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SMC starts works on Pangasinan tollway
Food-to-infrastructure conglomerate San Miguel Corp. (SMC) has started the civil works for the Pangasinan Link Expressway (PLEX), laying the bedrock for a P34-billion project that would improve travel and tourism in Northern Luzon......»»
Cebu Landmasters FY23 profit: P4.6-B (up 29%)
Cebu Landmasters [CLI 2.85 unch] [link] teased its FY23 performance at an analyst briefing where it revealed full-year net income of P4.6 billion (up 29%) and total revenues of P18.8 billion (up 20%)......»»
Rama wants RPT revision complete by March
CEBU CITY, Philippines – Plans to revise the fair market value of properties in Cebu City, along with the adjustments in real property tax (RPT) calculations, should already be complete by March, Mayor Michael Rama said. Rama said that he has long communicated the need to already work on the matter to members of the Cebu.....»»
BPBL Season 2: Baby Webmasters complete dominant run, qualifies for national finals
CEBU CITY, Philippines — The University of Cebu (UC) Baby Webmasters will fly to Manila to represent Central Visayas in the Batang Pilipino Basketball League (BPBL) National Championships. This was after they defeated the equally determined University of Southern Philippines Foundation (USPF) Panthers-Sherilin, 72-63, in their 18-under championship match last Sunday evening, February 4, in.....»»
Buildrite Cup 2023: Tofil, Stopgap complete semifinals cast
CEBU CITY, Philippines — The semifinals cast of the Architects & Engineers Basketball Club (AEBC) Buildrite Cup 2023 is finally complete after Tofil and Stopgap beat their respective foes during their quarterfinals game held on Saturday, February 3, at the CPA gymnasium. Tofil defeated Floortek, 69-59, while Stopgap trounced Sapal, 66-43, in the other quarterfinals.....»»
IN PHOTOS: Balik Cebu 2024
Summary: The Balik Cebu 2024 event, hosted at the Terraces, Ayala Center Cebu, has been a prominent part of the Sinulog festival for 22 years. In collaboration with the Cebu City Government, Mactan International Airport Association, and other tourism stakeholders, it aims to welcome back balikbayans (returning Filipinos) for the grand Sinulog festival. The Balik Cebu Dinner Show offers balikbayans the complete Sinulog experience, featuring Filipino cuisine, performances by Cebuano artists, the Sinulog Mardi Gras, the presentation of Miss Cebu winners and her court, Tribu Basakanaon, and a band performance. Tickets priced at P500 can be purchased at the Balik Cebu Turista Desk by presenting a passport or proof of residence outside the Philippines. Balikbayans can also buy up to three additional tickets for non-balikbayans accompanying them. The event will take place at Ayala Center Cebu on January 18 at 6 PM. (SPONSORED CONTENT).....»»
New year, new sport: Resolutions to improve health and well-being
CEBU CITY, Philippines– As the calendar turns to a new year, many people set resolutions to improve their health and well-being. One exciting and fulfilling resolution is learning a new sport. Whether you’re a seasoned athlete looking for a fresh challenge or a complete beginner eager to dive into the world of physical activity, picking.....»»
Ando, Diaz fell short in Qatar Grand Prix
CEBU CITY, Philippines — The country’s top weightlifting bets, Hidilyn Diaz and Elreen Ando, came up short in their International Weightlifting Federation (IWF) Grand Prix II campaign in Doha, Qatar on Saturday, December 9, 2023. Diaz failed to complete her attempts, while Ando settled for 11th place in the women’s 59-kilogram division group A. .....»»
UV Baby Lancers complete Cesafi Junior final four cast
CEBU CITY, Philippines—The University of the Visayas (UV) Baby Green Lancers defeated the City of Bogo Science and Arts Academy (CBSAA) Trailblazers, 60-53, to complete the final four cast in the high school division of the Cebu Schools Athletic Foundation, Inc. (CESAFI) Season 23 Basketball Tournament on Saturday, November 25, at the Cebu Coliseum. The.....»»
Solo and proud: What are the benefits of staying single?
CEBU CITY, Philippines — There is a notion that life is made complete when you have somebody to share it with. But when you only have yourself, does it mean that there are lesser things for you to enjoy? The answer is no. The truth is some people are single by choice. Some individuals actually.....»»
