Category: General

MANILA: Senator Jinggoy Estrada has filed a bill requiring employers to provide free financial literacy programs for their employees to help them make informed financial decisions.

Senate Bill No. 2630 or the Personal Finance Education in the Workplace Act, filed on April 14, aims to equip workers with knowledge and skills to manage their resources and become financially stable.

‘The role of employers to take a lead in this endeavor cannot be undermined because they provide the most accessible venues and channels for such initiatives,” Estrada said in a statement Monday.

The bill seeks to address the low financial literacy rate among Filipino adults, with only 1 percent answering financial literacy questions correctly, according to a Bangko Sentral ng Pilipinas survey in 2021.

Estrada, chair of the Senate Committee on Labor, Employment, and Human Resources Development, said under the bill, employers would be mandated to cover topics such as behavioral finance, savings, debt management, investment, insuran
ce, retirement planning, and other relevant personal finance areas.

Source: Philippines News Agency

COTABATO CITY: The local government of M’lang in North Cotabato has declared a state of calamity due to the effects of the El Niño phenomenon, raising the number of towns under calamity in the province to four.

M’lang Mayor Russel Abonado said the drought had affected about PHP345 million worth of crops and livestock in the town’s 37 villages.

Earlier, the towns of Alamada, Aleosan and Arakan also declared their respective localities under a state of calamity.

Provincial Agriculture Office officer Ruel Villanueva reported during a recent meeting that the drought had destroyed PHP306 million worth of crops in the initial three affected towns and has also hit parts of Magpet and Pigcawayan municipalities and Kidapawan City.

With M’lang having over PHP345 million in damage, the amount of damage to crops and livestock in the province rose to about PHP650 million, he said.

The heavily damaged crops include palay, corn, vegetables, and banana. Livestock and poultry farms are also affected.

Provincial governme
nt aid

To cushion the drought’s impact, the provincial agriculture office has started dispersing seeds, assistance and water pumps to farmer associations to cushion the impact of the dry spell.

Also, North Cotabato Governor Emmylou Mendoza has directed the agriculture office to bridge the farmers with the Philippine Crop Insurance Corporation (PCIC) to avail of agriculture sector programs during calamities.

Source: Philippines News Agency

TACLOBAN CITY: The Eastern Visayas State University (EVSU) in this city has kicked off the implementation of its PHP1.5-billion “smart” campus project meant to modernize the operation of the region’s oldest tertiary school.

In an interview Monday, EVSU president Dennis De Paz said the first of the three-phase projects awarded to Lancaster Technology and Development Philippines, Inc. will be completed next year.

Among the major components of the project are the establishment of an information and communication technology site, the three-story innovation hub, and the fabrication laboratory.

The two buildings have a combined budget requirement of PHP300 million, according to De Paz.

Other features of the project are the setting up of command-and-control facilities, tracking cameras, digital boards, and smart classrooms. The project will also utilize ID verification systems and incorporate face recognition technology for both students and staff.

‘It’s not visible since most of the projects are ICT (informati
on and communication technology)-related, but in the second and third phases, we will build more infrastructure,’ De Paz told the Philippine News Agency.

He said the project is the first on a campus in Eastern Visayas, providing a ‘seamless and engaging learning experience for students by incorporating technology and innovative features for classroom experiences.’

De Paz admitted that the start of the project had been delayed due to changes in designs. The funds were allocated in early 2023, but the project contract was awarded in December that year.

‘This is a design and build project. The winning bidder also made the design, and it is subject to approval by school officials,’ he added.

For the three phases, the project will need PHP5 billion. The second and third phases of the project will also cover EVSU satellite campuses in Ormoc City, Tanauan, Burauen, Carigara and Dulag in Leyte province.

Established in 1907, EVSU is mandated to provide advanced education, higher technological, professional instru
ction and training in trade, fishery, agriculture, forestry, science, education, commerce, architecture, engineering, and related courses.

Source: Philippines News Agency

MANILA: The directive of President Ferdinand R. Marcos Jr. to ease the importation of agricultural products has boosted investors’ sentiment on Monday, bringing back the local index to the green territory, while the peso closed strong at the start of the week.

The Philippine Stock Exchange index (PSEi) inched up 1.08 points, or almost flat at 0.02 percent improvement, closing the day at 6,444.08, with All Shares finishing better, rising by 0.12 percent to 3,425.71 level.

‘President Marcos’s directive to ease the importation process of agricultural products provided a boost to market sentiment. This change is anticipated to ease short-term supply issues, which in turn should help reduce inflation caused by supply shortages,’ Philstock Financials, Inc. assistant research manager Claire Alviar said.

Sectoral indices were mixed, with counters ending in the green like Mining and Oil, up by 3.10 percent to 8,477.15; followed by Property, up by 1.66 percent to 2,458.37; and Industrial, up by 0.28 percent to 8,399
.44.

On the other hand, those sectors that closed in the red were Services, Holding Firms, and Financial, with shares each declining by not more than 0.67 percent.

‘However, it was noticeable that many investors remained on the sidelines, with the net market value turnover registering at only PHP3.41 billion, lower than month-to-date average of PHP5.16 billion,’ Alviar said.

Advancers led losers at 96 to 82, with 47 counters left unchanged.

Meanwhile, the peso finished strong at the start of the week, improving by 0.11 to 57.54 to a US dollar from Friday’s finish of 57.65 to a dollar.

