LPA off Central Luzon to bring rain this weekend
A low-pressure area east of Central Luzon is expected to enhance the southwest monsoon and bring rains over parts of the country this weekend, the state weather bureau said yesterday......»»
Ecija onion farmers get storage facilities
The Department of Agriculture has turned over two onion cold storage facilities to the DA-Central Luzon office in Nueva Ecija......»»
PhilSys ID registration now open for kids under 4 years old
CEBU CITY, Philippines — Children up to four years old can now sign up for their Philippine Identification System (PhilSys) ID, according to an official from the Philippine Statistics Authority in Central Visayas (PSA-7). Edwina Carriaga, the chief administrative officer of PSA-7, told CDN Digital that parents don’t need to bring their children to the registration.....»»
Amihan to bring light rain on Valentine’s Day — Pagasa
MANILA, Philippines — The northeast monsoon or amihan may bring some light rainfall over parts of Northern and Central Luzon, including Metro Manila, today, February 14. This meant that most Filipinos can expect clear skies and pleasant weather for Valentine’s Day this year. In a morning report, state weather specialist Obet Badrina predict generally fair.....»»
WHO axes medical aid delivery to north Gaza in absence of security guarantees
It is the fourth time the World Health Organization has to call off a planned mission to bring urgently needed medical supplies to Al-Awda Hospital and the central drug store in northern Gaza since December 26.....»»
Razon’s Primelectric aims to turn around Negros power service
Primelectric Holdings Inc., a subsidiary of Enrique Razon-led MORE Power, is looking to bring reliable and uninterrupted electric service to Negros through its joint venture with Central Negros Electric Cooperative once its franchise is granted......»»
Economists: 25-bps rate hike likely if inflation rises anew
Economists believe the Bangko Sentral ng Pilipinas might further raise its policy rate by 25 basis points to 6.75 percent next month if food supply issues and high global oil prices persist. Dan Roces, chief economist of Security Bank, said the BSP might make this decision at its meeting on 16 November to help temper inflation faster. “The higher policy interest rate is driven by mounting local inflation risks, attributed to supply chain disruptions and increasing global commodity prices, including the threat of crude price spikes brought about by tensions in the Middle East,” he told the Daily Tribune in a Viber message. Last Thursday, the central bank hiked its rate by 25 bps to 6.25 percent on an off-cycle period to arrest further inflation uptrend due to the aforementioned factors. Risks might linger Jun Neri, chief economist of Bank of the Philippine Islands, said these inflationary risks might linger until the government finds solutions to increase supply of rice, the main driver of re-accelerated inflation at 6.1 percent last month. While Neri said managing food supply is not the BSP’s responsibility, he agreed with the central bank that rate hikes can help slow inflation by restraining consumer spending. “The rate hike is a statement from the BSP that it is determined to bring inflation back to its target. Inflation expectations may shoot up further if the market doesn’t see any action from the BSP,” the economist said. Exacerbated by Israel-Hamas war “The risk of El Niño, as well as higher global crude oil prices recently among 11-month highs led to higher local fuel pump prices especially since July 2023. This could be exacerbated by the Israel-Hamas war that is still uncertain” Michael Ricafort, chief economist of Rizal Commercial Banking Corp., added. The post Economists: 25-bps rate hike likely if inflation rises anew appeared first on Daily Tribune......»»
Bong Go reminds public to observe proper hygiene amid typhoid surge
Senator Christopher “Bong” Go has urged Filipinos to be more vigilant and prioritize their health by observing proper hygiene in the wake of an alarming increase in typhoid cases across the country. According to the Department of Health (DOH), at least 17,531 cases of typhoid have been recorded this year. Go, chairperson of the Senate Committee on Health and Demography, expressed his concern for the growing number of typhoid cases and called upon the Filipino people to take immediate action to protect their health and that of their loved ones. “Hinihikayat ko ang lahat na maging mapanuri sa ating kalusugan. Huwag tayong mag-atubiling magpatingin sa mga doktor kung may mga sintomas tulad ng lagnat o pagsusuka,” Go underscored. “Mahalaga ring magtulungan tayo para maiwasan ang pagkalat ng mga sakit na ito. Huwag nating kalimutan ang tamang kalinisan at sanitation sa ating mga tahanan. Siguruhing laging malinis ang ating mga paligid at inumin ang ligtas na tubig,” he added. Typhoid fever is a highly contagious bacterial infection that primarily spreads through contaminated food and water. Its symptoms, which include high fever, abdominal pain, and severe weakness, can be severe and even life-threatening if left untreated. Therefore, the recent increase in cases is a cause for significant concern, stressed Go. According to the most recent disease surveillance report from DOH, there has been a 38 percent increase in reported cases of the disease from 1 January to 30 September compared to the same period last year, with 12,693 cases. The Cordillera Administrative Region (CAR) reported the highest number of cases at 2,861 followed by Northern Mindanao with 1,932 cases, and Mimaropa Region (Mindoro Occidental, Mindoro Oriental, Marinduque, Romblon, and Palawan) with 1,413 cases. Cases in SOCCSKSARGEN (South Cotabato, Cotabato City, North Cotabato, Sultan Kudarat, Sarangani, and General Santos City) increased by 119 percent from 512 cases to 1,123. Central Luzon saw the most significant increase in cases, with a 192 percent increase from 334 cases last year to 975 cases this year. "Typhoid fever is a preventable disease, and it is disheartening to see the numbers continue to rise," Go said, adding "We cannot afford to be complacent when it comes to our health. It is our responsibility to stay informed and practice proper hygiene to prevent the spread of this disease." Go also urged the government and health agencies to intensify their efforts in raising awareness about typhoid prevention, enhancing healthcare services, and implementing strict measures to ensure food and water safety. Go then highlighted the importance of Malasakit Centers and Super Health Centers as crucial components of the country's