Category: General

MANILA: The country’s gross international reserves (GIR) settled at USD102.7 billion as of end-February, the Bangko Sentral ng Pilipinas (BSP) said.

In a statement released late Thursday, the BSP said that preliminary data showed that the GIR level during the month was lower than end-January’s USD103.3 billion.

The BSP’s reserve assets consist of foreign investments, gold, foreign exchange, reserve position in the International Monetary Fund (IMF), and special drawing rights.

“The month-on-month decrease in the GIR level reflected mainly the National Government’s (NG) payments of its foreign currency debt obligations,” the central bank said.

The BSP noted that the net international reserves, which refers to the difference between the central bank’s reserve assets (GIR) and reserve liabilities (short-term foreign debt and credit and loans from the IMF), also slightly decreased to USD102.66 billion from the end-January level of USD102.68 billion.

“The latest GIR level represents a more-than-adequate extern
al liquidity buffer equivalent to 7.7 months’ worth of imports of goods and payments of services and primary income,” the BSP said.

It is also about six times the country’s short-term external debt based on original maturity and 3.9 times based on residual maturity.

By convention, the GIR is viewed to be adequate if it can finance at least three months’ worth of the country’s imports of goods and payments of services and primary income.

Source: Philippines News Agency

Can Tho: Authorities of Can Tho and a delegation from Germany’s Wernigerode city led by Mayor Tobias Kascha agreed to strengthen cooperation in various fields, with a focus on sustainable green tourism, during a working session in the Mekong Delta city on March 8.

Vice Chairman of the municipal People’s Committee Duong Tan Hien said Can Tho boasts a strong agricultural sector, with 80% of its land for farming (nearly 115,000 ha). The city is a hub for services and tourism, with rice, seafood, fruit trees and animal farming forming the backbone of its agricultural industry.

Last year, the city accommodated roughly 6 million visitors, generating a revenue of 5.42 trillion VND (225.8 million USD). Leveraging the advantages provided by the Government’s pilot specific policies and mechanisms for Can Tho’s development, the city aims to maximise its potential and become a stronger economic force.

Hien emphasised the mutual benefits of increased agricultural cooperation between Wernigerode and Can Tho, saying that
it aligns perfectly with Can Tho’s strategic focus on developing its services- tourism.

The city commits all possible support for firms from Germany, particularly those from Wernigerode to do business there, he said.

Hien wished that Mayor Kascha would act as a bridge, facilitating information exchange and business opportunities for Can Tho enterprises seeking to expand into Wernigerode.

Mayor Kascha expressed his desire for deeper cooperation across various sectors. He highlighted Germany’s existing twinning relationships with Ho Chi Minh City and Hoi An, which he believes provide a solid foundation for further locality-to-locality partnerships between Vietnam and Germany.

Wernigerode, like Can Tho, prioritises tourism as a key economic driver, he said, noting the German city’s extensive experience in sustainable green tourism models. He expressed his willingness to share this expertise with Can Tho while learning from the Mekong Delta city’s successful models, particularly those focusing on green touris
m adaptable to climate change.

According to the municipal Department of Foreign Affairs, Can Tho exported 18.15 million USD worth of goods to Germany last year, with rice, aquatic products, agricultural and processed agricultural products, apparel and handicrafts as key currency earners. Its imports from Germany reached 260,000 USD, mostly pharmaceutical materials, machinery and equipment./.

Source: Vietnam News Agency

DUMAGUETE: The Department of Labor and Employment (DOLE) has awarded PHP500,000 to an association of fruit and vegetable vendors at the city public market here to support their livelihood venture.

The Dumaguete Public Market Fruits and Vegetables Vendors Association, comprising 87 members, mostly women, received the assistance recently, Luchel Taniza, labor information officer of DOLE 7 (Central Visayas) said in an interview Thursday.

Taniza said the Dumaguete West City Vendors Association, being the DOLE-7’s accredited co-partner (ACP), would ensure that the livelihood project intended for the fruit vendors’ group would become operational sooner.

‘The budget for the livelihood assistance will be downloaded through the ACP and they will take charge of the canvassing and procurement of all the materials and equipment that the beneficiary association will need for their project,’ she said in mixed English and Cebuano.

The ACP will then turn these over to the beneficiary association and will also be responsi
ble for the liquidation of the funds, she added.

