Quarantine enforcement chief reports dummy accounts of himself
“These people have their own respective motives but what they do is plain and simple criminal act because it falls under identity theft which is punishable by our laws,” Eleazar said in a statement to reporters. .....»»
LTO asks Facebook: Remove accounts offering online assistance
Land Transportation Office chief Vigor Mendoza II has ordered the LTO’s legal department to coordinate with Facebook Philippines in taking down accounts that offer online assistance for driver’s license and motor vehicle registration transactions......»»
Over 33-K security personnel for Pasko Fiesta 2023
Over 33,000 security and safety personnel have been deployed for the month-long 2023 Pasko Fiesta celebration in Davao City. The Chief of Davao City's Public Safety and Security Office (PSSO), Angel Sumagaysay, announced that a total of 33,672 integrated security and safety personnel will be involved in the annual Christmas festival. The deployment will begin on November 28, 2023, and continue until January 1, 2024. The Davao City Police Office (DCPO) alone accounts for 9,862 personnel, with 4,731 being police officers and the rest consisting of police auxiliary and force multipliers. The security plan was established well in advance to anticipate various events throughout the celebratory month. The spokesperson for the DCPO, PCap. Hazel Tuazon, urged the public to actively participate, witness, and cooperate with law enforcement while adhering to the culture of security. She also reminded everyone to follow safety and security guidelines, such as refraining from carrying backpacks and firearms or deadly weapons, to ensure a peaceful celebration of Pasko Fiesta. The month-long festivities will commence on November 28 and conclude on December 31 with the Paghinugyaw.....»»
Public warned vs fake Nartatez social media accounts
The National Capital Region Police Office warned the public on Friday against fake social media accounts using the name and photos of NCRPO chief Brig. Gen. Jose Melencio Nartatez Jr......»»
2 Koreans wanted for telecom, wire fraud arrested
Two fugitives were captured by the Bureau of Immigration (BI) after being sought by South Korea and the US for their involvement in fraud-related operations. BI Commissioner Norman Tansingco confirmed the arrests of the two South Korean fugitives, who were identified as Kwon Junyoung, 38, and Seok Jongmin, 48. The two were arrested last Saturday in Brgy. Cuayan, Angeles City, Pampanga, by the BI Fugitive Search Unit (BI-FSU) operatives. Tansingco said that the operation was conducted in collaboration with the South Korean authorities, government intelligence groups, and the Angeles City Police Station. According to the South Korean authorities, Kwon is wanted for telecommunications fraud in South Korea, while Seok is wanted in Texas for engaging in wire fraud, money laundering, and identity theft. The BI chief said that as the BI board of commissioners has already issued summary deportation orders against them, soon they will be deported to face the crime they committed. Tansingco added that their names were also placed on the bureau’s blacklist of undesirable aliens, so they are now banned from re-entering the Philippines, the BI chief added. According to information obtained from Interpol's National Central Bureau (NCB) in Manila, the Suwon District Court in Korea issued an arrest order for Kwon on 12 December 2019. Authorities claimed that Kwon was part of a telecom fraud syndicate operating in Dalian, China, that used voice phishing to call random victims. Based on reports, the callers impersonated investigators from the Seoul Central Prosecutor's Office in order to harass the victims and trick them into transferring money to the syndicate's accounts. In contrast, the NCB revealed that Seok is the subject of an arrest warrant issued by the US district court in Western Texas. He is accused of conspiring to commit wire fraud, three counts of wire fraud, conspiring to commit money laundering, and three counts of aggravated identity theft. Seok is accused of working with other suspects to gain access to the websites of the US Departments of Defence and Veterans Affairs using thousands of US military veterans' stolen personal identification information (PII), depriving the victims of their benefits. The BI-FSU also reported that Seok was arrested after posting bail at the Angeles City regional trial court, where he was charged with robbery and extortion, and will be transferred to the BI’s facility in Bicutan, Taguig. While Kwon will remain in the custody of the Angeles City police due to his ongoing local case, he will continue to be under the BI’s legal custody for deportation proceedings. The post 2 Koreans wanted for telecom, wire fraud arrested appeared first on Daily Tribune......»»
Observe ‘cyber hygiene,’ judicial personnel urged
The Supreme Court has directed all judiciary officials and personnel to strengthen the courts’ cybersecurity measures to protect sensitive data and minimize the risk of cyber threats. Acting Chief Justice Marvic M.V.F. Leonen issued the directive as Chief Justice Alexander G. Gesmundo is on official travel abroad, citing the recent data breach involving the Philippine Health Insurance Corporation or PhilHealth. In Administrative Order 150-2023 on “Proper Cyber Hygiene in Judiciary,” the SC said, “One of the most common ways of ransomware attacks is done through phishing emails, which usually contain malicious links or attachments.” The SC warned, “Do not open these links or attachments unless they have been verified to be legitimate.” Court officials and employees were advised to examine carefully the sender’s email address to avoid being victimized. “Phishers often use email addresses that look similar to ones used by legitimate organizations but may have small misspellings or inconsistencies. Always take a close look at the sender’s display name when checking the legitimacy of an email,” the SC said. Court officials and personnel were also instructed to protect personal information and double-check email attachments by scanning the same for viruses. On password security, the SC suggested that “under no circumstances should judiciary personnel use personal information and dictionary words in creating passwords.” Judiciary officials and employees were also urged to use a longer password containing numbers, symbols, and both uppercase and lowercase letters; to avoid the same password for multiple accounts; to consider passphrases or a sequence of random words instead of passwords; to use a password manager; and to enable a multifactor authentication system in their accounts. They were advised never to share their passwords with others, even those who claim to be from trusted institutions, and to ensure that any written passwords are stored securely. In protecting important files and ensuring their recovery in case of data loss, the guidelines recommend that court officials and personnel follow the “3-2-1 backup rule” to ensure data redundancy and availability in case of hardware failure, data corruption, or other catastrophes. The rule requires users to keep three copies of their data on two different media types, with one copy stored offsite. The post Observe ‘cyber hygiene,’ judicial personnel urged appeared first on Daily Tribune......»»