healthcare system, saying, “As the nation battles the increasing number of typhoid cases, it is essential for Filipinos to be aware of the facilities designed to provide quick and efficient medical services and assistance.” The Malasakit Centers program, a brainchild of Go, serves as a one-stop shop for medical assistance programs. These centers bring together key government agencies to streamline the process of availing medical aid. “Ang Malasakit Center po ay one-stop shop, nasa loob na ho ng hospital ‘yung apat na ahensya ng gobyerno – ‘yung DOH, DSWD, PhilHealth, at PCSO. Tutulungan po kayo sa inyong billing,” said Go. The program was institutionalized through Republic Act No. 11463, which was principally sponsored and authored by Go. To date, there are 159 operational centers that have successfully helped more than seven million Filipinos nationwide. “Sa ating pag-iikot sa buong bansa kapag naghahatid tayo ng serbisyo sa mga komunidad, lagi nating ipinapaalala sa ating mga kababayan—lalo na ang mga mahihirap—na unahin ang kanilang kalusugan. Huwag dapat silang matakot magpagamot dahil kung kailangan nila ng tulong pang-medikal ay nandiyan ang Malasakit Center sa kanilang lugar na handang tumulong sa kanila. Para sa taumbayan iyan. Kahit sino ay maaaring lumapit dito. Basta Pilipino ka, qualified ka sa Malasakit Center,” Go explained. Moreover, the Super Health Centers offer a wide array of medical services, including consultations, and diagnostic tests, among others, ensuring that more Filipinos receive proper medical care close to their homes. “Malaking tulong po ito na ma-decongest ‘yung mga hospitals. Makakatulong rin sa early disease detection para maagapan ang sakit. Pwede na sa Super Health Centers ang primary care at pagkonsulta sa doktor,” he added. Super Health Centers offer database management, out-patient, birthing, isolation, diagnostic (laboratory: x-ray, 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. Through the collective efforts of fellow lawmakers and local government units, sufficient funds have been allocated under the DOH for 307 Super Health Centers in 2022 and 322 in 2023. "In times like these, we must come together as a nation. Let us be vigilant, look out for one another, and ensure that proper hygiene practices are consistently followed. By working together, we can combat this outbreak and protect the health and well-being of our fellow Filipinos,“ stressed Go. The post Bong Go reminds public to observe proper hygiene amid typhoid surge appeared first on Daily Tribune......»»
‘Shear line’ to bring rains to some parts of Luzon — PAGASA
The Philippine Atmospheric, Geophysical and Astronomical Services Administration said that Metro Manila, CALABARZON, Central Luzon, and the Bicol Region may experience cloudy skies with scattered rain showers and thunderstorms this week......»»
First relief convoy enters Gaza devastated by ‘nightmare’ war
The first aid trucks arrived in war-torn Gaza from Egypt on Saturday, bringing urgent humanitarian relief to the Hamas-controlled Palestinian enclave suffering what the UN chief labelled a "godawful nightmare". Israel has vowed to destroy Hamas after the Islamist militant group carried out the deadliest attack in the country's history on October 7. Hamas militants killed at least 1,400 people, mostly civilians who were shot, mutilated or burnt to death, and took more than 200 hostages, according to Israeli officials. Israel has retaliated with a relentless bombing campaign on Gaza that has killed more than 4,300 Palestinians, mainly civilians, according to the Hamas-run health ministry. An Israeli siege has cut food, water, electricity and fuel supplies to the densely populated and long-blockaded territory of 2.4 million people, sparking fears of a humanitarian catastrophe. AFP journalists on Saturday saw 20 trucks from the Egyptian Red Crescent, which is responsible for delivering aid from various UN agencies, pass through the Rafah border crossing from Egypt into Gaza. The crossing -- the only one into Gaza not controlled by Israel -- closed again after the trucks passed. The lorries had been waiting for days on the Egyptian side after Israel agreed to a request from its main ally the United States to allow aid to enter. UN chief Antonio Guterres warned Friday that the relief supplies were "the difference between life and death" for many Gazans, more than one million of whom have been displaced. "Much more" aid needs to be sent, he told a peace summit in Egypt on Saturday. US Secretary of State Antony Blinken welcomed the aid and urged "all parties" to keep the Rafah crossing open. But a Hamas spokesman said "even dozens" of such convoys could not meet Gaza's needs, especially as no fuel was being allowed in to help distribute the supplies to those in need. 'Reeling in pain' Tens of thousands of Israeli troops have deployed to the Gaza border ahead of an expected ground offensive that officials have pledged will begin "soon". As international tensions soar, Egyptian President Abdel Fattah al-Sisi was hosting a peace summit in Cairo on Saturday attended by regional and some Western leaders. "The time has come for action to end this godawful nightmare," Guterres told the summit, calling for a "humanitarian ceasefire". The region "is reeling in pain and one step from the precipice", he said. Guterres said "the grievances of the Palestinian people are legitimate and long" after "56 years of occupation with no end in sight". But he stressed that "nothing can justify the reprehensible assault by Hamas that terrorised Israeli civilians". "Those abhorrent attacks can never justify the collective punishment of the Palestinian people," he added. Egypt, historically a key mediator between Hamas and Israel, has urged "restraint" and the relaunch of the long-frozen peace process. But diplomatic efforts to end the violence have made little headway, without the participation of Israel and its enemy Iran, a supporter of Hamas and other armed groups. 