The livelihood program – a major component of the DOLE Integrated Livelihood and Emergency Employment Program (DILEEP) – is one of the flagship programs of the department, which continues to provide financial assistance to disadvantaged and self-employed individuals struggling to make both ends meet.

Also covered by the program are unpaid family workers, those with low wages, seasonal workers, and those facing displacement, the DOLE-7 said in a media release.

Lourdes Nalam, association president, thanked the DOLE-7 and assured them that the association would be responsible for managing the livelihood assistance that the DOLE-7 handed to them.

Source: Philippines News Agency

BUTUAN: The city government of Surigao received a PHP3.6 million livelihood support fund from the Department of Labor and Employment (DOLE).

‘The financial support is a substantial boost for the livelihood programs of the city government under the administration of Mayor Pablo Yves Dumlao II,’ the local government said in a statement Friday.

The livelihood fund, released on Thursday afternoon through the Kabuhayan Program of the agency, will be utilized to help 123 individuals from the Muslim community in the city by providing them with livelihood programs and projects.

DOLE Surigao del Norte chief labor and employment officer May Velonta handed over the check containing the livelihood fund to City Councilor Baltazar Abian, who chairs the Labor and Employment Committee of the Sangguniang Panlungsod.

The city government also recognized the continuing support of the DOLE for its livelihood programs and initiatives.

‘The Kabuhayan Program represents a vital initiative aimed at enhancing the capabilities of
impoverished, vulnerable, and marginalized workers in our communities,’ the statement said. ‘The selection is a way of ensuring that the support reaches the intended beneficiaries, especially those facing employment challenges.’

Source: Philippines News Agency

MANILA: A Catholic prelate on Friday urged the faithful to pray for the victims of the March 6 attack of rebels at the Gulf of Aden where three crew members, two of which are Filipino seafarers, were killed.

“In this moment of war, chaos, and uncertainty, let us all turn to God for His divine intervention. Let us pray for peace in the Middle East, entrusting everything in His power and mercy…We are one and united with the families of the victims. We urge them to be strong and lift up everyone and everything to God,” Antipolo Bishop Ruperto Santos said in an interview over Church-run Radyo Veritas.

“We call on the Houthis to stop all the attacks, aggression, and intrusion in the Red Sea. This incident underscores the danger to human life, property, and the marine environment in the area,” the Catholic prelate added.

The attack on MV True Confidence was the first fatal assault due to the tension at the Red Sea, one of the important trade routes from Europe, Middle East and Asia.

According to an official s
tatement by the Indian Navy and released by Anadolu news agency on March 7, the Barbados-flagged Bulk Carrier MV True Confidence was reportedly ‘hit by a drone/missile’ in the south-west of Aden on Wednesday, resulting in fire onboard and critical injuries to some of the crew members forcing the crew to abandon the ship.

“INS (Indian Navy Ship) Kolkata, deployed for maritime security operations arrived at the scene of action and rescued 21 crew members, including one Indian national, from the life raft using its integral helicopter and boats.”

Santos said he is praying for God’s intervention to touch the hearts of contrasting parties and stop the hostility that is affecting innocent people.

“We place our trust in God’s miraculous love for peace, diplomatic settlements, and to soften the hearts of both sides. May each one respect life, promote the common good, and protect the individual rights and welfare,” he said.

It was in November 2023 when the Yemeni militia group, Houthis started attacking the Red Se
a in support of Palestinians at the start of Israel – Hamas militant war.

The group also took hostage 17 Filipino crew members of Galaxy Leader cargo ship at the Red Sea.

Source: Philippines News Agency

MANILA: The Department of Social Welfare and Development (DSWD) lauded the contribution of over 1.5 million women volunteers in its community-driven development programs.

‘Malaki ang tiwala ng DSWD sa lakas ng mga kababaihan. Ang kanilang lakas ang nagsisilbing gabay patungo sa isang mapagpalaya, mapagkalinga at progresibong lipunan (The DSWD has great confidence in the strength of women. Their strength serves as a guide toward a liberating, caring and progressive society),’ DSWD spokesperson Romel Lopez said Friday as the world commemorates International Women’s Day.

Lopez cited women’s participation in developing the programs of the agency such as the Kapit-Bisig Laban sa Kahirapan – Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS).