Senate OKs bill giving DTI chief power to take down online sellers, e-commerce websites
The bill arms the Department of Trade and Industry (DTI) secretary with the power to issue takedown orders on websites, webpages, online applications, social media accounts or "other similar platforms" found engaging in or abetting illegal online transactions......»»
Trafficking victims have to pay for freedom
The Bureau of Immigration reported that a male trafficking victim was repatriated on 22 September after being forced to work as a scammer for a Chinese company in Myanmar. The authorities identified the victim as “Gio,” 33 years old. He left the country in September 2022 with two other friends, claiming that they were merely traveling to Thailand for a vacation. However, the victim admitted that after his repatriation, he was recruited by a certain “Liza” whom he met on Facebook and was lured to work as a customer service representative. He was promised a salary of up to P100,000 per month. Gio said that his recruiter asked him to pay P20,000 for his travel expenses, which were deducted from his salary. He added that after arriving in Thailand, he was transferred to Myawaddy, Myanmar southeast of the country and close to the border with Thailand. According to Gio, he was forced to work as an online love scammer by attracting foreign victims to invest in pseudo-cryptocurrency accounts. He received a salary of P60,000 a month for six months, far from what was promised to him by his recruiter. He was only able to go back home after collecting P200,000 from his friends and family to pay his company for his release. BI Commissioner Norman Tansingco said that the same modus has been observed since last year, and victims are often promised high salaries but end up in debt. As early as October 2022, the BI chief had already sounded the alarm on the modus targeting Filipinos to work for companies that operate online scams such as catfishing. Tansingco added that this is a case of double trafficking, wherein the victims are trafficked by making them agree through false promises, and then they will be forced to be part of a scamming syndicate, making it hard for them to seek help and repatriation. The National Bureau of Investigation and the Overseas Workers Welfare Administration provided assistance to the victim. The post Trafficking victims have to pay for freedom appeared first on Daily Tribune......»»
Fools in suits
When a ranking Department of Agriculture official was asked in a recent Congress hearing what steps the agency had taken to break the rice cartel, he replied that he did not believe that a “mafia” existed. Coming from a high DA official, the statement revealed that nothing was being done to stop the syndicate that everyone in the industry knows about since, to the authorities, it does not exist. In the reenacted Anti-Agricultural Smuggling Act of 2016, smuggling, hoarding, profiteering, and forming cartels for agricultural and fishery products are considered economic sabotage and are non-bailable offenses for which a long jail term could be meted out. The strengthened law, however, lacks strong teeth against government officials who are in cahoots or protect the syndicates. Contained in the proposed bill is a provision indicating that any government officer or employee found to be an accomplice in the commission of the crime will “suffer the additional penalties of perpetual disqualification from holding public office, exercising the right to vote, from participating in any public election, and forfeiture of employment monetary and financial benefits.” The bill is pending in both houses of Congress. With the slow grind of justice in the country, a public official looking for a fast buck will not hesitate to risk his job in exchange for a huge payback. The recent series of events showed the markets are being manipulated by the big players in the sugar, vegetable and rice businesses. These syndicates are known to be deeply entrenched due to their connections with government bigwigs who facilitate their domination of the markets either through edicts or the use of public resources. In the most ridiculous situation, the recent spike in onion prices was found to be artificial since farmers were even throwing away their harvests because of low farmgate prices, thus there was no reason for prices to surge. Later, it was exposed in a congressional hearing that a cartel had succeeded in manipulating the onion market to create a condition that would require its importation, from which its members would make a killing. The warehouse and storage facilities are controlled by the mafia which makes it easy to create artificial conditions to which the market reacts by raising retail prices. The ultimate goal is to coax the government to allow importation from suppliers in overseas markets that are also flooded with the commodity, The cartel rakes in profits from both the high markup and the kickbacks from the overseas suppliers desperate to sell their surplus. The woeful victims are the Filipino farmers whom the cartel boxes out of the market. In extreme cases, these farmers just throw away their harvest since they cannot afford to transport their products without the middlemen who are also in the pocket of the cartel. The same goes for the rice industry, where the market was manipulated for a different reason, which was to kill the rice tariffication law that kicked the National Food Authority out of the import business. Rice prices then surged to as high as P56 a kilo, which pushed President Ferdinand Marcos Jr. to impose price ceilings. The NFA used to have a monopoly on importation, but that resulted in acrimonious confrontations at the apex of government. The tariffication law, in turn, opened importation to all grain traders and relegated the NFA to buying rice from local farmers. Under the new anti-smuggling bill which has the endorsement of Mr. Marcos, an Anti-Agricultural Economic Sabotage Council headed by the President or his designated permanent representative will be formed. The proposed body will have the power to investigate and file charges, as well as freeze violators’ funds, properties, bank deposits, placements, trust accounts, assets and records. The creation of the body looks good on paper but in the real world, it might just add another layer of bureaucracy and source of corruption unless the cartel, which DA officials claim does not exist, is dismantled. Chief Presidential Legal Counsel Juan Ponce Enrile has a simple solution for breaking the cartel, which is for the government to confiscate all the rice overstock and let the owners of the warehouses prove that their huge inventory is legitimate. Such a move would prompt the traders to release more rice into the market to avoid confiscation. The imposition of the price cap on rice indicated that the prices are artificial since the markets are now selling at lower than the manipulated prices despite conditions being constant. An expected bumper harvest is also prompting the prices to go back to normal, after the attempt of the cartel to create a price shock to support their effort to return to the old ways. To know the real situation, President Marcos goes out of his way to see what is on the ground. His underlings, particularly at the Department of Agriculture, should do better. The post Fools in suits appeared first on Daily Tribune......»»