'Sliver of hope' A full-blown Israeli ground offensive carries many risks, including to the hostages Hamas took and whose fate is shrouded in uncertainty. So the release of two Americans among the hostages -- mother and daughter Judith and Natalie Raanan -- offered a rare "sliver of hope", said Mirjana Spoljaric, president of the International Committee of the Red Cross. US President Joe Biden thanked Qatar, which hosts Hamas's political bureau, for its mediation in securing the release. He said he was working "around the clock" to win the return of other Americans being held. Natalie Raanan's half-brother Ben told the BBC he felt an "overwhelming sense of joy" at the release after "the most horrible of ordeals". Hamas said Egypt and Qatar had negotiated the release and that it was "working with all mediators to implement the movement's decision to close the civilian (hostage) file if appropriate security conditions allow". Traumatised families with loved ones missing in Gaza demanded more action. "We ask humanity to interfere and bring back all those young boys, young girls, mothers, babies," Assaf Shem Tov, whose nephew was abducted from a music festival where Hamas killed hundreds, said Friday. Devastation Almost half of Gaza's residents have been displaced, and at least 30 percent of all housing in the territory has been destroyed or damaged, the United Nations says. Thousands have taken refuge in a camp set up in the city of Khan Yunis in southern Gaza. Fadwa al-Najjar said she and her seven children walked for 10 hours to reach the camp, at some points breaking into a run as missiles struck around them. "We saw bodies and limbs torn off and we just started praying, thinking we were going to die," she told AFP. In Al-Zahra in central Gaza, Rami Abu Wazna was struggling to take in the destruction wreaked by Israeli missile strikes. "Even in my worst nightmares, I never thought this could be possible," he said. Israel's operation will take not "a day, nor a week, nor a month" and will result in "the end of Israel's responsibilities in the Gaza Strip", Defence Minister Yoav Gallant warned on Friday. Regional tensions flare In Gaza, retired general Omar Ashour said the destruction was "part of a clear plan for people to have no place left to live". "This will cause a second Nakba," he added, referring to the 760,000 Palestinians who were expelled from or fled their homes when Israel was created in 1948. The United States has moved two aircraft carriers into the eastern Mediterranean to deter Iran or Lebanon's Hezbollah, both Hamas allies, amid fears of a wider conflagration. Fire across Israel's border with Lebanon continued overnight, with one Israeli soldier killed, Israeli public radio said. The military said it hit Hezbollah targets after rocket and missile fire. Violence has also flared in the West Bank, where 84 Palestinians have been killed since October 7, according to the Palestinian health ministry. The post First relief convoy enters Gaza devastated by ‘nightmare’ war appeared first on Daily Tribune......»»
2 American hostages freed
Gaza’s Hamas rulers freed two Americans among the 200 hostages they kidnapped in the deadly 7 October attacks in Israel. More hostages may be released, the group hinted. According to the Israeli government, Judith Tai Raanan and her daughter, Natalie Shoshana Raanan, were returned to Israel late Friday. There was no word on their condition, but US President Joe Biden was “overjoyed” by the news. Biden called the two women after they were released. Hamas also announced it was working with Qatar and Egypt to free its “civilian” hostages, implying that more could be released. An Israeli emissary met the couple at the Gaza border and took them to a military base in central Israel “where their families are waiting to meet them.” The Ranaan family, like many of the captives, had begun a worldwide campaign to pressure Hamas to release them. Hamas said the “al-Qassam Brigades released two American citizens for humanitarian reasons” after being approached by Qatar and Egypt. The Islamist rulers of Gaza said they were “working with all mediators to implement the movement’s decision to close the civilian (hostage) file if appropriate security conditions permit.” It provided no specifics about its demands. Israel claims that Hamas militants took 203 people during the bloodiest attacks in Israel’s 75-year history, including Israelis, dual nationals and foreigners. According to the authorities, at least 1,400 individuals were killed, mostly civilians. Relentless bombing Israel has retaliated with a continuous bombing campaign against Gaza, killing at least 4,137 people, mostly civilians. The hostages have become a massive problem in Israel, with Prime Minister Benjamin Netanyahu’s office stating that the government will use “any means available to locate all those missing and bring all those kidnapped home.” The International Committee of the Red Cross said it helped transport the freed Americans to Israel. US Secretary of State Antony Blinken called for more releases “immediately and unconditionally.” “Every single one of them should be released,” said Blinken, adding that a team from the US Embassy would visit the two freed women. Qatar is a major aid donor to Gaza, and two Hamas leaders are based in the Gulf state. A Qatari foreign ministry spokesperson said the country had mediated between Hamas and the United States and that the release followed “many days of continuous communication between all the parties involved.” The Israeli military said earlier Friday that most of those abducted to Gaza were still alive even though some dead bodies have been found on incursions into Gaza. The military said more than 20 hostages were minors, while between 10 and 20 were over the age of 60. Saudi factor Biden said Friday he believed Hamas’ brutal attack on Israel two weeks ago aimed to disrupt the warming ties between the country and Saudi Arabia. “One of the reasons they acted like they did... why Hamas moved on Israel... (was) because they knew I was about to sit down with the Saudis,” Biden told guests at a campaign fundraiser. “The Saudis want to recognize Israel... unite the Middle East,” he said. The momentum toward a landmark US-brokered deal to normalize relations between Israel and Saudi Arabia — the guardian of Islam’s two holiest sites — was shattered by the 7 October attack by Hamas militants on Israel. A bombing campaign launched in response by Israel has leveled entire city blocks in Gaza, so far killing 4,137 Palestinians, mostly civilians, according to the Hamas-run health ministry. Saudi officials announced on 14 October during a visit to Riyadh by US Secretary Blinken that the country had suspended talks with Israel on the normalization of relations. Saudi Arabia’s de facto ruler, Crown Prince Mohammed bin Salman, had spoken of progress with Israel but also insisted on movement on the Palestinian cause. The Gulf kingdom has never recognized Israel and did not join the 2020 Abraham Accords, brokered by the United States, which led neighboring Bahrain and the United Arab Emirates, as well as Morocco, to establish diplomatic ties with Israel. With AFP The post 2 American hostages freed appeared first on Daily Tribune......»»
