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Red carpet to be rolled out for FIVB world meet
The Philippines will leave no stone unturned for the FIVB Volleyball Men’s World Championships 2025 – in terms of hosting the event for the first time ever and competing anew after 50 long years......»»
Holy Week security in place: Zambo police
Holy Week security in place: Zambo police.....»»
Philippines vows hosting readiness for men’s volleyball world championship
The Philippines assured to leave no stone unturned in the FIVB Volleyball Men’s World Championships 2025 — in terms of hosting for the first time ever and competing anew after 50 long years......»»
eTravel pains
You know it’s a popular season for traveling when television news outlets are already reporting live from the Ninoy Aquino International Airport to check if there are already hordes of passengers preparing to leave town or the country during the Holy Week break......»»
Golden Haven launches international campaign for OFWs
Golden Haven, the country’s leading memorial park developer, has launched its GO! International campaign, a groundbreaking initiative that aims to help overseas Filipino workers secure their financial future......»»
OFW aspirants told: Engage with licensed recruitment agencies only
CEBU CITY, Philippines — The regional director of the Department of Migrant Workers in Central Visayas (DMW-7) warned aspiring Overseas Filipino Workers (OFWs) to engage with only legitimate and licensed recruitment agencies. Lawyer Karl Arriola, DMW-7 director, told CDN Digital that even if he was a lawyer, he still subscribed to the doctors’ advice: Prevention.....»»
Heads should roll over Chinese recruitment in PCG – lawmaker
Whether in good faith or not, recruiting Chinese nationals into the Philippine Coast Guard should make the concerned government officials “accountable” even if the foreigners were just members of an auxiliary group, a lawmaker said yesterday......»»
Filipino seafarers injured in Houthi attack back in Philippines
They arrived via a chartered medical evacuation flight on Thursday morning after they were cleared “fit for travel” by medical authorities in Djibouti. .....»»
Marcos starts 4-day visit in Melbourne for Asean summit
MELBOURNE—President Ferdinand Marcos Jr. arrived in Australia at 7:15 p.m. (4:15 p.m. Manila time) on Sunday to start the four-day second part of his visit. He, along with the first lady Liza Araneta-Marcos and their official delegation, landed at Melbourne Airport aboard a chartered Philippine Airlines flight PR 001. He will be in Melbourne from.....»»
‘Tight monetary policy to restrict FDI inflow’
The higher-for-longer interest rate environment is expected to constrain the inflow of foreign direct investments into the Philippines next year, according to Standard Chartered Bank......»»
DOLE raises minimum wage in Northern Mindanao
The region's wages body also increases the monthly minimum wage of house helpers by P500 for chartered cities and first-class municipalities and P1,500 for other municipalities.....»»
Artjoy Torregosa flexes winning form in Singapore marathon
CEBU CITY, Philippines — Vaunted long-distance runner Artjoy Torregosa flexed her winning form in the recently concluded Standard Chartered Singapore Marathon after emerging as the fastest female 21-kilometer finisher, despite being not recognized by the organizers as the overall winner last Sunday, December 3, in Singapore. Torregosa raced head-to-head against Singapore’s top long-distance runners and.....»»
StanChart bullish on Philippines growth
Newly appointed Standard Chartered Bank Philippine CEO Mike Samson is optimistic about the Philippines’ economic growth prospects......»»
Thai nationals escape Myanmar s conflict, returning home on chartered flights
SHAN STATE, Myanmar - Over 200 Thai nationals are being rescued and flown back to Thailand after being caught in the crossfire of clashes between soldiers and armed ethnic-minority groups in northern Myanmar, according to the Thai Ministry of Foreign Affairs.Myanmar's military, which seized power in a coup in 2021, is facing armed opposition from an alliance of three ethnic minority groups and pro-democracy acti.....»»
Other countries might join Phl maritime activities in WPS after Ayungin collision—DND
Defense Secretary Gilberto Teodoro Jr. believed that the recent collision incidents, involving the China Coast Guard and the Philippine resupply boats in Ayungin shoal, would attract more countries that have an interest in freedom of navigation in partnering with the Philippines in conducting maritime activities in the West Philippine Sea. “I believe it will invite more countries who have an interest in freedom of navigation to participate not only in joint sails but in other security engagements with the Philippines,” Teodoro said in an interview with the state-run Radyo Pilipinas on Wednesday. Teodoro said the Philippines’ engagements with other countries may include capability upgrades, intelligence exchanges, and other defense military-to-military and defense-to-defense cooperation agreements. “To include defense industries in the country,” he added. Teodoro noted that the Philippine government is considering and calibrating many options to address China's increasing aggression in the WPS. In a separate interview, Armed Forces of the Philippines chief Gen. Romeo Brawner Jr. confirmed the possibility that the Philippines would conduct maritime activities with other countries. “That's a possibility. Tinitignan natin lahat ng mga (We are looking at all) options,” Brawner said, when asked about the chances that other nations may join the Philippines in its rotation and re-provisioning mission to BRP Sierra Madre in Ayungin shoal. The military chief added that these chances also include the use of a Navy ship during the Rore mission since the BRP Sierra Madre is also a naval vessel. But they are still studying which country could possibly join the resupply mission. The AFP is currently contracting private boats for its re-provisioning mission to the troops stationed in the grounded Philippine Navy warship in Ayungin Shoal. Last 22 October, a CCG vessel collided with the AFP-chartered resupply ship, Unaiza May 2, after the former attempted to block the latter’s path en route to BRP Sierra Madre at about 10.5 nautical miles from Ayungin Shoal. A separate collision occurred between BRP Cabra and a Chinese Maritime Militia vessel at about 6.4 nautical miles from Ayungin Shoal on the same day. After the incident, the Philippines and China accused each other of increasing tension in the WPS. Both the United States and Canada condemned China for its “dangerous maneuvers” against the Philippine ships in the waters off Ayungin shoal. The post Other countries might join Phl maritime activities in WPS after Ayungin collision—DND appeared first on Daily Tribune......»»