Trafficking victim pays P200K for freedom
The Bureau of Immigration reported that a male trafficking victim was repatriated on 22 September after being forced to work as a scammer for a Chinese company in Myanmar. The authorities identified the victim as "Gio", 33 years old. He left the country in September last year with two other friends, claiming that they were merely traveling to Thailand for a vacation. However, the victim admitted after his repatriation that he was recruited by a certain "Liza" whom he met on Facebook. Liza offered him a customer service representative job with a monthly salary of up to P100,000. The victim admitted to accepting the offer. Gio said that his recruiter asked him to pay P20,000 for his travel expenses, which were deducted from his salary. He added that after arriving in Thailand, he was transferred to Myawaddy, Myanmar, which is close to the border of Thailand. According to Gio, he was forced to work as an online love scammer by attracting foreign victims to invest in pseudo-cryptocurrency accounts. He received a salary of P60,000 a month for six months, far from what was promised to him by his recruiter. He was only able to go back home after collecting P200,000 from his friends and family to pay his company for his release. BI Commissioner Norman Tansingco said that the same modus has been observed since last year, and victims are often promised with high salaries but end up in debt. As early as October 2022, the BI chief had already sounded the alarm on the modus targeting Filipinos to work for companies that operate online scams, such as catfishing. Tansingco added that this is a case of double trafficking, wherein the victims are trafficked by making them agree through false promises, and then they will be forced to be part of a scamming syndicate, making it hard for them to seek help and repatriation. The National Bureau of Investigation and the Overseas Workers Welfare Administration provided assistance to the victim. The post Trafficking victim pays P200K for freedom appeared first on Daily Tribune......»»
Trafficking victim pay P200K for freedom
The Bureau of Immigration reported that a male trafficking victim was repatriated on 22 September after being forced to work as a scammer for a Chinese company in Myanmar. The authorities identified the victim as "Gio", 33 years old. He left the country in September last year with two other friends, claiming that they were merely traveling to Thailand for a vacation. However, the victim admitted after his repatriation that he was recruited by a certain "Liza" whom he met on Facebook. Liza offered him a customer service representative job with a monthly salary of up to P100,000. The victim admitted to accepting the offer. Gio said that his recruiter asked him to pay P20,000 for his travel expenses, which were deducted from his salary. He added that after arriving in Thailand, he was transferred to Myawaddy, Myanmar, which is close to the border of Thailand. According to Gio, he was forced to work as an online love scammer by attracting foreign victims to invest in pseudo-cryptocurrency accounts. He received a salary of P60,000 a month for six months, far from what was promised to him by his recruiter. He was only able to go back home after collecting P200,000 from his friends and family to pay his company for his release. BI Commissioner Norman Tansingco said that the same modus has been observed since last year, and victims are often promised with high salaries but end up in debt. As early as October 2022, the BI chief had already sounded the alarm on the modus targeting Filipinos to work for companies that operate online scams, such as catfishing. Tansingco added that this is a case of double trafficking, wherein the victims are trafficked by making them agree through false promises, and then they will be forced to be part of a scamming syndicate, making it hard for them to seek help and repatriation. The National Bureau of Investigation and the Overseas Workers Welfare Administration provided assistance to the victim. The post Trafficking victim pay P200K for freedom appeared first on Daily Tribune......»»
AboitizPower buys back shares amid PSE slump
Aboitiz Power Corp., or AboitizPower, purchased 11.407 million of its shares as part of its buy-back program as of the 19 September closing. The company said the move was needed to “create further shareholder value” as its current share price range fails to reflect the value of the company. As the shares are undervalued due to the poor state of the market, the buyback is expected to inspire investors to look at the real value of the shares. “Even with this stock buy-back program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” the company said. The Philippine Stock Exchange or PSE, however, announced AboitizPower, the listed investment arm of the Aboitiz Group for energy-related ventures, will be dropped from the index of bellwether shares by next week. In a memorandum dated 20 September, PSE president Ramon Monzon confirmed AboitizPower’s removal from the index will be effective starting 26 September. This developed even after AboitizPower committed not to exit the index amid speculations that the company may opt to delist after its public float fell below the required threshold. Based on the new rules governing the PSE, all companies in the local bourse indices are required to maintain a minimum public float level of 20 percent. AboitizPower chief executive officer Emmanuel Rubio also conveyed that the company, which accounts for one out of every five megawatts or MW of installed capacity in the Philippines, is still in a strong position to create long-term shareholder value. “With a pipeline of about 1,000 MW of new renewable energy capacity, we are well on our way to contributing an additional 3,700 MW of clean electricity,” Rubio said. During the first half of the year, the company reported that it logged a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. During the second quarter alone, the company’s net income reached P10.3 billion, 46 percent higher than last year’s P7 billion. AboitizPower’s generation and retail supply businesses recorded earnings before interest, taxes, depreciation, and amortization or EBITDA of P30.2 billion during the first six months. The EBITDA, used to measure a company’s financial health and ability to generate cash, was 31 percent higher than the P23.1 billion recorded in the same period last year due to “fresh contributions” from GNPower Dinginin. From the start of the year until the end of June, AboitizPower said its capacity sold increased by 25 percent to 4,718 MW from 3,785 MW a year ago. The post AboitizPower buys back shares amid PSE slump appeared first on Daily Tribune......»»