Oil prices jump as Hamas attack on Israel fuels supply fears
Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East. The crisis fanned concerns about supplies of crude from the region at a time when supply worries are already high owing to Saudi Arabia and Russia's output cuts. It has also renewed fears about the impact on inflation, with energy costs a key driver of spiking prices, giving a fresh headache to central banks as they try to ease up on interest rate hikes to avoid recessions. The surprise attack and Israel's declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran. "Key for markets is whether the conflict remains contained or spreads to involve other regions, particularly Saudi Arabia," said ANZ Group's Brian Martin and Daniel Hynes. "Initially at least, it seems markets will assume the situation will remain limited in scope, duration, and oil-price consequences. But higher volatility can be expected." Both main contracts surged more than five percent in early Asian business before easing back as the day wore on. However, SPI Asset Management's Stephen Innes warned: "Historical analysis suggests that oil prices tend to experience sustained gains after the Middle East crises. "Meanwhile, stocks tend to eventually recover and trend higher after an initial period of volatility. Safe-haven assets like gold and Treasurys, which initially see gains during such crises, tend to fade from their initial price spikes as the situation stabilizes. "But with Middle East analysts considering this to be a pivotal moment for Israel, the view looks incendiary in any current scenario." A decidedly risk-off mood also saw investors push into the safety of the dollar, which was up against the pound and euro, as well as the Australian and New Zealand dollars. The yen, considered one of the safest currencies, strengthened against the greenback, though it still remains locked around 11-month lows. Gold, another key haven, gained more than one percent. Equity markets were mixed, with Shanghai dropping on its first day back after a week-long holiday as investors continue to fret over the stuttering Chinese economy. There were also losses in Mumbai, Singapore, Manila, Bangkok and Wellington, though Hong Kong rose as it opened in the afternoon, having been closed in the morning owing to a typhoon. Sydney and Jakarta eked out gains. Tokyo was closed for a holiday. London edged up at the open while Paris and Frankfurt were lower. The tepid performance came despite a rally on Wall Street, where traders welcomed data showing a forecast-busting jump in new jobs but wage growth slowing. The "Goldilocks" figures -- neither too strong nor too weak -- lifted optimism the world's top economy can avoid a recession even as the Federal Reserve keeps rates elevated. Still, there are worries the bank will hike one more time before the end of the year, with officials determined to bring inflation to heel and keep it at their two percent target. Key figures around 0715 GMT West Texas Intermediate: UP 3.5 percent at $85.69 per barrel Brent North Sea crude: UP 3.1 percent at $87.23 per barrel Hong Kong - Hang Seng Index: UP 0.4 percent at 17,552.01 Shanghai - Composite: DOWN 0.4 percent at 3,096.92 (close) London - FTSE 100: UP 0.3 percent at 7,518.16 Tokyo - Nikkei 225: Closed for a holiday Euro/dollar: DOWN at $1.0540 from $1.0588 on Friday Pound/dollar: DOWN at $1.2195 from $1.2234 Dollar/yen: DOWN at 149.15 yen from 149.30 yen Euro/pound: DOWN at 86.49 pence from 86.52 pence New York - Dow: UP 0.9 percent at 33,407.58 (close) (Bloomberg News contributed to this story) The post Oil prices jump as Hamas attack on Israel fuels supply fears appeared first on Daily Tribune......»»
HCPTI to ‘make Subic port push NorthPhil economy to new highs’
The development and digitalization of the Subic port can help the economy of North Philippines (NorthPhil) and the rest of the country reach new highs. This projection came from economist and teacher Ronilo Balbieran of the University of Asia and the Pacific, citing the vast expanse and strategic location of NorthPhil’s constituent regions north of Metro Manila. Balbieran said Central Luzon, Cagayan Valley, Ilocandia and the Cordilleras could gain unprecedented economic growth from the Subic Port’s development into a truly world-class international gateway vis-a-vis a similarly ongoing modernization of the Clark Freeport Zone, creating a logistical superhighway and growth corridor, whose benefits would spill over to the rest of the archipelago. Poised to modernize the Subic Port is Harbour Centre Port Terminal Inc. (HCPTI), making its operation fully digitalized and serve as the centerpiece and crowning jewel of the entire Freeport zone. The HCPTI’s development plan envisions the Subic Port as the main draw in the marketing of Subic as an investment destination, the facility being a supposedly world-class international gateway and a catalyst of global trade and commerce. Underscoring the significance of distance in logistics, particularly involving marine freight, Balbieran said the Subic port would highlight the strategic location of NorthPhil in relation to six of the countries in the ASEAN and most of those in the Pacific Rim, including Central America. Balbieran also echoed the “sales pitch” of the Department of Tourism and the Tourism Promotions Board hailing NorthPhil as an undisrupted land mass of diverse nature, culture and adventure, featuring a wealth of resources of four large regions between the West Philippine Sea and the Pacific, or from ridge to reef and from coast to coast. “Those regions account for 18 percent of the country’s total GDP (Gross Domestic Product), adding P3.9 trillion to the national economy just for 2022. And in the last two years, these (regional economies) have grown faster than Metro Manila and the entire nation,” Balbieran explained. “With larger investments in expansion and digitalization, the Subic port can further ignite domestic and international trade to and from Luzon, which will expand the economy of NorthPhil even faster.” NorthPhil comprises 84,526 square kilometers, accounting for 28.2 percent of the country’s entire 300,000 sqkm. NorthPhil’s total land mass alone is equivalent to 76.9 percent of Luzon’s 109,965 square kilometers and 87 percent of Mindanao’s 97,530 sqkm. At the same time, the HCPTI’s modernization of the Subic port is also “consistent and fully aligned” with the PBBM administration’s infrastructure and logistics development policy thrust. Balbieran said the National Logistics Strategy of the Department of Trade and Industry included both public and private investments in Logistics 1 of the 6 pillars of improving the country’s logistics efficiency. “The Strategy emphasizes massive investments in ports nationwide, as more than 90 percent of goods pass through the ports,” Balbieran said of what was revealed by the DTI at the recent conference of the Supply Chain Management Association of the Philippines. The DTI’s National Logistics Strategy is also expected to incorporate or be seamlessly integrated with those of the departments of Agriculture, Transportation, Public Works and Highways, and Interior and Local Government as part of another plan to develop a food logistics chain, a cold chain industry, port infrastructure, and farm-to-market roads, thus ensuring affordable availability of food to consumers in real time by reducing logistics cost through investments in appropriate infrastructure and digital technologies. “Thus, the ‘expansion and digitalization of the Subic Port’ by the HCPTI is consistent with the National Logistics Strategy and Food Logistics Plan of the DTI, both getting the nod of President Ferdinand 'Bongbong' R. Marcos Jr. recently,” Balbieran said. “Specifically, though, HCPTI’s modernization of the Subic port will help bring down logistics costs, not just for the businessmen in Northern Luzon, but also for (those in) the rest of the Philippines who will use such facility to trade internationally.” Balbieran said both the DTI and the World Bank had described the Philippines’ logistics cost as “one of the highest” in Southeast Asia at more than 20 percent of sales, compared with Thailand’s only 11 percent. The post HCPTI to ‘make Subic port push NorthPhil economy to new highs’ appeared first on Daily Tribune......»»