Beijing ‘violated’ 3 maritime laws
China violated at least three international maritime rules during the collisions of its ships with Philippine vessels at Ayungin Shoal on 22 October. Commodore Jay Tarriela, Philippine Coast Guard spokesperson for the West Philippine Sea, said vessels of the China Coast Guard and Beijing’s maritime militia infringed on provisions of the 1972 Convention on the International Regulations for Preventing Collisions at Sea, or COLREGs. “The first one violated was Rule 2 or the responsibility of the vessel. This rule emphasizes that nothing in the COLREGs can absolve any vessel from the duty to avoid a collision,” he said. Tarriela explained that deliberately blocking a vessel “not only increases the risk of collision” but also disregards the “fundamental principle of taking action to prevent a potential collision.” China also ran afoul of Rule 7, or the risk of collision, which requires every vessel to “use all available means appropriate to the prevailing circumstances and conditions to determine if a risk of collision exists,” he said. Tarriela said that Rule 7 is considered in conjunction with other relevant rules and factors, such as Rules 5 (look-out), 6 (safe speed), and 8 (action to avoid collision). During the incidents, China ignored Rule 18A or “the responsibilities between vessels” which requires a vessel to keep out of the way of another vessel if the latter has the right of way, Tarriela said. By deliberately blocking a vessel, “you are not allowing the other vessel to proceed in accordance with their right of way,” he explained. Shadowed He noted the active participation of the Chinese militia ships in the harassment and blocking of the supply contingent from the Armed Forces of the Philippines. “For the first time, the Chinese maritime militia vessels are also doing such dangerous maneuvers. They even collided with our PCG vessel. Before, they were just taking orders from the CCG,” he said. During the resupply mission, the Philippines was outnumbered by five CCG vessels, eight militia ships, and two People’s Liberation Army Navy vessels. The Chinese ships shadowed and harassed the Philippine vessels. A CCG vessel collided with the AFP-chartered resupply ship, Unaiza May 2, as it attempted to block the latter’s path to the BRP Sierra Madre at about 10.5 nautical miles from Ayungin Shoal on Sunday. On the same day, a separate collision occurred between the BRP Cabra and a CMMV some 6.4 nautical miles from Ayungin Shoal. The post Beijing ‘violated’ 3 maritime laws appeared first on Daily Tribune......»»
Standard Chartered taps ePLDT for digital upgrade
Standard Chartered Bank has tapped the information and communications technology arm of telco giant PLDT Inc. to boost its digital infrastructure after it picked the Philippines as the site of its new global business services hub......»»
PEZA chief understands investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. During discussions at the Rotary Club of Manila membership meeting last 5 October 2023, a member of the Club who is an investor in various sectors locally said the current policies of the government in terms of tax perks were unpredictable because of the “tug of war” between the investment promotion agencies, that is, PEZA and the Board of Investments, which are both under the watch of the Department of Trade and Industry, and the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. Last among five countries He said that explains why the Philippines is the last among five countries considered by investors as investment destinations in Southeast Asia, with investments now being dominated by Vietnam, followed by Singapore, Malaysia and Cambodia. The Rotarian said in terms of exports, the Philippines is also a laggard compared to the performance of the country’s Southeast Asian counterparts. Total Philippine exports dropped to $6.1 billion in July 2023, from $6.7 billion in the previous month. In comparison, Vietnam in August 2023 enjoyed $32.8 billion in exports. Most attractive destination Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure and pro-foreign investment policy changes. According to Standard Chartered Bank, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which also doesn’t have clear policies for renewable energy, data centers, information technology and artificial intelligence. “We have yet to see concrete policy formulation and a roadmap to that effect, compared to the recent pronouncement of US President Joe Biden that Vietnam is positioned as the future chipmaker. The United States is currently legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. Regarding this, PEZA’s Panga admitted that there were indeed ‘differences’ in terms of policies among government agencies, particularly the DTI and the FIRB. Still, Panga sought the support of the oldest and first Rotary Club in Asia where it concerns PEZA’s job to further attract foreign direct investments into the country. Panga emphasized that a whole government, industry, and society approach is needed to improve and lessen the cost of doing business. Eco-zoning push “Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development,” he added. Last August 2023, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the CREATE Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands investors’ dilemma appeared first on Daily Tribune......»»