Ombudsman vindicates (2)
The Ombudsman was correct in his unsolicited recommendation that Audit Observation Memorandum or AOMs should not be published to prevent prejudging those involved. But AOMs with biased, political undertones and color, if released within a conspired time frame and raising issues as critical as huge Department of Health or DoH money intended to combat Covid-19 being stolen, can cause a rebellion. More than ever, these justify graft buster Martires’ anger over the publication of AOMs. Amazingly, this scenario reappeared with an almost repeat performance by the same personalities like the lady who poured out her tears over the plea bargaining agreement, Heidi Mendoza, who suddenly appeared from nowhere crying again and asking everyone to pray for the soul of her colleague, UN Auditor, Atty. Jake Cimafranca, who worked hard on the DoH report, died of a heart attack. She posted about it in time for Cimafranca’s burial. Also suddenly appearing was Grace Pulido Tan of the “kahindik-hindik (hideous)” PDAF audit report, echoing the same statement of her tandem Heidi that the release of the DoH audit report was regular and not premature. Astonishing everyone, including CoA state auditors, was the rebuff by no less than CoA Chair Michael Aguinaldo of the directive of President Duterte telling him to audit the Philippine National Red Cross. He said the CoA needed more authority to audit the PNRC. State auditors were shocked by the answer of their chief to a presidential order. Something must be cooking. And there emerged the resounding call for an immediate investigation by the senators of the Republic on the DoH’s P67.32- billion fund intended to fight Covid-19. Soon, the call for an inquiry sounded worldwide. The internet showed news flashes in the world’s capital cities of allegedly massive Department of Health funds of the Philippines intended to protect the people of the archipelago from the onslaught of Covid-19 being stolen. But former fiscal and President Rodrigo Duterte could not be intimidated. “Pure bullshit”: Duterte says CoA-flagged DoH funds not stolen. Duterte tells Cabinet secretaries to ignore CoA reports: “Nothing will happen there.” All probes against DoH “can continue,” Palace says after Duterte scores CoA. In effect, Fiscal Digong was saying, you can go on with your investigation. Catch the crooks, but do not hinder government efforts to provide our people with the supplies they need to protect them from Covid-19. Here is how it all started. The annual audit report on the accounts and financial operations of the Department of Health for the calendar year ending 31 December 2020 disclosed, among other things, the following most significant observations contained in one of the collections of AOM released as an annual audit report on 11 August 2021: “1. Various deficiencies involving some P67,323,186,570.57 worth of public funds and intended for national efforts of combatting the unprecedented scale of the Covid-19 crisis were noted. These deficiencies contributed to the challenges encountered and mixed opportunities by the DoH during the state of calamity and national emergency and cast doubts on the regularity of related transactions. “We requested that the SoH (Secretary of Health) implement the recommendations contained in the Consolidated Management Letter on the audit of Covid-19 funds for the year ending 31 December 2020 and submit a status report on the actions taken on the audit recommendations stated therein.” On 11 August 2021, the preceding observation was reported by a local stream media as a blazing headline: “CoA finds DoH lacking in managing P67.32-B Covid funds.” “The Commission on Audit found deficiencies in how the Department of Health managed the P67.32 billion fund to fight the Covid-19 pandemic, adding that it contributed to challenges that the country faced during the crisis. “CoA’s annual audit report for DoH in 2020 revealed that the deficiencies are caused by non-compliance with pertinent laws and regulations, which led to missed opportunities for the department primarily tasked with managing the pandemic.” (To be continued) The post Ombudsman vindicates (2) appeared first on Daily Tribune......»»
Sovereign shame
The government should recognize the possibility that Chinese workers in the country are committing espionage amid the escalating territorial friction in the West Philippine Sea. Defense Secretary Gilbert Teodoro raised the alarm, saying employees of mainly Chinese state firms may be engaged in potential “covert economic and information activities,” including propaganda operations, to sway public opinion in favor of the mainland. Among the workers on the watchlist are “the ones hired by Beijing’s state-run enterprises involved in public infrastructure projects,” according to Teodoro. The Department of National Defense said it is looking into clandestine dealings “happening in the background.” “It’s the activities that we cannot see… that’s what alarms us,” the defense chief said. “The best way to weaken a country, rather than by an overt warlike function or disruption of [its] facilities, is really to take control of [its] internal economy, internal processes, and the like,” Teodoro pointed out. The records of Chinese migrants in the country are inadequate based on previous Senate hearings. No government agency was able to provide the Senate, for instance, with an accurate number of illegal Chinese workers, indicating that they are not being monitored. Labor agencies have also failed to keep track of how many foreign workers are in jobs that, by mandate of the Constitution, should be for Filipinos only. Under the law, foreigners are only allowed to work in jobs that require highly specialized skills and where no Filipinos are deemed competent to do them. During the Senate probe, it was also discovered that as many as 119,000 Chinese nationals who came to the country as tourists are now residents and have jobs in violation of labor regulations. Chinese tourists, through some “gainful” means, were able to obtain special work permits from the Bureau of Immigration. They now work in very diverse areas such as Metro Manila, Clark, Subic, Cagayan and Cagayan de Oro. In one of the inquiries, a Department of Labor and Employment official explained that the special permits were issued without the need for an Alien Employment Permit, or AEP, because the nature of the employment was temporary, lasting from three to six months. The loose process, thus, has allowed foreign workers to enter the country practically unbridled. Senators questioned the discrepancy between the AEPs issued and the number of Chinese workers in the country. Independent sources said that as many as 200,000 to 400,000 Chinese workers are in the country. Four different agencies issue different permits that make the situation worse. The biggest insult by China is that its propaganda work against the Philippines and other opponents in the territorial conflicts is done in this country. Facebook recently removed two networks of fake accounts that were spreading government propaganda, one originating in China and the other in the Philippines. Taken down were 155 Facebook accounts, 11 pages, nine groups and seven Instagram accounts traced to China, and 57 accounts, 31 pages and 20 Instagram accounts based in the Philippines. Such operations breach Facebook’s rules against “coordinated inauthentic behavior on behalf of a foreign or government entity.” The Chinese network used faces created through an AI technique known as GANs (Generative Adversarial Networks). Facebook was able to trace the origins of the accounts because of their visual signatures. “This form of AI is readily available online, and its use (or abuse) by covert operations has exploded in the last year,” according to a report on the social media platform. Identified were a dozen GAN-generated images from the Chinese propaganda operation. Teodoro, who has access to a wealth of information, in revealing the supposed operations being conducted by the Chinese in the country’s backyard, virtually confirmed the problem has reached alarming proportions. It would be easy for the government to keep track of foreign workers if only the appropriate agencies would resist the seduction of human smuggling. In accepting bribes to let the aliens skirt the law, these officials and functionaries have placed our national security at risk. The post Sovereign shame appeared first on Daily Tribune......»»