PEZA chief lures potential Rotarian investors with ecozone perks
Members — particularly those in such business enterprises as manufacturing — of the Rotary Club of Manila, Asia’s oldest and biggest Rotary organization, were personally enticed by Philippine Economic Zone Authority director-general Tereso Panga of the benefits, particularly tax perks if they expand operations in the country or poured in investments in the ecozone. Panga, who served as guest speaker at RC Manila’s 14th General Membership Meeting at the Manila Polo Club, Makati City, on 5 October 2023, relayed to the prospective ecozone investors the various fiscal and non-fiscal Incentives offered by PEZA. He said the investment promotion agency offers income tax holidays or ITH of four to seven years depending on the industry tier and location, once onboard PEZA-run ecozones. For the National Capital Region, locators are entitled to four years of ITH for those that are in Tier 1; five years of ITH for Tier 2, and six years for those belonging to Tier 3. For locators in Metropolitan areas or areas contiguous and adjacent to NCR, a five-year ITH is given to Tier 1; six years for Tier 2, and seven years for Tier 3. “A five percent Special Corporate Income Tax holiday is also provided for 10 years for export-oriented projects, while enhanced deductions for five years are given to locators involved in domestic-oriented project activities,” Panga said. Other notable benefits awaiting interested PEZA locators include Customs duty exemption on importation of capital equipment, raw materials, spare parts, or accessories directly and exclusively used in the registered project/activity for a maximum period of 17 years unless otherwise extended under the Strategic Investment Priority Plan of the Philippine government; domestic sales allowance of up to 30 percent of total sales for export-oriented companies; value-added tax exemption on importation and VAT-zero rating on local purchases of goods and services directly and exclusively used in the registered project or activity for a maximum period of 17 years, unless otherwise extended under the SIPP; and exemption from payment of national and local government taxes and fees for the period of availment of the 5 percent special corporate income tax incentive Also, PEZA locators are entitled to employ foreign nationals; can enjoy long-term land leases of up to 75 years, and are entitled to the PEZA 2-year special non-immigrant visa issued to expatriates and their dependents as well as foreign workers. [caption id="attachment_194752" align="aligncenter" width="525"] Philippine Economic Zone Authority Director General Tereso O. Panga[/caption] PEZA performance Panga earlier reported that the investment promotion agency had reaped an overwhelming 114 percent increase in investments in the second quarter of the year, following the approval of 61 new and expansion projects for the period of April to June 2022. PEZA records showed that total investments are expected to bring in a total of P14.347 billion, 114.93 percent higher than the P6.675 billion approved investments for the second quarter of 2022. Of the 61 approved new and expansion projects, 16 are for the Information Technology industry, 15 for export/manufacturing, 13 for facilities, 13 for ecozone development, and two for IT Facilities and Logistics. Meanwhile, expected jobs to be created by those projects total 11,186, which is 29.06 percent higher compared to the 8,667 projected jobs in the 2nd quarter of 2022. For the January to June period of 2023, a total of 90 new and expansion projects have been approved and are expected to bring in P22.488 billion in investments, $747.093 million in exports, and 14,354 jobs. Japan remains PEZA’s top country investor in the first half with P8.007 billion in investments followed by Singapore with P2.169 billion. Also, Panga said that Japan topped the countries with the highest approved foreign investments at 27.34 percent, followed by Filipino companies at 23.19 percent, and American companies in the third spot at 14.82 percent. “PEZA accounted for 60.5 percent of the total foreign investment commitments in Q2 2023 with P35.75 billion,” he told the Rotary Club of Manila members. From 1995 to 2022, PEZA’s total dividends turned in to the National Treasury was a total of P26,889,567,738.07. Ecozones on the rise To date, Panga said PEZA hosts 422 ecozones and 4,352 locator companies/projects throughout the country. Of said number of ecozones, 299 are dedicated to IT Parks and Centers, 79 to manufacturing firms, 24 to agro-industrial parks, 17 are to tourism and three are to medical tourism ventures. Based on the Philippine Development Plan 2023-2028, President Ferdinand Marcos Jr. has projected that “the creation of ecozones will…maximize investments and promote industrial dispersion, especially outside metropolitan areas. Further, the ecozones will be integrated into the local economy by relaxing the requirements, facilitating the free flow of parts, components, and other inputs, and increasing open trade between zone locators and firms outside the zones.” In the coming years, various ecozones will be sprouting, while the ecozones that have already been officially proclaimed by the Office of the President include Robinsons Cyberpark Bacolod, Lima Technology Center (Expansion), Hermosa Ecozone Industrial Park (Expansion), Philtai Central Luzon Industrial Park, Felcris Centrale IT Park, ECCO 4 Building, Lopue’s Mandalagan IT Center, Marina Town Dumaguete, Naga City Industrial Park and Kamanga Agro-Industrial Economic Zone (Expansion), altogether with investments totaling P3.418 billion. Ecozones pending approval are MetroCas Industrial Estates-Special Economic Zone, Suyo Economic Zone