BI reminds departing aliens to settle fees; arrests high-profile Korean fugitive
The Bureau of Immigration (BI) on Wednesday advised all foreign travelers who are leaving the country during the upcoming Undas holiday break to comply with their immigration departure requirements early to avoid unnecessary queuing at the airport on the date of their departure. BI Commissioner Norman Tansingco reminded registered foreigners who are studying, working, or living permanently in the Philippines that they can obtain their special return certificate (SRC) or re-entry permit (RP) prior to departure at any of the various BI's district, field, satellite, or extension offices nationwide. While foreign tourists who have stayed in the country for more than six months may also secure their emigration clearance certificates (ECC) before departure, Tansingco said securing the required permits early will decrease queueing time by half, as they will not have to line up at the BI’s airport cashiers anymore. The BI chief added that with the complete elimination of all COVID-related travel restrictions, the bureau is anticipating a spike in passengers at all international airports in the country, especially at the Ninoy Aquino International Airport (NAIA), this upcoming December, and this time they are also experiencing a big increase in the volume of New Year's Day travelers. During this peak season, the bureau reminded all travelers that other immigration services are also available online via the BI’s e-services portal at e-services.immigration.gov.ph. Tansingco shared that the bureau also has a one-stop shop (OSS) facility located at NAIA Terminal 3 in Pasay City, where departing aliens may also secure the said documents. He also reiterated previous reminders for passengers to arrive at least three hours prior to their flight and go straight to immigration after check-in. The BI is confident that its operations will be smoother this holiday season as it has deployed additional immigration officers and assigned a rapid response team as well as mobile counters for immediate deployment as necessary. Meanwhile, on Tuesday, 24 October, BI agents detained a South Korean wanted person who was allegedly part of a major narcotics ring that smuggled contraband into Korea from the Philippines. Commissioner Tansingco identified the suspect as Choi Sun Hyeok, a 56-year-old male who was arrested at his residence in Bgy. Lahug, Cebu City by the BI Fugitive Search Unit (BI-FSU) operatives. The BI-FSU operatives were armed with a warrant of deportation, which Tansingco issued pursuant to a summary deportation order that the BI Board of Commissioners issued against Choi in 2017. Tansingco said that Choi would be immediately deported to Seoul, South Korea after the bureau had secured the necessary clearances for his departure. According to the South Korean government, Choi was tagged as a high-profile fugitive, as he is believed to be a member of the so-called MS Alliance syndicate that facilitates the illicit transport of narcotics to Korea. A red notice for his capture was also issued by Interpol this year after an investigation confirmed that he was in the country. According to Interpol’s National Central Bureau (NCB) in Manila, Choi is the subject of a warrant of arrest issued by the Changwon District Court in Korea, where he is charged with violating his country’s narcotics control act. Investigators have also established that this year alone, Choi’s accomplices in the syndicate managed to smuggle into Korea more than 265 grams of methamphetamine by concealing the drug in their underwear. It was gathered that the passport of Choi, who will be committed to the BI detention facility in Taguig City, was already revoked by the Korean government, thus making him an undocumented alien. Choi's name was also placed on the BI blacklist to prevent him from re-entering the Philippines. The post BI reminds departing aliens to settle fees; arrests high-profile Korean fugitive appeared first on Daily Tribune......»»
