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Day: June 6, 2022

PSEi slips on Fed rate hike expectations; peso nearly unchanged

Expectations for continued hikes in the Federal Reserve’s key rates hurt the local stock barometer but the peso finished unchanged against the US dollar.   The Philippine Stock Exchange index (PSEi) shed 0.36 percent, or 24.52 points, to 6,716.88 points.   All Shares followed with a drop of 0.46 percent, or 16.67 points, to 3,585.85 points.   Most of the sectoral indices tracked the main index–Mining and Oil, 2.15 percent; Holding Firms, 1.61 percent; Industrial, 1.01 percent; Services, 0.71 percent; and Financials, 0.11 percent.   Only the Property index rose during the day after it jumped by 2.08 percent.  

Central Luzon remains PH’s top palay producer in Q1

Central Luzon, the country’s rice granary, remained the country’s top producer of palay in the first quarter of this year.   Based on the latest data of the Philippine Statistics Authority-Regional Statistical Services Office-Central Luzon (PSA-RSSO III), the region produced 772,855 metric tons of palay, contributing 17 percent to the country’s output.   The production volume is higher compared to the 699,044 metric tons during the same period last year.   The double-digit increases in the volume of palay production in the provinces of Aurora, Bulacan, Nueva Ecija, and Pampanga contributed to the increase in the region’s overall palay production

Gov’t, MILF renew mutual commitment for genuine peace process

The implementing panels of the Government of the Philippines (GPH) and the Moro Islamic Liberation Front (MILF) renewed their mutual commitment to continue pushing for a comprehensive Philippine peace process.   In a joint statement released Monday, the GPH and MILF agreed on the following resolutions and action points, bearing in mind continuity, stability, and sustainability of the peace dividends and in view of the developments in the Bangsamoro peace process:   1.The GPH Panel shall communicate to the MILF panel the proposal of the GPH for the transition of the International Monitoring Team (IMT) for the immediate resolution of

Cebu town exec cites P17-M healthcare projects via ‘Kalahi’

The mayor of Cebu’s southern coastal town of Samboan on Monday cited the almost PHP17-million community development projects of the Department of Social Welfare and Development (DSWD) which enable them to more effectively fight coronavirus disease 2019 (Covid-19).   Mayor Emerito Calderon Jr. said his town has prioritized healthcare services for his constituents through its partnership with the DSWD-Central Visayas in coming up with a set of sub-projects as the municipality responds to the pandemic.   Calderon cited the Kapit-Bisig Laban sa Kahirapan Comprehensive and Integrated Delivery of Social Services (KALAHI-CIDSS) of the DSWD as a source for a total

Slain athlete’s mom wants next admin to continue insurgency fight

The mother of Kieth Absalon, the Far Eastern University footballer who was killed in an explosion perpetrated by the New People’s Army (NPA) last year, has appealed to the incoming administration of President-elect Ferdinand “Bongbong” Marcos Jr. to continue outgoing President Rodrigo Duterte’s whole-of-nation approach to end the more than five-decades of terrorism.   In remembrance of Absalon, the Regional Task Force to End Local Communist Armed Conflict (RTF-ELCAC) on Monday led the unveiling of his monument at the Masbate Sports Complex in Masbate City.   Absalon and his cousin Nolven were killed when an anti-personnel mine planted by NPA

Ex-Samar mayor cleared of graft raps in ‘reimbursement’ suit

The Sandiganbayan acquitted a former Eastern Samar town mayor and other officials of graft charges arising from the reimbursement of maintenance expenses for the former’s personal sports utility vehicle (SUV) that was used for official purposes.In a de…

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