and the expansions of Kamanga Agro-Industrial Economic Zone and Lima Technology Center, with a total investment amount of P773.962 million. As of September 2023, the governing board of PEZA has approved big-ticket investments with a total committed investment of P193.200 billion, and these are the First Pangasinan Property Development Corp., Raedang International Builders and Development Corp., Green Energy with Torrefaction Technology Inc., Dyson Electronics PTE, Ltd. Philippine Branch, Sunpower Philippines Manufacturing Ltd., Isla Import Terminals Inc., MJ Landtrade Development Corp., YCO Cloud Malvar Inc., Savya Land Development Corporation, RLGB Land Corporation, Robinsons Land Corporation, TDK Philippines, P. Imes Corp., Best-one Ever Luck Realty Corp., Knowles Electronics (Phil) Corporation, WIPRO Phils. Inc., Glensworth Development Inc., ACI Inc., Megaworld Corporation and Kyungshin Pampanga Philippines Inc. Currently, Panga said PEZA is focused on seven priority sectors, that is, advanced manufacturing, extractives (green ores processing), agriculture and blue industries, IT services and frontier technologies, eco-industrial park development (renewable energy and alternative energy, clean water and wastewater treatment, circular economy, sustainable development goals, green buildings, smart systems integration), Science, Technology and Innovation and the integration of small and medium enterprises into the ecozone value chain. Cannot be done alone by PEZA Panga, in conclusion during his speech at the Rotary Club of Manila meeting remarked that attracting foreign direct investments cannot be done by PEZA alone or by any other investment promotion agency left to its own devices. He emphasized that what is needed to make things work is a whole government, industry and society approach to lessen the cost and improve ease of doing business in the country. “Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will strive for success in attaining our country’s goals and objectives, and continue to push for eco-zoning the Philippines towards inclusive and sustainable development,” Panga said. The post PEZA chief lures potential Rotarian investors with ecozone perks appeared first on Daily Tribune......»»
Phl economy still strongest this year — RCBC
The Philippine economy will remain among Asia’s strongest in the fourth quarter despite a possible higher interest rate because of strong consumer demand for certain products and services and more employed Filipinos, the chief economist of Rizal Commercial Banking Corporation said Saturday. “This growth forecast is still among the fastest in the region because our economy is doing well,” RCBC’s Michael Ricafort said. The World Bank recently downgraded this year’s Philippine economic growth to 5.6 percent from 6 percent due to inflation risks, apart from lower government spending and weaker demand for exports. However, it is still higher than China’s 5.1 percent, Indonesia’s 4.9 percent, and Malaysia’s 4.3 percent growth forecast. Ricafort said the Bangko Sentral ng Pilipinas (BSP) might raise its policy rate this year to slow inflation to 4 percent by year-end after it accelerated again to 6.1 percent last month. “The BSP is working to bring down prices of goods and services. As an unintended consequence, the economy could slow down. Borrowing costs for business owners also increase and consumer demand weakens,” he said. Ricafort said global oil prices have started falling which could discourage the central bank from raising its rate drastically. “Global oil prices have declined to $82 to $83 per barrel from a peak of $95 per barrel last month or since the war between oil-rich countries Russia and Ukraine began,” the economist said. He also expected a downtrend in rice prices starting this month as he said local farmers have begun collecting fresh harvests. “Inflation quickened last month mainly from higher prices of rice which accounted for nearly 9 percent of the inflation basket and grew 17 percent year-on-year,” Ricafort said. While a higher interest rate aims to slow consumption, Ricafort said the continued flow of remittances from overseas Filipino workers, or at least 3 percent growth yearly will still support substantial levels of consumer spending, especially during the Christmas season. “That is more than $40 billion a year. That’s the fourth largest in the world after India, China and Mexico,” the economist said. He added more Filipinos or 800,000 could earn from business process outsourcing or BPO this year as the industry’s revenue could rise from $32.5 billion to $59 billion based on data from the Contact Center Association of the Philippines. Another growth area is tourism, which Ricafort said saw 4 million foreign visitors last month, nearing the 4.8 million full-year target of the government. He added higher productivity among Filipinos is also expected as the country’s unemployment rate declined to 4.4 percent in August from 4.8 percent in July, based on data from the Philippine Statistics Authority. Moving forward, Ricafort said the government must improve science and technology education for higher quality jobs and increase spending on infrastructure amid the full reopening of most economies. “We are now fully reopened. Students are also back in schools which encourages putting up food businesses. Labor market in the US also improved which will affect export trade,” he said. Ricafort added the government could continue distributing financial and other assistance to farmers to control inflation. He believed the inflation rate will approach 3 percent next year, close to the ideal 2 percent for healthier economic growth. The post Phl economy still strongest this year — RCBC appeared first on Daily Tribune......»»