Experience super-sized fun at SM’s 65th Anniversary this October
It’s October and it only means one thing at SM Super-Month! Suit up for some super-sized deals, treats, and fun as SM celebrates its 65th anniversary. Check out the month-long festivities filled with spectacular activities, immersive attractions, and unforgettable experiences that will leave you thrilled and excited. SM lights up the sky with Super Blue Illumination Signaling the start of SM’s 65th celebration, key malls and iconic landmarks will bathe in a brilliant shade of blue starting 1 October. A sight to behold and an event to watch out for, the Super Blue Illumination is a captivating display of dazzling lights that signify SM’s enduring legacy and commitment to bringing fun, awesome, and memorable malling experiences for over six decades. [caption id="attachment_191303" align="aligncenter" width="525"] SM MOA Globe[/caption] [caption id="attachment_191304" align="aligncenter" width="525"] SM City North Edsa[/caption] [caption id="attachment_191305" align="aligncenter" width="525"] SM MEGA Tower[/caption] [caption id="attachment_191306" align="aligncenter" width="525"] SM Aura[/caption] [caption id="attachment_191307" align="aligncenter" width="525"] SM Seaside City Cebu[/caption] [caption id="attachment_191308" align="aligncenter" width="525"] SM Makati[/caption] [caption id="attachment_191309" align="aligncenter" width="960"] Baguio Eye[/caption] [caption id="attachment_191310" align="aligncenter" width="960"] SM Lanang[/caption] It’s a shopper’s paradise with Super Buy 1 Get 1 Deals October isn’t complete without a month-long parade of super-sized deals and promos at SM Deals! Expect Buy 1 Get 1 Deals from your favorite dining, shopping and entertainment brands, extravagant discounts, exclusive bundles, and exciting freebies you can swipe to redeem in-store when you download and register on the SM Malls online app. And with a diverse range of brands and product offerings at SM, surely there's something for everyone in everyone’s shopping paradise. Indulge yourself with Super Treats Fun and frenzied October awaits as SM unleashes its Super Treats! On 15 October, indulge the movie buff in you as SM Cinema offers a Php 65 movie ticket deal and a Php 65 caramel popcorn combo. It’s truly a match made in cinema heaven! From 1 to 30 October, knock down pins all you want as SM Game Park and SM Bowling offer Php 65 off on unlimited bowling for one hour. For the skating aficionados, SM Skating will also be slashing off Php 65 on the all-day pass. And for the thrill seekers, you are in for a super treat! Have a whole day of wonder and excitement with a Php 65 entrance fee at Skyranch Tagaytay for all Mondays of October until 12 noon. Create core memories at the Super Play Spots Gather your squad and have fun at the Super Play Spots. With well-lit, Instagrammable areas, you'll have the perfect backdrop for your Super Month memories. These Super Play Spots promise hours of entertainment whether you're a social media maven or simply looking for a fun day out. Check out the Super Play Spots at SM Mall of Asia, SM Megamall, SM City North Edsa, SM Aura, SM Southmall, SM City Dasmariñas, SM Seaside City Cebu, SM Cagayan Downtown Premier, SM Lanang, SM City Clark, SM City Marikina, and SM City Iloilo. [caption id="attachment_191318" align="aligncenter" width="525"] Experience the magic of SM City Marikina’s Super Play Spot's Kaleidoscope Tunnel – a dazzling experience for family and friends of all ages![/caption] [caption id="attachment_191319" align="aligncenter" width="525"] Take your Instagrammable photos at SM Mall of Asia’s Super Play Spots.[/caption] Drive away in style at the Super Raffle Giveaway with VISA From 1 October to 30 November, eleven lucky shoppers can get a chance to drive away in style at SM’s Super Raffle Giveaway with VISA. All you need to do is to shop for a minimum single receipt purchase of Php 2,000 via tap to pay using your VISA card at participating SM Retail Stores in 75 SM Malls nationwide. Get a chance to win one of the six (6) brand-new Hyundai Stargazers and one of the five (5) brand-new Hyundai Cretas. These brand-new Hyundai cars will really make your daily commute a super experience so shop till you drop and maybe drive away with a new set of wheels! The post Experience super-sized fun at SM’s 65th Anniversary this October appeared first on Daily Tribune......»»
Balamban Fiesta Cup: Good Shepherd-Toledo City battles AC Troopers/Eversure Catmon for the crown
CEBU CITY, Philippines — The cast of the much-awaited championship of the Balamban Fiesta Cup 2023 Inter-Commercial Basketball Tournament is finally complete. This was after Good Shepherd-Toledo City eked out a hard-earned win against Tuburan 360 Coffee, 90-85, on Tuesday evening, September 19, 2023, at the Exasperanza Binghay Memorial Sports Complex in Balamban, midwest Cebu......»»