Floods wiped out quarter of Greek farm produce: experts
A quarter of Greece's annual agricultural production was wiped out in last week's deadly flash floods triggered by Storm Daniel, which drenched the central region of Thessaly, according to experts. The floods, which killed 15 people, have also left thousands of people in temporary shelters in hotels, schools or with relatives while 30 villages were inaccessible amid the threat of waterborne diseases. Officials were trying to determine if a body found on a beach in Pelion, central Greece, was that of an Austrian missing with his wife since last week. As government officials began the daunting task of mapping the damage dealt to the plain that feeds much of Greece, one pressing need was to dispose of tens of thousands of decomposing farm animals. Out of over 110,000 dead sheep, goats, pigs, cows and chickens reported lost by farmers, fewer than half have been buried or incinerated, officials said. Inspection crews were still unable to reach half the areas with reported dead livestock, the agriculture ministry said Wednesday. "The damage is difficult to fully assess at the moment, but according to the most optimistic scenario, 70 percent of the cotton crop and almost all of the clover has been damaged," said farmer Athanasios Karaiskos, president of the farm cooperative of the town of Farsala. Health hazard The region's apple and kiwi productions have also been hit, while warehouses storing large quantities of wheat were flooded. Some parts of Thessaly received "an astonishing 910 millimeters (three feet) of rain" more than a year's rainfall in normal conditions, said Katerina Kasimati, an agriculture engineer at the Agricultural University of Athens. "These floods caused nearly 25 percent of the year's crop production to be lost, amounting to losses in the hundreds of millions of euros," she told AFP. Commonly called 'the Plain' in Greece, Thessaly accounts for nearly a third of the country's arable land and over 18 percent of its crops. "Farmers and particularly livestock breeders are in a state of panic," said Christos Yannadakis, vice-president of the union of Greek farm cooperatives. In addition to knocking out power and flooding roads and infrastructure, the floodwater carries pesticides and waste from both farms and urban areas. The health ministry has reported dozens of cases of gastroenteritis, warning residents in several areas that tap water was still not suitable for drinking or showering. The fire department has rescued over 4,500 people from flooded areas. Seven villages are still stranded, the government said this week. Transport links hit The heavy rains and flooding followed devastating fires in Greece this summer that killed at least 26 people, most of them migrants trapped in a forest near the northeastern border with Turkey. In Strasbourg this week to discuss the issue with EU chief Ursula von der Leyen, Prime Minister Kyriakos Mitsotakis said Greece faced a "catastrophe of immense proportions". It was, he said, "beyond" the government's "scale of prediction and comprehension". The EU said Greece could access 2.25 billion euros in pending and additional funds for reconstruction. A part of the Athens-Thessaloniki national highway in central Greece is under water. Serious damage to the rail network will take months to repair, Panayiotis Terezakis, managing director of the Hellenic Railways Organisation, told Star TV. "The initial tally for all the damage dealt to the Thessaly rail network is 150-160 million euros," he said. Rail services from Athens to Thessaloniki in the north will likely be restored in a month, Terezakis said. For the national highway, Deputy Infrastructure Minister Nikos Tachiaos on Wednesday admitted: "There is nothing we can do. We cannot drain the waters and dump them on the plain because the water is coming from the plain... we have to wait for the natural flow," he told state TV ERT. Government under fire Mitsotakis' government, which comfortably won reelection in June, has come under fire for failing to adequately prepare after major flooding caused by a hurricane-like storm dubbed Ianos in 2020. "Millions of euros were spent on flood prevention after Ianos and three years later, Thessaly is again plunged in water and mud," the main opposition Syriza party said. The liberal Kathimerini daily over the weekend said the prime minister had put "lightweights" in key cabinet posts and urged him to "get serious". Mitsotakis is rumored to be planning a cabinet reshuffle, having already replaced two ministers since his re-election. A judicial investigation has been opened into possible failings by public officials in dealing with the storm. The post Floods wiped out quarter of Greek farm produce: experts appeared first on Daily Tribune......»»