Typhoon Koinu brings record winds, knocks out power in Taiwan
Typhoon Koinu grazed the southern edge of Taiwan on Thursday, lashing the island with the strongest winds it has ever recorded and knocking out power to hundreds of thousands of homes. Koinu made landfall in the island's southernmost Cape Eluanbi Thursday morning and was weakening as it moved 80 kilometers (50 miles) off the coast by 1:00 pm local time (0500 GMT), according to Taiwan's Central Weather Administration. Pan Huang Kui-chun, a 68-year-old temple keeper in southern Pingtung county, said it was "terrifying" watching powerful winds bring down power poles in his neighborhood. "It nearly dismantled my house. I had to move all my deities to the side," he told AFP. "This time the typhoon was especially big. Really big. The wind was really strong. And it blew for a very long time. It took a long time for it to pass." Overnight, the eastern volcanic islet of Orchid Island -- home mostly to fishermen and farmers -- experienced wind gusts overnight equivalent to 342.72 kilometers per hour (212 mph) as Koinu moved west towards Taiwan's southern tip, according to the Central Weather Administration. "The maximum wind gusts of 95.2 meters per second measured in Orchid Island last night is a new record in Taiwan," a forecaster told AFP. Local media said some 2,400 homes on Orchid Island were without power, while the classrooms of an elementary school were damaged by the powerful gales. Taiwan experiences frequent tropical storms from May to November. Authorities had closed schools and offices on Thursday in anticipation of Koinu's impact. Experts say climate change has made the paths of tropical storms harder to forecast while increasing their intensity -- leading to heavy rains, flash floods and strong gusts. Downed power lines Rain-drenched streets were deserted Thursday in Taiwan's southern Taitung and Pingtung counties, with strong winds knocking over street signs and tearing off metal roofing. Around 190 people were injured, the government said without providing any further details. Local media said some injuries were caused by falling trees. Across Taiwan, more than 300,000 homes temporarily lost power, with authorities still working to restore electricity to about 80,000 households. Downed electricity lines littered the roadside in Pingtung as work crews attempted to bring in fresh poles by truck. A supervisor told AFP it would take at least two days to restore the power. More than 200 international and domestic flights were cancelled, while nearly 3,000 people in mostly mountainous regions were evacuated as a precaution. Koinu comes about a month after Taiwan suffered a direct hit from Typhoon Haiku, the first in four years and which forced nearly 8,000 people to evacuate from their homes. It is expected to weaken as it moves towards the coastal waters of China's eastern Guangdong province, according to the weather observatory in nearby Hong Kong. The Chinese territory, which was skirted by a typhoon last month before being flooded by the heaviest rainfall in 140 years days later, issued its lowest typhoon signal on Wednesday night. The post Typhoon Koinu brings record winds, knocks out power in Taiwan appeared first on Daily Tribune......»»
Typhoon ‘Jenny’ maintains strength
Typhoon “Jenny” maintained her strength as she moved north-northwestward over the Philippine Sea, the state weather bureau said Tuesday. In its latest weather bulletin, the Philippine Atmospheric, Geophysical, and Astronomical Services Administration, said “Jenny” will continue to enhance the Southwest Monsoon or habagat, bringing significant rains over the western portions of Central Luzon, Southern Luzon and Visayas in the next three days. PAGASA said the enhancement of the Southwest Monsoon will bring gusty conditions for the next three days over areas not under any Wind Signal, especially in coastal and upland/mountainous areas exposed to winds including Bataan, the southern portion of Aurora, Metro Manila, Calabarzon, Romblon, and most of Bicol Region. Gale Warning is hoisted in the coastal waters along the seaboards of Northern Luzon. The typhoon will also bring moderate to rough seas (1.5 to 3.5 m) over the coastal waters of northern Aurora. PAGASA advised mariners of motor bancas and similarly-sized vessels to take precautionary measures while venturing out to sea. If possible, navigating in these conditions, especially if inexperienced or operating ill-equipped vessels, shall be avoided. Typhoon “Jenny” is forecast to move northwestward or west-northwestward until tomorrow before turning generally westward thereafter. On the track forecast, “Jenny” will make landfall over the southern portion of Taiwan between late Wednesday evening, or Thursday morning, then exit the Philippine Area of Responsibility between Thursday morning and afternoon. The post Typhoon ‘Jenny’ maintains strength appeared first on Daily Tribune......»»
