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Cuts in bank reserves unlikely soon – BSP
The Bangko Sentral ng Pilipinas is unlikely to cut banks’ reserve requirement ratio in the third quarter, amid expectations of policy rate cuts in the second half of the year......»»
BSP unlikely to cut rates in 1st half
The Bangko Sentral ng Pilipinas is unlikely to cut key policy rates within the first half of the year as it deems it necessary to keep monetary policy settings sufficiently tight in the near term to better anchor inflation expectations and mitigate second-round effects......»»
Al-ag proposes to repeal ordinance requiring delivery riders biz permits
Davao City Councilor Bernie Al-ag has proposed the repeal of an ordinance that requires delivery riders to obtain business permits. The ordinance in question, City Ordinance 0612-21 series of 2021, classified delivery riders as independent service contractors, mandating them to apply for business permits. However, a joint memorandum circular issued by various government agencies exempts individuals providing personal services, including delivery riders, from securing business permits. Al-ag emphasized that the city government must adhere to the guidelines set forth in the memorandum. While the proposed repeal is pending, Al-ag advised delivery riders to comply with the existing ordinance. He expressed confidence in the passage of the repeal, citing the solid basis provided by the joint memorandum. Despite a group of delivery riders seeking an audience with Davao City Mayor Sebastian Duterte on the matter, Al-ag's proposal was drafted in response to a separate petition. He clarified that the repeal is not about monetary collection but aligning with national law, which exempts delivery riders from obtaining business permits. Al-ag remains optimistic about the repeal's approval, pointing to the support provided by the joint memorandum as a strong foundation for his proposal......»»
Consumers express mixed reactions on slight power rate increase
Consumers of Davao Light and Power Co., Inc. have expressed mixed reactions to a slight increase in the overall power rate starting January 2024. The increase is attributed to higher market prices affecting the generation rate. Noriza Mabanding, a virtual assistant, noted the impact on her energy usage and the need to schedule appliance usage to save energy. Jenalyn Manguiob, a small business owner, expressed dissatisfaction with the increase's effect on her business but acknowledged the global market's influence and the importance of conserving energy. The increase amounts to P0.0774 per kWh, resulting in a minor increase in electricity bills for residential customers......»»
Calinan District residents protest vs disguised Cha-cha
Residents from the 19 barangays in Calinan District rallied against the disguised People's Initiative for Charter Change in a protest held on January 19, 2024. Organized by the barangay captains, around 100 individuals from each barangay gathered at Rizal Park, chanting Dabawenyos are not for sale and expressing their disapproval of the alleged cash-for-signature scheme. The protest emphasized the residents' desire for fairness and a better government approach, rejecting the notion of exchanging signatures for money. Participants, including both young and old residents, voiced their opposition to the charter change, with the youth expressing concerns about power-hungry officials. Even 75-year-old Rosminda Amarilla joined the protest to question the need for change after numerous presidents have governed without such alterations. The rally, which included a motorcade and drew approximately 300 participants, received disapproval from Congressman Paolo Pulong Z. Duterte and Congressman Isidro Ungab, who alleged that the signature campaign was orchestrated by leaders of the Pwersa ng Bayaning Atleta (PBA) Partylist. As of the latest update, PBA Representative Margarita Atty. Migs Nograles has yet to release a statement on the matter......»»
Indonesia’s Mount Marapi erupts again, no reported casualties
AGAM, Indonesia — Indonesia’s Mount Marapi erupted again on Sunday, spewing smoke and ash high into the air, but no casualties were reported. The Marapi Volcano Observation Post in West Sumatra province recorded an eruption with an ash column about 1,300 meters (4,265 feet) high from its peak, followed by ash rain. Sprays of ash.....»»
Lady Bullpups sweep way to glory
Local bet National U-Nazareth School survived the 51-point eruption of Naomi Panganiban for the fancied Fil-Am Nation Select Girls 1, 78-73, to reign supreme in the Manila Live Girls Under-19 Championships powered by the Smart-National Basketball Training Center (NBTC) yesterday at the Mall of Asia Arena......»»
Pagasa says LPA may not enter PAR, but trough to bring rain in Mindanao
MANILA, Philippines — The low pressure area monitored outside the Philippine area of responsibility (PAR) is unlikely to enter PAR, state meteorologists said on Sunday afternoon. “Itong low pressure area sa labas ng ating Philippine area of responsibility, mababa ang tiyansa na pumasok nga sa ating area of responsibility,” specialist Veronica Torres explained in a.....»»
