PHL single-detached homes rate of ownership by occupants tops 62%

THE percentage of single-detached homes owned by their occupants was 62.1%, the Philippine Statistics Authority (PSA) said. The PSA’s 2022 Annual Poverty Indicators Survey (APIS) said the rate of owner-occupied houses was three out of every five of the 26.94 million families. The single-detached home market segment is known in the Philippines as a “house […]

Alternergy takes RE firm

ALTERNERGY Holdings Corp. on Monday said its board had approved its subscription to a 60% stake in Liberty Solar Energy Corp. In a regulatory filing, the listed company said Liberty Solar is a “potential” special-purpose vehicle to develop renewable energy (RE) projects. Alternergy will subscribe to 975,000 common shares of Liberty Solar for a one-time […]

Monetary Board bans six money service businesses

THE MONETARY BOARD has disqualified six firms from securing a license with the Bangko Sentral ng Pilipinas (BSP) after they were found operating unregistered money service businesses (MSBs). The central bank banned two MSBs in Pasay City, namely Bontoy Money Changer with Mohammad S. Sauti as a point person and Nurul Money Changing Services, which […]

Putin’s biggest mistakes in the Wagner uprising

RUSSIAN President Vladimir Putin is damaged goods. He may have survived this weekend’s mutiny by Yevgeny Prigozhin and his Wagner Group of mercenaries. In reacting as he did, though, Putin not only made himself even weaker, but planted the idea of his impotence in the minds of Russians and the world. Of course, Putin had […]

ACE Hardware PHL wins two awards

ACE HARDWARE Philippines recently received two awards at the Retail Asia Awards in recognition of its “We Can Help” campaign and its sustainability initiatives. ACE Hardware was awarded Hardware Retailer of the Year – Philippines for a second year in a row. It was also recognized as the winner of the ESG Initiative of the […]

Hollywood directors ratify labor pact as writers keep picketing

LOS ANGELES — Film and television directors voted overwhelmingly to ratify a new three-year labor contract with major Hollywood studios on Friday, averting a second work stoppage that would have added to upheaval caused by an ongoing writers’ strike. The Directors Guild of America (DGA) said 87% of those voting supported the deal with the […]

PSEi returns to 6,500 level on bargain hunting

PHILIPPINE SHARES rose on Monday on bargain hunting following their decline last week. The Philippine Stock Exchange index (PSEi) increased by 129.54 points or 2.02% to 6,523.09 on Monday, while the broader all shares index went up by 55.71 points or 1.63% to close at 3,470.46. “The local bourse jumped by 129.54 points to 6,523.09 […]

Peso up on weaker US data

THE PESO appreciated against the dollar on Monday following weaker US data last week. The local currency closed at P55.70 versus the dollar on Monday, inching up by seven centavos from Friday’s P55.77 finish, data from the Bankers Association of the Philippines’ website showed. The local unit opened Monday’s session steady at P55.77 per dollar. […]

Lawmaker seeks Cebu Pacific franchise suspension

A CONGRESSMAN has filed a resolution seeking to suspend the franchise of budget carrier Cebu Air, Inc. amid a Senate investigation of mounting customer complaints. Cagayan de Oro Rep. Rufus B. Rodriguez said the airline, which operates Cebu Pacific, “has a history of unsatisfactory service to the public.” “Passengers of Cebu Pacific experience flight delays […]

DoJ trains fiscals and police to boost cases

THE PHILIPPINE Department of Justice (DoJ) on Monday vowed to help bolster the capabilities of local law enforcement agencies to gather evidence and investigate crimes to increase convictions. “What we’re trying to do is to increase our capacity-building programs for our law enforcement in order for us to perform our prosecutorial and investigative functions under […]

Marcos names anti-poverty adviser 

PRESIDENT Ferdinand R. Marcos, Jr. has appointed lawyer Lorenzo “Larry” G. Gadon as his adviser for poverty alleviation, according to the presidential palace.  Mr. Gadon will work closely with agencies and nongovernment groups in coming up and implementing anti-poverty programs, it said in a statement.  “His wealth of experience as a corporate executive and legal […]

DoJ chief to take ‘wellness’ leave 

JUSTICE Secretary Jesus Crispin C. Remulla will take a 10-day “wellness” leave for undisclosed reasons, the Department of Justice (DoJ) said on Monday.  His leave is effective immediately, it said in a statement, without providing more details.  Justice Undersecretary Raul T. Vasquez will take charge in his absence, Mr. Remulla told reporters in a Viber […]

Bigger budget for health sought 

PHILIPPINE Health Secretary Teodoro J. Herbosa on Monday vowed to push for a gradual increase in his agency’s annual budget, while calling for cuts in the government’s allocation for health infrastructure projects, which he said are not immediately felt by Filipinos.  The budget for health should be increased to at least 15% of the country’s […]

Probe activist abductions, gov’t told  

A HUMAN rights group has urged the government to investigate the abduction of activists who have been missing for more than 17 years, citing the need for the state to protect human rights defenders.  “We demand that the Philippine government take immediate action to bring those responsible to justice and provide closure to the families […]

Philippine births, deaths decline 

PHILIPPINE registered births and deaths dropped by 2.8% and 25.6% year on year, the local statistics agency said on Monday.  Births last year reached 1.33 million, down from 1.36 million in 2021, while registered deaths dropped to 654,013 from 879,429.  Meanwhile, marriages rose by 18.2% to 421,875 from a year earlier.  In a separate report, […]

ILO chief talks to local labor groups 

INTERNATIONAL Labour Organization (ILO) Director-General Gilbert F. Houngbo had a dialogue with Philippine labor groups on Monday, discussing human rights violations against workers, according to the Trade Union Congress of the Philippines (TUCP).   In a statement, TUCP said representatives from workers’ organizations had brought up the culture of impunity in the country and other hurdles […]