Category: General

MANILA: Investors were concerned about the increasing tension in the Middle East and the upside risks to inflation, bringing the local bourse to its longest losing streak in eight years.

Meanwhile, the Philippine peso finished at the 57-level on Tuesday.

The Philippine Stock Exchange index (PSEi) plunged to 6,404.97, shedding 157.46.

‘Philippine shares experienced the largest sell off year-to-date as the market touched the 6,400 level, falling 2.4 percent,’ Regina Capital Development Corp. head of sales Luis Limlingan said.

All Shares, likewise, plummeted by 1.96 percent to 3,409.85.

‘The bourse has now dropped for nine consecutive days which has been the longest losing streak since October 2016,’ Philstocks Financial, Inc. research and engagement officer Mikhail Plopenio said.

All sectoral indices closed in the red territory, with Service being the biggest loser for this day’s trading. Its counter dropped 3.27 percent to 1,784.33.

It was followed by Industrial, down by 2.74 percent; Holding Firms, con
tracting by 2.42 percent; Financials (-1.64 percent); Property (-1.59 percent); and Mining and Oil (-1.36 percent).

‘(I)nvestors were weighed by negative factors offshore and at home. The continuous selloff was due to the increasing tensions in the Middle East and worries regarding possibly delayed rate cuts by the BSP (Bangko Sentral ng Pilipinas) amid upside risks to inflation. The negative cues from Wall Street amid rising treasury yields also contributed to the market’s drop,’ Plopenio added.

He said net outflows of foreign traders amounted to PHP1.19 billion.

On the other hand, net market value turnover stood at PHP6.16 billion, higher than the year-to-date average of PHP5.08 billion.

Losers led gainers a 154 to 41, leaving 45 counters unchanged.

Meanwhile, the peso further depreciated on Tuesday, finishing at 57 to a US dollar.

The local currency shed 0.19 to the greenback.

It opened the day weak at 56.85 from last day’s kick-off at 56.65 to a dollar.

The currency pair traded between a low of 56
.85 to a high of 57, bringing the average level for the day at 56.97 to a dollar.

Volume of trade declined to USD1.1 billion from USD1.59 billion on Monday.

Source: Philippines News Agency

Authorities of the Mekong Delta province of Soc Trang have coordinated closely to popularise regulations to prevent and combat illegal, unreported and unregulated (IUU) fishing among the local fishermen.

On April 15, the Trung Binh Border Post based in Tran De district, the Fisheries Sub-Department, and the Department of Agriculture and Rural Development of Soc Trang jointly held a conference on anti-IUU fishing rules for nearly 100 local fishermen as well as captains and vessel owners in the district.

At the event, participants were updated on the European Commission (EC)’s regulations on fishing, the impacts of the EC’s yellow card warning against Vietnamese seafood exports, as well as the Prime Minister’s directions on urgent tasks and measures to remove the warning, along with legal regulations regarding fisheries.

They also received guidance on processing procedures to make port enter and exit registration on the fishing vessel management system.

According to leaders of the Soc Trang Border Guard Co
mmand, the activity aims to enhance local fishermen’s awareness and sense of responsibility on legal fishing activities, while calling for the engagement of all sectors and localities in encouraging fishermen to strictly implement fisheries regulations.

Alongside, the popularisation of laws and policies also helps mobilise the engagement of fishermen in protecting the national sovereignty over seas and islands in the new situation.

On the occasion, 100 national flags and 50 lifebuoys were presented to local fishermen./.

Source: Vietnam News Agency

MANILA: Senate Majority Leader Joel Villanueva on Tuesday said the Senate is set to approve 10 bills when session resumes on April 29.

Congress has less than one month of plenary sessions before the 2nd Regular Session adjourns sine die on May 24. The 3rd regular session of the 19th Congress will coincide with the third State of the Nation Address (SONA) of President Ferdinand R. Marcos Jr. on July 24.

“Medyo maliit yung (There is quite a small) time window to pass as much as we can, especially our priority measures. We are looking at least mga sampung (about 10) bills ready for the President’s signature before the SONA so that it will become a law,” Villanueva said during the Kapihan sa Senado forum.

He said some of these bills are now under the scrutiny of the bicameral conference, which include the Philippine Maritime Zones Act, Real Property Valuation Assessment Reform Act, Anti-Agricultural Economic Sabotage Act, and Self-Reliant Defense Posture Revitalization Act.