MVP eyes MPTC float by next year
After the voluntary delisting of his infrastructure investment firm Metro Pacific Investments Corp. or MPIC from the local bourse, businessman Manuel V. Pangilinan is now planning to offer the shares of his tollways venture Metro Pacific Tollways Corp. or MPTC to the public by next year. “After the delisting, we will list our tollways... next year. The Maynilad has got to list by 2026. We will list our major subsidiaries,” Pangilinan said in an interview with reporters on the sidelines of the Mining Philippines 2023 International Conference and Exhibition on Wednesday. MPTC is the operator of the North Luzon Expressway, Subic-Clark-Tarlac Expressway, Cavite-Laguna Expressway, Manila-Cavite Expressway, NLEX Connector, and Cebu-Cordova Link Expressway. On the other hand, Maynilad, MPIC’s joint venture with DMCI Holdings, and Marubeni Corp., serves the west zone of the Greater Metro Manila area, covering 17 cities and municipalities. Tender offer closed Relatedly, in a separate disclosure to the stock exchange on Wednesday, MPIC confirmed that the tender offer for its shares is now closed. The company report stated that the total of tendered shares, excluded shares, and other non-public shares is equivalent to 97.22 percent of MPIC’s total issued and outstanding listed shares and has exceeded the threshold required to complete the voluntary delisting. Once tendered shares are accepted and crossed, MPIC’s public float will fall to 2.78 percent. Its total tendered shares, excluded shares, and other non-public shares, on the other hand, will be above the voluntary delisting threshold of at least 95 percent. Thus, bidders can now expect MPIC’s delisting around October. The Cross Date is scheduled for 26 September, while the Settlement Date is scheduled for 28 September. Commenting on these MPIC developments, Pangilinan said: “It’s amazing that the acceptances have been more than 99 percent. What are the implicit messages of that, the times have moved on. My theory is that conglomerates are passe.” Pangilinan noted that companies are now focusing on their ventures that are easier and simpler to analyze with only one product. “Filipinos have a natural aversion to something big, that is why our stock exchange is too small. And because it’s too small it impinges on the issue of liquidity. Investors, even foreign investors, want to go in and be able to get out whenever they want to,” he explained. MPIC currently owns 47.5 percent of Manila Meralco, 99.9 percent of Metro Pacific Tollways Corp., 52.8 percent of Maynilad Water Services Inc., 20 percent of Metro Pacific Health Corp., and other assets. It is the Philippine arm of Hong Kong-based investment holding firm First Pacific Company Ltd. It has interests in tollways, water distribution and sewerage services, railways, hospitals, power generation, and distribution. The post MVP eyes MPTC float by next year appeared first on Daily Tribune......»»
Vivant unit to complete seawater desalination project
The water unit of listed Vivant Corp. is completing the country’s first and biggest utility-scale seawater desalination project in Cordova, Cebu by year-end to meet the potable water needs of the province......»»
Multiple developments rise in Mandaue City
Mandaue City continues to look to the future with multiple developments that will usher the city towards progress. [caption id="attachment_178460" align="aligncenter" width="1280"] LUXURY living in the center of Mandaue City.[/caption] Mantawi Residences Mantawi Residences is RLC Residences’ first premium development in Cebu. It is strategically located in Ouano Avenue and promises spacious and bright home-upgraded units, ranging from one to three bedrooms and penthouse suites. These units all come with loggia — an extended living space where soon-to-be homeowners can comfortably relax while appreciating the Cebu City skyline. Hyper-sized indoor and outdoor facilities are spread out in its 1.3 hectares of amenity area. These include beach-inspired swimming pools, landscaped areas, jogging trails, a pet park, a spa and indoor amenities including a game room, a work lounge and a private theater. Its ground floor will also house global brands and upscale dining areas. Metro Cebu Expressway The 56.9-km long Metro Cebu Expressway is expected to solve the traffic congestion within Metro Cebu. The South to North expressway is divided into three segments including the Minglanilla — Cebu City — Mandaue/Consolacion Bdry portion; Mandaue/Consolacion Bdry. to Danao City section; and Naga City — Minglanilla component. Once completed, MCE aims to ease the movement of people and commerce in Metro Cebu’s Central Business Districts and economic/export and tourism zones. Cebu Bus Rapid Transit Bus Rapid Transit, a bus service with dedicated routes traversing a 13.8-kilometer road, aims to decongest Cebu roads. Buses will run on a priority lane — one in each opposite direction — while the rest will be opened for mixed-use traffic. New Cebu International Container Port The New Cebu International Container Port will feature a berthing facility that can accommodate two 2,020-ft. equivalent unit vessels. Built on a reclaimed area in Consolacion, NCIP is seen to aid in flourishing local business with competitive prices and increase economic opportunities for residents once entirely constructed and operational. It is expected to ease the increasing volumes the Cebu International Port handles and enhance Visayas Region’s flow of goods and services. Premiere Waterfront Development by Global City Mandaue Corporation The Global City Mandaue Corporation is developing a 101-hectare premier waterfront project along the Mactan Channel. It will feature office spaces, malls, luxury retail options, hotels, resorts and restaurants. Cultural spaces like galleries, museums and libraries will also rise. Pocket parks, pathways and playgrounds will complete the vibrant lifestyle experience. The project had its groundbreaking in May of 2022. The post Multiple developments rise in Mandaue City appeared first on Daily Tribune......»»
