, acquired in an offseason trade from the Dodgers, was one of three key additions to strengthen Minnesota’s rotation along with Rich Hill and Homer Bailey. BRAVES 7, METS 1 ATLANTA (AP) — Ronald Acuña Jr. shook off a slow start by driving in two runs with two hits, including his first homer, and Atlanta won its fourth straight. The Mets have lost four straight, including the first two games of the four-game series between the NL East rivals. Marcell Ozuna hit a two-run homer, his third, off Michael Wacha (1-1) in the first inning. Acuña led off the game with his 18th strikeout, the most in the majors, before emerging from his funk. He doubled in a run in the second for his first RBI as the Braves stretched the lead to 5-0. Acuña lined his first homer into the left-field seats in the sixth off right-hander Franklyn Kilome. Josh Tomlin (1-0) pitched 2 1/3 perfect innings with three strikeouts for the win. WHITE SOX 11, ROYALS 5 KANSAS CITY, Mo. (AP) — Gio Gonzalez made his first start for the hot-hitting Chicago White Sox more than 16 years after they drafted him, and the veteran responded by holding the Kansas City Royals scoreless into the fourth inning. Eloy Jimenez hit a three-run homer and finished with a career-high four hits, and rookie Luis Robert had four hits while finishing a triple shy of the cycle, leading a White Sox barrage of 21 hits in all. Leury Garcia also pounded out four hits, Yoan Moncada added three and Yasmani Grandal had a pair of hits while driving in two runs. That was plenty of support for Gonzalez, who scattered five hits and three walks while striking out six in 3 2/3 innings. Matt Foster (1-0), one of six White Sox relievers, got the win. Much of Chicago’s damage came off spot starter Ronald Bolanos (0-2), who allowed five runs in 1 2/3 innings. Whit Merrifield hit a two-run homer for the Royals. Ryan O’Hearn drove in their other two runs. ROCKIES 6, PADRES 1 DENVER (AP) — Kyle Freeland pitched six innings of two-hit ball and was backed by the superb defense of Trevor Story and Nolan Arenado as Colorado beat San Diego. Freeland (2-0) allowed a two-out single to Tommy Pham in the first and then retired 13 in a row before Francisco Mejia’s double in the sixth. The left-hander struck out four and walked one in throwing an economical 83 pitches. Story contributed at the plate as well with a solo shot in the fourth. It was his second straight game with a homer. Matt Kemp hit a solo homer in the third for the Rockies. Padres lefty Joey Lucchesi (0-1) had a forgettable outing in going 1 2/3 innings and giving up three runs. Trent Grisham homered to center in the eighth off Rockies reliever Yency Almonte. DODGERS 11, DIAMONDBACKS 2 PHOENIX (AP) — Chris Taylor hit a three-run homer, A.J. Pollock and Edwin Ríos added two-run shots and Los Angeles rolled past Arizona. The bottom of the Dodgers' order showed big power in the fourth inning when Ríos — who was hitting seventh — smashed a two-run homer over the 413-foot sign in center field. Two batters later, Matt Beaty ripped another homer that barely stayed fair down the right-field line. D-backs starter Luke Weaver (0-2) took the loss after giving up six runs in four-plus innings. The Dodgers broke the game open with a five-run fifth when the first six batters reached base on Weaver and reliever Yoan López. Justin Turner hit a two-run triple and Pollock added a two-run homer as Los Angeles pushed its lead to 8-2. Taylor’s three-run homer in the eighth made it 11-2. Dodgers starter Julio Urías (1-0) gave up two runs over six innings while striking out five......»»

Category: sportsSource:  abscbnRelated NewsAug 2nd, 2020

June inflation rate reached 3-month high of 2.5%& mdash;PSA

Inflation rate in June 2020 picked up to a three-month high of 2.5 percent from 2.1 percent in May, led by increases in transport, alcoholic beverage, tobacco and fuel prices, the Philippine Statistics Authority said Tuesday......»»

Category: financeSource:  thestandardRelated NewsJul 8th, 2020

DID YOU KNOW? Marck Espejo almost played for La Salle

Marck Espejo’s arrival to Ateneo de Manila University brought miracles for the Blue Eagles. Former head coach Oliver Almadro even anointed Espejo as ‘God’s gift’ to the Ateneo men’s volleyball program, which for years struggled to keep up with other powerhouse teams in the UAAP. He brought the Blue Eagles to the Finals in his first year. Although the squad fell short against National University, Espejo’s performance made Ateneo an emerging power. With the prized Marikina recruit at the helm, Ateneo captured its breakthrough title in Season 77, which the Blue Eagles kept for two more years. Espejo’s name is synonymous to that of Ateneo's grand slam. But did you know that Espejo almost chose the color green of the Katipunan-based squad’s archrival De La Salle University? Yes, we all know that Almadro discovered a jewel in the then second-year high school Espejo when the mentor was still a part of the Bulldogs coaching staff. However, fate planned a different course for both Espejo and Almadro. Almadro parted ways with NU and Espejo went through a rough time in his last year in high school. Different universities approached the promising Espejo the following year since meeting Almadro during his third year Palarong Pambansa stint. But in his fourth year he suffered a left arm injury while playing in an inter-barangay basketball tournament, barring Espejo from joining his last Palarong Pambansa. His absence in the national meet pushed him out of the radar of scouts.     “Before Palaro ayun nga nabalian ako so wala pong coaches na nakakakilala po sa akin kundi si Coach O lang po talaga,” said Espejo in an interview on 2OT podcast last Saturday. Espejo was already looking to commit to another school that time.    “Balak ko po sana pumasok sa La Salle,” Espejo shared. But Almadro knew that to turn Ateneo into a contender he needed to get Espejo.   “Pero last minute parang pinahanap ako ni Coach O sa players niya, kay JP Pareja para mag-Ateneo ako,” said Espejo. He immediately grabbed the opportunity when he was offered to play for the Blue Eagles. “Siyempre ‘yung Ateneo po kasi dream school ko po talaga ‘yun so wala po talagang second thought, pumasok na po talaga ako,” said Espejo. “Saka ‘yung volleyball po ginamit ko po talaga para makapasok sa magandang university pero yun nga po, since nakapasok na po ako sa Ateneo parang inisip ko na lang po yung long-term na education po talaga.” Under Almadro’s guidance, Espejo turned into one of the most powerful and efficient hitters in the UAAP. He further evolved into an all-around player and the face of Philippine men's volleyball. Espejo led Ateneo to a three-peat while winning Rookie of the Year in Season 77 and bagging the Most Valuable Player award five times.   --- Follow this writer on Twitter, @fromtheriles  .....»»

Category: sportsSource:  abscbnRelated NewsJul 6th, 2020