Anticipation for the policy decisions of several central banks this week resulted in bargain hunting in the local bourse on Tuesday while the peso ended little changed against the greenback. The Philippine Stock Exchange index (PSEi) gained 0.62 percent, or 44.38 points, to 7,241.99 points. All Shares followed with a jump of 0.23 percent, or 8.90 points, to 3,841.69 points. On the other hand, most of the sectoral indexes finished the day in the negative territory with the Services declining by 0.51 percent; Mining and Oil, 0.40 percent; Industrial, 0.38 percent; and Property, 0.22 percent. Holding Firms gained by 1.50
Senator Christopher “Bong” Go on Tuesday lauded his colleagues’ approval of the legislation creating a Department of Migrant Workers, a move which he said inches closer toward fulfilling one of the campaign promises of the Duterte administration to improve the condition of the overseas labor force. The bill, certified urgent by Malacañang in May, seeks to consolidate into a single coherent office the agencies which attend to the needs of overseas Filipino workers (OFWs). “This bill is not just part of the legacy of the Duterte administration but also of this Congress,” Go, one of the bills’ co-authors, said in
The Negros Oriental Electric Cooperative II (NORECO II) on Tuesday advised its customers to prepare for Severe Tropical Storm Rai that will be named “Odette” once inside the Philippine area of responsibility (PAR), as the weather forecast shows Negros Oriental is right in its path. In a media release, Sharon Araula, NORECO II information officer, said “because the distribution lines are overhead and exposed to the elements of nature, strong wind and torrential rain can cause power outages in our coverage area”. She urged the people to have backup power such as generator if possible, prepare emergency lights and flashlights,
The Regional Disaster Risk Reduction and Management Council (RDRRMC) in Bicol has placed all disaster response offices on red alert effective immediately to prepare for the possible onslaught of Tropical Storm (TS) Odette. In a memorandum issued on Tuesday, Claudio Yucot, Office of Civil Defense (OCD)-Bicol regional director and Bicol DRRMC chairperson, said the raising of alert status from blue to red is necessary due to the uncertainty of the movement, track, and intensification of the weather disturbance, and to heighten appropriate precautionary actions for possible flooding, flash floods, or landslides. “Closely monitor the developments of ‘Odette’ and evaluate the
The Eastern Visayas Regional Disaster and Risk Reduction Management Council (RDRRMC) has canceled land travel of all vehicles bound for Luzon and Mindanao ahead of a tropical storm’s looming entry into the Philippine Area of Responsibility (PAR) to avoid stranding in ports. RDRRMC chairperson Lord Byron Torrecarion said the body issued the memorandum that took effect 8 a.m. on Tuesday, following the post-disaster risk assessment core group meeting night of Dec. 13. “This covers buses, trucks, and private cars unless they are already in transit during the effectivity of cancellation. On top of the incoming typhoon, we are also concerned
G7 economic officials on Monday discussed the outlook of the global economy, boosting vaccination rates around the world to combat the coronavirus disease 2019 (Covid-19) pandemic and the importance of resilient supply chains. G7 finance ministers and governors also discussed the macroeconomic implications of climate change and technical work the G7 will pursue to better understand climate mitigation measures, the US Treasury Department said in a statement. In a virtual meeting of the G7 finance ministers and central bank governors, US Treasury Secretary Janet Yellen endorsed the G7 finance ministers’ statement on actions to support antibiotic development, which calls on