Villanueva said other priority meas
ures that are expected to be passed soon are the Philippine Ecosystem and Natural Capital Accounting System Act, Negros Island Region Act (already adopted by the House of Representatives), Anti-Financial Account Scamming Act (currently in the period of amendments), New Government Procurement Act (currently in the period of interpellations), Blue Economy Act, and the Enterprise-Based Education and Training Framework Act.

“I feel very confident that we will be able to pass these,” Villanueva said.

Meanwhile, Villanueva considers the Reserve Officers’ Training Corps (ROTC) Act and the Waste to Energy Act as bills that still have to undergo “heavy debates.”

Senate President Juan Miguel Zubiri earlier assured that the proposed ROTC Act will be one of their priorities as soon as session resumes.

“Yan po ay ita-tackle din (These will also be tackled), but I would say ‘best efforts’ to act on it whether it will pass or not kasi may mga (because there are) reservations,” Villanueva said, admitting that he is one o
f the senators that want ‘more clarifications’ on the said measures.

Source: Philippines News Agency

TACLOBAN: The Samar provincial government launched on Tuesday three circuits of its new tourism plan under the ‘Spark Samar’ campaign.

The programs are the Tandaya Trail Tourism Circuit, Mabaysay Cultural River Cruise and Secret Kitchens of Samar Gastronomy Tour.

‘With three of its newest products, you’ll fall in love with the province’s rich natural beauty, cultural heritage, and culinary delights. We are excited to bring these offerings to the forefront, not just in Eastern Visayas but also beyond its borders,” Governor Sharee Ann Tan said during the launch in Basey town.

Tan believes that the path to progress in Samar lies in the captivating and inclusive nature of tourism.

The Tandaya Trail features the wonders of the breathtaking Sohoton Caves and Natural Bridge and the centuries-old tradition of mat weaving in Basey town; picturesque farm landscapes and magnificent rock formations in Marabut town; and the sumptuous seafood dishes at San Juan by the Bay against the magical backdrop of San Juanico Bri
dge in Sta. Rita town.

Tandaya is the ancient name of the province and is being used by the local government in its tourism promotion.

The Mabaysay Cultural River Cruise is a cruise along the Cadac-an River, known as the Golden River, in Basey town. Along the way, guests will get to stop by different wharves.

The Secret Kitchens of Samar Gastronomy Tour includes cooking demonstrations, meeting with kitchen heroes, and savoring the flavors of authentic Samar cuisine passed down through generations.

‘These offerings highlight the enormous potential that our destinations can have in providing meaningful, authentic, immersive, and sustainable Philippine experiences to local and national tourists and also signify the enormous importance of collaboration between the national government, local government, and our private tourism stakeholders,’ Tourism Secretary Christina Garcia Frasco said during the event.

Frasco said tourism is the second-top economic growth driver in the country, providing at least 5.3 milli
on jobs.

During the launch, the Department of Labor and Employment provided PHP3.5 million in livelihood grants to seven tourism worker associations in support of their livelihood activities.

Source: Philippines News Agency

KOTA BHARU, Rushing out to join a motorcycle convoy of friends ended in tragedy when a young biker was among three people killed in a seven-vehicle pile-up at KM 9.9 of the Ketereh-Kota Bharu highway here at 12.50 am today.

The victim, identified as 21-year-old Ahmad Izuddin Ahmad Jhosman, died while receiving treatment at the Universiti Sains Malaysia Hospital (HUSM) in Kubang Kerian here.

The victim’s father, Ahmad Jhosman Ab Rahman, 46, said the eldest son of three brothers left the house at Kampung Teluk Kandis in Salor at 8.30 pm yesterday to join his friends at an eatery in Ketereh.

“His mother asked Ahmad Izuddin to stay home for dinner but the deceased had a date to keep with his biking pals.

“Before leaving the house, he appeared disappointed when he couldn’t find something he was searching for,” the grieving father recalled at the HUSM mortuary today.

Ahmad Jhosman, who is a security guard, said he was troubled after dreaming of a broken tooth in the middle of the Ramadan month, which he felt
now was a premonition foreboding the death of his son.

According to him, his son was steeped into motoring and had a certificate for automotive skills from a technical college and was pursuing his TVET diploma studies at Giatmara Rantau Panjang.