Beauty takes the spotlight
Beauty enthusiasts were drawn to a “new light” on the night of 7 September as Rustan’s The Beauty Source, the Philippines' foremost destination for opulent beauty, proudly introduced its annual Beauty Addict event. “See Beauty in a new light” came the invitation, and the retail hub renowned for curating the world’s most prestigious beauty brands in makeup, skincare, fragrance and personal care products, welcomed guests to its revamped Beauty Hall. The transformed space boasts of world-class interiors and cutting-edge retail architecture, providing the perfect backdrop for the most coveted and luxurious beauty brands. The occasion raised the bar for luxury retail and reaffirmed Rustan’s dedication to only choose the best products for its affluent customers. Excitement meets elegance The big day welcomed luxury beauty brands, such as CHANEL, Clarins, La Prairie, Anastasia Beverly Hills, Tom Ford, MAC, La Mer, Clé de Peau Beauté, Shiseido, Hermes, Diptyque, Maison Francis Kurkdjian, L’Occitane, Grown Alchemist, Malin+Goetz, L:a Bruket and many more. The ribbon-cutting ceremony was graced by Rustan’s chief executive officer Zenaida Tantoco, president Donnie Tantoco and executive vice president Anton Huang, accompanied by the radiant Miss Universe 2018 Catriona Gray. The evening was further elevated with captivating performances by the Halili Dance Group and the Manila String Machine Orchestra, with Bea Tantoco. As the night unfolded, guests reveled in a special afterparty with live music from Renee Dominique and renowned local DJs. The open dancefloor beckoned, while the champagne bar, sponsored by the Philippine Wine Merchants, and delectable hors d’oeuvres by Margarite Forés ensured a night to remember. Exclusive beauty gifts and selfie contest For the early birds, a prized two-sided Beauty LED Compact Mirror was given away to the first 100 visitors at Rustan’s Beauty Hall. With LED lights that mimic sunlight, this attractive mirror has both conventional and magnifying mirrors. Sharing event selfies on social media accounts qualified the selfie-savvy participants for the competition, which gave the chance to win the prized “Best Selfie Award,” which came with a hefty P10,000 Rustan’s The Beauty Source shopping spree. Glamour all the way to November From 8 to 17 September, Rustan’s offered a one-week promotion with exclusive discounts and rewards to keep its customers happy. With the Beauty Addict Holiday Gift with Purchase promotion, which is active until 30 November, Rustan’s continued the celebration throughout the holiday season. A Kate Spade New York Make It Pop Floral Jewelry Box was given out to Beauty Addict members with a minimum purchase. Rustan’s introduced the Beauty Addict Holiday Raffle, with the big prize being a three-night vacation for two in the romantic city of love — Paris, France — to heighten the anticipation. The winner will also receive KrisFlyer miles from Singapore Airlines to use on a Business Class Saver Award ticket to Paris, France. Every P2,500 spent at Rustan’s Beauty Source rewarded Beauty Addict members one entry into an electronic drawing. Every Metrobank card transaction give cardholders two entries. Promo ends 30 November. The post Beauty takes the spotlight appeared first on Daily Tribune......»»
UBS’s Credit Suisse takeover, ‘deal of the century’?
Did banking giant UBS make "the deal of the century" when it bought one of the world's biggest banks for a pittance as it teetered on the edge of the abyss? Switzerland's largest bank was in March strong-armed by Swiss authorities into a $3.25-billion takeover of Credit Suisse, to keep its closest domestic rival from going under. At the time, investors gasped at the risks UBS was taking on with the purchase. But by August, the bank said it would not need the billions in support offered by the Swiss government and central bank to offset any surprises that might pop up in its stricken rival's accounts. That must mean that Credit Suisse's situation was "much better than described in March", Thomas Aeschi, a member of parliament with the populist rightwing Swiss People's Party (SVP), wrote on X, formerly Twitter. UBS seemed to prove him right when it unveiled its second-quarter results on August 31. The bank posted a towering net profit of $29.2 billion for the three-month period, thanks to an exceptional gain due to the gulf between the amount paid for Credit Suisse and its book value. 'Godsend' "UBS has pulled off the deal of the century," Switzerland's Socialist Party said, maintaining the "rescue" was more of a "godsend", allowing it to snatch up a bank at a dramatically reduced rate. "If we had chosen another path, (like) a temporary or partial nationalization," said Samuel Bendahan, a Socialist MP and economics professor at the University of Lausanne, the Swiss state "would have taken on the risk, but those $29 billion would have gone to the population". Instead, the takeover has created "a monopolistic situation", he told AFP, warning that while this might strengthen UBS, it puts Switzerland in an extremely risky position if the new mega-bank were to one day face a crisis. Politicians are not the only ones taking issue with the takeover. Gisele Vlietstra, founder of the Swiss Investor Protection Association, told public broadcaster RTS that UBS's towering quarterly profit confirms that the "intrinsic value" of Credit Suisse was "far higher" than the purchase price. She said she hoped that the lawsuits brought by her association and others on behalf of thousands of Credit Suisse shareholders will help determine "the correct value" that they should be compensated. 'Nickel and dime' "UBS paid a nickel and dime" and "got rid of its main competitor" in one fell swoop, Carlo Lombardini, a lawyer and banking law professor at Lausanne University, told AFP. The coming restructuring will clearly carry risks, "but having paid just three billion, it can't go wrong", he said, slamming the option chosen by the Swiss authorities. Like UBS, Credit Suisse was listed among 30 international banks deemed too big to fail because of their importance in the global banking architecture. But the collapse of three US regional lenders in March left the firm looking like the next weakest link in the chain. The Swiss government feared Credit Suisse would have quickly defaulted and triggered a global crisis, shredding Switzerland's reputation for sound banking. But its chosen option for dealing with the issue was certainly a boon to UBS, which will now swell to manage $5 trillion of invested assets. Confidence 'evaporated' UBS chief Sergio Ermotti acknowledged in a recent interview with the SonntagsZeitung weekly that the bank had been "worried" about its competitor since 2016, and had among other things looked into the possibilities of buying it, for fear a foreign lender might snap it up. He acknowledged that Credit Suisse may have survived for a time if the central bank had injected more cash, "but it would not have been enough, since confidence had evaporated". Since the takeover announcement in March, UBS has seen its share price soar 31 percent. But the bank still faces significant challenges, Vontobel analyst Andreas Venditti told AFP. The $29 billion "is a huge one-off gain, but this is just accounting", he said, stressing that "the losses and costs will come later". The analyst, who a few months ago wondered in a note whether UBS had secured "the deal of the decade or a decade of headaches", stressed that "it's going to be a huge task". He said it would only become clear "whether it was worth it" after most of the restructuring is done three years down the line. Parts of the business are continuing to "produce huge losses", he said, warning "many things can still go wrong". Swissquote analyst Ipek Ozkardeskaya agreed, recalling that "UBS was forced" into the merger. Now it is up to the bank to "transform an 'obligation' to its advantage". The post UBS’s Credit Suisse takeover, ‘deal of the century’? appeared first on Daily Tribune......»»