This is despite the local currency opening weaker at 57.56 versus last week’s kick-off at 57.35 to the greenback.

The currency pair traded between a low of 57.41 and a high of 57.60 to a dollar.

The weighted average level for the day stood at 57.51 to the greenback.

Volume of trade dropped to USD1.16 billion from last week’s USD1.85 billion.

Source: Philippines News Agency

LABUAN, Labuan’s Palm Beach Resort and Spa has clinched the coveted title of the island’s premier resort, setting a benchmark for international-standard hospitality.

Renowned for its seamless blend of luxury and relaxation, the resort has emerged as a magnet for both international and domestic visitors alike.

Established in the 1980s, the Palm Beach Resort and Spa has consistently captivated guests with its timeless elegance and contemporary architecture.

With world-class amenities and impeccable service, it has cemented its status as a pinnacle of excellence in Labuan’s hospitality scene.

Visitors to the resort are greeted by pristine beaches, lush greenery, and unparalleled comfort, making it an oasis of tranquillity amidst the bustling island life.

‘We are delighted to be recognised as Labuan’s premier resort by international tour agents and foreign visitors…this accolade reflects our steadfast commitment to delivering an exceptional experience for our guests, whether they are here for business or
leisure,’ Palm Beach Resort and Spa director Chai Tze Kee told Bernama today.

He said the allure of the Palm Beach Resort and Spa extends beyond its physical allure; serving as a testament to Labuan’s escalating prominence as a tourist hotspot.

‘With its strategic location, away from the hustle and bustle of Labuan town, and top-notch facilities, the resort serves as a gateway to the island’s rich cultural heritage and natural marvels.

‘We take pride in showcasing Labuan’s beauty to the world through our resort…our success is intertwined with the island’s charm, and we are dedicated to promoting sustainable tourism practices that benefit both our guests and the local community,’ Chai said.

As Labuan continues to draw travellers seeking authentic experiences, Chai said the Palm Beach Resort and Spa stands poised to embrace them warmly.

‘With its unwavering dedication to excellence, it is poised to remain a cornerstone of Labuan’s hospitality industry for years to come,’ he said.

Meanwhile, Labuan Corpora
tion (LC) chief executive officer Rithuan Ismail attributed the recognition to Labuan’s tourism industry.

‘LC has various plans to enhance the tourism facilities on this island to complement the efforts of Palm Beach Resort in boosting the island’s tourism sector.

‘As we continue our tourism facilities projects alongside public amenities improvement projects, these endeavours are aimed at enhancing Labuan’s tourism image,’ Rithuan said.

He also emphasised that efforts to bolster Labuan’s tourism are ongoing and aligned with the federal government’s agenda to foster positive development in Labuan’s tourism sector.

Source: BERNAMA News Agency

KUALA KUBU BAHARU, A total of 28,808 units of Armed Forces Family Housing (RKAT) were repaired and maintained through the RM400 million allocated by the government this year.

Defence Minister Datuk Seri Mohamed Khaled Nordin said the number involved 48 Malaysian Armed Forces (ATM) camps nationwide.

‘This year, all the occupied housing units nationwide will be repaired, so that they (personnel) will no longer be worried (when on duty) about such as a leaky roof, that they will have to pay the expenses.

‘Now the government is taking over and making sure it (the problem) doesn’t happen, and we can improve the comfort of personnel,’ he said, at a press conference after visiting the RKAT housing in Taman Seruling here, today.

Mohamed Khaled said that he continues to monitor the maintenance and repair process of RKAT housing units by visiting all ATM camps nationwide, to ensure that the maintenance and repair work is carried out as planned.

‘I want to see that the planning (repair and maintenance) is implemen
ted and to get information on the duration of the work (maintenance) being carried out.

‘This shows that the government is committed to the welfare of military personnel because we appreciate the sacrifices and contributions of those who are looking after the security and sovereignty of the country,” he said.

Earlier, Mohamed Khaled viewed the environment of the government’s residential buildings for ATM personnel on duty at Erskine Camp, here.

He said that maintenance work would be carried out for a total of 245 housing units of RKAT in Taman Seruling, with an allocation of RM596,283.

In the Budget 2024, Prime Minister Datuk Seri Anwar Ibrahim announced RM400 million to maintain and repair all RKAT housing units.

Source: BERNAMA News Agency

GUA MUSANG, The Education Ministry has advised students nationwide to drink enough water and wear appropriate school uniforms due to the hot weather.

Minister Fadhlina Sidek urged parents and guardians to monitor their wards to avoid unwanted incidents.

She said schools have existing guidelines regarding student activities during heatwaves and have been briefed accordingly.

‘We have emphasised this matter repeatedly and asked all schools nationwide to comply with the existing SOP (Standard Operating Procedure).

‘I believe every school has conducted a risk assessment of all activities based on the prescribed guidelines,’ she said when asked to comment on the matter after visiting Sekolah Kebangsaan Sri Permai, a Comprehensive Special Model School for Year 9, during the MADANI Education Tour for schools with Orang Asli students, here today.

Her deputy, Wong Kah Woh, and Kelantan state education department director, Datuk Mohd Zamri Abdul Aziz, were also present.

On April 16, it was reported that parents
were encouraged to lodge complaints to the Ministry of Education’s Public Complaints Management System (SISPAA) if a school holds outdoor activities when the weather exceeds 35 Celsius in their area.

Source: BERNAMA News Agency