Police: No truth to bomb threat at PI’s prayer rally
The Davao City Police Office (DCPO) has debunked a text message claiming a bomb threat at the People's Initiative (PI) “Unity for One Nation, One Prayer” rally in San Pedro Square. The message warned of possible explosions at Rizal Park, one of the rally venues. Despite the lack of credible threats, the police urged vigilance and cooperation from the public for safety. Approximately 300 police personnel were deployed to secure various rally points, with additional support from volunteers and security clusters. Task Force Davao also activated a high alert status as part of the city's security measures. Captain John Louie Dema-ala confirmed that the circulating threat was unfounded and aimed at intimidating rallyists. Despite this, nearly 17,000 Dabawenyos joined the rally to oppose the proposed Charter change (Cha-cha) movement. The police and security forces remain vigilant and are conducting ongoing investigations into the social media threat......»»
BSP onboards 1st nonbank electronic money issuer
The Bangko Sentral ng Pilipinas (BSP) achieved a significant milestone by welcoming OmniPay, Inc. as the first nonbank electronic money issuer (EMI) participant in its Real Time Gross Settlement (RTGS) payment system, PhilPaSSplus. This move aligns with the National Payment Systems Act and signifies a more inclusive national payment system, allowing nonbank financial institutions to conduct efficient and low-risk funds transfers directly through the central bank. Assistant Governor Mary Anne P. Lim emphasized the BSP's commitment to safeguarding the entire Peso RTGS payment system amidst global trends of diversified participation. With 236 institutions, including various banks and nonbank entities, utilizing PhilPaSSplus for large value transactions and retail payment clearing, the BSP's initiative reflects a broader trend of central banks facilitating direct access for nonbank entities to settlement services. This development comes as international standard-setting bodies work on access guidelines to manage risks in evolving payment systems with new players and financial technologies......»»
School vacations in summer months to be back — DepEd
MANILA, Philippines — Adjustments have been made by the Department of Education to return to the old school calendar, wherein vacations take place during the summer months. This followed after they received mounting complaints from teachers, learners and parents about the extreme heat that students had to endure in public school classrooms especially during their.....»»
Trough of LPA to bring isolated rain showers in Mindanao — PAGASA
In its 4 a.m. bulletin, PAGASA said that the SOCCSKSARGEN region may experience cloudy skies with moderate to heavy rains, which may result in possible flash floods or landslides due to the trough of the LPA or the extension of LPA......»»
PUV consolidation deadline moved by 3 months
MANILA, Philippines — Jeepney drivers and operators who have yet to form themselves into cooperatives for the PUV consolidation can heave a sigh of relief, for now. President Marcos gave them until April 30, or three more months, to apply for consolidation under the government’s public utility vehicle modernization program (PUVMP). Presidential Communications Office (PCO).....»»
Exploring a world of creativity
FROM portraits to makeup to cosmetic tattoos and clothing, 26-year-old Dabawenya artist Goldie Siglos, known for her brand Bulawan (which means ‘gold’ in Bisaya), explores a diverse array of creative expressions. Goldie attended Brokenshire College of Toril for her basic education before pursuing a bachelor's degree in Fine Arts Major in Fashion Design at the Philippine Women's College......»»
FPRRD to deal with ICC probe, won’t seek help from PBBM
FORMER President Rodrigo Duterte will be dealing with the International Criminal Court’s (ICC) probe regarding his administration's war on drugs, and won't seek any help from his successor, President Ferdinand "Bongbong" Marcos Jr......»»
Newborn found, rescued in Calinan
A newborn baby boy was discovered and rescued at Apigo Farm in Calinan, Davao City on January 22, 2024. Elmer Cawayan, a caretaker at the farm, found the infant wrapped in a black cloth and promptly alerted the authorities. The baby is currently under the care of the Calinan Police Station, City Social Welfare and Development Office, and Barangay Disaster Risk Reduction and Management Council. A video posted online expressed outrage at the parents' abandonment of the child, while the newborn is receiving medical attention at Dr. Lorenzo Principe Clinic. The Calinan Police Station is actively investigating to identify the infant's parents......»»
Donated clothes
Evacuees from the landslide area of Barangay Masara, Maco, Davao de Oro scavenge for used clothes from donations at the Lorenzo Sarmiento Sr. National High School in Mawab, Davao de Oro on 11 February 2024. MindaNews photo by MANMAN DEJETO.....»»
‘El Niño unlikely to cause crisis’
The El Niño phenomenon being experienced in the country is not expected to result in a crisis as food, water and power supplies are adequate during the critical months, an official of the El Niño Task Force said yesterday. Task force spokesperson Joey Villarama said that with all the preparations, interventions and mitigations being done by the government, he does not foresee the El Niño phenomenon creating a crisis......»»
Abra, Ilocos Sur evacuees return to their homes after troopers-rebels clash
Villagers who fled after Tuesday morning’s firefight between government troopers and communist rebels along the border of Pilar, Abra and Sta Maria, Ilocos Sur have returned to their homes......»»
Shelter
Evacuees from the landslide area of Barangay Masara, Maco, Davao de Oro stay inside tents at the Lorenzo Sarmiento Sr. National High School in Mawab, Davao de Oro on 11 February 2024. MindaNews photo by MANMAN DEJETO.....»»