House mulls bigger CoA budget
House lawmakers on Thursday rallied to grant the Commission on Audit a bigger chunk of next year’s P5.768 trillion proposed national budget to strengthen its power to uphold accountability and transparency within the national government. The proposed allocation for the audit body in 2024 is only P13.36 trillion, way lower than its current funding of P13.8 trillion. From the 2023 General Appropriations Act, CoA received a budget cut of P42,494,000 to the 2023 National Expenditure Program of the Department of Budget and Management. Citing the crucial role of the CoA against mismanagement of public funds, Kabataan Partylist Rep. Raoul Manuel said the CoA must get and be entitled to receive a bigger share of the national budget, especially when there is huge funding for confidential and intelligence funds for various agencies Manuel lobbied the proposal to the House Committee on Appropriations, which is looking into the CoA’s budget for 2024. CoA’s mission is to ensure accountability for public resources, promote transparency, and help improve government operations in partnership with stakeholders to benefit the public. Its mandate includes examining, auditing and settling all accounts about the revenue and receipts of, and expenditures or uses of funds and property owned or held, or pertaining to, the government. The rookie lawmaker noted that while there has been a downward trend in CoA’s budget since 2022, the confidential and intelligence funds that he believes the CoA should be examining more, are surging. “This is despite the fact that for 2024, we have a proposed increase of 9.5 percent in the total national budget. So, the pie will grow, but the budget of CoA will decrease,” he said. Mismanagement of funds While several agencies sought bulk of confidential and intelligence funds, CoA chairperson Gamaliel Cordoba said they also requested the same at P10 million being utilized for their operations to assist the prosecution in cases involving mismanagement of funds revealed in audit reports. “Our auditors often become witnesses in the cases filed in the Ombudsman and Sandiganbayan. We help the security of our witnesses when needed,” Cardoba told lawmakers. “When someone complains about our personnel, we hire third-party investigators to help us,” the CoA chief explained. Next year’s proposed national spending plan is P5 million or 9.5 percent higher than 2023’s P5.268 trillion spending program, which the House had approved in barely six weeks under the General Appropriations Bill. Regardless, according to Manuel, given that there are still many items to be audited in the last year and the current national budget, CoA should be getting a bigger budget allocation. Echoing Manuel, ACT Teachers Partylist Rep. France Castro said CoA has been assisting Congress, whose role is the power of the purse, in determining if funds given to the government agencies and their attached offices are properly used. “If there is an agency that is a plus for me, it is CoA because I can really see its performance. It releases performance audits and observations that help Congress,” she said. In a similar vein to the minority members, Marikina Rep. Stella Quimbo, senior vice chairperson of the appropriations panel, also underscored that CoA’s role stands as a cornerstone of fiscal integrity “in a landscape where financial prudence and transparency are indispensable.” “Scrutinizing the use of public funds and resources not only ensures accountability but also fosters an environment of trust. Every peso spent with integrity, every transaction examined thoroughly, contributes to the overarching goal of economic growth,” the economist-lawmaker said. The CoA, according to Quimbo, is not merely an auditing agency, but a custodian of the nation’s financial health. The post House mulls bigger CoA budget appeared first on Daily Tribune......»»
Tale of two cities (2)
Mayor Eric Olivarez of Parañaque City wants his city to be the first to have an eGovSuper App that would expedite and facilitate the registration of business establishments, enhance transparency, and prevent corruption. The young local chief executive, a doctor of education and registered nurse, is blazing the trail in local fiscal administration by making moves preparatory to the adoption of Commission on Audit’s digital transformation in the review of government financial transactions, being introduced by its Chairman Gamaliel Cordoba. Parañaque City is just settling down from its mood of celebration for many good reasons, after being accorded by the Commission on Audit the unqualified opinion (indicative of the absence of any material misstatements), on the fairness of presentation of its financial statements for the calendar year ending 31 December 2022; after obtaining the unprecedented increase of P10 billion in its asset and equity after 12 months of Dr. Eric’s administration, with the overwhelming optimism of another P10 bIllion increase expected by 31 December 2023. The city is deserving of three awards of recognition: (1) Most Ready to Adopt CoA’s digital accounting and auditing; (2) Best City Accountant, Ms. Marilou Tanael, for her dedication and hard work in cleansing the accounts, eliminating and reconciling discrepancies, thereby clinching the P10-billion increase in asset and equity; and for enabling all the Punong Barangays of the City to prepare and submit promptly their annual audit reports; (3) Best City Auditor, State Auditor V. Robert Limcolioc, for helping the city recover from utter bankruptcy to its present financial resurgence. Auditor Limcolioc has been most outstanding as a representative of the Commission on Audit guiding the management of Parañaque City. The kind words heard from the department heads of the city about the resident auditor was: “He easily sees the problems and he shows us how to solve them.” The overall performance of the Olivarez leadership in managing the accounts and financial operation of the City of Parañaque is in totality a gift to behold, an accomplishment to marvel at, and one marked by humility worthy of emulation. It took 10 years for the Olivarez leadership — from Edwin to the incumbent Eric — to normalize the finances of the city from the agony of paying the huge bank loan, a burden shouldered by the people of Parañaque for many years, the negative entries involving assets and liabilities were daily ugly sights in the books of accounts until cleared with the help of CoA. The activities initiated by Dr. Eric in Parañaque City relating to digitalization are forerunners of digital accounting and auditing approaches that will be forthcoming in the Philippine financial system, pursuant to the recent advocacy of CoA Chief Cordoba. With his experience and expertise in digital technology and communication, Cordoba hopes to usher the Commission on Audit to new heights through the digital transformation of accounting and auditing. The online/no-contact transaction in granting business permits is an activity typical of the eGovSuper App, a mobile application that can provide multiple services, including payment and financial processing, effectively becoming an all-accomplishing self-contained commerce and communication online platform that embraces many aspects of personal and commercial life. In his eagerness to enhance transparency and prevent corruption, Mayor Olivarez coordinated with Undersecretary for e-Government David Almirol of the Department of Information and Communications Technology. The mayor informed the undersecretary of his full support in adopting the e-GovSuper App one-stop platform that will expedite the processing of local government transactions. Meanwhile, it would be wise to keep on repeating, without becoming redundant, especially on a matter that is alien to many Filipino bureaucrats, that the major thrust of CoA Chair Cordoba includes the development of an easy-to-implement and technologically driven government accounting system compliant with international standards to ensure that all revenues and expenditures are recorded accurately and in real-time and enhancing audit guidelines for e-reports to cover contracts entered into via social media platforms. The post Tale of two cities (2) appeared first on Daily Tribune......»»