Sky-high irony
Gokongwei-owned Cebu Pacific, a budget airline that always manages to raise eyebrows, has once again blessed us with a seat sale. Oh, how lucky can we be? The airline has hyped up anew its marketing mantra that “Every Juan flies,” only weeks after being forced during a congressional hearing to confront 3,000 complaints of irate customers over its endearing practice of overbooking flights and offloading passengers. To be obstinately hooked on the jingle of cash registers while ignoring the suffering of your paying customers takes a unique kind of expertise, of being able to remain deadpan and sleep at night through the turmoil of your aggravated passengers. For many of those who attended the hearings, Cebu Pacific only cares about the cold ca-ching of its cash registers. No doubt, the seat sale it resurrected last week would result in more passengers being kicked off flights. Overbooking and the accompanying forced passenger dumping, in Cebu Pacific’s vision of reality, well, there’s just a “slight chance” of that. That’s a joke, right? But no one’s laughing, as the joke is on us, the public. Let the sentence hang there for a while. “Slight chance,” they say in an entry on airlineratings.com, as though they’re talking about the prospect of seeing a rare unicorn galloping around the departure gate. But no, this is not about fantastical creatures; rather, it is about reservations piling up on a shaky table like a house of cards. It involves accepting the idea of reserved seating as merely a suggestion, a fun idea to play around with. That is if your idea of fun is being forced to reprise the role of Tom Hanks in the movie, The Terminal. Speaking of whimsical, have you ever heard of their brilliant response to situations in which appeals to “volunteers not to travel on their booked flights” fall on deaf ears? Cebu Pacific has your inconvenience covered, so do not be alarmed. They’ve cleverly reserved the power to refuse boarding to travelers “involuntarily,” or against their will, if involuntarily is not clear enough. This translates to passengers gnashing their teeth, pulling their hair, and tearing up their shirts all they want at CebuPac’s check-in counters, without any chance of boarding a flight for which they’d been sold “reserved” seats. However, let’s not limit our discussion to Cebu Pacific’s poetic handling of passenger interactions. Let’s explore the drama that occurred during the probe of the Senate Committee on Tourism. Senators turned their attention to the airline’s fervent devotion to overbooking as the cause of this comedy of errors, becoming unimpressed by the inventive justifications offered by the company for canceled flights and interminable delays. One senator related tales of suffering and annoyance from her own staff as well as from other passengers. Inevitably, as the hours passed, the hearing evolved into a “grief-sharing session.” People stepped up, spilling stories of delayed flights and canceled hopes. If you will, picture a traveler hoping to leave Tokyo but being compelled to crash on the chilly, hard floor of Narita International Airport. Her offense? Having faith in Cebu Pacific to deliver even the most basic amenities. Then there was the dentistry board exam that was almost missed. How about the flight to Cebu from Manila that was diverted to Busuanga and the haggling that followed to force Cebu Pacific to honor its “Passenger Rights” guarantee of free hotel accommodations? The cherry on top? While those who had been put through the wringer were left wondering how the airline’s priorities seemed to be joyously dancing in the skies, the examinee’s lucky aunt, all the way from Australia, managed to score a ticket for a lovely fee. The spokespersons of Cebu Pacific did, however, exhibit some artistic talent. Lightning strikes, bird crashes, and even runway debris were included in the gallery of “freak incidents” they presented as the causes of their errors. During the sleeper hearing, the way Cebu Pacific’s flight operations unfolded resembled an elaborate opera, complete with loud fights and dramatic exits, as if the cosmos had conspired to make it happen. But what was the highlight of Cebu Pacific’s ludicrous theater? Respect for the “Air Passenger Bill of Rights.” To pledge loyalty to rights that seem to exist only in the world of press releases is a truly great gesture. Amid this flying fiasco, passengers may wonder if they are only pawns in a much bigger game when the airline offers its earnest apologies, makes a few promises, and reveals plans for standby aircraft as if they were doing magic. So here we are, seeing the re-erection of Cebu Pacific’s circus tent of antics. Seat sale? Rubbish. The post Sky-high irony appeared first on Daily Tribune......»»
