Road to Olympics now clear for PH karate bets
The path to the Olympics is now clear for Southeast Asian Games karate champions Jamie Christine Lim and Junna Tsukii, who could book a flight to Tokyo with a podium finish in next year’s qualifying tournament. “They have to medal in [the Karate Olympic Qualifying Tournament] to gain entry to the Olympics,’’ said Karate Pilipinas […] The post Road to Olympics now clear for PH karate bets appeared first on Cebu Daily News......»»
Gods in robes
When President Ferdinand “Bongbong” Marcos Jr. warned that the Court of Appeals’ ruling restraining the Energy Regulatory Commission from compelling units of conglomerate San Miguel Corp. to comply with their contracts will hurt consumers through higher prices, he was correct. The CA stopping the power supply agreements or PSAs through a temporary restraining order which was recently upgraded to a permanent injunction, is expected to trigger a chain reaction in the power industry. “(The court action) will cause further dislocations and possible price increases for power,” the President had said. Marcos added his hope that the “CA reconsider and include in their deliberations the extremely deleterious effect this will have on power prices for ordinary Filipinos.” With the CA injunction as a precedent, other power producers are expected to seek the same court accommodation on adverse decisions on price increases handed down by the ERC. When the SMC energy units participated in the bid for Meralco contracts, the terms and conditions presented to them were very clear. As part of a huge business concern, they knew the commercial risks that came with the contracts, and their bids were supposed to reflect such risks. The strange thing is that other power companies that had the good sense either dropped out of the competitive selection process or submitted prices that were more grounded on reality and made do with a straight pricing scheme. SMC gamed the system by submitting a very low bid to win the PSAs and later arm-twisted the ERC to allow an adjustment in the terms of its contracts. After the ERC refused to go along and rejected the petitions, SMC went straight to the CA which promptly issued a TRO that stopped ERC from implementing its ruling. The ERC decision compelled SMC to fulfill the terms of its contract which still had seven years to run. Consumers thus will have to pay for the cost of the relief the CA granted to SMC through higher monthly electricity bills since the recovery of its claimed losses will be through increased prices. The CA’s decision last week overturned the pro-consumer ruling of the ERC, which was the aspiration of the Electric Power Industry Reform Act or EPIRA. SMC, in effect, was able to pass on the financial penalties of bad business decisions to innocent Filipino consumers—especially when they are struggling because of rising inflation. Worse, the CA decision said the permanent injunction applied without prejudice to future rate adjustments of SMC units South Premiere Power Corp. and San Miguel Energy Corp., making the restraint on ERC indefinite when it came to the two SMC affiliates. The global outlook is that fuel prices will remain elevated for quite some time. In this case, SMC and other independent power producers can keep running to the ERC for tariff relief every time they incur significant losses. The court is then the next step, as a result of their injunction power, to stop ERC from disallowing their petitions. Instead of relying on their business acumen to head off losses because of unfavorable global turns, the generating companies place their bets on a court injunction. It did not matter that the injunction undermined the sanctity of contracts, the integrity of the bidding process, and the credibility of SMC’s other supply contracts, the status of which significantly impact consumer welfare. The issue goes far beyond the profit and loss statement of SMC since it has ethical, legal, and consumer welfare concerns tied to it and which the CA should have considered. The court injunction sent the message that power producers can unilaterally end a supply agreement when it no longer suits their business interests. The post Gods in robes appeared first on Daily Tribune......»»
VW aims to remain ‘most successful foreign carmaker in China’
Volkswagen aims to stay the number one foreign carmaker in China, CEO Oliver Blume said Wednesday, even as the German giant struggles to keep up with homegrown rivals in the booming electric vehicle market. "Today we have a market share of around 14-15 percent," Blume said in a call with reporters. "And we have the clear aim to stay with this market share being the most successful international car manufacturer in China." The German car giant said it was targeting sales growth of five to seven percent annually until 2027, as the group bets heavily on electric cars and growth in China and the United States. "From the midpoint of 2022 guidance, we want to grow our sales by in average 5 to 7 percent per year until 2027," Blume told reporters in a call ahead of a capital markets day event. "While most revenues are still generated in Europe, the growth engines of the future will be China and North America," he added. The post VW aims to remain ‘most successful foreign carmaker in China’ appeared first on Daily Tribune......»»
Comelec eyes antigen test for 2022 poll bets
While the rules are not yet clear, the Commission on Elections will require candidates for the 2022 polls to submit antigen test results, according to Comelec Commissioner Rowena Guanzon......»»