DoF: Rural banks should adopt tech
Rural banks must speed up the integration of digital services in their systems to allow more Filipinos to obtain various financial services, Finance Secretary Benjamin Diokno said. “The digital divide has continued to widen, leaving vulnerable sectors of the society on the margins of economic progress,” Diokno said in a statement shared Monday by the Rural Bankers Association of the Philippines. RBAP has at least 400 members and is celebrating their rural banking consciousness week until Saturday with the theme “Rural Banks: Ensuring that No Juan is Left Behind in the Age of Digitalization.” He stressed the digital gap in banking among Filipinos is evident despite the rise of digital technologies in banking, including mobile apps and the cloud system which is an online data-sharing tool and computer programs manager. A 2022 survey by the Bangko Sentral ng Pilipinas showed 55 banks could adopt digital technologies efficiently. “With accelerated adoption of digital technologies in recent years, access to financial services and critical information has never been more readily available to the general public. DoF supports RBAP’s initiative to integrate financial technologies in their services to expand access to formal credit,” the finance chief said. Opportunity to expand services Citing the performance of ASA Philippines, a microfinance lender to rural entrepreneurs, the Asian Development Bank said rural banks could expand their loan portfolios by over 50 percent using cloud technology. To help modernize the systems of rural banks, global market analyst McKinsey & Company said foreign expertise and resources can be tapped to reach over 71 million Internet users in the Philippines and the projected growth in Filipinos with bank accounts from 50.3 million to 85 million by 2030. “The underserved rural sector is well suited to digital-first or hybrid offerings, and recent changes to onboarding requirements and agent-banking rules are designed to enable digital service providers to maximize the impact of the country’s limited rural banking infrastructure,” McKinsey analysts said. The post DoF: Rural banks should adopt tech appeared first on Daily Tribune......»»
Logo redesign cheapest, says PAGCOR chair
The once-controversial redesign logo of the Philippine Amusement and Gaming Corporation that drew criticism from the public for costing P3 million in government funds is already the “cheapest,” said its chairperson Alejandro Tengco on Monday. Responding to Kabataan Rep. Raoul Manuel’s query during PAGCOR’s briefing on the 2024 national budget before the House Committee on Appropriations, Tengco justified the agency’s spending of P3 million for rebranding the logo was already a steal. In fact, he said, the graphic artist’s act of rebranding the old PAGCOR logo design for P3 million could be perceived as an act of charity. “That’s why that P3 million was very cheap,” Tengco said. During his interpolation, Manuel asked the top PAGCOR official why there was a need to spend such a vast amount, given that other international top brands such as Coca-cola, Twitter and Nike do not spend millions of dollars for such redesigning. “We, in the government, shouldn’t be saving more? And we claim we don’t have fiscal space for other budget items, but for that logo, there is,” Manuel said. The Makabayan lawmaker further noted that the Bangko Sentral ng Pilipinas, which is also a part of the bureaucracy, did not spend millions of funds to redesign its 10-year-old logo, released in 2020. Manuel also said that the country has many graphic artists that could come up with logos that would not cost much. Tengco, on the other hand, countered that the P3 million paid by PAGCOR not only accounts for the logo itself since the graphic designer also has other deliverables, such as traveling the country to examine various divisions and departments of the agency to install the new logo. Moreover, the PAGCOR chief disclosed to the panel that the modification of their logo was to counter thousands of counterfeit licenses now in circulation. Tengco bared that there have been reports from various regions in the Philippines and other international jurisdictions that there are close to a thousand fake licenses going around now. These fake licenses, he said, are being used for illicit operations worldwide, particularly in London, Turkey, Curacao, and also within the country’s borders. “So we decided to redesign the logo immediately to be able to counter such,” Tengco said, brushing off allegations that the revision of the logo was solely for the luxury of the chairman and the board. “So we have to rebrand. When you rebrand, that means you don’t just do a logo specifically. One, the graphic designer, who was awarded the design, has to ensure that the said logo’s implementation and use will be properly done,” the PAGCOR chief told the panel. Meanwhile, Cagayan de Oro Rep. Rufus Rodriguez raised concerns that PAGCOR’s new logo could have infringed on the copyrights of Petron, which many believe have comparisons to PAGCOR’s logo. “It’s not only about the expedite of P3 million, but the fact that the logo that you have has a big similarity to the Petro logo. It looks the same,” Rodriguez said. Tengco, however, confidently answered Rodriguez that he himself examined the logo and denied claims that there was intent to duplicate Petron’s. “I have asked the artist, and we have also asked the artist of Petron. So far, nothing. Actually, eight logos were presented to the board,” he said. “Unfortunately, for some, that’s what the board chose. But definitely, the graphic artist had assured us that there was no infringement and there was no attempt to copy such,” Tengco added. The post Logo redesign cheapest, says PAGCOR chair appeared first on Daily Tribune......»»