Typhoon Jenny maintains strength over Phl Sea
Typhoon Jenny maintains strength as it moves north-northwestward over the Philippine Sea, the state weather bureau said Tuesday. In its latest weather bulletin, the Philippine Atmospheric, Geophysical, and Astronomical Services Administration, said Typhoon Jenny, as it continues to enhance Southwest Monsoon or habagat, will bring significant rains over the western portions of Central Luzon, Southern Luzon, and Visayas in the next three days. PAGASA said the enhancement of the Southwest Monsoon by Jenny will bring gusty conditions for the next 3 days over the following areas not under any Wind Signal, especially in coastal and upland/mountainous areas exposed to winds including Bataan, the southern portion of Aurora, Metro Manila, Calabarzon, Romblon, and most of Bicol Region. Gale Warning is hoisted in the coastal waters along the seaboards of Northern Luzon. The typhoon will also bring moderate to rough seas (1.5 to 3.5 m) over the coastal waters of northern Aurora. PAGASA advised mariners of motor bancas and similarly-sized vessels to take precautionary measures while venturing out to sea. If possible, navigating in these conditions, especially if inexperienced or operating ill-equipped vessels, shall be avoided. Typhoon Jenny is forecast to move northwestward or west-northwestward until tomorrow before turning generally westward thereafter. On the track forecast, Jenny will make landfall over the southern portion of Taiwan between late Wednesday evening, or Thursday morning, then exit the Philippine Area of Responsibility between Thursday morning and afternoon. When outside the PAR region, Jenny will continue moving westward slowly over the Taiwan Strait towards the coastal waters of southern China. PAGASA said the weakening trend continues due to the increasing dry air entrainment and vertical wind shear. “Land interaction during its passage over the rugged terrain of southern Taiwan will further weaken the tropical cyclone. Once over the Taiwan Strait, additional cool dry air from the north will entrain into JENNY, resulting in further weakening,” it added. Typhoon Jenny was last tracked over the 325 km East Northeast of Basco, Batanes as it moves North Northwestward at 10 kilometers per hour. It packs maximum sustained winds of 155 kph near the center and gustiness of up to 190 kph. Tropical Cyclone Wind Signal PAGASA said the Tropical Cyclone Wind Signal No. 2 is hoisted in Batanes with winds of greater than 62 kph and up to 88 kph may be expected in at least 24 hours. TCWS No. 1 is raised over the Cagayan including Babuyan Islands, the northern and eastern portions of Isabela (Maconacon, Divilacan, Palanan, Santa Maria, San Pablo, Tumauini, Cabagan, Ilagan City, San Mariano, Santo Tomas, Dinapigue, Benito Soliven, Naguilian, Gamu, Quirino, Delfin Albano, Quezon, Mallig), Apayao, the northeastern portion of Abra (Tineg, Lacub, Malibcong), the northern portion of Kalinga (Balbalan, Pinukpuk, Rizal, City of Tabuk), and Ilocos Norte. Winds of 39-61 kph may be expected in the above-mentioned areas for at least 36 hours or intermittent rains may be expected within 36 hours. At least seven towns in Pangasinan have suspended classes due to the inclement weather brought by Jenny while monsoon rains continue to dump in the province. Classes in all levels were suspended in the towns of San Manuel, Pozorrubio, and San Jacinto, while classes from pre-school to high school were canceled in the towns of Asingan, Mangaldan, and San Fabian. Only classes from pre-school to elementary were suspended in the town of Manaoag. The post Typhoon Jenny maintains strength over Phl Sea appeared first on Daily Tribune......»»
DepEd-7 to teachers: Look for strategies to draw back students’ attention
CEBU CITY, Philippines — A Department of Education in Central Visayas (DepEd-7) official urged teachers to look for alternative strategies to bring back their students’ attention instead of resorting to extreme disciplinary action during classes. Dr. Salustiano Jimenez, regional director of DepEd-7 made this comment on Tuesday, October 2, following the slapping incident in Antipolo,.....»»
LPA enters PAR, develops into tropical depression ‘Jenny’
The low-pressure area tracked over the east of Central Luzon has entered the Philippine area of responsibility (PAR) and developed into Tropical Depression Jenny, the state weather bureau said Friday. In its latest weather bulletin, the Philippine Atmospheric, Geophysical and Astronomical Services Administration reported that the LPA entered the country and developed into a tropical depression around 2 p.m. on Friday. PAGASA said TD Jenny is not directly affecting the country. However, it is expected to bring heavy rains over Batanes and Babuyan Islands in the next five days. PAGASA said TD Jenny may enhance the Southwest Monsoon or ‘habagat’ beginning on Sunday, resulting in possible occasional rains over the western portions of Central and Southern Luzon. The tropical depression is forecast to track generally westward or west-northwestward until Saturday before turning further north over the Philippine Sea east of Northern and Central Luzon. It will then be expected to have a close approach over the Batanes area by Wednesday. PAGASA sees the TD may landfall over Batanes-Babuyan or northeastern mainland Cagayan. Jenny is also expected to steadily intensify throughout the forecast period and may reach the tropical storm category tomorrow afternoon. It may be upgraded into a typhoon category by Wednesday during its close approach over the Batanes area. Jenny is currently moving westward at 20 kilometers per hour with maximum sustained winds of 45 kph near the center and gustiness of up to 55 kph. No tropical cyclone wind signal is currently hoisted. The post LPA enters PAR, develops into tropical depression ‘Jenny’ appeared first on Daily Tribune......»»
Mindoro farmers lock arms, eye dev’t
Oriental Mindoro farmers are pooling their ideas to address urgent agricultural issues and forge long-term solutions. The Roxas Farmers’ Forum was inaugurated in San Mariano, Roxas by Mayor Leo Cusi Sr., that has as participants representatives from government agriculture agencies, financial institutions, and technical specialists. The forum was conducted at Amor’s Place in San Mariano, Roxas, in collaboration with the Mindoro Business Council and Mindoro Outstanding Ventures, or MOVE. In his introductory remarks, Mayor Cusi emphasized the importance of agriculture to the economic, social, and environmental development of the municipality He cited the significance of adopting a triple-bottom-line approach to sustainability, which includes economic prosperity, social welfare and environmental stewardship. Dismantling the shackles of poverty Despite their unwavering dedication to cultivating fertile lands, persistent destitution among farmers was one of the central themes that permeated the forum. Participants expressed concerns regarding the high costs of agricultural inputs and the meager returns from their produce sales. This raises the fundamental question: should the focus be solely on reducing input costs, or is increasing farm gate prices the key to increasing income levels? From conversation to actionable recommendations Recent conversations between local producers in Roxas prompted a paradigm shift in the agricultural community. Participants came to the conclusion that it was time to move on from merely discussing obstacles to actively developing concrete solutions. Thus, the Roxas Farmers’ Forum was established to bring together all agricultural sector stakeholders for the purpose of formulating actionable recommendations. An integrated approach to agriculture The primary purpose of the forum was to advocate for an organized and all-encompassing cultivation strategy. Numerous potential actions, such as composing letters of request, proposing policy changes through resolutions, and submitting project proposals, were investigated. The overarching objective was to resolve comprehensively the complex challenges facing the agricultural sector. The post Mindoro farmers lock arms, eye dev’t appeared first on Daily Tribune......»»