Converge building 3 new data centers for $60M
Fiber internet service provider Converge ICT Solutions, Inc. is investing $60 million to simultaneously build three new data centers in the country to serve the surge in data requirements. In an interview last week, Converge CEO and Co-Founder Dennis Anthony Uy said each site, which will likely be complete in the next two years, will have a maximum capacity of 1,000 racks. “We will build three data centers this year. We now have a site in Angeles, Pampanga, and Quezon City. Usually, they will have 600 racks per site and expandable to 1,000 and it will be within 18 to 24 months,” Uy said. Converge is currently building a P1-billion data center in Cebu with around 300 racks, which is scheduled to be complete by the third quarter of 2024. Data centers are facilities centralizing an organization's shared information technology operations and equipment to store, process, and disseminate data and applications. Since they house critical assets, data centers are important in sustaining the daily operations of a company. Despite the hefty investment needed for the new facilities, Uy said Converge is not yet planning to hold any fundraising activities. “We don’t have any new fund-raising activity, especially now interest rates are so high. We were just lucky to have secured financial support earlier,” he said. Based on the 2023 First Quarter market report by S&P Global Market Intelligence, the Philippines is poised to book a 13 percent compounded annual growth rate in data center operational space between 2020 to 2025. The positive projection was driven by the recent expansion of hyperscalers and significant interests of global enterprises in the country — placing the Philippines on a competitive footing with Indonesia, Malaysia, Thailand, and Vietnam. The post Converge building 3 new data centers for $60M appeared first on Daily Tribune......»»
CoA flags Barili town over inaccurate records
The Commission on Audit on Wednesday revealed that it has found some discrepancies on the financial statements of the municipality of Barili in Cebu province, citing its “inaccurate” computation of real property taxes and special education tax receivables, resulting into income loss to the government. State auditors said that the submitted 2022 Financial Statements for its Property, Plant and Equipment of the Barili LGU was doubtful and allegedly had unreliable records on road networks. It added that the town failed to conduct an inventory of its infrastructure assets, raising doubts on the existence, accuracy and completeness of items recorded in its PPE account. To recall, the Barili LGU has indicated that it had P343.52 million in PPE representing 70 percent of its declared assets of P489.01 million for 2022. PPE are government assets including land, land improvements, buildings, and other structures, machinery and equipment; transportation equipment; furniture, fixtures and books; leasehold improvements; and other PPE including specialist military equipment, infrastructure assets, and heritage assets. The CoA found deficiencies in the inventory process, including the non-updating of property and PPE ledger cards, and the non-issuance/renewal of acknowledgement receipts for equipment. CoA Circular 2020-006 mandates every local government unit to properly account for all PPE items by conducting physical count, as the PPE usually comprises the largest bulk of the municipality’s assets. The municipality claimed that it conducted a physical count of infrastructure but the inventory was unable to complete the inventory, but state auditors said that Barili’s road network amounting to P148.24 million was unreliable as it failed to separate the cost components of the road network, the non-computation of separate depreciation for each road component, and the error in providing a residual value since no residual value should have been provided. State auditors cited that the road lot component was not recognized and no inventory report was prepared, the local road network property card was not maintained and the LRN system was not disclosed in the Notes to Financial Statements. The CoA said that the Barili LGU violated CoA Circular 2015-008 and International Public Sector Accounting Standards 1 which affected the accuracy of the financial statements. The post CoA flags Barili town over inaccurate records appeared first on Daily Tribune......»»