PEZA chief understands Rotarian investors’ dilemma
The director general of the Philippine Economic Zone Authority said he understands the clamor of investors with regard to tax perks and incentives, which is why it’s only right that the government has finally decided to amend the implementing rules and regulations of Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act. During discussions at the Rotary Club of Manila Membership Meeting on Thursday, a Rotarian who has invested in the country said the current policies of the government in terms of tax perks remain unpredictable because of the ‘tug of war’ between the investment promotion agencies, namely PEZA and the Board of Investments, which are all under the watch of the Department of Trade and Industry, with the Fiscal Incentives Review Board, chaired by Finance Secretary Benjamin Diokno. He said that the reason why the Philippines is the last among the top five countries considered as top investment countries in Southeast Asia, which is now being dominated by Vietnam, followed by Singapore, Malaysia, and Cambodia. He said in terms of exports, the Philippines is also a laggard compared to the performance of Southeast Asian counterparts. The Philippines' total exports plummeted to $6.1 billion in July 2023, compared with $6.7 billion in the previous month. Its tough competitor, Vietnam, this August 2023 is enjoying $32.8 billion in exports. Vietnam is now considered Southeast Asia’s most attractive destination for foreign investors because of its favorable business environment, steady economic growth, improved infrastructure, and policy changes. According to Standard Chartered, Vietnam’s advantages to being the top tourist destination are in terms of labor, global trade integration, supply chains, political stability, and potential resources, with the government committed to promoting trade and sustainable growth. Unclear policies Another issue that was being questioned by some investors, according to the Rotarian, is the realization of the Fourth Industrial Revolution which doesn’t have clear policies for renewable energy, data centers, information technology, and artificial intelligence. “We have yet to see concrete policy formulation and roadmap to that effect. Compared to the recent pronouncement of US President Joe Biden Vietnam will be positioned as the future chipmaker, and the US is now legislating measures to dispense funds for that purpose. There seems to be a disconnect,” the investor said. With this, PEZA’s Panga admitted that there are indeed ‘differences’ with government agencies, particularly the DTI and the FIRB, but also sought the support of the club in PEZA’s job to further attract foreign direct investments into the country. Panga further emphasized that a whole government, industry, and society approach is needed to improve the ease and lessen the cost of doing business. "Through our collaborations and strategic alliances, PEZA, together with the Rotary Club of Manila, other ecozone industries, and stakeholders, will continue to push for eco-zoning the Philippines towards inclusive and sustainable development," he added. Last August, Finance Secretary Diokno and Trade and Industry Secretary Pascual approved the amendment to the IRR of the Act that will resolve the value-added tax issues raised by transitory registered business enterprises. The post PEZA chief understands Rotarian investors’ dilemma appeared first on Daily Tribune......»»
Strong local banks buttress economy
The strong banking system is considered a source of strength for the economy, Bangko Sentral ng Pilipinas Deputy Governor Francisco Dakila Jr. declared during the Philippine Economic Briefing on 12 September 2023 in Dubai. The economic team visited the Middle Eastern country to discuss investment prospects in the Philippines, updates on the economy, the government’s spending priorities, fiscal and infrastructure programs, and recent reforms that further opened the economy to foreign investors. Around 80 senior executives representing investment funds, corporations, business associations and the media participated in the roadshow. Dakila said banks are well-capitalized with a capital adequacy ratio, or CAR, of 16.4 percent on a consolidated basis as of the end of last March, above the minimum thresholds set by the BSP and the Bank for International Settlements. Efficient funds conduit The Philippine banking system’s assets, deposits and profits also grew year-on-year by nine percent, eight percent, and 26.1 percent, respectively, in June this year. “Indeed, the country’s banking system continues to be an efficient and responsible intermediator of funds,” he added. BSP Assistant Governor Arifa Ala also highlighted the government’s efforts to promote Islamic finance, including the issuance of its first sovereign Sukuk or Shari’ah-compliant bonds, which can expand the Philippines’ engagement with Islamic financial markets. Sukuk are certificates that represent shares in the ownership of assets, services, projects, or investment activities. These are issued under Shari’ah principles. Speakers of the PEB in Dubai included Ambassador to the United Arab Emirates Alfonso Ferdinand Ver, Department of Finance Secretary Benjamin Diokno, Budget Secretary Amenah Pangandaman, National Economic and Development Authority Secretary Arsenio Balisacan, Standard Chartered regional head of global subsidiaries Shada Elborno, and MUFG Global Corporate and Investment Banking MENA chief executive officer Elyas Al Gaseer. The post Strong local banks buttress economy appeared first on Daily Tribune......»»