Road to Olympics now clear for PH karate bets
The path to the Olympics is now clear for Southeast Asian Games karate champions Jamie Christine Lim and Junna Tsukii, who could book a flight to Tokyo with a podium finish in next year’s qualifying tournament. “They have to medal in [the Karate Olympic Qualifying Tournament] to gain entry to the Olympics,’’ said Karate Pilipinas […] The post Road to Olympics now clear for PH karate bets appeared first on Cebu Daily News......»»
Hoffman boosts bid for Paris Paris
Olympics hopeful Lauren Hoffman yesterday set a new national record in the women’s 400-meter hurdles with a gold medal performance in the Hurricane Collegiate Invitational in Coral Gables, Florida......»»
Infrastructure projects get better loan terms from Japan
The Philippines has secured better financing terms for two big-ticket infrastructure projects funded by the Japanese government aimed at improving public transport and road connectivity......»»
Capitol mulls putting ‘integrated south bus’ terminal in Talisay instead of at SRP
CEBU CITY, Philippines — Instead of at the South Road Properties (SRP), the new location of a new south bus terminal in Cebu might be in Talisay City. Cebu Gov. Gwendolyn Garcia on Wednesday, Mar. 27, said that they had received an unsolicited proposal of developing a brand new, south bus terminal. READ: Mayor Rama.....»»
Marvin hell-bent on punching way to Paris Olympics
Not to take part, but to take over......»»
Hoffman sets new Philippine hurdles record at Florida meet
Paris Olympics-hopeful Lauren Hoffman on Wednesday set a new national record in the women’s 400-meter hurdles with a gold medal performance in the Hurricane Collegiate Invitational in Coral Gables, Florida......»»
Mandaue drug bust: P476,000 ‘shabu’ seized from HVI
CEBU CITY, Philippines — Authorities seized suspected shabu worth at least P476,000 from a 45-year-old man described as a high-value individual during an anti-illegal drugs operation in Mandaue City early on Wednesday morning, March 27, 2024. The operation took place along Realty Road in the North Reclamation Area in Barangay Subangdaku, Mandaue City, Cebu. The.....»»
DOJ charges 2 alleged NPA financiers with terrorism financing
According to the DOJ, the case stemmed after reports that Dumlao and Tolentino possessed firearms and ammunition without a clear source of income or apparent purpose......»»
Arayat-Magalang bypass road 80 % complete: DPWH
Arayat-Magalang bypass road 80 % complete: DPWH.....»»
'We firmly support Philippines in upholding its national sovereignty': EAM Jaishankar in Manila
Manila [Philippines], March 26 (ANI): External Affairs Minister, S Jaishankar, who is on a formal visit to Manila, said on Tuesday that India firmly supports the Philippines in upholding its national sovereignty and will continue to further enhance cooperation in various fields, including defence and security. "We firmly support the Philippines in upholding its national sovereignty. So I think our position is very clear......»»
Beijing 2008 Olympics: one world, one dream
For the 2008 Olympic Games, Beijing advocated the idea of "One World, One Dream." However, the dream of the Chinese government is not the dream of everyone. In a vast social system long known for its tight control over its population, it's difficult for controllers and the controlled to share the same ideas.It had been a dream for Beijing to host the Olympic Games ever since the International Olympic Committee (.....»»
DPWH continues construction of Sta. Margarita Diversion road
Samar First DEO now continues the construction of Sta. Margarita Diversion road under the General Appropriations Act (GAA) for FY 2023......»»
Davao City Council moves hearing on traffic-causing road construction works
DAVAO CITY (MindaNews – 26 March) – The Davao City Council rescheduled to Tuesday, April 2, the second hearing on the suspended road construction works in the locality after key officials from the Department of Public Works and Highways (DPWH) – Davao region failed to show up Friday. The DPWH-Davao key officials are reportedly in […].....»»
MMDA allows road works during Holy Week
Road diggings will take place along major thoroughfares in Metro Manila this Holy Week when most motorists are vacationing in the provinces, the Metropolitan Manila Development Authority announced yesterday......»»
Authorities verifying 13 dead in North Cotabato road mishap
Authorities are still verifying the 13 fatalities in a vehicular accident involving a passenger van that collided with a dump truck along the National Highway in Barangay Luhong, Antipas, around 12:15 p.m. in North Cotabato on March 25, 2024......»»
DPWH-Davao: Coastal Road lights inactive due to stolen wires
THE Department of Public Works and Highways-Davao Region (DPWH-Davao) confirmed that a portion of lights along the Davao City Coastal Road are inactive due to wire theft......»»
Illegal road works?: Alarm raised over road development within watershed areas in Barangay Carmen
A DAVAO City Councilor has raised concerns regarding road construction within the watershed areas of Barangay Carmen, Baguio District......»»