Meanwhile, his sister, Siti Maisarah, 18, recalled the second day of Syawal which was her last interaction with her brother when they closed ranks at that meeting.

“He was a quiet person who watched over his younger siblings,” she said, adding that the deceased will be buried at the Islamic cemetery at Kampung Teluk Kandis in Salor today.

In the accident early today, three bikers died while three others were seriously injured in a seven-vehicle pile-up involving six motorcycles and a car at KM 9.9 of the Ketereh-Kota Bharu highway here at 12.50 am.

Ahmad Izuddin was one of the fatalities in the collision which also killed two of his friends, Azman Uji, 21, and Muhammad Faiz Mohd Nasarudin, 19, both of whom died at HUSM.

Three other bikers were still critical wit
h serious injuries in the red zone at Raja Perempuan Zainab II Hospital here.

Source: BERNAMA News Agency

MANILA: President Ferdinand R. Marcos Jr. on Tuesday directed all government agencies to make sure that there will be a stable power supply amid the declaration of red and yellow alerts in the Luzon grid.

In an X post, Marcos said he instructed the Department of Energy (DOE) to have a close monitoring and coordination with all stakeholders to address the situation.

‘At this time, it is crucial that we all work together to ensure a stable power supply for the next couple of days. Let’s adopt energy-efficient practices and stand together to overcome this challenge,’ Marcos said.

‘I have also directed all government offices to set the standard in conserving energy and minimizing power consumption,’ he added.

Earlier Tuesday, DOE Secretary Raphael Lotilla said the ‘extremely high temperatures’ affected the operations of 31 power generation facilities, prompting declaration of red and yellow alerts in the Luzon grid and a yellow alert in the Visayas grid.

Lotilla said the DOE had already asked the power plant
operators to work on restoring the facilities’ full operations.

Pagbilao Unit 1 went on forced outage on Tuesday, taking out 382 megawatts (MW) of capacity from the Luzon grid.

Around 19 power plants with a total capacity of 1,811.3 MW are currently not operating, including those that shut down since Aug. 1, 2023.

In the Visayas grid, the latest addition to power plants on outage were the 9-MW First Farmers Holding Corp., the 2.5-MW Victorias Milling Company, and the 13-MW Panay Diesel Power Plant 3-G, which all shut down on April 15.

Source: Philippines News Agency

MANILA: The Department of Health (DOH) has inaugurated a state-of-the-art Vicente Sotto Memorial Medical Center (VSMMC) Command Center in Cebu City to better serve the Visayas.

In a news release on Tuesday, DOH Secretary Teodoro Herbosa defined the VSMMC Command Center as the first among hospitals in Visayas to be fully equipped to respond to health emergencies and manage disasters.

‘Today marks a significant milestone in our commitment to enhancing emergency and disaster management in the Visayas Region. The inauguration of the command center at VSMMC represents a crucial step towards ensuring swift and coordinated responses to health crises,” he said during the inauguration on Monday.

“This facility will serve as a beacon of resilience and preparedness in times of need. This initiative is vital in advancing universal healthcare through proactive disaster management,’ he added.

The VSMMC Command Center is DOH-operated and has 1,500 beds with a multi-specialty academic medical center and healthcare provid
er network in the province.

It has a monitoring mechanism with a live closed-circuit television feed and real-time data surveillance to cater to local emergencies; live weather updates from the Philippine Atmospheric Geophysical and Astronomical Services Administration; seismological activities and observations of the Philippine Institute of Volcanology and Seismology; Central Visayas Electronic Health Referral System; and in-house queueing system watch, daily bed utilization, patient tracking system, and electronic health record system monitoring.

“This milestone is an embodiment of the Department’s 8-Point Action Agenda, particularly the fourth action agenda – Handa sa Krisis (Ready for Crises),” Herbosa said.

The inauguration was also attended by VSMMC executive committee and medical center chief Dr. Gerardo Aquino Jr., DOH Undersecretary for Universal Health Care – Health Services Cluster Area III (Visayas) Dr. Gloria Balboa, DOH Central Visayas Center for Health Development Regional Director Jaime Ber
nadas, and Cebu Provincial Board member and Committee on Public Health and Social Services chairperson Stanley Caminero.

Source: Philippines News Agency