Category: Latest News

Oil firms told to stock up, step up imports

MANILA, Philippines?The government ordered oil firms to ramp up imports and stocks amid growing concern about potential supply disruption due to unrest in the Middle East and North Africa. Read More

Philippines to tender $1B worth of rail, toll roads

MANILA?Philippine President Benigno Aquino on Monday invited investors to help his cash-strapped government build more than a billion dollars’ worth of road and rail projects. Read More

Gov’t not averse to imposing price control?official

MANILA, Philippines?To mitigate the rising costs of commodities in the country, the government is prepared to impose price controls but only as a last resort, Trade Secretary Gregory Domingo told a Senate hearing on Monday. ‘As a last resort, we can impose price controls but that will be upon the approval of the President,’… Read More

Church to hold 2nd offertory collection on Sundays for relief fund

MANILA, Philippines?The Roman Catholic Archdiocese of Manila will hold a second offertory collection during Sunday masses in the coming Lenten season for an emergency fund for relief efforts during disasters and other crises affecting the country. In a pastoral letter, Archbishop… Read More

Meralco customers to enjoy power bill cuts in March

MANILA, Philippines?While prices of other commodities continue to rise, customers of power distributor Manila Electric Co. can look forward to a decrease in their power bills this March as the generation charge fell by 1.62 centavos per kilowatt-hour to P4.8461 per kWh. Read More

Won, peso down as oil triggers dollar short covering

SINGAPORE: The South Korean won and the Philippines peso slid against the dollar on Monday, weighed down by higher oil prices and traders’ caution about further intervention by some central banks to slow any gains in their currencies. Read More

BSP expected to hike key policy rates

MANILA, Philippines?British banking giant HSBC expects the Bangko Sentral ng Pilipinas to raise its key rates by 25 basis points when members of its monetary board sit down on March 24 as consumer prices are now rising faster than anticipated due to surging global oil and food prices. Read More

Philippine leader vows punishment in graft scandal

MANILA, Philippines (AP) — Philippine President Benigno Aquino III has vowed to punish generals and… Read More

Philippines names new military chief amid corruption scandals

MANILA (Reuters) – Philippine President Benigno Aquino on Sunday appointed an experienced fighter pilot as the country's new military chief, hoping restore credibility to an institution facing corruption allegations. Lieutenant-General Eduardo Oban replaces General Ricardo David who will retire on Monday. Oban takes on his… Read More

DENR acts to save PH’s largest flower

MANILA, Philippines?The Department of Environment and Natural Resources has taken steps to protect the country’s largest flower and will enlist the help of local communities in ensuring the survival of the threatened species. The DENR has issued an administrative order declaring a two-hectare piece of land in Sitio (district) Kalanganan, Baungon, Bukidnon, as the critical habitat of the Rafflesia schadenbergiana Read More

BIR to go after former military exec’s bro-in-law

MANILA, Philippines?The Bureau of Internal Revenue may charge with tax evasion the brother-in-law of a former Armed Forces comptroller following last week’s Senate hearing on hundreds of millions of pesos bank deposits identified as his although he had no registered means of income. Internal Revenue Commissioner Kim S. Henares said in an interview that, in fact, the BIR last week issued a regulation aimed at uncovering unreported income other than compensation for labor or services rendered. Read More

Aquino presides over destruction of World War II bombs

CAPAS, Tarlac, Philippines?President Benigno Aquino III’s wish to dispose of almost 400,000 pounds of US bombs and other explosives left over from World War was fulfilled on Saturday when the Philippine military detonated the last 11,000 pounds of ordnance at its Crow Valley Range here. The safe transport… Read More

Red Cross appeals to gov’t, rebels: Spare civilians

DAVAO CITY, Philippines?The International Committee of the Red Cross (ICRC) appeals to government and communist rebels to spare civilians from violence. Jean-Robert Jorda, head of the sub-delegation of the ICRC in Mindanao, said that the ‘humanitarian consequences of the conflict remain a serious concern’ and it must be stopped. ‘Over the years and across the country, cycles of violence linked with insurgency have resulted in casualties, displacement, and a prevailing state of fear and insecurity among affected communities,’ Jorda said…. Read More

Priest urges Quezon women leaders to join church vs RH bill

LUCENA CITY, Philippines?A Catholic priest here on Saturday urged Quezon womenfolk to join the church in opposing the controversial reproductive health bill, which religious leader said would only sustain a ‘contraceptive mentality’ among Filipino women. ‘That RH bill is not pro-women, it’s not pro-life. It would only create a contraceptive mentality which in effect would only promote abortion,’ Monsignor Leandro Castro, vicar general of the Diocese of Lucena, said in his homily during a mass at the Quezon… Read More

Inflation exceeds BSP forecast

MANILA, Philippines?Annual inflation rose higher than expected in February to reach its highest since May, according to a report released on Friday by the National Statistics Office (NSO). The annual inflation rate hit 4.3 percent in February, exceeding the Bangko Sentral ng Pilipinas forecast for the month of between 3 and 4.1 percent. The BSP has acknowledged that the faster-than-expected increase in prices may mean that the… Read More

The poor don’t live by bread alone

SAD BUT true: no matter by how much the prices change of consumer items like water, electricity, LPG, transportation, clothing, house rent, school supplies, medicine, or any other basic item aside from food, there can be no corresponding changes in the official poverty line. This is due to the neglect of the National Statistical Coordination Board (NSCB), the official poverty-measurement agency, to do research on any individual non-food component as part of minimum basic needs. Read More

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