Day: September 20, 2024

Manila: Grandmasters Julio Catalino Sadorra and John Paul Gomez beat their opponents to carry the Philippines to a 3-1 win over South Africa in the eighth round of the 45th Chess Olympiad at the BOK Sports Hall in Budapest, Hungary. Sadorra prevailed over International Master Jan Karsten in 36 moves of the Queen’s Pawn game on board one, while Gomez defeated FIDE Master Banele Mhango in 34 moves of the Ruy Lopez Jaenisch variation on board three. Their victories came after IM Paulo Bersamina settled for a draw with Caleb Levi Levitan on board two, and IM Jan Emmanuel Garcia

Manila: The Sandiganbayan has denied the appeal filed by a barangay treasurer and affirmed the Baguio regional trial court (RTC) in finding him guilty of four counts of malversation of public funds in connection to the cash prizes of a 2011 Sangguinan Kabataaan (SK) sportsfest. In a 27-page decision written by Associate Justice Ronald Moreno dated September 17, the anti-graft court’s third division found Barangay Camp 7 treasurer Rommel Beltran guilty and affirmed a prison term of up to 10 years. ‘He shall also suffer the penalty of perpetual disqualification from holding any public office,’ the court said. The amounts

Manila: The Bangko Sentral ng Pilipinas (BSP) will reduce the reserve requirement ratios (RRRs) of banks as part of its efforts to reduce distortions in the financial system. In a statement on Friday, the BSP said the RRR of universal and commercial banks (U/KBs) and non-bank financial institutions with quasi-banking functions (NBQBs) will be reduced by 250 basis points to 7 percent from the current 9.5 percent. The BSP said the RRR of digital banks will also be slashed by 200 basis points to 4 percent from 6 percent. Thrift bank (TBs), rural banks, and cooperative banks’ (RCBs) RRR will

Manila: A rest area for leisure travelers will soon rise in Patikul, Sulu, the Department of Tourism (DOT) announced Friday, citing the province’s ‘readiness for tourism.’ The tourist rest area (TRA) is a flagship program of the DOT, providing major destinations a one-stop shop where visitors can rest, use clean toilets and buy local products. The Patikul TRA, located near the provincial capitol, will be equipped with information desks and a pasalubong (souvenir) shop. ‘The establishment of a Tourist Rest Area here evinces the commitment of the Marcos administration to support the momentum of growth for your province,’ DOT Secretary

Manila: President Ferdinand R. Marcos Jr. on Friday expressed optimism that the Philippines’ relations with Indonesia will be ‘stronger and deeper’ under the leadership of Indonesian president-elect Prabowo Subianto. In a meeting at Malacañan Palace in Manila, Marcos and Prabowo affirmed their vision for the two nations’ greater ties. ‘I think it bodes well for our two countries that you have come to visit with the Philippines and (it) shows that the growing relationship between our two countries has been at a very strong level for many many years and many many aspects of the people-to-people, on the political, on