2nd State of the Nation Address
Anti-inflation measures Crafting of Medium-Term Fiscal Framework supported by Congress Implementation of strategies to capacitate economic sectors Results (1) 7.6 percent growth in 2022 — highest rate in 46 years. (2) January to March 2023 — 6.4 growth percent (within 6 to 7 percent target) (3) Philippines considered to be among fastest-growing economies in the Asian region and in the world (4) Strong and stable financial system (5) Banks have strong capital and liquidity positions. (6) Digital economy contributed P2 trillion in 2022, the equivalent of 9.4 percent of our GDP. (7) World Bank projects a 6 percent overall growth rate due to strong local demand, consumer spending, strength from the BPO industry, steady flow of remittances, and continuing jobs recovery (8) Inflation rate eased up from 8.7 percent in January to 5.4 percent in June. (9) Bureau of Internal Revenue posted P1.05 trillion collections — an increase of almost 10 percent over the last year (10) Bureau of Customs increased collection by 7.4 percent for the first seven months of 2023, amounting to P476 billion. (11) PAGCOR increased collection by 47.9 percent (12) PCSO increased collection by 20 percent Reduction of prices of commodities like rice, meat, fish, vegetables and sugar Roll out of more than 7,000 KADIWA stores nationwide that link farmers with consumers, benefited 1.8 million families Agriculture Science-based methods toward food security Revision of Fisheries Code Unify 300 farm and fisheries clusters composed of 900 cooperatives Extensive technology training like the use of local bio-fertilizers Distribution of farm machinery, tools and inclement Distribution of more than 5 million rice seedlings and other crops Fuel at fertilizer discount vouchers Geo-Agri map of farm-to-market roads Irrigated 49,000 hectares of farmlands across the country. Constructed 4,000 additional fabrication labs, production at cold storage facilities Built 24 multi-species hatcheries to increase fisheries production Anti-animal pest monitoring, medicines, and vaccines Cloud seeding and buffer stocks in preparation for El Niño 70,000 agrarian land titles distributed Signing of EO No. 4. Or New Agrarian Emancipation Act the condoned P57-billion farmers’ loans Smuggling and hoarding Days of smugglers and hoarders are numbered Water Supply Creation of Water Resources Management Office Working for legislation of Department of Water Resource Management Allocated P14.6 billion for water supply projects Completion of Wawa Bulk Water Supply Project Phase 1 Installed 6,0000 rainwater collection systems across the country Infrastructure 8.3-trillion peso “Build, Better, More” Program in progress 194 flagship projects Continuation of “Build, Build, Build” projects Infrastructure spending stays at 5 to 6 percent of GDP 1,200-kilometer Luzon Spine Expressway Network Program will effectively connect Ilocos to Bicol from 20 hours to just 9 hours of travel Under Mega-Bridge Program, 12 bridges totaling 90 kilometers will be constructed including Bataan-Cavite Interlink Bridge and the Panay-Guimaras-Negros Island Bridges, and Samal Island-Davao City Connector Bridge As of June 2023, 4,000 kilometers of roads and 500 bridges have been constructed, maintained and upgraded Completed Cebu’s Pier 88 smart port, new passenger terminal buildings of Clark Airport and Port of Calapan. North-South Commuter Railway System now in full swing Strategic financing Enactment into law of Maharlika Investment Fund Social security Funds for the social security and public health insurance intact and separate Energy and Power Generation Price of crude oil stabilized Since last year, gasoline and diesel prices have gone down by 18 to 29 percent, respectively. Built 8 new additional power plants, bringing to 17 the total number of power generation facilities Energy production increased by 1,174 megawatts. Almost half a million homes given access to electricity; 100 percent household electrification by June 2028 Renewable energy is the way forward Promotion of renewables targets 35 percent share in the power mix by 2030, and 50 percent by 2040 Opened renewable energy projects to foreign investments Since last year, an additional 126 renewable energy contracts with potential capacity of 31,000 megawatts awarded. To date, more than 1,000 active projects all over the country — 299 are solar, 187 are wind, 436 are hydroelectric, 58 are biomass, 36 are geothermal, and 9 are ocean-powered. Malampaya project is boon, energizing 20 percent of Luzon; renewal of the contract guarantees continued revenues and energy production for another 15 years Push for more gas exploration in other parts of the country Partnered with the BARMM in regard to energy exploration and development The Philippines now has a Unified National Grid with the interconnection of the Luzon, Visayas and Mindanao grids “One Grid, One Market” will enable more efficient transfers and more competitive pricing of electricity Performance review of National Grid Corporation of the Philippines to complete all of its deliverables, starting with the vital Mindanao-Visayas and Cebu-Negros-Panay interconnections. Social welfare Enough funds for underprivileged DSWD, DoLE, DepEd, TESDA and CHEd involved in providing assistance Programs like AICS, TUPAD, TVET for Social Equity, Social Pension for Indigent Senior Citizens, Cash-for-Work for PWDs, and Integrated Livelihood Program-Kabuhayan available for indigents Social protection Pension of the military and the uniformed personnel is as important, urgent, and humanitarian as that of all other civilian Filipino employees Working closely with Congress to ease the transition from the old system to the new one, to guarantee that no effects are felt by those in the uniformed services. The post 2nd State of the Nation Address appeared first on Daily Tribune......»»