THE Energy Regulatory Commission (ERC) has ordered the Philippine Electricity Market Corp. (PEMC) to hold off on the collection of the net settlement surplus (NSS) adjustment from electric distribution utilities in the May billing. In its statement on Thursday, the energy regulator said its order to the electricity market operator is meant to temper power […]
Category: Hot News
LANDBANK expands credit facility for businesses
LAND BANK of the Philippines (LANDBANK) increased its credit line for pandemic-hit businesses to P50 billion from P20 billion previously due to strong demand. LANDBANK said so far, it has approved P20.95 billion in loans for 460 borrowers under its Interim Rehabilitation Support to Cushion Unfavorably affected Enterprises by COVID-19 or I-RESCUE program. It has […]
Angry and traumatized, Britney Spears calls conservatorship abusive
LOS ANGELES — An emotional Britney Spears on Wednesday called the 13-year-long conservatorship that has controlled her life stupid and abusive, saying she felt traumatized and angry and wanted her life back. In a statement of more than 20 minutes, pop star Ms. Spears, 39, told the Los Angeles judge overseeing the arrangement that she […]
Globe signs P12-B loan deals for capex
GLOBE Telecom, Inc. announced on Thursday that it signed term loan facilities with China Banking Corp. and Philippine National Bank for P5 billion and P7 billion, respectively. The company will use the loans to finance its capital expenditures (capex), Globe said in a disclosure to the stock exchange. The Ayala-led telco targets to spend P70 […]
Maybank teams up with Bayad to boost bill payment facility
MAYBANK Philippines, Inc. (Maybank) has teamed up with CIS Bayad Center, Inc. (Bayad) to expand its bills payment services for its clients. Through the partnership, users of Maybank2U PH will be able to settle payments to over 300 billers that are part of Bayad’s network. “The integration of our platforms allows us to combine strengths, […]
Julie Anne San Jose explores upbeat music
Julie Anne San Jose A NEW upbeat and danceable song was the works for singer Julie Anne San Jose when the world unexpectedly stopped last year. Because of the ongoing coronavirus disease 2019 (COVID-19) pandemic, the song underwent various revisions and took a while to produce. “We wrote the song pre-pandemic, and then inabutan kami […]
Entertainment News (06/25/21)
1 of 3 ZBB and Barangay LS top audience share SUPER Radyo DZBB and Barangay LS 97.1 remain the number one AM and FM radio stations in Metro Manila. Nielsen’s Radio Audience Measurement data for May shows that GMA Network’s flagship AM station Super Radyo DZBB 594 recorded an average total day audience share of […]
Del Monte Pacific swings to profitability, earns $63M
Listed Del Monte Pacific Ltd. (DMPL) reversed its $81.4-million loss last year as the company improved its sales mix and margins from lower sales of low-margin segments, lower trade promotions, and expenses. The company achieved a “very commendable performance” with $63.3 million in profits for the year ended April 2021, Del Monte Pacific disclosed to […]
Employers worried about SHS graduates’ readiness for work
MANY EMPLOYERS are reluctant to hire senior high school (SHS) graduates on concerns about their readiness for the workplace, while most SHS graduates have expressed a preference to pursue further studies, according to a study released Thursday. The Philippine Institute for Development Studies (PIDS) said its research, conducted starting 2018, found that SHS graduates faced […]
SEC reminds lending, financing firms register online platforms
THE Securities and Exchange Commission (SEC) could penalize or even revoke the licenses of financing and lending companies that fail to register and disclose their online lending platforms (OLP), such as mobile applications and websites. A notice published by the commission on Wednesday said financing and lending firms must comply with SEC Memorandum Circular No. […]
Mandanas says LGUs must have free hand on use of IRA agri funds
THE OFFICIAL who successfully petitioned the Supreme Court to expand the share local government units (LGUs) are entitled to from National Government revenue said LGUs need the freedom to decide how much they can spend on agriculture, rather than have quotas dictated to them by law. Batangas Governor Hermilando I. Mandanas was speaking at a […]
Spot market power prices decline in June
THE AVERAGE price for power on the wholesale electricity spot market (WESM) was P6.53 per kilowatt hour in June, down from P7.66 in May, the Independent Electricity Market Operator of the Philippines (IEMOP) said Wednesday. In a virtual briefing, IEMOP Manager for Pricing Validation and Analysis John Paul S. Grayda said that the secondary price […]
DoE to regulate reserve power procurement, require 5-year forecasts from NGCP
THE Department of Energy (DoE) said it will set a competitive process for the grid operator’s procurement of reserve power, known as ancillary services (AS), and also require it to submit five-year forecasts for power demand to help ensure that expected needs are sufficiently covered. According to a draft department circular posted on its website, […]
¥20-B loan funded subsidies, pandemic response — DoF
THE Department of Finance (DoF) said the government allocated the proceeds from Japan’s ¥20-billion loan — equivalent to around P8.71 billion — for emergency subsidies in April for people affected by the pandemic, as well as other spending items related to the public health crisis. The enhanced community quarantine (ECQ) enforced in April served as […]
Card to facilitate aid distribution issued to farmers
THE Department of Agriculture (DA) said it introduced a card that will serve both as identification and a cash card to access government assistance for farmers enrolled in the farmer’s registry. Agriculture Secretary William D. Dar launched the ‘Interventions Monitoring Card’ for farmers listed in the registry system for basic sectors in agriculture (RSBSA) during […]
Mung beans, native onion, bitter gourd top PSA Q1 production growth report
THE major vegetable crops that posted the strongest uptick in production during the first quarter were mung beans, native onion, and bitter gourd (ampalaya), the Philippine Statistics Authority (PSA) said. In its quarterly bulletin on major vegetables and root crops, the PSA said mung bean production in the three months to March rose 6.2% year […]
In the name of fair play
Have you ever felt silenced after your explanation was left unheard? Perhaps, as a child, you were scolded without getting a chance to defend yourself; as an adult, perhaps you were handed a traffic violation ticket for an infraction you were wrongly accused of. In tax assessment cases, taxpayers often feel anxious when investigated, a […]
Peso sinks ahead of BSP decision
THE PESO retreated further versus the greenback on Wednesday due to foreign selling at the stock market and cautiousness ahead of the central bank’s policy review. The local unit closed at P48.805 a dollar on Wednesday, shedding 10.5 centavos from its P48.70 finish on Tuesday, data from the Bankers Association of the Philippines showed. The […]
PHL shares climb on Fed chief’s dovish testimony
SHARES climbed on Wednesday on dovish remarks from the US Federal Reserve chief and as the market remained hopeful the Philippine economy could be reopened further. The 30-member Philippine Stock Exchange index (PSEi) went up by 48 points or 0.69% to close at 6,918.41 on Wednesday, while the all shares index rose by 20.69 points […]
Rising COVID-19 infections in 4 regions flagged
By Kyle Aristophere T. Atienza and Vann Marlo M. Villegas, Reporters THE DEPARTMENT of Health (DoH) on Wednesday flagged increasing coronavirus infections in four regions in the Visayas and Mindanao. The regions of Western Visayas, Caraga, Davao and Soccsksargen were at high risk, Health Director Alethea de Guzman told an onlne news briefing. Metro Manila […]