Sixty-three percent of KALAHI-CIDSS volunteers are women, according to Lopez, who is also the Assistant Secretary for Stratetegic Communications.

As of February, the KALAHI-CIDSS has more than 1.5 million women volunteers, including the elderly, across
all program modalities.

Mennie Bongcay, 72, of Barangay New Poblacion, Cabusao, Camarines Sur, said her age was never a hindrance in doing volunteerism.

Despite her age, she actively participates in DSWD community projects.

‘Para makatulong at matuto pa din sa iba’t-ibang aspeto ng paggawa ng proyekto ng barangay kahit na nasa ganitong edad na ako, na (To help and to learn the different aspects of conducting a project in our barangay even though I’m at this age), 72 years old,’ Bongcay said.

Her eagerness to help the community inspired her to take on the role of Project Implementation Team head.

She said the program does not discriminate.

‘Even if you have no education or you didn’t finish school, even if you are jobless and no matter what your age and sexual orientation are, you can be accepted as a volunteer in the program. What’s important is the participation and dedication,’ she said in Filipino.

Currently, she is actively engaged in another sub-project — construction of a daycare center in their
community.

Lopez said the participation of women volunteers like Bongcay is the reason why many of their projects progressed.

‘DSWD is very grateful to our women volunteers. Rest assured that we will continue to improve our programs and services to strengthen and give you more opportunities to help your communities to grow,’ Lopez guaranteed.

KALAHI-CIDSS is a poverty alleviation program aimed at empowering poor communities to improve their lives.

The program focuses on enhancing local governance, promoting social inclusion, and fostering sustainable development through active community participation.

Source: Philippines News Agency

HCM City: The 10th Ao Dai Festival, a signature event of Ho Chi Minh City, is underway featuring myriad enticing activities.

At its opening ceremony taking place on March 7 evening, the public was treated to a spectacle of over 800 ao dai designs meticulously crafted by 30 renowned local designers, with more than 20 prominent writers, artists, and celebrities serving as ambassadors for the event.

Particularly noteworthy was a performance of female consuls general and consuls general’s spouses wearing ao dai, showing the charm of the Vietnamese traditional attire and the friendship and cooperation between nations.

At the ceremony, Vice Chairman of the provincial People’s Committee Nguyen Van Dung attributed the success of the festival in a decade to concerted efforts and support among the authorities, organisations, businesses, and locals.

On the occasion, the annual event also earned a special record for the biggest number of consecutive annual editions held so far.

During the festival lasting until Marc
h 17, several interactive activities are set to be held, including an art programme, competitions, exhibition spaces, and an event where ao dai are presented to disadvantaged women./.

Source: Vietnam News Agency

CAGAYAN: The Local Water Utilities Administration (LWUA) will meet with officials of the Cagayan de Oro Water District (COWD) to resolve its water rate dispute with bulk water supplier Cagayan de Oro Bulk Water Inc. (COBI).

In a statement Friday, Acting LWUA chief Eileen Dela Vega clarified that it was not the agency but the Office of the Government Corporate Counsel (OGCC) that oversaw contract negotiations between COWD and COBI.

“We were not part of the negotiations. Our role now is to (address) the impact of the water rate hike on consumers, which we regulate,” Dela Vega said.

Under the joint venture (JV) guidelines of the National Economic and Development Authority, which was the basis of COWD and COBI contract, LWUA is not required to approve the contract, she said.

In a separate statement, Mayor Rolando Uy said he is not against a water rate increase as long as it is justified, and the public is satisfied with the water provider’s services.

COBI has set over PHP3 water rate hike amid the PHP426 mil
lion debt it is trying to collect from COWD.

Uy said any water rate increase should take into account the economic slowdown caused by the coronavirus disease 2019 pandemic.

Under the contract signed between COWD and COBI in 2017, COBI is allowed to impose an incremental rate increase of over PHP3 every three years.

COWD general manager Antonio Young said the Board rejected the rate increase because of the pandemic’s impact on the local economy.

COWD charges its consumers PHP16.60 per cubic meter daily, while COBI bills COWD PHP20.57 per cubic meter of water, or a difference of PHP3.97.

COBI is a joint venture between majority owner Metro Pacific Inc. Investments Corp. and COWD, which holds a 5 percent stake in COBI. It is one of COWD’s eight bulk water suppliers.

Source: Philippines News Agency